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What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4

  • What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4 What are the Dow, S&P 500, and Nasdaq? | How to Invest: Ep. 4 3:26
5:34 a.m. Oct. 14, 2021 - By Mark Decambre
Dow opens over 400 points higher, S&P 500 retakes 4,400 as weekly jobs report hits fresh pandemic lowU.S. stock benchmarks rose solidly higher Thursday morning, advancing as a parade of big banks released upbeat earnings and data showed a drop in first-time jobless claims to the lowest since the pandemic began and a smaller-than-expected rise in producer prices. The Dow Jones Industrial Average traded 406 points, or 1.2%, at 34,784. The S&P 500 index advanced 1% to 4,404, retaking a psychologically signicant level at 4,400, while the Nasdaq Composite Index advanced 0.9% at 14,710. Bank of America Corp. reported profit and revenues that topped expectations as it released $1.1 billion in reserves to its bottom line, driven primarily by asset quality improvements. Shares rose 2.8% in premarket trade. In economic reports, weekly first-time claims for unemployment benefits last week dropped to 293,000 - the first sub-300,000 reading since before the pandemic took hold in early 2020.
12:10 p.m. Oct. 13, 2021 - By Mark Decambre
S&P 500, Nasdaq Composite snap 3-session skid but Dow ensnared in longest losing skid in three weeksU.S. stocks ended mostly in positive territory Wednesday, halting a string of losses at three, as investors digested minutes from the Federal Reserve's Sept. 21-22 policy meeting that seemed to underscore the cetnral bank's plan to dial back its monthly purchases of Treasurys and mortgage-backed securities as evidence of inflation show that pricing pressures continue to percolate. The Dow Jones Industrial Average ended lower but almost unchanged at about 34,378. Still, it was the fourth straight decline for the blue-chip benchmark, matching the longest losing skid ended Sept. 21, FactSet data show. The S&P 500 index closed up 0.3% at 4,363, while the Nasdaq Composite Index rose 0.7% at about 14,572, and marked the best day since Oct. 7. Several Fed officials said they even preferred a more rapid reduction of the central bank's current $120 billion pace of monthly purchases, rather than the $15 billion reduction anticipated. Data showed that the U.S. consumer-price index rose 0.4% in September after climbing 0.3% in August, the Labor Department said on Wednesday. In the 12 months through September, the CPI increased 5.4% after advancing 5.3% year-over-year in August.
12:11 p.m. Oct. 12, 2021 - By Mark Decambre
The stock market closed lower Tuesday, logging another intraday reversal and a 3rd straight fall for the longest skid in 3 weeks U.S. stocks finished lower Tuesday, with the main indexes erasing early modest gains to close lower for the third straight decline for the three main equity benchmarks, ahead of the unofficial start of third-quarter results from American corporations. The Dow Jones Industrial Average fell 118 points, or 0.3%, the S&P 500 index declined 0.2% to 4,350, while the Nasdaq Composite Index declined 0.1% to 14,465. The small-capitalization Russell 2000 index , however, was headed for a close in positive territory, up 0.4%. Markets have been choppy amid concerns about slowing growth here and abroad and worries that inflation may be more durable than had been previously estimated by some members of the Federal Reserve. The International Monetary Fund said that it now sees global growth of 5.9% this year - down one-tenth of a percent from its July forecast - and then slowing to 4.9% growth in 2022. For the U.S., the IMF cut its growth estimate for this year down to 6%. Atlanta Federal Reserve President Raphael Bostic said that the recent burst of U.S. inflation is likely to last longer than expected and no longer should be considered "transitory." Minutes from the Fed's Sept. 21-22 meeting are due at 2 p.n. ET on Wednesday. Before that, a report on consumer inflation, the consumer price index, is due at 8:30 p.m. ET.
5:36 a.m. Oct. 12, 2021 - By Mark Decambre
Dow drifts higher Tuesday but stock market gains capped as IMF dials back global growth outlook U.S.stocks rose tenatively Tuesday morning as inflation worries dogged bullish investors ahead of third-quarter earnings and as the International Monetary Fund cut its outlook for global growth. The Dow Jones Industrial Average rose 36 points, or 0.1%, at 34,533, the S&P 500 index inchded 0.1% higher at 4,364, and the Nasdaq Composite Index advanced 0.1% at 14,505. The IMF on Tuesday said it expects global GDP to grow by 5.9% in 2021---0.1 percentage point lower than its previous estimate. "This modest headline revision masks large downgrades for some countries," wrote Gita Gopinath, chief economist at the IMF, in a Tuesday blog post. The report comes as investors are wrestling with surging energy prices, which are contributing to pricing pressures across the globe in the wake of the COVID-19 pandemic.
9:51 a.m. Oct. 11, 2021 - By Mark Decambre
Stock market reverses course in Monday afternoon trade, with Dow down about 120 pointsU.S. stock markets turned south Monday afternoon, with early, modest gains fizzling, amid selling in financials and communication services . The Dow Jones Industrial Average was trading about 115 points lower, or 0.3%, at 34,630, the S&P 500 index was trading 0.3% lower at 4,380, while the Nasdaq Composite Index shed 0.1% at 14,560. All three benchmarks had been showing modest gains earlier in the session. The Treasury is closed in observance of Columbus Day in the U.S.
