|Day's Range||8,600.82 - 8,650.76|
|52 Week Range||6,190.17 - 8,705.91|
Top news and what to watch in the markets on Wednesday, December 11, 2019.
U.S. and China trade negotiators are reportedly planning to delay tariffs that are set to go into effect on December 15th, but it turns out the market may have already priced it in. Paul Schatz, Heritage Capital President, joins Yahoo Finance's Adam Shapiro, Julie Hyman and Rick Newman to discuss.
Dow futures: The stock market still seeks China trade clarity, but Apple, AMD, Google, Microsoft and Target are acting like true leaders.
Howard Marks, co-founder of Oaktree Capital Management, who has made billions investing in distressed debt, says that a 2020 election victory likely would be a major relief for Wall Street investors.
U.S. and Chinese trade negotiators are reportedly planning for a delay in tariffs due to take effect on Sunday, while Democratic lawmakers reached an agreement with the Trump administration to support a trade deal with Mexico and Canada. House Democrats also announced two articles of impeachment against President Donald Trump. The Wall Street Journal reported today that U.S. and Chinese trade negotiators are laying the groundwork to delay a fresh round of tariffs on $165 billion worth of Chinese imports set to kick in on Dec. 15.
A recent poll of likely voters shows 61% of Americans said that the market’s rally has had little or no impact on their finances.
U.S. stocks ended slightly lower for a second day on Tuesday, after erasing earlier gains, as Wall Street weighed U.S-China trade negotiations.
Wall Street's main stock indexes ended slightly lower on Tuesday, though not far from record highs, as investors awaited concrete news on whether a new round of U.S. tariffs on Chinese goods would take effect on Dec. 15, a potential turning point in a trade dispute between the world's two largest economies that has convulsed markets. Stock futures got a boost in premarket trade when the Wall Street Journal said U.S. and Chinese trade negotiators were laying the groundwork for a delay in the tariffs, but White House economic adviser Larry Kudlow said later that no decision had been made. The Dow Jones Industrial Average fell 27.88 points, or 0.1%, to 27,881.72, the S&P 500 lost 3.44 points, or 0.11%, to 3,132.52 and the Nasdaq Composite dropped 5.64 points, or 0.07%, to 8,616.18.
The dollar eased and global stock markets slipped on Tuesday as uncertainty kept risk appetite in check days ahead of the Dec. 15 deadline for a new round of U.S. tariffs on Chinese imports. Investors were again torn between remarks that suggested a positive outcome to the 17-month U.S.-Sino trade war but also indicated a deal might not come until after U.S. presidential elections in November 2020.
Stocks close lower as tariffs remain on the table U.S. stocks closed slightly lower on Tuesday as investors digested mixed messages on progress toward a partial U.S.-China trade deal before a Dec. 15 deadline for a further increase in China goods.The Dow Jones Industrial Average closed about 27 points, 0.1%, lower, near 27,883, while the S&P 500 was off about 3 points, 0.1%, closing near 3,133. The Nasdaq lost about 5 points, less than 0.1%, closing near 8,616. Shares of pet supply retailer Chewy Inc. were about 6% higher Tuesday after reporting better-than-expected earnings Monday.
Lakos-Bujas predicts the Trump administration will eventually strike a deal that leads to a partial rollback of U.S. and Chinese tariffs, and that this move, combined with faster global growth, will push the S&P 500 to 3400 by the end of 2020.
The Dow Jones Industrial Average was near their break-even points after initially gaining on a report that the U.S. and China are planning to delay implementing tariffs that are scheduled to go into effect on Sunday.
Dec. 15 tariffs are still on the table, said Larry Kudlow, head of the White House’s National Economic Council, at an event late Tuesday morning, adding context to an earlier report that those penalties could be delayed.
Technically speaking, the S&P 500 has sustained a sharp reversal from one-month lows, a rally that likely neutralizes the early-December market downdraft, writes Michael Ashbaugh.
Wall Street's indexes edged higher in choppy trading on Tuesday after a report that the United States and China were planning to delay a new round of tariffs set to kick in on Dec. 15. Officials from both sides also hinted at extending their trade talks, the Wall Street Journal reported. With the trade war continuing to take a toll on global growth, markets have been hoping for a delay in tariffs and looking for positive headlines on the talks.
A day before its third-quarter earnings report, Lululemon announced that Chief Operating Officer Stuart Haselden is departing to become the chief executive of Away.
Top White House economist Larry Kudlow said Tuesday that tariffs scheduled to hit Chinese goods on Dec. 15 are "still on the table," and that he couldn't confirm a Wall Street Journal report that negotiators were "laying the groundwork" to delay them. Speaking at the Journal's CEO Council meeting in Washington, Kudlow said there wasn't a "definitive decision" on the tariffs. Earlier Tuesday, acting White House Chief of Staff Mick Mulvaney told the same conference that prospects for a phase-one deal were "pretty good." U.S. stocks momentarily lost some ground following Kudlow's remarks but have since been trading slightly higher to little-changed in late-morning Tuesday action.
With the trade war continuing to take a toll on global growth, markets have been hoping for a possible delay in tariffs and looking for positive headlines on trade talks between the two sides. "It's probably the best the market can expect right now," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York. The Wall Street Journal also reported that officials from both sides hinted at extending trade talks.
The Dow is in the green, but didn’t start the day with a gain—Dow futures were off more than 100 points in premarket action. But that doesn’t mean much these days.
Speaker of the House Nancy Pelosi on Tuesday announced that Democrats would back the revamped U.S-Mexico-Canada trade pact negotiated by President Donald Trump. At a press conference, Pelosi said Democrats were able to wrest last-minute concessions on enforcement that make the USMCA palatable. Analysts said Pelosi will try to pass the deal before the holiday break. Pelosi said she worked closely with Richard Trumka, the president of the AFL-CIO trade union, during the final negotiations over the weekend.