|Day's Range||2,583.23 - 2,638.15|
|52 Week Range||2,532.69 - 2,940.91|
Some people see optimism going into 2019 despite all the recent volatility. Yahoo Finance's Alexis Christoforous and Brian Sozzi it all down.
Investors need to get used to increased volatility, with stocks likely to see substantial swings in the months ahead, says hedge-fund legend Paul Tudor Jones.
Stocks around the world are falling Monday morning, and U.S. indexes gave up modest early gains and turned lower, hurt by sharp drops for energy and financial companies. The British pound is dropping after the U.K. prime minister postponed a vote on its departure from the European Union, and oil has resumed its sharp slide. KEEPING SCORE: The S&P 500 index lost 47 points, or 1.8 percent, to 2,585, as of 11 a.m. Eastern time.
Miners and energy producers led the retreat in the Stoxx Europe 600 Index, while futures on the Dow Jones, Nasdaq and S&P 500 indexes were all in the red as Asian shares dropped across the board. Dampening the mood at the start of the week was weak data on China’s slowing economy and news the country’s vice foreign minister has summoned the U.S. ambassador Terry Branstad to protest the arrest of Huawei Technologies Co.’s chief financial officer. Sentiment in financial markets has been fragile in recent weeks as traders gauge whether the Fed could slow its tightening path as trade war fears linger.
10:53 a.m. The S&P 500 is falling—again—an this time its targeting a level that has proven to be support for much of 2018. The S&P 500 is getting close to that level today—it is off 1.1% at 2,602.94, while the Dow Jones Industrial Average has dropped 333.47 points, or 1.4%, to 24,055.48, while the Nasdaq Composite has declined 0.6% to 6,930.59—and might very well break it. If it does, the S&P 500’s closing low near 2580 and its trading low near 2530 would be the next support levels.
Analysts at Goldman Sachs on Monday downgraded shares of Visteon Corp. to sell from neutral, saying they believe the auto supplier will continue to be behind its peers amid headwinds for the industry and higher exposure to Ford Motor Co. "Further, with products leveraged more toward hardware/middleware and (autonomous-vehicle) efforts uncertain/longer off, we see VC as a less likely take-out candidate," the Goldman analysts said. Visteon was spun off Ford in 2000. Shares fell 7% on Monday and are down 50% for the year, which compares with declines of 2.6% each for the S&P 500 index and the Dow Jones Industrial Average.
The benchmark S&P 500 and the blue-chip Dow Jones Industrial Average, already in the red for the year after last week's slide of more than 4.5 percent, fell another 0.5-0.6 percent, while the Nasdaq moved marginally higher. Apple fell 1.7 percent after Qualcomm Inc said it had won a preliminary order from a Chinese court banning the import and sale of several iPhone models in China due to patent violations. Ten of the 11 major S&P sectors were lower, led by a 1.4-percent drop in financials on expectations that the Federal Reserve would be less aggressive with monetary policy next year.
The S&P 500 had a nearly 5% return two weeks ago, making it the best week for the index in seven years. Then this past week, the S&P 500 declined 4.6%, giving up nearly all of the gains from the previous week.
All year, the market has been consumed with the question of how much profit growth and the economy will slow in 2019 — and whether the Fed would hasten the end of this cycle with too much tightening. Wall Street strategists, who typically forecast stocks to rise 7 percent to 10 percent as a group as a new year approaches, now are growing more cautious. From a contrarian perspective, it's possibly quite good for stocks that sell-side handicappers are gloomier.
Wall Street dropped on Monday, led by Apple Inc, financials and healthcare stocks, falling further after its biggest slide since March last week on worries over global growth, the China-U.S. trade war and uncertainty over the Brexit deal. The benchmark S&P 500 and the blue-chip Dow Jones Industrial Average, already in the red for the year after last week's slide of more than 4.5 percent, fell another 0.5-0.6 percent, while the Nasdaq moved marginally higher. Apple fell 1.7 percent after Qualcomm Inc said it had won a preliminary order from a Chinese court banning the import and sale of several iPhone models in China due to patent violations.
Paul Tudor Jones says the Goldman Sachs JUST fund that tracks an index of social impact securities curated by his company is tracking the performance of the S&P 500. The famed hedge fund investor also says a number of new companies have made their way into the ranking, which was led by Microsoft. "There was a poll recently conducted: 51 percent of millennials between 18 and 29 [years of age] are opposed to capitalism.
Stock investors are challenged by a still-healthy U.S. economy weighed against evidence of slowing growth abroad and continued trade tensions.
U.S. financial conditions are tightening, a potent mix of a strong dollar, weak stock markets and flat yield curve squeezing the availability of global money that will bring to an end the Fed's rate-hiking cycle sooner rather later. By some measures, conditions are tighter now than they have been for years and money markets are reacting accordingly. The more financial conditions tighten, the less the Fed needs to raise rates.
