^GSPC - S&P 500
| Previous Close | 3,006.79 |
| Open | 3,008.42 |
| Volume | 3,239,391,426 |
| Day's Range | 2,984.68 - 3,016.37 |
| 52 Week Range | 2,346.58 - 3,027.98 |
| Avg. Volume | 3,558,363,906 |
- Yahoo Finance Video
Market Recap: Friday, September 20th
Yahoo Finance's The Final Round discuss the market action of the day.
- Yahoo Finance
If Trump hikes tariffs on China to 100% the stock market could crater: top strategist
Fear excess tariffs on Chinese imports, says this top stock market strategist.
Reuters VideosWhat to watch in the week ahead
Wall Street will be looking out for a potential stock market high next week. The S&P 500 is just half a percent away from setting new records. Analysts, however, wonder how long the market can stay in record territory. Though a recent spate of economic data have turned up - lack of progress on the bruising U.S.-China trade war is keeping a lid on an upswing in business and investor sentiment. The clock is already ticking down to a Federal Reserve meeting in October, and the possibility that it could bring the third rate cut of the year. With a major split among policymakers about what should happen next, investors will be listening for clues from no less than ten Fed officials this week. Heading to the mic will be St. Louis Fed President James Bullard, who has argued for aggressive rate cuts, and Kansas City President Esther George, who wants to keep rates where they are. The week also comes with an update on the U.S. economy with a final revision to second-quarter GDP. The big earnings story next week comes from Nike. Investors will be scouring for clues on how America's numerous trade disputes are impacting the world's largest athletic gear maker. And there's also a quarterly update from Carnival. The main focus there: how much has the cruise ship operator been impacted by this year's Atlantic storm season, including the battering Hurricane Dorian delivered to the Bahamas - a Carnival island stop.
- Yahoo Finance
St. Louis Fed's Bullard: 'Prudent risk management' would have been a 50 basis point cut
St. Louis Fed President James Bullard said he would have preferred a 50 basis point cut in the Federal Reserve's meeting on Wednesday, saying trade risks and inflation warrant "aggressively" cutting rates.
- MarketWatch
A stock-market selloff could spark an economic recession, says BNY Mellon’s Liz Young
Investor confidence is playing an abnormally important role in U.S. equity markets, and potentially the entire U.S. economy, BNY Mellon’s Liz Young tells MarketWatch.
- Barrons.com
The Dow Falls as Markets Try to Figure Out What Really Matters
In a week that featured a rate cut, a massive attack on Saudi oil, and turmoil in the repo market, a Montana junket was the ultimate determinant of whether the market finished the week up or down
- Barrons.com
Oil Stocks, Housing, Drug-Price Plans: A Sampling of Advisory Opinion
Stock analysts and newsletter writers discuss the investment prospects for the energy sector, Red rate cuts, P/E ratios, housing.
- MarketWatch
Home-builder NVR to join S&P 500 index
NVR Inc. will join the S&P 500 index this month, the second change to the index announced this week. S&P Dow Jones Indices announced the change Friday afternoon, saying that the home-builder will replace Jefferies Financial Group Inc. in the index as of Sept. 26. Jefferies is moving down to the S&P MidCap 400 index after spinning off Spectrum Brand Holdings Inc. . Earlier in the week, S&P Dow Jones Indices announced that CDW Corp. will also move into the S&P 500 this month, replacing Total System Services Inc., which has been acquired. NVR shares declined 1.2% in after-hours trading Friday.
- Barrons.com
What the Saudi Attacks Mean for Energy Investors
The initial spike in prices soon faded, but the supply disruption and what’s to come needs to be weighed with energy stocks.
- Barrons.com
The Dow Fell 160 Points Because an Interim Trump-China Trade Deal Isn’t Doable
All three major U.S. stock indexes closed Friday in the red, giving up earlier gains. President Donald Trump said there is no need for a trade deal with China before the 2020 election. Chinese officials canceled their visit to farms in Montana.
- MarketWatch
Trump says he doesn’t need China deal before election and unveils Iran central bank sanctions
President Donald Trump on Friday said he didn’t need a trade deal with China before the 2020 elections, as he rejected a partial agreement and said “we have to do it right.”
- Reuters
GLOBAL MARKETS-Stocks fall as China cancels U.S. farm visits, yields dip
An index of global stock markets surrendered early gains on Friday after Chinese agriculture officials who were to visit U.S. farm states next week canceled their trip, dampening optimism on U.S.-China trade talks. Renewed worries about the state of the ongoing trade tensions between Washington and Beijing drove Treasury yields lower and pushed the U.S. dollar down against the safe-haven Japanese yen.
- MarketWatch
Stocks end lower after trade concerns rattle markets
U.S. stocks closed lower Friday, for the first weekly decline in a month, as investors looked beyond a litany of central-bank decisions of the past week and focused on the state of China-U.S. trade talks.
