|Day's Range||7,752.92 - 7,799.88|
|52 Week Range||6,190.17 - 8,176.08|
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Global equity markets rose on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions imposed on China's Huawei Technologies, while the dollar rose on a flight to quality. Major European stock markets rose and Chinese indices gained more than 1 percent after the Commerce Department late on Monday allowed Huawei to buy U.S. goods until Aug. 19 to maintain existing telecoms networks and provide software updates to its smartphones.
Stocks head cautiously higher Tuesday morning following a temporary reprieve on restrictions on U.S. exports to China telecom giant Huawei Technologies, reflecting a slight reduction in one front of the Sino-American tariff war.
NEW YORK (AP) — U.S. stocks rallied in morning trading on Wall Street Tuesday after the U.S. government temporarily eased off its proposed restrictions on technology sales to Chinese companies.
U.S. stock indexes rose in a broad-based rally on Tuesday, as Washington's decision to temporarily ease curbs on China's Huawei Technologies allayed concerns over a further escalation in trade war between the two countries. The Philadelphia Semiconductor Index gained 1.61% and was on track to end a three-day slump. Companies that have been supplying to Huawei including Intel Corp, Qualcomm Inc , Xilinx Inc and Broadcom Inc rose between 1% and 2%.
U.S. stocks opened higher on Tuesday, with the Dow rising more than 100 points, as technology stocks rebounded after Washington temporarily eased trade restrictions imposed last week on China's Huawei. ...
Stocks opened higher Tuesday, getting a lift after the Commerce Department said it would grant temporary exemptions to an export blacklist against Chinese telecom firm Huawei. The S&P 500 rose 15.36 points, or 0.5%, to 2,855.59, while the Dow Jones Industrial Average advanced 135.93 points, or 0.5%, to 25,815.83. The Nasdaq Composite was up 72.01 points at 7,774.38, up 0.9%.
The S&P 500 hit a new high just three weeks ago, confirming that it’s still in a bull market. If only we could say the same thing about the Dow and other indexes.
Like President Donald Trump’s previous decisions on tariffs, the market may be assuming that an announcement on Huawei opens a window for negotiations.
Investors cheered a temporary delay in the ban on sales of goods and services to Huawei Technologies, which had been seen as making trade tensions worse.
The five FAANG stocks drive the entire stock market (Facebook, Apple, Amazon.com, Netflix, [Alphabet] Google). Investors have become obsessed with “unicorns”--privately held technology firms that are valued at more than $1 billion. Some openly ask the question: Has the New Era returned?
Shares of Home Depot on Tuesday traded slightly higher in premarket trade after the home-improvement retailer reporter fiscal first-quarter earnings that were better than expected in profit and revenue. Net income for the quarter were $2.5 billion, or $2.27 a share, from $2.4 billion, or $2.08 a diluted share, in the same period a year ago. The FactSet consensus for earnings per share was $2.18. Revenue rose 5.7% to $26.381 billion, slightly above FactSet consensus for revenue of $26.378 billion, as U.S. same-store sales rose 3%, compared with expectations for a rise of 4.2%. The company reaffirmed its earnings outlook for fiscal 2019, with sales expected to grow 3.3% and sales comparable to a 52-week period to be up 5% (Last year was a 53-week calendar period, the company said). The retailer is slated to have a call to discuss results at 9 a.m. Eastern Time. Shares of Home Depot were up 0.3% premarket on Tuesday. The company's shares have gained 11.1% so far in 2019, compared with a gain of 10.1% for the Dow Jones Industrial Average , where it is a component, over the same period. The S&P 500 index has climbed 13.3% in the year to date.
Asian shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China's Huawei, although fears of a further escalation in tensions kept investors on edge. Financial spread-betters expect London's FTSE Frankfurt's DAX and Paris's CAC to gain between 0.3% and 0.5% when they open. China's blue-chip CSI300 index jumped 1.4%, a day after it fell to a three-month intraday low as Washington allowed Huawei Technologies Co Ltd to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until Aug. 19.
BEIJING (AP) — Asian stocks were mixed Tuesday after anxiety over U.S. restrictions on sales to Chinese tech giant Huawei pulled Wall Street lower.
Tech was one of the hardest-hit sectors Monday. The Dow Jones Industrial Average fell 0.33% to close at 25,679.90. The S&P 500 tumbled 0.67% to end at 2840.23, and the Nasdaq Composite dove 1.46% to close at 7702.38.
These four stock market leaders beat big declines in the tech sector. Health care and telecom stocks helped cut the Dow Jones Industrial Average decline.
Neither side seems to be willing to move on trade tensions but what does it mean for future market movement? Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi and Sylvia Jablonki Direxion Managing Director discuss.