Closing Bell July 15 – Business Insider
Computer hardware, energy, and semiconductor stocks also moved to the upside on the day, while some weakness was visible among biotech and banking stocks. Other Markets In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Wednesday. Japan’s Nikkei 225 Index edged down by 0.1 percent, while Hong Kong’s Hang Seng Index rose by 0.3 percent. Meanwhile, the major European markets all showed strong moves to the upside on the day.
Each reading was 10 basis points lower than economists had expected, but production was still 4.4% higher year over year and a sign that industries are still increasing their output, albeit at a slow pace. The producer price index for last month increased 0.4%, seasonally adjusted, coming in ahead of expectations and reversing the 0.2% monthly decline from the previous month. Gasoline prices drove much of the gain, and wholesale prices continue to improve over last year’s levels. Separately, homebuilder confidence rose to its best level in six months, with a July index reading of 53. The latest index, by being higher than 50, indicates homebuilders are more upbeat than downbeat on current housing conditions.
US stocks move higher; Time Warner soars – Yahoo Finance
“There’s no indication that the U.S. is going to stop earlier with (stimulus) than what the market had been expecting,” said Abri du Plessis, chief investment officer of Gryphon Asset Management. He however added that potential interest rate hikes in South Africa were a worry. “I’m a bit concerned about valuations.
Stocks Higher After Data, Earnings – Yahoo Finance
Economists were expecting the index to decline to 17.0. According to the New York Fed, this was the reading’s highest level in over four years. Following the report, Sam Coffin at UBS said, “The Empire State survey has generally appeared consistent with the rebound in growth and rebuilding of inventories that we see for Q2: its average level of 13.2 was the highest since [the first quarter of 2012].” 5) Before the market open, JPMorgan top 10 stocks to buy right now and Goldman Sachs both reported quarterly earnings, with both banks beating on the bottom line. JPMorgan reported Q2 earnings per share, excluding certain items of $1.46. Analysts were expecting earnings of $1.31.
South Africa stocks at record high, but valuations a concern – Yahoo News
Investors are keeping an eye on Federal Reserve Chair Janet Yellen, who is testifying to Congress for a second day. The Dow Jones industrial average rose 36 points, or 0.3 percent, to 17,106 in midday trading Wednesday. The Standard & Poor’s 500 index rose three points, or 0.2 percent, to 1,976. The Nasdaq rose four points, or 0.1 percent, to 4,420.