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.”
Notes From Schwarzman, Sternlicht, Robert Smith, Mary Callahan Erdoes, Joseph Tsai And Much More From The 2020 Delivering Alpha Conference
The following are rough notes of Stephen Schwarzman, Steve Mnuchin, and Barry Sternlicht's interview from our coverage of the 2020 CNBC Institutional Investor Delivering Alpha Conference. We are posting much more over the next few hours stay tuned. Q2 2020 hedge fund letters, conferences and more One of the most influential investor conferences every year, Read More
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.”
- 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%)
- 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%)
- 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.