- MarketWatch
Stocks close lower after China cuts short trade visit
U.S. stocks erased early morning gains to close lower Friday, after pessimism over U.S.-China trade relations rose following a decision by the Chinese trade delegation to cancel visits to farms in Montana and Nebraska, potentially signalling a lack of progress on trade negotiations. The Dow Jones Industrial Average fell about 161 points, or 0.6%, to close at 26,934, the S&P 500 index lost 15 points, or 0.5% to end around 2,992 and the Nasdaq Composite retreated roughly 65 points, or 0.8% to end the day at 8,118. The low-level negotiations this week were meant to set the stage for senior officials to hash out a broader deal sometime next month. Also weighing on sentiment were comments by President Donald Trump that he was not interested in a limited trade deal that would ratchet back some barriers in exchange for greater purchases of U.S. agricultural goods. Stock volumes for the S&P 500 were elevated as a result of a "quadruple witching day," as Friday marked the simultaneous quarterly expiration of stock-index futures contracts, single-stock futures, and options on stock-index futures and individual stocks.
- MarketWatch
Fed’s Clarida says U.S. economy is fine but global outlook is getting worse
Fed Vice Chairman Richard Clarida on Friday defended the central bank’s decision to cut interest rates by a quarter-point.
- MarketWatch
Fed’s Rosengren: Rate cut ‘risks further inflating the prices of risky assets and encouraging people to take on too much leverage’
Boston Fed President Eric Rosengren on Friday said he dissented because the rate cut could inflate asset prices further using more debt.
- Reuters
US STOCKS-Wall Street drops after China cancels trip to Montana farmland
Wall Street dropped on Friday, and also finished the week lower, after a Chinese agriculture delegation canceled a planned visit to Montana, dampening optimism about U.S.-China trade talks. The delegates, who had been set to visit U.S. farm states next week, will return to China sooner than originally scheduled, the Montana Farm Bureau said. Major stock indexes fell into negative territory after the cancellation, which came as trade talks were held in Washington and U.S. President Donald Trump said he wanted a complete trade deal, not just an agreement for China to buy more U.S. agricultural goods.
- Investor's Business Daily
Stock Market Falls Sharply On Renewed China Trade War Fears
The Dow Jones Industrial Average and other major indexes closed near session lows as China trade war fears again took center stage.
- Investor's Business Daily
Stock Market Resilient Amid Soaring Crude Oil Prices, Fed Rate Cut, China Trade News; Microsoft, Adobe, FedEx, GM, Roku In Focus: Weekly Review
The stock market lost some ground amid soaring crude oil prices, Fed policy moves and China trade headwinds.
- Bloomberg
Trade Tensions Dent Stocks, Overshadowing Fed Cut: Markets Wrap
(Bloomberg) -- A Friday flare-up in trade tensions between the U.S. and China sent American equities to the first weekly decline in a month. Treasuries capped a fifth straight gain and the dollar rose.The S&P 500 halted a three-day advance on the week’s final day, with losses coming after Chinese trade officials canceled farm visits and President Donald Trump called the nation a threat. Technology and consumer shares sensitive to U.S. tariffs on Chinese goods paced the decline. Stocks edged higher for most of the week after the Federal Reserve delivered a rate cut and promised to do more if needed. Data on housing and manufacturing topped estimates.Treasuries climbed all week, sending the 10-year yield lower by 17 basis points. The move was unrelated to problems in the short-term funding market that prompted the New York Fed to announce a series of overnight operations for the next three weeks to ensure a vital corner of financial markets work properly. The dollar nudged higher in the five days.U.S. equity trading may have been extra volatile Friday because of a quarterly event known as “quadruple witching,” when options and futures on indexes and stocks expire. The moves bring some of the busiest trading days of the year, and volume was above average on the week’s last trading day.After a slew of monetary policy decisions this week, including the Fed’s interest-rate cut Wednesday and pledge to support economic growth, traders are now looking toward negotiations between the U.S. and China. President Donald Trump said Friday he doesn’t want to make a partial trade deal with China and that voters won’t punish him for the ongoing trade war in his 2020 bid for re-election.“I keep calling it the headline hokey pokey -- that’s kind of how it feels,” said Matt Lloyd, chief investment strategist at Advisors Asset Management, which has about $30 billion in assets under management. “The back and forth will continue. I don’t think anything will get done until 2020.”Elsewhere on Friday, the Stoxx Europe 600 Index advanced. The pound fell as the Irish government damped hopes of an imminent breakthrough in Brexit negotiations.Asian stocks saw modest gains on reduced volumes, except in India, where equities soared after the country cut its corporate tax rate. Hong Kong shares slipped while the Shanghai Composite Index added just 0.2% after China’s modest cut to a reference rate for bank loans failed to impress investors.Here are the main moves in markets:StocksThe S&P 500 Index fell 0.5% at the close of trading in New York, leaving it down by the same amount for the week.The Stoxx Europe 600 Index advanced 0.3%.The MSCI Asia Pacific Index climbed 0.4%.The MSCI Emerging Market Index climbed 0.4%.CurrenciesThe Bloomberg Dollar Spot Index rose 0.1%.The euro fell 0.2% to $1.1021.The British pound decreased 0.4% to $1.2473.The Japanese yen gained 0.4% to 107.55 per dollar.BondsThe yield on 10-year Treasuries fell six basis points to 1.72%.Germany’s 10-year yield fell one basis point to -0.53%.Britain’s 10-year yield slipped one basis point to 0.63%.CommoditiesGold rose 1.1% to $1,515.90 an ounce.West Texas Intermediate crude fell 0.1% to $58.09 a barrel.\--With assistance from Adam Haigh, Todd White, Lu Wang and Constantine Courcoulas.To contact the reporters on this story: Brendan Walsh in Austin at bwalsh8@bloomberg.net;Vildana Hajric in New York at vhajric1@bloomberg.netTo contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
