|Day's Range||2,621.30 - 2,674.35|
|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.
With more jobs opening up and wages increasing, one analyst says he is bullish on the stock market and the U.S. economy for the next few years. Yahoo Finance’s Alexis Christoforous and Co-Founder Thomas Fross of Fross & Fross Wealth Management discuss.
Theresa May is meeting with top EU leaders today to try to tweak the Brexit deal and make it more palatable for members of parliament. Yahoo Finance’s Alexis Christoforous, Editor-in-Chief Andy Serwer and Alanna Petroff examine the details.
The problem doesn’t seem to be earnings, outlook, valuation or an outbreak of world peace. That could mean its time to buy stocks like Lockheed Martin and Raytheon.
London’s FTSE 100 added 1.1 per cent, with Frankfurt’s Xetra Dax 30 up 1.3 per cent and the Europe-wide Stoxx 600 up 1 per cent. Miners led, with hopes for improving trade relations soothing fears on the outlook for global growth.
U.S. equity futures and European shares climbed following big gains in 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. In the U.K., markets took news that Theresa May will face a vote of confidence from the Conservative Party she leads in stride. Trump is at odds with Democratic leaders in Congress over funding for a border wall with Mexico.
Dow futures point to a higher open for Wall Street later as optimism over the crisis involving a jailed Huawei executive takes a more positive turn, and Trump says he’d intervene if needed.
If you’re using economic indicators to determine your allocation to the stock market, you will most certainly be well behind the curve.
Stock markets rallied on Wednesday as U.S. President Donald Trump sounded upbeat about a trade deal with China, while sterling rose off 20 month lows as Prime Minister Theresa May vowed to fight a challenge to her leadership. In an interview with Reuters, Trump said talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal. 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 would serve national security interests or help close a trade deal.
At around 6:00 a.m. ET, Dow Jones Industrial Average futures rose 217 points, indicating a positive open of more than 252 points. Futures on the S&P 500 and Nasdaq Composite were also seen relatively upbeat. The moves in pre-market trade come after Trump said talks between Washington and Beijing were ongoing and confirmed he would not raise tariffs on Chinese imports until he was sure about a comprehensive trade agreement.
President Donald Trump tells Reuters he would meet with China's Xi in order to close a trade deal and would intervene in Meng case if necessary. Bullish sentiment capped by news that Prime Minister Theresa May will face a leadership challenge from her Conservative party later today that could deepen the country's political crisis.