|Day's Range||7,428.30 - 7,582.89|
|52 Week Range||6,517.93 - 8,133.30|
Rising bond yields are putting an end to the “there is no alternative” mantra that provided a pillar of support for stocks. But it might be too soon to underweight equities just yet, some investors argue.
At the end of a tumultuous week, few investors took note that Friday was the 31st anniversary of Black Monday—Oct, 19, 1987. The Dow popped up 548 points on Tuesday, but that amounted to less than a tenth of the percentage change of Black Monday. Black Monday’s significance, more than being the single worst day for stocks in U.S. history, is that it established what became known as “the Greenspan put.” To counter the feared economic impact of a stock-market meltdown, the Fed under then-Chairman Alan Greenspan cut interest rates, stoking a huge bond rally, which led to a recovery in equities.
The Dow Jones Industrial Average gained 104.35 points, or 0.4%, to 25444.34 last week, while the S&P 500 squeaked out a 0.65 point rise to 2767.78, and even the Nasdaq Composite finished off just 0.6%, to 7449.03.
China's economic growth has sunk to a post-global crisis low as officials launch a media blitz to reassure investors about its sagging stock market. Retail spending, factory output and investment all weakened. The National Association of Realtors says sales declined 3.4 percent last month, the biggest drop in 2 ½ years, to a seasonally adjusted annual rate of 5.15 million.
By Rodrigo Campos NEW YORK (Reuters) - Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said ...
U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued sell former favorites like retailers. Household goods makers rose again as a week of choppy trading ...
Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit ...
The U.S. benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and tensions over trade policy denting economic growth. Shares of Procter & Gamble jumped 8.8 percent after the consumer goods company reported a surprise rise in first-quarter sales. The climb in Procter & Gamble shares lifted the Dow and helped advance the S&P 500 consumer staples index 2.3 percent.
U.S. stocks close mostly lower on Friday with bulls failing to defend early gains as weak housing data overshadowed solid corporate earnings.
The benchmark S&P 500 stock index slipped on Friday as strong earnings from Procter & Gamble Co were offset by ongoing concerns about rising interest rates and geopolitical tensions denting U.S. economic ...
Stocks saw a mixed finish to a choppy session Friday, with the Dow Jones Industrial Average taking back a modest portion of the previous session's more-than-300-point decline. The tech-heavy Nasdaq Composite lagged behind, falling 0.5% to finish around 7,449, according to preliminary figures, and leaving it with a 0.6% weekly loss. The S&P 500 ended less than 0.1% lower near 2,768, leaving it virtually unchanged on the week. The Dow rose around 65 points, or 0.3%, to close near 25,444.
The U.S. benchmark S&P 500 stock index edged lower on Friday as strong earnings from Procter & Gamble Co were balanced by ongoing concerns about rising interest rates and geopolitical tensions denting U.S. economic growth. Shares of Procter & Gamble jumped 8.3 percent after the consumer goods company reported a surprise rise in first-quarter sales. Procter & Gamble was one of the top boosts to the S&P 500, and its rise helped advance the S&P 500 consumer staples index 2.3 percent.
Qualtrics International Inc., a Utah-based software company filed for an initial public offering Friday. The company did not yet provide a number of shares it expects to offer or an expected price, but said it plans to raise $200 million, which is likely a placeholder amount. The company applied ti list its Class B common shares on the Nasdaq Global Select Market under the ticker symbol "XM." Morgan Stanley and Goldman Sachs are the lead underwriters. The company said its "new category of software" enables organizations to succeed in the "experience economy." Qualtrics said it lost $3.4 million on revenue of $184.2 million during the six months ending June 30, 2018, compared with a loss of $3.71 million on revenue of $131.4 million in the same period a year ago. The company has filed to go public at a time that the Renaissance IPO ETF has tumbled 13.3% over the past three months, while the Nasdaq Composite has lost 4.6% and the Dow Jones Industrial Average has gained 1.7%.
