US close: Stocks mixed as investors look towards FOMC
Wall Street finished mixed on Monday as worries about North Korea receded with investors looking ahead to the latest policy announcement from the Federal Reserve on Wednesday.
Dow Jones I.A.
37,775.38
04:30 15/10/20
Nasdaq 100
17,394.31
12:15 18/04/24
The Dow Jones Industrial Average ended the session 0.28% higher at 22,331.35 and the S&P 500 was ahead 0.15% at 2,503.87, while the Nasdaq 100 lost 0.11% to 5,981.12.
On Friday, US stocks notched further all-time highs, with the S&P 500 closing above 2,500 for the first time.
The Fed will conclude its two-date policy meeting on Wednesday. Although no change is expected to interest rates, the US central bank is expected to start laying the foundations to unwind its $4.5trn balance sheet.
“The Fed will leave rates unchanged this month but the real interest for investors is whether they will announce their intention to start normalising their balance sheet by not reinvesting the profits from their bond purchases,” said Konstantinos Anthis at ADS Securities.
“Taking this step would count as a policy tightening initiative - as the Fed would reduce the amount of money they spent on asset purchases - and would further highlight their bullish view over the progress of the economy.
"Furthermore investors and speculators will be equally interested to hear what Fed Chairwoman Janet Yellen has to say about the prospect of another rate hike before the year is out.”
In corporate news, Northrop Grumman and Orbital ATK were in the spotlight after the former announced an agreement to buy its rival in a deal valued at around $7.8bn or $9.2bn if debt is included, for a 22% premium.
Shares in Northrop Grumman were ahead 3.35%, and Orbital ATK stock surged 20.18%.
Teva Pharmaceuticals was also in the news, finishing 6.13% lower after saying it would sell its women's health assets for $1.38bn in order to reduce its debt pile.
Dow Jones - Risers
General Electric Co. (GE) $24.46 2.21%
Caterpillar Inc. (CAT) $123.83 2.03%
Boeing Co. (BA) $253.12 1.64%
JP Morgan Chase & Co. (JPM) $92.92 1.42%
Goldman Sachs Group Inc. (GS) $227.39 1.03%
American Express Co. (AXP) $87.87 1.01%
Johnson & Johnson (JNJ) $135.38 0.69%
Pfizer Inc. (PFE) $35.54 0.54%
Chevron Corp. (CVX) $115.19 0.49%
Verizon Communications Inc. (VZ) $48.09 0.48%
Dow Jones - Fallers
Apple Inc. (AAPL) $158.67 -0.76%
Nike Inc. (NKE) $53.49 -0.69%
Wal-Mart Stores Inc. (WMT) $80.00 -0.47%
Visa Inc. (V) $104.83 -0.45%
Walt Disney Co. (DIS) $98.10 -0.43%
Home Depot Inc. (HD) $157.81 -0.37%
United Technologies Corp. (UTX) $112.77 -0.27%
Merck & Co. Inc. (MRK) $65.99 -0.26%
Microsoft Corp. (MSFT) $75.16 -0.20%
International Business Machines Corp. (IBM) $144.55 -0.19%
S&P 500 - Risers
CF Industries Holdings Inc. (CF) $35.10 6.72%
Southwestern Energy Co. (SWN) $6.03 4.15%
Nvidia Corp. (NVDA) $187.55 4.13%
NRG Energy Inc. (NRG) $23.84 3.97%
Northrop Grumman Corp. (NOC) $275.91 3.35%
Range Resources Corp. (RRC) $19.15 3.24%
Mosaic Company (MOS) $21.31 3.15%
Huntington Bancshares Inc. (HBAN) $13.09 2.59%
Lam Research Corp. (LRCX) $177.31 2.50%
Parker-Hannifin Corp. (PH) $173.62 2.32%
S&P 500 - Fallers
Mattel Inc. (MAT) $14.87 -6.24%
Tenet Healthcare Corp. (THC) $15.71 -6.04%
Bed Bath & Beyond Inc. (BBBY) $27.30 -4.78%
Frontier Communications Co. (FTR) $12.52 -4.57%
First Solar Inc. (FSLR) $48.54 -3.79%
Chipotle Mexican Grill Inc. (CMG) $301.74 -3.58%
CenturyLink Inc. (CTL) $18.32 -3.48%
Signet Jewelers Ltd (SIG) $67.47 -3.23%
Cerner Corp. (CERN) $69.31 -3.04%
Endo International Plc (ENDP) $8.34 -3.02%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $293.30 8.20%
Nvidia Corp. (NVDA) $187.55 4.13%
Lam Research Corp. (LRCX) $177.31 2.50%
Mercadolibre Inc. (MELI) $289.75 2.49%
KLA-Tencor Corp. (KLAC) $100.91 2.30%
Micron Technology Inc. (MU) $35.43 2.25%
Xilinx Inc. (XLNX) $69.70 2.00%
Idexx Laboratories Inc. (IDXX) $162.10 1.97%
Applied Materials Inc. (AMAT) $48.05 1.93%
Baidu Inc. (BIDU) $239.07 1.64%
Nasdaq 100 - Fallers
Mattel Inc. (MAT) $14.87 -6.24%
Cerner Corp. (CERN) $69.31 -3.04%
Tractor Supply Company (TSCO) $61.35 -2.87%
Discovery Communications Inc. Class A (DISCA) $21.32 -2.83%
Discovery Communications Inc. Class C (DISCK) $20.14 -2.42%
Henry Schein Inc. (HSIC) $80.89 -2.40%
Twenty-First Century Fox Inc Class B (FOX) $26.03 -2.33%
Liberty Global Plc Lilac Class A (LILA) $24.43 -2.16%
Alexion Pharmaceuticals Inc. (ALXN) $143.64 -2.08%
Liberty Global Plc Lilac Class C (LILAK) $23.99 -2.04%