Category: Stock Market News

The Federal Reserve’s monthly release of Janet Yellen’s calendar shows that she meet with Ivanka Trump, the daughter of President Trump and a senior White House adviser. The calendar does not show what they discussed at the July 17 breakfast meeting. President Trump has said that he’s considering renominating Yellen after her term as chair expires next year. Yellen also had lunch with Gary Cohn, the director of the National Economic Council — and also someone considered to be a Fed chair candidate.

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From:: Stock Market News

U.S. stocks on Monday kicked off the first full week of trading in September with a bang, underlined by the S&P 500 ending at a record, as a raft of meteorological and geopolitical jitters gave way to a re-emergence of appetite for assets perceived as risky. The S&P 500 index closed up 1.1% at 2,488, marking its first record close since Aug. 7 and its 31st in 2017, buoyed by gains in the technology and financials sectors. Financials, as gauged by the PowerShares KBW Bank Portfolio and the Financial Select Sector SPDR ETF booked their best daily rises since June 9, according to FactSet data. Bank stocks benefited from a resurgence in benchmark Treasury yields, with the 10-year Treasury note rising to 2.13%, compared with 2.05% late Friday. Higher yields support a banks’s business models. The Dow Jones Industrial Average , meanwhile, jumped about 260 points, retaking is perch above 22,000, while the Nasdaq Composite Index closed up 1.1%. The technology sector has often been viewed as a gauge of Wall Street’s tolerance for risk, seeing heavy bidding when investors feel bullish on the market. Monday’s bounce was attributed to Hurricane Irma hitting Florida with less force than feared and North Korea refraining from conducting another missile test in the Korean Peninsula, factors that last week had helped push stocks and bonds mostly lower. The relatively milder impact of Hurricane Irma helped insurers, bracing for bigger liabilities from the storm, rally, highlighted by a 3.1% advance in the PowerShares KBW Property & Casualty Insurance Portfolio , a popular exchange-traded fund used to invest in the in the sector. Art Cashin, UBS’s director of floor operations, on CNBC described Monday trading as a two-pronged “sigh of relief rally.” In corporate news, shares of Apple Inc. bounced 1.8% ahead of what is expected to be the debut of a fresh lineup of iPhones and other products from the Cupertino, Calif.-based tech giant.

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From:: Stock Market News

Gold prices dropped Monday to settle at their lowest level in just over a week, after ending last Friday at their highest since early September. Investment demand for the precious metal dulled as tensions between the U.S. and North Korea and concerns surrounding Hurricane Irma eased back. Strength in the dollar and U.S. equities also pressured prices for the metal. December gold fell $15.50, or 1.2%, to settle at $1,335.70 an ounce. That was the lowest finish since Sept. 1. The decline followed Friday’s settlement at $1.351.20, which was the highest for a most-active contract since Sept. 6, according to FactSet data.

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From:: Stock Market News

U.S. stock-index benchmarks jump on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average traded 262 points, or 1.2%, at 22,060, while the S&P 500 index climbed 1.1% at 2,488, putting the broad-market gauge within range of its intraday high. The Nasdaq Composite Index rallied 1.1% at 6,432, was within range of its all-time closing high. In corporate news, investors awaited the debut of Apple Inc.’s new iPhone 8 on Tuesday. In other corporate news, shares of Teva Pharmaceutical Industries Ltd. were up, after the Israeli drug company on Monday named Lundbeck’s Kare Schultz as its new chief executive. Meanwhile, Wall Street was marking the anniversary of 9/11.

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From:: Stock Market News

The S&P 500 and Dow Jones Industrial Average rallied more than 1% on Monday and were on track for their biggest one-day percentage gain in six months, according to FactSet. Monday’s gains have been largely attributed to less severe outcome from Hurricane Irma and a relatively quiet weekend on the Korean peninsula. The S&P 500 was up 26 points, or 1%, to 2,487.21, only a few percentage points below its intraday record at 2,490.91, set last month. The Dow Jones Industrial Average rose 251 points, or 1.1%, to 22,049.65, trading less than a percentage point below its all-time high set last month. The Nasdaq Composite is up 72 points, or 1.1%, to 6,432.37, a few points below its record close set on September 1.

