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21 August 2017
 |
| U.S. stock markets (The Total Investment & Insurance Solutions) |
U.S. stock indexes were little changed in midday trading on Monday,
holding relatively steady following back-to-back losses for the Standard &
Poor's 500 index over the last two weeks.
The S&P 500 is close to its lowest level
in six weeks, but this week may be a calmer one for stocks with few
market-moving events approaching on the calendar. The highlight will likely
arrive as the weekend approaches, when central bankers from around the world
gather in Wyoming. The Total Investment
& Insurance Solutions
KEEPING SCORE: The S&P 500 flipped
between modest gains and losses through the morning. It was up nearly 2 points,
or 0.1 percent, at 2,427, as of noon Eastern time. The Dow Jones industrial
average gained 1 points, or less than 0.1 percent, to 21,676. The Nasdaq
composite fell 7 points, or 0.1 percent, to 6,210.
CALM CALENDAR: The beginning of this week may
be slow for markets. Earnings reporting season is almost over, and roughly 95
percent of companies in the S&P 500 have already said how much they earned
during the spring quarter. Few major economic reports are on deck, meanwhile.
A calm week may be welcome, following a
second straight, shaky week where the S&P 500 had its biggest one-day loss
in three months. Worries about politics, both domestic and international,
contributed to the nervousness. The S&P 500 has had two days in the last
two weeks where it's dropped by more than 1 percent. It's had only four for the
year so far, which is well below typical levels. The Total Investment & Insurance Solutions
ROCKY MOUNTAIN HIGH: This week's highlight
will likely be a mountain gathering in Jackson Hole, Wyoming, for central bankers,
economists and policy makers. Federal Reserve Chair Janet Yellen and European
Central Bank head Mario Draghi are both expected to speak at the symposium,
which begins Thursday and is hosted by the Fed's regional bank in Kansas City. The Total Investment & Insurance
Solutions
Tremendous stimulus from central banks has
been one of the main reasons for the stock market's surge since the Great
Recession. But the Federal Reserve is now slowly raising interest rates and
preparing to pare back the vast trove of bonds that it bought following the 2008
financial crisis. Investors are wondering when the European Central Bank may
follow suit. The Total Investment &
Insurance Solutions
Jackson Hole has been the site of
market-moving news in the past, including in 2010 when former Fed Chair Ben
Bernanke signaled the central bank may embark on another round of bond buying
to shore up the economy.
KOREA DRILLS: One wild card for markets may
lie in Asia, where U.S. and South Korean forces on Monday started their annual
joint military exercises. Tensions are higher than usual with North Korea, and
Pyongyang in the past has responded to the drills with weapons tests and a
string of belligerent rhetoric.
MARKETS ABROAD: In Asia, South Korea's Kospi
index dipped 0.1 percent, Japan's Nikkei 225 index fell 0.4 percent and the
Hang Seng in Hong Kong rose 0.4 percent.
In Europe, France's CAC 40 fell 0.5 percent,
Germany's DAX lost 0.8 percent and the FTSE 100 in London slipped 0.1 percent. The Total Investment & Insurance
Solutions
BENCHED AGAIN: Stocks of athletic-gear
companies sank a second straight day, and the 5.3 percent drop for Foot Locker
was one of the largest losses among companies in the S&P 500.
Shares tumbled across the industry on Friday
after both Foot Locker and Hibbett Sports said revenue fell last quarter. Under
Armour's Class A shares lost 3.4 percent Monday, and Nike fell 2.5 percent.
POWERED UP: Sempra Energy rose 1.3 percent
after saying it will buy Texas power-transmission company Oncor for $9.45
billion in cash. The deal snatches Oncor away from Warren Buffett's Berkshire
Hathaway, which last month said that it would buy the company for $9 billion. The Total Investment & Insurance
Solutions
YIELDS: Treasury yields fell. The yield on
the 10-year Treasury note dipped to 2.19 percent from 2.20 percent late Friday.
The two-year yield slipped to 1.30 percent from 1.31 percent, and the 30-year
yield fell to 2.77 percent from 2.78 percent. The Total Investment & Insurance Solutions
CURRENCIES: The dollar dipped to 108.87
Japanese yen from 109.26 yen late Friday. The euro rose to $1.1812 from
$1.1760, and the British pound rose to $1.2902 from $1.2876.
COMMODITIES: Benchmark U.S. crude fell 88
cents to $47.78 per barrel. Brent crude, the international standard, lost $1.12
to $51.60. The Total Investment &
Insurance Solutions
Natural gas rose 7 cents $2.97 per 1,000
cubic feet, heating oil fell 4 cents to $1.59 per gallon and wholesale gasoline
lost 4 cents to $1.58 per gallon. The
Total Investment & Insurance Solutions
Gold rose $4.00 to $1,295.60 per ounce, silver
rose 2 cents to $17.02 per ounce and copper gained 5 cents to $2.99 per pound.The Total Investment & Insurance
Solutions
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