|Day's Range||27,177.75 - 27,258.72|
|52 Week Range||21,712.53 - 27,398.68|
Fed Chairman Jerome Powell faces the tough task of corralling a committee dividing further on where rates should go next.
The Federal Reserve will announce its next moves on rates this afternoon. Wall Street is expecting a 25 basis point cut.
The Fed 2-day meeting wraps today with an expected rate cut announcement from Jay Powell. Yahoo Finance's Julie Hyman, Adam Shapiro, Krishna Memani, Invesco Vice Chair of Investments and Danielle DiMartino Booth, Quill Intelligence CEO and Chief Strategist discuss.
When momentum stocks blew up, everyone got excited about the possibility that it would be value’s turn to shine. But with the Federal Reserve cutting interest rates, there’s a good chance that investors will just go back to buying what has worked.
U.S. stock benchmarks Thursday morning are heading modestly higher as investors weigh better-than-expected housing and manufacturing data in the wake of the Fed interest rate cut Wednesday
The leading economic index was flat in August after a big gain in the prior month, the Conference Board said Thursday. The recent performance of the index is consistent with "a slow but still expanding economy," said Ataman Ozyildirim, senior director for economic research at the Conference Board. Strength in housing permits and credit growth offset weakness from manufacturing.
The numbers: Sales of previously-owned homes jumped 1.3% in August as falling mortgage rates continued to entice consumers. Existing-home sales occurred at a 5.49 million seasonally-adjusted annual pace in August, up from a 5.42 million rate in July, the National Association of Realtors said Thursday. Economists polled by MarketWatch had expected the average annual rate of existing-home sales to fall to 5.39 million.
The major stock indexes were modestly higher early Thursday. Dow Jones stock Microsoft is breaking out above a new buy point.
Microsoft Corp. shares are on track to close at a new record high on Thursday following the company's announcement of an 11% dividend increase and the approval of a new $40 billion stock buyback program. The stock hit a new intraday high of $141.83 and is currently trading above its previous record close of $141.32 from July 26. "Given $133 billion in cash (~$60 billion in net cash), the move to increase the dividend and share buy-backs should be welcomed by investors," Oppenheimer analyst Timothy Horan said in a note to clients. Microsoft is leading the Dow Jones Industrial Average higher on Thursday, and its dividend hike puts the stock's implied yield at 1.47%, above Apple Inc.'s 1.38%. Microsoft's stock is up 40% so far this year, while Apple shares are up 41% and the Dow is up 17%.
DOW UPDATE Led by positive growth for shares of Microsoft and IBM, the Dow Jones Industrial Average is climbing Thursday morning. The Dow (DJIA) is trading 68 points, or 0.3%, higher, as shares of Microsoft (MSFT) and IBM (IBM) have contributed to the index's intraday rally.
Stocks opened slightly higher Thursday, with tech shares leading gains. The Dow Jones Industrial Average rose 73 points, or 0.2%, to 27,220, while the S&P 500 gained 8 points, or 0.3%, to 3,015. The Nasdaq Composite was up 32 points, or 0.4%, at 8,209. Shares of Microsoft Corp. rose 1.9% to lead Dow gainers and set the pace for the tech sector after announcing an 11% dividend hike and approving a $40 billion stock-repurchase program.
Sept 19 (Reuters) - U.S. stocks opened higher on Thursday, boosted by Microsoft Corp and energy stocks, a day after the Federal Reserve cut rates as expected but played down hopes of further monetary easing. The Dow Jones Industrial Average rose 38.97 points, or 0.14%, at the open to 27,186.05. The S&P 500 opened higher by 3.63 points, or 0.12%, at 3,010.36. The Nasdaq Composite gained 16.20 points, or 0.20%, to 8,193.59 at the opening bell.
Navistar International Corp. said Thursday it will create 600 new jobs in San Antonio, as the commercial trucks and bus maker will make a $250 million investment to build a new manufacturing facility. The new facility will have the flexibility to build Class 6-8 vehicles, and builds on recently announced plans to invest $125 million in an engine plant in Huntsville, Ala. Navistar said the facility in San Antonio will be located along Interstate 35 to link the company's supply bases in the southern U.S. and Mexico, "allowing for significant logistic improvements, resulting in lower cost and enhanced profitability." Navistar's stock, which was still inactive in premarket trading, has tumbled 15.1% over the past three months while the Dow Jones Industrial Average has gained 2.4%.
The Fed did exactly what the market predicted it would by cutting rates a quarter point. It barely changed its statement. And it’s back to the status quo.
Investors are still digesting Wednesday’s decision by the Federal Reserve to cut interest rates by 0.25 percentage point.
Shares of Microsoft Corp. rose 1.3% to pace the premarket gainers among the Dow Jones Industrial Average's components, after the software behemoth announced an 11% dividend hike and approved a $40 billion stock repurchase program. Based on Wednesday's stock closing price of $138.52, the new annual dividend rate of $2.04 raises Microsoft's implied dividend yield to 1.47% from 1.33%, to leapfrog Apple Inc.'s yield of 1.38% into 25th place among the Dow's 30 components. Apple's stock edged up 0.1% ahead of the open. The premarket stock gains indicates Microsoft will stretch its lead as the largest U.S. company by market capitalization, which was $1.06 trillion as of Wednesday's close, above second-place Apple at $1.01 trillion.
The U.S. current-account deficit, a measure of the nation's debt to other countries, narrowed by 5.9% in the second quarter, the government said Thursday. The current-account deficit narrowed to $128.2 billion from a revised $136.2 billion in the first quarter. The narrowing of the deficit primarily reflected an expanded surplus of primary income, mostly increases in portfolio investments. The current account deficit was equal to 2.4% of GDP in the second quarter, down from 2.6% in the first quarter. This is well below the peak of 6.3% in 2005.
Dow futures: The stock market rally held up after a Fed rate cut and Fed chief Jerome Powell's comments. Apple is a buy again. Microsoft rose late on a buyback. Will AT&T; sell DirecTV?
Investing.com – Wall Street opened higher on Thursday as signs of confidence from Microsoft (NASDAQ:MSFT) and gains in chip stocks offset mixed signals from the Federal Reserve.
Stocks are higher as strong gains from Microsoft and tech companies offset mixed signals from the Federal Reserve after the central bank cut interest rates for the second time this year.
We’ve been watching the markets today and over the past few days after the Saudi Arabia attack and are surprised with the real lack of volatility in the US major markets – excluding the incredible move higher, then lower in Oil. The real news appears to be something completely different than Oil right now. Might it be the Fed Meeting?