FYI: Stocks were mixed on Wednesday, with investors grappling with rising interest rates after the release of strong U.S. economic data.
The Dow Jones Industrial Average climbed 54 points, after hitting an all-time high earlier in trading of 26,951.81 points. The S&P 500 was up, as losses in consumer and utility stocks outweighed gains in the financial sector. The Nasdaq Composite rose 0.3 percent, with Apple rising more than 1 percent.
Stocks which are negatively effected by higher rates, including utilities and consumer product companies with large dividends like Procter & Gamble, fell 1.2 percent.
Stocks have gotten a boost this week after the U.S. and Canada reached a compromise on trade policy, leading some investors to anticipate further trade deals ahead with China. Despite worries that tariffs could slow the global economy, steady U.S. growth and earnings figures have boosted stock indexes throughout the year.
A number of Federal Reserve officials have delivered upbeat comments about the U.S. economy this week, reinforcing the view that inflation remains steady but not so strong that the central bank needs to hasten its pace of interest-rate increases. Some investors expect that backdrop to continue lifting stocks in the fourth quarter.
S&P 500 Sectors: Up/Down: Consumer Discretionary (D) Consumer Staples (D) Communication Services (U) Energy (U) Financials (U) Healthcare (D) Industrials (U) Materials (D) Real Estate (D) Technology (U) Utilities (D)
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-10-03/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-10-02/asian-stocks-face-mixed-start-dollar-climbs-markets-wrap?srnd=premiumWSJ:
https://www.wsj.com/articles/european-shares-gain-on-hopes-for-italian-budget-shift-1538554370Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-climbs-as-financials-gain-sp-nears-record-high-idUSKCN1MD1DGIBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-today-apple-intel-boost-dow/MarketWatch:
https://www.marketwatch.com/story/dow-could-carve-out-record-as-italy-fears-fade-2018-10-03/printCNBC:
https://www.cnbc.com/2018/10/03/us-markets-fresh-economic-data-in-focus.htmlEurope:
https://www.cnbc.com/2018/10/03/european-stocks-seen-slightly-higher-italy-spending-in-focus.htmlAsia:
https://www.cnbc.com/2018/10/03/asia-markets-us-china-trade-war-currencies-in-focus.htmlBonds:
https://www.cnbc.com/2018/10/03/us-bonds-and-fixed-income-fed-remarks-in-focus.htmlCurrencies:
https://www.cnbc.com/2018/10/03/forex-markets-dollar-euro-italy-in-focus.htmlOil:
https://www.cnbc.com/2018/10/03/oil-markets-us-crude-inventories-us-sanctions-on-iran-in-focus.htmlGold
https://www.cnbc.com/2018/10/03/gold-markets-italy-trade-us-federal-reserve-in-focus.htmlWSJ: Markets At A Glance:
http://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
