Fed’s Actions on rates in view of U.S. Stock changes

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By dmcIntire on August 14, 2014 Consumer Staples

Following ChannelAdvisor Corp’s (NYSE:ECOM) statement that retailer’s sales of same stores increased by 40 percent within July, Amazon.com Inc. (NASDAQ:AMZN) reached 2.9 percent. Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) climbed to 3.7 percent. A 23 percent increase of trading by King Digital Entertainment Plc (NYSE:KING) occurred.

There was a 0.6 percent gain in S&P’s 500 Index (INDEXCBOE:SPX) to 1,945.63 which was the maximum in New York in the last two weeks. An increase of 83.69 points in the Dow Jones Industrial Average(INDEXDJX:.DJI) was 0.5 percent making it to 16,644.23.

Bruce Bittles, CIS of RW Baird & Co., stated on a phone conference that oversees events seemed calmer but the FED will not be enthusiastic about raising rates in the near future.

The US GDP increased by 4 percent in the second quarter on an annual. There were more than 200,000 jobs in the US for a constant six months till July.

A concern came about due to the economic strength that Feds must be forced to act on rates since the central bank is still acting in October to decrease bond purchases.

With a tumble of 3.9 percent after July 24 in the S&P 500, concerns on the geopolitical crises in Ukraine, Iraq and Israel increased. With a record high of 2.7 percent, the gauge was closed yesterday.

Stocks of health-care and IT advanced by a minimum of 1 percent for the main 10 groups of the S&P 500 (INDEXCBOE:SPX) with one exception. There was a 3.7 percent addition in Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) and 2.3 percent in Intel Corp (NASDAQ:INTC).

Health Care REIT Inc. (OTCMKTS:GBCS) agreed to a partnership as it was bent on acquiring HealthLease Properties Real Estate Investment Trust (TSE:HLP.UN) with an addition of 2.1 percent.

An escalation of 14 percent by InterMune Inc. (NASDAQ:ITMN) to $51.70 was caused by reports that the takeover bids were received by the company.

There was a 2.9 percent increase by Amazon.com (NASDAQ:AMZN) resulting in $328.46. A fall of 0.9 percent in EBay Inc. (NASDAQ:EBAY) resulted to $52.95.

Macy’s (NYSE:M) experienced its biggest drop to $56.09 by 6.2 percent. Its earnings varied from estimates as discounts that helped shoppers, blew away profit margins. It was forced to cut the forecast for the full year.

Fossil Group (NASDAQ:FOSL) experienced its second largest drop by 5.6 percent in the S&P 500. Three renowned companies: Nordstrom Inc. (NYSE:JWN), Tiffany & Co. (NYSE:TIF), and Kohl’s Corp (NYSE:KSS) also dropped to a minimum of 1.3 percent.

An addition of 9 percent was added by FleetCor Technologies Inc. (NYSE:FLT) to $141.11. Comdata Inc was on the verge of being acquired by fuel cards provider for around $3.45 billion.

A 23 percent decrease in King Digital (NYSE:KING) brought it to $14. It was reported by Candy Crush video game maker yesterday that the gross bookings are due to fall starting its third quarter.

SeaWorld Entertainment Inc. (NYSE:SEAS) fell by 34 percent making it to $18.52. This was its lowest since April 2013 with missed earnings in the third quarter.