FILE- In this Dec. 27, 2018, file photo trader Jonathan Mueller, foreground, works in a booth on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Jan. 30. (AP Photo/Richard Drew, File)
Republished January 30, 2019 - 1:11 PM
Original Publication Date January 30, 2019 - 9:06 AM
NEW YORK - The latest on developments in financial markets (all times local):
4 p.m.
Stocks added to their gains on Wall Street after the Federal Reserve sent a strong signal that it was in no hurry to continue raising interest rates.
The gains Wednesday pushed the Dow Jones Industrial Average above 25,000 points for the first time since early December.
Boeing soared 6.3 per cent after reporting a blowout quarter. Other companies including Anthem also rose after reporting strong results.
The dollar weakened against other currencies as traders anticipated that U.S. interest rates would remain low for longer than previously expected.
The S&P 500 rose 41 points, or 1.6 per cent, to 2,681.
The Dow rose 434 points, or 1.8 per cent, to 25,017. The Nasdaq gained 154 points, or 2.2 per cent, to 7,183.
Bond prices rose. The yield on the 10-year Treasury fell to 2.69 per cent.
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2:10 p.m.
Stocks got a bump higher in afternoon trading after the Federal Reserve indicated that it could leave interest rates alone in the coming months, taking a pause from its credit-tightening program.
The Fed also said Wednesday that it was prepared to adjust how fast its bond holdings would decline, if necessary. That would help keep long-term interest rates, such as those on mortgages, from rising too fast.
Investors liked what they heard.
The Dow Jones Industrial Average added about 170 points to its afternoon gain after the Fed released its statement. The Dow was up 421 points, or 1.7 per cent, at 24,990.
Other indexes also added to their gains.
The dollar weakened against other currencies as traders anticipated that U.S. interest rates would remain low for longer than previously expected.
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11:45 a.m.
Strong results from Boeing and Apple helped send stocks higher on Wall Street, putting the market on track to rise after two days of losses.
Apple rose 4.8 per cent after reporting results that weren't as bad as analysts feared.
Boeing jumped 6.6 per cent after reporting annual revenue of more than $100 billion for the first time.
Traders will be watching trade talks between the U.S. and China which resumed in Washington, as well as an afternoon policy statement from the Federal Reserve.
The S&P 500 rose 22 points, or 0.9 per cent, to 2,662.
The Dow Jones Industrial Average added 335 points, or 1.4 per cent, to 24,913. The Nasdaq gained 71 points, or 1 per cent, to 7,100.
Bond prices fell. The yield on the 10-year Treasury rose to 2.73 per cent.
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9:35 a.m.
Strong results from Boeing and Apple are helping send stocks higher in early trading on Wall Street, putting the market on track to rise after two days of losses.
Apple rose 4.8 per cent after reporting results that weren't as bad as analysts feared. Boeing reported annual revenue of more than $100 billion for the first time.
Traders will be watching for any developments out of trade talks between the U.S. and China which resume today in Washington, as well as a policy statement in the afternoon from the Federal Reserve.
The S&P 500 index rose 17 points, or 0.6 per cent, to 2,657.
The Dow Jones Industrial Average added 267 points, or 1.1 per cent, to 24,851. The Nasdaq gained 75 points, or 1.1 per cent, to 7,103.
News from © The Associated Press, 2019