Jueves, 15 Noviembre, 2018

Markets mixed as Fed finishes first day of meeting — US close

Markets mixed as Fed finishes first day of meeting — US close Markets mixed as Fed finishes first day of meeting — US close
Frascuelo Febo | Diciembre 15, 2017, 09:21

The attack which took place close to Port Authority, a major transport hub, which caused major disruption during rush hour. Energy stocks fell along with crude oil prices.

On the economic front, US factory gate prices advanced at a 3.1% clip year-on-year in November, against consensus expectations for 3.0%, with the details of the report leading economists at Barclays and Pantheon Macroeconomics to conclude that inflationary pressures were in the pipeline.

The Nasdaq Composite Index increased 35.00 points, or 0.51 per cent, to 6,875.08. The Nasdaq fell 12.76 points, or 0.2%, to 6,862.32.

The financial sector.SPSY was the biggest driver with a 1-percent gain, followed by the healthcare sector.SPXHC, up 0.4 percent.

Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., December 1, 2017.

THE QUOTE: "Everybody's waiting to see what the Fed says tomorrow", said Brian Nick, chief investment strategist at Nuveen Asset Management. The index closed at all-time highs on Monday and Tuesday. "So this is seen as a not just sort of a one-off hike like we've had in the past, but a continuation of a quarterly cadence of rate hikes".

Investors also assessed Democrat Doug Jones' victory in a bitter fight for a U.S. Senate seat in deeply conservative Alabama on Tuesday.

The Fed is currently forecast to raise rates three times next year.

The prospect of another short-term interest rate hike helped lift bank shares. Goldman Sachs Group rose $7.95, or 3.2 percent, to $258.08.

MALL MOVERS: Several shopping mall owners were trading higher after Australian company Westfield agreed to be bought by France's Unibail-Rodamco for $15.7 billion. Macerich climbed 5% to $66.47. Western Digital rose $1.86, or 2.3 percent, to $83.63. GGP picked up 43 cents, or 1.9 percent, to $23.83.

Wells Fargo rose 2.5 percent.

DISAPPOINTING RESULTS: Casey's General Stores declined 10.2 percent after its second-quarter profit fell short of analysts' estimates.

The data, which came a day ahead of U.S. Federal Reserve's widely-expected hike in interest rates could assuage concerns among some Fed officials over persistently low inflation. Micron Technology fell 2.7% to $41.86.

"I think investors will be looking for guidance about 2018 given the leadership changes", said Eric Stein, co-director of global income at Eaton Vance. Brent crude, the international standard for oil, sank $1.35, or 2.1%, to $63.34 a barrel in London. The company's drop led a slide in utilities stocks. The euro fell to $1.1764 from $1.1770. Banks struggled as long-term bond yields edged lower, which makes it tougher for banks to earn money from lending.

BITCOIN: Bitcoin futures were down $195, or 1.1 percent, to $18,350 on the Cboe Futures Exchange. The futures enabled investors to make bets on the future price of the virtual currency.

Republican leadership in the House and Senate forged an agreement Wednesday on the GOP's planned overhaul of the nation's tax laws.

MARKETS OVERSEAS: Major stock indexes in Europe rose. The Hang Seng index in Hong Kong shed 0.6 percent. India's Sensex dropped 0.7%.

This article was originally published at 10:20 a.m.