Action camera maker GoPro Inc. said Monday it is planning to move production of all U.S.-bound cameras out of China to avoid the impact of potential tariffs. The company said it will keep production of international-bound cameras in China. "Today's geopolitical business environment requires agility, and we're proactively addressing tariff concerns by moving most of our US-bound camera production out of China," Chief Financial Officer Brian McGee said in a statement. "We believe this diversified approach to production can benefit our business regardless of tariff implications." McGee said GoPro owns its own production equipment, while partners provide manufacturing facilities, "so we expect to make this move at relatively low cost." GoPro shares were down 0.4% in early trade and have fallen 34.6% in 2018, while the S&P 500 has fallen 1.5%.
Stocks opened slightly lower Monday, then turned mixed, struggling for direction following a selloff that last week sent the S&P 500 and the Dow Jones Industrial Average back into negative territory for the year to date. The Dow Jones Industrial Average was off 17 points, or 0.1%, near 24,371. Shares of Apple Inc. fell 1.8%, leading blue-chip decliners, after news reports said a Chinese court ordered the company to stop selling older iPhone models in the country after finding it had infringed on two patents held by Qualcomm Inc. . The S&P 500 rose 0.1%, while the Nasdaq Composite advanced 0.5%.
U.S. stocks opened lower on Monday after a drop in Apple Inc's shares curbed the market's attempt to stage a bounce back from its worst week since March on worries over global growth and the China-U.S. ...
U.S. equity futures fell in a volatile session on Monday, with a drop in Apple Inc's shares curbing the market's attempts to stage a bounce back from its worst week since March on worries over global growth and the China-U.S. trade war. After hitting six-month lows earlier in the session, stock futures briefly turned higher, which appeared to coincide with British Prime Minister Theresa May's abrupt decision to pull a parliamentary vote on her Brexit deal. At 9:14 a.m. ET, Dow e-minis were down 52 points, or 0.21 percent.
Deep losses in Amazon Inc, Apple Inc, Facebook Inc and Alphabet Inc have left the former tech favorites at their lowest earnings multiples in years, offering potential bargains to cold-blooded investors looking to buy stocks at a time of heightened fear. Plummeting stock prices in recent months have mostly outpaced a simultaneous decline in earnings expectations, presenting potential opportunities to buy beaten down stocks. Since Apple's November forecast for a weaker-than-expected holiday shopping quarter and other reports of sluggish demand for iPhones, analysts have cut estimates for the Cupertino, California-based company's December-quarter net income by almost $1 billion.
A volatile stock market, spurred by mixed signals on trade, has stoked fears that the U.S. economy will take a sharp downturn in 2019. The recent tumult has prompted many investors and economists to raise the prospect of a coming recession. There are three main outlooks for the U.S. economy in 2019: a recession, a visible slowdown short of a recession, and continued strong economic growth.
Billionaire investor Paul Tudor Jones says the Federal Reserve will approve a rate hike at its meeting next week then likely pause. Deflationary pressures, particularly from commodity prices, will negate the need for future hikes, the hedge fund manager tells CNBC. The Federal Reserve will go ahead with its planned rate hike next week and then stop, hedge fund manager Paul Tudor Jones said Monday.
Billionaire investor Paul Tudor Jones says the stock market's wild ride will continue in 2019. "It's really easy to say 'I'm really bullish' or 'I'm really bearish.' I kind of see a two-sided market," he adds in a CNBC interview.
Shares of Axsome Therapeutics Inc. surged about 24% premarket Monday, after the biotech, which specializes in therapies for central nervous system disorders, reported positive results in an interim analysis of a trial of a treatment for the agitation associated with Alzheimer's disease. An independent data monitoring committee (IDMC) recommended continuing the Phase 1/2 trial of AXS-05 and did not indicate any safety concerns. The company intends to follow the committee's recommendation. "We anticipate that implementation of the IDMC's recommendations may provide greater flexibility to our operating plans and timelines which we will evaluate in the coming weeks," Chief Executive Herriot Tabuteau said in a statement. Roughly 70% of Alzheimer's patients suffer from agitation, which can be highly upsetting for patients and caregivers. There is currently no approved treatment for the condition. Axsome shares have fallen 47% in 2018, while the S&P 500 has fallen 1.5%.
Systemax Inc. said Monday it will pay a special one-time dividend of $6.50 a share after the sale of its French operations earlier this year. The provider of industrial products said the dividend will be paid Jan. 3 to shareholders of record as of Dec. 24. Shares were not yet active premarket, but have fallen 21.8% in 2018, while the S&P 500 has fallen 1.5%.