|Day's Range||2,832.09 - 2,853.86|
|52 Week Range||2,346.58 - 2,954.13|
Presidential hopeful Senator Kamala Harris has revealed her plan to end the gender pay gap, with a proposal requiring larger companies to ensure men and women are paid the same for the same work. Yahoo Finance's Zack Guzman and Brian Cheung are joined by Michelle McKinnon, Payne Capital Management Senior Financial Adviser, to discuss.
Neither side seems to be willing to move on trade tensions but what does it mean for future market movement? Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi and Sylvia Jablonki Direxion Managing Director discuss.
Shares of Sprint Corp. took an afternoon dip Monday, but was still 16%, after Bloomberg reported that the Department of Justice is leaning against approving T-Mobile U.S. Inc.'s buyout of the telecommunications company. The stock had rocketed as much as 27.8% in intraday trade Monday, after the Federal Communications Commission Chairman Ajit Pai said he planned to recommend the merger, after the latest commitments made by the companies. The Bloomberg report, which cited one person familiar with the DOJ review, said the reason the DOJ was leaning against approving the merger was because the remedies proposed by the companies don't go far enough to resolve antitrust concerns. Meanwhile, T-Mobile U.S.'s stock was up 2.5%, after being up as much as 7.4% earlier. The SPDR Communications Services Select Sector ETF was down 1.7% and the S&P 500 fell 0.8%.
U.S. stocks retreat Monday, though off session lows, as souring U.S.-China trade relations continue to weigh on market sentiment with technology shares taking the brunt of the selling pressure.
Essent is still in a situation where a stock breakout is possible. But take a look at the past two breakouts. There's a lesson to learn.
Analyst Noah Poponak upgraded shares of the aerospace-and-defence company to Buy from Neutral. He sees investors coming back to General Dynamics stock as the company ramps up production of its new private jets.
Imperial Capital reiterated its outperform rating on Walt Disney Co. stock on Monday, ahead of the entertainment giant's next investor day scheduled for Wednesday that will introduce analysts to the new Star Wars Galaxy Edge theme park. Analyst David Miller maintained his stock price target of $147, or 9% above its current trading level, and said he expects the park due to open at the end of the month in Anaheim, Calif. to enjoy extremely high volumes, which are already built into his park estimates for the third and fourth fiscal quarters, as well as for fiscal 2020.The Anaheim park is smaller in scale than the one Disney is building in Orlando, Fla, but it means the company will have the benefit of two big park events on both coasts in one calendar year. Outside of the park news, Disney is facing higher losses at Hulu, in which it now owns a 70% stake, with a new put/call arrangement with Comcast Corp. for the remaining shares. Miller shaved 4 cents off his fiscal 2020 GAAP EPS estimate to reflect the bigger stake. Disney has a path to profitability for the streaming service, which has 25 million subscribers. Disney shares were down 1.2% Monday, but have gained 22% in 2019 to date, while the S&P 500 has gained 13% and the Dow Jones Industrial Average , which counts Disney as a member, has gained 10%.
U.S. equities sank as the fallout from the White House’s moves against Chinese telecom giant Huawei battered technology shares and stoked trade jitters. Ten-year Treasury yields rose before a slew of U.S. data this week as well as Federal Reserve policy-meeting minutes on Wednesday. Markets remain on edge as the trade war develops, with the impact of President Donald Trump’s threats to choke Huawei Technologies Co. reverberating across the global supply chain on Monday and hitting some of the biggest component-makers.
Mike Wilson, chief U.S. equity strategist at Morgan Stanley, writes in a research note dated Sunday, that the 2018 market rally, subsequent correction and early-2019 recovery have masked the fact that since June, the defensive utilities, real estate and consumer-staples sectors have led the S&P 500 index on a total return basis.
Managers who are frugal, both in their personal lives and in their compensation, generally run companies with higher returns on capital than those overseen by the most highly compensated managers
Technology companies led a broad slide in stocks Monday afternoon on Wall Street, extending the market's losses into another week.
Apple Inc slumped 3.4%, weighing the most on the three main indexes and driving down the S&P 500 technology sector 1.51%, the biggest decliner among the six S&P sectors trading lower. U.S. suppliers of Huawei, including Qualcomm, Micron Technology and Broadcom Inc, fell between 3.2% and 5.3%, while the Philadelphia Semiconductor Index slid 3.19%, its lowest level in over two months. "This whole thing is going to have an impact on earnings, consumers will probably shift buying habits and it will also turn up pressure on the U.S. and China to reach a deal sooner," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
Utilities: Analyzing Movers and Shakers Last WeekUtilities continued to beat broader marketsTrade war issues continued to weigh on broader markets last week. The S&P 500 fell 0.8%, while the utility sector rose 1.4% for the week ending May 17.
Starbucks Corp. said Monday that it is opening a store designed for the deaf and hearing impaired in China, the first in that country but third of its kind. The store, which will be located near the Guangdong Disabled Association and Guangdong Deaf People Association, will offer jobs for the deaf community. Starbucks currently has more than 100 staff members with physical challenges in China. Starbucks' other two signing stores are in Malaysia, which opened in 2016, and Washington, D.C., which launched in 2018. Starbucks stock is up 19.5% for the year to date, outpacing the S&P 500 index , which is up 13.5% for the period.
Shares of optoelectronics company NeoPhotonics Corp. were up more than 10% in Monday trading after B. Riley analyst Dave Kang upgraded the stock to buy from neutral, arguing that the uncertainty over a U.S. ban on sales to Huawei Technologies Co. has been "de-risked." Shares dropped more than 30% last week after the ban was announced. "One of the reasons for our renewed bullishness is that we believe the Huawei ban could be another leverage point for President Trump, who is set to meet with China's President Xi at the G20 Summit in late June, and as such, we believe the ban could be fairly brief," Kang wrote. "Furthermore, we believe the Huawei ban will pressure NeoPhotonics management to weigh strategic options, including the potential sale of the company." The upgrade comes as fellow optoelectronics company Lumentum Holdings Inc. lowered its outlook as a result of the Huawei ban and as companies like Alphabet Inc.'s Google began to comply with the order. NeoPhotonics shares are still off 35% on the year, as the S&P 500 has risen 14%.
With seemingly no end in sight to tariff tensions, more investors are feeling rattled about the prospect of a prolonged trade war, which many worry could hurt the global economy and corporate profits.
The U.S. economy is in no danger of imminent recession, but it appears to be facing tighter caps on just how fast it can grow. Here’s why.
Stocks indexes have been closing near records, but money markets are implying a 60% chance of recession in the next 12 months. They both can’t be right.