|Day's Range||7,911.67 - 8,005.21|
|52 Week Range||6,190.17 - 8,176.08|
The FOMC delivers its interest-rate decision, and tech giant Oracle reports earnings. Here's what to know in markets Wednesday.
The Fed could drop the word "patient" in its policy meeting concluding June 19, setting the scene for future rate cuts amid uncertainty over trade and weaker economic data.
Stock futures: All eyes turn to the Fed meeting after the stock market rallied on a dovish ECB and China trade news. Two IBD 50 stocks cleared buy points. Adobe earnings beat late.
U.S. stock benchmarks on Tuesday were enjoying a nearly unfettered run-up toward records on the back of hope that central banks will ease monetary policy.
Clamoring for a rate cut by the Federal Reserve at some point this year is running high, but the Fed may not comply.
The S&P 500 index stands less than 1% shy of a record but investors aren’t loving the climb, based on a recent fund manager survey from Bank of America Merrill Lynch.
President Donald Trump and President Xi Jinping of China will meet at the G-20 next week, boosting hopes a trade deal can be nailed down eventually. Investors were also awaiting the Fed’s interest-rate decision on Wednesday for signs the central bank could cut rates this year.
President Donald Trump, asked by reporters Tuesday if he still wants to demote Federal Reserve Chairman Jerome Powell, replied: "Let's see what he does." Trump said he was not getting a "level playing field" with other countries, noting that the European Central Bank has a "much different stance" than the Fed. The questions were prompted by a Bloomberg News report that the White House counsel explored the legality of stripping Powell of his chairmanship and leaving him on the board as a governor.
Wall Street surged on Tuesday and the S&P 500 approached a record high after Washington rekindled trade talks with Beijing, boosting sentiment along with growing investor confidence that the Fed will cut interest rates this year. U.S. President Donald Trump said he would meet with Chinese President Xi Jinping at the G20 summit later this month, and said talks between the two countries would restart after a recent lull.
The Dow and S&P 500 on Tuesday finish at their highest levels in about six weeks ahead of a key Federal Reserve decision, as President Donald Trump tweeted that he had a productive conversation with Chinese counterpart Xi Jinping.
The stock market rallied more than 1% Tuesday on new hopes of progress on the trade war with China and stimulus moves in Europe. Indexes cleared a brief area of resistance.
U.S. stocks ended higher on Tuesday, after President Trump touted a positive phone call with his Chinese counterpart Xi Jinping about next week's trade meeting at the G-20 summit in Japan. The Dow Jones Industrial Average rose 355 points, or 1.4%, to end around 26,466. The S&P 500 index was up almost 1% to finish near 2,918, while Nasdaq Composite Index climbed 1.4% to 7,954. The S&P 500 ended the day close to 1% away from its all-time closing record. Trump said on Twitter that he will hold an "extended meeting" with President Xi at the G-20, with markets hoping that they can hash out a deal to avert further tariffs on Chinese imports. ECB President Mario Draghi also said on Tuesday that the euro-area central bank would keep its options open about cutting rates in the coming weeks.
(Bloomberg) -- U.S. stocks approached all-time highs on optimism that President Donald Trump will de-escalate his trade war with China, adding to gains sparked by the ECB’s signal it is ready to cut interest rates if warranted. Treasuries and oil rallied.The S&P 500 trimmed a rally that topped 1.4% at its height as markets digested news that the Trump administration explored demoting Federal Reserve Chairman Jerome Powell in February. Stocks had jumped within 1% of its all-time high after Trump tweeted earlier that he will meet with Chinese President Xi Jinping at the Group of 20 summit next week. Trade tensions have weighed on stocks since Trump escalated his trade war in early May.“Up until now, the markets have been quite skeptical that a Trump, Xi meeting would happen,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. “This pivot to an attempt to get a deal done is certainly a lot of what’s driving the market.”European Central Bank President Mario Draghi said that officials are ready with stimulus if needed, adding to expectations for easier monetary policies. Central banks in Australia, Russia, India and Chile have recently loosened policy. The Reserve Bank of Australia said Tuesday that further easing is more likely than not.The Fed is widely expected to strike a more dovish tone with its decision at the end of it’s two-day meeting Wednesday. The yield on the benchmark 10-year Treasury approached 2% before the notes pared gains. German 10-year