|Day's Range||2,685.61 - 2,702.84|
|52 Week Range||2,340.91 - 2,872.87|
Gold futures trades lower Thursday, retreating from the one-week high notched a day earlier, but the contract remains confined to the tight trading range seen over the last several sessions.
In the previous part of this series, we saw that Morgan Stanley (MS) thinks the bull market will end soon. It said the present bull market has already priced in the market movement and there is nothing else that will strengthen it. The most important factor investors should watch in the present scenario is earnings growth, which plays a major role in market movement.
Earnings per share and revenues both beat analyst estimates. Snap-on's gains made it the biggest gainer in the S&P 500 on Thursday morning. The tool and diagnostic equipment manufacturer reported first-quarter earnings per share of $2.82, beating Wall Street estimates of $2.72.
A warning from Taiwan Semiconductor (TSMC) , the world's largest contract chipmaker and an Apple supplier, on soft demand for smartphones and on the semiconductor industry's growth this year sparked a tumble in chip stocks. Apple's (AAPL.O) shares also fell 2.3 percent, with analysts telling Reuters that TSMC's warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq.
A warning from Taiwan Semiconductor (TSMC), the world's largest contract chipmaker and an Apple supplier, on soft demand for smartphones and on the semiconductor industry's growth this year sparked a tumble in chip stocks. Apple's shares also fell 2.3 percent, with analysts telling Reuters that TSMC's warning was related to the iPhone maker. Apple was the biggest drag on the Dow Jones Industrial Average and the Nasdaq.
The S&P 500 rose ~0.1% to 2,708.64 on April 18, 2018. The index rose slightly due to bullish momentum in the energy and industrial sectors. Five out of ten major sectors in the S&P 500 rose on April 18, 2018.
If they’re a harbinger of the rest of earnings season, then stocks will likely move higher as more companies report. The other big reason for the rebound is that “Trump risk” appears lower now than it did when I wrote about it a month ago, largely because talk of a full-blown trade war with China has diminished.
The numbers: The leading economic index rose 0.3% in March, and while it was the smallest increase since last September, the gauge also showed little reason to be worried. The index “points to continued solid growth in the U.S. economy for the rest of the year,” said Ataman Ozyildirim, a senior economist at the Conference Board, publisher of the report. Several indicators of labor-market health softened a bit, but that likely reflects seasonal distortions caused by the Easter holiday.
W.W. Grainger reclaimed a buy zone after crushing earnings views Thursday with accelerating top- and bottom-line growth. The industrial supplies retailer and distributor raised guidance.
So far, Industrial companies have performed well in the first quarter of 2018. Two companies, SWK and ROP, are slated to release their results tomorrow. Let's us see what's in store for them.
Shares of GrafTech International Ltd. fell 2% in their first few minutes of trading Thursday, after the company priced its initial public offering at $15, well below its $21 to $24 price range. The company ...
Over 100 million people have signed up for Prime worldwide. Yahoo Finance’s Alexis Christoforous, Andy Serwer, and Julia La Roche discuss whether or not this makes Amazon a monopoly.