|Day's Range||7,260.13 - 7,472.58|
|52 Week Range||6,517.93 - 8,133.30|
US stocks began to recover from sharp intraday declines, but still posted losses at the end of regular trading Tuesday.
Trade tensions and midterm elections could be adding to market slide but the concern about what the Fed will do in the future is also exacerbating the problem. Yahoo Finance's Seana Smith, Adam Shapiro, Brian Sozzi and Timothy Chubb CIO of Univest Wealth Management discuss.
Markets are "within the ballpark of a tradeable low," says Chris Verrone, head of technical research at Strategas Research Partners. Verrone says he would steer clear of industrials and instead look to invest in health-care names. Apple is also a strong "leadership stock," in his view.
"I'd like to see a full on panic, which is to me a little better entry point. I think we're going to have to go down there again and shake people up a little more before we see this ultimate bottom," ...
Fears that an apparent slowdown in China’s economy will eventually ripple through the rest of the world were playing out on Tuesday, reflected in global equity market weakness.
U.S. stocks fell on Tuesday after worries about the earnings outlook added to recent selling pressure, though major indexes ended well off the day's lows as investors snapped up beaten-down shares late in the session. Shares of Caterpillar tumbled 7.6 percent after the heavy-equipment maker maintained its 2018 earnings forecast, following forecast increases in the previous two quarters. The S&P 500 energy index fell 2.7 percent, the most of any sector, as oil prices plunged after Saudi Arabia said it could supply more crude quickly if needed.
U.S. stocks on Tuesday finished in negative territory, albeit off the worst levels of the session, as worries about global economic growth and downbeat earnings outlooks from blue-chip companies sank equities following a rout in China's stock market. The Dow Jones Industrial Average closed down 125.98 points, or 0.5%, at 25,191.43, but had been down by as many as 548 points at its low of the session. The S&P 500 index lost 0.6% at 2,740.69, led by losses in energy stocks and industrials. Meanwhile, the Nasdaq Composite Index ended the day down 0.4% at 7,437.54 but enjoyed a brief stint in positive territory in a frightful and volatile day for U.S. stocks. Notably in corporate news, shares of Caterpillar Inc. closed off 7.6%, leading Dow decliners, after the industrial giant reported profits and revenue ahead of analysts expectations but offered guidance that was below consensus. Another Dow component, 3M Co.'s stock finished off 4.4% after issuing downbeat 2018 guidance. 3M and Caterpillar combined to account for nearly half the Dow's loss at Tuesday's open at one point during the session. On big bright spot, shares of McDonald's Corp jumped 6.3% for its best day in about three years after its quarterly results on Tuesday. Markets headed lower out of the gate following the Shanghai Composite Index's 2.3% loss, giving back part of a two-day rally, and reigniting fears of a slowdown in the second-largest economy which rippled through markets. Still, some investors describe Tuesday's trade action as orderly and constructive despite the negative finish for stocks.
U.S. stocks bounce off intraday lows, as major indexes trimmed early losses, but the S&P 500 still finished down 0.6%.
Traders were bargain hunting on Tuesday but if China doesn't support its market or stocks drop again it will be an ugly day on Wednesday, says Art Cashin of UBS. U.S. stocks could sell off on Wednesday if China's market falls again, veteran trader Art Cashin told CNBC.
Treasury yields declined and crude oil tumbled. The S&P 500 pared to 0.6 percent a loss that took it below 2,700 for the first time since July, while the Nasdaq Composite Index flirted with a correction before paring losses. Industrial stocks remained under pressure after disappointing results from Caterpillar and 3M added to worries that rising costs will erode profit margins.
U.S. stocks fell on Tuesday as worries about the outlook for corporate earnings dampened sentiment, though the three major indexes ended well off the day's lows as investors snapped up beaten-down shares ...
Wall Street sank on Tuesday, continuing a punishing month for U.S. stocks, as dismal outlook from industrial bellwethers Caterpillar and 3M sparked concerns over corporate growth and added to worries ranging from China's slowdown to Saudi Arabia's diplomatic isolation. The Dow Jones Industrial Average is 6.83 percent down from its all-time closing high and the Nasdaq 9 percent.
As we observed in recent quarterly letters, market returns have continued to be dominated by 4 companies from the group that CNBC's James Cramer has dubbed the FAANG stocks: during the first 9 months of 2018, Facebook, Amazon, Netflix, and Google accounted for a majority of the S&P 500's gains. More broadly, the top 10 contributors for the S&P 500, virtually all of them high-multiple technology businesses, were responsible for more than 110% of the indices' gain for the first 9 months of 2018. The S&P 500, inclusive of dividends, advanced 10.56% for the first 9 months of 2018, but this movement was driven by a dwindling number of stocks.
U.S. stocks cut their losses late on Tuesday and the Nasdaq briefly turned higher as investors bought back beaten-down shares, though worries about company earnings outlooks kept a lid on the market. Shares of Caterpillar tumbled after the heavy-duty equipment maker maintained its 2018 earnings forecast, following forecast increases in the previous two quarters.
2:33 p.m. The S&P 500 has cut its losses, perhaps signaling—as one technical analyst suggests it might—that the market has found a bottom. The S&P 500 has dropped 0.7% to 2737.93, while the Dow Jones Industrial Average has fallen 142.76 points, or 0.6%, to 25,174.65. The Nasdaq Composite has declined 0.5% to 7430.03.
Wall Street isn’t just wrangling with a wall of amorphous worries, it is facing a painful downdraft that implies further market pain ahead, says at least one analyst.
Investing.com - Wall Street opened sharply lower on Tuesday with the Dow falling triple digits as a raft of geopolitical and economic concerns soured sentiment for global equities and weak earnings reports added to risk-off sentiment.
The stock market opened with a resounding thud on Tuesday morning, as the Dow Jones Industrial Average at one point had shed more than 500 points. The S&P 500 and the Nasdaq Composite endured even harder hits, down more than 2% each. Here’s the case for things getting worse before they get better.
The Nasdaq recovered to close just 0.4 percent down. Major tech companies had accounted for nine of the top 10 stocks weighing negatively on the Nasdaq at its lowest point during the session. The Nasdaq Composite climbed out of correction territory late Tuesday, as major tech stocks recovered from an earlier rout.
11:27 a.m. There goes the S&P 500’s200-day moving average. The Nasdaq Composite has slumped 1.8% to 7337.44. The S&P 500, meanwhile, has dropped 1.6% to 2,713.04, and the drop has brought it through the 200-day moving average at 2768.