US shares advance; Dow breaks 15,000

Stocks on Wall Street have made modest gains today, with the Dow Jones climbing above the psychologically-significant 15,000 level after a slump in durable goods orders makes tapering at the next Fed meeting less likely.

By early afternoon in New York, the Dow Jones was trading at 15,042 up 0.21% or 31 points. Despite a positive couple of sessions back-to-back, the Dow is on course for its worst monthly performance since May.

The other major US stock indices also advanced, with the S&P 500 rising 0.28% to 1668.2 and the NASDAQ 100 gaining 0.75% to 3145.7.

A report from the Commerce Department showed that durable goods orders plummeted 7.3% in July, the biggest drop in close to a year. Expectations had been for a drop of 4% . The transportation component is notoriously volatile, but even excluding this, the core number fell 0.6%. This is a significant result, and has potentially big implications for the Fed’s decision of whether to taper next month or not.

Alongside mortgage rates that have been climbing and some signs of softness in the housing market, this may be enough to convince the Fed to either defer the start of tapering or begin to scale back stimulus by only the smallest of margins.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Find articles by analysts

Een artikel zoeken

Form has failed to submit. Please contact IG directly.

  • Ik wens per e-mail informatie van IG Group bedrijven te ontvangen over handelsideeën en IG's producten en diensten.

Voor meer informatie over hoe wij uw gegevens mogelijk kunnen gebruiken, bekijkt u ons Privacy- en toegangsbeleid en onze privacy website.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.