|Day's Range||2,729.44 - 2,775.77|
|52 Week Range||2,532.69 - 2,940.91|
Real-estate marketplace Zillow Group Inc. said Monday it is expanding a marketing agreement with Realty Executives International to include listings from Canada on its mobile app and website. The company said it has more than 100 million visits from non-U.S. home seekers a year, a large number of whom are from Canada. Listings from several Canadian brokerages will soon be live on Zillow with a description and photos of each property with listing agent. Zillow shares were not yet active premarket, but have fallen 5.8% in 2018, while the S&P 500 has gained 3.5%.
TOKYO (AP) — Global stocks mostly slipped Monday as investors continued to worry about global trade and prospects for economic growth. The price of oil rose amid tensions over Saudi Arabia, a major crude exporter.
U.S. stock futures pointed to a lower open on Monday, mirroring global stocks, as growing tensions between Western powers and Saudi Arabia added to worries over rising borrowing costs and the impact of ...
Mall real estate investment trust Kimco Realty Corp. said Monday it expects to benefit from the bankruptcy filing by Sears Holdings Corp. . The company said its exposure to Sears is limited to 14 leases, eleven of which are for Kmart stores, equal to about 1.9% of its total gross leasable area. "Today's announcement may afford us the long-awaited opportunity to recapture boxes with significant mark-to-market potential in our core markets, and sparks several new redevelopment opportunities within our portfolio," Kimco Chief Executive Conor Flynn said in a statement. Sears and Kmart pay among the lowest rents of any tenant in Kimco's portfolio, he said, at an average base rent of $5.25 per square foot, compared with the portfolio average of $15.95. The 14 locations have good demographics, with a population of 129,000 within a three-mile radius and average household income of $88,000. Kimco shares were not yet active premarket, but have fallen 18.4% in 2018, while the S&P 500 has gained 3.5%.
Futures for Canada's main stock index dipped on Monday, after world markets reacted negatively to rising tensions between Western powers and Saudi Arabia over the disappearance of journalist Jamal Khashoggi, ...
EyePoint Pharmaceuticals Inc. shares soared 8% in premarket trade Monday, after the company said the U.S. Food and Drug Administration has approved its Yutiq implant for the treatment of uveitis, a leading cause of blindness. Yutiq is a micro-insert that is designed to release fluocinolone acetonide over a three-year period and that can be administered in a doctor's office. :Chronic non-infectious uveitis affecting the posterior segment of the eye is the third leading cause of blindness in the U.S.," Chief Executive Nancy Lurker said in a statement. The company is expecting to launch the product in the first quarter of 2019. EyePoint shares have gained 199% in 2018, while the S&P 500 has gained 3.5%.
Gold, Miners Have Surged on the Market Rout—What’s the Upside? In the current sell-off, technology companies (XLK) (SMH) are leading the decline. Investors’ stretched valuation concerns have been especially acute in the US tech space, meaning that tech stocks are much more vulnerable to higher interest rates.
On October 11, US crude oil’s implied volatility was 26.2%, which is ~3% above its 15-day average. The inverse relationship between oil prices and oil’s implied volatility is illustrated in the following graph. Since reaching a 12-year low in February 2016, US crude oil active futures have risen 170.8%. Crude oil’s implied volatility has fallen ~65.2% since February 11, 2016.
The International Monetary Fund (or IMF) cut its estimates for global growth for this year and for 2019, citing trade tensions between the US and its trading partners. It now estimates the global growth will come in at 3.7% in 2018 as compared to its previous estimate of 3.9%. The “World Economic Outlook” report is published twice a year, in April and October.
The S&P 500 fell more than 3 percent on Wednesday. In the past, 8 in 10 such drops came as part of a decline of at least 10 percent. The 5.3 percent crunch in the S&P 500 on Wednesday and Thursday took the index back to early-July levels — inflicting buyer's remorse on anyone who bid into the late-summer rally — while punishing the most popular huge growth stocks of technology the hardest.
Canadian pot company Canopy Growth Corp. said Monday it has agreed to acquire the assets of Colorado-based Ebbu Inc., a hemp research company, for CAD25 million plus 6.2 million shares. The deal will "complement and accelerate multiple core verticals operating under Canopy Growth's group of companies," Canopy said in a statement. Canopy will take over IP and research and development conducted by Ebbu for its hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities. The company is expecting to cut the cost of CBD production using Ebbu's IP. The news comes just two days before Canada fully legalizes cannabis on Oct. 17. The deal is expected to close in November, subject to regulatory approvals by the TSE and NYSE. Shares rose 2.8% premarket and have gained 110.5% in 2018, while the S&P 500 has gained 3.5%.
