Dow, S&P Climb on Energy and Industrials; Nasdaq Falls
- 6 years ago
Dow, S&P Climb on Energy and Industrials; Nasdaq Falls
Major indexes advanced early as worries about a faster pace of interest rate hikes by the U. S. Federal Reserve were eased by comments by St. Louis Fed President James Bullard, who expressed concerns
that a "bunch of hikes" could turn Fed policy restrictive.
NEW YORK — The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial
and energy shares as U. S. Treasury yields eased, while the Nasdaq lost ground for a third straight session.
The concerns over rising interest rates have dogged Wall Street of late,
and stocks stumbled on Wednesday after minutes from the Federal Reserve’s January meeting showed the central bank’s rate-setting committee grew more confident in the need to keep raising rates.
Benchmark 10-year U. S. Treasury yields retreated from the more than four-year highs hit on Wednesday.
The Dow Jones Industrial Average rose 164.7 points, or 0.66 percent, to 24,962.48, the S&P 500 gained 2.63 points, or 0.10 percent, to 2,703.96,
and the Nasdaq Composite dropped 8.14 points, or 0.11 percent, to 7,210.09.
Energy stocks, up 1.08 percent, also helped support gains, as oil prices advanced on a surprise draw in U. S. crude inventories.
Those gains faded, however, and major indexes finished well off session highs as investors
exercised caution in what is likely to be a rising interest rate environment.
" he said. that I wouldn’t be out there aggressively buying stocks because until the interest rate picture clarifies,
and it probably will do so at a higher level, it is just going to create problems for equities,
Major indexes advanced early as worries about a faster pace of interest rate hikes by the U. S. Federal Reserve were eased by comments by St. Louis Fed President James Bullard, who expressed concerns
that a "bunch of hikes" could turn Fed policy restrictive.
NEW YORK — The Dow and S&P 500 advanced on Thursday to halt a two-session losing skid, buoyed by gains in industrial
and energy shares as U. S. Treasury yields eased, while the Nasdaq lost ground for a third straight session.
The concerns over rising interest rates have dogged Wall Street of late,
and stocks stumbled on Wednesday after minutes from the Federal Reserve’s January meeting showed the central bank’s rate-setting committee grew more confident in the need to keep raising rates.
Benchmark 10-year U. S. Treasury yields retreated from the more than four-year highs hit on Wednesday.
The Dow Jones Industrial Average rose 164.7 points, or 0.66 percent, to 24,962.48, the S&P 500 gained 2.63 points, or 0.10 percent, to 2,703.96,
and the Nasdaq Composite dropped 8.14 points, or 0.11 percent, to 7,210.09.
Energy stocks, up 1.08 percent, also helped support gains, as oil prices advanced on a surprise draw in U. S. crude inventories.
Those gains faded, however, and major indexes finished well off session highs as investors
exercised caution in what is likely to be a rising interest rate environment.
" he said. that I wouldn’t be out there aggressively buying stocks because until the interest rate picture clarifies,
and it probably will do so at a higher level, it is just going to create problems for equities,