|Day's Range||2,879.62 - 2,894.45|
|52 Week Range||2,346.58 - 2,954.13|
To avoid tariffs in the US-China trade war, some Chinese companies have moved production facilities and other operations to the U.S., not just Southeast Asia.
Clamoring for a rate cut by the Federal Reserve at some point this year is running high, but the Fed may not comply.
Futures pointed lower in Japan and Hong Kong, though ticked higher in Australia. Treasury yields were little changed as upbeat economic data left some doubts about a more dovish position from the Federal Reserve. Securities in Hong Kong will be closely watched after huge street protests over the weekend.
The gauge touched its lowest point since the 2007-08 financial crisis. Morgan Stanley’s report comes as stocks in June have mostly drifted higher in turbulent trading, with the Nasdaq Composite Index (COMP)entering correction territory on June 3, but gaining 6.3% since that point as of Friday morning trade, according to FactSet data. Swirling anxiety around the U.S.’s trade relationship with China and other major international counterparts has hurt the confidence of business leaders because the unresolved tariff battles have made it difficult for corporate chieftains to develop business strategies and forced many companies to alter their supply chains.
At its last policy meeting in early May, the Federal Reserve said it was going to be patient for some time before changing interest rates. Economists expect the Fed to try to back away gracefully from that stance with a new pledge to cut interest rates, if warranted. Here is what to watch when the Fed announces its decision at 2 p.m. Eastern on Wednesday.
Most people think they’re above average in intelligence, relationship status and professional achievement. Social scientists call this “illusory superiority.” My business partner Scott Puritz, has found the one area where even above-average people, objectively smart, rich, successful professionals, seem to wave the white flag and admit to not understanding — money and investing. “One of the most shocking things is the low-level financial literacy throughout our culture,” Puritz told the Washington Post.
An account owned by Tom Daffron may have sold its entire position in Red Hat. The purchase of Wex stock marks the initiation of an investment.
BlackRock, Vanguard and State Street Global Advisors are on course to control four votes out of every 10 cast at large US companies, as regulators and policymakers probe the wider consequences of their increasing dominance of the investment market. The influence of the Big Three, which have mopped up trillions of dollars of index investments in recent years, is being viewed by politicians as a possible antitrust issue. BlackRock, Vanguard and SSGA, which collectively manage more than $14tn, account for a quarter of votes cast at S&P 500 companies.
AMD CEO Lisa Su led a stunning turnaround at the semiconductor company, which is now giving Intel a run for its money in all areas of the chip business.
Proponents of interest-rate cuts see them as needed to keep the economy hopping. But they’re unlikely to offset the drag from trade frictions or to fan the inflation the Fed fears.
THE TRADER Bad news poured down this past week, yet the market kept on dancing in the rain. There was bad geopolitical news as the U.S. blamed Iran for attacking two tankers carrying petroleum products.
Investors are sitting tight as events in the next two weeks could move the market. The Federal Reserve is meeting next week amid expectations of an interest rate cut.
Fed Chairman Jerome Powell will face a tough challenge in the June 19 policysetting meeting: promising nothing but reassuring markets that the Fed stands ready to support the economy.
Even for a summer Friday by any definition other than the scientific one, the markets were too quiet today. Stocks were down, but just slightly, as Broadcom's bearish guidance has hit the always-volatile semiconductor group.
U.S. stocks ended lower on Friday as investors were cautious going into next week's Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to U.S.-China trade worries. Other chip companies, which both source product and sell heavily in China, dropped sharply.
Key indexes closed slightly lower in the stock market today as Broadcom and other chips weighed. But the Dow Jones and S&P 500 held key support.
President Donald Trump aimed his latest criticism at the Federal Reserve on Friday, ahead of the central bank policy makers’ meeting next Tuesday and Wednesday, and said he predicted an eventual trade deal with China.
Stocks mostly closed lower on Friday, leaving weekly gains still intact, after shares of computer chip makers came under pressure due to US-China trade tensions. The S&P 500 fell 0.2% to end around 2,887. The Dow Jones Industrial Average shed 17 points, or less than 0.1%, to finish near 26,090. The Nasdaq Composite slipped 0.5% to end around 7,797. For the week, S&P was up 0.5%, the Dow was up 0.4% and the Nasdaq was up 0.7%. Broadcom Inc. shares led the slump in tech stocks on Friday after the semiconductor manufacturer lowered its guidance for the rest of the year on late Thursday. Broadcom's stock tumbled 5.4%. Still, key equity benchmarks were propped up by expectations for the Federal Reserve to signal its plans to cut rates in the near-future at next week's meeting. In other company news, Chewy Inc. shares rose 63% after its debut IPO in the New York Stock Exchange. The pet care company's stock ended at around $36 a share.
All major stock indexes close lower Friday after the Dow failed to defend a late comeback as tech shares came under pressure following lower guidance by chip giant Broadcom Inc. which cited the effects of the U.S.-China trade fight.
In a baffling week, oil tankers were attacked in the Persian Gulf, America blamed Iran, and U.S. stocks rose. President Donald Trump threatened to slap sanctions on a fellow NATO member and the fourth biggest economy in the world, and the riskiest U.S. debt hit a record high. The easiest conclusion is that equity investors are betting on supportive central bankers helping juice either economic growth or asset values or both, and there’s plenty of evidence to support that.
Prominent bond investor Jeffrey Gundlach, the CEO of $130 billion DoubleLine Capital, sees the increasing likelihood of a recession within the next six to twelve months. Yahoo Finance's Julia La Roche, Jen Rogers and Myles Udland discuss Gundlach's latest call.
Joining Yahoo Finance's Jen Rogers and Myles Udland is Brian Shannon, CMT and founder of www.alphatrends.net. It's been exactly four weeks since Luckin's IPO and the charts are looking bullish. Amazon is showing strength as well.