|Day's Range||2,912.99 - 2,932.59|
|52 Week Range||2,346.58 - 2,964.15|
NatWest Markets Chief U.S. Economist Michelle Girard joins Jen Rogers, Myles Udland and Andy Serwer to discuss the timing of the Fed rate cuts and the outlook for the U.S. economy.
A new Bankrate study shows that 40% of Americans believe the recession has already begun, and 28% of Americans don't have an emergency fund. Bankrate.com Chief Financial Analyst Greg McBride joins Yahoo Finance's Zack Guzman and Sibile Marcellus, along with Beth Comstock, former GE Vice Chair and ‘Imagine It Forward’ author, to discuss.
Treasury Secretary Steven Mnuchin on Wednesday said there's a path to finish a trade deal with China. Yahoo Finance's Dan Roberts, Melody Hahm and Myles Udland speak to Akiko Fujita.
A growing number of large U.S. companies are expressing concerns over falling profit margins and that could spell trouble for stock-market valuations.
Stock futures: After Wednesday's stock market rally fizzled, Wedbush initiated coverage on AMD, Intel and Nvidia stock. The FAA has found a Boeing 737 Max "risk."
Asian share markets turned higher on Thursday following a media report the United States and China have tentatively agreed to a truce in their trade war, ahead of a closely-watched meeting between the two nations this weekend. The South China Morning Post (SCMP), citing sources, said in Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports. On Wednesday, U.S. President Donald Trump said a trade deal with his Chinese counterpart Xi Jinping was possible this weekend though he was prepared to impose tariffs on virtually all remaining Chinese imports if talks fail.
Asian shares crept higher on Thursday following a media report the United States and China have tentatively agreed to a truce ahead of a highly-anticipated weekend meeting of the two nations' leaders in Tokyo. The South China Morning Post (SCMP), citing sources, said Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports. On Wednesday, U.S. President Donald Trump said a trade deal with his Chinese counterpart Xi Jinping was possible this weekend though he was prepared to impose tariffs on virtually all remaining Chinese imports if talks fail.
One of the critiques of the Trump administration’s tariff policy on China is that while it raises the cost of doing business in one low-cost country, it just pushes multinationals to do business in another. Now, President Donald Trump is saying he might go after Vietnam as well.
The world’s No.1 cryptocurrency hit its highest level in about 17 months on Thursday, extending a month long rally.
(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.European stocks edged higher and U.S. equity futures rose alongside Asian shares on growing optimism America and China will declare another truce in their trade war at a presidential meeting on Saturday. Treasuries, gold and the yen extended losses.The Stoxx Europe 600 Index advanced led by retailers, with shares of H&M rallying as the clothing chain said that sales rose in June, though profit dropped and the company cut expansion plans. Equity benchmarks in Tokyo and Hong Kong posted gains of more than 1%, and stocks also climbed from Seoul to Shanghai ahead of the G-20 meeting in Japan. Most European bonds tracked the drop in Treasuries, while crude oil gave up a slice of its recent jump. The yuan edged up offshore.The Saturday sit-down between Presidents Donald Trump and Xi Jinping in Osaka, Japan, looms as a pivotal event for markets, with the reports about a tariff pause contrasting with Trump’s repeated reminders that more hikes in duties are possible. While the trade saga is taking center stage for the moment, investors continue to assess the prospect for the Federal Reserve to help cushion the outlook with interest-rate cuts.“We should not expect too much from the Osaka meeting,” Christian Nolting, global chief investment officer at Deutsche Bank Wealth Management told Bloomberg TV. “To be overly optimistic could be on the wrong side for this weekend.”These are the main moves in markets:StocksFutures on the S&P 500 Index advanced 0.5% as of 8:24 a.m. London time.The Stoxx Europe 600 Index gained 0.2%, the first advance in a week.The U.K.’s FTSE 100 Index increased 0.1%.The MSCI Emerging Market Index climbed 0.8% to the highest in seven weeks.The MSCI Asia Pacific Index jumped 0.9%.CurrenciesThe Bloomberg Dollar Spot Index gained less than 0.05%.The euro dipped less than 0.05% to $1.1367.The British pound advanced 0.1% to $1.2703.The Japanese yen decreased 0.2% to 108.04 per dollar, the weakest in a week.BondsThe yield on 10-year Treasuries increased two basis points to 2.06%, the highest in more than a week.Germany’s 10-year yield gained two basis points to -0.28%, the highest in more than a week.Britain’s 10-year yield advanced three basis points to 0.858%, the highest in a week.CommoditiesWest Texas Intermediate crude fell 0.6% to $59.00 a barrel, the largest fall in more than a week.Gold dipped 0.4% to $1,403.58 an ounce.\--With assistance from Nancy Moran.To contact the reporters on this story: Adam Haigh in Sydney at email@example.com;Laura Curtis in London at firstname.lastname@example.orgTo contact the editor responsible for this story: Samuel Potter at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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After spending most of the day in the black, U.S. stocks slid late in Wednesday’s session. Ahead of the G-20 meeting, hopes are up that the U.S. and China have a path to achieve a trade deal.
Health care, utilities stocks fell about 1.1%, leading markets lower. Stocks closed mostly lower Wednesday, as investors grew increasingly skeptical that a U.S.-China trade deal is in the offing, though technology shares were supported by optimism related to Micron Technology’s better-than expected guidance. The Dow Jones Industrial Average (DJIA) fell 11.4 points, or less than 0.1%, to 26,536.82, but had been as high as 26,669, while the S&P 500 (SPX) fell 3.6 points, or 0.1%, to 2,913.78, representing a fourth straight decline for the index, its longest string of loses since a similar downturn ended May 9, FactSet data show.
Famed hedge-fund manager Kyle Bass tells investors to ignore G-20 hopes and focus prepare for the worst.
Pier 1 Imports Inc. shares were down 16% in after-hours trading Wednesday after the retailer reported fiscal-first quarter earnings. Pier 1 reported a net loss of $81.7 million, or $19.97 a share, compared with a loss of $28.5 million, or $7.11 a share, a year earlier. The company completed a 1-for-20 reverse stock split on June 20. Net sales for the quarter fell to $314 million from $371 million in the year-earlier period. Analysts surveyed by FactSet expected $330 million in revenue. The company posted a 13.5% drop in comparable-store sales compared with a year prior. Pier 1 shares have gained 44% so far this year, as the S&P 500 has risen 16%.
The dollar edged higher and European shares fell on Wednesday as traders curbed expectations of an aggressive U.S. interest rate cut in July, while Wall Street traded little changed on mixed signals over China-U.S. trade talks at the G20 summit in Japan. Gold fell about 1% a day after Federal Reserve Chairman Jerome Powell said the U.S. central bank is "insulated from short-term political pressures," suggesting policymakers would not bow to President Donald Trump's call to sharply cut rates. Trump said Powell was doing a "bad job" and he urged the Fed to lower rates so that U.S. exports can compete with countries that he said are devaluing their currencies.
The S&P 500 ended lower on Wednesday as gains in technology stocks were offset by a drop in healthcare shares, and investors parsed mixed messages over prospects for a deal to end a trade war between the United States and China. Technology shares led the Nasdaq higher while the Dow Jones Industrial average posted a nominal loss.