Actionable news
All posts from Actionable news
Actionable news in CSCO: Cisco Systems, Inc.,

What Will Fed Minutes Mean To Markets?

Trade with confidence. Are you a professional trader? Be the first to get the alert with Benzinga Pro's real-time newsfeed and audio squawk and never miss an opportunity again.
Don't miss the chance to try it FREE today.

Allergan, Inc. NYSE:AGN, Cisco Systems, Inc. NASDAQ:CSCO - What Will Fed Minutes Mean To Markets?

Stocks are struggling to rebound from two days of losses in early trading as oil prices find higher territory amid bullish reports on inventories and renewed hope that a freeze in production is on the horizon, according to Wall Street analysts.

If the gains hold throughout the session, it may turn around two not-so-pretty days in the markets, which have been riding heavy waves of red in recent sessions as part of a global rout. Tuesday’s ended with the Dow (DJIA) closing down in triple digits—133 points—for the first time since March 8. Cisco Systems CSCO was the Dow’s biggest decliner, losing 2%, while Disney (DIS) gave back 1.7% amid succession issues.

The S&P 500 NYSESPX was dashed with all 10 sectors sinking for a cumulative drop deeper than 1%. That’s the first time since Feb. 11 that the entire index backtracked, according to the Wall Street Journal’s Market Data Group. The utilities sector took the biggest toll with its worst day since Feb. 26.

Investors took refuge in gold, silver and copper, all of which rose. Gold prices have advanced 16.5% from January through March, according the WSJ. That marks the best quarterly advance in 30 years. Today, however, we’re seeing those gains reverse. Yields on the 10-year Treasury notes are moving higher while bonds retreat.

Crude prices are heading toward $37 a barrel after a choppy day of trading yesterday. Some analysts attributed late-day gains yesterday to comments from a Kuwaiti official who predicted that leaders from global oil-producing countries would indeed make a pact on an output freeze when they all meet...