|Day's Range||28,959.65 - 29,368.45|
|52 Week Range||24,680.57 - 29,568.57|
Headlines moving the stock market in real time.
Headlines moving the stock market in real time.
McDonald's Corp. has unveiled new merchandise for fans of the Quarter Pounder burger, like $25 Quarter Pounder mittens and scented candles. McDonald's has a Quarter Pounder Fan Club, and soon aficionados will be able to buy a six-pack of candles that smell like all of the burger ingredients including pickle, cheese, onion, and 100% Fresh Beef. The candles burn for about 25 hours. A "Quarter Pounder with Love" locket is currently sold out, but promises to return. And if you still need a 2020 calendar, McDonald's has got one for $25. The items are available for a limited time, and on Feb. 26, the city with the most enthusiastic Quarter Pounder fans will get a bronze statue of the burger. McDonald's stock has gained 17.7% over the past year, outpacing the Dow Jones Industrial Average, which is up 13% for the period.
Dow Jones futures: After a healthy dip for the stock market rally, First Solar, Universal Display, eHealth, Zscaler and Dropbox were big earnings movers late.
Interactive Brokers Group Inc. was in talks with E-Trade Financial about merging their brokerage operations but decided the deal didn’t make sense, according to Interactive’s founder Thomas Peterffy.
There is a "high probability" the COVID-19 outbreak will be a temporary shock, St. Louis Fed president James Bullard said Friday. In an interview on CNBC, Bullard said that market expectations of more Fed rate cuts are tied to worries about a severe economic shock from the virus. If those fears ease, expectations for Fed rates will also change, and "we will be back to an on-hold scenario," he said. Asked if he was worried about high valuations in equity markets, Bullard replied: "We're ok for now." Bullard has been arguing the U.S. economy will achieve a soft-landing. While stock valuations look high, there is less concern the low level of interest rates are factored in. Bullard has argued that the low-interest-rate environment is likely to persist. Minutes of the FOMC January meeting showed "several" Fed officials thought equity, corporate debt and commercial real estate valuations were "elevated." Bullard is not a voting FOMC member this year.
U.S. stocks are indicated lower on Friday as the impact of coronavirus continues to weigh on multinational companies and is now limiting movement in Japan. Coca-Cola Co. said the outbreak of COVID-19, the infectious disease that originated in Wuhan, China last year, will crimp its coming quarterly results.
U.S. stock futures are falling Friday as worrying coronavirus headlines keep trickling in and investors appear unwilling to hold riskier assets like equities going into the weekend.
Old Dominion Freight Line Inc. announced Friday plans for a 3-for-2 split of its common stock. The less-than-truckload services company's shareholders will issued one additional share for every two shares they own, with the additional share distributed on March 24 to shareholders of record on March 10. Based on Thursday's stock closing price of $225.72, the split adjusted price would be $150.48. The stock, which was still inactive in premarket trading, has run up 48.5% over the past 12 months, while the Dow Jones Transportation Average has gained 3.8% and the Dow Jones Industrial Average has advanced 13.0%.
European stocks slipped on Friday, as worries about the coronavirus outbreak spreading beyond China offset indications the economy is improving.
The IHS Markit flash eurozone manufacturing purchasing managers index rose to a 12-month high of 49.1 in February from 47.9 in January, while the services PMI reached a 2-month high of 52.8 from 52.5. Economists polled by FactSet expected a 47.5 reading for manufacturing and a 52.2 reading for services. Any reading below 50 indicates worsening conditions. The euro was stronger on the day, at $1.0819 vs. $1.0785 on Thursday.
One of Virgin Galactic's bulls sounded a note of caution Thursday. Morgan Stanley analyst Adam Jonas warned investors that stock in the space-start up might be due for a dip.
Stocks were jittery as world’s largest shipping company Maersk warned of a weaker financial outlook because of the coronavirus impact.
Dow ends nearly 130 points lower Thursday, after clawing back from steep late-morning losses, as investors struggled to find their footing amid uncertainty about the impact of China’s coronavirus epidemic.
Stocks ended lower Thursday, with the S&P 500 and Nasdaq Composite pulling back from record finishes posted a day earlier. Analysts said concerns over the spread of COVID-19 in China and neighboring countries appeared to be a factor in market weakness, but said there was no clear, single catalyst for the decline. The Dow Jones Industrial Average was down 388 points at its session low but ended the day off around 129 points, or 0.4%, near 29,219, according to preliminary figures. The S&P 500 fell around 13 points, or 0.4%, to close near 3,373, while the Nasdaq Composite lost around 66 points, or 0.7%, finishing near 9,751.
Thursday’s stock-market swoon could be down to traders finally realizing that the coronavirus impact could be more lasting than thought.
The company said UnitedHealth Group was canceling contracts in four states. Mednax said the contracts represented 2% of its 2019 revenue.
Selling in the Dow Jones picked up the pace around 11 a.m. ET. Intel lagged in the blue-chip index as chip stocks were weak across the board.
Many income-focused investors dwell on dividend yield and buy largely on that basis. Not so, say the two dividend-minded mutual-fund managers who run the outperforming Guinness Atkinson Dividend Builder Fund (GAINX) Matthew Page and Ian Mortimer use a much more nuanced approach to get high-achieving results.
So much for that “wall of worry.” According to data cited by Dana Lyons of J. Lyons Fund Management, fears that kept a contrarian tailwind blowing on stocks have gone completely still, as traders are now going all in on this market.