Martes 15/09/20 Producción industrial

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AST CHG %CHG
DJIA 28100.09 106.76 0.38
S&P 500 3412.45 28.91 0.85
Nasdaq Composite 11216.54 159.89 1.45
Japan: Nikkei 225 23454.89 -104.41 -0.44
UK: FTSE 100 6105.54 79.29 1.32
Crude Oil Futures 37.90 0.64 1.72
Gold Futures 1960.80 -2.90 -0.15
Yen 105.48 -0.25 -0.24
Euro 1.1850 -0.0012 -0.1

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LAST CHG %CHG
Crude Oil Futures 37.93 0.67 1.80
Brent Crude Futures 40.22 0.61 1.54
Gold Futures 1961.30 -2.40 -0.12
Silver Futures 27.365 0.010 0.04
DJIA Futures 27990 119 0.43
S&P 500 Futures 3405.00 32.80

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8:30 am Empire State index Sept. 17.0 -- 3.7
8:30 am Import price index Aug. 0.9% -- 1.2%
9:15 am Industrial production index Aug. 0.4% 0.5% 3.5%
9:15 am Capacity utilization rate Aug. 71.4% 70.9% 71.1%
10 am Real median household income 2019 $68,703 -- $64,324
10 am Poverty rate (supplemental rate) 2019 11.7% -- 12.8%
10 am Uninsured rate (health insurance) 2019 8.0%

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LAST CHG %CHG
DJIA 28062.64 69.31 0.25
S&P 500 3403.70 20.16 0.60
Nasdaq Composite 11194.48 137.83 1.25
Japan: Nikkei 225 23454.89 -104.41 -0.44
UK: FTSE 100 6105.54 79.29 1.32
Crude Oil Futures 38.24 0.98 2.63
Gold Futures 1962.90 -0.80 -0.04
Yen 105.46 -0.27 -0.25
Euro 1.1848

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LAST CHG %CHG
DJIA 27998.53 5.20 0.02
S&P 500 3397.83 14.29 0.42
Nasdaq Composite 11164.15 107.50 0.97
Japan: Nikkei 225 23454.89 -104.41 -0.44
UK: FTSE 100 6105.54 79.29 1.32
Crude Oil Futures 38.35 1.09 2.93
Gold Futures 1963.10 -0.60 -0.03
Yen 105.45 -0.28 -0.27
Euro 1.1848 -0

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LAST CHG %CHG
DJIA 27995.60 2.27 0.01
S&P 500 3401.20 17.66 0.52
Nasdaq Composite 11190.32 133.67 1.21
Japan: Nikkei 225 23454.89 -104.41 -0.44
UK: FTSE 100 6105.54 79.29 1.32
Crude Oil Futures 38.28 1.02 2.74
Gold Futures 1961.50 -2.20 -0.11
Yen 105.44 -0.29 -0.27
Euro 1.1848

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LAST CHG %CHG
DJIA 28032.38 36.78 0.13
S&P 500 3385.49 -15.71 -0.46
Nasdaq Composite 11050.47 -139.85 -1.25
Japan: Nikkei 225 23475.53 20.64 0.09
UK: FTSE 100 6078.48 -27.06 -0.44
Crude Oil Futures 40.16 1.88 4.91
Gold Futures 1965.70 -0.50 -0.03
Yen 104.98 -0.47 -0.44
Euro 1

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Dow rises slightly as Fed pledges to keep rates low, tech stocks weigh on broader S&P 500
PUBLISHED TUE, SEP 15 20206:04 PM EDTUPDATED 11 MIN AGO
Fred Imbert
@FOIMBERT
Maggie Fitzgerald
@MKMFITZGERALD
WATCH NOW
VIDEO02:59
Fed leaves rates unchanged in its last meeting before the 2020 presidential election
The S&P 500 gave up its earlier gains on Wednesday, with major tech shares dropping, after the Federal Reserve indicated it will keep interest rates lower over the next few years.

The broader market index was down 0.1% in the final hour of trading. The Nasdaq Composite hit its session low, falling 0.8%. The Dow Jones Industrial Average was well off its high, trading just 106 points higher, or 0.4%.


Apple shares dropped more than 2.5%. Facebook slid 3.3%. Amazon and Netflix were down 1.4% and 2%, respectively. Alphabet slid about 1% and Microsoft dropped 1.4%. Gains in Goldman Sachs and JPMorgan Chase helped keep the Dow higher; the stocks were up 1.7% and 0.5%, respectively.

The U.S. central bank kept interest rates near zero. Members of the Fed’s policymaking committee also indicated the overnight rate could stay near zero through 2023. “With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately above 2% for some time so that inflation averages 2% over time,” the Federal Open Market Committee said in a statement.

Fed Chairman Jerome Powell reiterated the central bank’s approach, telling reporters in a news conference: “We expect to maintain an accommodative stance of monetary policy until these outcomes, including maximum employment, are achieved.”

