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2021-08-28

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S&P 500, Nasdaq nab all-time closing highs as Powell soothes taper fears

NEW YORK, Aug 27 (Reuters) - Wall Street rallied on Friday, pushing the S&P and the Nasdaq to record

S&P 500, Nasdaq nab all-time closing highs as Powell soothes taper fears

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The drawdowns are super shallow, and the recoveries are very fast.\"</p>\n<p>In his prepared remarks, Powell stopped short of providing a clearer picture regarding the timing of the central bank's tapering of asset purchases or hiking interest rates, the key elements of its dovish monetary policy aimed at helping the economy recover from the pandemic recession.</p>\n<p>Indeed, Powell appeared to strike a more dovish tone than other Federal Open Market Committee (FOMC) officials, including St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester, who said earlier in the day that they expect the tapering process to begin soon and wind down next year.</p>\n<p>\"The market is very happy that the Fed is pumping more liquidity into the economy every month,\" Zigmont added. \"The Fed is enabling asset prices to climb and the market is pleased with that.\"</p>\n<p>Economic data released on Friday delivered, in large part, precisely what economists expected - a pullback in consumer spending and sentiment due to the COVID-19 Delta variant, and signs that the current wave of price spikes will not morph into long term inflation, inline with Fed assurances.</p>\n<p>The Dow Jones Industrial Average rose 242.68 points, or 0.69%, to 35,455.8, the S&amp;P 500 gained 39.37 points, or 0.88%, to 4,509.37 and the Nasdaq Composite added 183.69 points, or 1.23%, to 15,129.50.</p>\n<p>Ten of the 11 major sectors of the S&amp;P 500 advanced, with energy shares enjoying the largest percentage gain.</p>\n<p>Chipmaker Nvidia's shares rose 2.6% after sources said it would likely seek antitrust approval from the European Union to take over British chip designer Arm.</p>\n<p><a href=\"https://laohu8.com/S/WDAY\">Workday</a> Inc jumped 9.1% as brokerages upped their price targets after the company beat second-quarter revenue estimates.</p>\n<p>Stay-at-home darling Peloton Interactive Inc slid 8.5% following its profit warning and its announcement it was being probed by U.S. regulators over an accident involving the safety of its treadmills.</p>\n<p>U.S.-listed shares of Alibaba Group and Tencent Music Entertainment fell 3.5% and 1.4%, respectively, while the Invesco Golden Dragon ETF dropped 1.1%.</p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 5.21-to-1 ratio; on Nasdaq, a 3.40-to-1 ratio favored advancers.</p>\n<p>The S&amp;P 500 posted 60 new 52-week highs and <a href=\"https://laohu8.com/S/AONE.U\">one</a> new low; the Nasdaq Composite recorded 132 new highs and 37 new lows.</p>\n<p>Volume on U.S. exchanges was 8.67 billion shares, compared with the 8.95 billion average over the last 20 trading days. </p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500, Nasdaq nab all-time closing highs as Powell soothes taper fears</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500, Nasdaq nab all-time closing highs as Powell soothes taper fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-28 04:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-p-500-nasdaq-201543085.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK, Aug 27 (Reuters) - Wall Street rallied on Friday, pushing the S&P and the Nasdaq to record closing highs for the fourth time this week, as U.S. Federal Reserve Chairman Jerome Powell's ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-p-500-nasdaq-201543085.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","COMP":"Compass, Inc.","OEF":"标普100指数ETF-iShares","SH":"标普500反向ETF","SDS":"两倍做空标普500ETF","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","OEX":"标普100","SSO":"两倍做多标普500ETF","IVV":"标普500指数ETF","SPXU":"三倍做空标普500ETF",".SPX":"S&P 500 Index","POWL":"Powell Industries"},"source_url":"https://finance.yahoo.com/news/us-stocks-p-500-nasdaq-201543085.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2162521078","content_text":"NEW YORK, Aug 27 (Reuters) - Wall Street rallied on Friday, pushing the S&P and the Nasdaq to record closing highs for the fourth time this week, as U.S. Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium calmed fears over the tapering timetable and sent investors into the weekend in a buying mood.\nAll three indexes posted weekly gains.\n\"I see two things happening,\" said Mike Zigmont, head of research and trading at Harvest Volatility Management in New York. \"I see a reflexive dip-buying validation and I see the market embracing a dovish Fed.\"\nRegarding the indexes' recent string of all-time highs, including the S&P 500's 52nd record high close so far this year, Zigmont said \"The march north has been very consistent. The drawdowns are super shallow, and the recoveries are very fast.\"\nIn his prepared remarks, Powell stopped short of providing a clearer picture regarding the timing of the central bank's tapering of asset purchases or hiking interest rates, the key elements of its dovish monetary policy aimed at helping the economy recover from the pandemic recession.\nIndeed, Powell appeared to strike a more dovish tone than other Federal Open Market Committee (FOMC) officials, including St. Louis Fed President James Bullard and Cleveland Fed President Loretta Mester, who said earlier in the day that they expect the tapering process to begin soon and wind down next year.\n\"The market is very happy that the Fed is pumping more liquidity into the economy every month,\" Zigmont added. \"The Fed is enabling asset prices to climb and the market is pleased with that.\"\nEconomic data released on Friday delivered, in large part, precisely what economists expected - a pullback in consumer spending and sentiment due to the COVID-19 Delta variant, and signs that the current wave of price spikes will not morph into long term inflation, inline with Fed assurances.\nThe Dow Jones Industrial Average rose 242.68 points, or 0.69%, to 35,455.8, the S&P 500 gained 39.37 points, or 0.88%, to 4,509.37 and the Nasdaq Composite added 183.69 points, or 1.23%, to 15,129.50.\nTen of the 11 major sectors of the S&P 500 advanced, with energy shares enjoying the largest percentage gain.\nChipmaker Nvidia's shares rose 2.6% after sources said it would likely seek antitrust approval from the European Union to take over British chip designer Arm.\nWorkday Inc jumped 9.1% as brokerages upped their price targets after the company beat second-quarter revenue estimates.\nStay-at-home darling Peloton Interactive Inc slid 8.5% following its profit warning and its announcement it was being probed by U.S. regulators over an accident involving the safety of its treadmills.\nU.S.-listed shares of Alibaba Group and Tencent Music Entertainment fell 3.5% and 1.4%, respectively, while the Invesco Golden Dragon ETF dropped 1.1%.\nAdvancing issues outnumbered declining ones on the NYSE by a 5.21-to-1 ratio; on Nasdaq, a 3.40-to-1 ratio favored advancers.\nThe S&P 500 posted 60 new 52-week highs and one new low; the Nasdaq Composite recorded 132 new highs and 37 new lows.\nVolume on U.S. exchanges was 8.67 billion shares, compared with the 8.95 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":466,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":36,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}