|Day's Range||7,930.38 - 7,998.59|
|52 Week Range||6,190.17 - 8,176.08|
Stocks edged up as investors reacted to the Federal Reserve’s latest monetary policy decision to keep benchmark interest rates unchanged.
Bain Capital Co-Managing Partner John Connaughton sits down with Yahoo Finance's Julie Hyman, Adam Shapiro, and Julia La Roche to discuss the changing landscape of how private equity dealmaking.
Michael Hanson, Senior VP of Research at Fisher Investments, says that what is "most important for investors today is to think about the global liquidity environment. It’s not just about the Fed." Yahoo Finance's Alexis Christoforous and Brian Sozzi speak to him.
Troy Gayeski, co-Chief Investment Officer at SkyBridge Capital, says despite negative short-term headlines, investors should focus on the “robust” U.S. economy. He spoke with Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Scott Gamm.
Dow Jones futures: The stock market rally faces one joint obstacle — record highs and the Trump-Xi meeting. Oracle jumped late on strong earnings after software stocks led Wednesday's gains.
Insiders at tech companies are telling us our worries about the market are overblown. Over the past few weeks, insiders at more than a dozen tech firms have purchased significant amounts of their company stock. Buying has been especially pronounced at chip companies, which are particularly sensitive to China trade war saber-rattling and changes in growth prospects.
The Federal Reserve left interest rates unchanged, but also hinted it could cut rates in the future. All three major indexes closed in the black.
The Nasdaq composite rose just 0.4% on Thursday, but it beat the Dow Jones Industrial Average. This sector is helping make growth stocks look more bullish lately.
A gauge of global stock markets strengthened on Wednesday, bolstered by gains on Wall Street, and benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signaled possible interest rate cuts over the rest of this year. The U.S. central bank held interest rates steady, as expected, but said it "will act as appropriate to sustain" the country's economic expansion as it approaches the 10-year mark and dropped a promise to be "patient" in adjusting rates. The market expects the Fed could cut rates as soon as its next meeting, in July.
U.S. stocks close higher Wednesday after the Federal Reserve kept interest rates unchanged as expected but dropped the word “patient” in its statement, suggesting rates could be cut soon if needed
The S&P 500 approached a record high on Wednesday after the Federal Reserve signaled potential interest cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. In its statement following a two-day policy meeting, the Fed held rates steady, as expected, but dropped a previous promise to be "patient" in adjusting rates. "We think the Fed delivered.
June 19 (Reuters) - The S&P 500 approached its record high on Wednesday after the Federal Reserve signaled potential U.S. interest rate cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. The Dow Jones Industrial Average rose 38.59 points, or 0.15%, to 26,504.13, the S&P 500 gained 8.72 points, or 0.30%, to 2,926.47 and the Nasdaq Composite added 33.44 points, or 0.42%, to 7,987.32. (Reporting by Noel Randwich Editing by James Dalgleish
U.S. stocks ended modestly higher Wednesday after the Federal Reserve left their benchmark interest rate unchanged at a range between 2.25% and 2.50%, but opened the door to rate cuts later this year. The S&P 500 was up 0.3% to end around 2,926. The Dow Jones Industrial Average advanced 29 points, or 0.1%, to finish near 26,504, based on preliminary numbers. The Nasdaq Composite was up 0.4% to finish around 7,987. The U.S. central bank took out the phrase "patience" from its policy statement, and said it stood ready to act appropriately if risks to the economic outlook reared their head. The Fed's interest-rate projections also showed close to half the members of the central bank's policy-making group anticipated two rate cuts this year. The 10-year Treasury note yield fell to 2.02%, its lowest since Nov. 8 2016. In company news, shares of CBS Corp. were up 1% after news reports said the media giant was readying an offer to buy Viacom Inc.
The Federal Reserve chose to leave interest rates unchanged at the conclusion of its two-day meeting, a widely expected outcome that nevertheless left the door open for a rate cut if the economy weakens.
Barring a major change in the economic outlook, the Federal Reserve will soon begin lowering interest rates. While rates were left unchanged for now, most Fed officials indicated the central bank will cut them before the end of the year.
The Dow Jones and other key stock market indexes showed modest gains after the Fed left interest rates unchanged but said it's ready to act.
Wall Street rose on Wednesday after the Federal Reserve held interest rates steady and signaled potential cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth. "We think the Fed delivered. It'll likely be coming in July absent some big trade news or other news," said John Augustine, chief investment officer at Huntington Bank in Columbus, Ohio.
U.S. stocks rose Wednesday afternoon after the Federal Reserve appeared to deliver a dovish update to its policy message. The central bank said it acknowledges that "uncertainties" have increased in the economy and opted to remove the word "patient" from its updated statement, even as it left benchmark rates at a range between 2.25%-2.50%. The vote was 9-1 to keep rates steady but the dot plot, a projection of estimates for future rate cuts by Fed members signals that a rate cut could be in the offing. The Dow Jones Industrial Average gained 60 points, or 0.2%, at 26,518, the S&P 500 index climbed 0.2% to 2,924, while the Nasdaq Composite Index rose 0.2% to 7,967. The 10-year Treasury note , meanwhile, was at 2.05%, falling from 2.09% earlier in the day. Fed Chairman Jerome Powell will hold a news conference to discuss the policy moves at 2:30 p.m. Eastern Time. The Fed remained generally optimistic about the economy, but the Fed acknowledged that inflation pressures have receded. The rate-setting Federal Open Market Committee cut its forecast for PCE inflation in 2019 to 1.5% from 1.8%, well below its 2% target. It left its GDP estimate at 2.1%. The FOMC's dot plot predicts one rate cut next year that drops the fed funds to 2.1%, with one increase in 2021 bringing it back up to the current 2.4% level. In another move, the Fed lowered its "longer run" forecast for its fed funds rate to a new low of 2.5% from 2.8%.
The Federal Reserve didn't cut rates on Wednesday, but signaled Fed rate cuts could be coming. That helped lift stocks, though action was volatile.
WASHINGTON (MarketWatch) - The Federal Reserve on Wednesday left its short-term fed funds rate unchanged and said it "will closely monitor" the economy in light of growing "uncertainties." The so-called dot-plot projections signaled the Fed is unlikely to cut before 2020, though members were sharply divided. Nine senior Fed officials predicted no rate cuts this year while eight forecast one or two reductions. The vote to hold rates steady was 9-1, with St. Louis Fed President James Bullard dissenting in favor of a quarter-point rate cut. The central bank remained generally optimistic about the economy, but the Fed acknowledged "uncertainties" have increased and that inflation pressures have receded. The FOMC cut its forecast for PCE inflation in 2019 to 1.5% from 1.8%, well below its 2% target. It left its GDP estimate at 2.1%. The FOMC's dot plot predicts one rate cut next year that drops the fed funds to 2.1%, with one increase in 2021 bringing it back up to the current 2.4% level. In another move, the Fed lowered its "longer run" forecast for its fed funds rate to a new low of 2.5% from 2.8%.
Facebook finally revealed the details of its Libra, its highly anticipated entry into the crowded cryptocurrency space. One strategist sees it as something more menacing.