Markets Right Now: Stocks open lower on Wall Street

Click to Enlarge

The Dow Jones industrial average zoomed past the 21,000 mark for the first time on Wednesday as stocks resumed their record-setting rally.

United States stocks powered to fresh records on Wednesday (March 1), with the Dow topping 21,000 for the first time, after President Donald Trump struck a more conciliatory note in a major address Tuesday night.

The Dow Jones Industrial Average (DJI), an index of the share values of 30 large, established companies, jumped almost 1.5 percent between market close Tuesday and Wednesday afternoon, closing at around 21,112 points.

As more investors feared of risks that may follow after Trump's speech, the selling of shares from different assets and equities grew higher on fears of comments from Trump which would be against the market's wishes.

The Dow fell 19 points, or 0.1 percent, to 20,816.

The S&P 500 index gained 25.09 points to 2,388.73 while the tech-focused Nasdaq Composite index was up 53.44 points at 5,878.88. Nine months later, on October 19, 1987, the Dow plummeted more than 500 points, or about 22 percent, on what became known as Black Monday. The benchmark index finished February with its best monthly gain since March, climbing 3.7 percent.

The Trump Rally looks like it is back on again - at least for now.


Financial stocks surged 2.6 percent, the most since November 14. This is helping boost fellow defense stocks throughout the region, which are also higher after Trump promised a "historic increase" in military spending. "In summary, we did not learn much [on Tuesday] that would influence our economic outlook".

Rate hike hopes were on the rise after New York Fed President Bill Dudley told CNN's Richard Quest that the case for raising rates has become "a lot more compelling". Banks led gains among all industries.

But a CNN/ORC poll taken after the speech contended that almost 60 percent of Americans viewed President Trump's address favorably.

Wednesday's gains overshadowed the reported pricing of Snap Inc.at $17 per share, which would value the parent of the popular disappearing-message app Snapchat at nearly $24 billion and above the projected share range of $14 to $16. While Australia's trade surplus shrank unexpectedly in January, approvals to build new homes rose more-than-expected last week, separate reports showed. Investors sold off government bonds and sent the yield on the 10-year Treasury from 2.35% to 2.46%.

Crude oil prices were flat at about $54 a barrel.

"The markets saw a strong president, and they liked it", says Valliere.

"Sentiment keeps improving", McMillan said.

Related News:

  • Coyotes C Alex Burmistrov injured, taken off on stretcher vs. Bruins

    Coyotes C Alex Burmistrov injured, taken off on stretcher vs. Bruins

    Burmistrov, 25, is a 2010 first-round draft pick from Russian Federation who has one goal and 10 assists this season. Miller was ejected from the game for a major penalty and a game misconduct, even though the hit seemed clean.
    Is it time to panic about a new deal for Terrelle Pryor?

    Is it time to panic about a new deal for Terrelle Pryor?

    Jackson did say they are still looking to upgrade the position, but it doesn't seem to be the most pressing issue in Cleveland. The Cleveland Browns now hold the No. 1 pick in the 2017 NFL Draft , and there is still a chance they surprise all of us.
    SpaceX to send 2 passengers to moon in 2018

    SpaceX to send 2 passengers to moon in 2018

    Such a flight to the lunar neighborhood wouldn't happen before 2019 at best - if, indeed, that option is even implemented. There are the obvious costs: the spacecraft, the rocket, and the fuel.
  • Abuse survivor quits pope's child-protection panel over Vatican stonewalling

    Abuse survivor quits pope's child-protection panel over Vatican stonewalling

    He said they have had invitations to speak at different dicasteries and "we have already received new invitations". But others in the Vatican resisted the commission's work, Collins says, leading to " constant setbacks ".
    Spotify trialling Hi-Fi music tier, report claims

    Spotify trialling Hi-Fi music tier, report claims

    Some users have been greeted with a pop-up messaging alerting them the new service will soon be available for $5/month. Apple Music said it hit 20 million in December, adding 3 million subscribers in three months at that time.
    United States  drone strike in Syria kills top al-Qaeda leader

    United States drone strike in Syria kills top al-Qaeda leader

    According to Hisham al-Hashimi, a Baghdad-based writer on Islamic groups, Masri's death will be a serious blow to al-Qaeda. Al Qaida's second in command was killed in a USA drone strike in Syria on February 26, according to reports.
  • Mesothelioma Research One Focus of Rare Disease Day

    Mesothelioma Research One Focus of Rare Disease Day

    Lack of awareness and scientific knowledge in rare diseases often leads to misdiagnosis or late diagnosis and delayed treatment. That explains why 43% of individuals with a rare disease is treated only for symptoms, with inadequate care, for the most part.
    This Soccer Player Saved An Opponent's Life After A Vicious Collision

    This Soccer Player Saved An Opponent's Life After A Vicious Collision

    Kone was quick enough to realise what was going on and put his fingers in Berkovec's mouth to fish out his tongue. Berkovec wrote on his Facebook page .
    New Trump claims about deadly Yemen raid appear to be untrue

