Markets Right Now: Tech leads stocks to 5th straight gain

16 February, 2018, 06:59 | Author: Sheri Evans
  • Jerome Powell

WALL STREET: Major U.S. benchmarks rose for the fourth straight day.

The market started slightly lower Wednesday but turned higher within the first hour of trading and kept going.

The CBOE Volatility index, also known as Wall Street's "fear gauge", rose to 19.57 points, but was well below the 50 point-mark it touched last week.

ANALYST TAKEAWAY: "Having just gone through the roller coaster of equity sell-off induced by bond yield rises, I am frankly at a loss to explain what is now happening now", said Rob Carnell, chief Asia economist at ING.

Apple and Cisco were among the big winners in tech, while industrial companies including Boeing also rose. The S&P 500 energy index was down almost 2 percent.

Department store sales rose a solid 0.8 percent while a broader category that includes big box retail stores such as Walmart, rose a smaller 0.2 percent.

Teva, Apple shares rip higher after Warren Buffett's Berkshire discloses investments
Well, IBM rallied a bit during the fourth quarter of 2017, and apparently that was enough to send Berkshire heading for the exits. Last month, Berkshire said it would work with Amazon .com and JPMorgan Chase & Co to create their own healthcare company.

The Nasdaq composite advanced 107.47 points, or 1.6 percent, to 6,981.96. "The year-over-year rate on the core is still below 2 percent". "This makes sense because interest rates may not drive equities but both can rise concurrently from the environment that lifts them". The index rose 1.5 percent Friday but still wound up with its worst weekly loss in more than two years.

Bond yields rose after the government said consumer prices climbed in January at a rate that was faster than economists had expected. That was a significant improvement from modest annual growth rates of around 2 percent the USA experienced during the economic recovery, now in its ninth year.

By 11:03 a.m. ET, the Dow Jones Industrial Average rose 0.1 percent to 24,664.07.

The January decline, following no change in December, was the largest setback since a 0.5 percent fall in February of a year ago, the Commerce Department reported Wednesday. The number has increased to four or five but as long as the real economy looks strong, the stock market is likely to cope with a bit more inflation.

The yield on the 10-year Treasury note rose to 2.87 percent, up from 2.82 percent shortly before the report came out.

Wall Street's recent pullback wiped out all of January's gains for the benchmark S&P 500, which is now down about 0.5 percent for the year.

Facebook is now officially for old people, new data reveals
The research firm believes Instagram's U.S. user base will grow by 13 percent this year, to nearly 105 million people. Internet users ages 12 to 17 will use Facebook this year for the first time, the research firm says.

Hong Kong's Hang Seng lost 0.2 percent and Seoul's Kospi rose 0.9 percent.

USA equities opened lower on Wednesday following the release of stronger-than-expected inflation report. The major index futures are now pointing to a higher open for the markets, with the Dow futures up by 206 points. And the chart above of the S&P 500 index graphically shows that hot economy and corporate sector. France's CAC 40 was up 0.2 percent to 5,120, while Germany's DAX shed 0.3 percent to 12,152.

Traders largely shrugged off a report from the Commerce Department showing wholesale inventories increased by more than expected in the month of December.

Stocks climbed on Thursday after Wall Street ignored strong U.S. inflation data. The data rekindled fears that the Federal Reserve would feel compelled to act aggressively to tamp down rising prices by hiking rates at a rapid clip in 2018.

USA stock futures sank after the government reported the highest increase in consumer prices in a year and a significant decline in retail sales for January.

The Dow Jones industrials were indicated to open with a drop of about 320 points.

Ex-beauty queen with rare condition wakes up with British accent
After about a week it seemed to correct itself on its own, but months later another headache brought about an Australian accent. This alters the way the person speaks (the rhythm and tone, for example), causing their speech to sound like a foreign accent.

Recommended:



Popular

Inconsistent Tiger Woods opens with 72 at Riviera
It first was played at Riviera in 1929. "I think the architecture out here is definitely one of the best we play all year. And then there's Dustin Johnson , the top-ranked player in the world and the defending Genesis Open champion.

Bill and Melinda Gates take on the "tough questions" about their foundation
Bill said that the couple recently spent time in the American South, and were affected by what they saw. Gates was the richest man in the world for 17 years.

Global smartphone sales growth will slow down in 2018 — TrendForce
Launched in September previous year with Android 7.1.1 Nougat, the Nokia 8 received an update to Android 8.0 in November. Still, Nokia 8 users should be pleased the company is keeping its promise of providing timely Android updates.

Israeli police recommend indicting Benjamin Netanyahu over corruption claims
Opposition politicians, meanwhile, called for Netanyahu to resign and urged his coalition allies to abandon his government. Milchan reportedly gave the Netanyahu family gifts worth NIS 750,000 between 2006 and 2017.

Google shipped 3.9 million Pixel phones a year ago , IDC says
As hinted above, Google could have more success in attracting consumers by expanding the availability of the Pixel line. Latest data from market tracker IDC reveals that the company shipped 3.9 million units of Pixel smartphones in 2017.

Your days of Instagram creeping may soon be over
It's a little less obvious than Snapchat's notification, but it still has users divided over the usefulness of the feature. Not everyone has reacted to this new test feature just yet; but it looks like it will be business as usual for Instagram.

Real using charm offensive to distract Neymar from UCL tie -- for now
Simply, we need to be able to play our game, try to maintain control when we are not on the ball and stay focused. He bagged a flawless hat-trick for Real in his last outing and has struck seven times in his last four matches.

Russian Federation still targeting USA political system, spies say
The leaders from six top US intelligence agencies all testified that China , Russia and North Korea pose grave threats to the U.S. Coats was joined by the heads of the CIA, FBI, Defense Intelligence Agency, and the National Security Agency.

EFF calls on opposition, ANC to support motion against 'self-obsessed' Zuma
President of the ANC, Cyril Ramaphosa at a stage left the meeting at St.Georges Hotel, outside of Pretoria to discuss with Zuma. Meanwhile, the African National Congress (ANC) party has given Zuma until the end of the day to resign.

Google launches its own Snapchat-like 'stories'
Google launched the Gmail Developer Preview of AMP for Email, enabling new levels of interaction and collaboration within emails. AMP Stories are now only viewable on smartphones, but Google wants to expand them to desktops and laptops in the near future.