Markets

Dow surges to triple-digit gains as Trump speaks out on markets

Dow surges to triple-digit gains as Trump speaks out on markets

U.S. markets have been under pressure all week, with the Dow notching its biggest loss ever in terms of points on Monday, rallying on Tuesday and finishing modestly lower Wednesday.

The Dow Jones Industrial Average ended down 19.42 points at 24,893.35, while the S&P 500 index closed 0.5 percent lower at 2,681.66.

All three of Wall Street's main indexes were on course for falls of between 0.2 percent and 0.4 percent, indicated by volatile premarket futures trading. Consider this: The S&P 500 has risen or fallen 1 percent five times in the past two weeks.

A day after dropping more than 1,000 points, the Dow rebounded Friday to close up more than 300 points.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.86 percent from 2.83 percent.

Corrections are seen as entirely normal occurrences, and the market, now in its second-longest bull run of all time, hasn't seen one in two years, an unusually long time.

Thursday's plunge puts the stock market into correction territory, with stocks down about 10 percent from their record high on January 26, according to Bankrate.com.

At the heart of this week's pullback in the market has been a rise in US bond yields due to growing expectations that a robustly performing economy will lead to higher inflation and a steady rise in official interest rates over this year.

Palestine relies on India for peace in region: President Mahmoud Abbas
PM Modi is expected to sign five agreements aimed at infrastructure building and employment generation. Hs will also visit the Arafat Museum before being received in a ceremony by President Abbas .

The Dow Jones Industrial Average plummeted 4.2 percent to 23,860.46.

In Toronto, the S&P/TSX composite index was down 264.97 points, or 1.73 per cent, to 15,065.61, in a broad-based decline. Many market watchers have been predicting a pullback for some time, saying stock prices had become too expensive relative to company earnings.

"You continue to have investors re-rating stocks based on higher inflation and higher interest rate expectations", said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.

Traders saw the Dow drop 1,175 points amid a sell off rush.

.

"The strong headlines job numbers and strong wage growth that we saw last Friday have really seen investors anxious about the threat of higher inflation and the prospect of higher interest rates in the USA", said Candice Bangsund, a vice-president and portfolio manager at Fiera Capital in Montreal.

Few big companies emerged unscathed, with Dow giants Boeing and Caterpillar losing around five percent, around the same range as tech titans Amazon and Facebook.

In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.2 percent.

The Dow took an early dive of 567 points shortly after the opening bell Tuesday, then surged as much as 367 points in the next half an hour. The euro was up 0.4 per cent at $1.2415 while the dollar rose 0.1 per cent to 109.22 yen.


  • Idris Elba proposes to Sabrina Dhowre at film screening

    Idris Elba proposes to Sabrina Dhowre at film screening

    Elba, 45, reportedly popped the question to the stunning Dhowre, 29, before a screening of his latest film Yardie at Rio cinema. Elba has been married twice in the past to Hanne "Kim" Norgaard from 1999 until 2003 and to Sonya Nicole Hanklin back in 2006.
    US Olympic Committee defends chief executive over Nassar response

    US Olympic Committee defends chief executive over Nassar response

    United States Olympic Committee (USOC)'s Larry Probst admits they took too long to reach out to gymnasts abused by Larry Nassar. Center for SafeSport, which is responsible for investigating all abuse cases involving Olympic athletes.
    Kim Jong Un invites South Korean President Moon to Pyongyang

    Kim Jong Un invites South Korean President Moon to Pyongyang

    North Korea's leader has sent his sister Kim Yo Jong to the event.and she's shaken hands with the South Korean President. US President Donald Trump and the North Korean leadership traded insults as tensions rose.
  • Laura Dahlmeier wins gold medal in women's 7.5-kilometer sprint

    Laura Dahlmeier wins gold medal in women's 7.5-kilometer sprint

    Reid was cheerful despite a bad night in which she had more misses than anyone else - seven - and a time of 26:18. An early miss in the prone, proved costly for Olsbu, leaving her in a battle for silver with Vitkova.
    West Ham's David Moyes not anxious  by Patrice Evra's Marseille departure

    West Ham's David Moyes not anxious by Patrice Evra's Marseille departure

    The draw is priced up at [3.4] which is also potentially tempting considering West Ham have been held in their last two home games.

    Analyst Research and Ratings: CBS Corporation (CBS), Bristol-Myers Squibb Company (BMY)

    It improved, as 24 investors sold WDAY shares while 78 reduced holdings. 65 funds opened positions while 203 raised stakes. The investor is now holding $5.65 million shares due in part to a decrease of 14570 new shares in their portfolio.
  • Nothing Makes Me Emotional Quite Like Olympic Teams With Just One Athlete

    Nothing Makes Me Emotional Quite Like Olympic Teams With Just One Athlete

    And Pyongyang, for its part, testily announced it had no interest in meeting him to begin with. And women's ice hockey players from both Koreas will compete as one team.
    Plight of civilian population in Syria

    Plight of civilian population in Syria

    The official spoke on condition of anonymity because he was not authorized to talk to the media. The attack came just hours after Israel said one of its military jets was shot down in Syria.
    Liberal outrage as Dems ignore 'dreamers' in budget deal

    Liberal outrage as Dems ignore 'dreamers' in budget deal

    Ryan insisted he's committed to bringing an immigration bill to the floor, but said it must be one that President Trump will sign. Pelosi is taking a stand as Congress faces pressure to agree to a new budget deal that will avert another government shutdown .
  • Activision Blizzard (ATVI) Given a $81.00 Price Target at Wedbush

    Activision Blizzard (ATVI) Given a $81.00 Price Target at Wedbush

    Inc. now owns 66,349 shares of the company's stock worth $4,280,000 after acquiring an additional 32,224 shares during the period. The firm has "Buy" rating given on Monday, November 7 by Benchmark. (NASDAQ: ATVI ) on Thursday, September 7 with "Buy" rating.
    Man sold bogus tickets to Duke-UNC game, police say

    Man sold bogus tickets to Duke-UNC game, police say

    Duke is also the second best rebounding team in College Basketball , and rank within the Top 10 in assists per game. Twice a year - this great College Basketball games takes place, and this is the first of two within a month.
    Mobile US reports record Q4, FY results

    Mobile US reports record Q4, FY results

    Record financial results across the board and over 5 million customers added for the fourth year in a row. T-Mobile was able to boost its quarterly revenues by 5 percent to more than $10.8 billion.