Home Stock & Shares Stocks edge higher in day of mixed trading

Stocks edge higher in day of mixed trading

by Jonathan Adams

Stocks inched up to another record yesterday after spending much of the day fluttering between gains and losses.

After big moves up in recent days, investors appeared to take a bit of breather. They nudged stocks higher at the open, then sent them down, then back up in indecisive trading that set the tone for the rest of the day. In the last half-hour, the Standard & Poor’s 500 crept to a tiny gain, closing up less than a third of a point, an increase of just 0.01 per cent.

Still, it was another high, and a winning streak that began with a strong U.S. jobs report on Friday continued for the fourth consecutive day.

Investors are hoping the strengthening economy, combined with low interest rates, will help lift corporate profits and the appetite for stocks.

Ernie Cecilia, chief invest­ment officer of Bryn Mawr Trust, said, “Good economic numbers could translate into decent second quarter earnings, and rates are low”. That makes for a “decent environment” for stocks.

Utility companies fared better than the rest of the market, though, a sign that investors are cautious as they seek out the relative safety of steady dividend payers. Investors also sought safety in U.S. government bonds, sending yields lower. The yield on the 10-year Treasury note, which had been rising since hitting an all-time low last week, dropped to 1.47 per cent from 1.51 per cent.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more