|Day's Range||24,883.06 - 25,086.49|
|52 Week Range||20,896.22 - 26,616.71|
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.
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.
The S&P 500 pulled back from two-month high price levels last week and consolidated with mixed sentiment. The S&P 500 regained strength and opened higher on May 21 amid the improved US market sentiment and reclaimed two-month high price levels. On Monday, all 11 major S&P 500 (SPY) sectors closed the day higher.
European stocks and S&P 500 futures inched up Tuesday after waning concerns about trade tensions between the U.S. and China helped send major global indexes to their highest close in months. The Stoxx Europe 600 edged up 0.1% in afternoon trading, while futures markets suggested U.S. stocks would extend gains, with the S&P 500 and Dow Jones Industrial Average each poised to add 0.2% after closing at their highest levels since March. said the U.S. would suspend its efforts to apply tariffs to $150 billion in Chinese imports.
Dow futures pointed to a fresh move above 25,000 for the blue-chip index as investors continued to cheer signs of easing tensions between the U.S. and China.
U.S. stock futures pointed higher on Tuesday, May 22, and global stocks rose as investors reacted to a significant move on trade tariffs from China. China's Finance Ministry said Tuesday that it would slash import tariffs on automobiles into the world's biggest car market in what could be the most significant step by officials in Beijing to placate demands made by Donald Trump to trim the country's multi-billion trade surplus with the U.S. The decision, while expected, comes after Washington and Beijing declared a near-term truce in the brewing dispute over tariffs and access to markets in the world's two biggest economies.
The Dow is working on getting comfortable back above the 25,000 mark, as lots of people scratch their heads over North Korea, Iran and the Cavs-Celtics series. In these topsy-turvy times, at least there are still some constants, such as millennials’ love for avocados. It’s a StockTwits duo that is serving up the chart — the social network’s co-founder, Howard Lindzon, and user Matthew Timpane.
Want to know why the Dow Jones Industrial Average is doing what it's doing? Check back here for a semi-live look at the volatile markets from Barron's reporters. 6:44 a.m. With little in the way of news ...
The dollar was under fresh pressure on Tuesday, notably from the British pound, which climbed on a forecast for interest-rate increases by a member of the Bank of England’s monetary policy committee. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which measures the dollar against six rivals, was weaker at 93.368, from 93.630 late Monday. The British pound (GBPUSD) jumped to $1.3472 from $1.3426 on Monday, when it tapped its lowest dollar level since late December.
Global stocks extended gains Tuesday as investors reacted to a significant move on trade tariffs from China and temporary easing of political pressures in Italy, both of which combined to soften the U.S. dollar and boost market sentiment.
Early European trading saw Italian government bond yields come off 14-month highs, after six days of heavy selling on concerns over high-spending policies mooted by a potential new ruling coalition. "Who will be the next finance minister in Italy, that is the question in the market at the moment," said Rabobank's head of macro strategy Elwin de Groot. Italy's main bourse also outperformed as the news flow eased.
It’s undeniably good news that the Russell 2000 is at a new all-time high. It may very well be that the broad U.S. market, as represented by indices including the S&P 500 (^GSPC), will soon join the Russell 2000(^RUT) in new all-time high territory. Currently the broad market is still about 5% below highs set in late January — even after a strong rally to start this week.
Global stocks were mixed Tuesday as investors shifted their attention from the temporary thawing of trade tensions between the U.S. and China to focus on the impact of a strengthening dollar and the potential fallout from the latest political chaos in Italy.
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.
The US stock markets rallied during the trading session on Monday, reaching towards significant resistance before pulling back a bit. I think we are trying to build up the necessary momentum to break out though, so I like the idea of buying these dips.
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.