Wall Street closed pretty much unchanged on Thursday, with the Dow Jones down 4 points and closing the day at 17,732.75, the Nasdaq down 1 point, and the S&P 2 points in the red. The indexes erased their early rallies, as declines in healthcare and energy-related shares muted gains in other sectors.
Data on Thursday appeared to support the Federal Reserve’s view of a strengthening labor market ahead of its meeting next month. The number of Americans filing for unemployment benefits fell last week.
Minutes from the Fed’s October meeting, released on Wednesday, hardened expectations of a December interest rate hike and hinted at a cautious approach after that.
Investors are increasingly pondering the pace of more rate increases in 2016, said David Carter, chief investment officer at Lenox Wealth Advisors in New York.
“We think the Fed will raise rates in December, but it will be more important how they set expectations about subsequent rate increases,” Carter said. “If the Fed sets an expectation that subsequent rate increases will be modest and measured, we think the equity markets can rally for some time.”
Seven of the 10 S&P sectors ended higher, led by utilities, up 0.99 percent.
After the bell, Gap Inc posted quarterly results that sent its shares down 4 percent.
Axiall Corp (NYSE:AXLL) stock edged higher by +1.19% to close Thursday’s session at USD 19.50. The company’s shares hovered between USD 51.35 and USD 14.74 (marking a new 52-week high/low) during the session. The stock traded with the volume of 1.84 million shares, which was above its 3 month average volume of 1.29 million shares. Over the last 5 days, Axiall Corp‘s shares have rose by 2.25%. The board of directors of Axiall Corp(NYSE:AXLL)on November 17, 2015 appointed Timothy Mann, Jr. as the company’s president and chief executive officer, a position to which he was named on an interim basis on July 6, 2015. In addition, Mr. Mann was named to the board of directors. “The board completed its CEO search process and is pleased to select Tim Mann to be the president and chief executive to lead Axiall Corporation,” said Axiall Board Chairman Mark Noetzel. “Tim has energized the employees and has renewed our focus on Axiall’s primary strategic initiatives.
Alamos Gold Inc (USA) (NYSE:AGI) gained +5.02% to close Thursday’s session at USD 3.14. The shares of the company fluctuated in the range of USD 5.90 and USD 2.89 (marking a new 52-week high/low) during the session. A trading volume of 1.33 million shares was recorded, which was greater than its 1 month daily average volume of 1.19 million shares. Over the three months, Alamos Gold Inc‘s shares have declined by -28.15%. Alamos Gold Inc. ( AGI )on November 12, 2015 reported financial results for the third quarter ended September 30, 2015 and reviewed its operating, exploration and development activities. “This marks our first quarter reporting consolidated results as the new Alamos with production of nearly 88,000 ounces. We are continuing to hit our operational targets at Young-Davidson, with record underground throughput in October, and we have commissioned the mill at Mulatos positioning us for a much stronger fourth quarter. We remain on track to achieve the low end of our full year consolidated production guidance of 375,000 to 425,000 ounces,” said John A. McCluskey, President and Chief Executive Officer.
Men’s Wearhouse Inc (NYSE:MW)‘s stock increased by +2.03% to close Thursday’s session at USD 19.07. The Company’s shares oscillated in the range of USD 18.63 and USD 19.39. A total of 1.24 million shares exchanged hands, which followed its 1 month daily average volume of 2.30 million shares. Over the last five days Men’s Wearhouse Inc‘s shares have declined by -4.51%. Men’s Wearhouse Inc(NYSE:MW)on November 16, 2015 announced the schedule for its fiscal 2015 third quarter earnings release and conference call. Men’s Wearhouse will release 2015 third quarter results on Wednesday, December 9, 2015 at approximately 5:30 p.m. Eastern time. Then at 9:00 a.m. Eastern time on Thursday, December 10, 2015, management will host a conference call and live webcast.