|Day's Range||23,995.18 - 24,106.25|
|52 Week Range||20,379.55 - 26,616.71|
The Fed's forecasts for higher economic growth and higher interest rates made waves, but Federal Reserve Chair Jerome Powell sought to downplay the significance of these forecasts.
U.S. stock benchmarks attempted to bounce back on Friday, a day after equities were routed after the Trump administration said it would impose tariffs on tens of billions of dollars of Chinese imports ...
U.S. stock futures point to a mixed start for Wall Street, as investors weigh up latest retaliatory moves from China in a brewing trade war with the U.S. that is unnerving investors.
Remember, it was the S&P 500's 200-day moving average that provided support back in February, and with short-term support levels getting sliced through like butter, pay close attention to 2600, and the mid-2500s, where the 200-day moving average now sits, writes JPMorgan's Jason Hunter. "The S&P 500 Index rejection of resistance near 2,800, break through the key 2,730 inflection, and drop to 2,610-2,637 medium-term support threaten our base-case outlook for an eventual recovery to new highs into the second quarter," he writes. S&P 500: Unchanged DJIA: -31 points, or 0.1% Nasdaq Composite: -0.2% Cisco Systems is (CSCO) is up 0.8% to $43.43 after Goldman Sachs added it to its Conviction Buy list.
The threat of a global trade war sent stock markets sliding on Friday and investors rushing for the safety of currencies like the yen and government bonds, after U.S. President Donald Trump announced tariffs on up to $60 billion of Chinese goods. Another bruising week for stocks has left global equity markets heading for their first quarterly loss since early 2016 after a spike in volatility, nervousness about rising inflation and the specter of a trade war spooked investors enjoying a multi-year bull run. European stocks fell, with Germany's Dax down 1.4 percent, the French CAC 40 1.3 percent lower and Britain's FTSE 100 0.4 percent in the red.
The Federal Reserve raised its key interest rate by 25 basis points in its March 2018 monetary policy review meeting and also raised its GDP forecast in that meeting. It said, “The economic outlook has strengthened in recent months.” Earlier, the committee said, “economic activity has been rising at a moderate rate.” In the present situation, the economic activity is accelerating with the help of improving consumer spending and corporate spending. It will also add more value to US economic growth.
The stock market is under severe pressure. Here are some tips to take. Facebook is also having an awful week.
Durable-goods orders jumped 3.1% in February, largely reversing a big drop at the start of the year and posting the biggest increase since last summer. Business investment also rebounded in a good sign ...
Could Wilbur Ross be Right about Tariffs? The Dow (DIA) dropped 700+ points and the S&P500 (SPY) went negative on the year. And it seemed rightfully so. We already have the steel tariff, and yesterday President Trump announced tariffs on China for goods that could total up to $60 billion. But cool headed octogenarian Wilbur Ross said don’t worry, they may retaliate, but it won’t be much. And do you know he was right? Overnight China announced retaliatory tariffs on only $3 billion of US goods. We also learned that some EU countries are exempt from the steel tariff. So until the next shot is fired (likely from an emboldened Trump), the market looks like it overreacted yesterday. The futures seem to agree as they have wiped away their large overnight losses, and the DOW looks to open up.
The Dow doesn’t look like it’s done diving yet, even after yesterday’s 724-point plunge. Veteran strategist Marc Chandler seems to have “Bridge Over Troubled Water” on his playlist, and he provides our ...