Written by Investing.com Staff, Investing.com
U.S. stocks rally late after Yellen foresees near-term rate hike
U.S. stocks ticked up on a volatile final session before the Memorial Day holiday, as Janet Yellen rattled Wall Street by offering strong indications that the Federal Reserve could raise interest rates in the coming months.
The Dow Jones Industrial Average gained 44.93 or 0.25% to 17,873.22, while theNASDAQ Composite index added 31.74 or 0.65% to 4,933.51, rallying late in the session after briefly turning negative in response to Yellen's remarks. The S&P 500 Composite index, meanwhile, rose 8.96 or 0.43% to 2,099.06, as nine of 10 sectors closed in the green.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.
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by Felix Richter, Statista.com
According to a regulatory filing that surfaced this week, Snapchat raised an additional $1.81 billion in funding from various investors.
Infographic Of The Day: Best Places For First-Time Home Buyers
Indianapolis is the best market for first-time home buyers right now, according to Zillow's latest analysis. Pittsburgh and Memphis are also high on the list of places that are the easiest for first-time buyers.
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27May2016 Market Close: Wall Street Closed Higher, DOW Up 45 Points, WTI Crude Testing High 49's, Three Day Holiday Ahead
from Dirk Ehnts, Econoblog101
This is from his article at Project Syndicate:
Written by Gary
Wall Street closed higher today for its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate 'in the coming months.' Oil futures also ended the session higher and a gain for the week, but below the $50 yesterday. Financial markets in the U.S. will be closed on Monday for the observance of Memorial Day, in honor of men and women who died while serving in the U.S. military.
27May2016 Market Update: Yellen's Speech Does Little To Move The Major Averages One Way Or The Other
27May2016 Pre-Market Commentary: Futures Fractionally Higher, WTI Crude Trading Below $50, GDP Comes
ECRI's WLI Growth Index which forecasts economic growth six months forward expanded marginally and remains in positive territory for the ninth week - after spending the previous 34 consecutive weeks in negative territory.