|Day's Range||2,931.43 - 2,946.52|
|52 Week Range||2,346.58 - 2,964.15|
How the strength of the stock market puts less pressure on the U.S. to reach a trade deal with China.
The 2019 corporate earnings picture is showing more signs of weakness. For the third quarter of 2019, Wall Street is expecting a 0.3% year-over-year decline in earnings for S&P 500 companies, compared to their previous forecast of 0.2% growth, according to FactSet. Scott Gamm has the story from the floor of the New York Stock Exchange.
Stocks aren’t in “melt-up” mode yet, but the June rebound could soon begin to foster the same sort of “fear of missing out” feeling that prevailed in April if speculators come off the sidelines, says one quantitative analyst.
The biopharmaceutical company AbbVie plans to acquire Allergan, the maker of Botox, for approximately $63 billion in cash and stock.
“Low volatility” stocks outperform the market while incurring below-market risk. That’s a winning combination—even if the most hyperactive traders find such stocks exceedingly boring.
With President Trump and Chinese leader Xi Jinping poised to restart trade talks, investors still have reasons to fret. The meeting is set for Saturday.
Consumers confidence fell in June to the lowest level in almost two years as Americans grew more worried about trade tensions with China and said it was harder to find a job. The consumer confidence index slipped to 121.5 from a revised 131.1.
President Donald Trump Tuesday morning thanked himself for a stock market that has been mostly clambering to new heights. The 45th president via Twitter touted the buoyancy of the equity markets, saying: “Stock Market is heading for one of the best months (June) in the history of our Country. Stock Market is heading for one of the best months (June) in the history of our Country.
Fed Chair Jerome Powell is among a host of central bank policymakers scheduled to speak amid rising expectations of an interest rate cut for the first time since the financial crisis. The prospect of more monetary stimulus for the economy has helped Wall Street's main indexes rise a least 6.5% this month, with the S&P 500 hitting a record high last week. "We've just got a market here that has perhaps reached a level of fatigue," said Bill Northey, senior investment director at U.S. Bank Wealth Management in Minneapolis.
(Bloomberg) -- U.S. stocks fell while gains in Treasuries pushed the 10-year yield below 2% as simmering geopolitical tensions and economic data damped investor appetite for risk. Gold jumped.The S&P 500 dropped for a third-straight session, the longest since May 9, as U.S. officials downplayed expectations of a resolution to the trade war ahead of highly-anticipated meeting between President Donald Trump and China’s Xi Jinping this week. The 10-year Treasury yield slipped back below 2%, a level that until last week it hadn’t breached in three years, as fresh consumer confidence and housing data added to worries the world’s largest economy is slowing.West Texas oil rose as investors weighed escalating tensions between the U.S. and Iran against the possibility of OPEC+ extending production cuts. Gold jumped to the highest in six years and the yen hit the strongest since January against the dollar. German bund yields fell to a record.With stress between the U.S. and Iran building and the White House apparently playing down hopes of a trade breakthrough when Trump and China’s Xi Jinping meet this week, investors are finding few reasons to prolong the recent central bank-fueled rally. On Tuesday, traders will keep a close eye on Federal Reserve Chairman Jerome Powell, who discusses monetary policy in a speech in New York, amid bets that the central bank will make deep cuts to interest rates this year.There’s “the short-term headlines related to people watching the G-20 and the potential for any news related to the US-China negotiations. That’s one piece that in the shorter run is making the markets a little uneasy. The other one is related to the geopolitical tensions with Iran,” said Omar Aguilar, the chief investment officer for equities at Charles Schwab Investment Management. “The bigger picture still drives the markets, which is we have lower interest rates coming up and the market continues to place a big bet on a July rate cut by the Fed.”Elsewhere, Drugmaker Allergan surged after agreeing to be bought by AbbVie Inc. Bitcoin extended its gains through $11,000.Benchmarks in Shanghai and Hong Kong led the Asia retreat as China Merchants Bank tumbled as much as 10%. The Washington Post reported a U.S. judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in an investigation into North Korean sanctions violations.Here are some key events coming up:Fed Chairman Jerome Powell speaks at the Council on Foreign Relations in New York Tuesday. He’ll