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Stocks trading in limbo here as Trump tacks again on ZTE, and China.
Here’s a quick wrap up of other headlines making news today.
U.S. stocks ended lower on Tuesday, weighed down by lingering uncertainty over the outcome of trade talks between the United States and China and declines in energy and industrial shares. President Donald Trump on Tuesday said he was not pleased with recent trade talks between the United States and China and earlier said there was no deal yet with China on ZTE Corp .
By Laila Kearney New York (Reuters) - Global stock markets tipped downward on Tuesday as Wall Street investors locked in recent gains while taking a cautious view of fresh U.S.-China comments even as European ...
U.S. stocks closed lower on Tuesday giving up some of the sharp gains from the previous session as uncertainty over trade policy and other geopolitical issues remained high. The Dow Jones Industrial Average ...
U.S. stocks mostly dipped on Tuesday as investors weighed comments on trade talks between the United States and China and as energy and industrial shares fell. U.S. President Donald Trump said he was not pleased with the recent U.S.-China trade talks and also raised doubts about the upcoming North Korea summit.
On paper, General Electric (GE) shouldn't be doing well on Tuesday, a day with plenty of analyst skepticism and underperformance from the industrial sector. It was the worst performing stock in the Dow Jones Industrial Average last year, and started off 2018 in the same position. Analyst Rene Lipsch writes that the deal is a credit negative for GE, and "highlights the risk that an expeditious execution of GE's $20+ billion asset divestiture program can have a considerable negative effect on GE's earnings and cash flows.
Want to know why the Dow Jones Industrial Average is doing what it's doing? The Dow Jones Industrial Average has dropped 62.61 points, or 0.3%, to 24,950.68, while the S&P 500 is up 0.1% to 2736.08 and the Nasdaq Composite has advanced 0.1% to 7404.01. About the only exciting thing going on is the rout in retail stocks—the SPDR S&P Retail ETF (XRT) has slumped 1.4% to $46.11 following earnings from Kohl's (KSS), AutoZone (AZO), and Advance Auto Parts (AAP)—but the sector is too small these days to move the needle all that much.
Wall Street gave up earlier gains and were little changed on Tuesday afternoon after U.S. President Donald Trump said he was not pleased with the recent U.S.-China trade talks and also raised doubts about the upcoming North Korea summit. Trump said the China trade talks "were a start" and that there was no deal with China on ZTE Corp. Trump has adopted a more conciliatory stance in the China talks as North Korea, whose chief ally is Beijing, has called into question a summit planned for next month in Singapore.
Correlations, or the degree to which two different securities move in tandem, could be prone to spikes, which would create a trading environment where stocks broadly move in the same direction, regardless of their individual or underlying fundamentals. While broad-market correlations have been receding since February, major indexes have at the same time been taking their cue from technology stocks, which have led the market higher for years and could just as easily lead it lower. “Increasing stock correlations within equities are additionally making it harder for investors to look for diversification by simply investing in equities.
What does Dow Jones Industrial Average and the rest of the stock market need to do to get some love around here? China just cut tariffs on U.S. vehicles and car parts. The Richmond Federal Reserve became ...
Though the major U.S. benchmarks have flatlined of late, boring remains bullish, and notable resistance is currently under siege, writes Michael Ashbaugh.
China said Tuesday it would cut import tariffs for automobiles and some car parts starting on July 1. Tariffs would be lowered to 15% from the current 20% to 25%, while tariffs on auto parts would be cut to 6%.
U.S. stocks edged higher on Tuesday, led by financial and energy stocks, as the United States and China made progress on ironing out their trade differences and reach an agreement. The consumer discretionary index fell 0.2 percent on disappointing quarterly reports from retailer Kohl's and homebuilder Toll Brothers.
Earlier this morning, Lowe’s Companies, Inc. (LOW) announced that it was hiring J C Penny Company Inc.’s (JCP) CEO Marvin R. Ellison as its President and CEO, effective July 2. While many investors may immediately write this hire off, since JC Penney is running neck and neck with Sears (SHLD) for least favorite retail stock, this is actually a very good hire for Lowe’s, because before Mr. Ellison decided to try and save JC Penney from late 2014 until now, he worked for Home Depot Inc. (HD) for 12 years from 2002 to 2014. Frankly, I am not sure anyone could have saved JC Penney. The highest position Mr. Ellison held at Home Depot was Executive Vice President of U.S. Stores, and he was one of the frontrunners to take over as CEO following Frank Blake’s retirement, but Craig Menear ended up getting the job. So we view this as a positive for Lowe’s, despite the negative reaction in the stock (down 1% after being up).
Is the U.S. stock market, after a few months of hobbling, about to resume its run upward? If 2017 was a year of no volatility or pullbacks, then 2018 so far has been a year of standing still. While Wall Street has seen volatility return this year, with more than three times as many 1% moves as were seen over all of last year, the result of all that sturm und drang has basically been a wash.
In this article, we’ll look at the weekly US steel production data released by the AISI (American Iron and Steel Institute). According to AISI data, US steel production rose 1.7% YoY (year-over-year) in the week that ended on May 12.
Washington neared a deal to lift its ban on U.S. firms supplying Chinese telecoms gear maker ZTE Corp, sources said on Tuesday, while Beijing said it will steeply cut import tariffs for automobiles and car parts. Shares of Ford, General Motors, as well as the U.S.-listed shares of Fiat, were up between 1 percent and 2.4 percent. "The market is taking very well to what appears to be the fact that Trump is able to maneuver the trade talks in our favor," said Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey.
The Dow Jones Industrial Average is heading higher this morning as the U.S. and China continue to make progress on avoiding a trade war. Nasdaq Composite futures have gained 0.3%. From the looks of it, progress us being made on to avoid a full-blow trade war.