|Day's Range||2,658.23 - 2,685.44|
|52 Week Range||2,532.69 - 2,940.91|
The Bureau of Labor Statistics will be releasing CPI data, and Cisco holds its annual shareholder meeting. Here's what you need to know in markets on Wednesday.
Markets rose in Europe and Asia after the chief financial officer of Huawei Technologies Co. was granted bail and President Donald Trump said he’d consider intervening in the case if it helps get a trade deal with China. Trump is at odds with Democratic leaders in Congress over funding for a border wall with Mexico. India’s bonds rallied after an ally of Prime Minister Narendra Modi was named as the new central bank chief.
If recent market action feels extraordinary, that’s because it has been. In fact, we’re seeing something that hasn’t happened since 2008, and, according to Dana Lyons of J. Lyons Fund Management, has only occurred 11 times since 1960
Trump, in an interview with Reuters, said trade talks were already underway and that China was buying a "tremendous amount" of U.S. soybeans. China, the largest buyer of U.S. soy, made the first major U.S. soybeans purchase on Wednesday, since Washington and Beijing agreed to a temporary trade truce earlier this month, Reuters reported. Trump also said he would intervene in the case against a top executive at Huawei Technologies if it would help secure a trade deal.
“Although government shutdowns get a lot of press, stocks take them in stride,” said Ryan Detrick, a senior market strategist for LPL. The threat of a stoppage grew more ominous Tuesday during a heated Oval Office meeting where President Donald Trump said he’d “shut down the government” if Congress withheld funding for a border wall. “Markets are looking for companies that grow, and for better or worse, government is overhead in the model of how things work,” said Kim Forrest, a senior portfolio manager at Fort Pitt Capital Group.
U.S. fund investors sold more bonds in December's opening days, the Investment Company Institute said on Wednesday, putting even more of a chill on markets where companies and governments borrow. Investors ...
Stocks are rising Wednesday as a series of news reports suggest that significant headway is being made on U.S.-China trade negotiations.
Twitter is trading at the highest levels since July, when the San Francisco-based company’s forecast for user declines sent the shares tumbling. Twitter’s efforts to purge fake accounts should lead to higher usage and make it more attractive to advertisers, Guggenheim analyst Michael Morris said last week when he initiated coverage with a buy rating.
Mattel (MAT)'s stock price may get a boost in the near future from its decision to capitalize on its range of entertainment franchises. The company is seeking to move towards a capital-light business model through a series of partnerships as it aims to maximize revenue opportunities within its intellectual property portfolio. Its position within the global toy market has improved in recent months.
U.S. stocks jumped on Wednesday, boosted by the technology sector, as indications that Beijing would ease its "Made in China 2025" industrial policy added to optimism fueled by President Donald Trump's upbeat comments on trade. Trump, in an interview with Reuters, said trade talks were already underway and that China was buying a "tremendous amount" of U.S. soybeans.
The S&P 500 rose 32 points, or 1.2%, as of 9:35 AM ET (14:35 GMT), while the Dow increased 289 points, or 1.2%, and the tech-heavy Nasdaq Composite jumped 89 points, or 1.3%.
Global stock indexes jumped Wednesday to reverse some of their big losses from the week before. In the U.S., technology companies rallied and energy companies rose along with crude oil prices. The Russell 2000 index of smaller-company stocks added 26 points, or 1.9 percent, to 1,466.
Shares of Waitr Holdings Inc. rose 5% on Wednesday after the online restaurant ordering and food delivery platform announced a definitive agreement to acquire online food delivery service Bite Squad for $321.3 million in cash and shares. Bite Squad will remain a standalone business "for the foreseeable future," Waitr said in a statement. As of Sept. 30, Waitr had more than 7,700 restaurant partners across 235 cities in the southeastern U.S. Waitr shares are up nearly 19% for the year so far while the S&P 500 index is up 0.1% for the period.