If you've read any investing book written since 1952, it probably extols the virtues of diversification -- as well it should. Investors usually understand the concept of diversification, but many have inaccurate perceptions about what provides actual diversification. While owning 500 different stocks dilutes the risk that one of the stocks you own will dramatically underperform, it doesn't address the risk that the entire stock market might underperform.
STOCKSTOWATCHTODAY BLOG 6:23 a.m. A bad week ended with a good day. Too bad the good times couldn’t last. S&P 500 futures have fallen 0.4%, while Dow Jones Industrial Average futures have declined 79 points, or 0.
Global stocks weaken as geopolitical and trade tensions keep investors cautious following last week's selling on Wall Street. Saudi Arabia has vowed to react to any punishment meted out following the disappearance of prominent journalist Jamal Khashoggi in Turkey last week. U.S. stocks set for more red at the open, with the Dow indicated 200 points lower at the bell and investors looking for Q3 earnings from Bank of America.
U.S. stocks look set for another volatile session Monday as investors re-set prices in markets all over the world amid amid escalating tensions between Washington and Riyadh over the death of a prominent Saudi journalist in Turkey last month as well as renewed concerns for trade disputes between the U.S. and its major economic partners. U.S. equity futures indicated a weak opening on Wall Street Monday, with contracts tied to the Dow Jones Industrial Average suggesting a 95 point decline, following last week's sell-off that clipped more than 1,100 points from the benchmark in one of the worst weeks of the year for domestic stocks, while linked to the broader S&P 500 were marked 18 points to the downside amid the 'risk-off' sentiment. index is creeping higher again in after-hours trading, rising 4.4% to 22.26 points, amid the broader global market declines in Europe and Asia linked to the Saudi tensions.
European stocks tumbled again, also hit by Italian budget woes and as Brexit talks dragged on with just days to go until a critical deadline. Futures contracts on the S&P 500 index fell 0.8 percent after the underlying gauge had its worst weekly slump since March 23 last week.
U.S. stock index futures pared steep losses on Monday mornings as Wall Street tried to recover from a 4 percent drop in the major indexes last week. Dow Jones Industrial Average futures turned positive at around 7:50 a.m. ET, while futures on the S&P 500 and Nasdaq 100 were also off their lows. The Dow finished almost 300 points higher on Friday but stocks still registered steep losses for the week as investors fretted over rising interest rates.
A sharp pullback in stocks last week, including the S&P 500's (.SPX) biggest single-day drop since a market correction in February, has left investors questioning whether this could signal danger for the longest-ever bull run for U.S. equities. S&P 500 earnings are expected to rise 23.1 percent this year, according to I/B/E/S data from Refinitiv. “If you still think the corporate profit story is intact, you should be owning stocks here,” said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
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Stocks across the globe saw a sell-off last week, with Wall Street's major indexes seeing their worst weekly declines since March. With the U.S. earnings season currently underway, J.P. Morgan reported Friday that third-quarter figures exceeded analysts' expectations. The U.S.-China trade war continues to be in focus, along with concerns raised by President Donald Trump over the Federal Reserve's interest rate policy.
For months, U.S. stocks powered higher to records while most of the world’s markets crumbled, a divergence that analysts and investors said wouldn’t last. The factors that helped U.S. stocks to solidly outperform other global equity markets this year—a booming tech sector, and seemingly little concern for the pace of the Federal Reserve’s interest rate increases—faded sharply last week, when a sudden selloff left the S&P 500 down 5% for the month. The impact of escalating trade tensions between the U.S. and Chinese governments on the global economy has also hit stocks outside the U.S. hardest.
The hardest thing in investing is to harbor no bias. When you want to want to spot a major market bottom, look for the follow-through rally.
The man who called the latest sell-off believes earnings hold the key to saving the year's historic rally. According to Ned Davis Research's Ed Clissold, the market is going through a panic reaction due to a change in the Federal Reserve's posture on interest rates. "Currently, expectations are for 12 percent S&P 500 operating EPS [earnings per share] growth for 2019.