|Day's Range||27,329.80 - 27,398.68|
|52 Week Range||21,712.53 - 27,398.68|
From the YFi Interactive touch screen, Jared Blikre joins Alexis Christoforous and Brian Sozzi to break down the latest market moves after a host of companies report earnings today, such as Goldman Sachs (GS), JPMorgan (JPM), Wells Fargo (WFC), and Johnson & Johnson (JNJ).
Bank of America Merrill Lynch releases its monthly survey on how fund managers feel about the stock market.
Citigroup beat estimates with some help from its consumer cards business and a trading platform's IPO, but can other big banks rely on the same help in their earnings this week?
U.S. stocks steady early Tuesday morning with investors digesting a trio of bank earnings after major equity indexes eked out a round of fresh all-time closing highs Monday
A look back at history shows that the Fed has been willing to cut rates with stocks at or near all-time highs in the past, but it’s a phenomenon that hasn’t been seen in more than 20 years. And the Fed has never moved to ease when unemployment stood below 4%.
U.S. stock indexes treaded water on Tuesday as Wall Street's big banks swung between gains and losses after their quarterly results drew mixed reactions from investors. Goldman Sachs rose 2.4% and Wells Fargo gained 0.5% after the banks reported quarterly profit that topped estimates. Hopes of an interest rate cut by the Federal Reserve as early as this month to cushion the economy from any slowdown due to trade tensions have helped Wall Street's three main indexes scale fresh record highs in July.
The cost of imported goods fell in June by the steepest amount in six months, reflecting lower oil prices and a weaker global economy wracked by U.S.-China trade tensions.
Sales at U.S. retailers rose solidly in June for the fourth month in a row, pointing to a strong rebound in consumer spending in the second quarter that suggests the economy is not as fragile as the Federal Reserve apparently believes.
Manufacturing slumped in the three months ended in June for the second straight quarterly decline, the Federal Reserve said Tuesday.
The Dow Jones industrials led the flattish stock market action early Tuesday. Goldman Sachs moved further above a buy point after its earnings release.
WASHINGTON (MarketWatch) - Business inventories in the U.S. rose 0.3% in May, the Commerce Department said Tuesday. Sales rose 0.2% in the month. The ratio of inventories to sales, meanwhile, was unchanged at 1.39. That's how many months it would take to sell all the inventory on hand. One year ago, the inventory-to-sales ratio was 1.34. An increase in inventories adds to gross domestic product while a decrease subtracts from it. The increase in inventories in May was also unchanged at 0.5%.
Shares of Goldman Sachs Group Inc. surged 2.3% in morning trading after big second-quarter profit and revenue beats, with the price gain enough to keep the Dow Jones Industrial Average in positive territory. The stock rose $4.88, which would add about 33 points to the Dow's price, which is up 7 points. For the other Dow earnings reporters, J.P. Morgan Chase & Co.'s stock slipped 41 cents, or 0.4%, and Johnson & Johnson shares gave up $1.60, or 1.2%; combined, those declines would shave about 14 points off the Dow's price.
Stocks opened to thin losses Tuesday. Goldman Sachs and Johnsoin & Johnson split the Dow Jones index, ahead of a busy day for FANG stocks on Capitol Hill.
Stocks got off to a slightly lower start Tuesday as investors digested a stream of earnings reports, including results from Dow components Johnson & Johnson and Goldman Sachs Group Inc. . The Dow Jones Industrial Average fell around 7 points, or less than 0.1%, to 27,352, while the S&P 500 was off 0.1% at 3,011.12. The Nasdaq Composite fell 0.1% to 8,245.28. All three major indexes eked out record finished in subdued trading on Monday. Shares of Goldman Sachs were up 0.9%, while Johnson & Johnson shares fell 1.7%. Both companies topped earnings forecasts.
July 16 (Reuters) - U.S. stocks opened slightly lower on Tuesday as bank shares fell after a batch of mixed quarterly reports from Wall Street lenders JPMorgan Chase, Goldman Sachs and Wells Fargo. The Dow Jones Industrial Average fell 9.84 points, or 0.04%, at the open to 27,349.32. The S&P 500 opened lower by 2.17 points, or 0.07%, at 3,012.13. The Nasdaq Composite dropped 6.53 points, or 0.08%, to 8,251.66 at the opening bell.
J.P. Morgan Chase & Co. lowered its full-year outlook on net interest income, as the banking giant now assumes the Federal Reserve will cut interest rates up to three times this year. Chief Financial Officer Jennifer Piepszak said on the post-earnings conference call that net interest income is now expected to be $57.5 billion, according to a transcript provided by FactSet, compared with the FactSet consensus of $57.9 billion. In the first-quarter conference call, then-CFO Marianne Lake said NII was expected to be "$58-plus-billion," when the it was assumed that there would be zero interest rate cuts. The stock was last down 0.4% in premarket trading, but has been up as much as 1.3% and down as much as 2.1% after earnings were reported. It has climbed 16.7% year to date through Monday, while the Dow Jones Industrial Average has climbed 17.3%.
Shares of Lear Corp. sank 7.6% in premarket trading Tuesday, after the automotive electrical systems company cut its full-year outlook, citing continued declines in industry production volumes and macroeconomic headwinds. The company cut its 2019 sales guidance to $19.8 billion to $20.3 billion from $20.9 billion to $21.7 billion, its adjusted net income outlook to $885 million to $965 million from $1.08 billion to $1.17 billion and its free cash flow guidance range to $675 million to $775 million from $850 million to $950 million. Core operating earnings are now expected to be $1.35 billion to $1.45 billion, down from previous guidance of $1.60 billion to $1.70 billion. "Previously, we indicated that we anticipated an increase in industry production volumes in the second half of the year and an associated improvement in sales and earnings," said Chief Executive Ray Scott. "We now believe general macroeconomic and industry factors will continue to put pressure on sales and earnings throughout the remainder of 2019." The company expects to increase its restructuring program by $60 million to $200 million. The stock has shed 13.3% over the past three months, while the Dow Jones Industrial Average has gained 3.4%.
After all three stock indexes closed at records on Monday, investors don’t seem ready to charge too far ahead just yet.
Shares of J.B. Hunt Transport Services Inc. shot up 7.2% in premarket trading Tuesday, after the trucking company reported a second-quarter profit that beat expectations, while intermodal revenue fell a bit shy. Net income fell to $133.6 million, or $1.23 a share, from $151.7 million, or $1.37 a share, in the year-ago period. The results included a pre-tax charge of 14 cents a share from insurance claim costs. Excluding the charge, adjusted earnings per share of $1.37 beat expectations of $1.34, according to FactSet. Total revenue rose 5.7% to $2.26 billion, in line with the FactSet consensus. Intermodal revenue fell 1% to $1.15 billion to miss the FactSet consensus of $1.18 billion, as a "softer freight market limited the ability to offset rail network rationalization effects" in the Eastern network. The intermodal revenue decline reflected an 8% fall in volume and a 7% increase in revenue per load. The stock has slipped 0.5% year to date through Monday, while the Dow Jones Transportation Average has advanced 15.6% and the Dow Jones Industrial Average has hiked up 17.3%.