real-time news and commentary for investors
Wednesday, Sep 4
Stocks rally as Beige Book shows expanding economy
- Stocks finished higher for a second straight session, with the Dow jumping nearly 100 points, after the Fed's Beige Book showed the U.S. economy grew at a "modest to moderate" pace in July and August.
- The Senate Foreign Relations Committee passed authorization for use of military force in Syria, clearing the way for a vote in the full Senate, likely next week.
- Ford (+3.5%) and GM (+5%) rallied as U.S. light vehicle sales recorded their strongest month in more than six years.
- Crude oil futures slipped 1.2% to $107.23 after rising sharply in previous sessions, while gold fell 1.6% to $1,390.
- The yield on 10-year Treasurys rose to 2.899% as prices fell.