|Day's Range||25,000.83 - 25,467.55|
|52 Week Range||22,887.12 - 26,951.81|
Global stocks weaken as geopolitical and trade tensions keep investors cautious following last week's selling on Wall Street. Saudi Arabia has vowed to react to any punishment meted out following the disappearance of prominent journalist Jamal Khashoggi in Turkey last week. U.S. stocks set for more red at the open, with the Dow indicated 20 points lower at the bell after better-than-expected third quarter earnings from Bank of America.
STOCKSTOWATCHTODAY BLOG Not Too Bad. The Dow Jones Industrial Average was heading lower Monday morning, following a nerve-racking week, but the damage isn’t too great…yet. Trade with China is still an issue, and fears about higher oil prices have been added to the mix due to tensions between the U.
Alnylam Pharmaceuticals Inc. shares dropped 1.8% in Monday premarket trade after the company announced that it intends to apply for full U.S. approval of its rare disease drug, rather than a faster-than-usual approval, signifying a more extended approval timeline for the therapy. The drug, givosiran, is currently in a phase 3 clinical trial, with preliminary results expected in early 2019. Alnylam plans to submit a "rolling" new drug application with the Food and Drug Administration starting this year, with full clinical trial results from the phase 3 trial to be submitted in mid-2019. Givosiran is intended for acute hepatic porphyria, a group of rare genetic diseases characterized by attacks that can be life-threatening, as well as chronic and painful symptoms. Alnylam's decision to go for full approval is "not a surprise to us: this plan is, in our opinion, a byproduct of faster than expected enrollment of the phase III Envision trial, and we'd be buying the stock on any weakness that ensues," said Stifel analyst Paul Matteis, who noted that company management had previously suggested that this might happen. Alnylam shares have dropped 23.8% over the last three months, compared with a 1.2% decline in the S&P 500 and a 1.3% rise in the Dow Jones Industrial Average .
TOKYO (AP) — Global stocks mostly slipped Monday as investors continued to worry about global trade and prospects for economic growth. The price of oil rose amid tensions over Saudi Arabia, a major crude exporter.
On October 11, US crude oil’s implied volatility was 26.2%, which is ~3% above its 15-day average. The inverse relationship between oil prices and oil’s implied volatility is illustrated in the following graph. Since reaching a 12-year low in February 2016, US crude oil active futures have risen 170.8%. Crude oil’s implied volatility has fallen ~65.2% since February 11, 2016.
STOCKSTOWATCHTODAY BLOG 6:23 a.m. A bad week ended with a good day. Too bad the good times couldn’t last. S&P 500 futures have fallen 0.4%, while Dow Jones Industrial Average futures have declined 79 points, or 0.
U.S. stocks look set for another volatile session Monday as investors re-set prices in markets all over the world amid amid escalating tensions between Washington and Riyadh over the death of a prominent Saudi journalist in Turkey last month as well as renewed concerns for trade disputes between the U.S. and its major economic partners. U.S. equity futures indicated a weak opening on Wall Street Monday, with contracts tied to the Dow Jones Industrial Average suggesting a 95 point decline, following last week's sell-off that clipped more than 1,100 points from the benchmark in one of the worst weeks of the year for domestic stocks, while linked to the broader S&P 500 were marked 18 points to the downside amid the 'risk-off' sentiment. index is creeping higher again in after-hours trading, rising 4.4% to 22.26 points, amid the broader global market declines in Europe and Asia linked to the Saudi tensions.
European stocks tumbled again, also hit by Italian budget woes and as Brexit talks dragged on with just days to go until a critical deadline. Futures contracts on the S&P 500 index fell 0.8 percent after the underlying gauge had its worst weekly slump since March 23 last week.
Analysts looking for key drivers over the near-term that will ultimately decide the fate of a number of currencies, economies and ultimately whether a new crisis dawns.
Stocks across the globe saw a sell-off last week, with Wall Street's major indexes seeing their worst weekly declines since March. With the U.S. earnings season currently underway, J.P. Morgan reported Friday that third-quarter figures exceeded analysts' expectations. The U.S.-China trade war continues to be in focus, along with concerns raised by President Donald Trump over the Federal Reserve's interest rate policy.
Asia stocks fell on Monday as investors remained cautious, following global losses in the previous week. The Dow Jones Industrial Average and S&P 500 finished the week down by more than 4 percent, while the Nasdaq Composite posted a 3.7 percent weekly loss. Stocks in Asia slipped on Monday afternoon as investors remained cautious, following global losses in the previous week.