Tag Archives: stocks

U.S. stocks on two-day losing streak as health stocks fall

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Richard Drew/ AP In this Friday, Nov. 13, 2015, file photo, the American flag flies above the Wall Street entrance to the New York Stock Exchange.

Friday, Nov. 10, 2017|3:12 p.m.

New York City– So that’s what a losing streak feels like. Stocks fell for the 2nd day in a row Friday, which had not occurred in a month, as Amazon put a scare into yet another industry: medical device and healthcare devices companies.

Those companies slumped after an expert for Citi Financial investment Research said Amazon might be on the verge of shocking their market by speeding up distribution and cutting prices. Energy companies gave up some of their recent gains while sellers, media companies and household products business moved higher. Stocks finished the week with small losses, ending an eight-week winning streak.

One factor in those losses was unpredictability over the Republican politician strategy to cut taxes. Stocks dipped Thursday after Senate Republicans proposed leaving business tax rates alone in 2018 prior to cutting them in 2019. That surprised financiers, who pulled stocks down slightly from their current record highs.

“We would expect a little bit more of that as we get more delays and unpredictability in the tax strategy,” said Sean Lynch, the co-head of worldwide equity strategy for Wells Fargo Investment Institute. Lynch stated an eventual tax cut for companies, and for a minimum of some people, would offer investors “a dosage of confidence” that business earnings will grow a bit quicker and the economy and stock market will increase for a bit longer.

The Requirement & & Poor’s 500 index lost 2.32 points, or 0.1 percent, to 2,582.30. The Dow Jones commercial average slid 39.73 points, or 0.2 percent, to 23,422.21. The Nasdaq composite turned higher and rose 0.89 points to 6,750.94. The Russell 2000 index of smaller-company stocks inched up 0.26 points to 1,475.27.

The S&P 500 set an all-time high on Wednesday, however ended up the week down 0.2 percent. The index had gained five percent over its winning streak, the longest in nearly 4 years. The Russell 2000, which is comprised of smaller companies that may benefit more from a corporate tax cut, fell 1.3 percent this week. That was its biggest loss in three months.

Citi Investment Research study analyst Amit Hazan wrote Friday that Amazon is making fast progress in the medical supply field and could quickly begin distributing items to health centers, as some organizations appear thinking about working with the online retail giant.

“New online distribution/wholesaling models like Amazon’s will concern dominate the supply chain” in coming years, Hazan stated.

Baxter International, which offers intravenous pumps and other medical facility devices, fell $1.35, or 2.1 percent, to $64.04. Becton, Dickinson dipped $5.25, or 2.3 percent, to $219.23. Medical device maker Medtronic moved $1.48, or 1.8 percent, to $79.33.

Competitors with Amazon has actually injured retailers for years and the online giant has likewise pressured supermarkets and grocery stores with its purchase of Whole Foods. In current weeks, healthcare item business, medication suppliers and drugstores have actually all fallen as Wall Street questioned what Amazon’s logistics knowledge and its willingness to slash prices will do to their organisations. Drugstores CVS and Walgreens leapt Friday; financiers may be alleviated that Amazon could turn its focus to industries they are less associated with.

Long-suffering department stores made gains Friday. J.C. Penney advanced 42 cents, or 15.3 percent, to $3.17 after it said a closely-watched sales measurement grew for the very first time in more than a year. The business also took a smaller sized quarterly loss than experts had actually anticipated. Macy’s developed on its 11 percent dive a day earlier and included another 48 cents, or 2.5 percent, to $19.98. Rival Kohl’s increased $1.87, or 4.5 percent, to $43.04. All those companies have seen their sales and stocks topple in big part due to the fact that of increasing online competitors.

Walt Disney Co. increased $2.10, or 2 percent, to $104.78 after it stated it got bigger payments from cable television business for ESPN and provided more details about its scheduled sports streaming services. The business likewise announced prepare for a brand-new “Star Wars” movie trilogy. “Star Wars: The Force Awakens,” released in late 2015, earned about $2 billion and financiers have high wish for next month’s “The Last Jedi.”

U.S. petroleum lost 43 cents to $56.74 a barrel in New york city. Brent crude, utilized to cost international oils, gave up 41 cents to $63.52 a barrel in London.

Wholesale fuel quit 1 cent to $1.81 a gallon. Heating oil lost 1 cent to $1.93 a gallon. Natural gas increased 1 cent to $3.21 per 1,000 cubic feet.

