|Day's Range||2,912.63 - 2,923.79|
|52 Week Range||2,488.03 - 2,934.80|
U.S. tariffs on $200 billion worth of Chinese goods goes into effect today. Yahoo Finance's Seana Smith, Dion Rabouin, and Andy Serwer discuss with former Oklahoma Senator Tom Coburn.
JPMorgan Chase & Co. analysts, led by cross-asset strategist John Normand, in a Sept. 21 research report, says investors should be prepared for the possibility of a “major miscalculation” by President Donald Trump’s administration on trade.
Shares of Pandora Media Inc. swung to a loss Monday, erasing earlier sharp gains, as the selloff in SiriusXM Holdings Inc.'s stock after SiriusXM said it agreed to buy Pandora in an all-stock deal pulled down the implied value of Pandora shares. Earlier Monday, Pandora's stock was up as much as 10%, as based on Friday's closing price of SiriusXM shares, the terms of the deal--1.44 SiriusXM shares for each Pandora share--valued Pandora shares at $10.05 each. But with SiriusXM shares tumbling 8.9% in afternoon trade, the deal now values Pandora's stock at $9.16. Pandora's stock has now gained 9.4% over the past three months, while SiriusXM shares have slumped 11% and the S&P 500 has tacked on 6.0%.
As the markets work their way back to record territory, one top technician warns of looming pain for this year's best performing sector: technology XLK . The tech sector has been on a winning streak this year, up more than 18 percent — double that of the broader S&P 500's gain of 9 percent However, Carter Worth, head of technical analysis at Cornerstone Macro, warns that several technical indicators suggest the group is now heading for a major pullback. The XLK ETF which tracks the tech sector, has gained nearly 58 percent in the past two years as investors have piled into the group's top holdings like Apple AAPL , Microsoft MSFT and Alphabet GOOGL .
U.S. stocks fell broadly on Monday as the U.S.-China trade war entered a new round when tariffs on billions of dollars of products took effect. Investors were also looking ahead to the Federal Reserve’s two-day monetary policy meeting which wraps Wednesday and is likely to result in another interest-rate hike.
Global stocks are down Monday after the U.S. and China officially put new tariffs on each other's goods. China also reportedly pulled out of a meeting to discuss trade. Oil prices are jumping after OPEC decided not to produce more oil.
The gainers included the rebranded and expanded "communications services" index. The S&P 500 fell to session low after news website Axios reported Rosenstein, who oversees the special counsel investigation into Russia's role in the 2016 presidential election, had resigned. A source told Reuters that Rosenstein had not resigned, while a White House spokeswoman said he would be meeting President Donald Trump on Thursday.
Shares of Netflix Inc. rallied 2.8% in afternoon trade Monday, putting them on track to close at a two-month high, after Moffett Nathanson analyst Craig Moffett suggested Comcast Corp. will have diffulty competing with the streaming video service despite the purchase of the U.K.'s Sky PLC . Moffett said he's concerned the $38.8 billion acquisition of Sky may not create an "over-the-top" (OTT) powerhouse that eventually rivals Netflix, but instead it gives Comcast an "appendage of an OTT business" that faces "tremendous challenges" in becoming profitable, as it could force Comcast to ramp up production in its own studio, "just like Netflix has now been doing for the better part of a decade." Netflix's stock has run up 93% year to date, while Comcast shares have lost 12% and the S&P 500 has gained 9.2%.
The U.S. stock market isn’t far from records, but recent trading activity could have set the S&P 500 up for a steep decline if it falls below a key point.
Industrials took the biggest knock on Wall Street on Monday as the latest U.S.-China tariffs kicked in, while adding to uncertainty were questions over whether Deputy Attorney General Rod Rosenstein, who ...
As the nation's financial spine began folding in on itself, there was more than a little panic on Wall Street.
A strong dollar is boosting the earnings of domestically focused companies in the S&P 500 Index more than those with foreign exposure, according to a study by Bank of America Merrill Lynch. The valuation gap between the U.S. and other global equity markets is at an all-time high, according to a report by the bank. The S&P 500’s forward price-to-earnings ratio rose in July and August and is now at its highest level since February, the report noted.
Stocks fall on Monday amid trade war worries, and reports that Deputy Attorney General Rod Rosenstein is planning to leave his post.