Business
Stock market today: Wall Street heading towards new records
NEW YORK (AP) U.S. stocks are drifting toward new record highs in quiet trading Monday, ahead of what could be a quiet, holiday-shortened week.
The S&P 500 was up 0.2% at midday and on track to close above its all-time high set Thursday. The Dow Jones Industrial Average was up 12 points, or less than 0.1%, as of 11:35 a.m. Eastern Time. The Nasdaq Composite Index added 0.1% to its own record.
Autodesk jumped 4.5%, one of the biggest gains in the market, after an investment firm said it would try to delay the software maker's annual meeting so it could appoint new directors to the board of directors. Starboard Value also discussed how it believes Autodesk has not performed as well financially as it should have. In response, Autodesk said it would consider Starboards' suggestions, but added that it has a clear strategy that works.
Chip company Broadcom rose 3.4% to add to last week's gains after reporting better-than-expected profit and saying it would undergo a 10-for-one stock split to make its price more affordable. He followed Nvidiathe company that became the epitome of Wall Street's frenzy around artificial intelligence technology and which has just made a similar split.
Broadcom was one of the most powerful forces pushing the S&P 500 higher, with Apple up 1.8% and Tesla up 4.5%.
They helped offset the weakness caused by rising Treasury yields in the bond market. The rise in yields erased some of the slowdown created last week when results were better than expected. reports on inflation raises hopes that the Federal Reserve lower interest rates Later this year.
Next week, there will be few major economic reports for the United States, beyond Tuesday's update on customer spending at U.S. retailers and Friday's preliminary review of the state of commercial activity in the United States. The markets will also be closed on Wednesday for the June 16 holiday.
A report released Monday says manufacturing in New York state continues to contract, but not as much as economists had hoped. Manufacturing has been one of the areas hardest hit by the Federal Reserve's zeal to keep its main interest rate at the highest level in more than two decades.
The Fed is trying to keep rates high long enough to slow the economy and quell high inflation, but it wants to cut rates and reverse the momentum before the slowdown turns into a painful recession.
High interest rate These measures harm all types of investments and tend to hit certain areas particularly hard. Real estate stocks, for example, can struggle when high rates make conditions more difficult for the sector and turn income-seeking investors away from bonds.
S&P 500 real estate investment trusts fell 0.9%, the worst loss among the 11 sectors that make up the index. Close behind was a 0.7% decline for utilities, whose relatively large dividends also tend to attract less interest from buyers when bonds pay more interest.
On the bond market, the yield on 10-year Treasury bills rose to 4.29% from 4.22% Friday evening. The two-year Treasury yield, which more closely tracks expectations for the Fed, rose less. It went from 4.71% to 4.75%.
On foreign stock markets, European indices calmed down somewhat after rout of recent weeks. France's CAC 40 index rose 0.9% after falling last week to its worst week in two years on concerns that potential losses by the president's centrist party could lead to a sharp rise in the country's debt .
Europe's modest gains followed Asia's losses. Japan's Nikkei 225 fell 1.8%.
___
AP Business Writer Elaine Kurtenbach contributed.
|
Sources 2/ https://apnews.com/article/stock-market-rates-china-4015f748b375b522f4d45da24e6344db The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
