Stocks in the healthcare, technology and utilities sectors rose, mostly outweighing losses elsewhere in the market. Bond yields were little changed.
Major U.S. stock indexes ended nearly flat Thursday after an early rally lost its strength toward the end of the day.
The market rallied in the early going as investors weighed a batch of encouraging economic reports. The positive data reinforced the outlook from the Federal Reserve, which projects slower economic growth but not a recession.On Wednesday, the Fed reduced its benchmark interest rate for the second time this year in a bid to keep the economy from stalling in the face of slowing economic growth overseas and uncertainty over the U.S.-China trade war.
The S&P 500 rose 0.06 of a point, or less than 0.1%, to 3,006.79. The Dow Jones Industrial Average gave up an early gain, slipping 52.29 points, or 0.2%, to 27,094.79.The Russell 2000 index of smaller-company stocks ended down 6.87 points, or 0.4%, at 1,561.47.Traders were encouraged Thursday by new economic snapshots, including data indicating U.S. home sales rose sharply last month and an index of manufacturing activity that beat analysts’ forecasts. Applications for U.S.
Financial and industrial stocks were among the losers. Regions Financial slid 1.4%. Southwest Airlines declined 2%. Darden Restaurants fell 5.1% after the owner of the Olive Garden and other restaurant chains reported quarterly results that disappointed investors. The company’s earnings beat Wall Street forecasts, but other performance metrics lagged amid weaker sales at some of Darden’s chains.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed might end reserve run-off, ramp up bond purchases: analystsThe U.S. Federal Reserve might announce the end of bank reserves run-off, perhap...
Read more »
ECB weighs investigating Deutsche Bank over alleged unauthorized bond purchases: sourcesThe European Central Bank is examining whether to open a formal investigation in...
Read more »
R. Kelly Bond Money Won't be Returned, Judge SaysA judge has refused to hand back the $100,000 in bail money paid by a Kelly friend.
Read more »
Stocks open slightly higher, buoyed by tech rallyStocks opened slightly higher Thursday, with tech shares leading gains. The Dow Jones Industrial Average rose 73 points, or 0.2%, to 27,220, while the...
Read more »
‘The Rhythm Section’ Trailer: Blake Lively Takes No Prisoners In Revenge Thriller From James Bond Producers“I’ve got nothing to lose.” That’s a relatable line uttered by a vengeful widow/grieving mother in The Rhythm Section, a thriller starring Blake Lively, Jude Law and Sterlin…
Read more »
Bond pros offer tips in negative-rate world: 'You can build balance'Plummeting interest rates that have resulted in more than $15 trillion worth of negative yielding debt have created headaches for fixed income investors.
Read more »