5:33 a.m. Oct. 7, 2021 - By Mark Decambre
Dow jumps over 350 points and S&P 500 retakes perch at 4,400 in early Thursday action, a day before monthly jobs reportU.S. stock benchmarks rose Thursday morning, heading for a third straight day of gains, on signs that the the debt-ceiling issue in Washington will be resolved for at least two more months and that relations with China may be thawing. Meanwhile, the Labor Department said weekly initial claims for unemployment benefits fell 38,000, to 326,000, in the week ended Oct. 2. That data comes a day ahead of closely watched September employment report, which could be a catalyst for markets. The Dow Jones Industrial Average [: DJIA] rose by about 356 points, or 1.1%, to 34,781, the S&P 500 index advanced 0.9% at 4,404, while the Nasdaq Composite Index climbed 1% to 14,655. Sen. Mitch McConnell, the minority leader and Kentucky Republican, effectively ended worries - for now - around the debt ceiling by announcing that Republicans would not filibuster an increase. Separately, U.S. President Joe Biden and Chinese leader Xi Jinping will meet virtually before the end of the year, according to reports.
12:11 p.m. Oct. 6, 2021 - By Mark Decambre
Dow stages 560-point U-turn to end positive as McConnell says he'll allow Dems to pass short-term debt-limit extensionU.S. stocks on Wednesday staged a powerful intraday turnabout that resulted in all three indexes finishing in positive territory after sharp early losses. Stock-market investors have been buffeted lately by a surge in energy prices, notably natural-gas futures , heightening fears about a surge in inflation that might prompt the Federal Reserve to act sooner to end market-accommodative policies. The Dow Jones Industrial Average [: DJIA] closed over 100 points higher, or 0.3%, to reach about 34,417, and had been down by as many as 459 points, or 1.3%, while the S&P 500 index climbed 0.4% to 4,364, and the Nasdaq Composite Index advanced 0.5% to reach 14,501 but had seen an intraday low at 14,259.07, putting the technology-laden index down by as many as 1.2% on the session. For the Nasdaq Composite it was the biggest intraday turnaround since March 25, while it was the biggest intraday comeback for the Dow since Dec. 21, 2020, according to Dow Jones Market Data. A rise in yields, with the benchmark 10-year Treasury note reaching 1.57%, initially weighing on markets, but those rate moves subsided somewhat later in the session and reports about a possible detente between the GOP and Democrats set the stage for a mini comeback. Senate Minority Leader Mitch McConnell of Kentucky proposed allowing Democrats to "use normal procedures to pass an emergency debt limit extension at a fixed dollar amount to cover current spending levels into December." In economic data, a report from Automatic Data Processing Inc. showed that 568,000 private-sector jobs were created in September, outpacing estimates from The Wall Street Journal for 425,000. However, a reading for August was reduced to 340,000 from 374,000.
10:43 a.m. Oct. 6, 2021 - By Myra P. Saefong
Natural-gas futures drop 10%; U.S. oil prices post first loss in 5 sessionsNatural-gas futures fell by just after Russian President Vladimir Putin said his country would boost supplies of the fuel to Europe. The news pulled prices down just one day after they settled at their highest since late 2008. Meanwhile, oil futures also declined as data from the Energy Information Administration revealed a in U.S. crude inventories. Every dip in oil prices will be a "buying opportunity for energy traders as the U.S. will not be increasing production significantly and economic activity is expected to pick up next year," said Edward Moya, senior market analyst at Oanda. "The energy crisis from Europe to China is far from over despite Putin's comments." November natural gas fell 64 cents, or 10.1%, to settle at $5.675 per million British thermal units. It settled Tuesday at $6.312, the highest front-month contract finish since December 2008, according to Dow Jones Market Data. November West Texas Intermediate crude lost $1.50, or 1.9%, to settle at $77.43 a barrel a day after posting the highest close since late October 2014.
6:05 a.m. Oct. 6, 2021 - By Mark Decambre
Dow sinks over 400 points, wiping out Tuesday's rebound as stock market renews stumble lower on WednesdayThe stock market resumed a trend lower on Wednesday, with the Dow industrials set to erase of its gains from Tuesday and then some as selling in energy and financials pressured the main indexes south. The Dow Jones Industrial Average was down 450 points, or 1.3%, at 33,862, the S&P 500 index was off 1.2% at 4,292, while the Nasdaq Composite Index declined 1.2% at 14,267. On Tuesday, the Dow rose 312 points, or 0.92%, to 34,315, the S&P 500 increased 45 points, or 1.05%, to 4,346, and the Nasdaq Composite gained 178 points, or 1.25%, to 14,434. The slump for stocks came even as a report from Automatic Data Processing Inc. showed that 568,000 private-sector jobs were created in September, outpacing estimates from The Wall Street Journal for 425,000. However, a reading for August was reduced to 340,000 from 374,000.
