|Day's Range||2,658.23 - 2,682.17|
|52 Week Range||2,532.69 - 2,940.91|
The Bureau of Labor Statistics will be releasing CPI data, and Cisco holds its annual shareholder meeting. Here's what you need to know in markets on Wednesday.
Mattel (MAT)'s stock price may get a boost in the near future from its decision to capitalize on its range of entertainment franchises. The company is seeking to move towards a capital-light business model through a series of partnerships as it aims to maximize revenue opportunities within its intellectual property portfolio. Its position within the global toy market has improved in recent months.
Trump, in an interview with Reuters, said trade talks were already underway and that China was buying a "tremendous amount" of U.S. soybeans. "Sentiment is driven by positive news that there might be progress with U.S. and China negotiations - which, I think, will be the number 1 headline for the next three months," said Tom Plumb, president of Plumb Funds in Madison, Wisconsin. The S&P technology sector (.SPLRCT) gained 2.17 percent, providing the biggest boost to the market.
U.S. stocks jumped on Wednesday, boosted by the technology sector, as indications that Beijing would ease its "Made in China 2025" industrial policy added to optimism fueled by President Donald Trump's upbeat comments on trade. Trump, in an interview with Reuters, said trade talks were already underway and that China was buying a "tremendous amount" of U.S. soybeans.
If recent market action feels extraordinary, that’s because it has been. In fact, we’re seeing something that hasn’t happened since 2008, and, according to Dana Lyons of J. Lyons Fund Management, has only occurred 11 times since 1960
Tech stocks lifted the Nasdaq 100 more than 2 percent following gains in Europe and Asia after the chief financial officer of Huawei Technologies Co. was granted bail and President Donald Trump said he’d consider intervening in the case if it helps get a trade deal with China. CommoditiesWest Texas Intermediate crude climbed 1.3 percent to $52.33 a barrel.Gold advanced 0.2 percent to $1,245.40 an ounce.
The S&P 500 rose 32 points, or 1.2%, as of 9:35 AM ET (14:35 GMT), while the Dow increased 289 points, or 1.2%, and the tech-heavy Nasdaq Composite jumped 89 points, or 1.3%.
Global stock indexes jumped Wednesday to reverse some of their big losses from the week before. In the U.S., technology companies rallied and energy companies rose along with crude oil prices. The Russell 2000 index of smaller-company stocks added 26 points, or 1.9 percent, to 1,466.
Shares of Waitr Holdings Inc. rose 5% on Wednesday after the online restaurant ordering and food delivery platform announced a definitive agreement to acquire online food delivery service Bite Squad for $321.3 million in cash and shares. Bite Squad will remain a standalone business "for the foreseeable future," Waitr said in a statement. As of Sept. 30, Waitr had more than 7,700 restaurant partners across 235 cities in the southeastern U.S. Waitr shares are up nearly 19% for the year so far while the S&P 500 index is up 0.1% for the period.
Standing by his 2,850 year-end S&P 500 price target, the Deutsche Asset Management strategist says, "A lot can happen in a month."
Farfetch Ltd. shares jumped 6.3% in Wednesday trading after the luxury fashion platform announced a definitive agreement to acquire Stadium Goods, a premier sneaker and streetwear marketplace for $250 million in cash and Farfetch shares. Stadium Goods was founded in 2015, and has participated on the Farfetch marketplace since April. Stadium Goods will continue as a standalone brand after the acquisition and the leadership team will continue in their roles. The acquisition is expected to be complete in the first quarter of 2019. Farfetch shares began trading in September. The stock is up 14% for the past month versus a 1.8% decline for the S%P 500 index .
Stock markets around the world rose along with U.S. Treasury yields on Wednesday as U.S. President Donald Trump sounded upbeat about a China trade deal and sterling bounced on bets that UK Prime Minister Theresa May would keep her job. U.S. Treasury yields advanced in tandem with Wall Street's gains after Trump said trade talks with China are progressing with discussions underway by telephone and more meetings likely among officials of both countries. In an interview with Reuters on Tuesday, Trump also said he would intervene in the Justice Department's case against a top executive at China's Huawei Technologies [HWT.UL] if it served national security interests or helped to close a trade deal.
Stock markets around the world rose along with U.S. Treasury yields on Wednesday as U.S. President Donald Trump sounded upbeat about a China trade deal and sterling bounced on bets that UK Prime Minister Theresa May would keep her job. U.S. Treasury yields advanced in tandem with Wall Street's gains after Trump said trade talks with China are progressing with discussions underway by telephone and more meetings likely among officials of both countries.
Stocks are rising Wednesday as a series of news reports suggest that significant headway is being made on U.S.-China trade negotiations.
With the production cut agreement that’s set to be implemented in 2019, US crude oil’s downside could be limited. Traders think that the recent flow of funds from oil to the natural gas market might stop, which could be a negative development for natural gas prices.
