Bulletin
Investor Alert

Market Snapshot Archives | Email alerts

Sept. 23, 2021, 5:57 p.m. EDT

Dow jumps 500 points as stocks recover losses for week after Fed and Evergrande worries fade

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)
  • X
    NASDAQ Composite Index (COMP)

or Cancel Already have a watchlist? Log In

By William Watts, and Thornton McEnery

1 2

Worries around China Evergrande, the property giant whose indebtedness sparked a global equity meltdown earlier this week, appear to have moved into the background. Shares of the company rose 17% in Hong Kong as that market reopened after a holiday.

Investors are waiting to hear if Evergrande will make an $83.5 million coupon payment due Thursday on its U.S. dollar bonds. Markets welcomed news on Wednesday that its property business would make an interest payment on an onshore bond. 

The Wall Street Journal reported Thursday that Beijing remained reluctant to bail out the developer, tasking local governments with preventing unrest and mitigating the ripple effect on home buyers and the broader economy.

Meanwhile, global investors were cheered as the People’s Bank of China injected another 110 billion yuan, or $17 billion, into the financial system on Thursday, according to news reports, after a large injection on Wednesday.

Wednesday and Thursday’s gains on the Dow marked back-to-back gains of 1% for the index since the two days ending May 14, 2021

Which companies were in focus?

  • Shares of Salesforce.com Inc. /zigman2/quotes/200515854/composite CRM -1.72% rose more than 7.2% after the customer relationship management software company boosted its fiscal 2022 revenue outlook and provided 2023 guidance that was above expectations.

  • Darden Restaurants Inc. /zigman2/quotes/200092615/composite DRI -5.28% on Thursday reported fiscal first-quarter earnings that beat expectations and announced a new buyback program. Shares of the restaurant company rose 6.1%.

  • Shares of BlackBerry Ltd. /zigman2/quotes/202784246/composite BB -2.35% were up 10.8% after the cybersecurity and Internet-of-Things company exceeded Wall Street expectations when it reported fiscal second-quarter results late Wednesday.

How did other markets trade?

  • The yield on the 10-year Treasury note /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -9.87% jumped 11.6 basis points to 1.427%.

  • The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY -0.73% , a measure of the currency against a basket of rivals, was down 0.4%.

  • Oil futures pushed higher, with the U.S. benchmark /zigman2/quotes/209723049/delayed CL00 -13.04% up 1.4% to $73.22 a barrel. Gold futures /zigman2/quotes/210034565/delayed GC00 +0.45% dropped 1.8% to around $1,747 an ounce.

  • In Asia, Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.67% reopened after a one-day holiday to a 1.1% gain, while China’s CSI 300 index /zigman2/quotes/210598128/delayed XX:000300 -0.74% rose 0.6% and Japan’s Nikkei 225 index /zigman2/quotes/210598409/delayed UK:UKX -3.64% was closed for a holiday.

  • In Europe, the Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -3.67% rose 0.9%, while the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -3.64% gave up 0.1%.

Barbara Kollmeyer contributed reporting.

/zigman2/quotes/200515854/composite
US : U.S.: NYSE
$ 284.21
-4.96 -1.72%
Volume: 4.20M
Nov. 26, 2021 1:10p
P/E Ratio
113.79
Dividend Yield
N/A
Market Cap
$283.10 billion
Rev. per Employee
$375,437
loading...
/zigman2/quotes/200092615/composite
US : U.S.: NYSE
$ 140.55
-7.83 -5.28%
Volume: 1.33M
Nov. 26, 2021 1:10p
P/E Ratio
22.52
Dividend Yield
2.45%
Market Cap
$19.26 billion
Rev. per Employee
$45,869
loading...
/zigman2/quotes/202784246/composite
US : U.S.: NYSE
$ 9.97
-0.24 -2.35%
Volume: 4.34M
Nov. 26, 2021 1:10p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.78 billion
Rev. per Employee
$255,362
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
1.48
-0.16 -9.87%
Volume: 0.00
Nov. 26, 2021 1:59p
loading...
/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
96.07
-0.70 -0.73%
Volume: 0.00
Nov. 26, 2021 4:59p
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 68.17
-10.22 -13.04%
Volume: 825,163
Nov. 26, 2021 1:44p
loading...
/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,792.30
+8.00 +0.45%
Volume: 181,967
Nov. 26, 2021 1:44p
loading...
/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,080.52
-659.64 -2.67%
Volume: 1.80M
Nov. 26, 2021 4:09p
loading...
/zigman2/quotes/210598128/delayed
XX : China Securities Index
4,860.13
-36.32 -0.74%
Volume: 12.04B
Nov. 26, 2021 3:00p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,044.03
-266.34 -3.64%
Volume: 1.33M
Nov. 26, 2021 4:44p
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
464.05
-17.67 -3.67%
Volume: 0.00
Nov. 26, 2021 11:03p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,044.03
-266.34 -3.64%
Volume: 1.33M
Nov. 26, 2021 4:44p
loading...

1 2
This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

World News from MarketWatch

Link to MarketWatch's Slice.