{"id":136332,"date":"2021-08-20T21:12:13","date_gmt":"2021-08-20T21:12:13","guid":{"rendered":"https:\/\/precoinnews.com\/?p=136332"},"modified":"2021-08-20T21:12:13","modified_gmt":"2021-08-20T21:12:13","slug":"wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/","title":{"rendered":"Wall Street rallies as Fed jitters wane, but ends down for the week"},"content":{"rendered":"

NEW YORK (Reuters) – Wall Street rallied to close sharply higher on Friday, closing a tumultuous week on easing concerns over whether the U.S. Federal Reserve could begin tightening its dovish monetary policy sooner than expected.<\/p>

Signage hangs over the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 19, 2021. REUTERS\/Andrew Kelly<\/figcaption>

While all three major U.S. indexes ended solidly green, all posted weekly losses after a steep mid-week sell-off pulled the S&P 500 and the Dow away from a string of record closing highs.<\/p>\n

\u201cTowards the beginning of the week you saw traders balancing their books ahead of the Fed statement,\u201d said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. \u201cAnd once the statement came out, you saw a bit of \u2018sell the rumor buy the news.\u2019\u201d<\/p>\n

Market-leading tech and tech-adjacent megacaps, which weathered the pandemic recession better than most, once again provided the biggest lift.<\/p>\n

Growth stocks were also given a boost by U.S. Treasury yields, which ended the week lower due to concerns the health crisis could be a longer than expected hindrance to economic revival.<\/p>\n

Announcements from a host of Asian nations that they are implementing drastic measures to curb the resurgence of COVID-19 due to the rise of the disease\u2019s highly contagious Delta variant, put a damper on stocks associated with economic re-engagement.<\/p>\n

Mixed economic data from the U.S. and China suggested the ongoing recovery from the most abrupt recession on record has passed its peak and lost some momentum.<\/p>\n

Market participants now look to next week\u2019s Jackson Hole Symposium in Wyoming, a gathering of major central bank leaders, for clues from Fed Chair Jerome Powell regarding the expected pace of recovery and the timeline for policy tightening.<\/p>\n

\u201cWe\u2019ve seen times in history where the Jackson Hole Symposium has drawn a lot of eyeballs but this year more so,\u201d Keator added. \u201cThe Fed might use this opportunity to communicate what their plan is going forward.\u201d<\/p>\n

The Dow Jones Industrial Average rose 225.96 points, or 0.65%, to 35,120.08, the S&P 500 gained 35.87 points, or 0.81%, to 4,441.67 and the Nasdaq Composite added 172.88 points, or 1.19%, to 14,714.66.<\/p>\n

All 11 major sectors of the S&P 500 ended the session higher, with tech stocks and utilities enjoying the largest percentage gains.<\/p>\n

Second-quarter reporting season has essentially run its course, with 476 of the companies in the S&P 500 having posted results. Of those, 87.4% have beaten consensus, according to Refinitiv data.<\/p>\n

Farm and construction equipment manufacturer Deere & Co beat quarterly profit expectations and raised its full year guidance due to robust demand. Still, its shares ended the session down 2.1%.<\/p>\n

Bristol-Myers Squibb advanced 1% after the U.S. Food and Drug Administration approved the drugmaker\u2019s cancer drug Opdivo.<\/p>\n

U.S.-listed shares of China-based tech-related companies oscillated market participants as they digested recent sell-offs resulting from Beijing\u2019s ongoing regulatory crackdown, which has wiped half a trillion dollars from Chinese markets this week.<\/p>\n

Alibaba Holding Group closed down 1.6%, while Tencent Music Entertainment Group, Didi Global and iQiyi Inc gained between 1.6% and 3.7%.<\/p>\n

Advancing issues outnumbered declining ones on the NYSE by a 2.37-to-1 ratio; on Nasdaq, a 2.21-to-1 ratio favored advancers.<\/p>\n

The S&P 500 posted 50 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 59 new highs and 200 new lows.<\/p>\n

Volume on U.S. exchanges was 8.72 billion shares, compared with the 9.21 billion average over the last 20 trading days.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK (Reuters) – Wall Street rallied<\/p>\n","protected":false},"author":3,"featured_media":136331,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nWall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"NEW YORK (Reuters) – Wall Street rallied\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-20T21:12:13+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Wall-Street-rallies-as-Fed-jitters-wane-but-ends-down-for-the-week.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/\",\"url\":\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/\",\"name\":\"Wall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-08-20T21:12:13+00:00\",\"dateModified\":\"2021-08-20T21:12:13+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business\",\"item\":\"https:\/\/precoinnews.com\/category\/business\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Wall Street rallies as Fed jitters wane, but ends down for the week\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Wall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/","og_locale":"en_US","og_type":"article","og_title":"Wall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News","og_description":"NEW YORK (Reuters) – Wall Street rallied","og_url":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/","og_site_name":"Pre Coin News","article_published_time":"2021-08-20T21:12:13+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/08\/Wall-Street-rallies-as-Fed-jitters-wane-but-ends-down-for-the-week.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/","url":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/","name":"Wall Street rallies as Fed jitters wane, but ends down for the week - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-08-20T21:12:13+00:00","dateModified":"2021-08-20T21:12:13+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/business\/wall-street-rallies-as-fed-jitters-wane-but-ends-down-for-the-week\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Business","item":"https:\/\/precoinnews.com\/category\/business\/"},{"@type":"ListItem","position":3,"name":"Wall Street rallies as Fed jitters wane, but ends down for the week"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/136332"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=136332"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/136332\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/136331"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=136332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=136332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=136332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}