Stock Market Overview
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 ($IUXX) (QQQ) closed up +0.08%.
U.S stock indexes on Thursday settled mostly lower. Better-than-expected U.S. economic data on Thursday sparked concern the Fed may be closer to tapering QE, which weighed on stocks. Weakness in mining stocks on Thursday also weighed on the overall market as metals prices plunged. Strength in retailer stocks Thursday limited losses in the overall market.
Wednesday’s U.S. economic data was mostly bullish for stocks, although the stronger data may allow the Fed to taper QE sooner rather than later. U.S. Aug retail sales unexpectedly rose +0.7% m/m, stronger than expectations of -0.7% m/m. Also, Aug retail sales ex-autos rose +1.8% m/m, stronger than expectations of unchanged and the biggest increase in 5 months. In addition, the Sep Philadelphia Fed busin... Read more
What you need to know… The S&P 500 Index ($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....
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.
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.
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.
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%.
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.