|Day's Range||24,812.06 - 25,064.99|
|52 Week Range||20,896.22 - 26,616.71|
Stocks trading in limbo here as Trump tacks again on ZTE, and China.
Here’s a quick wrap up of other headlines making news today.
Industrial stocks—which powered Monday’s rally on news the U.S. would suspend its efforts to apply tariffs to $150 billion in Chinese imports—were among the biggest losers. President Trump said Tuesday he isn’t satisfied with the China trade talks and also separately said his planned June 12 summit in Singapore with Mr. Kim may not happen, adding to the uncertainty in the market. The S&P 500 fell 8.57 points, or 0.3%, to 2724.44, and the Nasdaq Composite dropped 15.58 points, or 0.2%, to 7378.46.
The S&P 500 fell 0.3% to 2724.44, while the Dow Jones Industrial Average dropped 178.88 points, or 0.7%, to 24,834.41. In a press conference with South Korea's President Moon, President Trump suggested that the summit with Kim Jong Un could be on hold or at least delayed," writes Todd Market Forecast's Stephen Todd.
A longtime business partner of President Donald Trump's personal lawyer Michael Cohen, whose business dealings are being scrutinized by federal prosecutors, pleaded guilty on Tuesday in a state tax fraud case that requires him to cooperate in any ongoing investigation, according to a person briefed on the deal. Yellow cab magnate Evgeny "Gene" Freidman, the so-called Taxi King of New York, pleaded guilty to a single count of tax fraud in an Albany courthouse, almost a year after state prosecutors and tax authorities charged him with pocketing $5 million in mandatory, per-ride transportation fees. For years, Freidman has managed hundreds of taxi medallions, the physical plates affixed to cabs that owners are required to display, including more than two dozen owned by Cohen, Trump's longtime fixer.
U.S. stocks ended lower on Tuesday, weighed down by lingering uncertainty over the outcome of trade talks between the United States and China and declines in energy and industrial shares. President Donald Trump on Tuesday said he was not pleased with recent trade talks between the United States and China and earlier said there was no deal yet with China on ZTE Corp .
By Laila Kearney New York (Reuters) - Global stock markets tipped downward on Tuesday as Wall Street investors locked in recent gains while taking a cautious view of fresh U.S.-China comments even as European ...
U.S. stocks closed lower on Tuesday giving up some of the sharp gains from the previous session as uncertainty over trade policy and other geopolitical issues remained high. The Dow Jones Industrial Average ...
U.S. stocks mostly dipped on Tuesday as investors weighed comments on trade talks between the United States and China and as energy and industrial shares fell. U.S. President Donald Trump said he was not pleased with the recent U.S.-China trade talks and also raised doubts about the upcoming North Korea summit.
On paper, General Electric (GE) shouldn't be doing well on Tuesday, a day with plenty of analyst skepticism and underperformance from the industrial sector. It was the worst performing stock in the Dow Jones Industrial Average last year, and started off 2018 in the same position. Analyst Rene Lipsch writes that the deal is a credit negative for GE, and "highlights the risk that an expeditious execution of GE's $20+ billion asset divestiture program can have a considerable negative effect on GE's earnings and cash flows.
Want to know why the Dow Jones Industrial Average is doing what it's doing? The Dow Jones Industrial Average has dropped 62.61 points, or 0.3%, to 24,950.68, while the S&P 500 is up 0.1% to 2736.08 and the Nasdaq Composite has advanced 0.1% to 7404.01. About the only exciting thing going on is the rout in retail stocks—the SPDR S&P Retail ETF (XRT) has slumped 1.4% to $46.11 following earnings from Kohl's (KSS), AutoZone (AZO), and Advance Auto Parts (AAP)—but the sector is too small these days to move the needle all that much.
Wall Street gave up earlier gains and were little changed on Tuesday afternoon after U.S. President Donald Trump said he was not pleased with the recent U.S.-China trade talks and also raised doubts about the upcoming North Korea summit. Trump said the China trade talks "were a start" and that there was no deal with China on ZTE Corp. Trump has adopted a more conciliatory stance in the China talks as North Korea, whose chief ally is Beijing, has called into question a summit planned for next month in Singapore.
Correlations, or the degree to which two different securities move in tandem, could be prone to spikes, which would create a trading environment where stocks broadly move in the same direction, regardless of their individual or underlying fundamentals. While broad-market correlations have been receding since February, major indexes have at the same time been taking their cue from technology stocks, which have led the market higher for years and could just as easily lead it lower. “Increasing stock correlations within equities are additionally making it harder for investors to look for diversification by simply investing in equities.
What does Dow Jones Industrial Average and the rest of the stock market need to do to get some love around here? China just cut tariffs on U.S. vehicles and car parts. The Richmond Federal Reserve became ...
Though the major U.S. benchmarks have flatlined of late, boring remains bullish, and notable resistance is currently under siege, writes Michael Ashbaugh.
China said Tuesday it would cut import tariffs for automobiles and some car parts starting on July 1. Tariffs would be lowered to 15% from the current 20% to 25%, while tariffs on auto parts would be cut to 6%.
U.S. stocks edged higher on Tuesday, led by financial and energy stocks, as the United States and China made progress on ironing out their trade differences and reach an agreement. The consumer discretionary index fell 0.2 percent on disappointing quarterly reports from retailer Kohl's and homebuilder Toll Brothers.
Earlier this morning, Lowe’s Companies, Inc. (LOW) announced that it was hiring J C Penny Company Inc.’s (JCP) CEO Marvin R. Ellison as its President and CEO, effective July 2. While many investors may immediately write this hire off, since JC Penney is running neck and neck with Sears (SHLD) for least favorite retail stock, this is actually a very good hire for Lowe’s, because before Mr. Ellison decided to try and save JC Penney from late 2014 until now, he worked for Home Depot Inc. (HD) for 12 years from 2002 to 2014. Frankly, I am not sure anyone could have saved JC Penney. The highest position Mr. Ellison held at Home Depot was Executive Vice President of U.S. Stores, and he was one of the frontrunners to take over as CEO following Frank Blake’s retirement, but Craig Menear ended up getting the job. So we view this as a positive for Lowe’s, despite the negative reaction in the stock (down 1% after being up).