Categories: world

Yahoo Finance Market Update: December 19, 2018

wait on the latest monetary policy decision from Federal Reserve officials. "data reactid =" 15 "> US. shares jumped as investors are waiting for the latest monetary policy decision by Federal Reserve officials. <p class = "canvas-atom canvas text Mb (1.0em) Mb (0) &#821 1; sm Mt (0.8em) type =" text "content =" S & P 500 ( ^ GSPC ]) rose 0.68%, or 17.27 points, at 11:15 ET. ) advanced 0.68% or 160.98 points, while Nasdaq ( ^ IXIC ) increased 0.6% or 40.47 points. "Data Reaction Time =" 16 "> S & P 500 (GSPC) rose 0.68%, or 17.27 points, starting at 11:15 am ET. Dow (^ DJI) advanced 0.68% or 160 , 98 points, while Nasdaq (^ IXIC) increased 0.6% or 40.47 points. <p class = "canvas-text 0) – sm Mt (0.8em) – sm" type = "text" content = "Federal Reserve officials will announce their latest monetary policy decision at the end of its two-day meeting Wednesday afternoon ET. Policy makers are expected to deliver this year's fourth price increase and raise the reference rate 25 points to a new range of 2.25% to 2.5%. CME Groups Fedwatch Tool shows the market price that gives a 74.9% likelihood of such a hike taking place from 11:16 ET. "Federal Reserve officials will announce their latest monetary policy decision at the end of their two-day meeting Wednesday afternoon ET. Policymakers are usually expected to deliver their fourth-rate increase of the year, raising the reference rate 25 points to a…

wait on the latest monetary policy decision from Federal Reserve officials. “data reactid =” 15 “> US. shares jumped as investors are waiting for the latest monetary policy decision by Federal Reserve officials.

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) &#821

1; sm Mt (0.8em) type =” text “content =” S & P 500 ( ^ GSPC ]) rose 0.68%, or 17.27 points, at 11:15 ET. ) advanced 0.68% or 160.98 points, while Nasdaq ( ^ IXIC ) increased 0.6% or 40.47 points. “Data Reaction Time =” 16 “> S & P 500 (GSPC) rose 0.68%, or 17.27 points, starting at 11:15 am ET. Dow (^ DJI) advanced 0.68% or 160 , 98 points, while Nasdaq (^ IXIC) increased 0.6% or 40.47 points.

<p class = “canvas-text 0) – sm Mt (0.8em) – sm” type = “text” content = “Federal Reserve officials will announce their latest monetary policy decision at the end of its two-day meeting Wednesday afternoon ET. Policy makers are expected to deliver this year’s fourth price increase and raise the reference rate 25 points to a new range of 2.25% to 2.5%. CME Groups Fedwatch Tool shows the market price that gives a 74.9% likelihood of such a hike taking place from 11:16 ET. “Federal Reserve officials will announce their latest monetary policy decision at the end of their two-day meeting Wednesday afternoon ET. Policymakers are usually expected to deliver their fourth-rate increase of the year, raising the reference rate 25 points to a new one range of 2.25% to 2.5%. The CME Group’s Fedwatch tool shows the market price that gives a 74.9% probability of such a migration taking place from 16.00 ET.

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) –sm Mt (0.8em) – sm” type = “text” content = “Obed Chairman Jerome Powell will hold a press conference at 19:30 ET at the end of the Federal Open Market in the December Committee (FOMC) meeting. Powell’s tone – along with the formulation of FOMC’s latest policy opinion – will help to provide details about the way forward for potential future interest rate hikes. These statements follow months of concern for the financial markets following the Fed decision to raise prices in September, with increased sensitivity among market actors to the exact rhetoric Federal officials used to characterize their future policy plans . “Data Reactor =” 18 “> Fed Chairman Jerome Powell holds a press conference at 2:30 pm ET at the end of December in the federal open market (FOMC). Powell’s tone – along with the formulation of FOMC’s latest policy opinion – comes to help provide details about the way forward for potential future rate hikes. These statements follow months of concern for the financial markets following the Fed’s decision to raise prices in September, with increased sensitivity among market participants to exact rhetoric. Fed officials used to characterize their future policy plans. [19659002] “We expect the message to be the Fed remains positive on the outlook and expects to raise interest rates further in the coming quarters but that the normalization rate is likely to slow down the next quarter from the last quarterly rate, as the road becomes more data-intensive analyst from Deutsche Bank in a note. “Because of this, the statement should change the forward-looking language by noting that gradual increase times are still appropriate in the short term.” “

