Tag: stock market

The Dow Jones Industrial Average bounced back, coming off its lows, Friday afternoon after Deputy Attorney General Rod Rosenstein said no American knowingly colluded with Russia in trying to influence the 2016 election. Rosenstein during a news conference said that there’s no evidence efforts to impact that presidential vote were successful. The Dow Jones Industrial Average was up 84 points, or 0.3%, at 25,281, in recent trade, the S&P 500 index rose 0.4% at 2,740, while the Nasdaq Composite Index added less than 0.1% at 7,259. The stock market turned lower Friday afternoon following reports that 13 Russians were indicted for attempting to interfere with the 2016 election. Rosenstein said there’s no allegation any American participated in unlawful activity.

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Clean Energy company NextEra Energy said Friday it is raising its quarterly dividend by 13% to $1.11. The new dividend will be payable March 15 to shareholders of record as of Feb. 27. The board further approved a two-year extensions of its dividend policy, which is expected to lead to 12% to 14% increases per year through at least 2020. Shares rose 1.1%, but are down 0.1% in the last 12 months, while the S&P 500 has gained 17%.

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Oil futures maintained gains Friday after data showed a rise in the number of U.S. oil rigs this week. Baker Hughes said the number of U.S. oil rigs rose to 798 versus a total of 791 a week ago. West Texas Intermediate crude for March delivery was up 36 cents, or 0.6%, at $61.53 a barrel.

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Special Counsel Robert Mueller has indicted 13 Russian nationals and three Russian entities, accusing them of interfering in U.S. elections. The entities include the Internet Research Agency — described as a Russian group engaged in operations to interfere with political processes — and multiple defendants associated with it. The indictment says the defendants were supporting Donald Trump’s campaign and disparaging Hillary Clinton.

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The Federal Bureau of Investigation on Friday said it didn’t properly respond after someone close to the shooter who killed at least 17 people at a Florida school contacted the agency. The FBI said it was contacted on its public access line on Jan. 5 by someone “close to Nikolas Cruz” who provided information “about Cruz’s gun ownership, desire to kill people, erratic behavior, and disturbing social media posts, as well as the potential of him conducting a school shooting.” However, the information was not provided to the Miami field office of the FBI, and no investigation was conducted at that time.

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Shares of U.S. Steel Corp. surged more than 12% and Alcoa Inc. stock rose nearly 3% on Friday after the U.S. Commerce Department recommended tariffs on steel and aluminum from other countries, including China and Brazil. U.S. Steel shares were recently up 10% to $43, on track for their their highest close since September 2014. The tariffs and quotas would vary from country to country, with the highest ones going to aluminum from China and Russia, among other countries, and the highest steel tariffs on imports from countries including Brazil, China and Russia. President Donald Trump earlier this week said he was considering the tariffs, and the administration last month imposed tariffs on solar panels and modules.

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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The S&P 500 is surging 0.6% in midday trade Friday, putting it on track to have its best week in more than six years, but has only retraced 57.1% of the previous selloff. The Dow Jones Industrial Average was up 161 points, or 0.6%, on track for a sixth-straight gain, and the best week since November 2016, but has retraced just 54.5% of its selloff. The S&P 500 fell 291.87 points, or 10.2%, from its Jan. 26 record close of 2,872.87 to the Feb. 8 low of 2,581.00, and has now bounced 166.55 points since. The Dow had tumbled 2,756.25 points, or 10.4%, from its Jan. 26 record through Feb. 8, and has bounced 1,500.79 points since. Technicians who use the Fibonacci ratio of 0.618%, also known as the “Golden Ratio,” believe that until a charted instrument retraces 61.8% of a previous move, it is still governed by that previous moves. Basically, despite the big bounces this week, the S&P 500 and the Dow would still be part of the previous downtrend until the S&P 500 closes above 2,761.38 and the Dow closes above 25,563.82. Meanwhile, with the Nasdaq Composite up 0.5%, and on track for its biggest weekly gain since December 2011, it has now retraced 70.66% of its Jan. 26-Feb. 8 selloff.

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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An exchange-traded fund tracking metal and mining companies rallied on Friday, after the Commerce Department recommended tariffs on major metal imports. The SPDR S&P Metals & Mining ETF jumped 3.1% and extended its advance throughout the trading day. Thus far this week, it is up 12%, which is set to be its biggest one-week percentage gain since March 2016. The U.S. Commerce Department has recommended a 24% tariff on steel imports from all countries, and a 7.7% tariff on aluminum imports, among other options. President Donald Trump is required to make decisions on the recommendations in April. Among specific stocks, United States Steel Corp. surged 11% while AK Steel Holding Corp. advanced 11.5%. Nucor Corp. was 4.8% higher on the day, while aluminum maker Alcoa Corp. was up 3.4%. The Dow Jones Industrial Average rose 0.7% while the S&P 500 was up 0.6% and the Nasdaq Composite Index added 0.5%.

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The U.S. Commerce Department has recommended a 24% tariff on steel imports from all countries, and a 7.7% tariff on aluminum imports, among other options. President Donald Trump is required to make decisions on the recommendations in April. The Commerce Department said the imports “threaten to impair the national security” of the U.S.

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Helios & Matheson Analytics Inc. said on Friday that it increased it’s stake in cinema-going subscription service MoviePass. Helios & Matheson said its total ownership of the outstanding shares of MoviePass’s common stock is now equal to 78% of the rapidly growing business. Shares of Helios & Matheson were down more than 7% after announcing the move, but shares are up more than 29% in the last 12 months. By comparison, the S&P 500 index is up 17% and the Dow Jones Industrial Average is up more than 22%.

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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