Stock Market Overview
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is up +1.59%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.99%.
A rally in technology stocks is leading on the overall market today, with the Nasdaq 100 index up nearly +2%. Microsoft and Texas Instruments are up more than +4% after both companies delivered upbeat earnings outlooks. Stocks are also moving higher today after Goldman Sachs said, “any further weakness at the index level should be seen as a buying opportunity.”
The markets are awaiting the results of today’s FOMC meeting to see how hawkish the Fed sounds in its fight to slow inflation. The markets expect the FOMC today to signal that it will begin raising interest rates as soon as the March policy meeting. The markets are also expecting the FOMC to indicate that it will reduce its balance sheet as soon as July.
The Euro Stoxx 50 index is up sharply today by +2.47%... Read more
Stocks gained ground in afternoon trading on Wall Street Wednesday as investors review a mostly solid round of earnings reports and await the Federal Reserve's latest policy statement.
The Bill and Melinda Gates Foundation announced Wednesday it will add four members to its board of trustees, a first for the Seattle-based philanthropic giant whose decision making has been guided by very...
WASHINGTON (AP) — The Federal Reserve will signal Wednesday when and how fast it to help tame inflation that is squeezing family budgets.
TORONTO (AP) — Canada’s central bank declined to raise its benchmark interest rate on Wednesday but said interest rates will have to rise in the future as the economy rebounds.
SILVER SPRING, Md. (AP) — Sales of new single family homes in December rose to their highest level in 10 months as buyers snapped up cheaper homes in anticipation of higher interest rates.
Glass half full call on S&P 500 yesterday was vindicated – this yet another reversal has the power to go on, and credit markets appear sniffing out the upcoming reprieve. While rates have justifiably...