Printable Page Headline News   Return to Menu - Page 1 2 3 5 6 7 8 13
 
 
US Stocks Wobble After Big Drop        09/21 11:08

   Stocks wobbled between small gains and losses in morning trading on Wall 
Street Tuesday following a sharp pullback a day earlier.

   (AP) -- Stocks wobbled between small gains and losses in morning trading on 
Wall Street Tuesday following a sharp pullback a day earlier.

   The S&P 500 rose 0.2% as of 11:14 a.m. Eastern. The Dow Jones Industrial 
Average rose 63 points, or 0.2%, to 34,035 and the Nasdaq rose 0.5%.

   Health care companies made some of the biggest gains. Johnson & Johnson rose 
0.7% after reporting that a booster of its one-shot coronavirus vaccine 
provides a stronger immune response months after people receive a first dose.

   Technology companies also made gains in a reversal from Monday, when the 
sector slumped. A mix of industrial and financial stocks fell broadly.

   The yield on the 10-year Treasury held steady at 1.31%.

   European markets were higher, and Asian markets mostly rose. Chinese markets 
remained closed for a holiday.

   The market sell-off on Monday was prompted in part by worries about heavily 
indebted Chinese real estate developers and the damage they could do if they 
default and send ripple effects through markets. That added to a wide range of 
concerns hovering over investors, including the highly contagious delta variant 
as well as higher prices squeezing business and consumers.

   Wall Street is also gauging how the recovery's slowdown will impact the 
Federal Reserve's policies that have helped support the market and economy. The 
central bank will release a policy statement on Wednesday, which will be 
closely watched for any signals on how the Fed will eventually reduce its bond 
purchases that have helped keep interest rates low.

   Several companies are making solid gains after giving investors encouraging 
financial updates. Ride-hailing company Uber jumped 9.3% after telling 
investors that it could post an adjusted profit this quarter. Equipment rental 
supplier Herc Holdings rose 5.6% following a solid long-term growth forecast.

   Supply chain problems, which have been hurting a broad range of industries, 
weighed on several companies. Homebuilder Lennar slipped 1.7% after home 
deliveries for the third quarter fell short of analysts' forecasts because of 
supply chain problems. KAR Auction Services fell 0.4% after pulling its 
financial forecasts for the year because of the computer chip shortage that has 
been hurting the auto industry.

   Universal Music jumped 38% in its debut on Amsterdam's stock exchange.

 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN