|Day's Range||7,986.40 - 8,032.64|
|52 Week Range||6,343.96 - 8,133.30|
President Trump calls the congressional spending plan 'ridiculous'
Live from the floor of the New York Stock Exchange, Alan Valdes of Silverbear Capital joins Yahoo Finance's Seana Smith and Dion Rabouin to discuss the latest market moves.
An MSCI index tracking shares in 47 countries rose 0.3 percent to a three-week high, supported by gains in Europe and Asia, but Chinese equities dipped after a two-day rally due to bets of government stimulus to limit the economic damage of new trade barriers. For his part, Chinese Premier Li Keqiang said this week he would not would not weaken the yuan to boost exports.
Nine of the 11 major S&P sectors were higher, and the Dow Industrials, which had lagged the Nasdaq and the S&P, quickly moved back into record territory in morning trade. "The new record territories for the Dow and the S&P are fueled by lesser trade worries and just general enthusiasm about the economy," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The Dow and the S&P 500 hit record highs on Thursday, clearing away investors' immediate concerns over trade at the start of this week and leaving Wall Street free to return to a rally that now dates back a decade. Nine of the 11 major S&P sectors were higher, and the Dow Industrials, which had lagged the Nasdaq and the S&P, quickly moved back into record territory in morning trade.
"Our general view on the trade issue is that so far it has not been economically significant," Mona Mahajan, U.S. Investment Strategist at Allianz Global Investors in New York. "Some market participants are hoping that China comes to the table and negotiates a deal, so perhaps there's a little bit more of that," Mahajan said, referring to the bullish sentiment lifting equities. The MSCI index tracking shares in 47 countries rose 0.71 percent to a three-week high, supported by gains in Europe and Asia.
Within the S&P 500, financials, materials, and technology stocks were in the lead, while real estate and utilities were the only two sectors in the red.
U.S. stocks rallied on Thursday, with both the Dow and the S&P 500 climbing to record levels as the market’s uptrend continued on the back of strong economic data, which overshadowed escalating U.S.-China trade tensions.
The Dow Jones Industrial Average on Thursday morning put in its first intraday record in about eight months and the S&P 500 index opened at an all-time high as well, as the stock market extended a recent rally underpinned by a healthy economic backdrop in the U.S. The Dow rose by more than 230 points, and was most recently up 0.9% at 26,638.93, surpassing its intraday record at 26,616.71, which marked the last time that the blue-chip benchmark scored a record on Jan. 26. The S&P 500 index also notched an all-time high at the 2,924.89, and was recently up by 0.6%. Meanwhile, the Nasdaq Composite Index gained 0.7% at 8,007. Although many are concerned that a full-blown trade war will become a huge headwind to global economic growth, investors have repeatedly shrugged off the issue over the past several months, choosing instead to focus on signs of improving economic fundamentals. In the latest economic data, first-time jobless claims fell by 3,000 last week, dropping to their lowest level since November 1969. Separately, the Philadelphia Fed manufacturing index jumped more than expected in September, rising to 22.9 from 11.9 in the previous month.
U.S. stocks rose at the open with the S&P 500 hitting a record high on Thursday, helped by a bounce back in technology stocks and relief that fresh U.S. and China tariffs were less damaging than feared. ...
The three major stock market indexes ??? the Dow 30, S&P 500 and Nasdaq Composite ??? are at present within the striking distance to achieve their all-time high level.
Global stocks gain with benchmarks edging higher but casting a keen eye across oil and government bond markets as the trade war headline cycle goes quite. Oil prices should support early gains for the Dow, with futures pointing to a 150-point opening bell gain, with the S&P 500 and the Nasdaq rising firmly from last night's close.
SINGAPORE (AP) — European markets climbed Thursday following a mixed day in Asia, buoyed by hopes the U.S. and China will proceed with talks to tackle their escalating trade dispute.
A bounce in world stocks on relief that fresh U.S. and Chinese tariffs on reciprocal imports were less harsh than feared continued on Thursday, although investors remained wary about the next steps in the US-Sino trade war. An MSCI index tracking shares in 47 countries rose 0.3 percent to a three-week high, supported by gains in Europe and Asia, but Chinese equities dipped after a two-day rally due to bets of government stimulus to limit the economic damage of new trade barriers.
Dimon made his remarks as investors have been mostly dismissing an escalation in trade tensions between the U.S. and China, with a fresh round of tariffs between the economic superpowers set to take effect Sept. 24.
By Stephen Culp NEW YORK (Reuters) - The S&P 500 and the Dow Jones industrial average rose on Wednesday, with the Dow hitting its highest closing level since late January as rising Treasury yields boosted ...
U.S. stocks close mostly higher Wednesday as investors took escalating trade tensions in stride to instead focus on improving economic fundamentals even as a weak technology sector hobbled the Nasdaq.
Major U.S. stock indexes ended mixed Wednesday as gains in banks were offset by losses elsewhere in the market. Bond yields climbed to the highest level in four months, sending bank shares higher and weighing ...
The S&P 500 and the Dow Jones industrial average rose on Wednesday, with the Dow hitting its highest closing level since late January as rising Treasury yields boosted the financial sector and trade worries subsided. The tech-heavy Nasdaq ended the session slightly lower.
U.S. stocks on Wednesday ended mostly higher, with the Dow Jones Industrial Average and the S&P 500 index ending within a stone's throw of a fresh record as investors shook off U.S.-China trade-war worries. The Dow rose about 160 points, or 0.6%, at 24,406, closing within 0.8% of its Jan. 26 all-time record at 26,616.71. The S&P 500 index , meanwhile, closed up 0.1% at 2,907, not far from its all-time peak above 2,914. The Nasdaq Composite Index , however, lagged behind its peers, closing about 0.1% lower at 7,950. A rise in yields for the 10-year Treasury note to its highest level since May around 3.08%, helped to lift shares of financial companies, which enjoyed the best performance on the day among the 11 sectors of the S&P 500. A popular fund used to bet on the financials sector, the Financial Select Sector SPDR ETF , rose by 1.8%, representing the best daily gain since July 9. In corporate news, Wall Street focused on shares of Tilray Inc. , which surged in an extremely volatile day, after the U.S. Drug Enforcement Administration signed off on a plan for the company to import a marijuana product to test its effectiveness in treating a disorder that affects millions of Americans. On Wednesday, the stock was halted multiple times after surging by 94% before ending up 38%. The stock has been a trading favorite this past month as investors bet that stocks related to marijuana could see massive growth. Tilray has surged more than 600% over the past month.