|Day's Range||26,049.80 - 26,165.78|
|52 Week Range||21,712.53 - 26,951.81|
Commerce Secretary Wilbur Ross said in a recent interview that President Trump is "perfectly happy" to slap more tariffs on China if no trade deal is reached, as some Chinese companies are looking to move their manufacturing over to America to avoid tariffs. Yahoo Finance's Zack Guzman, Brian Cheung, and Krystal Hu are joined by Taylor Lorenz, The Atlantic staff writer, to discuss.
Global stocks mixed, with U.S. futures modestly lower, as investors maintain a cautious stance into the two-day Fed meeting that starts later this morning in Washington. CME Group futures suggest a 25% chance of a June rate cut, with the balances of bets suggesting the Fed will reduce its key target rate in July. European stocks open weaker as tech and bank stocks lead declines and investors react to a U.S. decision to move 1,000 troops into the Gulf region to counter "credible" threats from Iran.
Asian markets mostly gained in muted early trading Tuesday, as investors awaited key central bank meetings later this week.
The world’s No. 1 cryptocurrency is on fire, with a price approaching $10,000, pushing the digital asset near its highest level in more than 14 months, according to MarketWatch data provided by CoinDesk.
Stocks inched higher on Monday ahead of the Federal Reserve’s June meeting tomorrow. Many are expecting a more dovish tone from the central bank to signal support for the market.
Fitch Ratings on Monday cut its global economic outlook for 2020, blaming the ongoing trade war, and warned that central banks won’t be able to compensate for depressed business investment.
The Dow Jones Industrial Average ended moderately higher Monday as investors moved cautiously heading into this week's Federal Reserve meeting and weighed renewed tariff threats from the White House. Facebook is Real Money's Stock of the Day. Stocks ended slightly higher on Monday as investors adopted a cautious stance going into this week's Federal Reserve meeting and amid renewed tariff threats from the White House.
MSCI's gauge of stocks across the globe shed 0.06%, as modest increases for Wall Street's main indexes led by the tech-heavy Nasdaq were countered by some weakness in Europe. The U.S. Federal Reserve is set to give its policy statement on Wednesday, with expectations running high the central bank is poised to cut interest rates this year.
Wall Street edged higher on Monday, supported by Facebook, Amazon and Apple, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. The U.S. central bank is expected to leave borrowing costs unchanged at its two-day policy meeting starting Tuesday, but its statement will provide insight into the impact of the U.S.-China trade war, President Donald Trump's calls for a rate cut and weaker economic data. With investors expecting a rate cut as early as July, the S&P 500 index has risen 5% this month after tumbling in May due to fears about the U.S.-China trade war.
Clamoring for a rate cut by the Federal Reserve at some point this year is running high, but the Fed may not comply.
U.S. stocks close higher Monday on the back of strong gains in social media and entertainment shares such as Facebook Inc. and Netflix Inc.
U.S. stocks eked out modest to slight gains on Monday, powered by a climb in shares of technology-related and communication services shares. The Dow Jones Industrial Average closed up 0.1% at 26,112, picking up 23 points, the S&P 500 index rose 0.1% to 2,890, while the Nasdaq Composite Index advanced 0.6% to 7,845. The gains came as a gauge of manufacturing activity in the New York area, the Empire State manufacturing index, plummeted 26.4 points to negative 8.6 in June, a record decline. Economists had expected a reading of positive 10, according to a survey by Econoday. The weak survey data come as the Federal Reserve commences its two-day policy meeting Tuesday, where the central bank may indicate its willigness to reduce benchmark borrowing costs amid fears of the fallout from global trade tensions and a slowdown in the economy. In corporate news, shares of Facebook Inc. gained as interest grew around its reported cryptocurrency offering, Libra coin, set to debut on Tuesday.
The U.S. Food and Drug Administration on Monday approved Novo Nordisk's Victoza, a liraglutide injection, for the treatment of young patients 10 years or older with Type 2 diabetes. Although Victoza has been FDA-approved to treat adults with Type 2 diabetes since 2010, it is the only non-insulin drug approved for children other than metformin, which was approved for pediatric use in 2000. "Victoza has now been shown to improve blood sugar control in pediatric patients with Type 2 diabetes. The expanded indication provides an additional treatment option at a time when an increasing number of children are being diagnosed with this disease," said Lisa Yanoff, acting director of the Division of Metabolism and Endocrinology Products in the FDA's Center for Drug Evaluation and Research. Type 2 diabetes occurs when the pancreas is unable to make enough insulin to keep blood sugar at normal levels. It's the most common form of diabetes, normally occurring in patients 45 years or older. However, in the past two decades, its prevalence among younger patients has dramatically risen. More than 5,000 new cases of Type 2 diabetes are now diagnosed each year in the U.S. among people younger than age 20, according to the Centers for Disease and Control and Prevention. Shares of Novo Nordisk have gained 10.8% so far this year, while the SPDR S&P Pharmaceuticals ETF has gained 3%. The Dow Jones Industrial Average has gained 11.8% and the S&P 500 has gained 15.3%.
Some economists scoff at the idea the Federal Reserve will be able to engineer a small ‘insurance’ easing that will prolong the expansion.
Shares of Hibbett Sports Inc. tumbled 9.3% in afternoon trading Monday, after the athletic gear retailer said it would be unable to file its 10-Q quarterly report with the Securities and Exchange Commission on time, as it needs to further review its accounting. The company in a filing late Friday said the need for further review follows the recent adoption of the Financial Accounting Standards Board's new accounting standards regarding leases. The quarterly report in question is for Hibbett's fiscal first-quarter ended May 4, in which the company reported an adjusted profit, revenue and same-store sales that beat expectations, and raised its earnings and same-store sales guidance. The company does not expect any material changes in results. The stock has still climbed 8.1% over the past three months, while the SPDR S&P Retail ETF has lost 4.8% and the Dow Jones Industrial Average has gained 1.1%.
Vote Trump — or you’ll never see your precious bull market alive again. That’s basically the warning the president fired off over the weekend to his 61 million Twitter followers.
Thanks to aggressive government and central bank action, the 10-year-old U.S. economic expansion will set a record next month by becoming the longest ever. But the cost of such policies, including high debt, may not make them worth it.
The weather has turned for the worse and crop prices are up. That means it is time to invest in farming stocks, according to Wall Street.
Wall Street's main indexes rose on Monday, with the tech-heavy Nasdaq leading the pack, as investors awaited a key Federal Reserve meeting that is expected to lay the groundwork for an interest rate cut later this year. The U.S. central bank is likely to leave borrowing costs unchanged at its two-day policy meeting starting Tuesday, but its statement will provide insight into the impact of the U.S.-China trade war, President Donald Trump's push for a rate cut and weaker economic data on monetary policy. Markets expect a cut in interest rates as early as July, and the S&P 500 index has risen 5% so far in June on the hope, but the rally lost steam in the past week.
MSCI's gauge of stocks across the globe gained 0.05%, as increases for Wall Street's main indexes led by the tech-heavy Nasdaq countered some weakness in Europe. The U.S. Federal Reserve is set to give its policy statement on Wednesday with expectations running high the central bank is poised to cut interest rates this year. The European Central Bank is also holding a forum in Portugal this week, with the Bank of Japan also set to hold its policy meeting later in the week.
Ahead of the Fed meeting this week, the markets “want clarity” on monetary policy says Brian Levitt, Senior Director of Investment Strategy at Invesco. He also says the markets won’t crash if President Trump isn’t re-elected. He spoke with Yahoo Finance’s Alexis Christoforous, Brian Sozzi and Scott Gamm.