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Wall Street ends down slightly; S&P ekes out Q1 gain

Wall Street ends down slightly; S&P ekes out Q1 gain

Wall Street ended down slightly on Thursday but the Dow and S&P 500 posted gains for the quarter after a month-long rally that rescued stocks from their worst start to a year since 2009. Based on the latest available data, the Dow Jones industrial average was down 31.16 points, or 0.18 per cent, to 17,685.5, the S&P 500 lost 4.22 points, or 0.2 per cent, to 2,059.73 and the Nasdaq Composite added 0.55 points, or 0.01 per cent, to...
Wall Street lower as investors assess outcome of Fed meet

Wall Street lower as investors assess outcome of Fed meet

Wall Street was lower on Thursday, a day after the Federal Reserve’s lowered projection of two interest rate hikes in 2016 pushed the S&P 500 to its highest close this year. The Fed, which left rates unchanged, pointed to moderate U.S. economic growth and strong job gains but cautioned about risks from an uncertain global economy. The central bank had laid out four hikes in 2016 when it raised rates in December. While markets across assets cheered the move, the central bank’s dovish tone raised some concern about the prospects of the weakness in the global economy impacting the U.S. economy. “There’s this little bit of rethinking and so, we’re looking at a softer opening as some questions arise to the prospects of future growth impacting earnings,” said Peter Cardillo, chief market economist at First Standard Financial in New...
Wall Street ends flat as Federal Reserve meeting looms

Wall Street ends flat as Federal Reserve meeting looms

Wall Street closed little changed in light trading on Monday as consumer discretionary gains countered losses in energy shares and investors laid low ahead of a US Federal Reserve meeting. The Fed is not expected to raise interest rates at the two-day meeting, which begins on Tuesday, but investors will be on the lookout for clues about future hikes. Global oil prices fell as much as 4 per cent on concerns a six-week market recovery has gone beyond fundamentals.The S&P 500 is now down about 1 per cent in 2016, after having been down as much as 10.5 per cent in mid-February. As they also wait on the release of economic data, including US retail sales, investors were further digesting moves by the European Central Bank and other global economic news last...
Wall Street Tracks Oil Prices Again, Ends higher

Wall Street Tracks Oil Prices Again, Ends higher

Wall Street : US stocks rose in low volume on Wednesday, led once more by the direction of the price of oil and energy shares. The Dow Jones industrial average rose 34.48 points, or 0.2 per cent, to 16,998.58, the S&P 500 gained 9.85 points, or 0.5 per cent, to 1,989.11 and the Nasdaq Composite added 25.55 points, or 0.55 per cent, to 4,674.38. US crude last traded up 4.9 per cent on the...
Wall Street ends lower in feeble end to strong week

Wall Street ends lower in feeble end to strong week

Wall Street ended lower on Friday in a feeble end to another week of strong gains after concerns about the timing of future interest rate hikes offset gains in materials and energy stocks. The S&P utility sector led declines, down 2.73 percent. The materials index was the biggest winner and was up for the third straight day with a 1.35 percent rise. In a break from a trend seen for much of this year, energy shares clung to gains even after a rally in crude oil prices faded, with ConocoPhillips up 3.21 percent. The Commerce Department said gross domestic product expanded at a 1-percent annual rate in the fourth quarter, an upward revision from its previous estimate of 0.7 percent growth. The data exacerbated concerns that the US Federal Reserve could raise rates sooner rather than later. The economy grew at a rate of 2 percent in the third quarter. Federal funds futures implied traders see a 36-percent chance of the Fed raising rates in June and 53-percent chance in December, both above Thursday’s levels, according to CME Group’s FedWatch program. For the week, the Dow gained 1.5 percent, the S&P rose 1.6 percent and the Nasdaq added 1.9 percent. The S&P 500 is now down about 5 percent for 2016. Shares of J.C. Penney jumped 14.71 percent after the department store operator reported better-than-expected revenue. Baidu rose 9.87 percent after the Chinese internet search firm posted quarterly results that impressed Wall Street. Advancing issues outnumbered decliners on the NYSE by 1,894 to 1,168. On the Nasdaq, 1,780 issues rose and 973 fell. The S&P 500 index showed 21 new...
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