|Day's Range||2,760.24 - 2,775.66|
|52 Week Range||2,346.58 - 2,940.91|
U.S. stocks rallied Friday to solidify another week of gains.
Industrial shares are on track to drive the stock market’s gains on a quarterly basis for the first time in more than five years, fueling anxiety about a rapid unwind should trade negotiations with China stall. The S&P 500 industrials sector, which includes stocks like Caterpillar Inc., Boeing Co. and American Airlines Group Inc., has led this year’s rebound with a 16% increase. The group hasn’t been the best performer in any quarter since the end of 2013 and has only ever held the title four times, according to Dow Jones Market Data.
WASHINGTON—Economic data are usually noisy, but this week included an onslaught of negative and often contradictory signals that made even seasoned economists scratch their heads. A Federal Reserve report on Friday showed U.S. industrial production dropped sharply in January, even though other data have suggested the manufacturing sector remains strong. Then the University of Michigan reported a February rebound in consumer sentiment, a day after the Commerce Department said consumer spending sank during the holiday shopping season.
Feb.13: Interest rates are falling, and a growing chorus is forecasting slower growth and tepid inflation. Consensus has shifted to a point where virtually all forecasters expect interest rates to follow inflation toward the cellar. Interest rates have followed those expectations lower: The benchmark 10-year Treasury note, which reached a 3.2% yield as recently as November, has since slid to 2.7%.
As Wall Street braces for the first quarterly decline in earnings in nearly three years, some investors are wondering if the market is factoring in a bigger erosion in profit margins than will actually come to pass. Forecasts for U.S. earnings, after a big boost from corporate tax cuts in 2018, are falling sharply in 2019. "Companies since the 2008 trauma have made it a top priority to maintain and increase, if possible, their profit margins," said Ed Yardeni, president and chief investment strategist of Yardeni Research.
Munger’s comments come after Amazon announced on Thursday that it was canceling plans to build its New York City headquarters in Long Island City, and wouldn’t be seeking a replacement venue.
All three major stock indexes ended the day in the black, buoyed by hope that the U.S. and China are making progress in their trade talks. News that President Donald Trump declared a national emergency to get money for a border wall failed to derail the gains.
MARKET EXTRA U.S. financial markets will pause Monday in observance of Presidents Day — which, technically, is not the name of the holiday. The New York Stock Exchange and Nasdaq will shutter on Feb.
The Dow Jones Industrial Average surged more than 400 points Friday as renewed optimism over trade talks between the U.S. and China put investors in a buying mood.
Stocks close higher Friday, with the Dow and the Nasdaq gaining for an eighth straight week, on news of continued progress in trade negotiations between the U.S. and China.
Tom Forte, D.A. Davidson Senior Research Analyst, says Amazon’s plan to pull its HQ2 from NYC sounds like an “effort by the company to get the government of New York back to the negotiating table.” Yahoo Finance’s Alexis Christoforous speaks to him.