Apple Inc. Chief Executive Tim Cook took an extraordinary step of publicly demanding the retraction of a Bloomberg News story that claimed compromised motherboards made their way into Apple servers. In an interview with Buzzfeed, Cook said "There is no truth in their story about Apple," and called for it to be retracted. Buzzfeed reported it was the first time an Apple CEO had publicly called for such a move, even though it has faced demonstrably false content previously, such as a This American Life episode on Apple's Asian manufacturing that was found to be fabricated. Bloomberg reported earlier this month, based on multiple anonymous sources including three former Apple employees, that China managed to put small chips on Super Micro Computer Inc. motherboards that made their way into servers used by more than two dozen companies, including Apple and Amazon.com Inc. Bloomberg has stood by the story despite vociferous denials from the companies named in the report, and told Buzzfeed for its story, "We stand by our story and are confident in our reporting and sources." Apple stock was up 1.5% in Friday trading, even as the Nasdaq Composite Index was down 0.2%.
U.S. stocks were slightly higher on Friday as strong earnings from major U.S. companies such as Procter & Gamble helped brush aside growth risk concerns in Europe and political tensions related to Saudi Arabia. Consumer goods bellwether Procter & Gamble reported a surprise rise in first-quarter sales, sending its shares up 7.1 percent and boosting the consumer staples index by 2 percent.
U.S. stocks rose broadly on Friday, driven by the consumer staples sector which was helped by Procter & Gamble results, brushing aside growth risk concerns in Europe and political tensions in Saudi Arabia. Consumer goods bellwether Procter & Gamble reported a surprise rise in first-quarter sales, sending its shares up 6.8 percent and boosting the consumer staples index by 1.8 percent. At 11:34 a.m. ET the Dow Jones Industrial Average was up 90.67 points, or 0.36 percent, at 25,470.12, the S&P 500 was up 12.99 points, or 0.47 percent, at 2,781.77 and the Nasdaq Composite was up 34.52 points, or 0.46 percent, at 7,519.66.
While Thursday's market declines were sizable, all but one of the indices managed to hold their respective support levels (see below). 1. All of the indices held their respective support levels with the one exception of the Dow Jones Transports (see above). 2. The S&P 500, Nasdaq Composite, Nasdaq 100 and Value Line Arithmetic Index closed on support while the S&P MidCap 400 Index tested support but closed above.
U.S. stocks rose broadly on Friday, as a raft of strong corporate earnings helped allay concerns over growth risks in Europe and political tensions in Saudi Arabia that drove a 1 percent drop a day earlier. At 9:53 a.m. EDT the Dow Jones Industrial Average was up 190.64 points, or 0.75 percent, at 25,570.09, the S&P 500 was up 22.18 points, or 0.80 percent, at 2,790.96 and the Nasdaq Composite was up 81.84 points, or 1.09 percent, at 7,566.98. U.S. stocks fell sharply on Thursday, weighed down by the European Commission's warning to Italy and U.S. Treasury Secretary Steven Mnuchin's decision to pull out of an investor conference in Saudi Arabia.
Activision Blizzard’s (ATVI) revenue rose at a four-year CAGR (compound annual growth rate) of 13% to $7.2 billion in 2017. Its net income rose at a four-year CAGR of 15% to $1.7 billion. Its Retail Channel and Other segments generated the rest of its revenue.
The market is posting a slight comeback from yesterday’s sell-off with the S&P 500 Index (SPY) up about 0.5% and the Nasdaq Composite Index (QQQ) up just over 1% in early trading. While the weakness in eBay’s stock makes sense, it now trades more than 37% below its 52-week high and trades at very attractive valuations, so I think the reward far outweighs the risk at this point and I would consider buying the stock today.
A heavy round of technical selling combined with an earnings-related pause in corporate stock buybacks is contributing to the stock market’s October selloff, say analysts at JPMorgan. But both factors appear to have largely run their course, they say, and that could mean gains ahead.