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

4 years 1 month 3 days 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 - Homecoming weekend is a big deal in Columbia with thousands flocking in for festivities, including tailgating prior to... More >>
4 hours ago Thursday, October 19 2017 Oct 19, 2017 Thursday, October 19, 2017 3:35:00 AM CDT October 19, 2017 in News
BOONEVILLE - Law enforcement took two into custody after a car chase late Wednesday night. The couple was identified... More >>
7 hours ago Thursday, October 19 2017 Oct 19, 2017 Thursday, October 19, 2017 12:09:00 AM CDT October 19, 2017 in News
ST. LOUIS - Southwest's first all-female crew took off from Missouri on Wednesday. The flight traveled from St. Louis... More >>
9 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 10:07:00 PM CDT October 18, 2017 in News
ST. LOUIS (AP) — Jaden Schwartz had his third career hat trick to help the St. Louis Blues beat the... More >>
9 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 10:06:59 PM CDT October 18, 2017 in News
COLUMBIA - Columbia Police Department responded to a call at 4:15 p.m. Wednesday afternoon in West Columbia. They are... More >>
11 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 7:39:00 PM CDT October 18, 2017 in News
MEXICO-- As Domestic Violence Awareness Month comes to a close, a report by the Violence Policy Center shows that Missouri... More >>
12 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 7:29:00 PM CDT October 18, 2017 in News
ASHLAND - Children, parents and politicians attended a Youth Town Hall featuring Congresswoman Vicky Hartzler, R-Missouri, Wednesday evening at the... More >>
12 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 7:14:00 PM CDT October 18, 2017 in News
COLUMBIA - After an active threat on MU’s campus, some are disappointed with the MU Alert system and question its... More >>
12 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 6:51:00 PM CDT October 18, 2017 in News
COLUMBIA - The Downtown Leadership Council met Tuesday to decide how to spend fees paid by developers to compensate businesses... More >>
14 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 5:33:00 PM CDT October 18, 2017 in News
SPRINGFIELD (AP) — An Arkansas man who made bomb threats to a county courthouse in Missouri so his court hearing... More >>
15 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 4:31:00 PM CDT October 18, 2017 in News
MOBERLY - Police arrested a man Tuesday on suspicion of more than a dozen crimes, including rape, statutory rape, sodomy,... More >>
16 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 3:31:00 PM CDT October 18, 2017 in News
COLUMBIA - Six years after being one of the first 16 schools to incorporate the Coulter Awards, MU has become... More >>
16 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 3:14:00 PM CDT October 18, 2017 in News
COLUMBIA – People struggling with alcoholism can find help more easily with a new online navigator tool released by the... More >>
16 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 3:12:00 PM CDT October 18, 2017 in News
JEFFERSON CITY (AP) — A judge has fined a central Missouri prosecutor more than $12,000 for failing to provide records... More >>
16 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 2:52:00 PM CDT October 18, 2017 in News
COLUMBIA – Rep. Vicky Hartzler, (R)-Missouri, presented a new piece of legislation she says is aimed at getting more people... More >>
17 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 2:24:00 PM CDT October 18, 2017 in News
SPRINGFIELD (AP) — A new report sheds light physical confrontations between a Missouri hospital's staff and patients that put the... More >>
17 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 2:13:00 PM CDT October 18, 2017 in News
MOUNTAIN VIEW (AP) — Authorities have confirmed that remains found in March in southern Missouri are a woman who has... More >>
17 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 2:08:00 PM CDT October 18, 2017 in News
COLUMBIA- The MU community made its voice heard Wednesday, laying out the characteristics, qualities and experiences it's looking for in... More >>
18 hours ago Wednesday, October 18 2017 Oct 18, 2017 Wednesday, October 18, 2017 1:20:00 PM CDT October 18, 2017 in News
Columbia, MO
Broken Clouds 49°
8am 53°
9am 57°
10am 62°
11am 66°

Select a station to view its upcoming schedule:

Coming Up Next

7:00a
Today
9:00a
Megyn Kelly TODAY
10:00a
Today with Kathie Lee & Hoda
7:00a
Maury
8:00a
The Steve Wilkos Show
9:00a
The Steve Wilkos Show

Tonight's Schedule

7:00p
Superstore
7:30p
The Good Place
8:00p
Will & Grace
8:31p
Great News
9:00p
Chicago Fire
7:00p
Supernatural
8:00p
Arrow
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld