|Day's Range||7,137.6338 - 7,222.9878|
|52 Week Range||5,899.4302 - 7,637.2700|
The bears woke up Friday and pushed the major indexes below their 50-day lines. Yet the Nasdaq still looks ready to march higher for a second week in a row.
Apple fell 3.8 percent and was the biggest drag on the major indexes after Morgan Stanley estimated weak demand for its latest iPhones, adding to fears raised by Taiwan Semiconductor of softer smartphone sales. Microsoft, Intel and Cisco were the other big decliners, leading to a 1.6 percent drop on the S&P technology index, its third straight day of decline. "There's the Apple news and there maybe some nervousness coming into the upcoming earnings reports," said Daniel Morgan, senior portfolio manager at Synovus Trust Co in Atlanta.
Now that President Trump has turned down the heat on a China trade war, investor concern about rising inflation and a hawkish Federal Reserve may be taking center stage.
U.S. stocks fell on Friday, as Apple led a decline in technology stocks on concerns about weak iPhone demand and investors worried about the impact of a rise in U.S. bond yields. Apple fell 3.8 percent and was the biggest drag on the major indexes after Morgan Stanley estimated weak demand for its latest iPhones, adding to fears raised by Taiwan Semiconductor of softer smartphone sales.
U.S. stocks veered broadly lower in afternoon trading Friday, extending the market's modest losses from a day earlier. Technology stocks accounted for a big slice of the slide. Consumer goods companies also posted hefty losses. Energy companies slumped along with the price of crude oil. Banks eked out small gains, rising along with bond yields.
WSJ City is the app that delivers concise, smart news on business and finance for mobile. As oil prices have soared, hedge funds and other big investors have amassed a record number of bullish bets on crude, putting the market at risk of a swift fall if the outlook sours, analysts say.
U.S. stocks edge lower on Friday, as the latest batch of corporate earnings were unable to fully offset comments from President Donald Trump about crude-oil prices that sent the commodity lower and pressured ...
U.S. stocks fell on Friday, with the S&P 500 returning to negative territory for the year as losses accelerated in midday trading. The Nasdaq Composite Index fell 1.1% on Friday, but remains up 3.7% for the year.
Want to know why the Dow Jones Industrial Average and other major indexes are doing what they're doing? The Dow Jones Industrial Average has slumped 197.94 points, or 0.8%, to 24,466.95, while the S&P 500 has slipped 0.8% to 2671.35, and the Nasdaq Composite dropped 1.1%, to 7155.53. Today's weakness began with Apple (APPL), has dropped 3.3% to $167.14 on bearish analyst reports and rumors that China might ban its products.
BlackRock’s (BLK) Larry Fink also shared his views on the bull market in his recent interview with CNBC. He believes in staying invested in the equity market.
Central bankers are back in the spotlight as well, with the Bank of England’s Mark Carney reviving his “unreliable boyfriend” routine and whacking the pound. Federal Reserve Board Gov. Lael Brainard’s latest speech also ought to be grabbing everyone’s attention, says our call of the day, which comes from the Wolf Street financial blog’s Wolf Richter.
The percentage of investors optimistic about the U.S. stock market jumped in the latest week, as early readings from the first-quarter earnings season pointed to strength in corporate America, but a myriad ...
Wells Fargo, Steve Madden, Facebook, Apple, AT&T and Time Warner are the companies to watch.