Dow futures fall more than 80 points as wild market swings continue

16 February 2018, 02:41 | Andres Norman

The Wall Street subway stop on Broadway in New York's Financial District is seen in 2014. AP FILE

The Wall Street subway stop on Broadway in New York's Financial District is seen in 2014

At 3:14 p.m. ET, the Dow Jones Industrial Average rose 556.43 points, or 2.3 percent, to 24,747.33, the S&P 500 gained 51.28 points, or 1.96 percent, to 2,670.83 and the Nasdaq Composite added 144.62 points, or 2.1 percent, to 7,019.11.

Thursday's decline followed the largest drop in the Dow's history on Monday when it fell 1,175 points or 4.6 percent.

Telecom, utilities and financial stocks also saw considerable strength, contributing to the higher close by the broader markets.

Declining issues outnumbered advancers on the NYSE by 1,830 to 714.

On a day of heavy trading in healthcare companies, Henry Schein (HSIC.O) and Patterson Companies (PDCO.O) fell 6.64 percent and 5.19 percent, respectively, after news of a U.S. Federal Trade Commission complaint against the dental supply firms.

Friday's session marked the latest day of sharp swings in the past week that have pulled stocks lower after a steady climb for months to record highs. The U.S. consumer-price index will be released January and may reveal the extent the tighter jobs market is creating inflation. A stronger-than-expected number could trigger another leg down in the markets.

The benchmark S&P 500 finished with growth of 1.4% to 2,656.00 points, and the raw materials and information technology sectors performed best.

Yoel Romero Viciously Puts Luke Rockhold To Sleep With Brutal Punches
However, several medical issues forced Whittaker off the card, forcing UFC officials to book Rockhold against Romero instead. It was close to even through two rounds before Romero dropped Rockhold with a left hand behind the ear early in the third.

Four-goal Aguero runs riot as Man City rout Leicester
The Argentina global hopes City can continue their good form and hold on to their place at the top of the table . The half ended with City in the ascendancy with Aguero , Sterling and Ilkay Gundogan all having shots on goal .

UK climate: Half time period washout with rain, sleet and snow
Three warnings are now in place as the wind caution, which was issued yesterday, will affect Munster, Leinster and Galway. A snow-ice warning is in place for the whole country for later tonight and Sunday , with snowfall of up to 3cm expected.

The S&P 500 increased 22.82 points, or 0.87 per cent, to 2,642.37.

Investors will watch U.S. inflation and retail sales figures on Wednesday particularly closely as they review monthly reports from the U.S. Department of Labor and the National Retail Federation.

The market took fright after strong wage-growth data on February 2 raised the specter of rising inflation and fears of accelerated interest rate hikes, which ignited a rally in bond yields and a sell-off in stocks. "I don't think that's going away any time soon", said Andre Bakhos, managing director at New Vines Capital in Bernardsville, New Jersey. Some £147bn was wiped off the leading United Kingdom stock index in the past two weeks volatality, while over $5 trillion has been wiped from global stock markets since January 26, according to S&P Dow Jones Indices. However, the Nasdaq was still holding onto this year's gains of 1.4 percent at the close of yesterday's session.

Twenty-First Century Fox picked up 67 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer. The beverages and snacks company also hiked its dividend and unveiled a new shares buyback program.

The Dow Jones Industrial Average climbed more than 400 points Monday, extending the recovery that began Friday after the stock market's lowest performing week in two years.

In London, the FTSE 100 was 15 points higher to 7,192 in intraday action, while Japan's Nikkei 225 shed 138 points to 21,244 overnight.

Benchmark U.S. crude gained 9 cents to $59.29 a barrel in NY.



Other News

Trending Now

Choi Soon-sil jailed 20 years for corruption
In a text message, Lotte said it was "miserable" that its chief had been unexpectedly jailed, leaving a leadership vacuum. It should be noted that Choi has a close relation with Park during her term.

Google Pixel sales still no match for iPhone, Galaxy S series
That means, as a rough estimate, it would take less than a week of iPhone sales to eclipse Google's entire 2017 Pixel shipments. As hinted above, Google could have more success in attracting consumers by expanding the availability of the Pixel line.

Instagram May Start Ratting On You If You Screenshot Someone's Story
But suppose you have no ability to feel shame and continue to take screenshots anyway. Another workaround that'll avoid the feature involves using an internet browser.

Former Celtic, Manchester United midfielder Liam Miller dies aged 36
Former teammate Ferdinand added: "Waking up to the news that my old @ManUtd teammate Liam Miller passed away". The wider world of football and sport paid tribute including Fifa, Rangers and Munster Rugby.

Real life heroes star in Clint Eastwood French attack movie
Stone, who moments before had been dozing, charged down the train aisle as El-Khazzani levelled an assault rifle at him. In a stroke of luck, the attacker's AK-47 had jammed and he had accidentally dropped the magazine from his pistol.

5-star CB Tyson Campbell commits for 2018
No, that honor belongs to his Tennessee hat-fake out that ended with a Vols cap being flung across the room . USF and Mizzou also had their accounts churning out welcome tweets within an hour of the shutdowns.

Brexit 'technical talks' deal with Northern Eire
The 8% figures for "no deal" was said to amount to Scotland's economy being £12.7bn a year worse off. By comparison, London would sustain just a 3.5% hit to growth in a no deal scenario.

Hot tea ups esophageal cancer risk in smokers, drinkers
Participants who drank tea on a weekly basis were asked to describe its temperature as "warm", "hot" "or "burning hot". However, a recent study shows that in smokers and alcohol drinkers hot tea can cause esophageal cancer much faster.

Japanese stocks plunge 4% after Wall St sell-off
The yen attracted purchases as a safe-haven currency following sharp falls in NY and Tokyo equities, currency traders said. By early afternoon in Asia, Dow and S&P futures were both down more than 4 percent, suggesting a weak open for US markets.

N.Korea lambasts new United States nuclear strategy
We are sounding the alarm over South Korea Ambassador vacancy; Warning of significant risk of preemptive strike against North Korea.