10:48 a.m. Oct. 5, 2021 - By Myra P. Saefong
Natural-gas futures end at highest since late 2008; U.S. oil futures at 7-year highNatural-gas futures , with tight global supplies ahead of the winter heating season lifting prices to their highest finish in almost 13 years. Oil futures also climbed, with U.S. benchmark prices settling at their highest since October 2014 as traders bet that supplies won't be enough to meet growing demand. November natural gas rose 55 cents, or 9.5%, to settle at $6.312 per million British thermal units, the highest front-month contract finish since December 2008, according to Dow Jones Market Data. November West Texas Intermediate crude added $1.31, or 1.7%, to settle at $78.93 a barrel for the highest close since late October 2014.
5:37 a.m. Oct. 5, 2021 - By Mark Decambre
Dow opens nearly 200 points higher as stock market attempts turnaround Tuesday following tech-lead rout; Facebook's stock rises U.S. stock benchmarks opened modestly higher Tuesday morning, as Wall Street attempted to bounce back after the previous day's slump led by technology companies. The Dow Jones Industrial Average rose 164 points, or 0.5%, to around 34,148, the S&P 500 index added 21 points, or 0.5%, at 4,321, while the technology-laden Nasdaq Composite Index advanced 86 points, or 0.6%, to 14,340. Meanwhile, shares of Facebook Inc. were up 0.4% a day after the social-media company slumped by nearly 5%. A whistleblower is set to testify about Facebook's social-media practices later in the morning, which could weigh on the company's stock.
12:09 p.m. Oct. 1, 2021 - By Mark Decambre
Dow surges nearly 500 points as Merck's experimental COVID drug delivers dose of optimism but stocks register weekly losses U.S. stock indexes closed solidly higher Friday, with some of the upbeat mood on Wall Street to start October and the fourth quarter being attributed to an experimental COVID-19 pill from Merck & Co. that has shown in trials that it helps prevent high-risk people early in the course of the disease from becoming seriously ill and dying. The Dow Jones Industrial Average rose 1.4% to 34,326, with gains in Visa , Microsoft Corp. , Walt Disney & Co. and American Express Co. helping power the gains for the price-weighted index, along with Merck. The S&P 500 index rose 1.2% to 4,357, with energy shares surging 3.3% to lead the S&P 500's 11 sectors to start the month where that sector ended September, on top. The Nasdaq Composite Index closed 0.8% higher at 14,566. For the week, however, the Nasdaq closed down 3.2% and the S&P 500 ended off 2.2% for their worst weekly declines since Feb. 26, while the Dow ended the week off 1.4% for the sharpest weekly slide since Sept. 10, FactSet data show. as investors displayed a little risk appetite, thinking a new page in the calendar might push the market past the issues that drove it down earlier in the week.
5:37 a.m. Oct. 1, 2021 - By Mark Decambre
Dow jumps more than 250 points to start trade in October, 4th quarter on optimism from Merck's experimental COVID drugU.S. stock benchmarks rose Friday morning to kick off the start of a new quarter and month, following heavy selling that closed a bruising September for investors. Some observers were attributing the more optimistic tone at the end of the week to news that Merck's experimental antiviral drug, developed as a treatment for COVID-19 with partner Ridgeback Biotherapeutics, reduced the risk of hospitalization or death in at risk adult patients with mild-to-moderate COVID by about 50% in an interim analysis of data from a Phase 3 trial. The Dow Jones Industrial Average gained nearly 260 points, or 0.7%, to 34,092, the S&P 500 index climbed 0.3% at 4,321, while the Nasdaq Composite Index rose less than 0.1% at 14,459.
12:17 p.m. Sept. 30, 2021 - By Mark Decambre
Dow sinks nearly 550 points to end ugly September even as Congress passes bill to temporarily avoid government shutdown U.S. stocks closed out the month and quarter on a sour note Thursday as investors shed equities and losses accelerated within the final hour of trading, continuing a trend of weakness on Wall Street that has played out over the past several weeks. The declines for stocks came even as Congress passed a bill extending government funding through Dec. 3, sending the legislation to President Joe Biden's desk hours before current funding expires and completing one of several pressing measures before lawmakers. The Dow Jones Industrial Avergae closed off 547 points, or 1.6%, to reach 33,843, the S&P 500 index closed off 1.2% at 4,308, finishing down around 5% from its Sept. 2 peak. The Nasdaq Composite Index ended 0.4% lower to around 14,449. For the month, the Dow closed down 4.3% for its worst monthly loss since October of 2020, the S&P 500 index closed down 4.8%, while the Nasdaq Composite finished September off 5.3%. For the quarter, the Dow booked a quarterly decline of 1.9%, the S&P 500 finished the quarter up 0.2%, while the Nasdaq Composite booked a quarterly loss of 0.4%. It was the first quarerly loss for the Dow and Nasdaq since March 2020, according to Dow Jones Market Data.
10:56 a.m. Sept. 30, 2021 - By Myra P. Saefong
Oil futures finish higher, contributing to gains for the month and quarterOil futures finished , finding support from expectations for higher oil demand after state-owned energy companies to secure winter supplies at all costs. In the past, power shortages related to insufficient coal supplies led to purchases of oil, said Michael Lynch, president of Strategic Energy & Economic Research. He pointed out, however, that the Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, can "easily" raise oil production. on future production levels. The group is considering adding more oil to the global market, behind the production boost it previously agreed to, . West Texas Intermediate crude for November delivery rose 20 cents, or 0.3%, to settle at $75.03 a barrel on the New York Mercantile Exchange. Prices, based on the front-month contracts, gained 9.5% for the month and ended 2.1% higher for the quarter, according to Dow Jones Market Data.
