Arab Today, arab today dovish fed stance lifts us stocks near records
Last Updated : GMT 04:48:33
Arab Today, arab today
Arab Today, arab today

Dovish Fed stance lifts US stocks near records

Arab Today, arab today

Arab Today, arab today Dovish Fed stance lifts US stocks near records

Dovish turn by the Federal Reserve cooled the dollar
New York - AFP

A dovish turn by the Federal Reserve cooled the dollar and helped propel US stocks this week, with the Nasdaq scoring especially impressive gains.
The tech-rich index surged 154.66 points (3.17 percent) on the week, to 5,026.42, finishing only about 22 points below its record struck in the year 2000.
The Dow Jones Industrial Average jumped 378.34 (2.13 percent) to 18,127.65, while the broad-based S&P 500 advanced 54.66 (2.66 percent) to 2,108.06.
The week was dominated by Wednesday's Fed policy statement, which had been anticipated for clues on when the US central bank intended to hike interest rates.
The Fed dropped a pledge to remain "patient" on raising interest rates, signalling a midyear federal funds rate hike remained possible after keeping the key rate at the zero level for more than six years.
But other language in the Fed's statement emphasized that the central bank was in no rush to hike the ultra-low rates, which have supported the stock market. The Fed also broadly lowered its outlook on the US economy this year.
"There were people on the sidelines waiting" for the Fed meeting, said Tom Cahill, a portfolio strategist at Ventura Wealth Management.
"They were forced back into the market."
US stocks surged  Wednesday and - after a partial pullback Thursday - again on Friday. Part of the good cheer was from a retreat in the dollar, which had surged near parity with the euro earlier in the week.
"The market is cheering the news that the Fed rate increase will happen later in the year than previously thought," said David Levy, a portfolio manager at Kenjol Capital Management.
However, Levy said volatility could pick up again in the coming weeks due to lingering concerns about the strong dollar and weak oil prices, among other issues.
The outperformance in the Nasdaq was spurred in part by positive news-flow from Apple, the world's biggest publicly traded company by market value.
Apple got a lift from reports that it is in talks with CBS, ABC and other networks to offer a slate of television broadcasts across its devices.
The other big winner this week was Biogen, which sparked a rally in the biotech sector when it reported promising clinical results for its aducanumab drug to treat Alzheimer's disease.
In other corporate news, Valeant Pharmaceuticals International sealed its deal to takeover of Salix Pharmaceuticals after raising its bid by 10 percent $173 per share or $15.8 billion in cash. Following the sweetened Valeant bid, Endo International withdrew a competing offer.
On Friday, US mall giant Simon Property Group raised its bid for Macerich Co. by five percent to $16.8 billion. Macerich had rejected the earlier bid.
US coffee giant Starbucks hit a 52-week high after announcing a stock split, even as the company ran into criticism from some on social media over its "Race Together" initiative, which encourages baristas to engage customers in a discussion of race.
Next week's calendar includes existing home sales, new home sales and durable goods orders for February.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dovish fed stance lifts us stocks near records Arab Today, arab today dovish fed stance lifts us stocks near records

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday