Stocks maintained most of Monday's gains resulting from positive
geopolitical developments and market-friendly comments from a Fed
hawk, but retreated off the session highs with investors remaining
cautious concerning Russian diplomatic overtures toward
This afternoon, NATO warned that there was a "high probability"
Russia could launch an invasion of Ukraine under the pretext of
humanitarian aid. Although global financial markets were all higher
in reaction to Russia ending "military exercises" on the Ukraine
border, the lingering risk of a Russian offensive threw cold water
on today's bullish sentiment.
Global equity markets were all in the green thanks to a cease
fire between Israel and Hamas, reportedly successful U.S.
airstrikes against ISIS, and encouraging developments in Ukraine.
Opening gains in the U.S. were also credited to Federal Reserve
Vice Chairman Stanley Fischer, whose comments concerning the
"disappointing" global economic recovery, and systemic changes in
the U.S. economy left open the possibility for the Fed to remain
accommodative for longer.
Nearly every sector posted gains but biotechs were again the
standout as potential treatments for the Ebola virus underpinned
the sector. This was followed by strong performances by tech and
consumer discretionary stocks.
Here's where the markets stand at the close:
Dow Jones Industrial Index was up 16 points (+0.1%) at
S&P 500 was up 5 points (+0.3%) at 1,936
Nasdaq Composite Index was up 30 points (+0.7%) at 4,401
FTSE 100 was up 1.00%
Nikkei 225 was up 2.38%
Hang Seng Index was up 1.29%
Shanghai China Composite Index was up 1.38%
(+) KMI Will consolidate public units in $70 bln deal, including
El Paso Pipeline Partners (
), Kinder Morgan Energy Partners (
) and Kinder Morgan Management (
(+) PIP Delaware court Orders SIGA Technologies (
) to pay to pay lump sum damages
(+) DRL Enters court-supervised negotiations with Puerto Rican
(+) MNKD Announced deal with Sanofi (
) for worldwide exclusive licensing agreement for insulin
(-) SIGA Delaware court Orders SIGA to pay to pay lump sum
damages to PharmAthene (PIP)
(-) DVR Reported a Q2 net loss of $0.31 per diluted share vs
estimates for $0.05 loss
(-) INO Reported wider loss from Q2 2013