|Day's Range||2,714.98 - 2,754.60|
|52 Week Range||2,532.69 - 2,940.91|
About one-third of investors polled by Bank of America Merrill Lynch this month think the S&P 500 has peaked for this cycle, a sign that amid continued choppy markets investors are losing the faith.
U.S. Commerce Secretary Wilbur Ross talks with Yahoo Finance editor-in-chief at the latest All Markets Summit in Washington, D.C.
Global stocks retreat as of the world's biggest economies shrink in the wake of world trade disputes and oil prices extend their longest losing streak on record. U.K. Prime Minister Theresa May has agreed the text of a deal that will take Britain out of the EU, but needs to first convince opposition lawmakers and rebels in her own party if she is to avoid a government collapse and fresh national elections. U.S. equity futures slide as investors pullback from risk markets in the wake of macro economic weakness and political uncertainty, with the Dow called modestly lower ahead of third quarter earnings from Macy's and Cisco.
TOKYO (AP) — Global shares were mostly lower Wednesday, after the steepest drop in oil prices in more than three years put investors in a selling mood on Wall Street.
The big overhang could be the earnings results of tech behemoth Tencent Holdings Ltd., slated to be released after Wednesday’s market close. The industry accounts for almost a fifth of Asia’s stock index and so far, several Chinese tech companies have reported worse-than-expected results. Add to that the fact that at least 11 brokers tracked by Bloomberg have cut their price targets for Tencent this month.
BAML said its poll showed allocation to the global tech sector collapsed to the lowest level since February 2009, with just a net 18 percent of investors now overweight the sector. "We remain bearish, as investor positioning does not yet signal 'The Big Low' in asset markets," Michael Hartnett, chief investment strategist at BAML, told clients. Britain was the most "disliked" region for equity investors, with a net 27 percent of respondents underweight, versus 19 percent underweight in October.
The Stoxx Europe 600 Index was dragged down by energy shares as good news for the auto sector wasn’t enough to offset the impact of lower oil. Italian bonds fell after the government submitted a defiant budget to the European Commission on Tuesday. The oil rout has arrived at an already challenging time for global equities, which have been digesting a downturn in the tech sector, the ongoing trade spat between the two biggest economies as well as a higher-rate regime.
Energy stocks were exposed to the lurch lower in oil prices, as Brent crude’s descent into a bear market on fears about the outlook for demand continued, dragging word equities indices lower. Early US futures pointed to further decline for Wall Street, 0.2 per cent for the S&P 500 after it fell by the same margin overnight.
Oil prices extended a steep slide on Wednesday on the back of worries about weakening world demand and oversupply, while global shares sagged as energy sector strains heightened anxiety about a slow down in the global economy. U.S. West Texas Intermediate (WTI) crude futures dived 7 percent the previous day, suffering their biggest one-day loss in more than three years. Concerns about global growth pushed MSCI's broadest index of Asia-Pacific shares outside Japan down 0.5 percent.
of her premiership on Wednesday as she challenges her divided cabinet to back a draft Brexit treaty and attempts to face down Conservative Eurosceptics. Mrs May now has to sell it to her cabinet and parliament.