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Stocks close up



U.S. stocks closed up Friday as possible stimulus measures in Europe and rising Bond earned up Wall Street's risk appetite.

Markets were anticipating the European Central Bank's intention to cut rates in September and resume a bond.

buying program, according to Reuters. And add Mexico as the latest country to cut interest rates overnight.

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The major European equity averages closed higher on expectations of monetary stimulus.

In the U.S. industrial shares helped lead gainers. Deere & Co., which missed quarterly profit estimates, said it was beginning to review its costs in a bid to reduce expenses and boost its bottom line. Investor

Ticker Security Last Change % Chg
DE DEERE & COMPANY 1
49.23
+5.52 + 3.84%
GE GENERAL ELECTRIC COMPANY 8.79 +0.78 + 9.74%
WAB WABTEC 66.62 +4.31 [19659016] + 6.92%

General Electric Shares Larry Culp bought nearly $ 2 million worth of shares in one and a half years.

Shares of Wabtec, a rail and transportation conglomerate, jumped.

Wall Street's risk-on The yield on the 10-year Treasury jumped to 1.55 percent. [19659909] [19659909] Change % Chg BAC BANK OF AMERICA CORP. 27.03 [19659015] +0.78 + 2.97% C CITIGROUP INC. 63.48 +2.16 + 3.52% JPM JP MORGAN CHASE & CO. 107.72 +2.52 + 2.40% WFC WELLS FARGO & COMPANY 44.39 +1.01 + 2.33%

On the economic front on Friday, the Commerce Department said US homebuilding fell for a third straight month in July amid a steep decline in the construction of multi-family housing units, but permits rose creating optimism. Housing starts dropped 4 percent to a seasonally adjusted annual rate of 1,191 million units last month.

yield curve – the difference between yields on the U.S. 10-year and 2-year Treasury bonds – inverted for the first time since 2007. It has historically been an accurate forecast of a recession.

The major. stock index spent much of the day reacting to big moves in U.S. government bond yields, which fell sharply in the early hours, fluctuated for much of the day, and then recovered some of their decline by mid-afternoon.

Stocks are more than 2.4 percent this week and are on course for their third consecutive losing week.

The US-China trade was has hammered American manufacturers and the world's largest economy could slip into a recession. Yet most analysts expect the U.S.

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Japan's Nikkei Hong Kong's Hang Seng added 0.9 percent and China's Shanghai Composite gained 0.3 percent.

The Associated Press contributed to this article.


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