Category: Market

Stocks cling to gains as Big Tech comes to DC; Kodak skyrockets

by  on  in Market

Stocks were higher Wednesday afternoon, after the Federal Open Market Committee (FOMC) released its July monetary policy decision and reaffirmed its commitment to supporting the virus-stricken economy. Executives of some of the largest tech companies in the US testified before Congress, and a host of quarterly corporate earnings results continued to flow.

Wednesday afternoon, the FOMC announced its decision to keep the benchmark interest rate unchanged at its current near-zero level, as had widely been expected by market participants.

“The path of the economy will depend significantly on the course of the virus,” the FOMC said in its statement. “The

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Stocks higher with earnings, stimulus talks in focus

by  on  in Market

Stocks rose Monday ahead of a busy week of corporate earnings results, a Federal Open Market Committee monetary policy meeting and plethora of economic data reports.

Each of the three major indices held in slightly positive territory Monday afternoon, with the information technology and materials sectors leading gains in the S&P 500. Shares of Amazon (AMZN) and Apple (AAPL) each rose more than 1%, with both companies set to report second-quarter results later this week.

Meanwhile, gold prices jumped to a record Monday morning, closing in on the $2,000 per ounce mark as investors piled into

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Stock Market News for Jul 22, 2020 – July 22, 2020

by  on  in Market

U.S. stocks finished mixed on Tuesday as investors are waiting for next round of stimulus from the U.S. government. Meanwhile, a fresh dosage of stimulus by the European Union and better-than-expected earnings results of a few big companies strengthened investors’ confidence to some extent. The Dow and the S&P 500 closed in the green while the Nasdaq Composite ended in red.

How Did The Benchmarks Perform?

The Dow Jones Industrial Average (DJI) gained 0.6% or 159.53 points to close at 26,840.40. Notably, 21 components of the 30-stock blue-chip index ended in the green while 9 closed in red. The Nasdaq

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Stock Market News for Jul 23, 2020 – July 23, 2020

by  on  in Market

Wall Street closed higher after a choppy session on Wednesday buoyed by good news from coronavirus treatment front and possible injection of fresh stimulus by the U.S. government. However, investors remained concerned about eco-political intensions between the United States and China. All three major stock index ended in the green.

How Did The Benchmarks Perform?

The Dow Jones Industrial Average (DJI) maintained its three-day winning streak gaining 0.6% or 165.44 points to close at 27,005.84. This was the first closing of the blue-chip index above 27,000 since Jun 9. Notably, 24 components of the 30-stock index ended in the green

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Stock pare gains, Nasdaq pulls back from record high as investors eye stimulus

by  on  in Market

Stocks held mostly higher after European Union leaders agreed to a breakthrough fiscal stimulus deal to help support the virus-stricken region. The Nasdaq Composite hit a record high before retreating.

After nearly five days of discussions, the 27 governments comprising the EU agreed to create a 750 billion euro, or $858 billion, recovery fund built through joint borrowing. The agreement will see about half of these funds distributed as grants to the EU states most devastated by the pandemic, while the rest will comprise low-interest loans.

With terms of the EU stimulus deal secured, market participants will be eyeing Washington,

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