U.S. markets end higher led by oil cos; Facebook extends losses
22 March, 2018, 02:09 | Author: Natasha Holloway
US stocks ended slightly lower on Wednesday, with major indexes giving up gains in choppy trade after the Federal Reserve raised USA interest rates, while a strong gain in the energy space helped limit losses.
The Federal Reserve is expected to raise USA rates for the first time this year after a two-day policy meeting, but investors are on edge over the kind of monetary policy regime new Federal Reserve Chair Jerome Powell will pursue.
Wall Street moved higher as did oil prices, while US Treasuries declined, as the US Federal Reserve began its first two-day policy meeting chaired by Jerome Powell.
Markets were also spooked by signs of a brewing global trade war - a Wall Street Journal report saying China was planning counter-measures against United States trade tariffs.
US stocks pulled back on Monday as a decline in Facebook pressured the technology sector. The S&P 500 index rose 7 points, or 0.3% to 2,720, while the Nasdaq Composite advanced 11 points, or 0.2% to 7,357.
Those expectations had sent the dollar to nearly three-week highs on Tuesday, but it eased back a quarter percent against a basket of currencies on Wednesday, having lost almost half a percent this month.
"We expect interest rates to inch higher, but not at an accelerated pace and that's why you've got some strength here today", said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management in Minneapolis.
The Dow Jones Industrial Average climbed 116.36 (+0.47 percent) to finish the session at 24,727.27.
The yield on 10-year United States government bonds reached 2.885% and short-term 2-year yield rose to 2.341%.
The world's financial leaders were seeking to clearly endorse free trade and renounce protectionism amid concern that USA tariffs on steel and aluminum and looming actions against China could trigger a trade war that would hurt global growth.
"So far, we have seen low-level (trade) skirmishes, which are not material enough to affect the world economy".
Concerns about rising U.S. Treasury bond issuance as the government faces a widening fiscal deficit after last year's U.S. tax cuts has seen yields rise this year.
Facebook shares have lost about 9 percent in just two days, and hurt shares of other social media companies such as Twitter and Snap Inc as the issue raised broader questions about consumer privacy and whether tougher regulation is on the horizon.
Crude oil prices jumped more than 2 percent to $63 per barrel.
Spot gold rose 1.8 percent at $1,334.75 per ounce, after hitting $1,335.47, its highest since March 7. U.S. West Texas Intermediate (WTI) crude futures gained $1.63, or 2.6 percent, to settle at $65.17, their highest since February 2.
The fifth case relating to fraudulent withdrawal of Rs 139 crore from the Doranda treasury in Ranchi is pending with the court. He is now serving a prison term of 3.5 years following his conviction in the Deoghar treasury case on December 23 last year.
She denied it and added: "You do something, there's going to be a reaction, and trust me daddy, there's going to be a reaction". At that point, Swift began to project her image as being above the fray. "I love her, as a songwriter, as well".
In a gift from the political gods, Nixon was waylaid by subway trouble on her way over to the event where she attacked Gov. She was immediately criticized by a Cuomo ally, who questioned Nixon's qualifications in a controversial remark.
The drug blocks sperm production through a combination of an androgen - a male hormone such as testosterone - and a progestin. Dr Page said longer term studies are now underway to confirm that when taken every day, DMAU blocks sperm production .
Austin's police chief says the latest bombing to hit the city was detonated by a tripwire, "showing a different level of skill". This latest attack has even impacted area schoolchildren. "It's more sophisticated, it's not targeted towards individuals".
Gavin Stricker, 19, was arrested later that afternoon for allegedly brandishing a knife on the school bus Monday afternoon. Three students from the school were arrested on Tuesday in separate incidents and even a sheriff's deputy was suspended.
After the incident , buses took students to Leonardtown High School, about eight miles away, where parents could pick them up. According to CNN's research , there have been 16 confirmed school shootings this year in the United States prior to today.
As the post-referendum currency effect fell out of the year on year comparisons, price rises were always likely to ease back. The data suggests that pressure on households as a result of accelerating inflation and wage stagnation may be over.
Fed officials were split on whether this week's policy meeting was the appropriate time to signal a fourth rate hike in 2018. Some hints may come when Powell and members of the Federal Open Market Committee release their revised economic forecasts.
Zervos then sued Trump, arguing that Trump painting her as a liar harmed her business and her personal reputation. The decision may also complicate Trump's effort to dismiss allegations from various women about his behavior.
Juan Martin del Potro handed Roger Federer his first loss of the year with victory in the BNP Paribas Open final at Indian Wells.
Federal judge blocks MS abortion law
The Jackson Women's Health Organization was assisted by the pro-abortion Center of Reproductive Rights in filing its lawsuit. It says that it performed 78 abortions past 15 weeks in 2017, or about 3% of Mississippi's 2,500 abortions previous year .
The Stranger Things Kids Are Making A Lot More Money Than You
According to the Hollywood Reporter , Netflix will be increasing their salaries 12 times over due to the popularity of the show. The 14-year-old British actress became a big name worldwide after she landed the breakout role of Eleven in the programme.
Salah "getting there" with Messi comparisons- Heskey
The Premier League season is careering towards its inevitable conclusion, but there is still so much time for heaps of drama. But the reaction has been pretty negative, with Liverpool fans insisting Salah should keep No.11 and make it legendary.
Jim Carrey blasted over Sarah Sanders portrait
Others on social media regarded the portrait as an appropriate likeness of somebody who routinely lies from the podium. Unfortunately, the tweet went viral and Carrey was subsequently accused of online bullying.