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From:: Stock Market News

U.S. stock-index benchmarks jump on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average traded 250 points, or 1.2%, at 22,054, while the S&P 500 index climbed 1.1% at 2,487, putting the broad-market gauge within range of its intraday high. The Nasdaq Composite Index rallied 1.1% at 6,432, was within range of its all-time closing high. In corporate news, investors awaited the debut of Apple Inc.’s new iPhone 8 on Tuesday. In other corporate news, shares of Teva Pharmaceutical Industries Ltd. were up, after the Israeli drug company on Monday named Lundbeck’s Kare Schultz as its new chief executive. Meanwhile, Wall Street was marking the anniversary of 9/11.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

U.S. stock-index benchmarks jump on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average traded 233 points, or 1.1%, at 22,032, while the S&P 500 index climbed 1% at 2,484, putting the broad-market gauge within range of its closing high. The Nasdaq Composite Index rallied 1% at 6,425, also within range of an all-time closing high. In corporate news, investors awaited the debut of Apple Inc.’s new iPhone 8 on Tuesday. In other corporate news, shares of Teva Pharmaceutical Industries Ltd. were up, after the Israeli drug company on Monday named Lundbeck’s Kare Schultz as its new chief executive. Meanwhile, Wall Street was marking the anniversary of 9/11.

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From:: Stock Market News

The Dow Jones Industrial Average was trading firmly higher on Monday, aided by a pop in shares of Apple Inc., and Goldman Sachs Group. Shares of Goldman , up $4.04., or 1.8%, were contributing about 27 points to the price-weighted Dow . Apple Inc.’s shares added about 22 points, ahead of the Cupertino, Calif.-based tech giant’s latest iPhone on Tuesday. Goldman’s shares may be tied to a rise in yields, with the 10-year benchmark Treasury note at 2.11% from 2.05% late Friday in New York. Higher yields are bullish for banks’ lending models. A $1 move in any Dow component equates to a 6.89-point swing in the Dow. Overall , the market was enjoying a broad-based rally power by the financial sector and technology shares , both leading gains for the S&P 500 index . Most recently, the Dow was up 210 points, or 1%, at 22,008, the S&P 500 was 0.8% higher, while the Nasdaq Composite Index was looking at a gain of 1.2% at 6,433. The rally came in part as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, reviving investor appetite.

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From:: Stock Market News

Alphabet Inc.’s Google on Monday launched an appeal against the European Union’s 2.4 billion euro ($2.9 billion) antitrust fine that it was hit with in June. The EU’s competition commission had ruled that Google abused its dominant position to favor its own shopping comparison service in internet searches, ordering the company to stop the practice by Sept. 28. Google has previously said it disagreed with the EU decision and had indicated it would file an appeal. A spokesperson from the EU said “the Commission will defend its decision in court.” Last week, the EU’s highest court backed Intel Corp.’s appeal of a €1.06 billion antitrust fine from 2009, seen as dealing a blow to the antitrust regulator. Alphabet shares were up 1% in Monday’s trade.

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From:: Stock Market News

U.S. stock-index benchmarks jumped at the open on Monday, as Hurricane Irma hit Florida with less force than expected and North Korea failed to conduct another nuclear missile test over the weekend, helping to lure investors into buying assets perceived as risky like equities. The Dow Jones Industrial Average opened up 201 points, or 0.9%, at 22,010, while the S&P 500 index climbed 0.9% at 2,483, putting the broad-market gauge within range of its closing high. The Nasdaq Composite Index rallied 1.2% at 6,438, also within range of an all-time closing high. In corporate news, investors awaited the debut of Apple Inc.’s new iPhone 8 on Tuesday. In other corporate news, shares of Teva Pharmaceutical Industries Ltd. were up, after the Israeli drug company on Monday named Lundbeck’s Kare Schultz as its new chief executive. Meanwhile, Wall Street was marking the anniversary of 9/11.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News