|Day's Range||3,001.15 - 3,015.02|
|52 Week Range||2,346.58 - 3,017.80|
It's time to get technical at the YFi Interactive touch screen. Joining Yahoo Finance's Myles Udland is Jared Blikre to break down today's moves in crude oil and stocks.
U.S. stocks were mixed Tuesday afternoon as investors digested a wave of signals from officials over U.S.-China trade relations and monetary policy, along with an influx of corporate earnings results and economic data.
Bank of America Merrill Lynch releases its monthly survey on how fund managers feel about the stock market.
Stock futures: The market rally stalled Tuesday on President Trump's China trade war threat. United Airlines and CSX moved late on earnings. Lawmakers continued to grill Facebook, Apple and Amazon.
Researchers have found this ratio has a better track record for predicting the stock market’s direction than many of the more widely known valuation metrics.
The three main U.S. stock indexes all drifted lower on Tuesday after President Donald Trump said at a White House cabinet meeting that he could impose more tariffs on Chinese imports if he wanted. Big banks reported better-than-expected earnings for the second quarter.
SunTrust analyst C. Patrick Scholes thinks Hilton’s 2019 run could be crimped by a gradual deceleration of revenue per available room.
The Federal Reserve is almost certain to cut rates at the end of July — but don’t expect a melt-up, usually marked by a powerful rally followed by a substantial selloff, says Mark Haefele, global chief investment officer at UBS Global Wealth Management.
U.S. stocks edged lower on Tuesday as quarterly results from banks added to concerns about lower interest rates dampening their profits, while comments from U.S. President Donald Trump on trade also dragged down Wall Street's major indexes. Johnson & Johnson shares slipped 1.6% after the diversified healthcare company warned that competition from generic and copycat drugs could impact its third-quarter results.
U.S. stocks retreat Tuesday as investors digest trade war talk and a trio of bank earnings, a day after major equity indexes eked out a round of fresh all-time closing highs Monday
U.S.companies have been on a stock buyback binge, and now a record share of institutional investors are worried that companies are being too generous with stock repurchases and dividend payouts
The three major U.S. stock benchmarks snapped a multisession win streak on Tuesday as President Donald Trump said an agreement with China on trade tariffs had "a long way to go," and a trio of the U.S.'s largest banks reported quarterly results. The Dow Jones Industrial Average closed down by about 24 points, or less than 0.1%, at 27,336, ending four straight days of gains. If the Dow had finished in positive territory, it would have marked the longest streak of records for the blue-chip index since Dec. 13, 2017, according to Dow Jones Market Data. Meanwhile, the S&P 500 closed off 0.3% at 3,004, halting a 5-day win streak and the Nasdaq Composite Index finished down 0.4% at 8,222, ending its string of gains at two. All three benchmarks closed at records on Monday. Investors digested earnings JPMorgan Chase & Co. , Goldman Sachs , and Wells Fargo & Co. , which delivered on lowered expectations but came as the Federal Reserve was expected to lower rates, currently at a range of 2.25%-2.50% at the end of July to combat the effects of tariff conflicts between the U.S. and China. Banks tend to benefit from a higher-rate environment because the institutions borrow over a short-term basis and lend over a longer term. JPMorgan, for one, said that it was lowering its forecast for net interest margin, which helped to put pressure on its shares. Goldman's stock, however, rose 1.9%, as the investment bank surprised by beating analysts' average estimates firmly on profit and revenue. On the economic front, June retail sales rose 0.4% compared against May, coming in ahead of the 0.1% gain expected by economists polled by MarketWatch. Still, Dallas Federal Reserve chief Robert Kaplan also said Tuesday that inflation is likely to remain low because of the vast changes new technologies have had on wages and prices.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.U.S. stocks fell from a record high as President Donald Trump said he could impose more tariffs on China, reminding investors that the trade spat remains unresolved. Treasuries dropped and the dollar rose.The S&P 500 Index halted a five-day rally, with energy producers joining an oil sell-off and technology giants facing an antitrust showdown with Congress. Goldman Sachs Group Inc. jumped on better-than-estimated results in its trading unit, and JPMorgan Chase & Co. rebounded from losses triggered by a disappointing lending outlook. Benchmark 10-year yields climbed on solid data, then pared their surge after Federal Reserve Chairman Jerome Powell said the central bank “will act as appropriate” amid increased uncertainties.Investors remained locked into the notion of a Fed rate cut this month even after strong retail sales, factory output and housing data. While Powell’s remarks resembled his July 10-11 testimony to U.S. lawmakers, they continued to support the case for monetary easing amid risks stemming from Trump’s trade policies and slower global growth.