9:50 a.m. Sept. 30, 2021 - By Mark Decambre
Dow loses grip on 34,000, S&P 500 skids below 100-day MA as indexes head for worst September in 10 yearsThe Dow Jones Industrial Average on Thursday was down over 400 points and the S&P 500 index was trading beneath an intermediate-term trend line, putting both bechmarks on track to post their worst September declines since 2011, according to Dow Jones Market Data. At last check, the Dow was down 440 points, or 1.3%, to reach around 33,946, down 4% on the month, and on the verge of the ugliest September performance since the index tumbled 6% in September of 2011. The S&P 500 index was trading 0.7% lower Thursday to reach around 4,326, with that downward pressure pushing the broad-market benchmark below its 100-day moving average at 4,344.58. Market technicians view moving averages as dividing lines between bullish and bearish momentum in an asset. The S&P 500's slump on Thursday was contributing to a 4.3% drop for the month and setting the stage for its worst September since a 7.2% drop in 2011.
5:35 a.m. Sept. 30, 2021 - By Mark Decambre
U.S. stock market gains early Thursday as investors aim to close out downbeat SeptemberU.S. stocks rise Thursday, as Wall Street aims to wrap up the last trading day of September and the quarter, as investors await another appearance by Federal Reserve Chairman Jerome Powell Treasury Secretary Janet Yellen, who will appear before the House Financial Services Committee. The Dow Jones Industrial Average was up 164 points, or 0.5%, at 34,554, the S&P 500 index was climbing 0.5% to 4,381, while the Nasdaq Composite Index was up 0.7% early in the session. For the month, the Dow was headed for a 2.4% decline, the S&P 500 was down 3.2% and the Nasdaq Composite was off 4.3%. For the quarter, the Dow was flat, the S&P 500 was up 1.9% and the Nasdaq Composite was up 0.8%.
12:11 p.m. Sept. 29, 2021 - By Mark Decambre
Nasdaq Composite books 4th straight loss as stock-market rebound fades in final hour of Wednesday tradeU.S. stock-market benchmarks closed slightly higher but well off the best levels of Wednesday's trade as Wall Street attempted to recover some of the losses from Tuesday's yield-fueled rout. The Dow Jones Industrial Average closed up by about 90 points, or 0.3%, to 34,391, on a preliminary basis; the S&P 500 index advanced 0.2% to around 4,359, while the Nasdaq Composite Index declined 0.2% at 14,512 to mark the fourth straight decline. Renewed concerns about too-hot inflation, which could force the Federal Reserve to ramp up interest-rate hikes, is causing friction in equity markets. The 10-year Treasury note yields [ss: BX:TMUBMUSD10Y] 1.540%, up from 1.534% on Tuesday. A number of other concerns, including those centered on the debt limit and the worries about weakening economic output, are also buffeting bulls.
10:36 a.m. Sept. 29, 2021 - By Myra P. Saefong
Oil futures end lower on rise in U.S. crude supplies, strength in the dollarOil futures ended , pressured by the first weekly in eight weeks, as well as strength in the U.S. dollar, with the U.S. ICE U.S. Dollar Index at its highest levels in about a year. West Texas Intermediate crude for November delivery fell 46 cents, or 0.6%, to settle at $74.83 a barrel on the New York Mercantile Exchange. Prices, based on the front-month contracts, were down a second straight session, after finishing Monday at their highest since October 2018, according to Dow Jones Market Data.
5:35 a.m. Sept. 29, 2021 - By Mark Decambre
Dow industrials attempt to bounce back after Tuesday's yield-driven selloffU.S. stock benchmarks were trading higher early Wednesday, following the worst selloff for the S&P 500 in roughly four months, as surging bond yields spooked investors. The Dow Jones Industrial Average was trading 0.3% higher at 34,398, the S&P 500 index was gaining 0.4%, following its worst daily percentage decline since May 12. The Nasdaq Composite Index was trading 0.6% higher near the start of Wednesday's action, at 14,827. Yields began their ascent last week, following a Federal Reserve meeting that indicated the central bank was ready to begin backing away from its accommodative policy put in place to help the economy cope with the pandemic. On Wednesday, the 10-year Treasury yield was edging back at around 1.52%. Bond prices move in the opposite direction of yields.
10:39 a.m. Sept. 28, 2021 - By Myra P. Saefong
Oil futures suffer first decline in 6 sessions Oil futures to post their first loss in six sessions, a day after settling at their highest price in almost three years. "Oil prices have finally responded to the ongoing risk-off sentiment observed in the stock and [foreign exchange] markets, with technology shares tanking" and the U.S. dollar surging against commodity dollars, emerging market currencies and the pound, said Fawad Razaqzada, market analyst at ThinkMarkets. West Texas Intermediate crude for November delivery fell 16 cents, or 0.2%, to settle at $75.29 a barrel on the New York Mercantile Exchange. Prices, based on the front-month contracts, finished at $75.45 on Monday, their highest since October 2018, according to Dow Jones Market Data.
