Tag: stock market

U.S. stocks reversed early losses, finishing in positive territory Tuesday after Federal Reserve Chairwoman Janet Yellen emphasized that policy makers would take a cautious approach to raising interest rates. The S&P 500 gained 17.99 points, or 0.9%, to 2,055.03. The Dow industrials gained 98.27 points, or 0.6%, to 17,633.66, with Apple Inc. and Microsoft Corp. leading the blue-chip gauge higher. Both the S&P and Dow logged their highest closes of the year. The Nasdaq gained 79.84 points, or 1.7%, to 4,846.62 — bolstered by strong gains among tech stocks.

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Exchange operator BATS Global Markets said Tuesday it would buy ETF.com, a provider of data about the market for exchange-traded funds. BATS CEO Chris Concannon said the purchase “underscores [BATS’s] commitment to the ETF industry and our focus on providing unique, value-added content for issuers, brokers, financial advisors, market professionals and investors.” ETF.com’s data will add to BATS’s existing proprietary market data and analytics offerings, according to a news release. BATS operates four stock exchanges in the U.S., which represent the largest venue for trading ETFs in the country when taken together, says BATS.Financial terms were not disclosed. The deal is set to close on April 1, according to the statement. The acquisition comes as Lenexa, Kansas-based BATS is trying to grow its ETFs listing platform. The exchange operator last year launched BATS Marketplace, offering to pay ETF providers as much as $400,000 to list on its exchange.

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Oil futures fell for a fifth straight session Tuesday to settle at their lowest level in two weeks, ahead of weekly U.S. data that are expected to show a climb in crude inventories. Prices however, managed to finish above the session’s lows as comments from Federal Reserve Chairwoman Janet Yellen weakened the dollar , offering some support for dollar-denominated oil. May WTI crude settled at $38.28 a barrel on the New York Mercantile Exchange, down $1.11, or 2.8%.

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Gold futures snapped a three-day losing streak to close higher Tuesday after Federal Reserve Chairwoman Janet Yellen quelled speculation of an early interest rate hike with an emphasis on the need for caution in pushing ahead with tighter monetary policy. June gold rose $15.50, or 1.3%, to settle at $1,237.50 an ounce. Yellen, in prepared remarks at The Economic Club of New York, said “only gradual increases in the federal funds rate are likely to be warranted in coming years” due to economic uncertainties.

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Short-term Treasury yields tumbled Tuesday to their lowest level in a month after Federal Reserve Chairwoman Janet Yellen defended the U.S. central bank’s decision to move cautiously on interest-rate hikes given the risky outlook. Treasury yields fell across the board, with prices rising. Yellen remained silent about any prospect of a rate hike at the next meeting on April 26-27 and underscored the risks of stagnant inflation. The market took a dovish interpretation of Yellen’s comments, with Treasury yields tumbling and stocks gaining ground. The 10-year Treasury yield, the Treasury market’s benchmark, briefly hit a one-month low, later paring the decline. It was down 4.4 basis points on the day to 1.840%. The yield on the 2-year Treasury lost 6.7 basis points to 0.820%, its lowest level in a month. The 30-year Treasury yield lost 2.2 basis points to 2.635%, its lowest level in a month.

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From:: Stock Market News

U.S. stocks turned higher and climbed modestly on Tuesday, as Federal Reserve Chairwoman Janet Yellen stressed a cautious approach to interest-rate hikes during her speech at the Economic Club of New York. The S&P 500 was up 11 points, or 0.5%, higher at 2,048. The Dow Jones Industrial Average climbed 85 points, or 0.5%, to 17,620. Meanwhile, the Nasdaq Composite advanced 48 points, or 1%, to 4,815.

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From:: Stock Market News

Gold prices jumped Tuesday after Federal Reserve Chairwoman Janet Yellen stressed that the central bank will take a cautious approach to future rate hikes given the uncertain economic outlook. In a speech at The Economic Club of New York, Yellen also revealed that the Fed will rely on bond purchases if the economy stumbles, which the markets interpreted as dovish. June gold rose $15.40, or 1.2%, to $1,237.40 an ounce versus the $1,228.20 it was trading at before Yellen’s comments. Gold had been in positive territory all session after the Case-Shiller report indicated that consumer prices are firmer. Gold is often used as an inflation hedge.

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Oil futures pared some of their losses on Tuesday after U.S. Federal Reserve Chairwoman Janet Yellen said caution on interest-rate hikes is justified. The U.S. dollar weakened in the wake of her comments, offering some support for dollar-denominated oil prices. May WTI crude traded at $38.41 a barrel on the New York Mercantile Exchange, down 98 cents, or 2.5%. It was trading around $38.19 before Yellen’s speech.

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The dollar weakened against its main rivals Thursday after Federal Reserve Chairwoman Janet Yellen reiterated that global developments have increased the risks for the U.S. economy. Yellen said caution about the pace of raising interest rates was justified — a message that investors interpreted as dovish. The dollar sold off, with the euro climbing to $1.1252 after the remarks, from around $1.1205 shortly before. The dollar fell to 113.07 yen, from 113.30 yen shortly before. The pound rose to $1.4357, from $1.4287 shortly before.

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From:: Stock Market News

The dollar weakened against its main rivals Thursday after Federal Reserve Chairwoman Janet Yellen reiterated that global developments have increased the risks for the U.S. economy. Yellen said caution about the pace of raising interest rates was justified — a message that investors interpreted as dovish. The dollar sold off, with the euro climbing to $1.1252 after the remarks, from around $1.1205 shortly before. The dollar fell to 113.07 yen, from 113.30 yen shortly before. The pound rose to $1.4357, from $1.4287 shortly before.

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