{"id":83070,"date":"2020-10-06T20:37:00","date_gmt":"2020-10-06T17:37:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/"},"modified":"2020-10-06T20:37:00","modified_gmt":"2020-10-06T17:37:00","slug":"dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/","title":{"rendered":"#\n  Dow hangs onto gains as stocks trade mixed following Powell speech"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41256396c60\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41256396c60\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/#Jerome_Powell\" >Jerome Powell<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/#William_Watts\" >William Watts,<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/#and\" >and<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-hangs-onto-gains-as-stocks-trade-mixed-following-powell-speech\/#Sunny_Oh\" >Sunny Oh<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  Dow hangs onto gains as stocks trade mixed following Powell speech<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\">\n<\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000026431\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"inline\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          inline\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.640625%;\" data-mobile-ratio=\"66.640625%\" data-layout-ratio=\"66.640625%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-241110?width=140&amp;size=1.5005861664712778 140w,\nhttps:\/\/images.mktw.net\/im-241110?width=540&amp;size=1.5005861664712778 540w,\nhttps:\/\/images.mktw.net\/im-241110?width=620&amp;size=1.5005861664712778 620w,\nhttps:\/\/images.mktw.net\/im-241110?width=700&amp;size=1.5005861664712778 700w,\nhttps:\/\/images.mktw.net\/im-241110?width=860&amp;size=1.5005861664712778 860w,\nhttps:\/\/images.mktw.net\/im-241110?width=1260&amp;size=1.5005861664712778 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-241110?width=620&amp;size=1.5005861664712778\" data-enlarge=\"https:\/\/images.mktw.net\/im-241110?width=1260&amp;size=1.5005861664712778\" alt=\"\" title=\"Jerome Powell\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\">\n<h4 class=\"wsj-article-caption-content\"><span class=\"ez-toc-section\" id=\"Jerome_Powell\"><\/span>Jerome Powell<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>      <span class=\"wsj-article-credit article__inset__image__caption__credit\" itemprop=\"creator\"><br \/>\n            Eric Baradat\/Agence France-Presse\/Getty Images<br \/>\n          <\/span><br \/>\n  <\/figcaption><\/figure>\n<\/div>\n<p>       U.S. benchmark stock indexes were trading little changed on Tuesday after Federal Reserve Chairman Jerome Powell repeated his call for additional fiscal stimulus to support the economy, arguing it would be better for Congress to risk doing too much rather than too little.<\/p>\n<p> <strong>What are major benchmarks doing?<\/strong><\/p>\n<div class=\"paywall\">\n       The Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.39%<\/bg-quote><br \/>\n       was up 109 points, or 0.4%, near 28,258, while the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"positive\">+0.22%<\/bg-quote><br \/>\n       was up 8 points, or 0.2%, at 3,417. The Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"negative\">-0.05%<\/bg-quote><br \/>\n       fell around 10 points, or 0.1%, to 11,322.<\/p>\n<p>The Dow on Monday rose 465.83 points or 1.7% to finish at 28,148.64, while the S&amp;P 500 rose 60.19 points, or 1.8%, to close at 3,408.63. The Nasdaq finished at 11,332.49, up 257.47 points, or 2.3%.<\/p>\n<p><strong>What\u2019s driving the market?<\/strong><\/p>\n<p>In a speech to the National Association of Business Economics, Powell repeated that the U.S. economy needs more fiscal support even though the recovery from the \u201cnatural disaster\u201d of the coronavirus pandemic so far has been strong.<\/p>\n<p>Investors remain focused on long-stalled talks between the Trump administration and congressional Democrats on another round of coronavirus aid spending. Fears the economic recovery from the pandemic-induced near-shutdown earlier this year could stall without another round of fiscal support have been on the rise.<\/p>\n<p>Crunchtime is <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching for a fiscal deal, said Tom Plumb, portfolio manager of the Plumb Balanced Fund, in an interview. A plea Monday by management of Southwest Airlines<br \/>\n        LUV,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201071949\/composite\" class=\"positive\">+1.76%<\/bg-quote><br \/>\n       to union workers to make sacrifices due to the inaction of the federal government was a \u201cshot across the bow,\u201d Plumb said.<\/p>\n<p>As traditionally well-managed companies suffer, the potential for mass layoffs and other hardship come more sharply into focus, he said. <\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Shares in Cineworld<br \/>\n        CINE,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206525056\/delayed\" class=\"positive\">+10.31%<\/bg-quote><br \/>\n       plunged 57% on Monday, after the world\u2019s second-largest movie chain confirmed it will temporarily close its cinemas in the U.K. and the U.S., putting 45,000 jobs at risk. <\/p>\n<p>House Speaker Nancy Pelosi, D-California, told Democratic congressional leaders late Monday that stimulus talks with Treasury Secretary Steven Mnuchin were going \u201cvery slowly,\u201d <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.politico.com\/newsletters\/playbook\/2020\/10\/06\/trumps-closing-argument-490531\" class=\"icon none\">Politico reported<\/a>. Pelosi and Mnuchin are scheduled to speak again Tuesday, the report said.