Bond costs slumped. The yield on the 10-year Treasury note rose to 2.38 percent from 2.34 percent.

Gold dropped $13.30, or 1 percent, to $1,274.20 an ounce. Silver fell 10 cents to $16.87 an ounce. Copper lost 1 cent to $3.08 a pound.

The dollar rose to 113.54 yen from 113.32 yen. The euro was up to $1.1618 from $1.1643.

The FTSE 100 index in Britain fell 0.7 percent. The French CAC 40 lost 0.5 percent and the German DAX dipped 0.4 percent. Japan’s benchmark Nikkei 225 index lost 0.8 percent and South Korea’s Kospi fell 0.3 percent. In Hong Kong, the Hang Seng dipped less than 0.1 percent.

Is NRA transfer to regulate '' bump stocks ' genuine or a ruse?

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Allen G. Type/ AP Shooting trainer Frankie McRae intends an AR-15 rifle fitted with a “bump stock” at his 37 PSR Weapon Club in Bunnlevel, N.C., on Wednesday, Oct. 4, 2017.

Friday, Oct. 6, 2017|3:34 p.m.

ATLANTA– When the National Rifle Association advised the federal government to revisit whether “bump stocks” must be limited, it right away raised eyebrows. Why would the country’s leading gun-rights organization, unknowned for compromise, be willing to bend even just a bit when it wields possibly more influence than ever?

Some gun-industry experts say the NRA’s relocation is bit more than a ploy to stall any momentum for larger weapon control up until outrage over the Las Vegas attack subsides. It likewise carries little risk. For one, it’s unusual for the Bureau of Alcohol, Tobacco, Firearms and Dynamites to reverse course without a modification in the law. For another, “bump stocks” are not big moneymakers for the weapon market. And by looking for an administrative change, rather than a brand-new law, the NRA allows its fans in Congress to prevent going on the record with a vote.

“They’re dismissed as ridiculous devices that truly inhibit the precision of a firearm. If these bump stocks were very popular among weapon owners, we ‘d see a really various position from the NRA,” said Adam Winkler, a teacher at the University of California, Los Angeles, School of Law and author of “Gunfight: The Battle over the Right to Bear Arms in America.”

The NRA “can toss a sacrificial lamb of ‘bump stocks’ since they understand that weapon owners do not use them or like them,” he included.

The devices, initially meant to help people with impairments, fit over the stock and handgun grip of a semi-automatic rifle and enable the weapon to fire constantly, some 400 to 800 rounds in a single minute, mimicking a fully automatic gun. Bump stocks were found amongst the weapons utilized by Stephen Paddock as he drizzled bullets from a Las Vegas casino high-rise last Sunday. The gunfire eliminated 58 individuals at a show below and wounded hundreds more.

On Thursday, the NRA released a statement that prompted the ATF to evaluate whether the devices comply with federal law and said it “thinks that gadgets developed to enable semi-automatic rifles to function like fully automatic rifles need to undergo additional guidelines.”

The declaration specifically noted that it was under President Barack Obama’s administration that the gadgets were authorized to be offered and once again prompted Congress to enact one of the weapon lobby’s top priorities: a nationwide “concealed-carry reciprocity” law that would need all states to acknowledge other states’ hidden bring permits.

In a matter of hours, NRA chief lobbyist Chris Cox laid to rest any sense that the group was actively looking for a restriction of bump stocks, informing Fox News’ Tucker Carlson: “What we’ve stated is ATF have to do their job. ATF has to look and if there’s innovation that’s concerned the marketplace that enable a semi-automatic rifle to function as a totally automatic rifle, they have to be controlled differently. We didn’t discuss prohibiting anything.”

Especially, the nation’s other leading weapon lobbying groups, consisting of Gun Owners of America, restated their opposition to restricting or banning the gadgets.

The couple of business that sell bump stocks are known to include in their product packaging a letter from the ATF from 2010, when the company concluded that they were not limited by either the Gun Control Act or the National Firearms Act.

The ATF provides guidance when a producer asks the company to examine a gun or accessory to determine if its sale is limited by either federal law. It is very unusual for the ATF to reconsider its previous guidance unless federal law changes– so unusual that specialists might think of only one time when it has happened, and even then they weren’t sure their memories were proper.

The firm, describing its process in general on Friday, indicated that Congress will be accountable for decisions about regulating or prohibiting the devices.