    New Trump claims about deadly Yemen raid appear to be untrue

    "This was a mission that was started before I got here", Trump stated. "According to General Mattis it was a very successful mission ".
  • Trump Set to Ditch Controversial Water Rule

    Trump Set to Ditch Controversial Water Rule

    Obama's Clean Power Plan. "I gather that this rule puts a huge percentage of the acreage in Florida under jurisdiction". Legal experts say it could take years for the Trump administration to dismantle the Waters of the usa rule.
    BMW Where Tupac Was Shot Now For Sale

    BMW Where Tupac Was Shot Now For Sale

    The 1996 BMW 750iL has been listed for sale by California memorabilia dealer Moments in Time , the Associated Press points out. The seller posted a listing for the auto online - complete with a series of new pictures of the 21-year-old cruiser.
    Xenophobic attacks: Senate names delegation to South Africa

    Xenophobic attacks: Senate names delegation to South Africa

    Abubakar Bukola Saraki, has nominated the Deputy Senate President, Ike Ekweremadu, to lead a Senate delegation to South Africa. We have been talking to you based on the report of the Senate committee with the Foreign Affairs Ministry in April, 2015.


Most liked

Former NAACP leader Rachel Dolezal gets new African name
Some photos create an impression of darker skin and emphasize her very curly, frequently braided or dreadlock-styled hair. Her Twitter name remains Rachel Anne Dolezal, and that is the byline on her book as well.

Oil Price Climbs As OPEC Members Stick To Production Cut
Rising output also helps explain the big increase in USA crude exports and the continued high level of domestic crude stocks. The market offered little reaction to news of a rise in North Sea crude supply next month.

BJP removes Bengal women's wing secretary after arrest in child trafficking case
A senior CID official said "We tracked her mobile tower location and based on that we found her at that spot and arrested her". Queried on the issue before Chowdhury's arrest, Ganguly shot back: "Why should I respond to what an accused has said?"

5 things to know about the 2017 NFL Combine
It should be expected both Mike Tomlin and Kevin Colbert will make an appearance at some of the more established college Pro Days. They have three picks in the fifth round, and one each in the first (22nd overall), second, third, sixth and seventh.

Wells Fargo Won't Pay $32M In Bonuses & Equity To Top Execs
WFC stock's price is now -1.91% down from its 52-week high and +34.92% up from its 52-week low. Shareholders of record on Friday, February 3rd will be paid a dividend of $0.38 per share.

President Trump's speech set Twitter record with 3 million tweets
Trump, in a suit with a blue and white striped tie, was flanked by House Speaker Paul Ryan and Vice President Mike Pence. In a departure from the norm, Donald Trump in his first address as President to Congress stayed on-script.

Best Buy sales fall below views; dividend raised
Excluding items, earnings came in at $1.95 per share, which beat analyst estimates of $1.67 per share. As a percentage of total online revenue increased 300 basis points to 18.6% versus 15.6% past year .

Pope Francis and Archbishop of Canterbury to Visit South Sudan?
The Catholic Pontiff disclosed this during a visit to Rome's Anglican church, to mark the 200th anniversary of its opening. Pope Francis added that such a visit would only be for a single day "because the situation is hard there".

Indianapolis Colts' Parry arrested for stealing golf cart, DUI in Scottsdale
Asked how much he had to drink, Parry told the officers "a lot" and "more than I should have been", according to the report. Indianapolis Colts defensive lineman David Parry was arrested in Scottsdale, Arizona, according to Scottsdale police .

How a Holocaust Historian Was Nearly Deported From the US
Rousso released a public statement on twitter saying, "Thank you so much for your reactions..." He was born in Cairo, Egypt, in 1954, but his family was expelled from Egypt two years later.

United Nations says 8000 flee west Mosul as Iraqi forces fight ISIL
A Reuters reporter saw several trucks teeming with people, lifting columns of sand and dust as they drove away from the city. Those still in Mosul have to face Daesh's strict rule along with a lack of basic goods and the danger from the fighting.

Why the iPhone 8 deserves USB-C
Beyond a new display, the same sources say Apple is planning other upgrades to differentiate the iPhone 8 from the iPhone 7. The same report also adds that the next iPhone "would also do away with a physical home button".

Microsoft Unveils $10 Monthly Gaming Subscription Service For Xbox One
When I saw the news this morning, I thought I perhaps had slept in until E3 - which (unfortunately) is still a few months away. You'll then have a window of 30 days to play the game offline, before you have to sign in again to continue to access it.

Russian Federation has 'heavy responsibility' after UN Syria veto
Kazakhstan, Egypt, Ethiopia abstained. "It was forced through to a vote while council members still have differences", he said. He added that, at the same time, the Syrian government's requests on the investigation are treated in a dismissive manner.

Blackberry "Mercury" goes official as BlackBerry KEYOne: Features, Specifications, Price revealed
And since there's a physical keyboard built-in, the entirety of the screen can stay dedicated to whatever you're looking at. A programmable BlackBerry Convenience Key allows quick access to various areas of the phone such as the camera.