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Market News: Coty, Planar Systems, Intercept Pharmaceuticals

The stock markets in the United Stated declined today except the Dow Jones Industrial Average (DJIA), up by 0.03%. Investors concern about China’s currency devaluation was alleviated after the country’s central bank expressed verbal support for the yuan.

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Investors are also paying close attention to economic data to determine the timing of any interest rate increase by the Federal Reserve.

In an interview with Bloomberg, Julian Emanuel commented that the markets over-reacted on China’s devaluation. He also said, “We saw the turnaround yesterday, and that’s all nice but the S&P is in a well-worn range, and the range may continue to prevail.”

Yesterday, the S&P 500 gained and erased a 1.5% loss caused by investors concern that China’s economy is falling. The People’s Bank of China (PBOC) stated that it would implement measures when it perceives excessive market volatility.

PBOC Deputy Governor Yi Gand said the central bank will act “when the market’s volatility is excessive when the...


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