It was not right away clear whether President Donald Trump or Attorney General Jeff Sessions, who supervises the ATF, might purchase it to re-evaluate its judgment about gadgets.

The NRA is viewed as the most powerful and most inflexible group in the gun lobby. It pours millions of dollars into political campaigns and effectively blocks legislation that would either ban particular guns or make them harder to acquire. The NRA has only gotten influence following the election of Trump, who ended up being the very first president considering that Ronald Reagan to deal with the group’s yearly conference.

After some particularly fatal mass shootings, the NRA has worked to find some commonalities with gun-control advocates.

Following the 2007 Virginia Tech shooting in which a mentally ill student shot and killed 32 people and injured 17, the NRA dealt with gun-control supporters to money a bill developed to improve record keeping so that people with mental disorders were unable to purchase a firearm.

In the days following the Las Vegas attack, unusual alliances started to emerge between top Democratic and Republican members of Congress urging that bump stocks be banned. If the devices were limited by an administrative judgment, it would spare NRA advocates in Congress from having to go on the record with a vote.

John Feinblatt, president of Everytown for Weapon Safety, cast the NRA’s move as a “wink and a nod.”

“They’re not making a concession. What they have actually done is punted this to the extremely federal agency that said bump stocks were legal,” Feinblatt said. “This was just a wink and nod.”

US stocks back to records as corporate earnings keep rising

Tuesday, July 25, 2017|8:07 a.m.

NEW YORK– U.S. stock indexes went back to their winning ways Tuesday, and the Standard & & Poor’s 500 index movinged towards a record after corporate earnings continued to come in better than analysts anticipated. McDonald’s and Caterpillar were amongst the big business reporting healthier-than-forecast revenues.

Higher costs for oil, metals and other products assisted to lift energy and raw-materials business, while tech stocks took a rare action backward after results for Seagate Technology and others in the industry fell short of expectations.

Treasury yields rose as the Federal Reserve starts a two-day conference on interest-rate policy.

KEEPING SCORE: The Requirement & & Poor’s 500 index rose 8 points, or 0.3 percent, to 2,478, since 10:45 a.m. Eastern time. If the gain holds, it would be the first for the index in 4 days and return it to an all-time high.

The Dow Jones industrial average included 106, or 0.5 percent, to 21,619. The Nasdaq composite slipped 5 points, or 0.1 percent, to 6,405.

EARTH MOVING: Caterpillar leapt $5.76, or 5.3 percent, to $113.95 after reporting much better results for the current quarter than experts expected. It likewise raised its forecast for profits and profit for the complete year, pointing out increased demand throughout a lot of its markets.

PILING HIGHER: McDonald’s increased $5.25, or 3.5 percent, to $157.10 after its profits and incomes for the current quarter topped Wall Street’s projection. The burger chain has actually been drawing in consumers with a brand-new line of premium of hamburgers and $1 sodas.

TECH STUMBLE: Technology stocks have been the year’s biggest stars up until now, as investors have actually been hungry for anything with the potential to grow quickly in a slow-growing worldwide economy.

However tech stocks in the S&P 500 dipped 0.2 percent after a number of reported outcomes that fell short of expectations.

Seagate Technology sank $6.26, or 15.7 percent, to $33.50 after the maker of hard disks and other electronic information storage reported weaker profits and revenues than experts had actually forecast.

MORE ENERGETIC: The cost of crude was on track to increase by more than 1 percent for a second straight day, and shares of oil producers and other energy companies benefited.

Energy stocks in the S&P 500 rose 1.8 percent, most amongst the 11 sectors that comprise the index. Devon Energy rose $1.25, or 3.9 percent, to $32.99, and Marathon Oil climbed 96 cents, or 3.4 percent, to $29.14.

Benchmark U.S. crude rose $1.01, or 2.2 percent, to $47.35 per barrel. Brent crude, the worldwide requirement, increased 94 cents, or 1.9 percent, to $49.76.

PRODUCTS: Metals prices also increased highly, which assisted to lift shares of mining business and other raw-material manufacturers.

Copper leapt 8 cents, or 3.1 percent, to $2.82 per pound, while silver rose 4 cents to $16.48 per ounce and gold slipped $2.50 to $1,251.80 per ounce.

Miner Freeport-McMoRan had the most significant gain amongst stocks in the S&P 500. It rose $1.70, or 13.1 percent, to $14.66. Newmont Mining had the second-biggest dive, up $2.53, or 7.5 percent, to $36.43.

