|Day's Range||2,657.99 - 2,682.86|
|52 Week Range||2,352.72 - 2,872.87|
Market recap for Monday, April 23rd
U.S. stock index futures edged higher ahead of Tuesday's open, as nerves alleviated as the U.S. 10-year Treasury yield backed off from the 3 percent mark. Around 5:45 a.m. ET, Dow futures rose 113 points, indicating a higher open of 110.31 points. In corporate earnings, 3M , Biogen , Caterpillar , Coca-Cola , Eli Lilly , Lockheed Martin , United Technologies , Verizon , Harley-Davidson , Restaurant Brands International , Amgen , Chubb , Capital One and Wynn Resorts are all set to publish their latest financial updates.
Futures rose modestly Tuesday as the 10-year Treasury yield backed off. Alphabet rose after strong earnings. . Stock indexes have been stuck below 50-day lines.
Global shares mostly rose Tuesday as a surge in U.S. bond yields pushed the value of the dollar higher against other major currencies. KEEPING SCORE: France's CAC 40 was little changed, inching down less ...
is stretching out, but a sweep higher in oil prices are gaining attention as a possible trigger for hitting the milestone. It has not crossed above 3 per cent since January 2014 and has risen from around 1.8 per cent before the election of Donald Trump on the prospect of inflationary policies, including the biggest package of tax cuts in a generation. Now, investors are keeping watch on Brent crude prices and their possible impact on inflation, which generally erodes the appeal of longer-term debt.
World stocks steadied on Tuesday after three sessions of losses thanks to strong earnings from the likes of Google and as a rise in U.S. bond yields towards the key 3 percent level stalled, while oil prices stretched to fresh highs above $75 a barrel. European stocks opened broadly higher (.STOXX) with blue-chip stock markets in London (.FTSE) and Frankfurt (.GDAXI) 0.3 percent higher, while shares in Paris (.FCHI) were flat.
Global stocks edged higher Tuesday, pulling European shares and U.S. equity futures into positive territory, even as Treasury yields continue to flirt with 3% and oil surged past $75 a barrel, ensuring inflation concerns will remain foremost in investors' minds in days and weeks ahead. A busy slate of corporate earnings, however, could impact the day's direction, with several blue chips reporting including Dow components 3M Co.
Wall Street is also seen higher, with E-Minis for the S&P 500 (ESc1) gaining 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan tacked on 0.1 percent following two straight days of declines that took it to its lowest since April 9. Japan's Nikkei (.N225) added 0.9 percent as a lower yen supported export-heavy firms.
Sell a lot at a narrow profit margin, and you have a business model so well known it’s become part of the language: pile ’em high and sell ’em cheap. There’s a vital question for investors: Will those margins fall now that wage pressures are on the rise? The consensus forecast for the S&P 500 has after-tax adjusted profit margins hitting 11.1%, a new post-Lehman record, according to John Butters, a FactSet analyst.
The S&P 500 was largely unchanged Monday as a stock-market rally that once appeared unstoppable entered its longest stretch of vulnerability since the financial crisis. Monday’s increase of less than 0.1% marked the 51st trading day since the index suffered a correction—a decline of at least 10% from a recent high—its longest stretch in correction territory since 2008. Investors tepidly traded most of the day, with the fewest number of shares changing hands since Dec. 29.
Rising interest rates are likely to sting the stock market, but a 3 percent or even higher 10-year yield isn't enough to cause a meltdown.
For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America. Not so much any more.
The S&P 500 just recorded a dubious milestone. The broad-market benchmark has put in its longest run in correction territory since May 1, 2008, according to WSJ Market Data Group. The S&P 500 index (^GSPC) has been in correction territory, defined as a decline of at least 10% from a recent peak, for 51 trading sessions, including Monday’s lackluster finish for the index.
Hysteria over a flattening yield curve saw a brief reprieve after a sharp selloff in long-dated government bonds sent the 10-year Treasury yield in striking distance of 3%, a key psychological level. See: Stock investors are freaking out about bonds ending a 3 decadelong bull run—but should they be? Market participants had blamed the swiftness of the bearish move on the oil prices(CLM18.NYM) nearing $70 a barrel which drove 10-year break-even rates, or inflation expectations, over the next decade, close to a more than three-year high of 2.19%, according to Tradeweb data.
Government bond yields climbing and a shrinking gap between short-term and long-term Treasury rates have prompted some consternation on Wall Street, driving equity prices lower as investors fret about what these dynamics mean for U.S. economic growth as it enters its ninth year of expansion. Fears about a so-called flattening yield curve have taken center stage, with investors fixated on the gap between the 2-year Treasury notes (XTUP:TMUBMUSD02Y=X) and the 10-year benchmark (XTUP:TMUBMUSD10Y=X), which last Tuesday touched the narrowest point—41 percentage points—in more than a decade. The yield curve is often tracked as a measure of sentiment about the economy’s overall health.
Henry Schein (HSIC) outpaced all other S&P 500 components on Monday, on news that it will spin off the Animal Health business. Henry Schein gained $4.72, or 6.8%, to $73.79. The S&P 500 rose 0.15 points, ...