Stock trading was quiet for much of Wednesday as investors waited for the Federal Reserve’s 2:00 Eastern Time decision about interest rates
. The Fed’s decision to leave rates unchanged for now was largely expected.
The stock market pressed ahead today
the gains logged
over the past several sessions
. At the close of trading in New York, the Dow Jones Industrial Average was ahead 39 points; the broader S&P 500 Index was up three points; and the NASDAQ was higher by nearly seven points.
Stocks began Monday on a bullish note
, with each of the major U.S. indexes setting intraday trading highs amidst a buoyant tone that persisted well into the second part of the day. News of a high-profile merger in the defense industry between missile and satellite manufacturer Orbital ATK
(OA) and top-five U.S. defense contractor Northrop Grumman
(NOC) stoked the initial rally.
On a Friday that saw neither the bulls nor bears establish dominance, the major U.S. indexes each rose in value
. The Dow Jones Industrial Average spent the entire session in positive territory, as strength from Boeing (BA), Verizon (VZ), and its technology components. The tech-laden NASDAQ was accordingly strong, as well, helping to offset yesterday’s downturn, while the S&P 500 turned in a more modest gain for the day.
The U.S. stock market
got off to a mildly lower start this morning
, and ultimately delivered a mixed session
. At the close of trading in New York, the Dow Jones Industrial Average was ahead 45 points, while the broader S&P 500 Index was down three points, and the NASDAQ was lower by 31 points. Market breadth was divided, with winners nominally ahead of losers on the NYSE.
opened lower on Wednesday, as traders looked to cap gains following a solid two-day start to the weekly session. The Dow Jones Industrial Average fared relatively better than its counterparts, the S&P 500 and NASDAQ 100, which pared their losses in the afternoon and managed to
each finish a shade above
their respective breakeven lines.
Most U.S. equities
enjoyed another run up on Tuesday, which, following a mid-morning challenge by the bears, persisted into the final hour. Positivity stemmed from Treasury Secretary Steven Mnuchin's “hopeful” comments that tax reform would be implemented by the end of the year. Also contributing to the overall bullish undertone to the day were the moderated outlooks for both Hurricane Irma’s damage and tension between the United States and North Korea.
opened higher today, and managed to maintain
these gains through much of the afternoon
. At the close of trading, the Dow Jones Industrial Average was ahead 260 points; the broader S&P 500 Index was up 27 points; and the NASDAQ was higher by 72 points. Market breadth showed broad-based support for equities, with advancers easily outpacing decliners on the New York Stock Exchange. All of the major market sectors made progress, with sizable gains in the technology and financial issues. While still nicely higher for the day, some of the consumer names lagged the broader market.
moved again in a mixed fashion on Friday, as the bulls were ultimately unable to negate Tuesday’s steep selloff. Market breadth favored neither advancing nor declining stocks, as strength in the healthcare, financials, and utility sectors was cancelled out by a bearish undertone in the basic materials, energy, and technology groupings. The indexes exhibited a similar schism, with a modest uptick from the Dow offset by softness in the S&P 500 and a sharp selloff from the NASDAQ.
Thursday afternoon’s trading saw a continuation of the mixed-to-negative tone that characterized the morning activity. The S&P 500 and Dow Jones Industrial Average extended their daily losses well into the final hour, before paring the deficits as the closing bell approached. The selling of banking stocks, brought on by an increasing belief that the Federal Reserve
will forego another rate hike at the end of the year, as well as softness among entertainment components, was a primary driver for the bearish undercurrent.