YIELDS: The yield on the 10-year Treasury note rose to 2.30 percent from 2.26 percent late Monday. The two-year yield reached 1.37 percent from 1.36 percent, and the 30-year yield rose to 2.90 percent from 2.83 percent.

FINANCIAL STRENGTH: Banks and other companies in the monetary industry were strong following the rise in yields. Greater rate of interest can assist banks make bigger revenues through financing. Monetary stocks in the S&P 500 rose 1.2 percent.

FED MEETING: The Federal Reserve’s policymaking committee is beginning a two-day meeting, but investors expect to see couple of fireworks when it announces its choice on rate of interest Wednesday.

The reserve bank has already raised rates 3 times because December, and most financiers anticipate the next rate increase to come later this year or in 2018.

CURRENCIES: The euro increased to $1.1666 from $1.1645 late Monday. The dollar inched as much as 111.57 Japanese yen from 111.11 yen, and the British pound increased to $1.3046 from $1.3036.

MARKETS ABROAD: France’s CAC 40 climbed up 1 percent, Germany’s DAX gained 0.6 percent and the FTSE 100 in London increased 1 percent.

Japan’s Nikkei 225 index slipped 0.1 percent, South Korea’s Kospi index dipped 0.5 percent and the Han Seng in Hong Kong was practically flat.

With tech giants back in charge, stocks struck records once again

Monday, June 19, 2017|1:50 p.m.

New York City– Apple and other prominent technology stocks got back to their winning ways Monday and assisted drive U.S. indexes once again to tape heights.

The Requirement & & Poor’s 500 index increased 20.31 points, or 0.8 percent, to 2,453.46 and exceeded its old record, set nearly a week ago, by half a percent. The Dow Jones commercial average added 144.71 points, or 0.7 percent, to 21,528.99, and the Nasdaq composite leapt 87.25, or 1.4 percent, to 6,239.01.

Tech heavyweights, which had been amongst the stock exchange’s greatest stars until recently, led the way. After being up more than 20 percent for the year, tech stocks in the S&P 500 fell sharply 2 Fridays back on worries that they had actually risen excessive, too rapidly. In a little more than a week, tech stocks lost about a fifth of their year-to-date gains.

On Monday, Apple rose for simply the second time since two Thursdays back. It leapt $4.07, or 2.9 percent, to $146.34 for its second-best day of the year up until now. Google’s parent, Alphabet, rose $16.60, or 1.7 percent, to $975.22. Altogether, tech stocks in the S&P 500 rose 1.7 percent, the largest gain among the 11 sectors that make up the index.

It’s simply the latest example of investors steeling themselves and “purchasing the dip.” Every time the stock market has shown any weakness in the last 8 years, it’s shown to be a good move for investors to purchase. That’s because stocks have actually wound up erasing any losses sustained, just to move greater. That long performance history has actually trained investors to pounce whenever they see a dip, and experts have discovered how ingrained the impulse has become.

“It’s worrying, however I do not see what breaks it at this moment of time,” stated Nate Thooft, senior portfolio supervisor at Manulife Possession Management. “It’s going to be truly, actually tough to anticipate exactly what that scenario is. For the time being, investors are thinking, ‘We can’t manage not to be in this market, and we’ll continue to play in addition to the characteristics of the progressive melt-up.'”

Thooft expects stocks to continue increasing, even with costs high, because bonds look less attractive. Plus, earnings growth is improving for business, which assists to justify their stock rate gains.

The biggest gainer in the S&P 500 Monday was PerkinElmer, which sells screening devices and scientific instruments. It jumped $4.16, or 6.5 percent, to $67.73 after it agreed to buy EUROIMMUN Medical Laboratory Diagnostics of Germany for $1.3 billion in money.

On the other end was energy business EQT, which fell $5.26, or 9 percent, to $53.51 for the largest loss in the index. It accepted purchase Rice Energy for $6.7 billion in cash and stock in an offer that EQT stated will make it the country’s largest producer of gas. Rice rose $4.88, or 24.8 percent, to $24.57.

In overseas markets, European shares rose after French citizens offered their brand-new president a political majority in parliament. The vote “will lend him enough support to quickly implement his pro-business reform program,” said Marion Amiot, senior financial expert at Oxford Economics. She raised her forecast for French economic growth for 2018 to 1.7 percent from 1.6 percent.

