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9 May 2017
U.S.Stocks (The Total Investment & Insurance
Solutions)
U.S. stock indexes bobbed a bit further into record territory Tuesday,
joining a smooth rise higher for markets around the world.
KEEPING SCORE: The Standard & Poor's 500
index ticked up by 3 points, or 0.1 percent, to 2,402, as of 10:48 a.m. Eastern
time. If it remains up for the day, it would mark the third straight session
where it's set an all-time high. The
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The Dow Jones industrial average rose 12
points, or 0.1 percent, to 21,026, and the Nasdaq composite rose 22 points, or
0.4 percent, to 6,124.
MARKETS ABROAD: European markets were mostly
higher, and the German DAX rose 0.5 percent. The CAC 40 in France gained 0.3
percent, and the FTSE 100 in London rose 0.6 percent.
Japan's Nikkei 225 index dipped 0.3 percent,
while the Hang Seng in Hong Kong jumped 1.3 percent. South Korean markets were
closed as votes headed to the polls to vote for president.
CHECKING IN: Marriott International jumped
$5.21, or 5.4 percent, to $101.58 after reporting stronger-than-expected
earnings for the latest quarter. The hotel operator cited improving trends
around the world, from North America to Europe to Asia. The Total Investment & Insurance Solutions
OFF THE LOT: Hertz Global Holdings sank
$2.62, or 17.6 percent, to $12.29 after reporting a larger loss for the last
quarter than analysts expected.
YIELDS RISE: Treasury yields rose as bond
prices dropped. The 10-year Treasury yield rose to 2.40 percent from 2.39
percent late Monday. It has been climbing since hitting a low of 2.17 percent
three weeks ago. The Total Investment
& Insurance Solutions
DIVIDEND PAYERS: When bond yields were
scraping close to their record lows last summer, the relatively big dividends
paid out by utility stocks, telecoms and real-estate investment trusts looked
particularly attractive. Now, with bonds beginning to pay more interest, demand
for dividends has dulled a bit. The
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Telecom stocks in the S&P 500 fell 0.7
percent, most among the 11 sectors that make up the index. Utilities and
real-estate stocks weren't far behind, both down 0.5 percent. Telecom stocks
have dropped nearly 11 percent this year, when the overall S&P 500 is up 7
percent.
EVERYONE REMAINS CALM: Markets have been
placid, as investors keep crossing off reasons to fear. Last week's jobs report
gave reassurance that the U.S. economy is improving despite its weak showing at
the start of the year, and companies have been turning in stronger profit
reports. This past weekend's presidential election in France also raised
confidence that voters may be turning their back on a nationalistic brand of
politics that could hurt global trade.
The market has become so calm that an index
used to measure fear among traders is close to its lowest in more than two
decades. The VIX volatility index on Monday hit its lowest closing level since
1993, and it held close to that level Tuesday. The Total Investment & Insurance Solutions
CURRENCIES: The euro fell to $1.0896 from
$1.0930 late Monday. The dollar rose to 114.07 Japanese yen from 113.07 yen,
and the British pound slipped to $1.2928 from $1.2943.
COMMODITIES: Benchmark U.S. crude fell 36 cents
to $46.07 per barrel. Brent crude, the international standard, slipped 39 cents
to $48.95 per barrel.
Natural gas rose 3 cents to $3.21 per 1,000
cubic feet, heating oil fell a penny to $1.45 per gallon and wholesale gasoline
slipped 1 cent to $1.51 per gallon.
Gold dipped $6.70 to $1,220.40 per ounce,
silver fell 10 cents to $16.16 per ounce and copper added a penny to $2.50 per
pound.The Total Investment &
Insurance Solutions
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