Similarly, analysts from Nomura wrote that they expect the December meeting to mark a clear shift among FOMC members from” regular and predictable increases to a more “contingent” approach “against” disappointing data on growth and inflation tighter financial conditions, growing external risks and increased domestic political uncertainty. “

Bond yields on the long end of the yield curve ticked slightly lower than Wednesday morning before the decision. The yield on the 10-year government bond decreased 1.1 percentage points to 2.812 percent, while the return on 30-year government bonds was reduced by 3.6 percentage points to 3,441 percent.

STOCKAR: Two of the world’s largest drug manufacturers agree to combine consumer health businesses

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm “type =” text “content =” GlaxoSmithKline GSK GSK.L ) and Pfizer ( PFE ) will combine their consumer healthcare companies with a multibillion dollar merger. Together with the company’s household brands, including the Center, Advil, Tums, Excedrin and Nicorette, under a joint venture, said the two companies in statements . Global sales of merged companies amounted to $ 12.7. GSK will hold a majority holding stake of 68 percent in 2017. Pfizer will hold a 32 percent stake. GSK plans to separate the new consumer healthcare business and list it in London within three years. Shares in GSK increased by 5.49% to $ 39.14 at NYSE at 9:31 ET, while shares in Pfizer rose 0.52% to 42.64 dollars. GlaxoSmithKline (GSK, GSK.L) and Pfizer (PFE) will combine their consumer health policy e-business in a multibillion dollar concentration that brings together the company’s household brands, including GlaxoSmithKline (GSK, GSK.L) and Pfizer (PFE) Center, Advil, Tums, Excedrin and Nicorette, under a joint venture, both Global sales for the merged companies amounted to $ 12.7 billion in 2017. According to the agreement, GSK will hold a majority-controlling shareholding of 68% and Pfizer will have its own GSK plans to distinguish the new consumer healthcare sector and list it in London within three years. The shares in GSK increased by 5.49% to $ 39.14 at NYSE from 9:31 ET while shares in Pfizer rose 0 , 52% to $ 42.64 each.

Traders works on the New York Stock Exchange (NYSE) floor in New York, USA, December 14, 2018. REUTERS / Brendan McDermid

<p class = “canvas atom kanvastext Mb (1.0em) Mb FedEx ( FDX ) lowered its performance control and said that international operations were weakened. due to global trade considerations, overestimating a blow to earnings per share and revenue for the quarter. FedEx delivered adjusted earnings of $ 4.03 per share, 9 cents over consensus expectations and revenue of $ 17.8 billion, compared with $ 17.69 billion. But the company now expects to earn between $ 15.50 and $ 16.50 per share in fiscal 2019, under consensus estimates of $ 17.73 per share. Analyst at UBS raises FedEx price targets to $ 205 from $ 256 after quarterly earnings. Shares in FedEx fell 8.29% to 169.66 dollars per 9:31 ET. FedEx (FDX) lowered its performance management and said that international business weakened due to global trade FedEx delivered adjusted earnings of $ 4.03 per share, 9 cents over consensus expectations and a turnover of $ 17.8 billion, compared with $ 17.69 billion, and now expected to earn between $ 15.50 and $ 16.50 per share in fiscal 2019, under consensus estimates of $ 17.73 per share. UBS lowered FedEx price targets to $ 205 from $ 256 after quarterly earnings. FedEx shares dropped 8.29% to 169.66 dollars per 9.31 ET. [19659009] Story continues

Semiconductor Micron Technology ( MU ) missed Wall Street expectations on quarterly earnings and annou nced plans to reduce investments in the budget in 2019. The company rapp ranked $ 7.91 billion in quarterly earnings, barely estimated at $ 8.02 billion. However, revenue was better than expected with a penny, which came to $ 2.98 per share. Micron shares fell 6.83% to $ 31.78 per 9:32 ET. “Data Reaction =” 40 “> Semiconductor Micron Technology (MU) missed Wall Street expectations of quarterly earnings and announced plans to reduce investments in 2019. The company reported $ 791 billion in quarterly earnings, barely estimates of 8, $ 0.2 billion. However, earnings were better than expected with a penny and amounted to $ 2.98 per share. Micrones shares dropped 6.83% to $ 31.78 at 09:32 ET.

