Stock Futures Point to More Losses on Wall Street; GameStop in Focus
01/28/2021 | 07:51am EDT
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By Joe Wallace and Chong Koh Ping U.S. stock futures dropped, putting Wall Street on course to extend losses amid investor concerns about a slowing economic rebound and froth in markets, exemplified by the wild trading in retailer GameStop. Futures tied to the S&P 500 fell 0.3% after the benchmark stocks gauge posted its biggest two-day decline since October. Contracts for the Nasdaq-100 slid 1%, after earnings from several technology giants including Apple underwhelmed investors late Wednesday. Futures tied to the Dow Jones Industrial Average, which has fallen for five-consecutive days in its longest losing streak since February, edged down less than 0.1%.
Thursday, 12/17/2020 13:49
GOLD PRICES set new 4-week highs against a falling US Dollar in London trade Thursday, touching $1883 per ounce as the US currency fell to new multi-year lows on the FX market after the Federal Reserve revised its key economic forecasts upwards, but kept its outlook for interest rates at zero until 2024 at the earliest. Along with GDP – now predicted to fall only 2.4% in 2020 with a 4.2% rebound next year – the Fed s forecast for the cost of living was revised upwards, taking core PCE inflation one notch higher for both this year and 2021 but still keeping it below the US central bank s 2.0% target until 2023.
Provided by Dow Jones
By Joe Wallace U.S. stocks rose to record levels Thursday as lawmakers closed in on a deal to extend a new financial lifeline to businesses and individuals that could support the economy through the coronavirus pandemic s deadliest phase. All three major stock benchmarks hit intraday highs in early trading. The Dow Jones Industrial Average added more than 160 points soon after the opening bell, rising to a high of about 30324 before fading a bit to trade 118 points higher. The S&P 500 added 0.4%. The Nasdaq Composite also rose, gaining 0.5%. Congressional leaders on Wednesday closed in on a roughly $900 billion coronavirus relief deal that includes another round of direct payments to households. After months of gridlock, the emerging agreement represented a breakthrough at a critical time in the pandemic, with vaccine distribution under way but hospitalizations hitting record highs.
Provided by Dow Jones
By Joe Wallace U.S. stock futures rose Thursday as investors cheered signs of progress toward a fresh stimulus package that could support the economy through a potential winter slowdown. Futures tied to the S&P 500 rose 0.5%, suggesting the benchmark stocks gauge may rise for a third-straight day at the opening bell. The S&P 500 closed at its second-highest level ever on Wednesday. Futures tied to the technology-focused Nasdaq-100 also rose 0.5%. Congressional leaders on Wednesday closed in on a roughly $900 billion coronavirus relief deal that includes another round of direct payments to households. After months of gridlock, the emerging agreement represented a breakthrough at a critical time in the pandemic, with vaccine distribution under way but hospitalizations hitting record highs.
Provided by Dow Jones
By Joe Wallace and Michael Wursthorn U.S. stocks closed at fresh records Thursday as lawmakers closed in on a deal to extend a new financial lifeline to businesses and individuals that could support the economy through the coronavirus pandemic s deadliest phase. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite notched both intraday highs and new closing records during a mostly upbeat trading session. Nine of the 11 major S&P 500 sectors notched gains, with some of the biggest advances coming out of the health-care, technology and real-estate sectors. That lifted the S&P 500 up 21.31 points, or 0.6%, to 3722.48 after touching a high of 3735.12 earlier in the day. The Dow Jones Industrial Average rose 148.83 points, or 0.5%, to 30303.37, while the Nasdaq Composite added 106.56 points, or 0.8%, to 12764.75.