|Day's Range||2,973.09 - 2,998.28|
|52 Week Range||2,346.58 - 3,017.80|
It's time to get technical at the YFi Interactive touch screen. Joining Yahoo Finance's Myles Udland is Jared Blikre to break down today's moves in stocks, bonds, gold, crude oil and Dow components Microsoft, UnitedHealth and Disney. CAT Caterpillar Inc AAPL Apple Inc CSCO Cisco Systems AXP American Express Co WBA Walgreen Boots Alliance Inc NKE Nike Inc Cl B WMT Wal-Mart Stores IBM Intl Business Machines Corp JPM JPMorgan Chase & Co VZ Verizon Communications JNJ Johnson & Johnson XOM Exxon Mobil MRK Merck & Co UNH UnitedHealth Grp Inc MMM 3M Co GS Goldman Sachs Grp PG Procter & Gamble Co $INDU Dow Jones Industrial Average MCD McDonald's Corp MSFT Microsoft Corp DOW Dow Inc CVX Chevron Corporation PFE Pfizer Inc TRV The Travelers Companies Inc KO Coca-Cola Co HD Home Depot Inc INTC Intel Corp V Visa Inc BA Boeing Co DIS Disney (Walt) Co UTX United Technologies Corp
Global stocks rose on Friday as investors firmed up bets on a U.S. interest rate cut at the end of July after a speech by a top Federal Reserve official further cemented expectations for one, fuelling appetite for risky assets and capping the dollar. European shares opened higher across the board, but had given up gains by midday in London. In oil markets, crude surged after the United States said its navy had destroyed an Iranian drone in the Strait of Hormuz, a major chokepoint for global crude flows, raising concerns about supply disruptions out of the region.
Our call of the day, from Mike Wilson, chief investment officer of Morgan Stanley, says investors should not be jumping into this stock market as a 10% correction is right around the corner.
U.S. stocks look set to rise at the start of Friday trade, with Wall Street hopeful that the Federal Reserve will take aggressive action to stamp out signs of stress in the economy. Markets were buoyant even as the Fed attempted to moderate dovish comments made yesterday by the New York Fed president.
Shares of Schlumberger Ltd. swung to a premarket gain of 1.0% Friday, after the oil services company reported second-quarter revenue that beat expectations, while profit that matched. Before the results, the stock was down over 1% after the company said CEO Paal Kibsgaard will retire after 8 years in the role. Net income rose to $492 million, or 35 cents a share, from $430 million, or 31 cents a share in the year-ago period. Excluding non-recurring items, adjusted EPS fell to 35 cents from 43 cents, in line with the FactSet consensus. Revenue was little changed at $8.27 billion, but was above the FactSet consensus of $8.11 billion, as reservoir characterization, production and Cameron revenue topped expectations while drilling came up a bit shy. The stock has lost 14.9% over the past three months through Thursday, while the VanEck Vectors Oil Services ETF has tumbled 22.9% and the S&P 500 has gained 3.1%.
An expected interest rate cut by the Federal Reserve later this month is pushing yield-oriented U.S. fund managers further afield in search of income at attractive prices. While nearly half of the companies in the S&P 500 have a higher dividend yield than the roughly 2.04% yield that benchmark 10-year Treasuries now offer, value-conscious fund managers say they are hesitant to buy shares of companies in dividend-rich utilities or the real estate sector because their valuations are well above historical norms. Instead, fund managers say, they are picking up yield in sectors ranging from energy to technology.
Schlumberger Ltd. said Friday Chief Executive Paal Kibsgaard will retire after eight years in the role and 22 years with the company, and will step down as chairman of the board. The stock fell 1.1% in premarket trading, ahead of the company's second-quarter results due out later Friday. The oil services company said Kibsgaard will be succeeded as CEO by Chief Operating Officer Olivier Le Peuch, a 32-year veteran of the company, effective Aug. 1. "The board owes Paal a debt of gratitude for his excellent leadership in modernizing and transforming the Company to ensure its continued future success," said Lead Independent Director Peter Currie. "We wish Paal the very best as he enters a new chapter in his life." The stock has gained 7.5% year to date through Thursday, while the S&P 500 has rallied 19.5%.
BlackRock Inc. reported Friday second-quarter earnings and revenue that fell below expectations, as the investment management and advisory company said it had lower base fees as a result of lower securities and lending revenue and lower performance fees. The stock slipped 0.2% in premarket trading. Net income fell to $1.00 billion, or $6.41 a share, from $1.07 billion, or $6.62 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS fell to $6.41 from $6.66, below the FactSet consensus of $6.50. Revenue declined 2% to $3.52 billion, missing the FactSet consensus of $3.58 billion. Total net inflows saw 9% organic growth to $151 billion, with iShares inflows of $36.1 billion and institutional inflows of $125.4 billion. The stock has gained 21.0% year to date through Thursday, while the S&P 500 has rallied 19.5%.
Oil jumped on growing geopolitical fears after a US warship shot down an Iranian drone in the Strait of Hormuz, while global stock markets rallied on rising expectations of monetary easing by the US Federal ...
The question of the day on Thursday -- at least in the morning -- was shouldn't we be bearish now that the McClellan Summation Index has turned down, and it has done so from a lower high? It's a very valid question, but let me explain something about the indicator. Or last fall, when the Summation Index was heading down for well over a month while the S&P went on its merry way upward.
