This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stock Market Today: Stocks Cling to Gains, Bolstered by Financials

NEW YORK (TheStreet) -- U.S. stock indices were clinging onto their hard-fought gains in early afternoon trading on Wednesday after investors digested negative geopolitical and economic news and speculation of an earlier-than-expected interest rate hike.

Half of the key sectors were rising, with financials, energy and basic materials leading the pack, as Bank of America (BAC - Get Report) declared a dividend hike.

The Dow Jones Industrial Average was trading up 0.24% to 16,468.20. The S&P 500 was rising 0.15% to 1,923.02. The Nasdaq was ticking up 0.34% to 4,367.59. U.S. stocks on Tuesday finished at session lows after being pressured by a ramp-up of tensions in Ukraine.

A handful of top corporate headlines were crossing the wires Wednesday. Bank of America was charging 1.5% higher to $15.23 after the company increased its quarterly common stock dividend to 5 cents a share from 1 cent. Time Warner (TWX - Get Report) shares were tumbling 12.84% to $74.25 Wednesday as Rupert Murdoch's 21st Century Fox (FOXA - Get Report) withdrew its $80 billion cash-and-stock acquisition offer. Fox on the other hand was popping 5.14% to $32.91. 

Must Read: Time Warner Tumbles as Fox Withdraws Bid With Investor Support

Factory orders have been suffering in Europe's largest economy, a situation that Berlin's Economics Ministry blames on geopolitical developments and risks. These factors have led to a "certain holding back" on orders.

Elsewhere, the eurozone's third-largest economy, Italy, slumped back into a recession during the second quarter. GDP was down 0.2% from the first quarter.

News that Russia has amassed 20,000 combat-ready troops -- reportedly special forces as well as troops with armor, artillery and air defense capabilities -- on its eastern border with Ukraine raised concerns about imminent military intervention Wednesday.

Federal Reserve Bank of Dallas president Richard Fisher told Fox Business Network Tuesday evening that the central bank could hike interest rates earlier than the widely expected mid-2015 target if U.S. economic data continue to strengthen.

The Census Bureau reported on Wednesday that the U.S. trade deficit shrank to $41.5 billion in June, compared with the average estimate of $45.2 billion.

-- By Andrea Tse in New York

Follow @AndreaTTse

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BAC $14.52 -1.80%
FOXA $29.97 -2.40%
TWX $75.01 -2.30%
AAPL $93.10 -1.80%
FB $116.06 -0.57%


Chart of I:DJI
DOW 17,694.96 -135.80 -0.76%
S&P 500 2,054.17 -21.64 -1.04%
NASDAQ 4,746.3360 -58.9550 -1.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs