Six members of the Standard & Poor's Total Market index and the S&P 500 commanded $1 billion or greater market values when this decade began — only to become penny stocks now. This is based on an Investor's Business Daily analysis of data from Marketsmith and S&P Global Market Intelligence. Suffering these kinds of losses is all the more painful given the powerful run the S&P 500 is on.
Mortgage rates resumed their decline in the week ending 22nd August. 30-year fixed rates fell by 5 basis points to 3.55% following a hold at 3.6% in the week prior. The fall left 30-year rates at their lowest level since late 2016 according to figures released by Freddie Mac.
Most Germans live by the credo that saving is a virtue, but the European Central Bank's negative interest rates risk making a mockery of the national obsession, prompting politicians to seek ways to insulate thrifty citizens and keep the burden on the country's beleaguered banks. Finance Minister Olaf Scholz says he'll look into whether it's possible to prevent German banks from charging most retail-banking clients for deposits, after such a measure was proposed by the leader of Bavaria. Lenders have rejected the idea, saying bans don't ultimately help clients and could even destabilize financial markets.
The S&P 500 (see below), DJIA, Nasdaq Composite, Nasdaq 1000 and Dow Jones Transports tested their resistance levels that were once again left intact. All of the near-term trends are neutral, in our view, with high "volume at price" (VAP) levels supportive on the DJIA and Nasdaq 100. They are resistant on the Nasdaq Composite, Dow Transports, MidCap 400 and Value Line index.
Wall Street is getting hit hard on Friday after China announced overnight a new batch of trade tariffs on U.S. imports. President Donald Trump wasted no time responding, hinting on Twitter (NYSE:TWTR) that he is preparing to take action to stop the U.S. dollar's rise to record highs. As a reminder, China responded to Trump's last salvo of import tariffs with an aggressive weakening of their currency — which then caused the U.S. Treasury to label the country a currency manipulator.
Bloomberg has learned that Volkswagen is exploring potential investments in Chinese automotive suppliers. The German automaker is looking to secure access to key technology in what is the world's largest car market. Bloomberg's Chris Reiter reports on “Bloomberg Markets: European Open.
Will the stock market's real rate of return please stand up? Depending on your frame of reference, the U.S. stock market is either performing fantastically or dismally. For example, the dividend-adjusted S&P 500 (SPX) has an annualized real (inflation-adjusted) return of 26.5% this year through Aug. 19 — including a full percentage point increase on Monday of this week.
Software developers, physical therapists and physician assistants crop up frequently among the highest-paid and fastest-growing jobs in every U.S. state, according to a new analysis by CareerBuilder. The site analyzed government data to project the careers most likely to be lucrative and in demand. Most of these jobs require some level of college education.
David Koch's death Friday marks the end of an era in the worlds of business, politics, philanthropy and high society. For Koch Industries, the conglomerate he helped his brother Charles transform into the second-largest privately held U.S. company, the founding family retains firm control as a generational shift takes hold. Nothing changes,” Koch spokeswoman Christin Fernandez said in an email.
p For example, there is yet to be a person on the stage who hasn't expressed some degree of terror about having to invest in the middle of the greatest financial experiment of all time. And with good reason.
Even better is that recent market volatility has sent many investors into healthcare stocks for their high cash flows and strong dividend potential. Many healthcare stocks have long been dividend champions — offering both high initial yields and overall strong dividend growth. For investors looking for income and the ability to keep that income rising over the long haul, healthcare stocks can't be beaten.
Friday morning, in Market Recon, I alluded to the fact that I had not traded Salesforce.com all that effectively of late, but took solace in that I had done a better job with VMware . Does this Friday 7%-ish decline make VMware a buy for me? For the second quarter, VMware reported adjusted earnings per share of $1.60 on revenue of $2.44 billion, both beats.
The Dow Jones Industrial Average dropped as much as 550 points, or more than 2%, as Wall Street braced for potential moves by the White House to punish Chinese exporters with additional tariffs. China grabbed the spotlight earlier in the day by announcing plans to impose 5% to 10% tariffs on as many as 5,000 U.S.-made products worth roughly $75 billion a year. As many as 15 of the 30 components of the Dow industrials dropped 2 points or more, sending the blue-chip index further below its key 50-day moving average.