6:28 a.m. Sept. 28, 2021 - By Mark Decambre
Panic-buying signs emerge---not selling---in Tuesday trade despite sharp tumble for broader stock market as yields climbWhile the Nasdaq Composite Index on Tuesday morning was suffering a decline of more than 2%, market internals suggest investors in the Nasdaq-listed stocks are buying rather than selling stocks. The Arms Index Arms Index, a volume-weighted breadth measure, fell to 0.426, while many on Wall Street see declines below 0.500 as suggesting panic buying. The Arms Index is calculated by dividing the ratio of the number of advancing stocks over decliners by the ratio of the volume of advancing stocks over declining volume and the Arms index often falls below 1.000, as the buyers rush into advancing stocks. The Nasdaq Composite was down 2.4% at 14,620, the S&P 500 index was trading 1.7% lower at around 4,369, while the Dow Jones Industrial Average was declining 1.2% at 34,452.
12:10 p.m. Sept. 27, 2021 - By Mark Decambre
Dow books longest win streak in 2 months but gains fade at Monday's end and S&P 500 and Nasdaq close lowerThe Dow Jones Industrial Average finished higher Monday, but the index managed to notch a fourth straight session of gains, but the blue-chip index ended well off the best levels of the session and the S&P 500 and Nasdaq Composite closed lower. Notably, small-capitalization stocks advanced sharply on the session, aided by a gain in energy shares which themselves were helped by a rally in crude-oil prices , rising to the highest level in about three years. The Dow closed about 71 points, or 0.2%, higher at 34,870, but ended well off its intraday peak at 35,061.12. The fourth straight session for blue chips matched its longest string of gains since the period ended Aug. 25. The S&P 500 index ended off 0.3% at 4,443, while the Nasdaq Composite Index finished the session down 0.5% at 14,970, on a preliminary basis. Meanwhile, the small-cap Russell 2000 index rose over 1% on the session. The moves for stocks came as the benchmark 10-year Treasury note touched 1.5%, its highest level since June, while the 30-year Treasury bond yield rose above 2%, marking its highest level since around mid August.
10:51 a.m. Sept. 27, 2021 - By Myra P. Saefong
U.S. oil prices settle at a nearly 3-year high; natural-gas futures up 11%Oil futures , with U.S. prices settling at their highest in almost three years. Natural-gas futures, meanwhile, rallied back to their highest level since February 2014. "Both oil and natural gas are expected to continue higher in the months ahead as fundamentals decidedly favor the bulls right now, while momentum and technicals both point to higher prices in the near to medium term," said Tyler Richey, co-editor at Sevens Report Research. U.S. crude inventories have fallen sharply in recent weeks due to the lingering impact of Hurricane Ida on energy operations in the Gulf Coast region. For natural gas, weather is almost always the biggest influence and "with expectations for a very cold winter this year, utilities and physical traders are stockpiling natural gas at a historically elevated rate," said Richey. West Texas Intermediate crude for November delivery rose $1.47, or 2%, to settle at $75.45 a barrel on the New York Mercantile Exchange. Prices, based on the front-month contracts, finished at their highest since October 2018, according to Dow Jones Market Data. October natural gas rose 57 cents, or 11%, to settle at $5.706 per million British thermal units --- the highest front-month contract finish since February 2014.
12:13 p.m. Sept. 24, 2021 - By Mark Decambre
Dow, S&P 500 shake off Evergrande-inspired shocks, Fed tapering talk to end week solidly higher The Dow Jones Industrial Average and the S&P 500 ended higher Friday and the broader market notched weekly gains, capping a wild stretch for equity markets that was initially marked by a bout of uncertainty over the potential collapse of China property developer Evergrande. The outlook for the developer, with some $300 billion in debt, remains uncertain. Still, the Dow closed up 0.1% at around 34,798, the S&P 500 index finished up 0.2% higher at 4,455, logging weekly gains of 0.6% and 0.5%, respectively, FactSet data show. The Nasdaq Composite Index finished the day lower, of less than 0.1%, as the benchmark 10-year yield rose to around 1.45%, contributing to a 9 basis point jump for the benchmark debt and marking the largest weekly rate rise since March 19, Dow Jones Market Data show. The yield-sensitive Nasdaq Composite still managed to end the week in positive territory. On the data front, U.S. new-home sales increased 1.5% to an annual rate of 740,000, the government said Friday. In corporate news, Nike Inc. shares fell about 6% after the sportswear maker reported quarterly sales that fell short of Wall Street expectations, and said wages and overhead expenses weighed on revenue. For the week, the energy sector produced the best gain of the S&P 500's 11, rising 4.7%, while financials rose 2.2%. On Wednesday, the Fed's Jerome Powell signaled that the central bank could soon end a key aspect of its market-supportive programs and aim to lift interest rates as early as 2022.
