|Day's Range||2,823.86 - 2,846.16|
|52 Week Range||2,346.58 - 2,940.91|
Equities extended declines after new reports showed that the manufacturing industries in the U.S. and Germany manufacturing industry slid last month, fueling concerns of a global slowdown.
U.S. stocks rose on Thursday, with advances in Apple (AAPL) shares helping to buoy the indices.
U.S. manufacturing sector Flash Purchasing Managers' Index (PMI) came in at 52.5 in March, well below the estimates of 53.6, according to economists polled by Reuters. "Today's economic numbers indicate the strong relationship that China has with Europe. The Federal Reserve on Wednesday abandoned projections for any interest rate hikes this year, as policymakers see a U.S. economy that is rapidly losing momentum.
All of the major equity indices closed higher Thursday with positive internals on both exchanges. Of note on the charts, the DJIA closed marginally above its near-term resistance while the Nasdaq 100 (see above) did so with gusto. Also, the Dow Jones Transports closed back above its 50-day moving average.
The Dow Jones Industrial Average fell as weaker-than-expected manufacturing data in the U.S. and Europe renewed fears of slowing global growth. tumbled 4.3% after the sports apparel company posted weaker-than-expected third quarter sales in its key North American market. were higher despite the luxury jewelry retailer missing Wall Street's fourth-quarter sales expectations.
Wall Street's main indexes extended losses on Friday after the United States joined the euro zone in reporting weak manufacturing activity last month, fueling fears of a slowing global economy. U.S. manufacturing sector Flash Purchasing Managers' Index (PMI) came in at 52.5 in March, well below the estimates of 53.6, according to economists polled by Reuters. "Today's economic numbers indicate the strong relationship that China has with Europe.
The difference between 10-year and 3-month Treasury yields, a reliable recession indicator, turned negative for the first time since 2006.
The stock market was squarely lower with the Dow Jones industrials falling more than 100 points. Boeing and Nike stocks were weak in morning trade.
Avon Products Inc. shares climbed 6% in early trade Friday, after the Wall Street Journal said the company has discussed a sale to Brazilian rival Natura & Co., citing a person familiar with the matter. The talks include the possibility that Natura would acquire Avon's North American business, which is a separate company, in addition to the listed company which operates around the world. Avon sold its North America business to private-equity firm Cerberus Capital Management LP in 2016. Avon shares have gained 91% in 2019 so far, while the S&P 500 has gained 13%.
Is Oil's Rise Purely Based on Supply Deficits?US equity indexesOn March 14–21, US equity indexes had the following correlations with US crude oil May futures:the Dow Jones Industrial Average (DIA): -74.8%the S&P 500 (SPY): -68.1%the S&P
The S&P 500 Index extended losses early Friday, with materials and bank shares leading the benchmark lower. Banks and industrial goods shares led the Stoxx Europe 600 lower after German purchasing manager data badly missed forecasts. Sovereign bonds in Europe quickly reversed earlier losses and the euro erased a modest gain.
Stocks are in retreat Friday, after a downbeat round of European data underlined worries about global growth prospects.
"Don't fight the Fed" is such a wizened market phrase that the temptation is to ignore it. Between late September and Christmas 2018, the S&P 500 index fell by 20 percent. The sentiment was reinforced following the Fed's March meeting, where they indicated no rate increases are coming in 2019.
While Nike earnings beat expectations, the outlook for the next quarter disappointed investors, with the company calling for “low-single-digit” revenue growth.
The latest on developments in financial markets (all times local): ___ 9:35 a.m. Stocks are opening lower on Wall Street led by declines in banks and industrial companies. Citigroup fell 2.2 percent early ...
U.S. stock indexes opened lower on Friday as signs of weakness in Europe's economy underscored worries about sluggish expansion outside of America. The Dow Jones Industrial Average fell 120 points, or 0.5%, at 25,847, pushing its weekly gain into negative territory, according to FactSet data. Meanwhile, the S&P 500 index retreated 0.4% to 2,844, and the Nasdaq Composite Index declined 0.4% to reach 7,807. Both the S&P 500 and the Nasdaq were holding on to solid weekly gains, with the broad-market S&P up 0.8%, while the tech-heavy index is up 1.5% so far this week. Setting the tone for early action on Wall Street was a report on purchasing managers, which pointed to a further slowdown in activity during March after tentative signs of a rebound earlier in the year. The news comes after the Federal Reserve on Wednesday downgraded its economic outlook for the year in the U.S. to 2.1% from 2.3% and signaled that there would be no further increases to interest rates in 2019, citing weakness abroad. Investors also are watching developments surrounding Brexit, with European Union leaders allowing U.K. Prime Minister Theresa May to postpone Britain's deadline for an exit from Europe's trade bloc beyond March 29, but warned that the country could still crash out.
Stocks stumbled lower Friday as Dow Jones stock Nike weighed on early trade, while the market digested Thursday's bullish advance.
BlackRock Inc. said Friday it has agreed to acquire eFront from private-equity firm Bridgepoint and eFront employees for $1.3 billion in cash. eFront is an alternative investment management software company with more than 700 clients in 48 counties. "The combination of eFront with Aladdin, BlackRock's investment operating platform used by more than 225 institutions around the world, will set a new standard in investment and risk management technology," BlackRock said in a statement. The deal will be funded with a mix of existing cash and debt and will be minimally dilute to earnings per share. Separately, BlackRock said it has agreed to buy about 3.1 million of its own shares for $412.84 a share in a private transaction under its existing buyback program. Shares fell 1% in early trade and are down 20% in the last 12 months, while the S&P 500 has gained 8%.
To find it you must drill into the earnings statements of American companies -- beyond sales and earnings and down to the lines that track profitability and pricing power. It’s in the row labeled gross margin, which the terminal defines as the percentage of revenue a company keeps after the costs of producing the goods and services they sell. Long story short, for the majority of S&P 500 constituents, it’s going up, evidence most companies still are managing to raise prices faster than wages and raw material costs eat into sales.