The French CAC 40 acquired 0.9 percent, and Germany’s DAX rose 1.1 percent. The FTSE 100 in London rose 0.8 percent as the UK opened negotiations to withdraw from the European Union.

In Asia, Japan’s Nikkei 225 included 0.6 percent, the Hang Seng in Honk Kong climbed up 1.2 percent and South Korea’s Kospi gained 0.4 percent.

Bond rates fell, which sent out yields greater. The yield on the 10-year Treasury increased to 2.18 percent from 2.15 percent late Friday. The two-year yield reached 1.35 percent from 1.31 percent, and the 30-year yield ticked up to 2.79 from 2.77 percent.

The dollar increased to 111.54 Japanese yen from 110.84 yen late Friday. The euro was up to $1.1147 from $1.1195, and the British pound slipped to $1.2729 from $1.2780.

In the products markets, benchmark U.S. crude fell 54 cents to settle at $44.43 per barrel. Brent crude, the worldwide standard, fell 46 cents to settle at $46.91 a barrel.

Natural gas sank 14 cents to $2.89 per 1,000 cubic feet, heating oil fell 2 cents to $1.41 per gallon and wholesale gasoline held reasonably constant at $1.45 per gallon.

Gold fell $9.80 to settle at $1,246.70 per ounce, silver lost 16 cents to $16.50 per ounce and copper added 3 cents to $2.59 per pound.

US stocks blended on weak profits and greater oil rates

Wednesday, May 10, 2017|8:46 a.m.

New York City– U.S. stock indexes are blended Wednesday following weak first-quarter reports from consumer-focused companies consisting of Priceline and Disney. Drugmakers and other health care companies are likewise down. However energy business are rallying with the price of oil.

KEEPING RATING: The Requirement & & Poor’s 500 index was unchanged at 2,397 as of 11:15 a.m. Eastern time. The Dow Jones commercial average shed 10 points, or 0.1 percent, to 20,965 as Disney plunged. The Nasdaq composite declined 6 points, or 0.1 percent, to 6,114 after it set a record high Tuesday. The Russell 2000 index of small-company stocks quit most of an early gain, however was still up 2 points, or 0.2 percent, to 1,394. A lot of business on the New York Stock Exchange rose.

MOUSE MISS: Home entertainment giant Walt Disney posted lower sales than financiers anticipated and it said revenue at its cable networks declined due to the fact that of programs costs at ESPN stay high. Its stock fell $3, or 2.7 percent, to $109.07. Just recently Disney stock suffered a five-day losing streak partly brought on by concerns about cable advertising income. The stock is trading at its most affordable costs since January but is still up practically 5 percent this year.

OUT OF LINE: Earnings for online reservation service Priceline was a bit lower than analysts expected and the company’s revenue forecast for the present quarter was also frustrating. That sent the stock down $83.42, or 4.4 percent, to $1,827.71. Priceline has actually soared 44 percent over the last 12 months.

OIL: Criteria U.S. crude added $1.24, or 2.7 percent, to $47.12 a barrel in New york city. Brent crude, the global standard, acquired $1.15, or 2.4 percent, to $49.88 a barrel in London. That sent out energy business higher, as EOG Resources got $3.16, or 3.4 percent, to $94.78 and Chevron added $1.61, or 1.5 percent, to $106.69.

Oil prices started higher and made larger gains after U.S. crude stockpiles shrank more than investors anticipated last week.

The rate of U.S. crude is down 4.5 percent in May and it’s tumbled 17 percent this year. The S&P 500’s energy sector has actually dropped 10 percent in 2017.

YIPES, YELP: Online review website Yelp plunged after it slashed its earnings projection for the year. That followed a disappointing first-quarter report, and experts said the business had a hard time to keep clients. The stock sank $6.43, or 18.5 percent, to $28.27 to reach its most affordable price in almost a year.

WATCH OUT: Watchmaker Fossil toppled after another weaker-than-expected quarterly report. The business stated sales of standard watches and other jewelry continued to fall. Fossil stock traded above $100 a share as just recently as December 2014 is now trading at eight-year lows as it lost $3.97, or 21.9 percent, to $14.18.

HEALTH CARE: Botox maker Allergan is on track for its greatest loss in 2017 as its stock fell for the 4th day in a row. It’s trading around three-month lows, down $6.72, or 2.8 percent, at $231.79. That assisted take health care companies lower. In other places biotechnology business Amgen lost $2.61, or 1.6 percent, to $160.61 and EpiPen maker Mylan decreased 70 cents, or 1.8 percent, to $37.31.

