Market Watch: Wall Street Looks To Recover

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U.S. stocks were higher on Wednesday, as markets attempted to recover from Tuesday’s clobbering.

The Dow, NASDAQ and S&P 500 all lost more than 1% on Tuesday—the worst day this month on Wall Street. The dollar was the main culprit, rising more than 1.3% during the day and reaching its highest level against the Japanese yen in almost eight years.

However, it was the NASDAQ leading the way on Wednesday, closing at an all-time high of 5,106.59.

Continued data releases seemed to signal an impending interest rate hike, which has long been the fear of Wall Street traders and investors. It’s been nearly a decade since the most recent rate hike, meaning uncharted territory for many brokers and investors who’ve never attempted to operate in such an environment.

Wednesday was a quiet day on the data front, allowing investors time to absorb the news from Tuesday. The bounce back suggested a slight over-reaction, although the real story of the week may not be told until Friday, when the revised first-quarter GDP number is released.

Here are the final numbers from Wall Street on Wednesday:

Dow Jones Industrial Average: 18,162.99 (+121.45)

NASDAQ: 5,106.59 (+73.84) 

S&P 500: 2,123.48 (+19.28) 

Phil Cannella

Phil Cannella

As a partner with CBS Radio in Philadelphia, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

@phillipcannella

Phil Cannella a revolutionary thinker. Phil Cannella's cause is the Phil Cannella Crash Proof Retirement system. Phil Cannella has worked for decades.
Get the truth on how Wall Sts stacked against you, on The @CrashProofShow Sat at 10 AM on @1290wjno in FL, and 11 AM on @TalkRadio1210 in PA - 1 year ago
Phil Cannella
Phil Cannella

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