US close: Markets mixed on rate hike fears
Wall Street markets closed mostly lower on Thursday, with investors growing concerned at the possibility of tighter monetary policy from the Federal Reserve after the release of strong inflation data.
Dow Jones I.A.
37,903.29
04:30 15/10/20
Nasdaq 100
17,541.54
12:15 02/05/24
The Dow Jones Industrial Average finished the day up 0.2% at 22,203.48, while the S&P 500 was off 0.11% at 2,495.62 and the Nasdaq Composite lost 0.48% to 6,249.08.
On the economic front, the consumer price index rose 1.9% year-on-year in August, ahead of a Reuters-polled consensus forecast for a 1.8% rise.
Leading the charge on consumer prices were gasoline and residential rent.
Investors quickly translated that into concern over another rates hike, with expectations for a rise in December jumping to 52.9% from 41.3% after the CPI was released, according to CME Group’s FedWatch.
There was also still focus on geopolitical tension on the Korean peninsula, as reports emerged that Pyongyang could be preparing to test an intercontinental ballistic missile.
On the corporate front, Lattice Semiconductor was down 0.35% after President Donald Trump cancelled a buyout of the chipmaker by China-based investment funds, calling it a national security risk.
Credit reporting agency Equifax was off 2.35% after the Federal Trade Commission confirmed it was launching an investigation into its massive data breach of up to 143 million American consumers.
William Lyon Homes was down 5.36% after the Paulson & Co hedge fund said it was looking to sell its share of the housebuilder, while home goods retailer Bed Bath & Beyond was under the cosh, falling 1.67% after a price target cut from UBS.
Apple was 0.86% softer as further details on its new iPhone smartphone range were released.
Dow Jones - Risers
United Technologies Corp. (UTX) $113.14 2.59%
Pfizer Inc. (PFE) $35.73 1.91%
Boeing Co. (BA) $245.23 1.36%
Johnson & Johnson (JNJ) $134.27 1.31%
Merck & Co. Inc. (MRK) $66.12 1.02%
3M Co. (MMM) $211.70 0.93%
Caterpillar Inc. (CAT) $120.51 0.71%
General Electric Co. (GE) $24.26 0.62%
Intel Corp. (INTC) $36.48 0.41%
Exxon Mobil Corp. (XOM) $80.09 0.40%
Dow Jones - Fallers
Coca-Cola Co. (KO) $46.09 -1.62%
Travelers Company Inc. (TRV) $119.96 -1.28%
Walt Disney Co. (DIS) $97.90 -0.93%
Apple Inc. (AAPL) $158.28 -0.86%
Microsoft Corp. (MSFT) $74.77 -0.59%
American Express Co. (AXP) $86.19 -0.52%
Home Depot Inc. (HD) $159.38 -0.40%
International Business Machines Corp. (IBM) $145.54 -0.31%
Unitedhealth Group Inc. (UNH) $197.67 -0.30%
Wal-Mart Stores Inc. (WMT) $79.75 -0.23%
S&P 500 - Risers
Tenet Healthcare Corp. (THC) $17.16 5.67%
Chesapeake Energy Corp. (CHK) $4.11 4.06%
First Solar Inc. (FSLR) $48.43 3.42%
Kimco Realty Corp. (KIM) $20.49 3.22%
Range Resources Corp. (RRC) $18.78 2.90%
EQT Corp. (EQT) $64.94 2.79%
United Technologies Corp. (UTX) $113.14 2.59%
Macerich Co (MAC) $55.79 2.39%
Federal Realty Inv Trust (FRT) $131.01 2.10%
Simon Property Group Inc. (SPG) $163.75 2.07%
S&P 500 - Fallers
Endo International Plc (ENDP) $8.62 -7.11%
Frontier Communications Co. (FTR) $12.92 -6.04%
Tiffany & Co. (TIF) $90.94 -4.77%
Henry Schein Inc. (HSIC) $161.15 -4.58%
Navient Corporation (NAVI) $13.78 -4.57%
Amerisource Bergen Corp. (ABC) $80.67 -4.31%
United States Steel Corp. (X) $25.61 -3.94%
CBS Corp. (CBS) $58.15 -3.90%
McKesson Corp. (MCK) $151.67 -3.81%
XL Group Ltd (XL) $39.24 -3.44%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $377.64 3.12%
Cerner Corp. (CERN) $71.94 2.03%
Applied Materials Inc. (AMAT) $47.05 2.02%
Discovery Communications Inc. Class A (DISCA) $21.48 1.32%
Xilinx Inc. (XLNX) $67.84 1.30%
Discovery Communications Inc. Class C (DISCK) $20.20 1.20%
Microchip Technology Inc. (MCHP) $89.24 1.02%
QUALCOMM Inc. (QCOM) $51.48 0.92%
Regeneron Pharmaceuticals Inc. (REGN) $441.26 0.80%
KLA-Tencor Corp. (KLAC) $97.46 0.74%
Nasdaq 100 - Fallers
Henry Schein Inc. (HSIC) $161.15 -4.58%
Incyte Corp. (INCY) $119.76 -3.10%
T-Mobile Us, Inc. (TMUS) $61.17 -2.60%
Charter Communications Inc. (CHTR) $376.00 -2.37%
Vertex Pharmaceuticals Inc. (VRTX) $153.38 -2.18%
Liberty Interactive Corporation - Series A Liberty Ventures (LVNTA) $58.76 -2.13%
Mylan Inc. (MYL) $32.87 -2.06%
Viacom Inc. Class B (VIAB) $27.36 -1.97%
Dentsply International Inc. (XRAY) $58.12 -1.72%
American Airlines Group (AAL) $46.19 -1.72%