Rising energy prices have also raised concerns about the cost for consumers as they pay more to fill gas tanks and heat homes. Slower economic growth and rising inflation have raised more concerns on Wall Street about the effect of the central bank easing support for the economy and markets. “That combination, in total, is probably good for the staying power of the economy.”īoth the pace of economic growth and the state of the job market are on investors’ minds as they look ahead to the Federal Reserve’s meeting next week to see how it moves forward with plans to trim bond purchases and its position on interest rates. “There’s a cocktail of economic news coming out that is strong and positive, but in some cases lackluster,” Ball said. The number of Americans applying for unemployment benefits fell to a pandemic low last week, another sign that the job market and economy continue to recover from last year’s coronavirus recession. The Labor Department released a more upbeat report on the nation’s unemployment situation. That marks the weakest quarterly expansion since the recovery from the pandemic recession began last year. economy slowed sharply to a 2% annual growth rate in the July-to-September period, according to the Commerce Department. Hampered by rising COVID-19 cases and persistent supply shortages, the U.S. “Right now, the market is saying I think six months from now the economy will be good, but not great,” said George Ball, chairman of financial services firm Sanders Morris Harris.īesides earnings, investors got a mixed bag of economic updates Thursday.
The broader market has been gaining ground as the latest corporate report cards show that companies fared well in the most recent quarter, despite a surge in COVID-19 cases and inflation worries weighing on the economic recovery. Heavy equipment maker Caterpillar rose 4.1% after turning in strong results. Bank of America rose 1.6%.įord jumped 8.7% after reporting earnings that easily beat analysts’ forecasts and raising its full-year outlook. Banks, which rely on higher bond yields to charge more lucrative interest on loans, made solid gains. The yield on the 10-year Treasury rose to 1.57% from 1.53%. fell 3.6% in after-hours trading after its third-quarter earnings missed analysts’ forecasts.īond yields edged higher. You have the option to change the appearance of the charts by varying the time scale, chart type, zoom and adding your own studies and.
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Apple dropped 3.9% in after-hours trading after the company’s fiscal fourth-quarter revenue fell short of Wall Street’s estimates. Get instant access to a free live streaming chart for the S&P 500 Futures CFDs. KLA, which makes equipment for manufacturing semiconductors, rose 4.3% after beating Wall Street’s fiscal first-quarter profit forecasts. Technology stocks helped power a big slice of the S&P 500’s gains. The Russell 2000 index of small companies climbed 45.49 points, or 2%, to 2,297.98. The index is on pace for its fourth straight weekly gain. The information on this site is not directed at residents of the United States, Belgium or any particular country outside the UK and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.Rebranding as Meta, Facebook emphasizes VR future over crisis-beset presentįacebook’s new corporate name, Meta, is a nod to the ‘metaverse,’ a concept from science fiction that combines virtual, augmented and mixed reality. Both IG Markets Ltd (Register number 195355) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority. Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA.
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