12:10 p.m. Sept. 22, 2021 - By Mark Decambre
Dow, S&P 500 post best daily gain in 2 months even as Fed says tapering of asset purchases coming soonU.S. stock indexes closed higher Wednesday, with the S&P 500 and the Dow industrials notching their best daily gains in about two months, as Federal Reserve Chairman Jerome Powell signaled the central bank may announce a pullback of its bond purchases in November and could start to raise interest rates in 2022, with both moves largely expected by market participants. Subsiding fears around embattled Chinese property development company Evergrande, which rattled investors on Monday, also helped set a more bullish tone on Wall Street. But investors are also watching developments in the U.S. Congress on raising the federal debt ceiling. The Dow Jones Industrial Average rose by about 338 points, or 1%, to reach 34,258, representing the best point and percentage gain for the blue-chip index since July 20; while the S&P 500 index climbed 1% to 4,395, marking the best day since July 23. The Nasdaq Composite Index , meanwhile, also rose 1% to 14,896 for its best day since Aug. 27, FactSet data show. In corporate news, shares of Stitch Fix Inc. rallied nearly 16% on Wednesday after reporting quarterly results.
10:08 a.m. Sept. 22, 2021 - By Mark Decambre
Dow rises over 400 points, adding to rally as Federal Reserve says reducing asset purchases 'may soon be warranted'The Dow industrials and the broader market held onto early sharp gains on Wednesday after the Federal Reserve kept rates unchanged, as expected, and indicated that tapering of asset purchases "may soon be warranted," without providing specific details on timing and pace. The Dow Jones Industrial Average was trading 449 points higher, or 1.3%, at 34,359, the S&P 500 index traded 1.2% up at 4,405, while the Nasdaq Composit Index advanced 1% at 14,895. The Fed decision will be followed by a news conference with Chairman Jerome Powell at 2:30 p.m. Eastern Time. The Fed has been buying $80 billion worth of Treasurys and $40 billion worth of mortgage-backed securities each month since last summer to keep long-term interest rates low and spur demand. Since the summer, the Fed has been talking about slowing down the purchases. The central bank has been guarded, worried there could be a repeat of the "taper tantrum" that roiled global financial markets in 2013. The formal announcement could come at the November 2-3 meeting or December 14-15, economists said.
5:34 a.m. Sept. 21, 2021 - By Mark Decambre
U.S. stocks drift higher early Tuesday as Wall Street attempts to bounce back from Evergrande-inspired routU.S. stock indexes climbed Tuesday morning, trading modestly higher as the market tries to recover from the worst single day for the S&P 500 in more than four months, sparked partly by concerns about Chinese property developer Evergrande. The Dow Jones Industrial Average gains 0.4% at 34,091, the S&P 500 index advanced 0.4% to 4,374, while the Nasdaq Composite Index climbed 0.4% to 14,776. Concerns about financial contagion from Evergrande, a property developer with some $300 bilion in debt, came at a critical juncture, with several firms having warned, correctly, that September would be bumpy for U.S. equities after a smooth summer. It also comes as the Federal Reserve kicks off its two-day policy meeting later Tuesday.
9:19 a.m. Sept. 20, 2021 - By Mark Decambre
Evergrande worries spark panic-like selling in NYSE as Dow industrials skid over 800 points MondayTrading in New York Stock Exchange-listed stocks on Monday were exhibiting panic-like-selling behavior as global stocks confronted a sharp selloff that has been attributed partly to concerns about the collapse of . The NYSE Arms Index, a volume weighted breadth measure that tracks the ratio of advancing stock to declining stocks over the ratio of advancing volume over declining volume, was showing a reading of 2.088 for NYSE-listed shares. Many technicians say a rise to at least 2.000 suggests panic-like selling behavior. The reading comes as the Dow Jones Industrial Average was off 2.4% at 33,762; the S&P 500 index was off 2.4% at 4,327 and the Nasdaq Composite Index was trading 2.8% lower at 14,616.
7:56 a.m. Sept. 17, 2021 - By Mark Decambre
All 11 of S&P 500's sectors fall midday Friday, led by tech and materials shares; healthcare struggles for loft All of the S&P 500's 11 sectors were trading in negative territory around midday Friday, led by sharp declines in information technology and materials. The tech sector was off 1.5%, while materials were down nearly 2%, which was weighing on the broader index. Health care was the best performing among the 11 sectors, but struggling to stay in positive territory. The S&P 500 index was down 38 points, or 0.9%, at 4,434, struggling to stay above its 50-day moving average at 4,436,67, according to FactSet. Meanwhile, the Dow Jones Industrial Average was down 0.6% at 34,531, while the Nasdaq Composite Index was down 1.2%. All three benchmarks had erased earlier weekly gains.
7:15 a.m. Sept. 17, 2021 - By Mark Decambre
S&P 500 sinks below 50-day moving average, raising possibility of first close below that trend line since June The broad-market S&P 500 index late-morning Friday was trading below its short-term moving average, which would put the benchmark on pace to end below that trend line for the first time since around mid June. The S&P 500 index , at last check, was down 0.8% on Friday at 4,436 and had hit a low of 4,435.54, with its 50-day moving average at 4,436.67, FactSet data show. Many technicial analysts see the 50-day MA as a guide to the short- to intermediate-term trend, so a close below the line could portend further weakness. Friday's drop for the S&P 500 index helped to erase its weekly gain and also put those for the Dow Jones Industrial Average and the Nasdaq Composite Index in negative territory. All week, the S&P 500 has been struggling to keep aloft of its 50-day moving average, which it hasn't closed below since June 18, according to Dow Jones Market Data.
