|Day's Range||2,927.11 - 2,940.91|
|52 Week Range||2,488.03 - 2,940.91|
According to the GuruFocus All-in-One Guru Screener, the following stocks have outperformed the Standard & Poor's 500 index over the past 12 months and were bought by gurus during the last quarter. Warning! GuruFocus has detected 3 Warning Sign with INGN. Inogen Inc. (INGN) has a market cap of $5.47 billion.
Albert Edwards, global strategist at Société Générale, cautions that the moment of reckoning for stocks is near and investors should stop buying into the fantasy of a robust economy.
The U.S. stock market is back at record levels, but investors aren’t in a celebratory mood. According to the weekly survey of sentiment conducted by the American Association of Individual Investors, market participants are feeling somewhat tepid about the market, despite a lengthy move higher that took both the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) to records on Thursday, a move that represented the first such milestone for the Dow since January.
A key driver in the surge of stock buybacks was last December’s tax overhaul, which lowered companies’ tax bills and freed up funds that many companies are using for share repurchases. S&P 500 companies bought back a record $189 billion of their own shares in the first quarter, and a similar number—if not more—is expected for the second quarter, according S&P Dow Jones Indices. Stock buybacks make profits appear better by boosting per-share earnings, a metric that investors frequently use to justify a company’s stock price.
Based on Friday’s price action and the close at 2933.75, the direction of the December E-mini S&P 500 Index is likely to be determined by trader reaction to 2932.00.
DEEP DIVE On a mixed day for U.S. stocks, the Dow Jones Industrial Average hit another new closing record Friday. The Dow was up 0.3% on Friday and 2.3% for the week to close at 27,743.50 points. The S&P 500 Index (SPX) was little changed Friday and up 3.
DEEP DIVE Bloomberg on Thursday reported that its Consumer Comfort Index had risen to its highest level since 2001. With other signs of robust U.S. economic growth, this is a good time to highlight the makers and sellers of consumer products that have already been posting strong sales growth.
Neither is Google or Netflix. At least that's the view of S&P Dow Jones, the group that classifies stocks into various sector groups that investors around the world track and monitor in their private and public portfolios. S&P Dow Jones is overhauling its Global Industry Classification Standard, with the changes taking effect Monday, and more than a few big name stocks are set to move from their original labeling in the biggest shake-up since the dot-com bubble.
Reading market forecasts for the November congressional elections, you get the sense something is missing. While Wall Street is awash with efforts to frame outcomes as the vote approaches, there’s a discernible vagueness when you get to the part where strategists say what stocks will do. You may recall a certain trepidation in the air over how markets would receive a Donald Trump victory in November 2016.
After the close on Friday, S&P Dow Jones Indices was poised to reorganize several of its sectors and relaunch its telecommunications index as a new communication services sector. Of the S&P technology sector's 10 biggest percentage decliners of the day on Friday, three were companies that are joining the new communication sector. Twitter was the biggest loser, with a 4.5 percent drop, while Facebook was the fourth-biggest decliner, with a 1.9 percent drop, and Alphabet saw the seventh-biggest loss, with a 1.6 percent drop.
The S&P 500 initially fell during the week but continues to find support as we bounced back above the 2900 level, forming a bullish looking candle with high-volume by the end of the week.
With the quadruple witching on Friday, there are a lot of options expiring. Because of this, I think a lot of people simply stayed out of the market, which quite frankly was probably the best move.
MSCI's gauge of stocks across the globe gained 0.30 percent to hit the highest level since March 13. Sterling tumbled and pushed the dollar up after British Prime Minister Theresa May said Brexit talks had hit an impasse and that the European Union must offer an alternative plan after the bloc's leaders rejected her plans. The pound fell 1.42 percent, marking its biggest daily loss since June 2017.
Industrials led the Dow to a new closing high on Friday ahead of Monday's major sector reshuffle, capping a week that largely shrugged off trade worries. Trading volume spiked to the highest level since Feb. 9 in anticipation of the S&P 500 sector change, when telecoms will be folded into a new sector called communications services, along with heavy-hitting stocks such as Facebook Inc and Walt Disney Co. While the Dow closed higher, the S&P 500 and the Nasdaq ended the session in negative territory.
An overhaul of Wall Street's technology and media sectors coincided with the quarterly expiration of futures and options, bringing a burst of volume to trading late on Friday that could continue in the days that follow. After the close on Friday, S&P Dow Jones Indices was poised to reorganize several of its sectors and relaunch its telecommunications index as a new communication services sector. Of the S&P technology sector's 10 biggest percentage decliners of the day on Friday, three were companies that are joining the new communication sector.
The Dow Jones Industrial Average on Friday notches a second straight all-time high, but a slump in megacapitalization technology and internet-related stocks weigh on the broader market, pressuring the Nasdaq.
On September 26, the Fed is widely expected to raise the federal funds rate by a quarter-point. This will push the funds target to 2 percent to 2.25 percent, where it last was more than 10 years ago. It was a light day on Friday as far as U.S. economic data was concerned. Flash Manufacturing PMI came in better-than-expected. Flash Services PMI was below the forecast. The flash reading of IHS Markit’s U.S. Composite PMI Output Index for September was 53.4, down from 54.7 last month and the lowest it has been in 17 months.
Rising interest rates were one of the reasons given for the February correction. Now they’re viewed as a reflection of a stronger economy.
Technology isn’t the only part of the market to boom over the past decade. Defense companies have outperformed as well. It may be time for caution.
Is Wall Street ignoring the potential for simmering trade conflicts with China to intensify, upending the stock market’s newfound buoyancy?
The 10th anniversary of the financial crisis is a natural time to fret about the next bust, but betting against the market is usually a loser’s game. Record stock prices, bubbling trade wars, Donald Trump’s legal peril and sputtering emerging markets give some teeth to fears of another market rout.
Sept. 19: Trade has dominated the news this week as the Trump administration announced plans to put 10% tariffs on $200 billion of goods from China beginning next Monday, with the rate increasing to 25% on Jan. 1. China retaliated with $60 billion in tariffs on U.S. goods.
The catalyst driving stocks higher this week was an easing of tensions over the trade dispute between the United States and China. The trade dispute did escalate with both the U.S. and China imposing new tariffs on each other, but investors felt the new tariffs were less than feared.