The stock markets in the United States ended the trading session with mixed results today. The Dow Jones Industrial Average (DJIA) and the SP 500 gained 0.35% and 0.26%, respectively. The NASDAQ declined 0.02$ today.
Today, the Federal Reserve indicated that it would continue to support the U.S. economy amid uneven improvement in the labor market. Policy makers observed that many participants still perceive a “larger gap between the current labor market conditions and those consistent with their assessments of normal levels of utilization.”
In addition, the Federal Reserve also indicated that possibility that it could implement an interest rate hike sooner than expected. Policy makers also came close to reaching an agreement regarding the ending of the monthly bond-buying program.
Commenting on the statement of the Federal Reserve, Tood Salamone, senior vice president of research at Schaeffer Investment Research told Bloomberg, “The Fed said if data points move toward their objectives faster than expected, they’ll raise rates sooner than expected–that’s still a big if.” He added, “As the dust settles the market is supporting the idea that when you dig into the details, there’s not a whole lot to create a selloff or rally here.”
U.S. Markets
- Dow Jones Industrial Average (DJIA)- 16,978.93 (+0.35%)
- S&P 500- 1,986.68 (+0.26%)
- NASDAQ- 4,526.78 (-0.02%)
- Russell 2000- 1,159.19 (-0.28%)
European Markets
- EURO STOXX 50 Price EUR- 3,083.50 (-0.25%)
- FTSE 100 Index- 6,755.48 (-0.35%)
- Deutsche Borse AG German Stock Index DAX- 9,314.57 (-0.21%)
Asia-Pacific Markets
- Nikkei 225- 15,454.45 (+0.03%)
- Hong Kong Hang Seng Index- 25.159.76 (+0.15%)
- Shanghai Shenzhen CSI 300 Index- 2,366.14 (-0.36%)
Stocks in Focus
The shares of American Eagle Outfitters (NYSE:AEO) increased almost 12% to $12.98 per share after reporting financial results that beat the consensus estimate of Wall Street Analysts.
Heineken N.V. (ADR) (OTCMKTS:HINKY) (AMS:HEIA) rose more than 8% to €56.31 after the third-largest brewer reported €1.45 billion ($1.93 billion) in earnings before interest and taxes for the second quarter compared with the €1.32 billion consensus estimate.
The stock price of International Rectifier Corporation (NYSE:IRF) gained more than 475 to $39.10 per share. Infineon Technologies AG (ADR) (OTCMKTS:IFNNY) (ETR:IFXA) agreed to buy International Rectifier for $3 billion in cash.