12:06 p.m. Sept. 16, 2021 - By Mark Decambre
Dow, S&P 500 close lower as Nasdaq Composite ekes out back-to-back gains in volatile Thursday actionU.S. equity markets on Thursday finished well off session lows, with the Nasdaq Composite booking consecutive gains but the S&P 500 and the Dow notching slight losses, as investors parsed economic reports ahead of a key gathering of policy makers next week. The turbulence in the session, similar to what the market has exhibited over the past week, came even as August retail sales produced an unexpected rise and a measure of activity in the Philadelphia Federal Reserve district that was stronger than expected. The Nasdaq Composite Index closed 0.1% higher at 15,182, on a preliminary basis, enough for its second straight gain; the S&P 500 index finished down 0.2% at around 4,474; while the Dow Jones Industrial Average fell 0.2% to about 34,751. Data showed August retail sales rose 0.7%, defying forecasts for a 0.7% fall. Excluding autos, sales jumped 1.8%, compared with expectations for a rise of 0.2%. Separately, the Philadelphia Fed's activity index jumped to 30.7 in September from 19.4 a month earlier. At the same time, data showed first-time claims for unemployment benefits rose more than expected in the week ending Sept. 11, though continuing claims fell. In corporate news, AMC Entertainment Holdings Inc. announced in August it would accept bitcoin for online ticket and concession purchases before the end of the year. Thursday's trade was informed by a big pullback in China stocks, with the Shanghai Composite ending down 1.3%. Investors are looking ahead to the Federal Reserve's two-day policy meeting that kicks off on Sept. 21.
5:34 a.m. Sept. 16, 2021 - By Mark Decambre
Dow climbs at the open but broader stock market kicks off Thursday's trade under pressureU.S. stock benchmarks were mixed Thursday morning, with the Dow industrials posting modest gains while the broader market was under pressure, after August retail sales showed an unexpected rise and a measure of activity in the Philadelphia Federal Reserve district came in stronger than expected. The Dow Jones Industrial Average rose 0.3% at 34,909, the S&P 500 index declined less than 0.1%, while the Nasdaq Composite Index was down 0.3% at 15,120. August retail sales rose 0.7%, defying forecasts for a 0.7% fall. Excluding autos, sales jumped 1.8%, compared with expectations for a rise of 0.2%. Meanwhile, Philadelphia Fed's activity index, which jumped to 30.7 in September from 19.4 a month earlier. At the same time, data showed first-time claims for unemployment benefits rose more than expected in the week ending Sept. 11, though continuing claims fell.
12:05 p.m. Sept. 15, 2021 - By Mark Decambre
S&P 500 posts best daily gain in nearly 3 weeks as energy stocks surge 3.8%, financials and tech stocks also riseU.S. stocks benchmarks closed solidly higher Wednesday, with the S&P 500 putting in the best daily gain since late August, as shares of energy compaies, information technology and financial climbed. The S&P 500 index closed up 0.9% at around 4,480, marking its best point and percentage advance since Aug. 27. The Dow Jones Industrial Average closed up 0.7% at 34,814, while the Nasdaq Composite Index advanced 0.8% at 15,161, marking its best day since Aug. 30. In economic data, the New York Fed's Empire State business conditions index surged 16 points to 34.3 in September, the regional Fed bank said Wednesday.Separately, the import price index dropped 0.3% last month, the government said Wednesday, marking the first decline in 10 months. And data on U.S. industrial production showed a 0.4% rise in August after a 0.8% gain in the prior month, the Federal Reserve reported Wednesday.
12:13 p.m. Sept. 9, 2021 - By Mark Decambre
Dow, S&P 500 mark longest losing skid in 12 weeks as stock market wobbles lowerThe Dow Jones Industrial Average and the S&P 500 marked a fourth straight loss Thursday, relinquishing earlier gains that had been partly attributed to indications President Joe Biden will expand COVID-19 vaccine mandates for federal workers. Investors sold health-care, consumer-staples real-estate stocks, weighing on the broader market, which has mostly been trading in record territory until this holiday-abbreviated week's recent slump. The Dow closed down over 150 points, or 0.4%, at 34,879, losing its grip on 35,000, while the S&P 500 index retreated 0.5% at 4,493, marking the fourth consecutive decline for both indexes, which is the longest stretch of declines since a multisession skid ended June 18. The Nasdaq Composite Index fell 0.3% at 15,248. Trading on the session came as Fed Gov. Michelle Bowman said that she favored tapering of the central bank's asset purchases soon. Meanwhile, Europe's central bank said that it would conduct asset purchases under its pandemic emergency purchase program, or PEPP, at a "moderately lower pace" after accelerating purchases in recent quarters. In economic reports, initial jobless claims fell by 35,000 to 310,000 in the week ended Sept. 4, the Labor Department said Thursday, marking the lowest level of claims since the pandemic struck in March 2020 and the biggest decline in claims since late June. In corporate news, Lululemon Athletica soared 10% on the day after reports its quarterly results. The White House has signaled that President Biden will seek a fresh round of additional vaccine mandates for federal workers and push for those measures to be extended to employees of government contractors.
