Tuesday, 25 April 2017
Latest news
Main » Stocks Push To Keep Record Streak Alive As Valuations Remain A Concern

Stocks Push To Keep Record Streak Alive As Valuations Remain A Concern

24 February 2017

In its latest minutes, the USA central bank said: "Many participants expressed the view that it might be appropriate to raise the Federal Funds rate again fairly soon if incoming information on the labour market and inflation was in line with or stronger than their current expectations, or if the risks of overshooting the committee's maximum-employment and inflation objectives increased". The Standard & Poor's 500 index lost 5 points, or 0.2 percent, to 2,360. While the German DAX Index has edged down by 0.2 percent, the French CAC 40 Index is up by 0.2 percent and the U.K.'s FTSE 100 Index is just above the unchanged line.

U.S. stocks slipped Wednesday after their recent record-setting run.

Recent comments by Yellen and other Fed officials appear to suggest the Fed could raise rates at its March meeting, but the "market is not there", said Walter Todd, chief investment officer with Greenwood Capital in Greenwood, South Carolina.

The Dow was buoyed by a 3.4-percent gain in DuPont DD.N shares. The company is set to win antitrust approval from European Union regulators for its $130 billion merger with Dow Chemical, sources said.

Gold prices rose 1.4% on the day, while silver was up 0.9%. Dow Chemical's shares rose 4 percent.

The Dow Jones index was down 0.08% to 20,727.25, while the broader S&P index shed 0.2% to 2,360.74. Technology stocks are trading at their highest prices since mid-2000, before the dot-com bubble burst.

Islamic State fires more rockets Into southern Israel from Egypt
An ISIS rocket previously fired at Israel. "Forces are searching the area", the statement read. Egypt is one of just two Arab countries that have signed a peace treaty with the Jewish state.

Some Fed officials were anxious that if interest rates stay too low, the expanding economy could cause inflation to rise too fast.

FOMC minutes signal interest rates could rise faster than expected.

ACTIVISTS STAY BUSY: Drugmaker Bristol-Myers Squibb rose 57 cents, or 1 percent, to $55.36 after the Wall Street Journal reported that billionaire investor Carl Icahn bought a stake in the company. The yield on the 10-year Treasury note fell to 2.42 percent from 2.43 percent late Tuesday. Kraft Heinz went public Friday with an offer to buy the company for $143 billion, but it withdrew that offer over the weekend after Unilever said it wasn't big enough. Unilever regained $1.83, or 4.1 percent, to $46.70 after a 7.5 percent skid Tuesday. The S&P 500's technology index is barely higher. Apple, which is trading at all-time highs, lost 29 cents to $136.41.

Energy companies in the S&P 500 were the worst performers in the index, falling 1.6%.

The blue-chip CSI300 index rose 0.2 per cent, to 3,489.76 points.

Stocks Push To Keep Record Streak Alive As Valuations Remain A Concern