Shares of Roku Inc. are bucking an uptrend for tech stocks on Wednesday morning, after Needham analyst Laura Martin lowered her price target to $48 from $85 while maintaining a buy rating on the shares. Martin also reduced her user additions, revenue, and earnings estimates for the upcoming fiscal year, citing tensions with China that might impact how many Chinese-made televisions get sold in the U.S. Roku licenses its technology to smart TVs made by TCL and other Chinese companies. Martin remains upbeat about Roku's general prospects, however, writing that the company's platform should hold appeal for advertisers who wish to reach cord cutters. She's also encouraged by improving engagement trends. Roku's stock is down 0.5% in Wednesday morning trading, and it's off 31% so far this year. The S&P 500 is little changed on the year.
Ever since the dawn of his presidency, Wall Street has had to decide which Donald Trump it was dealing with — the “good” Trump or the “bad” Trump. The “good” Trump cut corporate taxes and regulations, while the “bad” Trump shut down immigration, bullied CEOs about keeping jobs in the U.S., and threatened tariff wars with key trading partners. Over the past few weeks, the “bad” Trump has returned, and stocks have reeled.
Stocks opened sharply higher Wednesday, lifted by continued optimism over renewed U.S.-China trade talks. The Dow Jones Industrial Average jumped 279 points, or 1.2%, to 24,649, while the S&P 500 rose 1.1% to 2,665. The Nasdaq Composite advanced 1.3% to 7,121. President Donald Trump, in an interview with Reuters, said he was willing to intervene in the Justice Department's case against an executive of Chinese company Huawei if it would help clear the way to a trade deal with Beijing. Also, The Wall Street Journal reported that China is preparing policy changed designed to increase access to its markets for foreign companies.
Today, we look at a slightly riskier part of the sector in promising small caps that should be able to reach profitability with little to no additional funding needs. Revenues should more than double this year to over $140 million as the genetic test market continues to expand rapidly and Invitae garners market share. The company is doing a good job lessening its cash burn every quarter and is on the path to reach profitability late in 2019.
'Tis the season to go bargain hunting for stocks. It might not feel like it, what with the Dow Jones Industrial Average having kicked off December by shedding nearly 1,200 points, but now is the time to do some holiday shopping in the market, especially in dividend stocks. After all, as Warren Buffett likes to say, "Be greedy when others are fearful." And the way the market has been behaving lately, it's pretty clear that fear abounds. The general retreat in share prices means valuations are down and yields are up. (Dividend yields and stock prices move in opposite directions.) That has made several large-cap, high-quality dividend stocks look mighty tempting. The Standard & Poor's 500-stock index currently trades at 15 times expected earnings, according to Yardeni Research. To find bargains, we scoured the broad-market index for large companies that trade for less than 15 times projected earnings. At the same time, we limited our search to dependable dividend payers with yields of at least 3%. After taking long-term earnings growth forecasts and analysts' opinions into account, the following five names stood out as bargain dividend stocks to buy now. SEE ALSO: 19 Best Stocks to Buy for 2019
Sparton Corp.'s shares soared 38% in premarket trade Wednesday, after the maker of electromechanical devices for the medical, military and industrial sectors said it has agreed to be acquired by private-equity firm Cerberus for $18.50 a share in cash. The price offers a premium of 41% over Sparton's closing share price on Dec. 11 and comes after a review of the company's strategic alternatives, that included a possible sale. Debt financing for the deal is being provided by TCW Asset Management and MSD Partners. Sparton shares are down 40% in 2018 through Tuesday's close, while the S&P 500 has fallen 1.4%.
Bank of America Merrill Lynch (BAC) expects Brent crude oil to average ~$70 per barrel in 2019, according to a CNBC report. The OPEC and non-OPEC agreement to cut 1.2 MMbpd (million barrels per day) of oil from the October production level in 2019 would be the key driver for US crude oil prices going forward.
Shares of Vera Bradley Inc. are down 11% in premarket trading Wednesday after the company missed earnings and revenue expectations for its fiscal third quarter. Vera Bradley reported net income of $4.2 million, or 12 cents a share, up from $359,000, or 1 cent a share, a year earlier. The year-ago numbers included $7.9 million of after-tax charges owing to impairment, consulting fees, and other factors. Analysts surveyed by FactSet were expecting 16 cents in earnings per share for the latest quarter, above the 12 cents that Vera Bradley reported. The company's revenue fell to $97.7 million from $114.1 million in the year-earlier quarter. Analysts had projected $101.7 million in sales. Vera Bradley expects net revenue of $114 million to $119 million for its fiscal fourth quarter, whereas analysts had been predicting $114 million. Shares are down 16% so far this year, while the S&P 500 has dropped 1.4%.