got a pleasant surprise today when news came before the market opened that China’s central bank was cutting interest rates. Adding to the euphoria was a pledge by European Central Bank President Mario Draghi to be more aggressive about stimulating the euro zone economy.
today rose modestly after a bevy of positive economic reports countered gloomy manufacturing data out of Europe and China. At the close, the Dow Jones Industrial Average was 33 points higher; the NASDAQ rose 26 points; and the S&P 500 gained four points. Market breadth was stronger than these major indexes indicated, with about two stocks advancing for every one falling on both the New York Stock Exchange and the NASDAQ.
It was predominantly a bearish day
on Wall Street
, but after falling to their intra-day nadirs in late morning, the major averages
were able to climb
somewhat off of those lows
, with the Dow Jones Industrial Average briefly moving into positive territory shortly after the Federal Reserve
released the minutes
from its latest monetary policy
meeting in late October.
turned in a solid performance
today on the heels of upbeat business news
this morning. For the session, the Dow Jones Industrial Average gained 40 points; the NASDAQ tacked on 31 points; and the S&P 500 added 10 points.
Much like last week, the major equity averages did not stray too far from the breakeven line
, but, overall, the mood
on Wall Street
was a bit more bearish
than we saw throughout much of the prior five trading days.
A very uneventful week of trading on Wall Street
ended in fitting fashion today, with another listless session. The major U.S. equity averages once again did not stray too far from an unchanged reading, which was a common occurrence during the five-day stretch.
The U.S. stock market
put in a choppy, and generally weaker, session today. At the close of the day, the Dow Jones Industrial Average finished up 41 points; the broader S&P 500 Index ended higher by a point; and the technology-heavy NASDAQ advanced five points.
It was another directionless session on Wall Street today
, which has been par for the course so far this week. Once again, we think the dearth of key earnings news and economic data played a major role in today’s listless performance. Indeed, this week has not provided the game-changing stories needed to push a market where valuations are looking frothy notably higher.
It was a lackluster day of trading on Wall Street
, with the major U.S. equity averages never straying too far away from the neutral line. The dearth of major economic data and earnings news stateside today, much like we saw yesterday, has not given investors much to run with so far this week.
On a day when both earnings and economic news was light, the recent good vibes on Wall Street
continued to pull equities forward. Once again, we witnessed the large-cap Dow Jones Industrial Average and the S&P 500 Index hit new intra-day highs after a sluggish start to the session on a day when the NASDAQ led the move higher, helped by buying in the technology and healthcare sectors.