|Day's Range||2,760.27 - 2,797.77|
|52 Week Range||2,532.69 - 2,940.91|
The energy sector has been whipsawed by headlines lately, and many investors can’t decide whether to buy or sell oil stocks. When oil (CLX8) raced up to a new 52-week high of more than $76 to start October, many thought things looked great. Then as U.S. oil supplies rose and as OPEC production rose, things didn’t look so hot.
Investing.com - The week ahead marks one of the busiest ones of the third-quarter earnings season on Wall Street, with names like Amazon, Google parent Alphabet, Boeing and McDonald's all set to report in the coming days.
Rising bond yields are putting an end to the “there is no alternative” mantra that provided a pillar of support for stocks. But it might be too soon to underweight equities just yet, some investors argue.
“The stock market is likely to turn from a significant contributor to strong growth at the start of the year into a modest drag next year, barring a further rebound in equity prices,” Goldman Sachs economists including Daan Struyven and Jan Hatzius wrote in a note Friday. The run-up in the equity component of the Goldman Sachs Financial Conditions Index drove most of the 185 basis points of easing from the start of 2017 to late January, the index’s record low, according to the report.
Elevated valuations and crowded positioning have been blamed for the waning leadership of the market’s biggest industry, along with everything from rising bond yields to corporate earnings. The truth is, computer and software makers are cheaper than they’ve been historically, and fund managers currently hold fewer tech stocks than their representation in benchmark indexes, according to Goldman strategists led by David Kostin. “Popularity has turned into concerns of overcrowding and outperformance has turned into concerns of overvaluation, ” Kostin wrote in a note earlier this week.
"I think a good gut check to sentiment, like a 15 percent correction, might be just the ticket to extend this bull market," he added. To get into correction territory, the benchmark index would need to fall to 2,645, a level not seen since May. A 15 percent drop would take it negative for the year. Paulsen told CNBC a correction is necessary to reflect a changing market environment where rates are on the rise, earnings are peaking, and economic growth might slow.
Even as corporate executives engage in a spree of share buybacks to spur stock prices higher, many have eschewed adding to their employee’s pension pots
Proctor & Gamble surged after reporting better-than-expected earnings. The company said it got a boost from strong beauty-product sales. A report from the National Association of Realtors showed on Friday that U.S. home sales fell in September by the most in over two years as the housing market continued to struggle despite strength across the broader economy.
The pressure is on for Amazon, Alphabet and Microsoft as they prepare to report quarterly results at a time when confidence in those market leaders looks increasingly fragile and in danger of derailing Wall Street's rally. After worries about higher interest rates sparked a steep sell-off in early October and again on Thursday, the S&P 500 remains down 5 percent from its Sept. 20 record high close, with top-shelf stocks including Amazon.com Inc (AMZN.O), Alphabet Inc (GOOGL.O), Netflix Inc (NFLX.O) and Facebook Inc (FB.O) showing little of their vitality from recent years. A quarterly report from Microsoft Corp (MSFT.O) on Wednesday after the bell, followed by Alphabet and Amazon late on Thursday, will influence sentiment across Wall Street.
The stock markets overall stabilized in America during the week after the brutal selloff that we have seen. While we have not shown a lot of bullish pressure, we haven’t fallen any further either, which of course is crucial.
The S&P 500 rallied on Wednesday, testing the 2800 level. This is an area that was the beginning of rather significant resistance though, so we struggled to break above it. The question now is whether or not we can take it back?
Facebook hired a former British deputy prime minister, Nick Clegg, as its top policy and communications executive, giving him the task of mending the social network’s image as it deals with closer political scrutiny.
Oct. 17: On a not seasonally adjusted basis, there were 106,100 total housing starts in September, slightly below our forecast of 108,200 starts. While the sharp decline in single-family permits in the South comes as no surprise, we’ll note that there was also a sharp decline in the West.
Investing.com - The S&P 500 closed just below the flatline Friday as upbeat earnings from corporates helped ease investor jitters about global growth.
Influential value investor Bill Nygren (Trades, Portfolio) disclosed this week that he purchased two stocks for his Oakmark Fund in the third quarter, ahead of the deadline for portfolio updates. Warning! GuruFocus has detected 4 Warning Signs with DXC. Nygren purchased DXC Technology (DXC), an information technology company formed through the merger of Computer Sciences Corp. and Hewlett Packard Enterprise Services, for $93.52 per share.
NEW YORK (AP) — U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued to sell former favorites like retailers. Household goods makers rose again as a week of choppy trading concluded.
The Dow Jones Industrial Average gained 104.35 points, or 0.4%, to 25444.34 last week, while the S&P 500 squeaked out a 0.65 point rise to 2767.78, and even the Nasdaq Composite finished off just 0.6%, to 7449.03.
The major indexes finished well off their highs, despite big gains from Procter & Gamble and PayPal. And trade is becoming a bigger issue.
Weight Watchers International (WTW) closed the most recent trading day at $66.43, moving +0.58% from the previous trading session.
Key S&P levels to watch. Is a market comeback in the making? With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Steve Grasso, Brian Kelly and Dan Nathan.