Stock Market Overview
The S&P 500 Index ($SPX) on Wednesday closed up +0.83%, the Dow Jones Industrials Index ($DOWI) closed up +1.20%, and the Nasdaq 100 Index ($IUXX) closed up +0.84%.
U.S. stock indexes on Wednesday moved higher with the S&P 500 and Dow Jones Industrials at 1-1/2 week highs and the Nasdaq 100 at a 2-week high. Stocks opened higher Wednesday on better-than-expected U.S. economic data and extended their gains on hopes that lawmakers can finally agree on a Covid stimulus package.
Wednesday's U.S. economic data was bullish for stocks. U.S. Q2 GDP was unexpectedly revised upward by +0.3 to -31.4% (q/q annualized), stronger than expectations of unrevised at -31.7% (q/q annualized). Also, Sep ADP employment rose +749,000, stronger than expectations of +649,000. In addition, the Sep Chicago PMI rose +11.2 to 62.4, stronger than expectations of +0.8 to 52.0, and the fastest pace of expansion in 1-3/4 years. Finally, Aug pending home sales jumped +20.5% y/y, stronger than expectat... Read more
TOKYO (AP) — Trading on the Tokyo Stock Exchange was suspended Thursday because of a problem in the system for relaying market information. Most other Asian markets were closed for national holidays.
WASHINGTON — Federal health officials are extending the U.S. ban on cruise ships through the end of October amid reports of recent outbreaks of the new coronavirus on ships overseas.
The United States will block shipments of palm oil from a major Malaysian producer that feeds into the supply chains of iconic U.S. food and cosmetic brands. It found indicators of forced labor, including concerns about child workers, along with other abuses such as physical and sexual violence.
In the space of a few minutes, on a prerecorded video filmed thousands of miles from where it was shown, the tech-savvy president of El Salvador captured the two strikingly different sides of this year’s unprecedented — and virtual — “gathering” of world leaders “at” the U.N. General Assembly in 2020.
TOKYO (AP) — Japanese manufacturers’ sentiments improved for the first time in three years, a quarterly Bank of Japan survey showed Thursday, as the nation grappled with stagnation worsened by the coronavirus pandemic.
SAN FRANCISCO (AP) — A Russian man convicted of hacking LinkedIn, Dropbox and Formspring and stealing the personal information of more than 100 million customers was sentenced Wednesday to more than seven years in federal prison.