Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18502.99		107.59	0.58%
S& P 500	S& P 500 Index	2180.38		11.34	0.52%
NASDAQ	NASDAQ	5232.33		13.41	0.26%

 

Dow closes up triple digits as financials rise 1 pct

Stocks closed higher on Monday, with financials and materials leading, as investors digested economic data while looking for clues about the Federal Reserve' s next move.

" I think the market is suggesting that the Fed is not going to be able to raise rates," said Jeffrey Saut, chief investment strategist at Raymond James. " I think the real story is, even if they do raise rates, it will be because the economy is getting better. "

" I think the market is reassessing the Fed, said Quincy Krosby, market strategist at Prudential Financial." The market sold off on Friday on the back of the idea that Stanley Fischer trumped Janet Yellen, ... but when you look at Fed funds futures, the market is still expecting one rate hike, perhaps in December. "

There are no more economic data due Monday, but investors are already looking ahead to the August jobs report, due Friday, as the odds of a rate hike next month have recently increased.

Market expectations for a Fed rate hike in September were at 24 percent Monday, after ending near 30 percent Friday, according to the CME Group' s FedWatch tool.

Oil markets fell Monday, weighed in part by a rising dollar, as US crude settled more than 1.39 percent lower at $ 46.98 a barrel. The dollar traded flat against a basket of currencies, after rising slighlty, with the euro near $ 1.118 and the yen around 101.95.

Overseas, European markets closed mostly lower in thin trading, as U.K. markets were closed for a holiday. In Asia, the Nikkei 225 surged more 2.3 percent, while the Shanghai composite closed flat.

Gold futures for December delivery settled $ 1.20 higher at $ 1,327.10 per ounce.

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Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18395.40		-53.01	-0.29%
S& P 500	S& P 500 Index	2169.04		-3.43	-0.16%
NASDAQ	NASDAQ	5218.92		6.71	0.13%

 

Stocks close mixed after Fed commentary Nasdaq snaps 8-week win streak

U.S. stocks closed mixed on Friday, with utilities lagging, as investors digested remarks made by Federal Reserve Chair Janet Yellen and Vice Chairman Stanley Fischer.

" I do not think she said anything we did not already know, but people were trying to make something bullish out of it," said JJ Kinahan, chief strategist at TD Ameritrade. " Then Fischer said two rate hikes were possible" and stocks went lower.

The Dow Jones industrial average closed about 50 points lower after briefly falling more than 100 points. Earlier, Fischer told CNBC next week' s jobs report would weigh on the Fed' s rate hike decision. The Dow gained 123.68 points at session highs and traded in a range of 236.75 points.

" I think the market is starting to second guess what she said," said Daniel Deming, managing director at KKM Financial. " I think the market is trying to assess the real probability of a rate hike" in the near term.

" I think it' s Fischer' s comments" that dragged the market lower, said Robert Pavlik, chief market strategist at Boston Private Wealth, noting that the three major indexes were higher before Fischer spoke and began falling after he made his remarks.

Fischer spoke after Yellen, who said in a much-anticipated speech Friday at the central bank' s annual Jackson Hole summit that the case for a rate hike has gained strength " in recent months."

Market expectations for a rate hike in September, the Fed' s next meeting, were at 30 percent Friday afternoon, according to the CME Group' s FedWatch tool.

" I think, overall, investors expect a rate hike, but they expect it later this year," said Kate Warne, investment strategist at Edward Jones. " What we saw was Yellen not changing expectations very much."

Phil Blancato, CEO of Ladenburg Thalmann Asset Management said " the reality is they do not have enough to move rates in September ... and they certainly do not want to get in front of an election."

He added, however, if the U.S. continues to add jobs at a rate of more than 200,000 per month heading to year' s end, he would not be surprised to see the Fed raise rates by 50 basis points in December.

Gold futures for December delivery settled $ 1.30 higher at $ 1,325.90 per ounce, well off session highs.

In oil markets, U.S. crude settled 0.65 percent higher at $ 47.64 a barrel after the Saudi energy minister subdued down expectations that the Saudi Arabia might agree next month to limit output.

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Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18554.01		105.60	0.57%
S& P 500	S& P 500 Index	2184.77		12.30	0.57%
NASDAQ	NASDAQ	5247.45		35.24	0.68%

 

 

 

 

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18448.41		-33.07	-0.18%
S& P 500	S& P 500 Index	2172.47		-2.97	-0.14%
NASDAQ	NASDAQ	5212.20		-5.49	-0.11%

 

Nasdaq posts first two-day slide in 2 months health care drops nearly 1 pct

U.S. equities closed lower Thursday, with health care falling approximately 1 percent, a day ahead of a key speech from Federal Reserve Chair Janet Yellen.

" If all eyes are going to be on Janet Yellen tomorrow, everyone' s going to be disappointed," said Art Hogan, chief market strategist at Wunderlich Securities. " She has not stumbled into tipping her hand yet, and she' s been on the job for a few years. "

" There is definitely a lack of volatility and a lack of volume in the market," said Fort Pitt Capital' s Forrest.

Quincy Krosby, market strategist at Prudential Financial, said " I think [Yellen' s] going to stick to her script that the Fed is data dependent," adding that Yellen may not want to tip her hand before the release of the August jobs report.

" It' s difficult to believe she' s going to be specific about a rate hike," she said.

Yellen is scheduled to speak Friday morning in Jackson Hole, Wyoming.

Market expectations for a September rate hike were at 24 percent Thursday and around 50 percent for December, according to the CME Group' s FedWatch tool.

U.S. oil prices, meanwhile, settled 1.2 percent higher at $ 47.33 a barrel amid a lower dollar. WTI traded slightly lower earlier in the session.

Overseas, the pan-European Stoxx 600 index fell 0.84 percent. Asian markets closed mostly lower, with the Nikkei slipping 0.25 percent and the Shanghai composite falling 0.57 percent.

Gold futures for December delivery settled $ 5.10 lower at $ 1,324.60 per ounce.

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Stocks close lower, health care posts worst session since June 24

U.S. stocks closed lower on Wednesday, with health care shedding more than 1.5 percent, while investors eagerly awaited a speech from Federal Reserve Chair Janet Yellen.

" . It' s low volume ... A quiet market is easily pushed around," said Robert Pavlik, chief market strategist at Boston Private Wealth He also said:. " I think the market is waiting a little bit on the edge of its seat for Yellen' s speech. "

" That' s the number 1 thing markets are going to be focused on," said Matt Tuttle, chief investment officer at Tuttle Tactical Management, referring to Yellen' s speech. " I do not think anyone has too much conviction ahead of that speech."

Yellen is scheduled to speak on the U.S. economy and monetary policy Friday at 11 a.m. ET against a backdrop of recent hawkish rhetoric from two of her top lieutenants, New York Fed President William Dudley and Fed Vice Chairman Stanley Fischer.

" They all basically opened the door for a rate hike in 2016," said Ernie Cecilia, CIO at Bryn Mawr Trust. " It seems ... they' re trying to put the word out that a rate hike may be possible."

" I think the market is handling it pretty well," he said.

Gold futures for December delivery settled $ 16.40 lower at $ 1,329.70 per ounce.

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