U.S. Stocks Close Modestly Higher After Choppy Session

RTTNews | 869 days ago

(RTTNews) - U.S. stocks saw a choppy ride on Wednesday but the Dow and the S&P 500 still managed to snap a three-day losing streak and close on a positive note.

The mood was cautious as investors looked ahead to Fed Chair Jerome Powell's speech at the central bank's economic symposium at Jackson Hole, Wyoming on Friday, for clues about the bank's outlook for the economy and interest rates.

The Dow ended with a gain of 59.64 points or 0.18 percent at 32,969.23. The S&P 500 settled at 4,140.77, gaining 12.04 points or 0.29 percent, while the Nasdaq advanced 50.23 points or 0.41 percent to 12,431.53.

Energy stocks surged higher, tracking firm crude oil prices.

Salesforce.com and Boeing both gained more than 2 percent. Walt Disney, American Express, Walmart, Nike, Goldman Sachs and Chevron posted modest gains.

Wallgreens Boots Alliance, Caterpillar, IBM, Cisco Systems and Merck ended notably lower.

Nordstrom shares plunged 19 percent after the company lowered its full-year outlook. The stock's fall triggered heavy selling at several counters in the retail sector.

Data from the Commerce Department showed new orders for U.S. manufactured durable goods came in unchanged in July, as against expectations for a 0.6 percent increase. Durable goods orders increased by an upwardly revised 2.2 percent in June.

Data from the National Association of Realtors showed pending home sales dropped by 19.89 percent in July, after falling by an upwardly revised 20.2 percent in June.

In overseas trading, Asian stocks fell for an eighth straight session on Wednesday, with Europe's energy woes and a drought-fueled power crisis in China keeping investors nervous.

Investors also braced for a hawkish message from the Federal Reserve at this week's Jackson Hole symposium.

The major European markets closed higher on Wednesday even as the mood remained cautious after comments from Minneapolis Fed President Neel Kashkari reiterated the U.S. central bank's commitment to bringing inflation under control through tighter monetary policy.

European Shares Set For Muted Start Before US Jobs Data

European stocks may drift lower at open on Friday as investors brace for the all-important U.S. jobs report later in the day.

RTTNews | 5h 12min ago

Sensex, Nifty Follow Global Peers Lower; IT Stocks Surge

Indian shares opened lower on Friday, mirroring weak cues from global markets amid Trump's tariff threats and expectations of fewer interest-rate cuts by the U.S. Federal Reserve in 2025.

RTTNews | 6h 26min ago

Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Friday, following the mixed cues from European markets and lack of cues from Wall Street overnight as they were closed, as traders are cautious ahead of the release of the closely watched US monthly jobs later in the day, which will potentially provide additional clarity about the strength of the labor market and the outlook for interest rate cuts.

RTTNews | 7h 29min ago

Australian Market Maintains Early Losses In Mid-market

The Australian stock market is maintain its early losses in mid-market trading on Friday, also adding to the losses in the previous session, following the mixed cues from European markets and lack of cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,300 level, with weakness in financial, energy and technology stocks partially offset by gains in mining stocks.

RTTNews | 8h 4min ago

Sensex, Nifty Seen Drifting Lower As TCS Misses Revenue Estimates

Indian shares look set to open lower on Friday, with IT stocks likely to be in focus after Tata Consultancy Services (TCS), the country's largest IT services firm, missed estimates on both revenue and profit fronts.

RTTNews | 8h 15min ago

Japanese Market Notably Lower

Extending the losses in the previous two sessions, the Japanese market is notably lower on Friday, following the mixed cues from European markets and lack of cues from Wall Street overnight as they were closed. The Nikkei 225 is falling well below the 39,300 level, with weakness across most sectors led by index heavyweights and financial stocks. Technology stocks are the only bright spot.

RTTNews | 8h 24min ago

Australian Market Notably Lower

The Australian stock market is notably lower on Friday, extending the losses in the previous session, following the mixed cues from European markets and lack of cues from Wall Street overnight as they were closed. The benchmark S&P/ASX 200 is falling below the 8,300 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 8h 47min ago

Higher Open Called For Thai Stock Market

The Thai stock market has moved lower in consecutive trading days, surrendering almost 30 points or 2.2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,360-point plateau although it nay see bargain hunting on Friday.

RTTNews | 8h 50min ago

EURUSD	1.02897	GBPUSD	1.22792	AUDUSD	0.6192
USDJPY	158.381	USDCAD	1.44155	USDCHF	0.91276