10:54 a.m. Sept. 8, 2021 - By Myra P. Saefong
Natural-gas futures at highest since 2014, oil prices rise on slow Gulf output recoveryNatural-gas futures marked their , while U.S. oil prices posted their first gain in three sessions, with both commodities buoyed by a slow recovery in Gulf of Mexico energy production about 10 days after Hurricane Ida made landfall on the Gulf Coast. The Bureau of Safety and Environmental Enforcement reported Wednesday that an estimated 76.88% of oil production and 77.25% of natural-gas production in the Gulf remains shut in. Weekly U.S. data on oil and natural-gas supplies from the Energy Information Administration will be released on Thursday morning. On the New York Mercantile Exchange, October natural gas tacked on 35 cents, or 7.6%, to $4.914 per million British thermal units, the highest front-month finish since February 2014, according to Dow Jones Market Data. West Texas Intermediate crude for October delivery rose 95 cents, or 1.4%, to settle at $69.30 a barrel.
12:09 p.m. Sept. 7, 2021 - By Mark Decambre
Dow logs worst day in about 3 weeks as Nasdaq Composite ekes out 36th record high of 2021 U.S. stock benchmarks finished the session mixed on Tuesday, with the Nasdaq Composite logging its 36th record high of the year, barely, while the Dow and S&P 500 ended the first day back from a three-day holiday in the U.S. in negative territory. Indeed, the Dow ended the session down 268 points, or 0.8%, lower at about 35,100, on a preliminary basis, ringing up the sharpest one-day point and percentage drop since Aug. 18, when the blue-chip index closed about 382 points, or 1.1% lower. The S&P 500 ended down 0.3% at 4,520, weighed by declines in industrials, consumer staples, real estate and utilities. The Nasdaq Composite Index , meanwhile, edged up less than 0.1%, but notched a sufficient rise for an all-time closing high. In corporate news, Ford Co. saw its shares pop after announcing that it hired Doug Field, a former executive at Tesla Inc. and the executive behind Apple Inc.'s automobile ambitions.
5:35 a.m. Sept. 7, 2021 - By Mark Decambre
Nasdaq hits intraday record but Dow, S&P 500 open lower Tuesday morning as investors return from Labor Day holidayThe Dow and S&P 500 indexes opened lower Tuesday, as investors returned from a three-day weekend, with markets closed on Monday in observance of Labor Day. The Dow Jones Industrial Average was trading 0.3% lower at 35,280, the S&P 500 index was off 0.2% at 4,528, while the Nasdaq Composite Index was trading 0.1% higher at 15,371, after carving out an all-time intraday high at 15,387.45.
12:08 p.m. Sept. 3, 2021 - By Mark Decambre
Nasdaq Composite marks 35th record close of 2021 but S&P 500, Dow limp lower after weak Friday jobs reportU.S. stock indexes ended mixed Friday, with the Nasdaq booking its 35th record close of 2021, but the other two main bourses closing lower, heading into a three-day Labor Day weekend, after a report on monthly employment from the Labor Department came in weaker than expected, sparking fresh questions about the job market's recovery from the COVID-19 pandemic amid the spread of the delta variant. The Dow Jones Industrial Average closed down 0.2% on the session and booked a weekly decline of 0.24%. The S&P 500 index finished 0.03% lower on Friday but marked a 0.6% gain for the week, while the Nasdaq Composite notched a 0.2% gain for the day, enough for a record closing high---its 35th of the year---contributing to a weekly gain of 1.6%, FactSet data show. Monthly reports from the Labor Department showed that the U.S. economy added 235,000 jobs in August, far fewer than forecast for an increase of 720,000, but the unemployment rate dropped to 5.2% from 5.4% and touched a new pandemic low. The jobs report is creating some uncertainty about the monetary-policy plans for the Federal Reserve. Fed Chairman Jerome Powell has signaled that the central bank would use employment as a key indicator while it considers the end of its pandemic-era measures to add liquidity to markets.
5:39 a.m. Sept. 3, 2021 - By Mark Decambre
Dow slumps at Friday's open after U.S. jobs report comes in weaker than expected U.S. stock benchmarks wobbled lower Friday after the Labor Department's employment report for August showed that a weaker-than-expected 235,000 jobs were created, even as the unemplyoment rate fell to 5.2% from 5.4% in the prior month. The Dow Jones Industrial Average was trading 0.3% lower at 35,340, the S&P 500 index was down 0.3% at 4,523, while the Nasdaq Composite Index was trading 0.3% lower at 15,285 early in the session. Economists surveyed by the Wall Street Journal had forecast on average that 720,000 jobs would be created in August. The data raises some questions about the timing and pace of the Federal Reserve's plans to remove monetary policies that have been in place since the height of the disruptions to financial markets from the COVID-19 pandemic. The lackluster headline employment figure also raises the question of how well the economy is growing jobs in the aftermath of the pandemic amid the emergence of the highly transmissible COVID-19 delta variant.
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