|Day's Range||2,681.90 - 2,702.84|
|52 Week Range||2,344.51 - 2,872.87|
U.S. stocks were setting up for a lower open but a weekly win, as investors nervously awaited another batch of earnings, including those from big names such as GE and Honeywell.
Weakness in Asia's tech sector, along with an ongoing rally in global oil prices and a rise in government bond yields, has global stocks on the defensive Friday.
World stocks dipped on Friday but were set for a second week of gains after a strong start to the global corporate earnings season, while a rally in commodity prices fizzled out. The index is still on track for a 1 percent gain this week, as global markets recover from a turbulent first quarter which saw the return of volatility, trade tensions between the U.S. and China, and tensions in the Middle East. Shares in Europe were down 0.2 percent, but remain up half a percent on the week and set for their fourth straight week of gains.
U.S. stock index futures fell ahead of Friday’s open, as investors awaited the latest corporate earnings.
The U.S. dollar gained ground against its rivals Thursday as the 10-year Treasury yield edged higher, flirting with the psychologically important 3% mark. The ICE U.S. Dollar Index (IFUS:DX-Y.NYB), which measures the greenback against six developed market currencies, climbed 0.3% to 89.889.
Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while high oil prices stirred inflation fears and undermined sovereign bonds. Spreadbetters pointed to a firm start for European shares, with FTSE futures up 0.3 percent but E-Minis for S&P 500 were a tad softer as were Dow futures. In Asia, Apple led the way after Taiwan Semiconductor Manufacturing cut its revenue target to the low end of forecasts and blamed softer demand for smartphones.
The S&P 500 snapped a three-day winning streak Thursday, as tumbling shares of consumer-staple companies pulled the broad index lower.
Beyond death and taxes, perhaps the best candidate for a constant in life is sin. In investing, as the academics Elroy Dimson, Paul Marsh and Mike Staunton have shown, sin stocks are about as close as we come to a perpetual winner. This chart, taken from a presentation by Elroy, shows the returns over time for the Vice fund (sadly now renamed the Barrier fund, but still only investing in sinful companies), compared to one of the most prominent funds that screens out unethical stocks.
Hang on to that for a few minutes while we move on to something rather more miserable: the state of mind of the people in charge of managing the ridiculously large portfolios of assets held by central banks. Think of the money poured into the markets by QE as a mountain of hot potatoes being chucked from one asset manager to another and you get the picture.
Equities markets in the Asia Pacific region mostly followed Wall Street’s lead on Friday after the S&P 500 index fell for the first time this week, finishing the day down 0.6 per cent. Apple supplier Taiwan ...
Recent market volatility is making some investors nervous that the bull run is ending. A survey by JPMorgan found that 75% of the ultra-rich forecast a U.S. recession in the next two years. Yahoo Finance's Seana Smith, Dan Roberts and Brittany Jones-Cooper discuss.