|Day's Range||7,778.12 - 7,864.42|
|52 Week Range||6,190.17 - 8,176.08|
U.S. stocks ticked up Monday as investors awaited monetary policy decisions from several major central banks later this week.
MSCI's gauge of stocks across the globe gained 0.08%, as Wall Street's main indexes climbed in initial trading. The U.S. Federal Reserve is set to give its policy statement on Wednesday with expectations running high the central bank is poised to cut interest rates this year. The European Central Bank is also holding a forum in Portugal this week, with the Bank of Japan also set to hold its policy meeting later in the week.
Clamoring for a rate cut by the Federal Reserve at some point this year is running high, but the Fed may not comply.
The first cut is the deepest. Clamoring for a rate cut—the first in more than a decade—by the Federal Reserve at some point this year is running hot. A survey by the Wall Street Journal earlier in the week signaled that nearly 40% of economists (paywall) polled by the publication expect the U.S. central bank to ease monetary policy next month.
The Fed's policy-setting committee is due to release its statement at 2 p.m. EDT (1800 GMT) on Wednesday, with Fed Chair Powell holding a press conference shortly after. The Nasdaq Composite index rose, boosted by 1% to 3% gains in shares of marquee companies such Facebook Inc, Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc. The Nasdaq was up 56.00 points, or 0.72%, at 7,852.66.
U.S. stocks ticked higher on Monday, with the tech-heavy Nasdaq powering ahead, as investors awaited a pivotal Federal Reserve meeting for clues on the path ahead for interest rates. The Nasdaq Composite index rose, boosted by 1% to 3% gains in shares of marquee companies such Facebook Inc, Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc.
U.S. stocks head higher Monday morning, led by gains in shares of Facebook and Netflix, amid a broad advance in tech-related shares and the communication services sector.
The Federal Reserve is widely expected to strike a dovish chord when it meets this week, clearing the way for a July rate cut — the first in more than a decade — that almost 40% of economists in a WSJ poll are expecting. While a hawkish Fed no longer looms over this aging bull market, Nouriel Roubini, now says the world “has an even bigger problem on its hands.”
Vote Trump — or you’ll never see your precious bull market alive again. That’s basically the warning the president fired off over the weekend to his 61 million Twitter followers.
While a hawkish Fed no longer looms large over this aging bull market, Nouriel Roubini, perhaps the media’s favorite permabear, now says the world “has an even bigger problem on its hands.”
U.S. stocks struggled for direction on Monday after the opening bell as investors hoped to glean clues from the Federal Reserve later this week on the likelihood of rate cuts this year. The S&P 500 was up less than 0.1% to 2,888. The Dow Jones Industrial Average was down 9 points to 26,081. The Nasdaq Composite rose 0.3% to 7,821. The U.S. central bank is under pressure to issue dovish language at the upcoming policy update on Wednesday, with a minority of analysts expecting a rate cut as soon as this week. Dealing a sharp blow to economic sentiment, a plunge in the Empire State manufacturing survey in June to -8.6, from a reading of 17.8 in May, underlined the concerns around slowing growth momentum in the U.S. In company news, shares of Array BioPharma Inc. surged 59% after the biopharmaceutical company agreed to be bought by Pfizer Inc.
Stocks were poised to start the week slightly higher as investors zoom in on meetings at the Federal Reserve and other central banks this week.
Wilbur Ross said that President Donald Trump is “perfectly happy” to slap tariffs on China, yet stocks are little changed. Maybe the Fed has something to do with that?
The gauge touched its lowest point since the 2007-08 financial crisis. Morgan Stanley’s report comes as stocks in June have mostly drifted higher in turbulent trading, with the Nasdaq Composite Index (COMP)entering correction territory on June 3, but gaining 6.3% since that point as of Friday morning trade, according to FactSet data. Swirling anxiety around the U.S.’s trade relationship with China and other major international counterparts has hurt the confidence of business leaders because the unresolved tariff battles have made it difficult for corporate chieftains to develop business strategies and forced many companies to alter their supply chains.
THE TRADER Bad news poured down this past week, yet the market kept on dancing in the rain. There was bad geopolitical news as the U.S. blamed Iran for attacking two tankers carrying petroleum products.
Investors are sitting tight as events in the next two weeks could move the market. The Federal Reserve is meeting next week amid expectations of an interest rate cut.
Fed Chairman Jerome Powell will face a tough challenge in the June 19 policysetting meeting: promising nothing but reassuring markets that the Fed stands ready to support the economy.
U.S. stocks ended lower on Friday as investors were cautious going into next week's Federal Reserve meeting, while a warning from Broadcom of a broad weakening in global demand weighed on chipmakers and added to U.S.-China trade worries. Other chip companies, which both source product and sell heavily in China, dropped sharply.
Key indexes closed slightly lower in the stock market today as Broadcom and other chips weighed. But the Dow Jones and S&P 500 held key support.
President Donald Trump aimed his latest criticism at the Federal Reserve on Friday, ahead of the central bank policy makers’ meeting next Tuesday and Wednesday, and said he predicted an eventual trade deal with China.
Stocks mostly closed lower on Friday, leaving weekly gains still intact, after shares of computer chip makers came under pressure due to US-China trade tensions. The S&P 500 fell 0.2% to end around 2,887. The Dow Jones Industrial Average shed 17 points, or less than 0.1%, to finish near 26,090. The Nasdaq Composite slipped 0.5% to end around 7,797. For the week, S&P was up 0.5%, the Dow was up 0.4% and the Nasdaq was up 0.7%. Broadcom Inc. shares led the slump in tech stocks on Friday after the semiconductor manufacturer lowered its guidance for the rest of the year on late Thursday. Broadcom's stock tumbled 5.4%. Still, key equity benchmarks were propped up by expectations for the Federal Reserve to signal its plans to cut rates in the near-future at next week's meeting. In other company news, Chewy Inc. shares rose 63% after its debut IPO in the New York Stock Exchange. The pet care company's stock ended at around $36 a share.
All major stock indexes close lower Friday after the Dow failed to defend a late comeback as tech shares came under pressure following lower guidance by chip giant Broadcom Inc. which cited the effects of the U.S.-China trade fight.
Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.
Prominent bond investor Jeffrey Gundlach, the CEO of $130 billion DoubleLine Capital, sees the increasing likelihood of a recession within the next six to twelve months. Yahoo Finance's Julia La Roche, Jen Rogers and Myles Udland discuss Gundlach's latest call.