FYI: The S&P 500 edged higher Tuesday, led by shares of technology and energy companies, after investors got further evidence that inflation remains steady.
The broad index opened higher after new data confirmed that inflationary pressures remain tame, giving some investors a reassuring sign that the Federal Reserve will continue to hold off on further interest-rate increases for now.
Although most major indexes registered modest advances in midday trading, a run-up in energy stocks alongside higher oil prices, as well as ongoing strength from fast-growing tech companies, helped extend the S&P 500’s second consecutive day of gains.
Still, gains were tepid, a sign of investors’ caution after the S&P 500 and other major indexes suffered their worst week of the year last week.
The S&P 500 rose 0..30% to 2791 , while the tech-heavy Nasdaq Composite also rose .44%.
The Dow Jones Industrial Average, meanwhile, fell 96 points, or 0.38%, to 25554, pulled lower a second day by shares of Boeing after several countries ordered carriers to ground one of the aerospace company’s planes following a crash.
In Europe, stocks gave up their earlier gains after U.K. Attorney General Geoffrey Cox said Prime Minister Theresa May’s Brexit deal—revised after 11th-hour concessions from the European Union—still augured the same legal risks in the event of a trade negotiation stalemate.
The Stoxx Europe 600 fell 0.1%, while the British pound declined 0.3% against the dollar, as hopes that Mrs. May would pass her Brexit deal through parliament deteriorated.
Trading was more upbeat elsewhere. Hong Kong’s Hang Seng rose 1.5%, with sector giant Tencent Holdings up 1.8%. The tech-heavy Korean Kospi was up 0.9%, boosted by a 2.3% increase in index heavyweight Samsung Electronics.
Nine of the eleven S&P 500 led by Healthcare and Energy were in positive territory. Losers were Consumer Staples and Industrials.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-12/your-evening-briefingMarketWatch:
https://www.marketwatch.com/story/boeings-stock-keeps-dow-futures-under-pressure-but-broader-market-aims-for-slight-gains-2019-03-12/printWSJ:
https://www.wsj.com/articles/global-stocks-rise-on-tech-sector-strength-11552382250Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-11/asian-stocks-set-for-gains-dollar-retreats-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/apple-boosts-nasdaq-stock-market-boeing-drags-dow/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-rises-after-tame-inflation-supports-patient-fed-boeing-drags-dow-idUSKBN1QT1M1CNBC:
https://www.cnbc.com/2019/03/12/stock-market-investors-focus-on-strong-tech-gains-brexit-vote.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-rises-as-pound-hit-by-brexit-deal-legal-opinion-idUKKBN1QT10IEurope:
https://www.marketwatch.com/story/european-markets-mixed-as-investors-wait-for-vote-on-revised-brexit-deal-2019-03-12/printAsia:
https://www.marketwatch.com/story/asian-markets-rally-after-wall-street-snaps-losing-streak-2019-03-11/printBonds:
https://www.cnbc.com/2019/03/12/bonds-treasury-yields-move-higher-amid-optimism-over-brexit-deal.htmlCurrencies:
https://www.cnbc.com/2019/03/12/forex-markets-brexit-deal-pound-moves-in-focus.htmlOil:
https://www.cnbc.com/2019/03/12/oil-market-prices-rise-on-opec-supply-cuts-and-healthy-demand.htmlGold
https://www.cnbc.com/2019/03/12/gold-market-brexit-and-dollar-moves-in-focus.htmlWSJ: Markets At A Glance:
https://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