|Day's Range||2,821.99 - 2,835.41|
|52 Week Range||2,346.58 - 2,940.91|
Former top economic advisor to President Obama dies over the weekend. Yahoo Finance's Adam Shapiro has the details.
The Fed's two-day policy meeting begins on Tuesday, where the central bank is widely expected to keep interest rates steady and reiterate its "patient" approach to monetary policy. Investors will be looking for whether the Fed's dot plot, which shows individual committee members' rate views for the coming three years, aligns with the patient approach. "A lot of it right now is just investors sitting on their hands waiting to see what the Fed has to say which is definitely the highlight of the week," Ryan Nauman, market strategist at Informa Financial Intelligence in Zephyr Cove, Nevada.
Shares of Daré Bioscience Inc. rocketed 129% on very heavy volume toward a 13-month high in afternoon trade Monday, after the biopharmaceutical company announced positive findings for the use of its DARE-VVA1 product candidate in treating vulvar and vaginal atrophy (VVA). The stock was the biggest percentage gainer listed on major U.S. exchanges, even though it pared earlier gains of as much as 253%. Volume swelled to 37.8 million shares, compared with the full-day average of about 82,500 shares and enough to make the stock the most active on the Nasdaq exchange. The company said a self-administered vaginal suppository containing tamoxifen administered to four healthy postmenopausal women with VVA showed "significant improvements" in reducing vaginal pH and vaginal dryness, without significant absorption of tamoxifen. "If successful, DARE-VVA1 could be the first and only vaginally administered tamoxifen product approved by the FDA for the treatment of VVA in hormone-receptor positive breast cancer patients," the company said in a statement. The stock has now more than tripled year to date (up 218%), while the iShares Nasdaq Biotechnology ETF has climbed 18% and the S&P 500 has gained 13%.
For international investors looking for exposure to Japanese stocks, the JPX-Nikkei Index 400 is an extremely useful vehicle. The index of 400 stocks is designed with them in mind, screening for quality companies with international standards of corporate governance and attention to shareholder returns. Fortunately, the brokerage Nomura has screened Japanese stocks and is predicting which ones will be put into the index, and which will be taken out.
U.S. equity benchmarks edged higher at the start of a week filled with potentially significant catalysts from central bank meetings, geopolitical developments and economic data. The S&P 500 Index rose from midday session lows, as an advance in energy shares that’s being fueled by gains in oil prices offset declines in tech stocks including Facebook. The Dow Jones Industrial Average fought to hold gains as Boeing declined on reports that the U.S. Transportation Department was examining the 737 Max’s design certification.
The Fed has begun a monthslong review of its policy framework to consider alternative approaches to targeting inflation, and Goldman believes the central bank will decide to allow overshoots of its inflation goal next year. "If implemented... this change would decrease the likelihood of further near-term policy tightening and lead to a small and gradual increase in both expected and realized price inflation," says Goldman's equity strategist Ben Snider. Since 2012, the Fed has always been attempting to hit a 2-percent target, but inflation has fallen short of that target through much of this recovery.
At the central bank's two-day policy meeting which starts on Tuesday, the Fed is widely expected to stick to its pledge of a "patient" approach to monetary policy. Investors will be looking for whether policymakers will have sufficiently lowered their interest rate forecasts to more closely align to the Fed's "dot plot", a diagram showing individual policymakers' rate views for the next three years. Also expected are more details on a plan to stop cutting the Fed's holdings of nearly $3.8 trillion in bonds.
My son, who is now 4 years old, claims that Warren Buffett (Trades, Portfolio) is his favorite super hero. Of course, this is because my son's other super hero, his father, tells him Buffett is so. My son regularly explains to me why Buffett is a super hero.
U.S. stocks trade mixed as investors look ahead to this week’s meeting of Federal Reserve policy makers; losses for aircraft maker Boeing threaten to again weigh on the Dow Jones Industrial Average.
