Author: iHub News
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Stocks Close On Firm Note; Dow, S&P Hit Fresh Closing Highs
U.S. stocks closed on a firm note on Monday with two of the three major indices moving on to record fresh highs, thanks to strong buying at several counters from across various sectors. Optimism about interest rate cuts by the Fed, and rising prospects of former President Donald Trump winning the upcoming presidential elections rendered…
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Regional Manufacturing Activity Contracted Faster, Firms Remain Optimistic
A report released by the Federal Reserve Bank of New York on Monday showed regional manufacturing activity contracted at a slightly faster rate in the month of July. The New York Fed said its general business conditions index edged down to a negative 6.6 in July from a negative 6.0 in June, with a negative…
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Futures Pointing To Initial Strength On Wall Street
The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to add to the gains posted last week. Following the substantial downturn seen over the course of Thursday’s session, stocks moved back to the upside during trading on Friday. With the upward move on the day, the Dow…
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U.S. Stocks Move Back To The Upside Following Yesterday’s Downturn
Following the substantial downturn seen over the course of the previous session, stocks moved back to the upside during trading on Friday. With the upward move on the day, the Dow and the S&P 500 reached new record intraday highs. The major averages gave back ground going into the close but remained firmly positive. The…
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Producer Prices Increased Slightly More Than Expected
Following yesterday’s tamer-than-expected consumer price inflation data, the Labor Department released a report on Friday showing producer prices in the U.S. increased by slightly more than expected in the month of June. The Labor Department said its producer price index for final demand rose by 0.2 percent in June following a revised unchanged reading in…
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Futures Pointing To Roughly Flat Open On Wall Street
The major U.S. index futures are currently pointing to a roughly flat higher open on Friday, with stocks likely to show a lack of direction following the substantial downturn seen over the course of the previous session. Traders may take a step back following the recent volatility in the markets, which saw stocks surge on…
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Nasdaq, S&P 500 Pull Back Sharply After Reaching New Record Highs On Inflation Data
Stocks showed a substantial downturn over the course of the trading session on Thursday, with the Nasdaq and the S&P 500 pulling back sharply after reaching new record intraday highs in early trading. The tech-heavy Nasdaq posted a particularly steep loss on the day, plunging 364.04 points or 2.0 percent to 18,283.41, while the S&P…
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Tamer-Than-Expected Inflation Data May Lead To Extended Rally On Wall Street
The major U.S. index futures are currently pointing to a higher open on Thursday, with stocks likely to see further upside following the rally seen over the course of the previous session. The futures turned positive following the release of a highly anticipated Labor Department report showing consumer prices in the U.S. unexpectedly edged slightly…
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U.S. Stocks Rally Ahead Of Close Watched Inflation Data
Following the lackluster performance seen in the previous session, stocks moved sharply higher over the course of the trading day on Wednesday. With the strong upward move, the S&P 500 closed above 5,600 for the first time ever. The major averages saw further upside going into the close, ending the day near their highs of…
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Wholesale Inventories, Oil Inventories Reports Due
Federal Reserve Chair Jerome Powell is scheduled to deliver his semi-annual monetary policy testimony before the House Financial Services Committee at 10 am ET. Also at 10 am ET, the Commerce Department is due to release its report on wholesale inventories in the month of May. Wholesale inventories are expected to increase by 0.6 percent.…