U.S. stocks edged lower for a second consecutive session on Friday as some underwhelming corporate earnings and gross domestic product data offset recent enthusiasm over policy actions by President Donald Trump. The stock was the biggest drag on the S&P 500 and the Dow Jones Industrial Average indexes.
Wall Street rises, buoyed by economic data; Dow sets high
December 5, 2016 By
U.S. services sector activity hit a one-year high in November, with a surge in production boosting hiring, following on the heels of Friday's employment report that showed strong job gains last month. “A lot of people were negative going into the election, or cautious, so now they’re scrambling year-end to own stocks,” said Alan Lancz, president of investment advisory firm Alan B. Lancz & Associates Inc in Toledo, Ohio. The Dow Jones industrial average rose 45.82 points, or 0.24 percent, to 19,216.24, the S&P 500 gained 12.76 points, or 0.58 percent, to 2,204.71 and the Nasdaq Composite added 53.24 points, or 1.01 percent, to 5,308.89.
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Wall Street rises, buoyed by economic data; Dow sets high
Wall Street slips; indexes still near record highs
November 18, 2016 By
The Nasdaq hit a record high earlier in the session, helped by a rise in Microsoft and other big tech stocks. U.S. stocks had been on a tear since Donald Trump's surprise victory in the presidential election last week as his proposals to increase infrastructure spending and reduce taxes are seen benefiting the economy. The rally lost steam this week as investors took to the sidelines, awaiting more clarity regarding Trump's policies.
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Wall Street slips; indexes still near record highs
Weak utilities demand restrains U.S. industrial production
October 17, 2016 By
U.S. industrial production barely rose in September as a rebound in manufacturing and mining output was offset by surprisingly weak demand for utilities, pointing to a moderate acceleration in economic growth in the third quarter. Gains in output are likely to be muted as the sector remains constrained by the lingering effects of the dollar's past rally, a collapse in oil prices and weak global demand. The Fed said industrial output edged up 0.1 percent last month after declining 0.5 percent in August.
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Weak utilities demand restrains U.S. industrial production
Wall Street sells off on weak earnings, election fears
October 11, 2016 By
Illumina shares plummeted 24.8 percent and were among biggest drags on the S&P 500 after the diagnostic test maker's weak quarterly update. Although overall S&P 500 earnings are currently expected to fall 0.7 percent in the third quarter, according to Thomson Reuters data, a typical number of better-than-expected reports would result in a positive quarter. At the same time, investors are bracing for the U.S. Federal Reserve to raise interest rates by the end of the year.
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Wall Street sells off on weak earnings, election fears
Wall Street rises in wake of first presidential face-off
September 27, 2016 By
Amazon.com increased 1.98 percent and the consumer discretionary index gained 0.93 percent higher after a report showed that the consumer confidence index for September rose to its highest level in nine years. Following the first of three presidential debates on Monday, Trump vowed to hit Clinton harder after she put him on the defensive. “From a market perspective, rightly or wrongly, there is an understanding that Mrs Clinton would be a safe pair of hands, that there's very little uncertainty there,” said Brad McMillan chief investment officer for Commonwealth Financial in Waltham, Massachusetts.
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Wall Street rises in wake of first presidential face-off
Wall Street rallies as Fed holds fire on rates
September 21, 2016 By
NEW YORK (Reuters) – Wall Street racked up gains on Wednesday, and the Nasdaq closed at a record high, after the U.S. Federal Reserve kept interest rates unchanged, for now leaving intact the low-rate environment that has helped underpin the bull market.
Wall Street Week Ahead: Sleepy summer may give way to freaky fall
September 3, 2016 By
The dog days of summer have lived up to their sleepy reputation this year as far as U.S. stocks are concerned, but market gyrations could soon pick up as a traditionally more volatile time of year looms.
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Wall Street Week Ahead: Sleepy summer may give way to freaky fall