Stocks- Wall Street Rises as Investors Look Ahead to Fed Speeches
Published Feb 23, 2018 09:50AM ET
Wall Street rose on Friday.
Investing.com – Wall Street opened higher on Friday as bond yields fell and investors look ahead to speeches from Federal Reserve officials for clues on how quickly the Fed will raise rates.
The S&P 500 was up 14 points or 0.55% to 2,718.93 as of 9:48 AM ET (14:48 GMT) while the Dow composite increased 157 points or 0.63% to 25,120.39, and tech heavy NASDAQ Composite rose over 43 points or 0.61% to 7,253.81.
Stocks were under pressure earlier this week after minutes from the Federal Reserve’s latest meeting showed the central bank expected to continue increasing rates.
The yield on the U.S. Treasury 10-year note rose to a four-year high following the minutes. The yield eased down on Friday to 2.892%.
Investors will be watching for further clues when New York Fed President William Dudley, Cleveland Fed's Loretta Meister and San Francisco Fed President John Williams speak later in the day.
Markets were bolstered by rising technology and services stocks. Apple (NASDAQ:AAPL) rose 1.13% while Facebook (NASDAQ:FB) increased 1.11% while Tesla (NASDAQ:TSLA) surged 2.17%. Snap Inc (NYSE:SNAP) recovered 1.77% after falling over 6% on Thursday while Hewlett Packard Enterprise Co (NYSE:HPE) was up 9.81% after posting higher than expected earnings.
Meanwhile, General Mills (NYSE:GIS) was down 4.09% after it announced it was buying natural pet food company Blue Buffalo for $8 billion while Universal Display (NASDAQ:OLED) fell 12.43%.
In Europe stocks were mostly up. In Germany the DAX rose 31 points or 0.625 while France’s CAC 40 increased five points or 0.10% and in London the FTSE 100 gained 207 points or 0.93%. Meanwhile Spain’s IBEX 35 was down 70 points or 0.71% and the pan-European Euro Stoxx 50 inched up one point or 0.03%.
In commodities, gold futures fell 0.26% to $1,329.20 a troy ounce while crude oil futures rose 0.24% to $62.92 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was up 0.25% to 89.88.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.