|Day's Range||7,203.94 - 7,305.21|
|52 Week Range||6,630.67 - 8,133.30|
Stock were mixed at market open on Tuesday, while crude oil is on pace to continue its longest losing streak ever.
Companies that missed expectations during this most recent earnings period have seen their shares sink by more than the historical average, a reminder that record earnings don't change the stock market's core function — looking ahead.
Tech is dragging stocks lower as Wall Street begins the week with a sell-off. Yahoo Finance's Julie Hyman and Adam Shapiro discuss with BNY Mellon chief strategist Liz Young and ITC managing director Sean O'Rourke.
Jim Cramer, CNBC’s “Mad Money” host and a prominent fixture among market commentators on Monday said the market is enduring “a very serious correction.”
A closely followed gauge of small-capitalization stocks is a hair’s breadth of realizing a bearish pattern.
U.S. stocks rose on Tuesday as technology stocks bounced back after a steep selloff in the previous session and hopes of progress in the U.S.-China trade talks boosted industrials, even though a decline in Apple Inc curbed gains. The S&P technology index rose 0.6 percent following three days of losses, but shares of Apple edged 1.3 percent lower, entering its fourth day in the red. The trade-sensitive industrial sector rose 0.5 percent, boosted by shares of Caterpillar Inc and United Technologies Corp.
U.S. stock indexes were mostly higher in early trading Tuesday, erasing some of the losses from a steep, technology-driven sell-off a day earlier. Gains in banks and technology companies outweighed losses elsewhere in the market. Crude oil prices headed sharply lower, continuing a long downturn. Bond prices rose, sending yields lower.
And just like that, Qorvo (QRVO), supplier of RF Apple components corroborates Lumentum’s story (LITE) of supply chain cuts. December revenue guidance goes to $800-$840 million vs. consensus at $892 million. EPS goes to midpoint of $1.70 versus the street at $1.95.
U.S. stock benchmarks Tuesday fought to gain traction higher after an ugly start to the week. The Dow Jones Industrial Average rose 55 points, or 0.2%, at 25,437, the S&P 500 index rose 0.6% at 2,742, while the Nasdaq Composite Index climbed 1% at 7,275. All three benchmarks fell sharply on Monday, with the Dow plunging more than 600 points, on the back of sharp declines in shares of Apple Inc. and Goldman Sachs Group Inc. . Market players attributed Tuesday's tepid optimism to apparent progress in trade talks. The Wall Street Journal reported that Treasury Secretary Steven Mnuchin spoke with Chinese Vice Premier Liu He on Friday about a deal to ease trade tensions, ahead of a meeting between President Donald Trump and President Xi Jinping, set for the end of November at the G-20 summit in Buenos Aires. Meanwhile, shares of Home Depot Inc. were in focus after the home-improvement company and Dow component reported better-than-expected quarterly results. However, shares were down 1.4% as a call to discuss results with analysts was under way.
The S&P 500 and the Nasdaq opened higher on Tuesday, boosted by a rebound in technology stocks and hopes of progress in the U.S.-China trade talks, while losses in Boeing Co and Home Depot Inc weighed on the Dow. The S&P 500 opened higher by 3.83 points, or 0.14 percent, at 2,730.05. The Nasdaq Composite gained 29.82 points, or 0.41 percent, to 7,230.69 at the opening bell.
With the markets currently facing a lot of gyration, investing in quality stocks seems prudent. After all, these stocks provide excellent risk-adjusted returns.