Arab Today, arab today us stocks jump as market sees fed support staying
Last Updated : GMT 20:56:46
Arab Today, arab today
Arab Today, arab today

US stocks jump as market sees Fed support staying

Arab Today, arab today

Arab Today, arab today US stocks jump as market sees Fed support staying

New York - AFP

US stocks Wednesday surged after investors took a reduced estimate of US first-quarter economic growth as a sign the Federal Reserve would maintain its aggressive bond-buying program. The Dow Jones Industrial Average jumped 149.83 (1.02 percent) to 14,910.14. The broad-based S&P 500 rose 15.23 (0.96 percent) to 1,603.26, while the tech-rich Nasdaq Composite Index added 28.34 (0.85 percent) to 3,376.22. The gains came after the Commerce Department slashed its estimate for first-quarter growth from 2.4 percent to 1.8 percent. Investors \"now understand that the Fed is only going to pull back on its QE if the economy is continuing to improve,\" said Michael James, managing director of trading at Wedbush Morgan Securities. \"If we are not seeing economic improvement, the Fed is not going to remove their QE.\" Analysts said the market was also primed to rally after a steep sell-off last week, brought on by worries then of a pullback in Fed stimulus. Big companies posting large gains included Microsoft (up 2.1 percent), Boeing (up 2.1 percent) and Johnson & Johnson (up 1.9 percent). General Mills fell 0.5 percent after forecasting that 2014 earnings would come in at $2.87-$2.90 per share, below the $2.93 seen by analysts. Agrotech giant Monsanto dropped 0.6 percent after revenues came in at $4.2 billion, below the $4.4 billion forecast by analysts. Profits were six cents per share above the $1.60 expected. Coal producers Arch Coal (-5.0 percent), Consol Energy (-3.0 percent) and Peabody Energy (-3.3 percent) continued to sink in the wake of the Obama administration\'s climate policy announced Tuesday, which could force costly investments in clean technologies and promotes rival energy sources. Generic pharmaceutical manufacturer Mylan edged 0.3 percent higher after announcing it would launch a generic version of sexual dysfunction drug Viagra in 11 European countries. Bond prices jumped. The yield on the 10-year US Treasury fell to 2.54 percent from 2.59 percent Tuesday, while the 30-year fell to 3.57 percent from 3.61 percent. Bond prices move inversely to yields.

arabstoday
arabstoday

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 us stocks jump as market sees fed support staying Arab Today, arab today us stocks jump as market sees fed support staying

 



Arab Today, arab today

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 us stocks jump as market sees fed support staying Arab Today, arab today us stocks jump as market sees fed support staying

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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