|Day's Range||8,174.32 - 8,237.43|
|52 Week Range||6,190.17 - 8,339.64|
Fed Chairman Jerome Powell faces the tough task of corralling a committee dividing further on where rates should go next.
Thursday, investors can expect the weekly initial jobless claims figures, as well as existing home sales for the month of August.
The S&P 500 flirted with record territory but lost steam ahead of the closing bell on Thursday, with major indexes ending on either side of unchanged. The S&P 500 ended less than a point lower near 3,006, according to preliminary figures, after seeing a session high of 3,021.99, shy of its all-time closing high of 3,025.86 set on July 26. The Dow fell around 53 points to close near 27,093, while the Nasdaq Composite held on to a gain of around 5 points, or 0.1%, to finish near 8,183.
On Thursday, U.S. equity benchmarks were staging a test of fresh all-time highs, a day after the Federal Reserve cut interest rates for the second time in as many meetings.
A Microsoft-led rally in technology shares pushed U.S. stock indexes higher on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary intervention. Shares of the software giant rose 2.2% after the company unveiled a $40 billion stock buyback plan, boosting the S&P 500 benchmark index and driving the broader technology sector up 0.8%. The S&P 500 was about 10 points shy of its record high of 3,027.98, as markets also turned optimistic about low-level trade talks between the United States and China.
Microsoft and healthcare companies lifted Wall Street on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary easing. Microsoft rose 1.9% after unveiling a $40 billion stock buyback plan, and its increase contributed more than any other company to the S&P 500's gain. The S&P 500 was less than 1% below its record high close from July as markets also became more optimistic about talks between U.S. and Chinese deputy trade negotiators aimed at laying the groundwork for high-level negotiations in early October.
“The Democratic Party seems to be leaning towards the left on policies, which is very harmful for the economy. I don’t like the shift to the left,” he explained, adding we could see a 25% plunge in the market if Warren gets elected.
Kevin Muir, longtime trader and market strategist at Toronto-based East West Investment Management, says he’s preparing for a market storm that everybody else seems to be discounting. He explains how you can, too.
Gains in Microsoft and healthcare shares boosted Wall Street's main indexes on Thursday, a day after the Federal Reserve cut interest rates as expected and left the door open for further monetary easing. The S&P 500 was about 12 points shy of its record high of 3,027.98, as markets also turned optimistic on talks between U.S. and Chinese deputy trade negotiators aimed at laying the groundwork for high-level negotiations in early October.
The Dow Jones, S&P; 500 and Nasdaq backed off highs in afternoon trading Thursday, but Microsoft held a solid gain on news of a big share buyback.
The Federal Reserve lowered interest rates by a quarter point, with some responses suggesting it made a blunder of historic proportions. But history indicates it might have made the right choice.
The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all rose the day after the Federal Reserve lowered interest rates again.
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.
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.
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.
Investors are still digesting Wednesday’s decision by the Federal Reserve to cut interest rates by 0.25 percentage point.
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?
All three major indexes rebounded by Wednesday’s close after initially diving after the Federal Reserve’s 25-basis-points rate cut. The Fed didn’t loosen monetary policy. The Dow Jones Industrial Average and S&P 500 managed to close with some gains.
There had been some concern before the meeting that the Fed might not lower interest rates. But the Fed cut rates by a quarter point, and nothing else. Donald Trump is not happy.
The S&P 500 ended marginally higher on Wednesday after Federal Reserve policymakers cut interest rates by a quarter of a percentage point, as expected, but gave mixed signals about their next move. With continued economic growth and strong hiring "the most likely outcomes," the Fed nevertheless cited "uncertainties" about the outlook and pledged to "act as appropriate" to sustain the expansion. Stocks sold off immediately after the Fed's announcement but rebounded during Chairman Jerome Powell's press conference.
The S&P 500 and the Dow reversed losses to close higher on Wednesday and U.S. Treasury yields slipped after remarks by Federal Reserve Chair Jerome Powell tempered the market's initial reaction to the U.S. central bank's policy statement. All three major U.S. stock indexes initially extended earlier losses following the release of the Fed's policy decision after the close of a two-day meeting, which dimmed hopes for further rate cuts and fell short of the more aggressive reduction in borrowing costs that President Donald Trump had demanded.
President Donald Trump ripped the Federal Reserve after the central bank cut interest rates by a quarter point Wednesday, as he ordered more sanctions on Iran and named a new national security adviser.