U.S. equity futures are pointing to solid gains across Wall Street Friday as investors react to comment from Federal Reserve officials that could signal deeper rate cuts and stronger-than-expected second quarter earnings from Microsoft that look to revive hopes for a tech-lead rally into the second half of the year.
The New York Fed on Thursday played down the importance of President John Williams' speech earlier in the day that was interpreted by the market as an endorsement of a half-point interest rate cut at the end of the month. "This was an academic speech on 20 years of research. It was not about potential policy actions at the upcoming FOMC meeting," a New York Fed spokesman said. In his remarks, Williams said his research showed that, when interest rates are near zero, a central bank should "act quickly to lower rates at the first sign of economic distress." After his remarks, traders priced in a slightly greater than 50% chance of a half-point rate cut on July 31, up from 34% one day ago.
All three major U.S. stock indexes closed with minor gains on Thursday after data published by the Philadelphia Fed showed that manufacturing activity rebounded strongly this month.
Investors took advantage of soaring stock markets, putting $8.8 billion to work in U.S.-based equity exchange-traded funds in the week ended Wednesday, according to Refinitiv's Lipper data on Thursday. Tom Roseen, head of research services at Lipper, said ETF investors were net purchasers of both taxable bond ETFs - more than $1.7 billion - and equity ETFs with more than $8.8 billion. ""While ETF investors put money to work in the latest week, retail investors turned a cold shoulder to equity funds, withdrawing more than $5.1 billion," he said.
U.S. stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the U.S. central bank at the end of the month. Williams said that when rates and inflation are low, policymakers cannot afford to keep their "powder dry" and wait for potential economic problems to materialize. "He's toeing the party line at the Fed, basically implying that an insurance rate cut is the right thing to do for the economy at this point in time," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.
The U.S. dollar wasn’t immune to remarks by New York Federal Reserve President John Williams, with a closely watched index testing its 200-day moving average after he argued the Fed’s limited capacity for easing means it should cut rates at the first sign of trouble.
U.S. stocks close higher Thursday, recovering from early losses, after New York Federal Reserve President John Williams said the central bank’s wisest strategy is to cut interest rates at the first sign of economic distress when interest rates are already low.
(Bloomberg) -- U.S. stocks rebounded and the dollar fell after Federal Reserve Bank of New York President John Williams highlighted the need for swift action should policy makers conclude the economy is in trouble.Consumer and financial stocks led gains in the S&P 500 Index, while Treasury 10-year yields dropped. A positive outlook from Apple Inc. supplier’s Taiwan Semiconductor Manufacturing Co.’s lifted chipmakers. The NYSE FANG+ Index slid on Netflix Inc.’s surprise loss of U.S. customers. A report that Iran made a “substantial” offer on its nuclear program in return for fewer sanctions gave a lift to equities that was later tempered by news that the U.S. shot down an Iranian drone. In after-hours trading, Microsoft Corp. and CrowdStrike Holdings Inc. rallied after sales topped estimates.The futures market edged closer to the idea of a half-point U.S. rate cut this month, with fed funds now pricing in about 42 basis points of easing. Fed Vice Chairman Richard Clarida told Fox Business Network that policy makers shouldn’t wait for the economy to turn down to act. Cutting rates could help cushion some of the blow from uncertainty about trade that’s likely to prove persistent, according to Fed Bank of St. Louis President James Bullard.“We’re in a trade war, you’re seeing the impact on corporate earnings, you’re seeing the central banks forced to scramble to react to that,” Bob Michele, CIO and head of global fixed income at JPMorgan Asset Management, said in a Bloomberg TV interview.Elsewhere, oil slid to the lowest in almost a month as pessimism about a trade truce between the U.S. and China continued to dog markets, while the resumption of Russian pipeline flows fed worries about a supply glut. The pound climbed as the British Parliament backed measures to prevent the next prime minister suspending the legislature to pursue a no-deal Brexit.These are the main moves in markets:StocksThe S&P 500 rose 0.4% to 2,995.11 as of 4 p.m. New York time.The Stoxx Europe 600 Index decreased 0.2%.The MSCI Asia Pacific Index fell 0.6%.CurrenciesThe Bloomberg Dollar Spot Index dipped 0.5%.The euro gained 0.5% to $1.1276.The British pound climbed 1% to $1.2554.The Japanese yen added 0.6% to 107.26 per dollar.BondsThe yield on 10-year Treasuries dipped two basis points to 2.03%.Germany’s 10-year yield declined two basis points to -0.31%.Britain’s 10-year yield was unchanged at 0.759%.CommoditiesThe Bloomberg Commodity Index dipped 0.8%.West Texas Intermediate crude declined 2.6% to $55.30 a barrel.\--With assistance from Nancy Moran, Sophie Caronello, Todd White, Yakob Peterseil, Cecile Gutscher, Tom Keene, Nejra Cehic, Adam Haigh and Vildana Hajric.To contact the reporter on this story: Rita Nazareth in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We're breaking down our five key tips for playing earnings season to avoid getting burned by big gaps down in price — like what we just saw with Netflix earnings.
In the midst of the ongoing trade war, Nick Maroutsos, co-Head of Global Bonds at Janus Henderson Investors, joins Yahoo Finance's YFi AM to discuss the potential for a rate cut, the ongoing trade war and what he expects from upcoming quarterly earnings reports this week.
Even though dozens of S&P 500 companies have issued negative EPS guidance coming into this earnings season, historical data shows there is a good chance the index will report growth in earnings for the second quarter on a year-over-year basis. FactSet's senior earnings analyst John Butters joins The Final Round to discuss.