discuss the challenges facing the U.S. economy.MSCI Inc. announces results of its 2019 Market Classification Review on Tuesday, including whether Kuwait gets upgraded from frontier to emerging-market status.The Group of 20 summit is in Osaka, Japan on Friday and Saturday.These are the main moves in markets:StocksThe S&P 500 Index fell 0.4% as of 11:44 a.m. New York time.The Stoxx Europe 600 Index dipped 0.1% to the lowest in more than a week.The MSCI Emerging Market Index sank 0.6%.The MSCI Asia Pacific Index decreased 0.2%.CurrenciesThe Bloomberg Dollar Spot Index fell less than 0.05%.The euro dropped 0.1% to $1.1383, the first retreat in a week.The British pound declined 0.2% to $1.2719.The Japanese yen climbed 0.3% to 106.97 per dollar, the strongest in more than 14 months.BondsThe yield on 10-year Treasuries declined three basis points to 1.99%.Germany’s 10-year yield fell one basis point to -0.32%, the lowest on record.Britain’s 10-year yield dipped two basis points to 0.793%.CommoditiesWest Texas Intermediate crude rose 0.4% to $58.28 a barrel.Gold increased 0.9% to $1,430.60 an ounce, reaching the highest in more than six years.\--With assistance from Cormac Mullen and Samuel Potter.To contact the reporters on this story: Randall Jensen in New York at email@example.com;Sarah Ponczek in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Samuel Potter at email@example.com, Yakob Peterseil, Jeremy HerronFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Stock-market bulls might find their summer riding on what happens when President Donald Trump and Chinese leader Xi Jinping meet at the Group of 20 summit in Japan later this week.
The question came to mind this morning as Wedbush analyst Ygal Arounian downgraded the fast-growing web-commerce services company’s shares to Neutral from Buy, while boosting his price target to $305 from $270. Arounian is the latest Wall Street analyst to say more or less the same thing about Shopify stock (ticker: SHOP).
Gold soared to almost a six-year high on Tuesday on escalating U.S.-Iran tensions and U.S.-Sino trade anxiety, leading traders to pile into safe-haven government debt and to snap up the yen and Swiss franc at the expense of the dollar. Gold has gained 10% in price so far this month, climbing above $1,400 an ounce for first time since August 2013 after briefly touching the psychological barrier on Monday. The dollar, meanwhile, fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of an interest rate cut by the Federal Reserve knocked demand for the U.S. currency.
For more than a week now, West Texas Intermediate (WTI) crude oil has been trading north of $70 per barrel, a level we haven’t seen since November 2014. Gas prices are likewise trending up, as I’m sure you’ve noticed. According to the American ...
The Federal Reserve’s investor-friendly stance on interest rates has infused this market with a serious dose of optimism. The Financial Samurai blog has some ideas on how to play it.
The benchmark 10-year Treasury yield fell below 2% again, and prices held their gains after disappointing U.S. economic data. The Dow Jones Industrial Average also dipped.
Shares of Sally Beauty Holdings Inc. rallied 0.8% in morning trading, to bounce off the previous session's near 9-year low, after Instinet analyst Simeon Siegel said it was uncertain whether Amazon.com Inc.'s launch of its Professional Beauty Store will actually trigger change. The stock had tumbled 16.8% on Monday, the second-biggest one-day drop since it went public in November 2006, to close at the lowest price since November 2010. Siegel said that while Amazon's new beauty store will carry brands including Wella Color, RUSK and OPI Professional, all which are carried on Sally Beauty's website, many of those products are already widely available online, and on Amazon. "That said, beauty has largely been outside of [Amazon's] shares grab thus far..., so a decision to make a broader push into the category shouldn't be ignored," Siegel wrote in a note to clients. Meanwhile, Ulta Beauty Inc.'s stock inched up less than 0.1%, after falling 2.6% on Monday after the Amazon news. Sally Beauty's stock has lost 27% year to date and Ulta shares have rallied 42%, while the SPDR S&P Retail ETF has gained 1.5% and the S&P 500 has climbed 17%.
U.S. stocks drift lower as investors await remarks by Federal Reserve Chairman Jerome Powell and other central bankers and look ahead to a meeting between President Donald Trump and Chinese leader Xi Jinping this weekend.
Verizon stock usually is a dividend play, as are the shares of its rival AT&T.; But Verizon 5G lies ahead. Here's what various analyses say about Verizon as 5G wireless comes into play.
World Bank President David Malpass weighs in on global slodown concerns. Yahoo Finance's Zack Guzman & Brian Cheung discuss.