The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

New York (AFP) — Wall Street stocks moved higher in early trade Friday despite a 3 percent plunge in Japanese shares and the first U.S. air strikes on Iraq since 2011.

About 30 minutes into trade, the Dow Jones Industrial Average advanced 20.17 points (0.12 percent) to 16,388.44.

The broad-based S&P 500 gained 2.80 (0.15 percent) to 1,912.37, while the tech-rich Nasdaq Composite Index added 5.69 (0.13 percent) at 4,340.65.

U.S. jets struck jihadist positions in northern Iraq after President Barack Obama approved air strikes following major gains by Islamic militants in the country.

Traders are also eyeing a resumption of hostilities in Gaza after a three-day cease-fire ended.

“Investor attention is focused mostly on geopolitical events,” said a market note from Wells Fargo Advisors.

Analysts also cited Chinese trade data, which showed July exports surged 14.5 percent, an encouraging figure for the world’s second-biggest economy.

Dow member McDonald’s dipped 0.3 percent after it said July global comparable sales dropped 2.5 percent, with sales in Asia sinking 7.3 percent after a report that it was using unsafe meat in China.

Gap jumped 5.8 percent as July sales rose 2 percent. The retailer projected second-quarter earnings of 73-74 cents per share, well above the 66 cent analyst forecast.

CBS gained 3.5 percent as it increased its share repurchase program from $3 billion to $6 billion and raised its dividend by three cents to 15 cents per share.

Social games developer Zynga fell 5.0 percent after it reported a $62.5 million second quarter loss, compared to a loss of $15.8 million a year ago.

Bond prices rose. The yield on the 10-year US Treasury fell to 2.39 percent from 2.42 percent Thursday, while the 30-year dropped to 3.21 percent from 3.23 percent. Bond prices and yields move inversely.

AFP Photo/Spencer Platt

Interested in economic news? Sign up for our daily email newsletter!

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Rep. Devin Nunes

Reprinted with permission from AlterNet

Republican Rep. Devin Nunes of California is retiring from Congress at the end of 2021 to work for former President Donald Trump.

Keep reading... Show less

From left Ethan Crumbley and his parents Jennifer and James Crumbley

Mug shot photos from Oakland County via Dallas Express

After the 2012 massacre at an elementary school in Newtown, Connecticut, then-Rep. Mike Rogers, a Michigan Republican, evaded calls for banning weapons of war. But he had other ideas. The "more realistic discussion," Rogers said, is "how do we target people with mental illness who use firearms?"

Tightening the gun laws would seem a lot easier and less intrusive than psychoanalyzing everyone with access to a weapon. But to address Rogers' point following the recent mass murder at a suburban Detroit high school, the question might be, "How do we with target the adults who hand powerful firearms to children with mental illness?"

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}