He also added: “With regard to interest rates, we now indicate that we expect it will be appropriate to maintain the current zero to 0.25% target range for the federal funds rates until labor market conditions have reached levels consistent with the committee’s assessments of maximum employment and inflation has risen to 2% and is on track to moderately exceed 2% for some time.”

The chairman also said certain areas of the economy will continue to struggle without further fiscal aid. That comment came after White House chief of staff Mark Meadows said he was optimistic about Democrats and Republicans reaching a coronavirus stimulus deal. President Donald Trump also signaled in a tweet that he would back a bigger package.
Republicans and Democrats have struggled to reach a deal on further stimulus, dwindling hopes of an agreement being struck before the U.S. presidential election in November.

“They’re in this for the long game,” said Tom Hainlin, global investment strategist at Ascent Private Capital Management. “They’ve been looking at the unemployment data and they know what they can do, but they can’t supplement fiscal policy.”

In corporate news, one of the hottest initial public offerings of 2020 opened for trading on Wednesday. Data storage software company Snowflake surged more than 100% in its public-market debut. The IPO was priced at $120 per share.

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Watch Fed Chair Powell discuss the central bank’s latest decision — with live updates & analysis
Thomas Franck
Federal Reserve Chairman Jerome Powell is speaking to reporters following the central bank’s September policymaking decision.


(No player above? Click here to fire up the YouTube stream and watch.)

The Federal Reserve announced on Wednesday that it will keep interest rates near zero for years until the U.S. economy heals from the effects of the Covid-19 pandemic and the labor market recovers. Fed Chairman Jerome Powell is speaking with reporters to discuss the central bank’s decision and answer questions.

37 MIN AGO
Powell’s press conference concludes

Federal Reserve Chairman Jerome Powell ended the press conference after speaking and answering questions for about one hour. — Thomas Franck


45 MIN AGO
Fed Chair Powell: We are not out of ammo

WATCH NOW
VIDEO03:27
We are certainly not out of ammo: Fed’s Powell
Asked if the only additional economic stimulus could come from Congress, Fed Chair Powell assured investors that the central bank had plenty of tools of its own to boost the economy.

“I certainly would not say that we’re out of ammo,” Powell said at the press conference following the FOMC statement. “Not at all.”

“First of all, we do have lots of tools, we’ve got the lending tools, we’ve got the balance sheet, we’ve got forward guidance. There’s still plenty more that we can do. We think that our rate policy stance is an appropriate to support the economy. We think its powerful....But again we have the other margins tat we can still use. So no, certainty we’re not out of ammo,” Powell added. — Maggie Fitzgerald

53 MIN AGO
Markets reverse course despite Fed announcement as tech struggles

U.S. equities markets lost momentum in afternoon trading despite initially rising to session highs after the Fed’s latest policy decision. Tech stocks sold off and led the S&P 500 into negative territory around 3:15 p.m. ET even as Fed Chairman Jerome Powell continued to outline easy monetary policy for the years ahead.

The Dow still traded about 100 points higher while the Nasdaq Composite lost 0.8%. Apple shed 2.1%, Microsoft lost 1.1% and Facebook slipped 3.2%. — Thomas Franck

1 HOUR AGO
Powell says almost all forecasters expect more stimulus from Congress

WATCH NOW
VIDEO02:34
More fiscal support likely to be needed: Fed’s Powell
Asked whether he thinks more fiscal stimulus from Congress is necessary to sustain the economic recovery, Powell said he thinks certain areas of the economy will continue to struggle without aid. He added that the vast majority of private forecasters anticipate substantial additional fiscal support.

“My sense is that more fiscal support is likely to be needed. Of course, the details of that are for Congress, not for the Fed. But I would just say there are roughly 11 million people still out of work due to the pandemic and good part of those people were working in industries that are likely to struggle. Those people may need additional support as they try to find their way through what will be a difficult time for them,” he said.

“So again, I would say the fiscal support has been essential in the good progress we see now and finally I’ll note just about all — the overwhelming majority — of private forecasters who project an ongoing recovery are assuming there will be substantial additional fiscal support,” Powell said. — Thomas Franck

1 HOUR AGO
Powell says Fed will keep rates low until inflation holds above 2% for ‘some time’

WATCH NOW
VIDEO01:42
Fed will let inflation rise ‘moderately for some time’: Fed’s Jerome Powell
Equities rallied to new session highs after Powell said the Fed will keep interest rates near zero until U.S. inflation rises above its 2% target for an unspecified duration of time.

“We expect to maintain an accommodative stance of monetary policy until these outcomes, including maximum employment, are achieved,” Powell said.

“With regard to interest rates, we now indicate that we expect it will be appropriate to maintain the current zero to 0.25% target range for the federal funds rates until labor market conditions have reached levels consistent with the committee’s assessments of maximum employment and inflation has risen to 2% and is on track to moderately exceed 2% for some time.”

The Dow rose after Powell’s comments, up about 350 points at session highs. The Fed slashed rates earlier in 2020 to help businesses cope with the impact of the Covid-19 pandemic. — Thomas Franck