Market Report: Summers Withdraws Name, Corn, Soy Prices Drop

4 years 9 months 1 day ago Sunday, September 15 2013 Sep 15, 2013 Sunday, September 15, 2013 5:12:00 PM CDT September 15, 2013 in News
By: William Joy, KOMU Reporter
loading

The three major indexes posted their second-straight week of gains and so far this month, all three are up more than three percent.

The Dow Jones Industrial Index rose 453.56 to finish the week at 15,376.06, its second best weekly gain this year. Meanwhile the NASDAQ saw a 1.7 percent gain finishing the week up 62.17 to 3,722.18, and the S&P 500 closed the week up just under 2 percent to finish at 1,687, a 32.82 gain.

Disney and Microsoft were the big gainers for the Dow this week, but the biggest news for the index was a company shake-up. Starting September 23, the Dow will no longer include HP, Alcoa, or Bank of America, while Nike, Goldman Sachs and Visa will be joining the 30-stock index.

A big reason behind the move to add larger stocks was decreasing IBM's influence.

Gains this week came despite some disappointing reports.

Consumer confidence dropped to a five-month low of 76.8, and retail sales rose only 0.2 percent in August, which is the smallest gain in four months.

In some other market news, Dell is going private, as shareholders agreed to sell the company to founder Michael Dell, who will work to turn the company around. At the same time, social media giant, Twitter announced it has filed paperwork to go public in the near future.

Word that the U.S. and Russia have begun constructive talks about Syria led to a drop in crude oil and gas futures this week, meaning you can expect gas prices to decrease in the near future. Prices for Columbia are around $3.17 for a gallon of regular, below the Missouri average of $3.33

As we near the thick of harvesting season, the USDA raised its expectations for corn output, which lowered December future prices to $4.59/bushel, while soybeans fell 1 percent to $13.815/bushel.

Those prices are down $3 and $4 respectively from the drought-ridden season last year.

This week is all about the fed and the news has already started as Larry Summers is withdrawing his name from replacing Ben Bernanke as head of the Federal Reserve, which makes Janet Yellen the front-runner now.

This week the Fed will meet to discuss interest rates and whether it should begin pulling back on its bond buying. Some experts believe tapering back the buying would hurt the recovering economy .Initial jobless claims come out on Thursday and housing permits and housing starts, which is the registered start of a new building are released Wednesday. Those numbers will show how quickly the economy is improving.

 

 

More News

Grid
List
COLUMBIA- Columbia is under a heat advisory until Monday evening. The National Weather Service issued the advisory on Friday.... More >>
7 hours ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 9:29:00 PM CDT June 17, 2018 in News
COLUMBIA - Missouri is the first and only state to define "meat" as exclusively animal product. The Missouri General... More >>
12 hours ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 4:55:00 PM CDT June 17, 2018 in News
COLUMBIA - City leaders will discuss the results of the 2017 Community Survey during Monday night's city council meeting. ... More >>
12 hours ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 4:06:00 PM CDT June 17, 2018 in News
ROCHEPORT - The Sunny Oaks Charity Horse Show brought about 20 riders out Sunday afternoon to compete for ribbons and... More >>
13 hours ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 3:36:00 PM CDT June 17, 2018 in News
SPRINGFIELD - A Hickman High School graduate has surrounded herself with Kewpies. The dolls' trademark round eyes watch happily from... More >>
20 hours ago Sunday, June 17 2018 Jun 17, 2018 Sunday, June 17, 2018 8:05:00 AM CDT June 17, 2018 in News
COLUMBIA - Hundreds of people impacted by cancer gathered together on a track Saturday in support of cancer fighters and... More >>
1 day ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 10:11:00 PM CDT June 16, 2018 in News
JEFFERSON CITY - A podiatrist with the Jefferson City Medical Group is the first doctor in Missouri to use a... More >>
1 day ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 6:42:00 PM CDT June 16, 2018 in News
COLUMBIA - At "Shred Fest," a local skateboarding competition, keeping participants safe was a top concern. An organization provided free... More >>
1 day ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 6:18:00 PM CDT June 16, 2018 in News
WASHINGTON, D.C. (CNN) - President Donald Trump suggested Saturday that he is using his administration's separation of families at the... More >>
1 day ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 3:14:00 PM CDT June 16, 2018 in News
KANSAS CITY, Kan. (AP) — A second sheriff's deputy died early Saturday from injuries suffered when an inmate... More >>
1 day ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 6:45:00 AM CDT June 16, 2018 in News
JEFFERSON CITY - The Juneteenth Heritage Festival is keeping the history of Juneteenth alive in mid-Missouri. Juneteenth is a... More >>
2 days ago Saturday, June 16 2018 Jun 16, 2018 Saturday, June 16, 2018 4:29:00 AM CDT June 16, 2018 in News
BOONE COUNTY - A death, a huge cache of weapons and a suspect who's gun jammed as he was aiming... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 8:06:00 PM CDT June 15, 2018 in News
COLUMBIA - Boone County's Republican clerk and the Democrat running against him have differing opinions over voter fraud. Challenger... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 6:59:00 PM CDT June 15, 2018 in News
COLUMBIA - Columbia’s City Channel was recently recognized for creative excellence in production by The Telly Awards Judging Council. Producers... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 6:43:00 PM CDT June 15, 2018 in News
KANSAS CITY, Kan. (AP) — One Wyandotte County sheriff's deputy is dead and one is in critical condition after... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 6:04:00 PM CDT June 15, 2018 in News
MILLER COUNTY- Investigators say the human remains they found in Miller County on Monday are from a male from the... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 4:48:00 PM CDT June 15, 2018 in News
FULTON - The two caregivers responsible for Carl DeBrodie will remain in jail after Judge Kevin Crane denied their bond... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 3:53:00 PM CDT June 15, 2018 in Top Stories
COLUMBIA - If a few more details with the Federal Highway Administration are worked out, MoDOT plans to close the... More >>
2 days ago Friday, June 15 2018 Jun 15, 2018 Friday, June 15, 2018 3:33:00 PM CDT June 15, 2018 in News
Columbia, MO
Broken Clouds 77°
5am 78°
6am 77°
7am 79°
8am 82°