Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end higher on Friday

25-Aug2018

US markets end higher on Friday

The US markets closed higher with gains of over half a percent on Friday after Federal Reserve Chairman Jerome Powell affirmed the central bank's strategy of gradually normalizing monetary policy, highlighting the strength in the economy and robust corporate results that have helped to support investment appetite for equities. Powell said he sees two risks surrounding rate hikes, which he outlined as 'moving too fast and needlessly shortening the expansion, versus moving too slowly and risking a destabilizing overheating.' Besides, the strong results from retailers led the major indexes to slight weekly gains as investors also shook off renewed legal worries surrounding Trump.

On the economic front, the Commerce Department released a report showing a much bigger than expected decrease in durable goods orders in the month of July. The Commerce Department said durable goods orders tumbled by 1.7 percent in July after climbing by 0.7 percent in June. Street had expected durable goods orders to drop by 0.5 percent. Excluding a significant decrease in orders for transportation equipment, durable goods orders rose by 0.2 percent in July after inching up by 0.1 percent in June. Ex-transportation orders had been expected to rise by 0.5 percent.

Dow Jones Industrial Average rose 133.37 points or 0.52 percent to 25790.35, the S&P 500 gained 17.71 points or 0.62 percent to 2874.69 and Nasdaq was up by 67.52 points or 0.86 percent to 7945.98.


Related News

View all news

US markets close sharply lower on Monday

The US markets closed sharply lower on Monday with the Nasdaq falling to its lowest closing level in almost five months, as the biggest and most popular technology stocks plunged. Facebook and Apple led......

Asian markets exhibit mixed trend in early deals on Monday

Asian market indices are exhibiting mixed trend in early deals on Monday, amid the ongoing trade tensions between United States -China and on renewed anxiety about Brexit. The Japanese market is advancing......

US markets end choppy session mostly in green

The US markets ended choppy session mostly in green on Friday, with Dow Jones gaining around half a percent, as comments from President Donald Trump once again sparked hopes that a trade dispute with China......

Top News

View all news

Jumbo Finance gets shareholders' nod to increase borrowing limits up to Rs 30 crore

Jumbo Finance has received an approval to increase Borrowing Limits of the company up-to Rs 30 crore. The shareholders of the company at their meeting held on November 19, 2018, approved the same.Jumbo......

Alembic Pharma gets USFDA's nod for Vardenafil Hydrochloride Orally Disintegrating Tablets

Alembic Pharmaceuticals has received an approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Vardenafil Hydrochloride Orally Disintegrating Tablets,......

SRF expects total Rs 28 crore quantum of damage due to Cyclone GAJA

SRF is expecting a total Rs 28 crore quantum of damage caused, based on the initial assessment. The disruption of operations was due to Cyclone GAJA at the plant of Technical Textiles Business (Viralimalai)......