US stocks ended lower after news that the Bank of Japan will allow long-term interest rates to rise sent US yields higher, snapping the longest winning streak for the Dow since 1987
On Wednesday, the U.S. Federal Reserve raised interest rates by 25 basis points as expected. Traders now only see a 20% chance that the Fed could surprise with a quarter-point increase in September. FEDWATCH
On Thursday, a Commerce Department report showed the U.S. economy grew faster than expected in the latest quarter, with an advance gross domestic product reading of 2.4%, above the 1.8% forecast by economists polled by Reuters. Kim Rupert, managing director of global fixed income at Action Economics in San Francisco, said the strong economic data earlier in the day also made the market reassess its positioning after the Federal Reserve slightly upgraded its growth outlook on Wednesday.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow rises for a 13th straight day, posting its best winning streak since 1987: Live updatesThe Dow rose Wednesday, notching its best winning streak since 1987 as traders digested a Fed rate hike and major corporate earnings. The Dow gained 82 points. The S&P 500 shed 0.02% The Nasdaq lost 0.12%
Read more »
Dow Notches Longest Winning Streak Since 1987The Dow Jones Industrial Average on Wednesday notched a 13th consecutive advance for the first time since January 1987, rising as the Federal Reserve increased interest rates to a 22-year high
Read more »
Dow notches longest winning streak since 1987Stocks were mixed Wednesday after the Federal Reserve announced a quarter-point rate hike. Traders are now focusing on the timing of a potential second hike later in the year.
Read more »
Dow's winning streak best since 1987The Dow Jones Industrial Average wrapped a 13-day winning streak, a run not seen since 1987, after Federal Reserve hiked interest rates to a 22-year high.
Read more »
Stock market news: Dow notches 13-day win streak, longest since 1987Dow notches longest winning streak since 1987 after latest Fed rate hike
Read more »
Poway man gets 31 years to life for 1987 murder, rape in CarlsbadA Poway man convicted of murdering and raping a young woman in Carlsbad more than 35 years ago was sentenced Tuesday to 25 years to life in state prison.
Read more »