Standing by his 2,850 year-end S&P 500 price target, the Deutsche Asset Management strategist says, "A lot can happen in a month."
Farfetch Ltd. shares jumped 6.3% in Wednesday trading after the luxury fashion platform announced a definitive agreement to acquire Stadium Goods, a premier sneaker and streetwear marketplace for $250 million in cash and Farfetch shares. Stadium Goods was founded in 2015, and has participated on the Farfetch marketplace since April. Stadium Goods will continue as a standalone brand after the acquisition and the leadership team will continue in their roles. The acquisition is expected to be complete in the first quarter of 2019. Farfetch shares began trading in September. The stock is up 14% for the past month versus a 1.8% decline for the S%P 500 index .
Stock markets around the world rose along with U.S. Treasury yields on Wednesday as U.S. President Donald Trump sounded upbeat about a China trade deal and sterling bounced on bets that UK Prime Minister Theresa May would keep her job. U.S. Treasury yields advanced in tandem with Wall Street's gains after Trump said trade talks with China are progressing with discussions underway by telephone and more meetings likely among officials of both countries. In an interview with Reuters on Tuesday, Trump also said he would intervene in the Justice Department's case against a top executive at China's Huawei Technologies [HWT.UL] if it served national security interests or helped to close a trade deal.
Stock markets around the world rose along with U.S. Treasury yields on Wednesday as U.S. President Donald Trump sounded upbeat about a China trade deal and sterling bounced on bets that UK Prime Minister Theresa May would keep her job. U.S. Treasury yields advanced in tandem with Wall Street's gains after Trump said trade talks with China are progressing with discussions underway by telephone and more meetings likely among officials of both countries.
With the production cut agreement that’s set to be implemented in 2019, US crude oil’s downside could be limited. Traders think that the recent flow of funds from oil to the natural gas market might stop, which could be a negative development for natural gas prices.
Shares of Roku Inc. are bucking an uptrend for tech stocks on Wednesday morning, after Needham analyst Laura Martin lowered her price target to $48 from $85 while maintaining a buy rating on the shares. Martin also reduced her user additions, revenue, and earnings estimates for the upcoming fiscal year, citing tensions with China that might impact how many Chinese-made televisions get sold in the U.S. Roku licenses its technology to smart TVs made by TCL and other Chinese companies. Martin remains upbeat about Roku's general prospects, however, writing that the company's platform should hold appeal for advertisers who wish to reach cord cutters. She's also encouraged by improving engagement trends. Roku's stock is down 0.5% in Wednesday morning trading, and it's off 31% so far this year. The S&P 500 is little changed on the year.
Once again, ideas that trade talks with China might yield some fruit appeared to be the motivating factor, in part because of comments by President Trump and reports that China might loosen restrictions on auto imports. Trump said he might be willing to intervene in the criminal case of a top Chinese executive arrested last week if it would help reach a trade deal. A leadership challenge to Prime Minister Theresa May seems possible, according to media reports, after she postponed voting on a Brexit measure earlier this week.
Ever since the dawn of his presidency, Wall Street has had to decide which Donald Trump it was dealing with — the “good” Trump or the “bad” Trump. The “good” Trump cut corporate taxes and regulations, while the “bad” Trump shut down immigration, bullied CEOs about keeping jobs in the U.S., and threatened tariff wars with key trading partners. Over the past few weeks, the “bad” Trump has returned, and stocks have reeled.
Stocks opened sharply higher Wednesday, lifted by continued optimism over renewed U.S.-China trade talks. The Dow Jones Industrial Average jumped 279 points, or 1.2%, to 24,649, while the S&P 500 rose 1.1% to 2,665. The Nasdaq Composite advanced 1.3% to 7,121. President Donald Trump, in an interview with Reuters, said he was willing to intervene in the Justice Department's case against an executive of Chinese company Huawei if it would help clear the way to a trade deal with Beijing. Also, The Wall Street Journal reported that China is preparing policy changed designed to increase access to its markets for foreign companies.