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Home / Business / Stock Market News: August 21, 2019

Stock Market News: August 21, 2019



U.S. stocks rose Wednesday as investors assessed positive earnings results from Target and Lowe, waiting for minutes to be released from the Federal Reserve meeting in July.

Here were the key features of the market, as of 10:57 AM ET:

  • S&P 500 (^ GSPC): + 0.79%, or 22.86 points

  • Dow (^ DJI): + 0 , 91%, or 236.32 points

  • Nasdaq (^ IXIC): + 0.91%, or 72.32 points

  • 10-year Treasury yield (^ TNX): +1 bp to 1.569% [19659007] <p class = "canvas atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Investors were very much hoping that the Fed's latest meeting minutes would confirm market expectations of deeper cuts in key borrowing costs. At the end of the July meeting, sank for the first time since 2008 and markets have since priced between 50 and 75 basis points for further cuts by the end of 2019. " data-reactid = "22"> Investors largely hoped that the Fed's latest meeting minutes would confirm the market's expectations of deeper cuts in key borrowing costs. At the end of the July meeting, the Fed cut its price for the first time since 2008, and markets have since priced between 50 and 75 basis points for further cuts by the end of 2019.

    <p class = "canvas -atom canvas-text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" However, two Federal Open Market Committee (FOMC) members had dissented from the Fed's latest monetary policy decision, with each arguing instead that the economy did not need an interest rate cut in July.This has joked market participants whether FOMC would be willing to further reduce interest rates in the future, especially in the face of recent economic data that underline & nbsp; robust consumer spending & nbsp; a tight labor market . "data-reactid =" 23 "> However, two members of the Federal Open Market Committee (FOMC) had a dissent from the Fed's recent monetary policy decision, with each instead arguing that the economy of no one needed an interest rate cut in July. This has led market participants to wonder whether FOMC would be willing to reduce prices further in the future, especially in the face of recent economic data that underline robust consumer spending and a tight labor market.

    <p class = "canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Comment from Fed leader Jerome Powell on Friday During the central bank's annual & nbsp; Jackson Hole symposium & nbsp; will also be closely monitored for signals for further progress in monetary policy, giving the Fed a new opportunity to streamline announcements ahead of the next meeting. "data-reactid =" 24 "> Commentary by Fed Governor Jerome Powell on Friday during the central bank's annual Jackson Hole symposium will also be closely monitored for signals of further progress in monetary policy, giving the Fed a new opportunity to streamline messages ahead of the next meeting.

    <p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Capital Economics economist Paul Ashworth said last week that the comments could & nbsp; "trigger carnage in the bond and stock markets" & nbsp; if the public statements fail to soothe market requirements for clear signaling in favor of simpler monetary policy. "data-reactid =" 25 " > Business economist Paul Ashworth said last week that the comments could "trigger carnage in the bond and equity markets" if public statements fail to soothe the market's demands for clear signaling in favor of simpler monetary policy.

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Powell's comments come four weeks before Fed & # 39 ; September's Considerations, Which Markets That Estimates With Close Confidence & nbsp; will result in a 25 basis point reduction in the benchmark price. "data-reactid =" 26 "> Powell's comments come four weeks before the Fed's deliberation in September, which the markets estimate with near certainty will result in a 25 basis point reduction in the reference rate.

    Traders working on the floor of the New York Stock Exchange (NYSE) in New York, USA, August 13, 2019. REUTERS / Eduardo Munoz

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Overseas, interest rates have broadly become a negative territory as a dovish bias takes over international monetary policy in the midst of slowing global growth In Germany, the government sold & nbsp; 30-year bonds with negative interest rates & nbsp; for the first time on Wednesday. "data-reactid =" 38 "> Abroad interest rates have largely turned into negative territory as a dovish bias takes over international monetary policy in the midst of slowing down e the global growth. In Germany, the government sold 30-year bonds with negative interest rates for the first time ever on Wednesday.

    Germany auctioned off nearly $ 914 million of the negative return on government debt – which also has a zero coupon and thus pays no interest – as investors poured into safe haven assets and pushed up the value. Germany's government bonds have recently disappeared with negative interest rates across the curve, and the recent 30-year bond sale contributes to more than $ 15 trillion of negative-interest bonds worldwide.

    Revenue Update

    <p class = "canvas – atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "A steady stream of revenue continued to roll Wednesday, with Target ( TGT ) and Lowe's ( LOW ) reporting before the market was open. Nordstrom department store ( JWN ) and Victoria & # 39; s Secret parent company L Brands ( LB ) reports quarterly results after the market has been close. "Data-reactid =" 41 "> A steady revenue stream continued to roll over Wednesday, with Target (TGT) ) and Lowe's (LOW) pre-market reporting. Department stores Nordstrom (JWN) and Victoria's Secret parent company L Brands (LB) report quarterly results after tight market.

    The goal topped Wall Street's expectations in second quarter results and lifted full-year results, with new delivery and fulfillment initiatives including in-store pickup and shopping on the same day that help boost sales.

    <p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "E-commerce sales were also a strong point in Comparable digital sales advanced 34% and contributed 1.8 percentage points to the company's total 3.4% sales growth in the same store during the period, reflecting the results of the peer-to-peer retailer Walmart ( WMT ), which Last week outperformed expectations and increased guidance as online sales increased. "data-reactid =" 43 "> E-commerce sales were also a strong point in the report. Comparable digital sales advanced 34% and contributed 1.8 percentage points to the company's total 3.4% sales growth in the same store during the period. The results mirrored the results of the peer-to-peer retailer Walmart (WMT), which outperformed expectations last week and increased its guidance as sales increased online.

    Meanwhile, shares of Lowe increased in early trade after the company also reported better-than-expected quarterly sales and profits, reflecting the impact of CEO Marvin Ellison's turnaround plan for the home improvement giant.

    <p class = "canvas atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Ellison, who took the helm in July 2018, had & nbsp; stated earlier this year & nbsp; that Lowe & # 39; s would improve its internal systems to track inventory and prices across the company's stores, and help streamline previous operating efficiencies that had plagued the company and weighed results. During the second quarter, Lowe's comparable store sales increased 3.2% in the US, better than those of its Home Depot competitor ( HD ), which reported results on Tuesday. reactid = "58"> Ellison, who took the helm in July 2018, had earlier this year said that Lowe's would improve its internal systems to track inventory and prices across the company's stores, and help streamline previous operating efficiencies that had bothered the company and weighed the results. During the second quarter, Lowe's comparable store sales increased 3.2% in the US, outperforming Home Depot (HD) competitors, which reported earnings on Tuesday.

    <p class = "canvas-atom canvas -text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 60 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

    <p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text "content =" Read more from Emily: "data-reactid =" 61 "> Read more from Emily:

    <p class =" canvas-atom canvas text Mb (1.0 em ) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Follow Yahoo Finance on Twitter Facebook [19659021] Instagram Flipboard LinkedIn and reddit . "data-reactid =" 68 "> Follow Yahoo Finance on Twitter Facebook Instagram Flipboard LinkedIn [19659038] and reddit .

    <p class = "canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read lat est financial and Yahoo Finance Business News "data-reactid =" 69 "> Read the latest Yahoo Finance and business news


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