Biggest Movers On Wall Street

Biggest Movers On Wall Street

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The major benchmarks in the United States slightly declined yesterday after a series of new recordings. Investors chew on the Federal Reserve’s interest rate decision. The prospect of approaching interest rate increases in America has curbed the risk appetite of US investors on Thursday. The US Federal Reserve (Fed) wants to squeeze its stock of debt worth 4.5 trillion dollars from October.

The leading Dow Jones index closed with the first loss in two weeks. It was 0.2 percent lower at 22,359.23 points. Strongest rise in the Dow was General Electric, with a gain of 1.8 percent. The banks Goldman Sachs and JPMorgan Chase benefited from the prospect of a further rising interest rate as a result of the Fed’s aid reduction. The wider S & P 500 dropped 0.3 percent to 2500.60 points. The NASDAQ Composite index fell 0.5 percent and closed at 6422.69 points.

The English football club Manchester United, which has a stock exchange listing in New York, grew well 2 percent more. The club benefited last season from higher television revenues. Also the win in the Europa League, which was settled in the final with Ajax, brought extra money in the end.

Apple stock dropped 1.7 percent. The reason behind this move was speculation about sluggish pre-orders for the new iPhone 8. In addition, reports of connection and battery problems in the new generation of Apple Watch caught the mood.

However, the shares of Advanced Micro Devices climbed by 2.4 percent. According to media reports, the chip maker broke its deal with the car maker Tesla over the development of a processor for driverless cars.

A billion-dollar takeover from Japan sent the titles of the chemical company Calgon Carbon to strong gains. They rose by more than 62 percent after Japanese chemical manufacturer Kuraray agreed to buy the Pittsburgh-based form for $1.1 billion in cash, or $21.50 a share. The deal is expected to be completed this year.

“Our quick thoughts are that Kuraray overpaid for shares,” Janney analysts wrote in a note. “Additionally, we see risk given that CCC has a specialty carbon business that supplies the U.S. military with gas masks and other personal protection items, so a foreign buyer could be an issue for U.S. government approval.”

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She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.

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