US close: Markets mixed as Fed finishes first day of meeting
Wall Street's main indices finished mixed on Tuesday as the Federal Reserve kicked off its two-day rate-setting meeting, alongside several positive updates from corporate heavyweights such as Boeing and 3M.
Dow Jones I.A.
38,239.66
04:30 15/10/20
Nasdaq 100
17,718.30
12:15 26/04/24
The Dow Jones Industrial Average finished up 0.49% at 24,504.80 and the S&P 500 added 0.15% to 2,664.11, while the Nasdaq 100 fell 0.16% to settle at 6,383.65.
On the economic front, US factory gate prices advanced at a 3.1% clip year-on-year in November, against consensus expectations for 3.0%, with the details of the report leading economists at Barclays and Pantheon Macroeconomics to conclude that inflationary pressures were in the pipeline.
In parallel, the NFIB reported that its small business confidence gauge jumped back to a Reagan-era high of 107.5 last month, the second best reading in that gauge's 44-year history.
Losses for oil were triggered by a statement from the International Energy Agency saying it was monitoring events around the Forties North Sea pipeline, but that there was no reason to act as the market remained well-supplied.
Ahead of the FOMC announcement due on Wednesday, analysts at Rabobank said: "A raise in the target range for the federal funds rate to 1.25-1.50%, from 1.00-1.25%, is widely expected.
On the corporate front, aerospace group Boeing was 2.42% higher after saying late on Monday that it was lifting its dividend and announced a new $18bn share buyback.
Comcast shares were also active, rising 2.78% after the company said it no longer planned to make a bid for the entertainment assets of 21st Century Fox, leaving Walt Disney as the sole bidder.
Post-it maker 3M was in focus as well, losing 1.12% after saying it expected 2017 earnings per share and sales growth at the top half of the guidance range.
JetBlue Airways stock ended the session 2.7% lower despite the carrier having raised its fourth quarter revenue guidance, saying the impact from the hurricanes in the Gulf of Mexico had been less than anticipated.
Dow Jones - Risers
Goldman Sachs Group Inc. (GS) $257.68 3.02%
Merck & Co. Inc. (MRK) $57.07 2.70%
Verizon Communications Inc. (VZ) $53.19 2.60%
Boeing Co. (BA) $289.94 2.39%
Pfizer Inc. (PFE) $36.59 2.35%
General Electric Co. (GE) $17.91 1.47%
Johnson & Johnson (JNJ) $142.60 1.43%
Visa Inc. (V) $113.51 0.96%
Travelers Company Inc. (TRV) $134.31 0.87%
JP Morgan Chase & Co. (JPM) $106.85 0.87%
Dow Jones - Fallers
Intel Corp. (INTC) $43.33 -0.76%
3M Co. (MMM) $236.56 -0.65%
Chevron Corp. (CVX) $119.68 -0.61%
Procter & Gamble Co. (PG) $89.85 -0.58%
Apple Inc. (AAPL) $171.70 -0.56%
McDonald's Corp. (MCD) $172.23 -0.53%
Exxon Mobil Corp. (XOM) $82.77 -0.33%
Wal-Mart Stores Inc. (WMT) $96.70 -0.26%
Home Depot Inc. (HD) $181.80 -0.25%
Caterpillar Inc. (CAT) $143.41 -0.24%
S&P 500 - Risers
Tenet Healthcare Corp. (THC) $14.91 11.85%
Mallinckrodt Plc Ordinary Shares (MNK) $24.07 7.89%
Mosaic Company (MOS) $24.84 5.08%
Freeport-McMoRan Inc (FCX) $15.71 4.59%
Seagate Technology Plc (STX) $42.12 4.08%
AT&T Inc. (T) $38.10 3.73%
CF Industries Holdings Inc. (CF) $40.60 3.05%
Goldman Sachs Group Inc. (GS) $257.68 3.02%
Nucor Corp. (NUE) $61.95 2.96%
Comcast Corp. (CMCSA) $39.51 2.78%
S&P 500 - Fallers
Edison International (EIX) $68.58 -6.03%
Iron Mountain Inc (New) (IRM) $37.81 -5.78%
Mattel Inc. (MAT) $14.62 -4.88%
Ameren Corp. (AEE) $61.36 -3.61%
Martin Marietta Mtrl (MLM) $207.25 -3.20%
Amer Water Works (AWK) $89.32 -3.18%
Kimberly-Clark Corp. (KMB) $116.42 -3.09%
NiSource Inc. (NI) $26.39 -2.91%
Sempra Energy (SRE) $114.85 -2.82%
Micron Technology Inc. (MU) $41.86 -2.67%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $42.12 4.08%
Tesla Inc (TSLA) $341.03 3.68%
Comcast Corp. (CMCSA) $39.51 2.78%
Mercadolibre Inc. (MELI) $295.12 2.19%
Activision Blizzard Inc. (ATVI) $64.40 1.95%
Alexion Pharmaceuticals Inc. (ALXN) $113.60 1.52%
Liberty Global plc Series A (LBTYA) $32.00 1.43%
Liberty Global plc Series C (LBTYK) $31.13 1.37%
Twenty-First Century Fox Inc Class A (FOXA) $34.10 1.31%
Tractor Supply Company (TSCO) $67.84 1.03%
Nasdaq 100 - Fallers
Micron Technology Inc. (MU) $41.86 -2.67%
Applied Materials Inc. (AMAT) $50.47 -2.23%
Lam Research Corp. (LRCX) $181.57 -2.15%
Nvidia Corp. (NVDA) $190.84 -1.96%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $53.65 -1.96%
Incyte Corp. (INCY) $95.40 -1.90%
Microchip Technology Inc. (MCHP) $85.84 -1.77%
American Airlines Group (AAL) $50.47 -1.62%
Fastenal Co. (FAST) $52.96 -1.60%
Maxim Integrated Products Inc. (MXIM) $51.45 -1.42%