TECH EARNINGS: Computer game maker Electronic Arts and chipmaker Nvidia both reported more powerful outcomes than analysts had expected. Electronic Arts, that makes video games consisting of “The Sims” and “Mass Effect,” rose $13.49, or 14.1 percent, to $109.50 and Nvidia advanced $14.82, or 14.4 percent, to $117.76. Nvidia shares are now higher this year after they tripled in worth in 2016.

PRETTY PHOTO: Appeal products maker Coty rallied after its revenue and sales topped financier forecasts. The stock had lost about a 3rd of its value over the in 2015 however jumped $2.44, and 13.7 percent, to $20.27.

BONDS: Bond prices leapt. The yield on the 10-year Treasury note fell to 2.38 percent from 2.41 percent.

CURRENCIES: The dollar fell to 114.07 yen from 114.28 yen. The euro edged down to $1.0866 from $1.0869.

OVERSEAS: Germany’s DAX fell 0.1 percent and France’s CAC-40 slipped 0.1 percent. In Britain, the FTSE 100 leapt 0.6 percent. The Japanese Nikkei 225 gained 0.3 percent and Hong Kong’s Hang Seng index rose 0.5 percent. The Kospi of South Korea fell 1 percent.

U.S. stocks mainly lower in midday trading; DuPont jumps

Tuesday, Oct. 6, 2015|9:47 a.m.

NEW YORK (AP)– Stocks were primarily lower in midday trading Tuesday, taking a time out after 5 straight days of gains. DuPont’s shares skyrocketed on news that its embattled CEO will retire, while biotechnology companies sank again. Energy stocks climbed as the cost of crude oil increased greatly.

KEEPING SCORE: The Dow Jones industrial average rose four points, less than 0.1 percent, to 16,780 since 12:05 p.m. Eastern. The Requirement & & Poor’s 500 index was down 10 points, or 0.5 percent, to 1,977 and the Nasdaq composite fell 55 points, or 1.2 percent, to 4,725.

DUPONT: The chemical giant DuPont increased $5.42, or 11 percent, to $56.72, the greatest gainer in the Dow average and the S&P 500. DuPont’s CEO Ellen Kullman stated she would retire next week. DuPont’s profits have actually lagged recently and the business has actually been a target of activist investors like Nelsen Peltz.

SPINOFF: Mining and drilling company Freeport-McMoRan rose 52 cents, or 5 percent, to $11.71 after the company stated it is checking out the concept of spinning off its oil and gas business into a different company. Freeport is mainly a copper and gold mining business, but got into oil and gas drilling over the last few years as oil prices were climbing up.

CENTRAL LENDERS: Markets are progressively positive the Federal Reserve will hold off for longer on raising interest rates following last week’s jobs report, which revealed that the united state economy was developing less jobs. On Thursday, financiers will get the minutes from the Fed’s meeting in September, which need to provide ideas on whether policymakers still feel great about raising interest rates.

UNHEALTHY: Biotechnology stocks were among the hardest struck on Tuesday. The Nasdaq Biotechnology Index sank more than 5 percent. Biotech stocks have actually been hammered in the past month on investor concerns that the market might deal with more scrutiny from Washington over its drug pricing practices.

ENERGY: U.S. benchmark crude jumped $1.97 to $48.24 a barrel on the New York Mercantile Exchange. That assisted send oil and gas companies sharply greater. ConocoPhillips, Chevron and ExxonMobil increased in between 2 and 4 percent each.

BONDS, CURRENCIES: U.S. federal government bond rates increased slightly. The yield on the 10-year Treasury note edged down to 2.04 percent. The dollar slipped to 120.17 yen and the euro increased to $1.1270.

Slow start for U.S. stocks after rough quarter

Thursday, Oct. 1, 2015|8:06 a.m.

New York City– U.S. stocks started a brand-new month lower a day after the market finished up its worst quarter in four years. Exxon Mobil, Chevron and other oil producers bucked the trend early Thursday, following crude oil higher.

KEEPING RATING: The Standard & & Poor’s 500 index slipped 7 points, or 0.4 percent, to 1,912 as of 10:04 a.m. Eastern time. The Dow Jones commercial average slid 69 points, or 0.4 percent, to 16,212, and the Nasdaq composite fell 36 points, or 0.8 percent, to 4,583.