Yes, the U.S. ten year Treasury yields 1.59%, not close to 0%, but negative rates seem to be creeping ever closer. For instance, negative interest rates haven't come to U.S. corporate debt, but Euro-denominated bonds issued by the likes of blue-chips Apple (AAPL), McDonald's (MCD), and Pepsi (PEP) carry negative yields. And in Europe, it was postulated that negative rates would never fly in the consumer sphere in terms of banks paying back depositors less than they put in their savings accounts, but that's now changing.
As investors begin to absorb the Powell comments rolling out, it's clear that markets may be in for a struggle. His address may mark the last market sensitive event of what Bank of America Merrill Lynch refers to as “the summer of bonds” where bonds flew off the shelves as investors sought safety from the threat of global recession. The bank notes investors poured a record three-month $155 billion into bond funds, versus $98 billion that drained out in January 2019, Our call of the day comes from the Bank of America strategists, whose Friday “Flow Show” highlights a contrarian signal telling investors to get ready to love stocks again.
Buckingham did a special screen of stocks held within Prudent Speculator portfolios to narrow the group to 25 that meet additional criteria, as listed below. He also provided three- to five-year price targets for the group. That is in contrast to the 12-month targets and ratings used by most Wall Street analysts.
Sales growth accelerates at the software leader, up 15% to $994 million.STOCK MARKET TODAY is sponsored by Interactive Brokers. To open an account, go to ibkr.com/whyib
Hong Kong's richest man, Li Ka-shing, is nicknamed Superman for his investing prowess. This week, his CK Asset Holdings conglomerate has inked a US$3.3 billion deal to buy the British pub chain Greene King , which has 2,700 pubs, restaurants and hotels in Britain. Li has faced allegations of disloyalty to China over the last few years.
This weekend's Barron's offers ways to prepare portfolios to ride out the next decade. "How to Prepare Your Portfolio for the Worst When the Worst Is a Real Possibility" by Reshma Kapadia shows how financial advisors are beginning to prepare for some bad, but not unthinkable, "doomsday" scenarios. Should Microsoft Corporation (NASDAQ: MSFT) be in your doomsday portfolio?
That's what make President Donald Trump's Friday tweet saying U.S. companies are “hereby ordered to immediately start looking for an alternative to China“ so frustrating for Apple investors. Apple stock (ticker: AAPL) fell 4.6% on Friday, losing $45 billion in market value, a decline almost twice that of the Dow Jones Industrial Average, which fell 2.4% in the week's final session. Just a few days earlier, the president was saying he liked Apple CEO Tim Cook better than other tech leaders, because Cook picks up the phone to talk to him.
Chinese currency is a hot topic these days for many reasons. Not only does it define the state of one of the world's biggest economic superpowers, but it is also central to one of the most debated issues involving China today—its perceived mercantilist policy of artificial undervaluation of its currency against the U.S. dollar to give its exports an unfair price advantage. In recent years, there has been a consensus among economists that the Chinese currency has been undervalued in the 15 percent to 40 percent range for many years.
There is too much love for the ROKU stock. Meanwhile, ROKU stock fell on Friday but there should be support down to 133 and $127 per share. Fundamentally, I've been a critic of Roku because they've been in business for 16 years and they still haven't figured out how to be sustainability profitable.
Gold prices surged higher on Friday in the wake of the Fed Chairs speech at Jackson Hole Wyoming and President Trump's tweet. President Trump reacted to the Chinese retaliating to the recent Trump threat of additional tariffs with specific tariffs on 75-billion dollars of goods that are exported to China. China specifically targeted cars and agricultural product which hurts people who live in red states.
Trump also demanded that U.S. companies take steps to exit China, throwing a new twist into a bitter trade war now in its second year, although Trump cannot legally compel U.S. companies to abandon China immediately. Beijing's planned tariffs will add as much as 10% on top of existing rates after Trump said he would impose tariffs on another $300 billion worth of Chinese products. Washington has long pressed Beijing for wide-ranging economic reforms, including better protection for American intellectual property, ending subsidies that favour Chinese state-owned enterprises, and improving access to China's markets for U.S. companies.The United States has already imposed tariffs on $250 billio...