<\/p>\n<p>Stocks logged strong gains on Monday, tied in part to rising optimism over another round of coronavirus aid spending, bouncing back after stocks fell Friday following President Donald Trump\u2019s COVID-19 diagnosis and hospitalization. Trump late Monday left Walter Reed Medical Center after a three-night stay. Trump\u2019s doctors said the president wasn\u2019t \u201cout of the woods\u201d but that his condition had improved. <\/p>\n<p><strong>Read: <\/strong>Trump tweets \u2018don\u2019t be afraid of COVID,\u2019 sparking heated <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> exchanges<\/p>\n<p>In economic data, the U.S. trade deficit climbed almost 6% in August to $67.1 billion, the third widest gap on record, reflecting a continuing struggle by American exporters to recover all the ground lost in the early stages of the coronavirus pandemic. Economists polled by MarketWatch has forecast a $66.7 billion trade gap.<\/p>\n<p> Hiring and job openings in the private sector fell in August in a sign the U.S. labor market was cooling off as an economic recovery lost some of its earlier momentum, a government survey showed. <\/p>\n<p>Philadelphia Fed President Patrick Harker, Atlanta Fed Raphael Bostic  and Dallas Fed President Robert Kaplan  are also slated to makes speeches Tuesday.<\/p>\n<p><strong>See<\/strong>: Trump\u2019s coronavirus recovery, stimulus hope, election clarity: What\u2019s really driving the market? <\/p>\n<p><strong>Which companies are in focus?<\/strong><\/p>\n<ul class=\"articleList\">\n<li>\n      <strong>Southwest Airlines<\/strong> shares<br \/>\n        LUV,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201071949\/composite\" class=\"positive\">+1.76%<\/bg-quote><br \/>\n       were up 1.9% after its call for union concessions.<\/p>\n<\/li>\n<li>\n      <strong>Boeing Co.<\/strong><br \/>\n        BA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208579720\/composite\" class=\"negative\">-2.75%<\/bg-quote><br \/>\n       shares dropped 2.2% after the aircraft maker forecast an 11% drop in demand for commercial planes in the next decade and, in a separate outlook for the commercial aviation market, said it sees passenger-traffic growth to increase by an average of 4% a year in the next two decades. <\/p>\n<\/li>\n<li>\n      <strong>Apple Inc. <\/strong><br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"negative\">-1.29%<\/bg-quote><br \/>\n       announced it would hold an online event on Oct. 13 that\u2019s expected to bring the launch of its new family of iPhones. Shares were down 0.9%.<\/p>\n<\/li>\n<li>\n      Shares of <strong>Alexion Pharmaceuticals Inc.<\/strong><br \/>\n        ALXN,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/206262068\/composite\" class=\"positive\">+0.95%<\/bg-quote><br \/>\n       were up 0.7%, after the biopharmaceutical company said it expected to raise its 2020 revenue guidance by more than $200 million, when it reports third-quarter results.<\/p>\n<\/li>\n<li>\n       Shares of <strong>Sonos Inc<\/strong>.\u00a0SONO are off 5% after\u00a0<a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-05\/apple-stops-selling-rival-earphones-speakers-ahead-of-launches?sref=Oeyjq8by\" class=\"icon none\">a Bloomberg report<\/a>\u00a0highlighted that Apple Inc.\u00a0AAPL is no longer selling the company\u2019s speakers in its stores.<\/p>\n<\/li>\n<\/ul>\n<p><strong>What are other markets doing?<\/strong><\/p>\n<p>The yield on the 10-year Treasury note<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">0.781%<\/bg-quote><br \/>\n       rose 1.6 basis points to 0.778%. Yields and bond prices move in opposite directions.<\/p>\n<p>In global equities, Hong Kong\u2019s Hang Seng Index<br \/>\n        HSI,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598030\/delayed\" class=\"positive\">+0.89%<\/bg-quote><br \/>\n       rose 0.9%, while Japan\u2019s Nikkei 225<br \/>\n        NIK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210597971\/delayed\" class=\"positive\">+0.52%<\/bg-quote><br \/>\n       gained 0.5%. The pan-European Stoxx 600 Europe<br \/>\n        SXXP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599654\/delayed\" class=\"positive\">+0.06%<\/bg-quote><br \/>\n       and London\u2019s FTSE 100<br \/>\n        UKX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598409\/delayed\" class=\"positive\">+0.11%<\/bg-quote><br \/>\n       each rose 0.1%.<\/p>\n<p>Gold edged higher, with the December contract<br \/>\n        GOLD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201432642\/composite\" class=\"negative\">-2.08%<\/bg-quote><br \/>\n       off 0.5% on Comex. Oil futures added to big gains scored on Monday, with the U.S. benchmark<br \/>\n        CL.1,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/211629951\/delayed\" class=\"positive\">+3.08%<\/bg-quote><br \/>\n       up more than 2%.<\/p>\n<p>The greenback is flat for the day based on trading in the ICE U.S. Dollar Index.<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"positive\">+0.01%<\/bg-quote><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"William Watts\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"William_Watts\"><\/span>William Watts,<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"and\"><\/span> and<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Sunny Oh\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Sunny_Oh\"><\/span>Sunny Oh<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener noreferrer\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21004575-02D4-D4B5-4572-D673F570F77C%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dow hangs onto gains as stocks trade mixed following Powell speech &#8221; Jerome Powell Eric Baradat\/Agence France-Presse\/Getty Images U.S. benchmark stock indexes were trading little changed on Tuesday after Federal Reserve Chairman Jerome Powell repeated his call for additional fiscal stimulus to support the economy, arguing it would be better for Congress to risk&#8230;<\/p>\n","protected":false},"author":1,"featured_media":83071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-83070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/83070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=83070"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/83070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/83071"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=83070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=83070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=83070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}