Dow erases gain for 2017 as stocks fall, bond yields climb _ wcbd news 2


NEW YORK (AP) — The Dow Jones industrial average erased its gain for the year on Thursday, part of a pullback for stock indexes as Treasury yields continued their upward march.

KEEPING SCORE: The Dow Jones industrial average fell 109 points, or 0.6 percent to 19,696 as of 2:20 p.m. Famous quotes about life lessons Eastern time. Egp to usd That puts the Dow down 0.3 percent for the year, though it’s still within a good day or so of its record high, which was set in December.

WALKING A TIGHTROPE: Stocks have slowed in 2017 following an electrifying jump higher since Election Day. Rand pound exchange rate graph Investors are waiting to see what a Donald Trump presidency will really mean for stocks. Pound to dollar exchange rate graph They’ve already seen the optimistic case, as shown in the nearly 6 percent jump for the S&P 500 since Donald Trump’s surprise victory of the White House, propelled by expectations for lower taxes and less regulation on businesses.

“The stock market seems to be perched like a tightrope walker, balanced on the center, but there are a couple hundred-pound weights on each end of the balancing pole,” says Rich Weiss, senior portfolio manager at American Century.

Even with all those uncertainties, the market has remained relatively calm. 1 usd to rm malaysia The S&P 500 hasn’t had a day where it’s swung by 1 percent, either up or down, since early December. Exchange rate mexican peso to us dollar And the VIX index, which professional investors use to measure nervousness of the market, is still about 50 percent lower than where it was a year ago. Best quotes about love and life “Irrational complacency,” Weiss says.

YIELDS UP: Bond yields continued their march higher, and the 10-year Treasury yield rose to 2.47 percent from 2.43 percent late Wednesday. Binary compound Yields have generally been climbing since Election Day on expectations that President-elect Donald Trump’s policies will spur more inflation and economic growth. Dollar exchange rate to peso today The 10-year yield is still below its perch above 2.60 percent that it reached in mid-December, but it’s well above the 2.09 percent yield it was at a year ago.

A separate report showed that homebuilders broke ground on more new homes in December, capping a solid 2016 for the industry. Futures markets news Developers began work on the most new homes and apartments since 2007.

A stronger economy could sway the Federal Reserve to raise interest rates more quickly. Gender quiz It has raised rates twice since 2015 after keeping them at record lows near zero since 2008.

DIVIDEND DROPS: Higher yields may lure income investors back to bonds and away from high-dividend stocks. Gbp usd fx That hurts real-estate investment trusts and utilities, which carry some of the biggest dividend yields. Us dollar exchange rate in india REITs and utilities in the S&P 500 each fell 1.1 percent, tied for the biggest loss of the 11 sectors that make up the index.

RAIL RALLY: Railroad operators posted some of the biggest gains. Python append CSX led the way with a jump of $7.50, or 20.3 percent, to $44.39. Binary to text translator An activist investor is reportedly teaming up with the executive who turned around Canadian Pacific Railway to target CSX.

BINGE BUYING: Netflix jumped $6.07, or 4.5 percent, to $139.33 after the video-streaming service reported stronger fourth-quarter earnings than analysts expected and said that it added more customers during the quarter than ever before.

CURRENCIES: The dollar was mixed against its major rivals. Exchange rate euro to us dollar today It rose to 115.07 Japanese yen from 113.74 late Wednesday, and the euro dipped to $1.0661. Text to binary translator But the British pound rose to $1.2313 from $1.2284.

COMMODITIES: Benchmark U.S. Gbp usd exchange rate chart crude oil rose 29 cents to close at $51.37 a barrel. Fraction to number calculator Brent oil, the international standard, rose 25 cents to $54.17. Text editor windows 7 Natural gas rose 7 cents to $3.37 per 1,000 cubic feet.

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