Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

Fed talk drives stocks higher

Wednesday, November 06, 2013 - 01:54

Nov. 06 - Summary: Dow sets another record, but techs fall ahead of Twitter debut; Top race at Microsoft narrowed to five candidates -sources; Ralph Lauren lifts low end of guidance; Tesla hits the skids one-day after of earnings report. Fred Katayama reports.

▲ Hide Transcript

▶ View Transcript

Strong economic data from the U.S. and Europe and talk that the Fed may keep rates lower longer than expected powered stocks higher. But investors shunned big name tech stocks ahead of Twitter's Thursday debut. The Dow and S&P gained, with the industrials hitting a record high. But the Nasdaq finished slightly lower. The Leading Economic Index rose more than expected in September, suggesting that the economy is possibly gaining momentum. Also spurring demand for stocks: The president of the San Francisco Fed said the Fed should wait for more signs of growth before scaling back its bond buying program, and two Fed economists argued that rates should be held lower for longer to drive down unemployment. Twitter makes its debut as a public company Thursday. It's the most highly anticipated IPO since Facebook. Investor demand was so strong that Twitter upped its price range earlier this week. But beware: Birinyi Associates says internet IPOs on average fall 8.6 percent from opening day over the next six months, trading lower 62 percent of the time. Investors were hungry for newbies. Cyber security company Barracuda shot up as much as 31 percent on its first day Pulling up the S&P: Microsoft. Nomura raised its price target on the stock, and Reuters reported that the software giant had narrowed its list of CEO successors to five. Ralph Lauren gained after the designer clothing company hiked its dividend and the low end of its full-year sales outlook. It has been opening more of its own stores where sales are strong and relying less on its wholesale business. Dragging down the Nasdaq: Tesla. Its shares got slammed after the electric automaker delivered fewer Model S cars and less profit than expected. In Europe, stocks mostly rose on strong earnings and hopes for an interest rate cut.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

Fed talk drives stocks higher

Wednesday, November 06, 2013 - 01:54

Featured Videos

Final tests for mission to study the sun

Final tests for mission to study the sun

The European Space Agency's mission to study the Sun in unprecedented detail is being prepared for final pre-launch testing
Ocean clean-up ship fuelled by plastic pollution

Ocean clean-up ship fuelled by plastic pollution

Plans have been revealed for a self-powering ship that will remove plastic pollution from the sea, processing it into fuel as it goes
Ivorian wins first African freestyle football champs

Ivorian wins first African freestyle football champs

A freestyle footballer from Ivory Coast wins the first African championships, held in Nigeria
Che Guevara poster artist on revolutionary times

Che Guevara poster artist on revolutionary times

Fifty years after creating the Che Guevara poster that still adorns student bedrooms around the world, Irish artist Jim Fitzpatrick is delighted at its ubiquity, but concerned at its exploitation for commercial gain
Netfix and HBO tie for total wins at the Emmys

Netfix and HBO tie for total wins at the Emmys

It was a night of upsets for the highest honours in television and a triumph for streaming services, as Netflix drew with HBO for first place at the awards show