The Standard & Poor’s 500 Index retreated from a record set yesterday, after the Federal Reserve announced plans to trim its monetary stimulus, as investors weighed economic data today that included jobless claims and home sales. The S&P 500 lost 0.1 percent to 1,809.60, narrowing an earlier drop of 0.5 percent. The Dow Jones Industrial Average added 11.11 points, or 0.1 percent, to 16,179.08, extending an all-time high. The Nasdaq dipped 11.93 points, or .29%, to 4,058.13. About 6.4 billion shares changed hands today on U.S. exchanges, roughly 4 percent higher than the three-month average. Data from the Labor Department today showed applications for unemployment benefits unexpectedly rose last week to an almost nine-month high of 379,000, in contrast to a median forecast of 48 economists surveyed by Bloomberg that predicted a drop to 336,000 applications. A separate report showed previously owned home sales declined for the third consecutive month in November to the lowest level of 2013 as rising mortgage rates and a limited supply of properties deterred buyers. The S&P 500 rose to 1,810.65 yesterday and the Dow reached a record 16,167.97 after the Fed announced it will cut its monthly bond purchases to $75 billion from $85 billion starting in January due to an improving labor market. The central bank also stated it likely will keep its benchmark interest rates low “well past the time” that the jobless rate falls below its target of 6.5 percent.
S&P 500 Falls From Record amid Economic Data Reports
Like This Article?
Now Get a FREE Special Report:
3 Dividend Plays with Sky-High Returns
This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.
Get Access to the Report, 100% FREE
PREMIUM SERVICES FOR INVESTORS
Dr. Mark Skousen
Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.
- Forecasts & Strategies
- Home Run Trader
- Fast Money Alert
- Five Star Trader
- TNT Trader
A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.
- Cash Machine
- Premium Income PRO (exclusively for subscribers of Cash Machine)
- Quick Income Trader
- Breakout Options Alert
- Hi-Tech Trader
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:
- Successful Investing
- High Velocity Options
- Intelligence Report
- Bullseye Stock Trader
- Eagle Eye Opener
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
- Retirement Watch
- Retirement Watch Spotlight Series
- Lifetime Retirement Protection Program
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:
- Investment House Daily
- Stock of the Week
- Technical Traders Alert
- Rapid Profits Stock Trader
Used by financial advisors and individual investors all over the world, DividendInvestor.com is the premier provider and one-stop shop for dividend information and research.
Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.
- Dividend Investor