|Day's Range||2,709.54 - 2,721.27|
|52 Week Range||2,397.99 - 2,872.87|
The Wall Street Journal says the issue of car manufacturing has emerged as a major sticking point in the NAFTA talks. Yahoo Finance’s Alexis Christoforous, Melody Hahm, and Dion Rabouin discuss points of contention.
The Russell 2000 Index (^RUT) is up 6.5% this year, compared with 2% for the S&P 500 Index (^GSPC) of large-cap stocks. Small-cap investing maven Jim Callinan has his own theory on why small is beautiful — small-cap growth, that is. “There are lot of ways for growth stocks to continue to do well in an economy that is moribund.
The S&P 500 and Nasdaq were down for the fourth time in five trading sessions. Stocks were falling on Wednesday, May 23, and global equities tumbled as sentiment was dented by comments from Donald Trump that cast doubt on a planned nuclear summit with North Korea and ongoing trade talks with China. Trump told reporters in Washington there was a "substantial chance" his June 12 meeting in Singapore with North Korea's Kim Jong Un may not take place, given the change in tone the regime has displayed since criticizing a joint U.S.-South Korea military exercise last week.
Does the US Steel Industry Look Healthy This Month? President Donald Trump has exempted several regions from the stringent Section 232 tariffs that were imposed on national security grounds. While countries such as Canada, Mexico, Brazil, and Germany managed to get exemptions, Japan was a notable exception.
Red Robin Gourmet Burgers Inc. shares fell to a six-month low, sinking 17.6% in Wednesday trading, after the burger chain reported earnings that missed expectations but analysts remain bullish. Raymond James analysts held on to their outperform rating despite the plunge, calling the reaction "overdone" for a number of reasons, including same-store sales, which fell 0.9% driven by a decrease in average check, but exceed broader industry trends. Canaccord Genuity held on to its buy rating, but also cut its price target to $65 from $75.
Trump signaled a new direction for the trade talks, saying the current track appeared "too hard to get done", a day after telling reporters that he was not pleased with the recent talks. The latest uncertainty comes as investors prepare to assess the Federal Reserve's May meeting minutes, scheduled for release at 2:00 p.m. ET, for indications of how many rate hikes are likely this year. The U.S. central bank lifted borrowing costs in March and policymakers are split between those who expect another two rate hikes this year and those who forecast three, in the backdrop of low unemployment, moderate growth and rising inflation.
U.S. stocks fell in early trading on Wednesday, as geopolitical and trade concerns continued to nag at investors, reversing optimistic sentiment toward these issues that had spurred an equity rally at the start of the week. Comcast Corp.(CMCSA) fell 1.6%.
A stronger dollar and rising U.S. Treasury yields have put the hurt on Turkey and Argentina. The U.S. dollar, measured via the ICE U.S. Dollar Index (IFUS:DX-Y.NYB), a gauge of the greenback against a basket of six major rivals, has jumped 4.2% since the end of the first quarter, having hit a string of 2018 highs in May. It’s up 2% in 2018, after dropping almost 10% in the previous year. This resurgence in the greenback paired with the Federal Reserve’s gradual path to monetary policy normalization makes dollar funding more expensive for emerging market borrowers.