LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Wall Street ticks higher with eyes on earnings

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Oct 12, 2017
01:28 am
Reuters
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

Major stock indexes rose slightly on Wednesday though internally the S&P 500 showed a strong move towards so-called defensive sectors, while stocks reacted mutedly to the minutes of the most recent Federal Reserve policy meeting.

Real estate, utilities, and consumer staples were among S&P 500 sectors that posted gains, while financials were pressured by a slip in Treasury yields and industrials also fell.

"You`ve got sector rotation grinding the indexes higher and it`s hard to see what stops that," said Art Hogan, chief market strategist at Wunderlich Securities in New York.

Federal Reserve policymakers had a prolonged debate about the prospects of a pickup in inflation during their September meeting, but many policymakers still felt that another rate increase this year "was likely to be warranted."

"Nothing changes the opinion that the Fed is likely to hike rates after the December meeting," Hogan said.

The Dow Jones Industrial Average <.dji> rose 29.97 points, or 0.13 percent, to 22,860.65, the S&P 500 <.spx> gained 3.11 points, or 0.12 percent, to 2,553.75 and the Nasdaq Composite <.ixic> added 13.77 points, or 0.21 percent, to 6,601.03.

Gains in Wal-Mart and Johnson & Johnson nudged the Dow Jones Industrial Average to another record high but declines in financials kept gains on the S&P 500 in check.

J&J rose 2.1 percent to $136.76 after Jefferies upgraded the stock to "buy," saying the company`s pharma division would help it top analysts` profit estimates.

The consumer staples sector got a boost from gains in Wal-Mart , which rose 2.4 percent, as well as from Kroger , which jumped 1.7 percent to $20.88 after news that it was exploring the sale of its nearly 800 convenience stores.

Banks take the focus as JPMorgan Chase and Citigroup report results on Thursday, with analysts warning that results in the sector will largely be held back by low trading volumes, compared with a year earlier.

"Third-quarter results of large banks are expected to be tepid," said Stephen Biggar, an analyst at Argus Research. "Trading revenue (will be) down due to low volatility and loan growth remaining flat to slightly negative."

With the S&P 500 up 14 percent in 2017, investors are betting on strong earnings growth across the S&P 500.

Wunderlich`s Hogan said the catalyst to stop the grind higher in stocks would be "some big names missing the mark in earnings, away from any hurricane-related explanations."

General Electric fell 1.6 percent to $22.99 after JPMorgan said a dividend cut was "increasingly likely" and lowered its price target on the stock.

Advancing issues outnumbered declining ones on the NYSE by a 1.44-to-1 ratio; on Nasdaq, a 1.12-to-1 ratio favoured advancers.

The S&P 500 posted 47 new 52-week highs and nine new lows; the Nasdaq Composite recorded 140 new highs and 24 new lows.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Vivo Y31 with 48MP AI triple camera launched in India | Check price, camera, features and bank offers here

WATCH Biden Inauguration LIVE: Ceremony to begin at 8.30 PM IST - Join Lady Gaga, J Lo, Garth Brooks and more! Catch latest news, updates here

Budget 2021: Govt may announce development of one-stop mobile app for MSMEs

Mid-cap Stock Picks With Anil Singhvi: Akzo Nobel, Orient Refractories and PPAP Automotive are Sandeep Jain recommendations today

In chat with Anil Singhvi, Sandeep Jain recommends Nelco share | Money-making opportunity

Big bonus confirmed! Rs 5 crore cash reward for Indian cricket team after massive triumph in Australia

Get Rs 1 lakh monthly pension! Make money, just check this calculation and schemes

Stocks in Focus on January 20: ICICI Lombard, L&T Infotech, Tata Communications, IRFC IPO to Indigo Paints IPO; here are the 5 Newsmakers of the Day

Big financial assistance gift from Modi government to these 6 lakh beneficiaries of Uttar Pradesh

Cash-strapped Pakistan sinks into debt trap - blow after blow for Imran Khan

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved