Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets closed mostly higher; Dow post minor losses


US markets closed mostly higher; Dow post minor losses

The US markets closed mostly higher on Tuesday, with the Nasdaq Composite touching a 2016 high outshining its main stock-market benchmarks. Investors were reluctant to carve out big positions as the Federal Reserve kicked off its two-day monetary policy meeting, with an updated statement due Wednesday. The Federal Open Market Committee marks its first gathering since the UK voted to leave the European Union on June 23, which resulted in global markets convulsing, highlighted by a selloff in assets perceived as risky. On the economy front, the new-home sales in June rose to a seven-year high while the Case-Shiller home-price index also inched up in May. New home sales jumped in June as sales data from prior months were revised upward, further signaling sturdy demand in the housing market. June sales rose 3.5% to a seasonally adjusted annual rate of 592,000. That was the strongest since February 2008, beating the 560,000 forecast. The median price jumped to $306,700 in June, 6% higher than a year ago. Supply retreated to 4.9 months' worth of homes at the current sales pace.

Meanwhile, the US house prices, as the S&P CoreLogic Case-Shiller 20-city composite, saw a 0.9% gain in May to stretch the 12-month advance to 5.2%. Portland had the fastest 12-month growth, at 12.5%, and eight cities had faster annual price appreciation than they did in April. From the 2006 peak, the 20-city composite is down 8.8%; it's up 40.4% from the trough in 2012. Separately, an index that measures consumer confidence held steady in July, suggesting Americans are cautiously optimistic that the US economy will continue to grow. The consumer-confidence index was little changed this month, finishing at 97.3 compared with a revised 97.4 in July. The present-situation index, a measure of current conditions, rose to 118.3 from 116.6. The future-expectations index declined to 83.3 from 84.6.

The Nasdaq added 12.42 points or 0.24 percent to 5,110.05, S&P 500 gained 0.7 points or 0.03 percent to 2,169.18, while the Dow Jones Industrial Average was down by 19.31 points or 0.10 percent to 18,473.75.

The Indian ADRs closed mixed; Dr. Reddy's Lab was down 7.99%, HDFC Bank was down 0.27% and ICICI Bank was down 0.03%. On the other hand, Tata Motors was up 0.45% and Infosys was up 0.06%. 

Related News

View all news

US markets end lower on Monday

The US markets ended a choppy trading session on negative note on Monday as an increase in tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of......

US markets end higher on Friday

The US markets ended higher on bargain hunting with the major averages bouncing off the multi-month closing lows set on Thursday. The substantial rebound by stocks also came as strong Chinese trade data......

Asian markets trade mostly in green in early deals on Friday

Most of the Asian markets are trading in green in early deals on Friday as US stock futures recovered in Asian trades after media reports indicated that the US Treasury Department has not labelled China......

Top News

View all news

Shalimar Paints lays down foundation of Nashik manufacturing plant

Shalimar Paints has laid down the foundation of a manufacturing unit to be rebuilt in Nashik, in the state of Maharashtra. The company set to commence operations by April 2019 with a planned production......

Delta Corp reports 11% rise in Q2 consolidated net profit

Delta Corp has reported results for second quarter ended September 30, 2018.The company has reported over 2-fold jump in its net profit at Rs 63.51 crore for the quarter under review as compared to Rs......

PNB plans to sell non-core assets worth Rs 8,600 crore during FY19

Punjab National Bank (PNB) has recognized various assets, including its housing finance arm, for sale and hopes to realise Rs 8,600 crore from these non-core assets during the current fiscal. Meanwhile,......