Wall Street moved higher, though some of its earlier gains were pared back because oil slid, as investors anticipated a rise in the US Federal Reserve’s interest rate for the first time in almost a decade.
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Fans Flock To See New Star Wars Movie
Brian Burnham, assistant manager at Maya Cinemas, said the theater has been selling tickets for about two months. And while it wasn’t too busy this afternoon, Chatterly says tonights shows are already sold out.
At 2:58 p.m. the Dow Jones industrial average fell 171.54 points, or 0.97 percent, to 17,577.55, the S&P 500 lost 20.58 points, or 0.99 percent, to 2,052.49, and the Nasdaq Composite dropped 41.60 points, or 0.82 percent, to 5,029.53.
CRADDICK: “Lifting the Antiquated US Crude Oil Export Ban Will Be Monumental”
Commissioner Ryan Sitton said, “Lifting the crude export ban is critically important to Texas oil producers who are { currently US } oil producers will soon be able to export crude oil with minimal restrictions for the first time in { nearly
Markets were soothed by Fed Chair Janet Yellen’s assurance that future tightening would be gradual and dependent on inflation finally moving higher, as long forecast.
Obama presses Turkey’s president to lower tensions with Iraq
On Dec. 4, Turkey reinforced the force protection component of its units in the camp due to increasing threats to their security. Their conversation came after Turkish troops were wounded when a training base in northern Iraq was hit by Daesh on Wednesday.
Shares in French company Casino fell 2 percent, extending Thursday’s 11.5 percent after research firm Muddy Waters said it was one of the “most overvalued and misunderstood” companies it had come across.
“If we see oil continue to hit record lows by the end of the day, I think the market will follow it”, he said. Newmont Mining and Freeport-McMoRan plunged 7.7 percent and 8.5 percent, respectively, to lead decliners in materials, the second-greatest laggard in the S&P.
In currency markets, the euro fell 0.6% against the dollar to $1.0821, while the dollar rose against the yen.
The US central bank’s policy-setting committee raised the range of its benchmark interest rate by a quarter of a percentage point to between 0.25 per cent and 0.50 per cent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing costs. Today marked the simultaneous expiration of individual stock and index futures and options.
The West Texas Intermediate for January delivery moved down 1.83 USA dollars to settle at 35.52 dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery decreased 1.26 dollars to close at 37.19 dollars a barrel on the London ICE Futures Exchange.
Investors are predicting an 81.4% chance of a rate hike. The Standard & Poor’s 500 index (INDEXSP:.INX) edged lower by 16.81 points, or 0.81 percent, to 2,056. The biggest drag on the financial index, Berkshire Hathaway BRkb.N, was down 3.3 percent.
The Nikkei Stock Average closed down 1.9 per cent amid doubts about the effectiveness of the bank’s program, bringing its decline for the week to 1.3 per cent.
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Meanwhile, crude oil is under some pressure after two pieces of news: the American Petroleum Institute on Tuesday reported a build in USA inventories by 2.3 million, against an expected decline of about the same amount. Saut said he expects the indexes to recoup its Thursday losses and rally towards all-time highs through Friday.
