|Day's Range||2,760.27 - 2,797.77|
|52 Week Range||2,532.69 - 2,940.91|
European shares gained on Monday amid relief over Italy's budget, following rallies in Asia after China promised to provide stimulus to stabilise its economy and offset the impact of U.S. tariffs. Markets elsewhere in Asia also enjoyed healthy gains.. European stocks opened higher after Moody's kept Italy's sovereign rating stable on Friday instead of cutting it to negative.
European shares gained on Monday amid relief over Italy's budget, following rallies in Asia after China promised to provide stimulus to stabilise its economy and offset the impact of U.S. tariffs. European stocks opened higher after Moody's kept Italy's sovereign rating stable on Friday instead of cutting it to negative.
The Stoxx Europe 600 Index jumped at the open as nearly every sector climbed, but pared some gains as the morning wore on. In China, the Shanghai Composite Index surged more than 4 percent, the biggest increase since March 2016, in the wake of verbal interventions from authorities at the end of last week and plans to cut personal income taxes.
Beijing aims to tackle slowing growth and trade war impact with tax cuts that could be worth $1.2 trillion after Q3 GDP showed the slowest growth in a decade. European stocks gain, with autos and basic resources leading the advance, even as Italy's budget crisis continues to hold down sentiment following Moody's decision to cut its sovereign rating to Baa3 late Friday. U.S. stock called higher, with the Dow set for a modestly opening bell gain, ahead of an active week of earnings that includes updates from Amazon, Alphabet, Microsoft, Ford, Boeing and Lockheed Martin.
U.S. stocks were set to open slightly higher on Monday as investors turned focus away from fears of rising rates to the latest batch of corporate earnings.
Numbers By Barron’s is a two-minute financial podcast with three vital numbers to start your morning. Third quarter earnings season is in full swing, with analysts expecting 21% growth over last year. PayPal still processes 75% of payment volume on eBay’s online marketplace.
The sense of a heightened risk of a generalized asset-class shock has given way to relief among not just investors, but also policy makers in advanced and emerging countries, as well as in international institutions. Policy adjustments in individual countries have had a beneficial impact.
Asian share markets swung into the black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Spreadbetters tipped opening gains for European bourses.
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Asian share markets pared early losses on Monday as Chinese stocks swung higher for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Blue chips in Shanghai climbed 3.5 percent in early trade there, extending Friday's bounce on Beijing's pledge of support for the economy and companies.
Asian share markets fell anew on Monday as investors braced for the peak of the U.S. earnings season while angst over Saudi Arabia, Italy and Brexit kept geopolitics front and centre. Helped by a strong economy and deep corporate tax cuts, S&P 500 earnings per share are expected to grow 22 percent in the third quarter, according to I/B/E/S data from Refinitiv.
Revenue growth at U.S. companies is slowing, stirring concern that a corporate-profit boom that has driven the Dow Jones Industrial Average and other major stock indexes to dozens of records in 2018 is in jeopardy. Firms from asset manager BlackRock Inc. to computing giant International Business Machines Corp. this month have reported disappointing quarterly sales, citing such factors as cautious customers, rising costs and a stronger dollar. The S&P 500 has shed 4.8% over the past month, driven by concerns about rising interest rates and trade disputes that pushed investors to dump technology stocks and shares of other fast-growing companies.
Based on Friday’s close at 2767.50 and today’s early price action, the direction of the December E-mini S&P 500 Index on Monday is likely to be determined by trader reaction to the short-term 50% level at 2768.25.
A Federal Reserve turned hawkish and a Treasury Department keeping bond markets well supplied have carried yields to their highest levels in seven years. "I calculate fair value at around 4.5 percent in the 10-year," Jack Ablin, founding partner and CIO at Cresset Wealth Advisors, told CNBC's " Futures Now " on Thursday. A run up in interest rates could derail growth, making it more expensive for consumers to borrow while raising debt costs for companies.
Corporate earnings over the past two weeks gave investors an injection of much-needed good cheer, with most of the roughly 20% of S&P 500 companies to report thus far bearing expectations. Yet these positive numbers may mask some troubling signs, analysts say.
It’ll be a heavy week for earnings reports, and the Bureau of Economic Analysis will release its preliminary estimate of third-quarter GDP.
Reports from Amazon, McDonald's, and iRobot are some of the most anticipated earnings announcements set to publish over the next few trading days.
The energy sector has been whipsawed by headlines lately, and many investors can’t decide whether to buy or sell oil stocks. When oil (CLX8) raced up to a new 52-week high of more than $76 to start October, many thought things looked great. Then as U.S. oil supplies rose and as OPEC production rose, things didn’t look so hot.
Investing.com - The week ahead marks one of the busiest ones of the third-quarter earnings season on Wall Street, with names like Amazon, Google parent Alphabet, Boeing and McDonald's all set to report in the coming days.
Rising bond yields are putting an end to the “there is no alternative” mantra that provided a pillar of support for stocks. But it might be too soon to underweight equities just yet, some investors argue.
“The stock market is likely to turn from a significant contributor to strong growth at the start of the year into a modest drag next year, barring a further rebound in equity prices,” Goldman Sachs economists including Daan Struyven and Jan Hatzius wrote in a note Friday. The run-up in the equity component of the Goldman Sachs Financial Conditions Index drove most of the 185 basis points of easing from the start of 2017 to late January, the index’s record low, according to the report.
Elevated valuations and crowded positioning have been blamed for the waning leadership of the market’s biggest industry, along with everything from rising bond yields to corporate earnings. The truth is, computer and software makers are cheaper than they’ve been historically, and fund managers currently hold fewer tech stocks than their representation in benchmark indexes, according to Goldman strategists led by David Kostin. “Popularity has turned into concerns of overcrowding and outperformance has turned into concerns of overvaluation, ” Kostin wrote in a note earlier this week.
"I think a good gut check to sentiment, like a 15 percent correction, might be just the ticket to extend this bull market," he added. To get into correction territory, the benchmark index would need to fall to 2,645, a level not seen since May. A 15 percent drop would take it negative for the year. Paulsen told CNBC a correction is necessary to reflect a changing market environment where rates are on the rise, earnings are peaking, and economic growth might slow.
Even as corporate executives engage in a spree of share buybacks to spur stock prices higher, many have eschewed adding to their employee’s pension pots
Proctor & Gamble surged after reporting better-than-expected earnings. The company said it got a boost from strong beauty-product sales. A report from the National Association of Realtors showed on Friday that U.S. home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy.