The indices all advanced as the Federal Reserve released its minutes from its May meeting, which signalled a rate hike could be in the offing. The Dow hit 21,000 in early afternoon but dropped back to 20,994 a gain of 0.27% at close. NASDAQ rose 24.31 points to 6,163.02 and S&P 500 had a record day gaining +0.25%.
At close the FTSE clocked up 29.61 points to close at 7,514.90 as investor enthusiasm continued unabated. Among the biggest risers was Marks & Spencer, recovered from earlier trading to close 1.47% to 393.40p despite revealing full year results today that saw annual profits nosedive 63%. easyJet rose 3.31% to 1,344p and integrated tourism group, TUI AG rose 2.59% to 1,170.55p.
US indices notched further gains at close today after President Trump unveils his budget wish list for FY18. However, the horrific bombing in Manchester gave the market pause. The Dow closed +0.21% to 20,937.91.
US stocks opened strongly on news of mega deals from President Trump’s tour to Saudi Arabia after falling off a cliff last week. Technology and defence were the locomotives of Nasdaq and S&P 500 pulling the indices to gains of 0.82% (6,133.62) and 0.52% (2394.02) respectively. The Dow Jones closed +0.43% to 20,894.83.
The Street reacted negatively to the latest crisis enfolding the White House and recorded the biggest one-day loss for the year. All three major indices slid sharply as hopes for the business-friendly regulatory and tax agenda recedes with the latest debacle engulfing the White House.
Amongst the top gainers on the Index were IBM (153.68 +1.43%) and Microsoft (69.41 +1.43). The big board continued to trade in its narrow range and dipped slightly with the S&P 500 fell -0.07% to 2400.67 and Dow Jones Index fell to -0.01% to 20,979.95. Nasdaq remains up and closes 6169.87.
Slight pessimism creeps into US markets despite week of upbeat corporate earnings and raft of economic data indicating strong economy. Slight pessimism creeps into US markets despite week of upbeat corporate earnings and raft of economic data indicating strong economy.
The indices remained steady but the broader market weakly so sliding in reaction to rising geopolitical tensions between the US and North Korea and a slump in oil prices.
At close the Dow Jones Industrial Average registered less than 0.1% change rising 5.3 points to 21012. The biggest movers of the day were Apple up 2.72% to 153.0 and Exxon Mobile rose from 82.02 to 82.89.
Phone and computer maker Apple, the world’s biggest company, posted lacklustre results for its second quarter as the sale of iPhones dipped.
Bull and bear markets can reflect the optimism and pessimism of the economy but markets can also run counter to the economic data and sentiment. They can rise – be bullish – when pessimism dictates they should fall and fall – be bearish – when optimism says they should rise.