|Day's Range||2,805.89 - 2,812.92|
|52 Week Range||2,417.35 - 2,872.87|
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action.
Yahoo Finance's Jared Blikre joins Seana Smith from the floor of the New York Stock Exchange to discuss the latest market moves.
German owners of the Tesla (tsla) Model S have been ordered by a government agency to repay a 4,000 euros ($4,640) subsidy on electric vehicles, because the cars are to expensive to qualify for the government program. The Federal Office for Economic Affairs and Export Control, which goes by the acronym BAFA, said it has attempted to hold talks with Tesla in recent months on the issue, but has failed to reach agreement. The subsidy is available for electric cars that cost no more than 60,000 euros, which is the list price for the basic Model S. But Tesla has been unable until now to deliver the basic model to its German clients, and more expensive trims do not qualify.
Traders would be wise to scour Jefferies' "Franchise Pick" stock list, like now. In June, the list of stocks outperformed the S&P 500 by 160 basis points on a total return basis. Considering the market has been meandering at best of late on trade war and inflation concerns, any stock list that beats the market is reason to take notice.
On a day when highly valued tech stocks were one of the biggest drags on the benchmark index, Amazon.com Inc (AMZN.O) became the second company after Apple (AAPL.O) to top $900 billion in market value before retreating. Berkshire Hathaway's Class B (BRKb.N) shares rose 3.9 percent and were the biggest boost to the S&P 500 after the company eliminated a restriction on its ability to buy back its stocks. Industrials were boosted by earnings beat from United Airlines (UAL.N) and railroad CSX Corp (CSX.O), which helped ease concerns about the impact of the trade dispute on domestic hauls.
J.P. Morgan's Erdoes warns Wall Street may be growing too comfortable their portfolios and could be unprepared for a downturn. "I would take a summer look at your portfolio and make sure you are not over your skis when you didn’t realize it," she advised at the Delivering Alpha conference. State Street Global Advisors CEO Cyrus Taraporevala echos Erdoes, adding that said he is urging clients to "weather-proof" their allocation.
Oil driller EOG Resources currently pays a paltry dividend, but its growth plan could lead to market-beating total returns in the coming years.
A new non-opioid drug for osteoarthritis pain being developed by Pfizer Inc. (PFE) and Eli Lilly & Co. (LLY) had positive early results in a phase 3 clinical trial, the companies announced on Wednesday. Patients who received two doses of the drug had a statistically significant improvement in pain, physical function and their own assessment of their osteoarthritis, relative to patients on the placebo. More information about progressive osteoarthritis seen in patients is still needed, though, said EvercoreISI analyst Umer Raffat, and the companies in particular "likely [need] longer follow up before being more definitive" about tanezumab's safety.
Here Are Three Hot Things to Know About Stocks Right Now The Dow Jones Industrial Average has closed higher for four straight sessions. Morgan Stanley rose 3% after second-quarter earnings smashed analysts' estimates.
U.S. stocks trade mixed, with the Dow Jones Industrial Average inching up, but the broader market edges lower as a slump in the energy sector drags the market lower.
NEW YORK (AP) — U.S. stocks are mixed in early trading Wednesday as energy companies fall with the price of oil, but industrial companies including railroads and airlines climb after a round of strong second-quarter reports.
Cyrus Taraporevala, president and CEO of State Street Global Advisors, called the state of U.S. equities a stock picker's market at CNBC's Delivering Alpha conference in New York on Wednesday. As a result, Taraporevala predicts that actively managed funds will outperform their passive counterparts. SSGA especially saw value in global finance, health care and parts of the internet and technology sector.
Let's put Cardtronics plc (CATM) stock into this equation and find out if it is a good choice for value-oriented investors right now.
Amazon.com Inc. (amzn) said Wednesday that it got more new Prime members on July 16 than any other day in the company's history. Chief Executive Jeff Bezos announced in April that Prime membership had reached 100 million. The Prime Day shopping event began at 3pm ET on July 16 and lasted 36 hours.
As tech companies continue to dominate Wall Street, with four now standing alone with valuations of more than $800 billion, gigantic growth is priced in and expected. All the drama is in the forecasts.
The Dow Jones Industrial Average inched higher early Wednesday and the broader market saw subdued action at the open, as investors awaited fresh impetus to push equities in either direction. Wall Street was set to hear a second day of testimony, at 10 a.m. Eastern Time, from Federal Reserve Chairman Jerome Powell. This time in front of the House Financial Services Committee, a day after after he expressed optimism about the economy in front of the Senate and hinted at further rate increases in 2018, "for now." An anecdotal survey of business conditions in the Fed's districts, known as the Beige Book, to be released at 2 p.m. also was in focus.
World stocks hit a one-month high on Wednesday as strong company earnings and a bullish outlook from the head of the U.S. central bank buoyed the dollar. Morgan Stanley became the latest heavyweight U.S. bank to deliver a jump in profitsm though Wall Street looked set for a groggy start after reclaiming the 2,600-point mark [.N] on Tuesday. Germany's DAX climbed to its a one-month high on hopes the European Union and United States would cut a deal on car tariffs.
Sinclair Broadcast Group, Inc. will amend some of its previously-announced divestitures ahead of its acquisition of Tribune Media Company (TRCO) Sinclair (SBGI) announced Wednesday. The amendments are in response to Federal Communications Commission chairman Ajit Pai's comments earlier this week about his concern that "certain station divestitures that have been proposed to the FCC would allow Sinclair to control those stations in practice, even if not in name, in violation of the law." Sinclair has withdrawn pending divestitures of stations in Dallas and Houston to Cunningham Broadcasting Corporation, and plans to request permission to put the stations into a divestiture trust that will be operated and sold by an independent trustee.
Let???s see if Reliance Steel & Aluminum Co. (RS) stock is a good choice for value-oriented investors right now from multiple angles.