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Global concerns limit stock gains

Tuesday, September 29, 2015 - 01:33

U.S. stocks closed mostly higher, but were kept in check by looming worries about the global economy. Bobbi Rebell reports.

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A volatile day for the U.S. stock markets. Concerns about the global economy looming over Wall St. The Dow and S&P 500 edging higher. Apple firmly in the red weighing on the Nasdaq. The roller coaster ride isn't ending anytime soon, says LexION Capital's Elle Kaplan. SOUNDBITE: ELLE KAPLAN, CEO & FOUNDER, LEXION CAPITAL IN (ENGLISH) SAYING: "I do expect it to continue. However, we have to remember the markets are always volatile. We feel it very acutely, and we don't like it when the volatility leads the markets downward, but there's still choppy and volatile as they climb up. So, volatility is a constant." U.S. single-family home prices rose in July, but fell short of expectations according to the S&P/Case Shiller composite index. A separate report from the Conference Board, showed consumer confidence jumped in September to its highest level since January. Yahoo shares rose a day after the internet company's board decided to proceed with the spin off of its Alibaba stake regardless of the tax consequences. Shares of Nexstar got a lift after activist investor Starboard Value urged regional TV company Media General to sell itself to Nexstar. Media General's shares also moved higher. Republic Airways shares surged after Deutsche Bank raised the stock to a buy and the airline reached agreement on a new contract with its pilots. Shares of Phoenix Companies more than doubled after the life insurer agreed to be taken private by Nassau Reinsurance. In Europe, shares ended the day lower on China growth concerns.

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Global concerns limit stock gains

Tuesday, September 29, 2015 - 01:33