|Day's Range||8,103.38 - 8,146.15|
|52 Week Range||6,190.17 - 8,339.64|
Stocks were little changed midsession Wednesday, as tensions between the U.S. and China over Hong Kong protests weighed on efforts to complete a trade deal, and after a weak retail sales report offset better-than-expected corporate earnings reports.
The S&P; 500 was steady, as the major indexes opened lower but pared losses. Retail was the best performing sector despite a weak reading on September sales.
U.S. stocks were flat on Wednesday as a raft of upbeat earnings reports underlined a solid start to third-quarter results, while concerns over an escalation in the U.S.-China trade war and weak economic indicators lingered. Wall Street came under pressure after the U.S. House of Representatives on Tuesday passed legislation related to pro-democracy protests in Hong Kong, while data on Wednesday showed a fall in U.S. retail sales for the first time in seven months in September. PNC Financial Services Group Inc and Bank of New York Mellon Corp also rose after better-than-expected earnings.
Keith Weiss trimmed his price targets on a host of high-multiple software stocks, and warned that growing competition and other factors will likely limit the multiple investors will pay for Slack.
Wall Street inched lower on Wednesday, as a congressional bill related to the Hong Kong protests stoked fears of more friction with China, even as another round of positive earnings reports underlined a solid start to third-quarter results. PNC Financial Services Group Inc and Bank of New York Mellon Corp also rose after better-than-expected earnings.
WASHINGTON (MarketWatch) - Business inventories in the U.S. were flat in August after a revised 0.3% increase in the prior month, the Commerce Department said Wednesday. Sales rose 0.2% in the month. The ratio of inventories to sales, meanwhile, was unchanged at 1.40. That's how many months it would take to sell all the inventory on hand. One year ago, the inventory-to-sales ratio was 1.35. An increase in inventories adds to gross domestic product while a decrease subtracts from it.
While the Big 3 stock market indexes lost ground, market internals are painting a more positive picture. The number of advancing stocks outnumbered decliners 1,318 to 1,227 on the NYSE and 1,226 to 1,169 on the Nasdaq Exchange. Volume of advancing stocks represented 57.3% of total volume on the Big Board and 52.3% of total volume on the Nasdaq. Meanwhile, the Dow Jones Industrial Average fell 40 points, or 0.2%, the S&P 500 slipped 0.2% and the Nasdaq Composite gave up 0.4%, while the Russell 2000 index of small capitalization stocks rose 0.1% and the Dow Jones Transportation Average tacked on 0.3%.
Investors have long been told that the ideal portfolio should carry 60% of its holdings in equities and 40% in bonds, a mix that provides greater exposure to historically superior stock returns, while also granting the diversification benefits and lower risk of fixed-income investments. “The relationship between asset classes has changed so much that many investors now buy equities not for future growth but for current income, and buy bonds to participate in price rallies,” Harris and Woodard wrote.
U.S. stocks opened modestly lower Wednesday morning as the market reacted to weaker-than-expected economic data and geopolitical developments. The Dow Jones Industrial Average slipped 50 points, or 0.2%, to 26,969, the S&P 500 index fell 0.2% to 2,988, while the Nasdaq Composite Index retreated 0.4% to 8,118, near the opening bell. A report on retail sales showed that it fell 0.3% last month, the government said Thursday, ending a streak of six straight strong gains that helped to fuel economic growth in the middle of the year. Economists polled by MarketWatch had expected a 0.3% increase. Consumers have been the pillar of the current economic expansion and cracks in that segment of the U.S. economic sentiment. Moves for stocks come as investors also digest quarterly results from American companies, with Bank of America Corp. reporting profits that topped analysts' consensus estimates and United Airlines Holdings Inc. also posted third-quarter results that topped expectations.
Fed funds futures markets on Wednesday indicated a 90.3% probability that the Federal Reserve will cut interest rates for a third consecutive meeting when the central bank's interest-rate setting committee gathers Oct. 30 and 31, up from a 73.8% chance Tuesday, according to CME Group data. The move follows a Commerce Department estimate that U.S. retail sales fell in September for the first time in seven months. The yield on the 10-year U.S. Treasury note fell 2.7 basis points to 1.742%, that on the 2-year note fell 3.7 basis points to 1.577%, while the 30-year Treasury Bond yield retreated 0.6 basis point to 2.226%. A monthlong strike at General Motors may have contributed to weaker sales, after it has idled tens of thousands of workers in the Midwest.
Investors appear disappointed at a lack of positive news from Europe on Brexit, while concerns about U.S.-China trade talks continued after the U.S. House of Representatives demonstrated its support for Hong Kong protesters.
Multiple technical improvements have happened on the index charts. However, other factors are tempering our enthusiasm to some degree. Also, we find it hard to believe the recent volatility resulting from trade war headlines has left the scene.
Among top semiconductor stocks, AMAT stock is holding near highs as it tries to break free from a cup-shaped base with a 52.52 buy point.
The three main U.S. stock indexes finished with substantial gains on Tuesday as third-quarter earnings reports began to roll in. Positive results from blue-chip companies such as JPMorgan, Johnson & Johnson, and UnitedHealth drove stocks higher.
Bottoming bases occur in some new market winners at the end of a severe correction. Here are some tips on how to identify the constructive action.
U.S. stocks finished closer to records Tuesday as the corporate earnings reporting season got off to a good start and investors weigh the implications of a partial U.S.-China trade deal.
Wall Street advanced on Tuesday as third-quarter reporting season hit with a spate of upbeat earnings reports that brought buyers back to the equities market. All three major U.S. stock averages gained ground in a broad-based rally, with the S&P 500 and the Nasdaq hitting their highest closing level in more than three weeks. "Positive earnings are flowing through equity markets today, suggesting that things weren't as bad as investors thought," said Charlie Ripley, senior market strategist for Allianz Investment Management in Minneapolis.
The stock market closed sharply higher and held most of its gains into the close, but the IBD 50 lagged considerably.
Stocks ended higher Tuesday, with the Dow Jones Industrial Average and the S&P 500 turning positive for October as investors largely cheered a round of third-quarter corporate earnings. The Dow rose around 238 points, or 0.9%, to end near 27,025, according to preliminary figures, while the S&P 500 gained around 30 points, or 1%, to finish near 2,996. The Nasdaq Composite closed at 8,149, a gain of around 100 points, or 1.2%. The gains left the Dow up 0.4% for the month to date, with the S&P 500 gaining 0.6% over the same stretch. The Nasdaq Composite added to its October advance, up 1.9% so far. Shares of UnitedHealth Group Inc. led Dow and S&P 500 gainers, rising 8.2%, after topping Wall Street estimates, while shares of JPMorgan Chase & Co. , also a Dow component, advanced 3% after its results. Goldman Sachs Group Inc. , meanwhile, lagged the market, rising 0.3% after disappointing Wall Street with its third-quarter results.
The Dow Jones, S&P; 500 and Nasdaq composite were up more than 1% in afternoon trading Tuesday, as third-quarter earnings season got underway in earnest.
Yahoo Finance's Julie Hyman, Adam Shapiro, Scott Gamm, Julian Emanuel of BTIG and Robert Greifeld, Author of Market Mover: Lessons from a Decade of Change at NASDAQ discuss the current market climate.
Yahoo Finance's Julie Hyman, Adam Shapiro, Akiko Fujita, Ramsey Smith - ALEX.fyi CEO and Marc Pfeffer - CLS Investments Chief Investment Officer discuss latest market moves