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Groton Daily Independent
Tuesday, July 25, 2017 ~ Vol. 25 - No. 025 ~ 37 of 38
WALL STREET: The Standard & Poor’s 500 lost 0.1 percent to 2,469.91 after nine of the 11 sectors that make up the index logged losses. The Dow Jones industrial average fell 0.3 per- cent to 21,513.17. The Nasdaq com- posite gained 0.4 percent to 6,410.81. The Nasdaq is up 19.1 percent this year, nearly double the rise for broader-market indexes as investors have massed into technology stocks in their search for strong growth as the global economy remains sluggish.
GLOBAL GROWTH: The Internation- al Monetary Fund on Monday held its forecast for global economic growth this year steady at 3.5 percent, but that masks some variation. It raised
Trader Tommy Kalikas works on the oor of the New York its forecast for economic growth in Stock Exchange, Monday, July 24, 2017. Stocks are off to Europe,JapanandChina,butcutits amixedstartonWallStreetasdeclinesinhealthcareand outlookfortheUnitedStatesonthe consumer-focusedcompaniesoutweighgainsinotherparts
assumptionthatpoliticiansinWash- ofthemarket.(APPhoto/RichardDrew) ington won’t be as helpful for growth
as earlier expected.
FEDERAL RESERVE: The Federal Reserve’s policymaking committee begins a two-day meeting on Tues-
day, following its decision last month to raise short-term interest rates for the third time since December. The central bank also announced plans to start gradually paring its bond holdings later this year, a move that could cause rates to rise. Most investors expect the Fed to hold rates steady at this week’s meeting and possibly raise them one more time this year.
ANALYST VIEWPOINT: “The high level of trepidation continues to weigh on market sentiments as con- gressional hearing of White House advisers all but guarantees some headline risk and a possible escalation of the Russia- Gate bluster,” Stephen Innes of OANDA said in a commentary.
ENERGY: Benchmark U.S. crude rose 25 cents to $46.59 a barrel in electronic trading on the New York Mercantile Exchange. It gained 57 cents, or 1.2 percent, to $46.34 per barrel on Monday. Brent crude, the standard for international oil prices, rose 30 cents to $49.12 a barrel.
CURRENCIES: The euro rose to $1.1646 from $1.1644. The dollar ticked up to 111.14 Japanese yen from 111.10 yen and the British pound climbed to $1.3023 from $1.3007.
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AP Business Writer Stan Choe contributed from New York.
Today in History By The Associated Press
Today in History
Today is Tuesday, July 25, the 206th day of 2017. There are 159 days left in the year.
Today’s Highlight in History:
On July 25, 1956, the Italian liner SS Andrea Doria collided with the Swedish passenger ship Stockholm
off the New England coast late at night and began sinking; 51 people — 46 from the Andrea Doria, ve from the Stockholm — were killed. (The Andrea Doria capsized and sank the following morning.)
On this date: