Tuesday, April 25, 2017 4:10:47 AM - Markets open
VN-INDEX 709.39 -3.02/-0.42%
HNX-INDEX 88.42 -0.46/-0.51%
UPCOM-INDEX 57.54 +0.23/+0.40%
Apple, banks push Wall Street to all-time high
Source: Reuters - 2/15/2017 9:04:16 AM
 (0 ratings. You must sign in to rate.)
Major U.S. stock indexes established record highs on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates.

Apple (AAPL.O) racked up a record high close for the second straight session, contributing to gains in the S&P 500, Dow Jones Industrial Average and Nasdaq Composite indexes.

Yellen said delaying rate hikes could force the U.S. central bank to tighten monetary policy quicker down the line, which could risk a recession. She also expressed uncertainty over economic policy under the Trump administration.

Banks, expected to gain from higher interest rates, led the market higher. Goldman Sachs (GS.N) rose 1.29 percent and Bank of America (BAC.N) added 2.82 percent. The S&P 500 financial index .SPSY jumped 1.24 percent.

So far in 2017, the KBW banking index .BKX has increased 4.5 percent.

President Donald Trump's pro-business stance sparked a record-setting rally in stocks following his November election. However, he has given scant detail on his policies, leaving the Fed with limited visibility about the economy's future direction.

Speaking to the U.S. Senate Banking Committee, Yellen did not indicate whether the Fed still planned to raise rates three times this year, nor did she indicate whether a hike might come in March or in June, as most analysts expect.

"With the new president, there is still the uncertainty of the economic policy," said Jeff Carbone, co-founder of Cornerstone Financial Partners in Charlotte, North Carolina. "How much growth we get out of the market will affect policymaking and how quickly they need to react."

The Dow Jones Industrial Average .DJI climbed 0.45 percent to end at 20,504.41 points, while the S&P 500 .SPX gained 0.40 percent to 2,337.58.

The Nasdaq Composite .IXIC added 0.32 percent to 5,782.57.

Yellen's comments lifted the dollar .DXY and U.S. Treasury yields US10YT=RR.

Eight of the 11 major S&P sectors rose, with healthcare .SPXHC adding 0.73 percent.

Apple rose as high as $135.09, an intraday record high, before ending with a gain of 1.30 percent at $135.02, its highest-ever closing price.

General Motors (GM.N) added 4.84 percent after Peugeot owner PSA Group (PEUP.PA) said it is in talks to buy GM's European Opel business.

The prospects of sector consolidation caused Fiat Chrysler (FCAU.N) to jump 4.39 percent, while Ford (F.N) gained 0.72 percent.

Advancing issues outnumbered declining ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.31-to-1 ratio favored advancers.

The S&P 500 posted 60 new 52-week highs and no new lows; the Nasdaq Composite recorded 124 new highs and 22 new lows.

About 6.7 billion shares changed hands on U.S. exchanges, in line with its daily average over the last 20 sessions.
Newer News
21/04 Oil markets remain cautious on record supplies
21/04 Asian stocks climb, euro surrenders gains as French election jitters return
20/04 Dollar edges away from recent lows with French vote in focus
20/04 Oil prices claw back ground after sharp drop, buoyed by U.S. crude stock dip
20/04 Asian stocks set for cautious start on weak U.S. cues
19/04 Dollar kicked by ascendant sterling after May calls UK vote
19/04 Sterling on a high; shares sidelined as caution rules
18/04 Dollar/yen off five-month low but U.S.-Japan trade issues limit rise
18/04 Oil prices mixed after U.S. production seen rising
18/04 Asia stocks slip amid North Korea concerns, dollar up on Mnuchin comments
Older News
15/02 Asian stocks and dollar firmer as Yellen hints at March rate hike
14/02 Dollar treads water as investors await Yellen testimony
14/02 Oil rises on OPEC-led cuts, but market remains range-bound
14/02 Asia shares eke out 19-month high, dollar holds firm
10/02 Oil prices stable on OPEC-led production cuts, but bloated inventories weigh
10/02 Trump tax talk lifts Wall Street to record high
10/02 Asian shares probe 18-month highs, cheered by Trump's tax cut talk
09/02 Dollar sags on lower yields; euro zone risk in focus
09/02 Asian stocks tread water on U.S. cues, Europe concerns
08/02 U.S. trade deficit falls as exports hit more than 1-1/2 year high
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 2:59:42 PM
VN-INDEX 709.39 -3.02/-0.42%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.