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Home>MARKET SNAPSHOT: Stock Market Inches Up To Records; Fed Speakers In Spotlight

MARKET SNAPSHOT: Stock Market Inches Up To Records; Fed Speakers In Spotlight

MARKET SNAPSHOT: Stock Market Inches Up To Records; Fed Speakers In Spotlight

10/05/2017

By Barbara Kollmeyer, MarketWatch , Ryan Vlastelica

Constellation Brands rises after earnings, outlook

U.S. stocks inched up to another round of all-time highs Thursday, though moves were slight as investors await appearances by several Federal Reserve officials.

What are stock benchmarks doing?

The Dow Jones Industrial Average rose 8 points to 22,672. The S&P 500 rose 3 points to 2,541, a rise of about 0.1%. The Nasdaq Composite Index was up 23 points, or 0.4%, to 6,557. Both the S&P and the Nasdaq inches up to intraday records, while all three indexes ended at records on Wednesday.

What could drive markets?

In the latest economic data, initial jobless claims fell by 12,000 (http://www.marketwatch.com/story/jobless-claims-drop-12000-to-260000-as-disruptions-from-hurricanes-ease-2017-10-05) (http://www.marketwatch.com/story/jobless-claims-drop-12000-to-260000-as-disruptions-from-hurricanes-ease-2017-10-05) in the latest week. Separately, the U.S. trade deficit declined (http://www.marketwatch.com/story/us-trade-deficit-falls-to-11-month-low-2017-10-05) to its lowest level in 11 months.

Several Federal Reserve officials will make appearances on Thursday. Fed Gov. Jerome Powell was scheduled to deliver a speech at the New York Fed on bond market regulation at 9:10 a.m. Eastern. Powell is among leading candidates to replace Janet Yellen (http://www.marketwatch.com/story/jerome-powell-in-the-running-for-top-fed-spot-echoes-one-of-trumps-favorite-economic-themes-2017-10-03) as Fed chief when her term at the helm expires in February.

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