yields tumbled further below zero. Oil surged to its biggest gain in five months as OPEC and its allies moved closer to a meeting to extend supply cuts while the Draghi’s comments raised hopes for increased demand.Elsewhere, the yen briefly weakened after a magnitude 6.8 earthquake struck off the northwest coast of Japan, triggering a tsunami advisory. Bitcoin dropped after a four-day surge.Here are some key events coming up:The Fed, Bank of Japan and Bank of England all set monetary policy, along with central banks in Norway, Brazil, Taiwan and Indonesia.The Fed’s two-day meeting ends Wednesday with a decision and press conference. Officials are expected to debate a rate cut to shelter the U.S. economy, in part, from the fallout caused by escalating trade disputes.Final May CPI data for Britain are due on Wednesday. U.K. retail sales are set for release on Thursday. These are the main moves in markets: StocksThe S&P 500 Index rose 1% as of 4:02 p.m. New York time, while the Nasdaq Composite Index gained 1.4% and the Dow Jones Industrial Average increased 1.4%.The Stoxx Europe 600 jumped 1.7%, the biggest increase since January.The MSCI Emerging Market Index rose 1.5%.The MSCI Asia Pacific Index gained 0.6%, the first increase in five trading sessions. CurrenciesThe Bloomberg Dollar Spot Index fell less than 0.1%, the first drop in three days.The euro eased 0.2% to $1.1196, while the yen strengthened 0.1% to 108.42 per dollar.The British pound rose 0.2% to $1.2560.The MSCI Emerging Markets Currency Index rose 0.5%, the first increase in five trading sessions.BondsThe yield on 10-year Treasuries dropped 4 basis points to 2.06%.Germany’s 10-year yield fell 8 basis points to negative 0.32%. CommoditiesWest Texas Intermediate surged 4.1% to $54.08 a barrel.Gold rose 0.5% to $1,346 an ounce, the first increase in three days.The Bloomberg Commodity Index rose 0.6%.To contact the reporters on this story: Sarah Ponczek in New York at email@example.com;Vildana Hajric in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Jeremy Herron at email@example.com, Dave LiedtkaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Perhaps the most optimistic indicator, currently suggesting a low-risk/high-reward stock market, is that most investors are behaving as though they expect troubled times, says Jim Paulsen of The Leuthold Group.
Gold prices climb on Tuesday to settle at their highest in 14 months, buoyed by expectations of interest-rate cuts among global central banks.
The Dow Jones Industrial Average continues to show bullish action. The Nasdaq composite outperformed and easily took back its 50-day moving average.
Global stocks rallied on Tuesday and benchmark government bond yields tumbled after European Central Bank President Mario Draghi hinted at economic stimulus, while equities got an extra boost when U.S. President Donald Trump confirmed a meeting with China's president amid the countries' trade dispute. The euro also slid after Draghi said the region's central bank will ease policy again if inflation fails to accelerate, signaling one of the biggest policy reversals of his eight-year tenure.
Wall Street's main indexes rallied on Tuesday, with the S&P 500 inching close to record levels, as President Donald Trump's comments on restarting trade talks with China added to optimism of a more accommodative Federal Reserve. Trump said he would meet with Chinese President Xi Jinping at the G20 summit later this month, and that talks between the two countries would restart after a long lull.
DEEP DIVE Semiconductor stocks led a broad U.S. rally on Tuesday, as investors cheered both the latest comments about economic stimulus from European Central Bank President Mario Draghi and President Donald Trump’s tweet about his talks with China’s leader, and as the Federal Open Market Committee began its two-day policy meeting.
U.S. stocks rallied on Tuesday, with the S&P 500 inching close to record levels, as President Donald Trump's comments on restarting trade talks with China added to optimism of a more accommodative Federal Reserve. Trump said he would meet with Chinese President Xi Jinping at the G20 summit later this month, and that talks between the two countries would restart after a long lull. Trade-sensitive industrials jumped 1.92% on the development, while technology stocks gained 2.08%, the biggest boost to the benchmark index.
Investors were cheered that President Donald Trump and President Xi Jinping of China will meet at the G-20 next week in Japan, raising hopes for a truce on tariffs.
Schwab Chief Investment Strategist Liz Ann Sonders says you can see some “micro bubbles” in some areas, but it’s not systemic, while New Market Wealth Management CEO Daryl Deke says diversifying is the best way to ride out market volatility. They spoke with Yahoo Finance’s Alexis Christoforous and Brian Sozzi