On February 19, 2020, about a month before the onset of the pandemic, the S. & P. 500, which includes most of the biggest corporations in the country, closed at 3,386.15, an all-time high. On Monday, the index closed at 3,973.75—about five hundred and eighty-seven points, or roughly seventeen per cent, above that pre-pandemic peak. The performance of the Nasdaq composite has been very similar. On Monday, the tech-heavy index closed at 11,535.27, which is also about seventeen per cent above its pre-pandemic peak of 9,817.18, which came on February 19, 2020. Despite posting lower-than-expected quarterly results, Alphabet and Microsoft stocks soared. Specifically, the Labor Department said its consumer price index – which measures the cost consumers pay for goods and services – rose at an annual rate of 7.9% in February, the quickest year-over-year increase since January 1982.

Fed Chair Jerome Powell was encouraged by how the job market has held up amid the increasing inflation and demand slowdown. In this paper, we set maximum time lag τ to one week at which the auto cosine similarity function is around 0.1 (Figure3). Stock futures gain ahead of more earnings and inflation data from the fed. The fast pace Forex news of big rate hikes could “pitch this economy into a recession,” Warren told CNBC on Wednesday before the Fed raised rates again. With the Fed meeting and many big earnings out of the way, some of the hyper-uncertainty facing investors is fading. The market rally weathering this news-packed week, so far, is definitely a positive.

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SAVE holders will get $2.50 a share once they approve the merger, plus 10 cents a share, starting in January, as the agreement goes through regulatory review. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Offshore creditors want additional information about the seizure of nearly $2 billion by local banks that could explain how Evergrande pledged the funds without investors’ knowledge, according to people familiar with the matter. Ukraine is fighting for its survival and is desperate for cash, but that isn’t deterring London hedge-fund manager Richard Deitz from demanding money back from an ill-fated investment there.

  • But most analysts were not predicting a return to those dark days of a year ago.
  • Why the ‘terminal rate’ — the peak of this cycle — may still be quite far off.
  • To do this, we need to measure the extent to which a news article is novel to market participants, which is the first issue we will discuss in this paper.
  • Meta Platforms and Qualcomm headlined key earnings, with chip-equipment maker Lam Research , ServiceNow , O’Reilly Auto , Ford Motor and Teladoc Health also reporting late Wednesday.
  • Treasury yields rise a day after Federal Reserve Chair Jerome Powell said policy makers would take a meeting-by-meeting approach to monetary policy.
  • This year’s tumble in stocks has only partially erased the bonanza that investors enjoyed during the first two years of the pandemic.

We found similar relationships between the market response and news topicality for the other firms listed in Table1 and that the relationship observed in the data can not be reproduced if we use the randomized data. Response of AAPL stock to ALERT news with high and low novelty. The solid lines represent the level of market activity when the novelty measure is above the average. PDF of novelty for the 1st, 5th, 10th, and more than Forex news 20th follow-up ALERT news articles for GM. Increases in proportion to the rank, indicating that our novelty indicator correctly distinguishes news articles with different ranking. We also compare the conditional mean for ALERT and HEADLINE follow-ups to find that the novelty of ALERTs is higher than that of HEADLINEs except for initial news. Markets are mixed on Monday, as all eyes are on big tech earnings & fed meeting this week.

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On the data front, preliminary June readings showed durable goods orders unexpectedly surged 1.9%, while capital goods orders rose a better-than-projected 0.5%. Separately, a first look at wholesale inventories for the period topped estimates with a 1.9% increase. Another release revealed pending home sales fell a worse-than-expected 8.6%, marking the largest drop since April 2020. Elsewhere, West Texas Intermediate crude is rising 2.7% to $97.60/barrel following the sharpest drawdown in weekly domestic crude stockpiles since last May. The stock market rally had big gains Wednesday after the Federal Reserve hiked rates by 75 basis points for a second straight meeting. Fed chief Jerome Powell signaled that policymakers are looking toward slowing the pace of tightening down the road, even as the economy remains stressed and inflation focused. Using these two new measures, we investigated how market activity (i.e., the number of transactions, the transaction volume, volatility) respond to both novel and topical news.

stock market news today

U.S. stocks are higher near mid-session Wednesday as investors digest big tech earnings ahead of this afternoon’s Federal Reserve policy decision. Officials are expected to deliver a second straight 75-basis point (0.75%) rate hike as they prioritize their fight against inflation. Fed Chair Jerome Powell’s post-meeting remarks will be scrutinized for any clues surrounding the path of rate increases. The S&P 500 is advancing 1.5%, on course for its best month of the year (+5.1%).

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