|Day's Range||2,657.99 - 2,682.86|
|52 Week Range||2,352.72 - 2,872.87|
Market recap for Monday, April 23rd
Wall Street is also seen higher, with E-Minis for the S&P 500 gaining 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent following two straight days of declines that took it to its lowest since April 9. Japan's Nikkei added 0.9 percent as a lower yen supported export-heavy firms.
Wall Street is also seen higher, with E-Minis for the S&P 500 (ESc1) gaining 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent following two straight days of declines that took it to its lowest since April 9. Japan's Nikkei (.N225) added 0.9 percent as a lower yen supported export-heavy firms.
TOKYO (AP) — Asian shares mostly rose Tuesday as a surge in U.S. bond yields pushed the value of the dollar higher against other major currencies.
Everyone knows the old chestnut that hedge funds are "a compensation scheme masquerading as an asset class," but arguably that underestimates the power of compensation schemes to transform asset classes. If ____ goes up, I give you 50 percent of the profits (and keep 50 percent for myself). If ____ goes down, I eat all the losses and give you your money back.
Global stocks edged higher Tuesday, pulling European shares and U.S. equity futures into positive territory, even as Treasury yields continue to flirt with 3% and oil surged past $75 a barrel, ensuring inflation concerns will remain foremost in investors' minds in days and weeks ahead. U.S. equity futures are also expected to start the session in positive territory after a mixed set of closing levels Monday, with contracts tied to the Dow Jones Industrial Average marked 55 points higher while those linked to the broader S&P 500 trading 6.25 points, or 0.25%, to the upside.
Futures rose modestly Tuesday morning as Alphabet stock held steady despite strong earnings. Stock indexes are stuck below 50-day lines as Apple and chip stocks keep falling and Treasury yields rise.
Sell a lot at a narrow profit margin, and you have a business model so well known it’s become part of the language: pile ’em high and sell ’em cheap. There’s a vital question for investors: Will those margins fall now that wage pressures are on the rise? The consensus forecast for the S&P 500 has after-tax adjusted profit margins hitting 11.1%, a new post-Lehman record, according to John Butters, a FactSet analyst.
The S&P 500 was largely unchanged Monday as a stock-market rally that once appeared unstoppable entered its longest stretch of vulnerability since the financial crisis. Monday’s increase of less than 0.1% marked the 51st trading day since the index suffered a correction—a decline of at least 10% from a recent high—its longest stretch in correction territory since 2008. Investors tepidly traded most of the day, with the fewest number of shares changing hands since Dec. 29.
Rising interest rates are likely to sting the stock market, but a 3 percent or even higher 10-year yield isn't enough to cause a meltdown.
The S&P 500 just recorded a dubious milestone. The broad-market benchmark has put in its longest run in correction territory since May 1, 2008, according to WSJ Market Data Group. The S&P 500 index (^GSPC) has been in correction territory, defined as a decline of at least 10% from a recent peak, for 51 trading sessions, including Monday’s lackluster finish for the index.
Hysteria over a flattening yield curve saw a brief reprieve after a sharp selloff in long-dated government bonds sent the 10-year Treasury yield in striking distance of 3%, a key psychological level. See: Stock investors are freaking out about bonds ending a 3 decadelong bull run—but should they be? Market participants had blamed the swiftness of the bearish move on the oil prices(CLM18.NYM) nearing $70 a barrel which drove 10-year break-even rates, or inflation expectations, over the next decade, close to a more than three-year high of 2.19%, according to Tradeweb data.
Government bond yields climbing and a shrinking gap between short-term and long-term Treasury rates have prompted some consternation on Wall Street, driving equity prices lower as investors fret about what these dynamics mean for U.S. economic growth as it enters its ninth year of expansion. Fears about a so-called flattening yield curve have taken center stage, with investors fixated on the gap between the 2-year Treasury notes (XTUP:TMUBMUSD02Y=X) and the 10-year benchmark (XTUP:TMUBMUSD10Y=X), which last Tuesday touched the narrowest point—41 percentage points—in more than a decade. The yield curve is often tracked as a measure of sentiment about the economy’s overall health.
Henry Schein (HSIC) outpaced all other S&P 500 components on Monday, on news that it will spin off the Animal Health business. Henry Schein gained $4.72, or 6.8%, to $73.79. The S&P 500 rose 0.15 points, ...
By Stephen Culp NEW YORK (Reuters) - Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against ...
Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against deeper losses. Tech stocks dragged ...
U.S. stocks end the session little changed on Monday as investors grappled with rising bond yields and a mixed bag of earnings reports.