|Day's Range||2,719.48 - 2,742.90|
|52 Week Range||2,532.69 - 2,940.91|
U.S. Commerce Secretary Wilbur Ross talks with Yahoo Finance editor-in-chief at the latest All Markets Summit in Washington, D.C.
Companies that missed expectations during this most recent earnings period have seen their shares sink by more than the historical average, a reminder that record earnings don't change the stock market's core function — looking ahead.
Tech is dragging stocks lower as Wall Street begins the week with a sell-off. Yahoo Finance's Julie Hyman and Adam Shapiro discuss with BNY Mellon chief strategist Liz Young and ITC managing director Sean O'Rourke.
OPEC and oil are expected to move the markets, but in the long term Sevens Report Founder and President Tom Essaye says the dollar, which is at a 2018 high, will and could make all the difference for corporate earnings. Yahoo Finance’s Melody Hahm and Essaye discuss.
A closely followed gauge of small-capitalization stocks is a hair’s breadth of realizing a bearish pattern.
Shares of EverQuote Inc. plunged 39% to new lows in morning trade Tuesday, enough to pace all the decliners listed on major U.S. exchanges, after the recently public online insurance company reported a wider-than-expected loss and provided a downbeat outlook, citing margin compression. The stock recently changed hands at $7.26, or 60% below the initial public offering price of $18. The stock went public on June 28. The company reported late Monday a net loss of $3.8 million, or 15 cents a share, compared with a loss of $604,000, or 7 cents a share, in the same period a year ago. That missed analyst expectations for a loss of 10 cents a share, according to FactSet. Revenue rose 30% to $41.7 million, above the FactSet consensus of $40.9 million. The company said it cut its variable marketing margin outlook for the current quarter and for the year, as challenges in pricing and traffic have compressed margins. J.P. Morgan cut its price target to $19 from $22, and kept its rating at overweight, saying the revenue upside suggests the company is making progress in future opportunities. The stock has plummeted 50% over the past three months while the S&P 500 has slipped 3.4%.
On November 12, US crude oil December futures fell 0.4% and settled at $59.93 per barrel—the lowest closing level for active US crude oil futures since February 13. The Energy Select Sector SPDR ETF (XLE) fell 2.1% on November 12. The S&P 500 (SPY) and the Dow Jones Industrial Average (DIA) fell 2% and 2.3%, respectively. The fall in the broader market might have dragged energy stocks.
U.S. stocks rose on Tuesday as technology stocks bounced back after a steep selloff in the previous session and hopes of progress in the U.S.-China trade talks boosted industrials, even though a decline in Apple Inc curbed gains. The S&P technology index rose 0.6 percent following three days of losses, but shares of Apple edged 1.3 percent lower, entering its fourth day in the red. The trade-sensitive industrial sector rose 0.5 percent, boosted by shares of Caterpillar Inc and United Technologies Corp.
Amazon.com Inc. confirmed speculation about the locations for its dual secondary headquarters: Long Island City in the borough of Queens in New York City and Arlington County in northern Virginia. Each is ultimately to have more than 25,000 employees, and Amazon has said it will invest $5 billion on the new locations. Amazon will receive $1.525 billion in performance-based incentives for creating 25,000 jobs in Long Island City. Amazon has agreed to donate space for a tech incubator, for artist and industrial business use, and for a primary or intermediary public school. In National Landing in Arlington, Va., Amazon will receive $573 million in performance-based incentives, and a cash grant from Arlington of $23 million over 15 years based on incremental growth of a tax on hotel rooms. Virginia will invest $195 million in infrastructure. In Nashville, Tenn., meanwhile, Amazon said it would create a new Operations Center of Excellence" responsible for customer fulfillment, transportation, supply chain and other activities. Amazon said it will create 5,000 full-time jobs and invest more than $230 million. Hiring for all locations is to get under way in 2019. The jobs created are expected to have an average salary of $150,000, according to the company. Amazon shares have rallied more than 40% in 2018, while the S&P 500 index is up 2.3% for the period.
U.S. stock indexes were mostly higher in early trading Tuesday, erasing some of the losses from a steep, technology-driven sell-off a day earlier. Gains in banks and technology companies outweighed losses elsewhere in the market. Crude oil prices headed sharply lower, continuing a long downturn. Bond prices rose, sending yields lower.
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators on Monday said the market is enduring “a very serious correction.”
U.S. stocks are edging higher, one day after the Dow and the technology-laden Nasdaq suffered triple-digit losses.