Shares of BioScrip Inc. tumbled 9.0% toward a 9-month low in midday trade Monday, extending the sharp reversal suffered early in the previous session as investors digested the terms of the company's merger deal with Option Care Enterprises Inc. On Friday, the stock soared as much as 71% in premarket trade, and as much as 8.0% during the regular sessions, before pulling a sharp U-turn to close down 20.3%. Canaccord Genuity analyst Richard Close said that while investors may have to suffer some short-term pain, given the disappointment that BioScrip shareholders will own just 20% of the post-merger company, but he remains bullish given the long-term potential. "The need for scale in health care is increasingly paramount as the provider and payer markets consolidate and reimbursement risk is always present," Close wrote in a research note. "Thus, having scale is a significant advantage as [BioScrip] seeks to negotiate rates and drive sustained operating results." The stock has tumbled 35.5% year to date, while the S&P 500 has climbed 12.7%.
The market has been on fire since it bottomed on Dec. 24, but comparisons to one of the worst declines of the Great Depression appear to be wishful thinking.
NEW YORK (AP) — U.S. stock indexes drifted sideways Monday, giving up gains from earlier in the morning, at the start of a busy week for markets.
Investors were still feeling relatively upbeat as they await news from central banks this week, including the Federal Reserve on Wednesday.
The South China Morning Post and CNBC identified three possible catalysts for China's big thrust Monday.
“The flows show confidence in an accommodative Fed is starting to outweigh concerns over the lateness of the cycle for many investors, although some are still choosing to play this a bit more safely with quality and low-volatility ETFs,’’ said Eric Balchunas, senior ETF analyst for Bloomberg Intelligence. This appetite for a broad basket of U.S. equities would stand in stark contrast to many of 2019’s early trends. Quadruple witching -- the expiration of futures and options on indexes and individual stocks that typically spurs a lot of trading activity -- may have contributed to these flows.
DEEP DIVE What a difference a few months can make. During 2018, and especially during the fourth quarter, investors were concerned about rising interest rates and were beginning to fear that a recession was looming.
American Eagle Outfitters Inc. has launched a pop-up shop in New York City's Soho neighborhood in partnership with sneaker reseller Urban Necessities. The pop-up has special-edition sneakers, high-end merchandise and hard-to-find styles from brands like Supreme, Anti Social Social Club, and Nike Inc.'s Jordan brand priced from $150 to $50,000. Urban Necessities, which has a store on the Las Vegas Strip, specializes in styles for the enthusiast, or "sneakerheads." Some enthusiasts and others have taken to Twitter to scoff at the idea of American Eagle, known for jeans and other gear aimed at teens, getting into the sneaker game. MarketWatch reached out to American Eagle for further comment about the pop-up, and will update with any response. American Eagle shares have gained 7.2% in 2019 while the S&P 500 index is up 13% for the period.
Health savings account custodian HealthEquity reports after the close Monday as the IBD 50 stock edges closer to a buy point.
Inflows suggest investors are getting bullish, and that could be the start of a last gasp for the stock market.
Visa Inc. said Monday that it will offer specials to cardholders who spend at the new Hudson Yards complex on New York City's west side. Hudson Yards includes a shopping and restaurant destination as well as other amenities. Visa is the "official payment technology partner" for the development. Launch promotions include access to a "secret menu" at the Fuku restaurant, and a private tour of the Hudson Yards Gallery. Visa cardholders can take their card to donate to Women's World Banking, which benefits low-income women entrepreneurs. Visa shares have gained nearly 18% for the year to date while the S&P 500 index is up 13.1% for the period.
The only index to close lower Friday was the Dow Jones Transports. The rest are now in positive trends, except the S&P Midcap 400 Index, which closed above its short-term downtrend line, so it now sits at neutral. The stochastic levels for the S&P 500, Nasdaq Composite and Nasdaq 100 are now overbought, while the Volatility Index has dropped to 12.9.