“Trade’s a big, big issue,” said Dave Campbell, a principal at San Francisco-based BOS, which manages about $4.5 billion. “There’s a lot of uncertainties -- all of these are weighing on people’s minds right now.”Elsewhere, Bitcoin slid below $10,000 just three weeks after surging above it for the first time in more than a year as U.S. legislators expressed deep skepticism about the viability of cryptocurrencies. The euro slipped as investor confidence in Germany’s economic outlook fell. The pound slumped as the market once again reckoned with no-deal Brexit risk after the contenders to be U.K. prime minister toughened their rhetoric.Here are some key events coming up:Bank of America Corp. and Taiwan Semiconductor are among companies due to report results this week.Monetary policy decisions are due in Indonesia, South Korea and South Africa on Thursday.These are the main moves in markets:StocksThe S&P 500 dipped 0.3% to 3,004.04 as of 4 p.m. New York time.The Stoxx Europe 600 Index added 0.4%.The MSCI Asia Pacific Index decreased 0.2%.CurrenciesThe Bloomberg Dollar Spot Index increased 0.4%.The euro declined 0.4% to $1.1209.The British pound decreased 0.9% to $1.2408.The Japanese yen dipped 0.3% to 108.28 per dollar.BondsThe yield on 10-year Treasuries gained three basis points to 2.11%.Germany’s 10-year yield climbed one basis point to -0.24%.Britain’s 10-year yield increased two basis points to 0.821%.CommoditiesThe Bloomberg Commodity Index slid 1.1%.West Texas Intermediate crude sank to $57.62 a barrel.\--With assistance from Adam Haigh, Samuel Potter, Laura Curtis and Yakob Peterseil.To contact the reporters on this story: Rita Nazareth in New York at firstname.lastname@example.org;Vildana Hajric in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Oil prices fell more than 3% Tuesday afternoon, after Iran’s foreign minister talked about a path to new talks, and President Trump said he’s not looking for regime change in the country.
(Bloomberg) -- President Donald Trump reiterated that he could impose additional tariffs on Chinese imports if he wants, after promising to hold off on more duties in a trade-war truce he reached with China’s Xi Jinping last month.Stocks fell from a record after Trump made the remarks at a cabinet meeting Tuesday at the White House.“We have a long way to go as far as tariffs where China is concerned, if we want. We have another $325 billion we can put a tariff on, if we want,” Trump said. “So, we’re talking to China about a deal, but I wish they didn’t break the deal that we had."Trump and Xi called a tariff ceasefire and agreed to resume trade talks after meeting at the Group-of-20 summit in Japan in late-June, breaking a six-week stalemate. The U.S. president said he’d hold off on a threat to impose tariffs on an additional $300 billion in Chinese imports, and that Xi had agreed to buy large amounts of U.S. farm goods in exchange. But those purchases have yet to happen.U.S. shares snapped a five-day rally following Trump’s remarks Tuesday. Treasury 10-year yields surged earlier in the day after solid economic data added to signs the U.S. expansion is holding up even as central bank officials indicated they’re ready to cut rates.Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer expect to have another call this week with top trade negotiators in China, and the two may travel to Beijing for meetings if the discussions by phone are productive, Mnuchin said Monday.Trump resumed pressure on China through tweets this week about the ongoing trade tensions. On Monday, the president indicated that the U.S. tariffs were having their intended impact by squeezing China’s economy.China released figures this week showing growth in the world’s second-largest economy slowed to 6.2% in the second quarter, the weakest pace since at least 1992 when the country began collecting the data.Meanwhile, Trump last week complained that China wasn’t living up to its promise of increased purchases of American agricultural goods. “China is letting us down in that they have not been buying the agricultural products from our great Farmers that they said they would. Hopefully they will start soon!” Trump said on Twitter.The U.S. expects China to announce significant purchases of from U.S. farmers, Trump’s top economic adviser, Larry Kudlow, told reporters Monday, implying that the step is necessary for trade talks between two nations to advance.The talks broke down in May after the U.S. accused China of reneging on commitments in a draft deal that Mnuchin said had been 90% completed. China has said there’ll be no trade deal unless the U.S. removes all existing tariffs put in place during the year-long trade war.(Updates with Trump comment in third paragraph.)To contact the reporter on this story: Justin Sink in WASHINGTON at email@example.comTo contact the editors responsible for this story: Alex Wayne at firstname.lastname@example.org, Sarah McGregor, Robert JamesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A gauge of global equities fell on Tuesday and U.S. Treasury yields climbed as a stronger-than-anticipated report on retail sales raised the possibility the Federal Reserve could move towards a less dovish stance. U.S. retail sales rose 0.4% in June, as households stepped up purchases of motor vehicles and a variety of other goods. While the Fed is still largely expected to cut rates by a quarter of a percentage point at its July 30-31 policy meeting, expectations for a more aggressive half a percentage point cut have been scaled back.