Stocks Open Slightly Higher as Wall Street Attempts to Shake off Turkish Currency-Crisis Worries

U.S. stock-index benchmarks edged higher early Monday, but continuing turmoil in Turkey remained in focus.

The Dow Jones Industrial Average traded up 43 points to reach 25,352,a gain of 0.2%, the S&P 500 index rose 5 points to 2,838, a rise of 0.2%. Meanwhile, the Nasdaq Composite Index added 0.2% to reach 7,861. U.S. investors have kept their attention trained on developments in Turkey.

The Turkish central bank pledged to provide “all the liquidity the banks need” in a statement Monday, coming after Turkey’s lira lost 14% of its value against the dollar on Friday, raising concerns that the emerging market could infect European financial institutions and other developed-world markets. However, market participants in the U.S. appear poised to shake off those worries to focus on what has been a healthy stretch of corporate quarterly results and a domestic economy that has offered signs of strength.

Source : Marketwatch

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Sumber : bpfnews.com

The Dow Edges Slightly Higher, Attempts Longest Win Streak in About 2 Months

The Dow Jones Industrial Average inched higher early Wednesday and the broader market saw subdued action at the open, as investors awaited fresh impetus to push equities in either direction.

Wall Street was set to hear a second day of testimony, at 10 a.m. Eastern Time, from Federal Reserve Chairman Jerome Powell. This time in front of the House Financial Services Committee, a day after after he expressed optimism about the economy in front of the Senate and hinted at further rate increases in 2018, “for now.” An anecdotal survey of business conditions in the Fed’s districts, known as the Beige Book, to be released at 2 p.m. also was in focus.

The Dow rose 11 points, or less than 0.1%, at 24,133, on pace for its longest win streak since May 14, the S&P 500 index traded flat at 2,810, while the Nasdaq Composite Index edged slightly higher at 7,858. Shares in Morgan Stanley were also watched by market participants after the bank reported second-quarter earnings rose 39% from last year, beating analyst expectations. The announcement caps off second-quarter earnings from the six largest banks, which underscored strength in the economy. That said, a reading of housing starts came in weaker than expected. Housing starts in June dropped by 12.3% from lowered numbers in May and were 3% lower than year-ago levels.

Source : Marketwatch

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Sumber : bpfnews.com

U.S. Stock Market Attempts to Climb Ahead of Expected Fed Rate Hike

U.S. stock-market indexes were tentatively higher on Wednesday as investors awaited a decision from the Federal Reserve, which is widely expected to increase rates by a quarter of a percentage point and offer details on path forward for monetary policy.

The S&P 500 rose 4 points, or 0.2%, to 2,791, with six of the 11 main sectors trading lower. Telecoms shares were among the worst hit, with the sector down more than 3% after Tuesday’s court ruling that AT&T can go ahead with its nearly $ 85 billion acquisition of Time Warner.

The Nasdaq Composite added 42 points, or 0.5%, to 7,746 and set an intraday record at 7,747.16.

The Dow Jones Industrial Average edged 22 points, or 0.1%, to 25,340.

Source : Market Watch

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Sumber : bpfnews.com

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