NEW YORK — Reports of a cease-fire agreement in eastern Ukraine gave stock markets around the world a lift on Wednesday. In the U.S., an early gain for the stock market faded by midday, as a slide in Apple and other technology stocks tugged indexes down.
KEEPING SCORE: The Standard & Poor's 500 was down one point, a fraction of a percent, to 2,001 as of 12:10 p.m. Eastern time.
The Dow Jones industrial average rose 30 points, or 0.2 percent, to 17,096. The Nasdaq composite, which is dominated by large technology companies, sank 23 points, or 0.5 percent, to 4,575.
SCREEN BATTLE: Apple slumped $4.22, or 4 percent, to $99.09. Its rival, Samsung, introduced Galaxy smartphones with displays aimed at quick access to frequently used applications. Analysts expect Apple to unveil new iPhones with bigger screens next week.
TECH TURN: Shares in other big tech companies, including Amazon and Facebook, also lost more than 1 percent. Of the 10 sectors in the S&P 500, technology companies fell the most.
OVER THERE: News of an agreement between Russia and Ukraine drove up stocks in Germany, the largest economy in Europe and one with strong economic ties to Russia. The CAC-40 in France picked up 1 percent. Russia's benchmark MICEX jumped 3.5 percent.
U.S. ECONOMY: Another encouraging report on the U.S. economy came from the government on Wednesday. The Commerce Department said that orders for U.S. factory goods shot up 10 percent in July, the biggest one-month jump on records running back to 1992. Orders for commercial aircraft fueled the rise.
ROOM TO RUN: "Everything right now is pointing to greater market strength," said Jonathan Golub, chief U.S. market strategist at RBC Capital Markets. "What usually stops bull markets? It's almost always a recession." And there are no signs of a recession on the horizon, he said.
GOTHAM: Shares in Netflix headed higher following news that the company struck a deal with Warner Bros. to run the television series "Gotham," a show about the origins of Batman and the superhero's archenemies. The series will debut on Fox in September, and Netflix will reportedly have the rights to the show in more than one country starting next year. Netflix's stock picked up $3.50, or 1 percent, to $480.10.
CEASE-FIRE: Markets surged after Russian President Vladimir Putin issued a peace plan for eastern Ukraine. That followed an earlier announcement from Ukraine of a cease-fire deal. Details remain sketchy. Ukraine and Western countries say Russia has armed pro-Russian insurgents fighting government troops in eastern Ukraine. Moscow denies the charge.
ANALYST'S TAKE: Craig Erlam, market analyst at Alpari, said the reports of a cease-fire were "welcomed with open arms by the markets." The hope, he said, must be that painful economic sanctions between the West and Russia are soon lifted and that the European economy can reclaim lost ground. "We can't forget that the effects of the crisis have been felt in many countries beyond those directly involved," said Erlam.
AILING EUROPE: The crisis in Ukraine has played a role in hampering the European economic recovery this year. In its monthly survey, financial information company Markit highlighted tensions in Ukraine as a culprit behind a sharp fall in its gauge of business activity in the 18-country eurozone. Some economists expect the European Central Bank to announce new measures on Thursday to help pull the region out of a rut.
CHINA: An HSBC report showed that activity expanded at the fastest rate in 17 months in China's services industries. The HSBC China Service Business Activity Index rose to 54.1 in August from 50 in July.
ASIA'S DAY: Hong Kong's Hang Seng jumped 2.3 percent. Stock markets in mainland China and Southeast Asia also rose. Japan's Nikkei 225 rose 0.4 percent.
ENERGY: News of a possible cease fire helped support oil prices. Benchmark U.S. crude for October delivery was up $1.66 to $94.54 a barrel on the New York Mercantile Exchange.
___
Youkyung Lee in Seoul, South Korea contributed to this report.
Anda sedang membaca artikel tentang
Early stock-market gain fades in midday trading
Dengan url
http://emberemas.blogspot.com/2014/09/early-stock-market-gain-fades-in-midday.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Early stock-market gain fades in midday trading
namun jangan lupa untuk meletakkan link
Early stock-market gain fades in midday trading
sebagai sumbernya
0 komentar:
Posting Komentar