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US stocks fell a day after the Federal Reserve announced its first interest rate hike since 2008 and China pledged support for its real estate and internet industries.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 34080.4 | +17.30 | +0.05% |
| SP500 | S&P 500 | 4368.78 | +10.92 | +0.25% |
| Me: COMP | COMPOSITE INDEX NASDAQ | 13493.215181 | +56.66 | +0.42% |
All three major indexes fell in early trading, with the Nasdaq Composite leading the way with a 0.5% drop.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| XLF | FINANCIAL SECTOR SPDR ETF | 38.43 | +1.05 | +2.81% |
| XLE | ENERGY SELECT SECTOR SPDR ETF | 71.50 | -0.32 | -0.45% |
Financial stocks rose faster while energy stocks rose.
Fed RAISES INTEREST RATES FOR THE FIRST TIME IN 3 YEARS
U.S. West Texas Intermediate (WTI) oil topped $100 a barrel, while Brent’s global benchmark reached $105.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES PETROLEUM FUND LP | 68.28 | -0.35 | -0.51% |
| BNO | UNITED STS BRENT OIL FD | 27.04 | -0.28 | -1.02% |
Gas prices fell a few cents to $4.28 per AAA.
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In stock news, Dollar General shares jumped after a 31% dividend increase to $0.55 after raising its full-year sales guidance. Retailers Williams-Sonoma and Signet Jewelers also rose after strong quarterly results.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| DG | DOLLAR GENERAL CORP. | 212.49 | -1.76 | -0.82% |
| VSM | WILLIAMS-SONOMA INC. | 162.12 | +9.51 | +6.23% |
| SIG | SIGNET JEWELERS LTD. | 75.16 | -2.68 | -3.44% |
Lockheed Martin shares attention to reports that the Pentagon may order fewer F-35 fighter jets, according to Bloomberg. On the other hand, Reuters reports that Germany is ordering more American missiles and drones.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| LMT | LOCKHEED MARTIN CORP. | 421.34 | -27.33 | -6.09% |
In terms of technology, Intel announced that it will invest $100 million in Ohio to develop semiconductor technologies, half of which will come from the company itself, and the remaining $50 million will come from a partnership with the US National Science Foundation. The education funding details followed the company’s January announcement that it was investing $20 billion in semiconductor manufacturing in Ohio in an effort to help alleviate a global shortage of chips that power everything from phones to cars and home appliances. This is the largest private sector investment in Ohio history.
| Ticker | Security | past | Change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORPORATION. | 46.63 | +1.82 | +4.06% |
On the economic calendar, the Labor Department reported 214,000 weekly jobless claims, little different from 227,000 the previous week. Ongoing claims, which track the total number of unemployed receiving benefits, have dropped to 1.419 million, well below pre-pandemic levels.
Meanwhile, housing data was very strong, with home builds up 6.8% in February to a seasonally adjusted 1.76 million. This is up from 1.638 million in January. Permits for future construction fell 1.9% to 1.859 million in February.
In addition, the Philadelphia Federal Reserve Manufacturing Index for eastern Pennsylvania, southern New Jersey and Delaware rose to 27.4.
And the Fed is to publish data on industrial production for February.
In cryptocurrencies, bitcoin held above the $40,000 level.
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Ken Martin and the Associated Press contributed to this report.