|Day's Range||2,800.01 - 2,809.70|
|52 Week Range||2,417.35 - 2,872.87|
We've had an interesting first half of 2018 in the books, but now as we look ahead to the balance of the year, what can we expect? Joe Fahmy of Zor Capital gives us a preview.
Tariffs are starting to bite big manufacturers and Wall Street could get another bout of caution and uncertainty from major industrial companies when a swath of reports comes in over the next week. Investors are worried about the impact on earnings should the United States' trade war with China and other major trading partners escalate. "If today's political rhetoric intensifies and translates into actual protectionist policies, it will be a negative for all businesses in the U.S. and abroad, including ours," Hamid Moghadam, chief executive of supply chain management company Prologis, warned on a conference call on Tuesday.
The S&P 500 has been a bit flat during the week, as we continue to dance around the 2800 level. This is an area that will have a lot of psychological importance attached to it, but I think at this point the overall attitude is one of persistence, so that may win out in the end.
The S&P 500 was very choppy in the week on Friday, reaching just above where we opened in the CFD market. As I record this, it looks as if the 2810 level is going to offer significant resistance. I think that resistance extends higher, so at this point I don’t think the market is quite ready to take off.
Investors seeking income have frequently found it in the S&P 500’s telecom sector, which was recently yielding 5.8%. The revamped telecom sector, which will be renamed communications services, will add companies such as Alphabet (GOOGL) and Facebook (FB). Part of the idea is to offer a sector that more accurately reflects the big changes in telecom companies as they blend with content providers.
President Donald Trump took on the Federal Reserve, telling an interviewer that he’s “not happy” about rising interest rates, the kind of meddling we haven’t seen in a while. “The markets can overreact, treating missteps as serious policy errors,” Lee explains.
U.S. stocks inched lower Friday, ending the week little changed, as White House comments on monetary policy sent the dollar and government bond prices sliding. Major indexes struggled to break higher throughout the week as investors parsed dozens of earnings reports and rebukes from President Donald Trump on Federal Reserve policy. A White House official told CNBC that Mr. Trump was worried the Fed would raise interest rates twice more this year.
Starbucks Corp. has been awarding shares to baristas since the 1990s. The company says it has granted more than $1 billion in equity under its “Bean Stock” program. It currently offers restricted stock vesting over two years to nearly all employees.
In some editions Friday, Secretary of State Mike Pompeo’s first name was omitted in a Page One article about a planned fall summit between President Donald Trump and Russian President Vladimir Putin. The “Mutual-Fund Yardsticks” table in the July 9 Journal Report contained incorrect one-year returns for all of the fund categories.
Traders are watching for fallout from Trump's comments on the dollar. President Donald Trump made plenty of headlines in the past week, and fallout from some of those could appear in the week ahead. Trump on Thursday and Friday criticized China and Europe for driving down their currencies at the expense of the dollar.
The Dow Jones Industrial Average finished lower on the day, but not enough to really count. •...and explain why State Street (STT) sank to the bottom of the index. The S&P 500 rose 0.52 point this week after dipping 0.1% to 2801.83 today, while the Dow Jones Industrial Average advanced 38.71 points, or 0.2%, this week after declining 6.38 points today to 25,058.12 today.
On a day the major benchmarks were mostly flat, General Electric fell on concerns over its power business, while Microsoft reported strong sales gains.
President Trump is upping the ante in the trade fight. He says he’s ready to impose tariffs on all Chinese goods exported to the US. Plus, the President is criticizing the Fed's recent rate hikes. Yahoo Finance’s Alexis Christoforous, Rick Newman and Melody Hahm have more.
S&P Investment Advisory Services portfolio manager Erin Gibbs on what’s holding the stock market back from another major rally.