|Day's Range||2,779.11 - 2,794.20|
|52 Week Range||2,346.58 - 2,940.91|
The Dow posted its ninth consecutive weekly advance, its longest weekly winning streak in nearly 24 years, as investors continued to digest commentary surrounding progress toward a U.S.-China trade deal.
Warren Buffett’s annual letter to Berkshire Hathaway shareholders will be released Saturday morning and pored over by investors around the world. Here’s what to expect from the warts-and-all missive.
David Stockman, the so-called “Father of Reaganomics,” is at it again in the most recent prognostication of doom for the markets and the broader economy.
The steady rise in stock prices may be masking trouble ahead. Markets face testimony from Jerome Powell, Trump’s visit to Vietnam, and a looming trade deadline.
THE TRADER In a fairly tranquil week for stocks, the major U.S. indexes edged higher. The Dow industrials finished the four-session trading week, shortened by the Presidents Day holiday, at 26,031.81, up 0.
U.S. stocks extended their winning streak to nine consecutive weeks and are on track for their biggest early-year advance in three decades, a dramatic turnaround that has given investors renewed faith in the nearly 10-year bull market. A more flexible approach to monetary policy from the Federal Reserve, easing U.S.-China trade tensions and a better-than-feared corporate earnings season have encouraged investors to ease back into the stock market, following the fourth quarter’s bruising selloff. The Dow Jones Industrial Average and technology-heavy Nasdaq Composite, along with the small-cap Russell 2000, notched their ninth straight weekly gain, while the S&P 500 rose for the fourth consecutive week.
Feb. 21: Risk markets continue to probe higher, with the SPX index rising almost exactly 2% since we last wrote, two weeks ago, reaching 2784.70 on Wednesday for its highest close since Dec. 3, 2018, and effectively completing the right-hand side of the V tracking shape.
Should stock buybacks be regulated? Senators Chuck Schumer (D-NY) and Bernie Sanders (I-VT), who is running for president as a socialist, evidently think so. According to the two senators, the 1950s-1970s were a golden age for workers because "American corporations shared a belief that they had a duty not only to their shareholders but to their workers, their communities and the country that created the economic conditions and legal protections for them to thrive." They add that in recent decades, corporate managements and their boards of directors have become greedy, focusing on maximizing "shareholders earnings" at the expense of workers' earnings.
T. Rowe Price asset allocator and fund manager Charles Shriver also likes emerging market stocks and debt, but is wary of energy shares
The small-cap Russell 2000 index exited correction territory last week. It was the last of the major U.S. market indices to do so.
As trade talks between the U.S. and China continue, Parag Khanna, the author of “The Future is Asian”, says it is likely President Trump will accept China’s concessions and reach a deal because American industry is telling him “we are in trouble.” Yahoo Finance’s Alexis Christoforous speaks to him.