Stock Market Overview
Thu, Sep 16th, 2021
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Stock Undercut as Strong U.S. Retail Sales Report is Hawkish for Fed
Barchart - Thu Sep 16, 3:54PM CDT
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Thursday closed down -0.15%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.08%.
U.S stock indexes on Thursday settled mostly lower. Better-than-expected U.S. economic data on Thursday sparked concern the Fed may be closer to tapering QE, which weighed on stocks.  Weakness in mining stocks on Thursday also weighed on the overall market as metals prices plunged. Strength in retailer stocks Thursday limited losses in the overall market.
Wednesday’s U.S. economic data was mostly bullish for stocks, although the stronger data may allow the Fed to taper QE sooner rather than later. U.S. Aug retail sales unexpectedly rose +0.7% m/m, stronger than expectations of -0.7% m/m. Also, Aug retail sales ex-autos rose +1.8% m/m, stronger than expectations of unchanged and the biggest increase in 5 months. In addition, the Sep Philadelphia Fed busin... Read more
Stock Undercut as Strong U.S. Retail Sales Report is Hawkish for Fed
What you need to know… The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -0.15%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.18%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.08%. U.S stock indexes on Thursday settled mostly lower....
Barchart - Thu Sep 16, 3:54PM CDT
Ford adding 450 jobs to meet demand for new electric truck
DEARBORN, Mich. (AP) — Ford Motor Co. plans to spend $250 million and add 450 jobs at three Michigan plants to meet demand for the new F-150 Lightning.
AP - Thu Sep 16, 3:26PM CDT
Covered California director to step down in February
SACRAMENTO, Calif. (AP) — The director of Covered California said Thursday he will step down early next year, prompting a national search for a new leader of the nation's largest state-based health insurance marketplace.
AP - Thu Sep 16, 3:02PM CDT
Fed reviews ethics policies after prolific trading uncovered
WASHINGTON (AP) — The Federal Reserve is reviewing the ethics policies that govern the financial holdings and activities of its senior officials in the wake of recent disclosures that two regional Fed presidents engaged in extensive trading last year.
AP - Thu Sep 16, 2:29PM CDT
Mortgage rates dip lower this week; 30-year loan at 2.86%
WASHINGTON (AP) — Average long-term mortgage rates dipped lower this week as economic prospects continued muted amid a wave of new delta variant coronavirus cases. They remained under 3%.
AP - Thu Sep 16, 1:08PM CDT
Softening Inflation: Gold Jumps Again
Inflation softened further in August, and gold reacted positively. Look closely at what the Fed’s doing, as that’s where the clues for the future are.
Sunshine Profits - Thu Sep 16, 1:00PM CDT
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