{"id":1637052,"date":"2022-09-08T18:42:09","date_gmt":"2022-09-08T22:42:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1637052"},"modified":"2022-09-08T18:42:27","modified_gmt":"2022-09-08T22:42:27","slug":"wall-street-ends-higher-gains-driven-by-banks-healthcare","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-ends-higher-gains-driven-by-banks-healthcare\/","title":{"rendered":"Wall Street ends higher, gains driven by banks, healthcare"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-ends-higher-gains-driven-by-banks-healthcare%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1637052&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Carolina Mandl<\/p>\n<p>(Reuters) \u2013     Wall Street\u2019s main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented bets of a large interest rate hike later this month.<\/p>\n<p>Indexes bounced back and forth in a choppy trading as concerns over Federal Reserve\u2019s next steps to tame a surging inflation remain.<\/p>\n<p>\u201cThere\u2019s just a lot of uncertainty and I think people aren\u2019t going to really make up their minds for longer than five minutes or five seconds, you know, until there\u2019s a little bit more clarity or light at the end of the tunnel,\u201d said Grace Lee, an equity income senior portfolio manager at Boston-based Columbia Threadneedle Investments.<\/p>\n<p>Money market traders see 87% odds that the Fed will hike rates by 75 basis points at this month\u2019s meeting. <\/p>\n<p>Bank of America, Barclays and Jefferies said they now see a 75-basis points interest rate hike. Before Barclays had said it could be a 50- or 75-basis point increase, while Bank of America and Jefferies were betting on a 50-basis point rise.    Federal Reserve Chair Jerome Powell said the central bank is \u201cstrongly committed\u201d to bringing inflation down and needs to keep going until it gets the job done.    Chicago Fed President Charles Evans joined his fellow policymakers in saying that reining in inflation is \u201cjob one.\u201d        Investors are also awaiting the U.S. August inflation report next week for fresh clues on whether the Federal Reserve will hike rates by half or three-quarters of a percentage point at the next policy meeting due Sept. 20-21.<\/p>\n<p>Worries over aggressive monetary tightening across the globe stalled equity markets on Thursday after the European Central Bank hiked interest rates by an unprecedented 75 basis points and signaled further hikes.    Meanwhile, data showed the number of Americans filing new claims for unemployment benefits fell last week to a three-month low, underscoring the robustness of the labor market even as the Fed raises interest rates.    With increasing odds of another outsized rate hike, both the rate-sensitive S&#038;P 500 bank index and the S&#038;P 500 healthcare sector rose 2.8% and 1.8%, respectively.        The healthcare sector was boosted by news that Regeneron Pharmaceuticals Inc\u2019s anti-blindness treatment Eylea was shown to work as well when given at a higher dose at a longer interval between injections. The drugmaker\u2019s shares jumped 18.8%.<\/p>\n<p>\u201cPeople are embracing safety. Healthcare is a very safe sector and it\u2019s still fairly cheap, the same way with the broader financial sector,\u201d said Lee.     The Dow Jones Industrial Average rose 193.24 points, or 0.61%, to 31,774.52, the S&#038;P 500 gained 26.31 points, or 0.66%, to 4,006.18 and the Nasdaq Composite added 70.23 points, or 0.6%, to 11,862.13.    GameStop Corp surged 7.4% after the video game retailer reported a smaller-than-expected quarterly loss.    American Eagle Outfitters Inc tumbled 8.7% after the apparel maker missed second-quarter profit estimates and said it would pause quarterly dividend as it fortifies its finances against a hit from inflation.<\/p>\n<p>Volume on U.S. exchanges was 10.19 billion shares, compared with the 10.37 billion average for the full session over the last 20 trading days.    <\/p>\n<p>On Wednesday, Wall Street\u2019s main indexes climbed the most in about a month as bond yields retreated after a recent surge that was driven by expectations of higher interest rates. Still, the benchmark S&#038;P 500 is down over 16% year-to-date.<\/p>\n<p>Advancing issues outnumbered declining ones on the NYSE by a 1.34-to-1 ratio; on Nasdaq, a 1.48-to-1 ratio favored advancers.<\/p>\n<p>The S&#038;P 500 posted 7 new 52-week highs and 8 new lows; the Nasdaq Composite recorded 37 new highs and 153 new lows.  <\/p>\n<p> (Reporting by Carolina Mandl, with additional reporting by Sruthi Shankar, Ankika Biswas and Anisha Sircar in Bengaluru; Editing by Saumyadeb Chakrabarty, Maju Samuel, Vinay Dwivedi and Aurora Ellis)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2746704\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI870KA-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI870KA-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2746705\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI870KB-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI870KB-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Carolina Mandl (Reuters) \u2013 Wall Street\u2019s main indexes posted gains on Thursday mainly lifted by financial institutions and healthcare companies, as investors digested hawkish remarks from policymakers that cemented<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1637052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1637052","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1637052"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1637052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1637052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1637052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1637052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}