We’re diving into the latest stock news for Thursday in our market update and that includes why stocks were up today.
While the stock market has been in a slump these past few weeks, there’s was a light of hope this morning. Both the S&P 500 and the Nasdaq Composite were rising higher in early morning trading.
That positive came after a rough day with the Federal Reserve detailing plans for interest rates. That includes warnings of a rate hike in March, as well as asset purchases coming to an end at that same time.
That’s really not all that surprising for investors that have been keeping up with the latest stock market news. Traders were expecting as much prior to the Fed’s meeting details being revealed yesterday.
It’s also possible that a positive outlook for the coming months was why stocks were up today. One industry that has been hit hard by the pandemic is travel. However, airlines stocks were rising higher this morning. This was due to a combination of strong earnings reports, as well as expectations for the economy to improve later this year.
Unfortunately, the positive momentum from this morning couldn’t last. While both the S&P 500 and Nasdaq Composite were up then, they’re both slipping now. That has the S&P 500 down around half a percent and the Nasdaq Composite dropping 1.3% as of Thursday afternoon.
Investors will want to keep an eye on the stock market in the coming months. Especially in March, which is when the next Fed meeting is set to take place.
We’ve got more stock market news worth diving into below!
InvestorPlace is home to all the latest stock news for Thursday. Among that is what’s sending Indonesia Energy (NYSEAMERICAN:INDO) stock higher, why LendingClub (NYSE:LC) stock is taking a beating, and details on an upcoming SPAC merger. You can find out more about these matters by checking out the following links!
More Thursday Stock Market News
- INDO Stock: 14 Things to Know About Indonesia Energy as It Rockets 150%+ Today
- LC Stock Alert: 10 Reasons Why LendingClub Is Plunging Today
- Apifiny SPAC Merger: 13 Things to Know About Abri’s (ASPAU) Plans to Take the Crypto Exchange Public
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.