TASKS AHEAD: Financiers are expecting Friday when the government launches its monthly report on jobs. Strong hiring would likely raise expectations that the Federal Reserve will certainly raise interest rates at its next conference. Fed authorities have said they anticipate to raise rates before completion of the year.

CRUDE: Benchmark U.S. unrefined jumped $1.65 to $46.79 a barrel on the New york city Mercantile Exchange. Brent crude, the global standard, rose $1.02 to $50.07 a barrel on the ICE exchange in London.

ACROSS THE ATLANTIC: In Europe, Germany’s DAX fell 0.4 percent, and France’s CAC-40 increased 0.3 percent. The FTSE 100 index of leading British shares climbed 0.8 percent.

CHINA: An official measure of manufacturing in China rose in September, up from its most affordable level in three years. China’s economic growth held steady at 7 percent in the current quarter ending in June.

ANALYST’S TAKE: “When it comes to China nowadays, as long as the figures are not terrible they are considered to be reputable, and while the marketplace is closed for vacations it will attract purchasers back into the mix,” said David Madden, market analyst at IG. Chinese markets are closed up until the middle of next week.

ASIA’S DAY: Elsewhere in Asia, Japan’s Nikkei 225 jumped 1.9 percent, South Korea’s Kospi rose 0.8 percent, and Australia’s S&P/ ASX 200 advanced 1.8 percent.

BONDS & & CURRENCIES: Prices for U.S. government bonds rose, pushing the yield on the 10-year Treasury write to 2.02 percent from 2.05 percent late Wednesday. The euro slipped to $1.1194 while the dollar dipped to 119.66 yen.

Asia stocks uninspired as Japan falls, Fed speech awaited

Wednesday, Sept. 23, 2015|11:58 p.m.

TOKYO (AP)– Asian stocks were uninspired Thursday as Japan’s index fell following a three-day holiday and financiers awaited a speech from the united state Federal Reserve chief.

KEEPING RATING: Japan’s Nikkei 225 dropped 2.3 percent to 17,647.45 and Hong Kong’s Hang Seng lost 0.6 percent to 21,181.74. South Korea’s Kospi increased 0.4 percent to 1,952.42 and the Shanghai Composite Index got 0.6 percent to 3,135.09. Australia’s S&P/ ASX 200 increased 0.9 percent to 5,041.70. Standards in Taiwan, Thailand the Philippines were lower.

JAPAN DATA: Preliminary outcomes of a survey of manufacturers revealed a sharp drop in new export orders that respondents associated partially to weak need in China. The reading of 50.9 for September was down from 51.7 in August, indicating a slower pace of development. Japanese media reported Prime Minister Shinzo Abe planned to announce fresh economic strategies later on in the day.

AUTO SHARES: South Korea’s Hyundai recuperated after taking the brunt of unfavorable belief in Asia originating from Volkswagen’s emissions-rigging scandal. It was the turn of Japanese automakers to fall with Japan’s stock exchange open after a three-day vacation. Toyota and Nissan both dropped 1.4 percent, performing much better than the broader market. Honda shed 3.2 percent and Mazda plunged 6.9 percent.

FED WATCH: Many investors are awaiting a speech on inflation and monetary policy Thursday by U.S. Federal Reserve chair Janet Yellen. Markets are looking for ideas on the timing of the Fed’s very first interest-rate hike in nearly a decade after it held back raising the Fed Funds earlier this month. The Fed has rate-setting conferences in October and December.

THE QUOTE: Will Yellen “provide new info that could see the markets indicated likelihood (of a rate trek this year) boost from the present level of 42 percent?” stated IG chief strategist Chris Weston. “With this level of rates, the Fed will certainly not raise this year,” he stated in a market commentary.

WALL STREET: The Requirement & & Poor’s 500 edged 0.2 percent lower to 1,938.76 on Wednesday and the Dow Jones industrial average lost 0.3 percent to 16,279.89. The Nasdaq composite slipped 0.1 percent to 4,752.74.

ENERGY: Benchmark U.S. crude was up 37 cents at $44.85 a barrel in electronic trading on the New York Mercantile Exchange. The agreement fell $1.88 to close at $44.48 a barrel in New York on Wednesday after a weak Chinese manufacturing report. Brent, a benchmark for global oils, was up 26 cents to $48.74 a barrel in London.

CURRENCIES: The dollar slipped to 119.93 yen from 120.25 yen in the previous trading session. The euro ticked greater to $1.1189 from $1.1182.