Citywire for Financial Professionals
Stay connected:

View the article online at

Overnight Markets: Middle East cease-fire lifts Wall Street

The S&P 500 was up for a fourth session after as U.S. Secretary of State Hillary Clinton and Egyptian Foreign Minister Mohamed Amr declared a cease-fire between Israel and Hamas.

Overnight Markets: Middle East cease-fire lifts Wall Street

U.S. stocks gained slightly on Wednesday, with the S&P 500 up for a fourth session, as U.S. Secretary of State Hillary Clinton and Egyptian Foreign Minister Mohamed Amr declared a cease-fire between Israel and Hamas.

The Dow Jones industrial average gained 48 points, or 0.38%, to end at 12,837. The Standard & Poor's 500 Index added three points, or 0.23%, to finish at 1,391. The Nasdaq Composite Index rose 10 points, or 0.34%, to close at 2,927.

Shares rose on the news that a cease-fire was announced to end the flare-up in violence between Israel and the Palestinians. However, market's advance was limited as the Greece's international lenders failed again to reach a deal to release emergency aid to the debt-saddled country.

Investors also remained anxious about the looming fiscal cliff in the U.S. as the policymakers are not expected to get back to negotiations until after today’s Thanksgiving holiday.

Meanwhile, economic data showed manufacturing picked up at its quickest pace in five months in November, while the Thomson Reuters/University of Michigan's final reading for November showed the consumer sentiment index improved only slightly from the previous month.

St Jude Medical shares plunged 12.2% after an inspection report from health regulators raised new safety concerns about one of the company's leads that are used with implantable defibrillators, analysts said.

International Business Machines rose 0.6% helping the Dow outperform the other indexes. Hewlett-Packard Co climbed 2% a day after the computer and printer maker reported a $5 billion charge related to "accounting improprieties" at Autonomy.

Deere & Co lost 3.7% after the world's largest farm equipment maker reported a weaker-than-expected quarterly profit. Inc jumped 8.8% a day after the business software provider reported results that beat Wall Street's expectations.

In Asia, shares gained on Thursday as an initial survey showed China’s manufacturing is poised to expand this month.

The MSCI Asia Pacific Index rose 0.8% to 122 as of 11:08 a.m. in Tokyo. The Nikkei 225 Stock Average rose 1.1%. South Korea’s Kospi Index gained 0.8%, while Australia’s S&P/ASX 200 Index climbed 1.3%. Hong Kong’s Hang Seng Index added 0.4%. China’s Shanghai Composite Index slid 0.5%.

leave a comment

Please sign in here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

The Citywire Guide to Investment Trusts

In this guide to investment trusts, produced in association with Aberdeen Asset Management, we spoke to many of the leading experts in the field to find out more.

Watch Now

More about this:


Today's articles

Tools from Citywire Money

From the Forums

+ Start a new discussion

Weekly email from The Lolly

Get simple, easy ways to make more from your money. Just enter your email address below

An error occured while subscribing your email. Please try again later.

Thank you for registering for your weekly newsletter from The Lolly.

Keep an eye out for us in your inbox, and please add to your safe senders list so we don't get junked.


Bank of England needs new target, says Labour

by Michelle McGagh on Jun 20, 2018 at 12:24

Sorry, this link is not
quite ready yet