<p class = “canvas-atom kanvastext Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm” type = “text” content = ” Shares of milk delivery service Blue Apron ( APRN ) was closed under $ 1 for the first time on Tuesday, down more than 90% from the original public offer price of $ 10 per share in June 2017. The stock closed down by 11.17% to about 90 cents per share on Tuesday and hovering around that level from 9:32 AM ET Wednesday. Shares trading under $ 1 per share for more than 30 days are often delisted from the New York Stock Exchange. “Data Reaction =” 41 “> Blue Apron (APRN) milk delivery services closed under $ 1 for the first time on Tuesday, down more than 90% from its initial public offer price of $ 10 per share in June 2017. The stock closed below 11.17% to approximately 90 cents per share on Tuesday and swung around that level as at 9:32 am ET Wednesday. Shares under $ 1 per share for more than 30 days are often denoted from New York Stock Exchange.

ECONOMY: Mortgage applications decrease during the first week since mid November

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm” type = “text” content = ” Mortgage applications decreased by 5.8% the week ending December 14, reverses a 1.6% increase in applications for the week before, according to your Mortgage Bankers Association’s latest report . It was the first week that mortgage applications fell by 16 November. Purchases fell 6.8% for the week ending December 14 after an increase of 1.8% a week before, while refinancing fell 2.3% after rising 1.8% earlier. “Data Reaction =” 43 “> Mortgage applications decreased by 5.8% for the week ending December 14 and reversed a 1.6% application a week earlier, according to your Mortgage Bankers Association’s latest report. since November 16. Purchases fell 6.8% for the week ending December 14 after an increase of 1.8% a week before, while refinances fell 2.3% after rising 1.8% earlier.

p class = “canvas-atom canvas text Mb 1.0em) Mb (0) – sm Mt (0.8em) – sm” type = “text” content = “These results follow a report from Freddie Mac that shows that the 30- year fixed rate to 4.63% the minimum level of three months, for the week ending December 13th. “data-reactid =” 44 “> The result shows a report by Freddie Mac, showing that the 30-year fixed-rate benchmark did not fall to 4.63%, the lowest level of three months, for the week ending December 13.

“Although mortgage lending exceeds the week to its lowest levels of three months, mortgage lending also decreased, as more potential borrowers were likely to remain due to continued financial volatility and financial uncertainty,” said Joel Kan, MBA vice-president of economic and industrial forecasts. “Purchase applications declined almost 7% during the week and refinances decreased by about 2%, leading to a larger reduction in government finances compared with conventional refinances.”

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm” type = “text” content = ” Existing housing sales increased a second month in succession and peaked consensus expectations for November, according to the National Federation of Real Estate Agents. Sales of previously owned US homes increased to a seasonally adjusted interest rate of 5.32 million in November before tax of 5.2 million and in October read 5, 22 million existing home sales. Median existing housing prices for all home types rose 4.2% in November to $ 257,700. “Data Reaction Time =” 46 “> Existing housing sales increased for a second consecutive month and peaked consensus expectations for November, according to the National Association of Realtors. Sales of previously owned homes in the US increased to a seasonally adjusted interest rate of 5.32 million in November, before tax of 5.2 million and in October, 5.22 million existing home sales read. Median existing housing prices for all household types increased by 4.2% in November to $ 257,700.

“The data are volatile and the trend has gone down, but the report should reduce the fear of a major deterioration of housing in progress,” Jim O “Sullivan, the chief US economist for high-frequency economics, wrote in a comment Wednesday.

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck “data-reactid =” 48 “> Emily McCormick is a reporter for Yahoo Finance. McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

<p class = “canvas-atom canvas text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm” type = “text” content = ” Follow Yahoo Finance on Twitter & nbsp; Facebook & nbsp; Instagram & nbsp; Flipboard ] LinkedIn and & nbsp; reddit . & nbsp; “data-reactid =” 49 “> Follow Yahoo Finance on Twitter ] Facebook, Instagram, Flipboard, LinkedIn and Reddit.

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