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This week’s economic calendar can best be defined as manufacturing-centric. Away from the FOMC minutes, scheduled for release on Wednesday afternoon, and Chair Jerome Powell’s scheduled talk on Friday morning, investors will be keeping a close eye on a sector of the economy that many had given up on — at least until November 2016. Today we got the Chicago Fed National Manufacturing Index, which surprised to the upside with a big revision to the prior month.
The Dow Jones Industrial Average surged nearly 300 points Monday to its highest level in more than two months as concerns about a possible trade war between the U.S. and China temporarily eased. Trade tensions receded as Treasury Secretary Steven Mnuchin said the U.S. will suspend its efforts to apply tariffs to $150 billion in Chinese imports. “I’m very skeptical that we’re anywhere near a resolution on China,” said Peter Cecchini, chief market strategist at Cantor Fitzgerald.
Asian shares skidded on Tuesday as a strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases. Japan's Nikkei (.N225) was mostly flat while Australian shares (.AXJO) fell 0.9 percent. MSCI's broadest index of Asia-Pacific shares outside Japan was just a shade higher at 568.4 points, but well below an all-time peak of 617.12 hit in January.
The Dow Jones Industrial Average jumped nearly 300 points today. If the Dow Jones Industrial Average's slump from its January high was about the potential for a trade war, then one of the biggest impediments to further gains appears to have been removed today. In tweets and other reports, the White House appeared to suggest that it would hold off on placing tariffs on China in favor of negotiations.
U.S. stocks rose on Monday and gains in industrials helped propel the Dow to a more than two-month closing high, after a truce between the United States and China calmed fears that a trade war might be imminent. U.S. Treasury Secretary Steven Mnuchin's comments over the weekend that the two countries had put the prospect of a trade war "on hold" and agreed to hold more talks to boost U.S. exports to China boosted stocks at the opening, with the Dow Jones Industrial Average (.DJI) leading the charge higher. Mnuchin said on Sunday the United States and China had agreed to drop their tariff threats, and China on Monday praised a significant dialing back of tensions.
As stocks rose on easing worries over trade, General Electric announced it is selling its rail business to Wabtec, and Micron Technology raised guidance.
as the trade war rhetoric between the U.S. and China cooled. The Dow traded above 25,000 on Monday for the first time since March 16. General Electric rose 1.94% after reaching an $11.1 billion deal with Wabtec Corp.
U.S. stocks closed solidly higher on Monday, with industrial stocks leading the market higher as concerns over a potential trade war with China showed signs of fading. The Nasdaq Composite Index added 0.5% to 7,394. The Russell 2000 index of small capitalization stocks rose 0.5%, ending at a record for a fourth straight day.
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.
Global stock markets climbed on Monday, and the U.S. dollar rallied to a five-month peak while the Japanese yen weakened after the United States and China agreed to halt a trade war between the two countries. U.S. Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China "on hold" after the two countries agreed to drop their tariff threats in favor of hashing out a broader deal.
The U.S. trade deficit with China looks to be headed higher even if China lives up to a pledge to boost agricultural and energy imports. The U.S. ran a $375 billion deficit in goods with China last year, exporting $130.37 billion worth of goods to the Asian giant. Over the weekend, Treasury Secretary Steven Mnuchin said the U.S. has specific, “industry by industry” targets for boosting exports to China, as the agreement powered stock-market gains (^DJI) on Monday.
The Dow Jones Industrial Average is soaring, and everything is right with the world, right? •...explain why Boeing (BA) is rallying. Yes, it’s “Mnuchin Monday.” Stocks rocketed out of the blocks Monday morning after the U.S. Trade Secretary (and Goldman alumnus) Steven “Sheets of Money” Mnuchin said any trade war with China was “on hold” for the time being.
Investing.com – Wall Street opened higher on Monday, as China and the U.S. agreed to put trade tariffs on hold.The S&P 500 was up 22 points or 0.82% to 2,735.25 as of 9:42 AM ET (13:42 GMT) while the Dow composite increased over 291 points or 1.18% to 25,006.94 and tech heavy NASDAQ Composite fell 72 points or 0.99% to 7,427.26.The trade war between the U.S. and China is “on hold” as the two work on a trade agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. The two countries had been engaged in a tit-for-tat over tariff disagreements over the last few months. ...
US stocks are trading higher today following constructive US-China trade talks. Notably, US-China trade friction has been among the key factors driving markets lower this year. While broader market indices including the Dow Jones Industrial Average (DIA) are in the green today, steel stocks are taking a beating. U.S. Steel Corporation (X) and AK Steel (AKS) are down sharply. Nucor (NUE) and Steel Dynamics (STLD) are also trading lower.
The United States and China held their second round of trade talks last week. In an interview with Fox News Sunday as quoted by CNBC, Treasury secretary Steven Mnuchin said, “We are putting the trade war on hold. During the company’s annual shareholder meeting, Buffett noted, “I don’t think either country will dig themselves into something that precipitates and continues any kind of real trade war.” Buffett admitted to missing out on stocks such as Google (GOOG) and Amazon (AMZN) during the meeting.
According to data provided by the United States Census Bureau, US retail sales rose 0.3% in April compared to 0.6% in March. Retail sales met the market’s expectation of a 0.3% rise.
On May 11–18, US equity indexes had the following performances: The S&P Mid-Cap 400 Index (IVOO) rose 0.2%. The S&P 500 Index (SPY) fell 0.5%. The Dow Jones Industrial Average Index (DIA) fell 0.5%.
Global stock markets edged higher on Monday and the U.S. dollar rallied to a five-month peak as trade tensions eased between the U.S. and China, while Italy's borrowing costs climbed as two anti-establishment parties grew closer to power. U.S. Treasury Secretary Steven Mnuchin on Sunday declared the trade battle with China "on hold" after both countries agreed to drop their tariff threats in favor of hashing out a broader deal. "People view this trade war 'on hold' as a positive," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
Want to know why the Dow Jones Industrial Average is doing what it's doing? The Dow Jones Industrial Average has surged 345.89 points, or 1.4%, to 25,060.98, while the S&P 500 has gained 0.9% to 2736.63 and the Nasdaq Composite has risen 0.8% to 7414.61. "Global equities are higher on news a trade war between the U.S. and China will be avoided," writes Evercore ISI strategist Dennis DeBusschere.
Shares of General Electric Co. rallied on Monday, with the industrial conglomerate on track to close at its highest level in nearly four months and officially entering bull-market territory. It is up about 22% from its 52-week low, which officially puts the Dow component into bull-market territory, having broken out of a lengthy bear-market stretch.
Do April's Inflation, Retail Sales Signal a Faster US Rate Hike? According to the data provided by the US Bureau of Labor Statistics, the US Consumer Price Index, or the inflation index, rose 0.2% in April compared to its 0.1% fall in March. This inflation figure didn’t meet the market’s expectation of a 0.3% rise.