|Day's Range||2,709.54 - 2,721.27|
|52 Week Range||2,397.99 - 2,872.87|
The Wall Street Journal says the issue of car manufacturing has emerged as a major sticking point in the NAFTA talks. Yahoo Finance’s Alexis Christoforous, Melody Hahm, and Dion Rabouin discuss points of contention.
The S&P 500 fell ~0.3% to 2,724.44 on May 22 due to the decline in energy stocks. Uncertainty about the outcome of trade negotiations between the US and China also pressured the S&P 500. Six out of the ten key sectors in the S&P 500 dropped on May 22.
The Russell 2000 Index (^RUT) is up 6.5% this year, compared with 2% for the S&P 500 Index (^GSPC) of large-cap stocks. Small-cap investing maven Jim Callinan has his own theory on why small is beautiful — small-cap growth, that is. “There are lot of ways for growth stocks to continue to do well in an economy that is moribund.
Wednesday's action in the stock market could tell us a lot. While stocks are trading lower Wednesday morning, the current state of the charts and data suggest we maintain our near-term "neutral/positive" outlook for the major equity indices, with the "neutral" aspect largely due to stochastic levels and valuation.
The S&P 500 and Nasdaq were down for the fourth time in five trading sessions. Stocks were falling on Wednesday, May 23, and global equities tumbled as sentiment was dented by comments from Donald Trump that cast doubt on a planned nuclear summit with North Korea and ongoing trade talks with China. Trump told reporters in Washington there was a "substantial chance" his June 12 meeting in Singapore with North Korea's Kim Jong Un may not take place, given the change in tone the regime has displayed since criticizing a joint U.S.-South Korea military exercise last week.
Does the US Steel Industry Look Healthy This Month? President Donald Trump has exempted several regions from the stringent Section 232 tariffs that were imposed on national security grounds. While countries such as Canada, Mexico, Brazil, and Germany managed to get exemptions, Japan was a notable exception.
Red Robin Gourmet Burgers Inc. shares fell to a six-month low, sinking 17.6% in Wednesday trading, after the burger chain reported earnings that missed expectations but analysts remain bullish. Raymond James analysts held on to their outperform rating despite the plunge, calling the reaction "overdone" for a number of reasons, including same-store sales, which fell 0.9% driven by a decrease in average check, but exceed broader industry trends. Canaccord Genuity held on to its buy rating, but also cut its price target to $65 from $75.