U.S. stocks past their Fed time: Indexes post weekly gains

Reuters

U.S. stocks past their Fed time: Indexes post weekly gains

2024 9월 20, 오후 8:22 GMT

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>LIVE MARKETS-U.S. stocks past their Fed time: Indexes post weekly gains</title></head><body>

S&P 500, Nasdaq end modestly lower; Dow scores record closing high

Utilities lead S&P 500 sector gainers; Industrials weakest group

Dollar up; gold rallies >1%; crude, bitcoin dip

U.S. 10-Year Treasury yield ~flat at ~3.74%

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U.S. STOCKS PAST THEIR FED TIME: INDEXES POST WEEKLY GAINS

U.S. stocks began Friday's session with a modest move downward, and they appeared content to loiter there for the entirety of the session.

But the three main U.S. equity indexes pared their losses in the afternoon, with the Dow .DJI eking out a nominal gain and nabbing another record closing high.

The S&P 500 .SPX and the Nasdaq .IXIC shed 0.2% and 0.4%, respectively.

Despite the session's lackadaisical performance, all three indexes notched gains during "Fed week," in which the central bank implemented a 50 basis point cut to its policy rate.

On a sector level, utilities .SPLRCU stole the spotlight, rising 2.7% on the day, and ending at a record closing high. Utilities now have a year-to-date gain of 25.6% which is second only to tech's .SPLRCT 27.4% advance over the same time period.

Transports .DJT, regional banks .KRX, and chips .SOX were the laggards, sliding 3.5%, 2.1% and 1.3%, respectively.

The session, otherwise devoid of much in the way of market-moving catalysts, saw few ripples directly attributable to triple witching, the quarterly simultaneous expiration of single stock options, stock index futures, and stock index options contracts which can boost volatility and trading volume.

On a company level, FedEx FDX.N shed 15.2% after its quarterly profit drop hinted at weakening demand.

Trump Media & Technology Group DJT.O slid 8.0% to touch a new low after its post-debut lock-up expired.

Among winners, stonk pioneer GameStop GME.N surged 12.0%.

On the economic front, next week investors can chew on flash PMI, housing prices, consumer confidence, new home sales, durable goods, a final stab at GDP, and wrapping everything up on Friday is the Commerce Department's broad-ranging Personal Consumption Expenditures report.

Here's your closing snapshot:

(Stephen Culp)

*****

FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:

AUTOS: TWISTS AND TURNS WITH U.S. ELECTION SCENARIOS - CLICK HERE

GLOBAL BUSINESS SURVEY: RECESSION WORRIES CONTAINED, TRUMP VIEWED AS MOST SEVERE GEOPOLITICAL RISK - CLICK HERE

INDIVIDUAL INVESTOR BULLS BULK UP - AAII - CLICK HERE

NVIDIA HAS STRONG CORRELATION WITH SHORT INTEREST, S3 OFFERS INSIGHTS - CLICK HERE

HAPPY $5.3 TRILLION TRIPLE WITCHING FRIDAY - CLICK HERE

WALL STREET STEPS BACK AS IT DIGESTS FED WEEK - CLICK HERE

KBW SAYS WELLS FARGO'S LATEST REGULATORY WOES RAISE UNCERTAINTY AROUND ASSET CAP LIFT - CLICK HERE

S&P 500 INDEX: NEW HIGHS, BUT ORBS OF INFLUENCE ARE OUT THERE - CLICK HERE

TIME TO FIGHT THE FED? - CLICK HERE

BOE AND FED TO KEEP GOING THEIR SEPARATE WAYS - CLICK HERE

HIT THE SHOPS! SELL THE SHARES - CLICK HERE

CHINA WORRIES HIT EUROPE, AGAIN - CLICK HERE

SET FOR LOWER OPEN, BUT ALL GOOD REALLY - CLICK HERE

MORNING BID - BOJ BRINGS YEN INTO SHARPER FOCUS - CLICK HERE

Closing snapshot https://reut.rs/47Ebror

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U.S. stocks past their Fed time: Indexes post weekly gains

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