|Day's Range||10,350.96 - 10,494.63|
|52 Week Range||6,631.42 - 10,518.98|
Stock futures added to gains Wednesday evening, with tech shares continuing their relentless march higher as overnight trading kicked off.
Apple and Amazon led Wednesday's stock market rally as Fortinet, gold stocks and several others broke out. Tesla and rival Nio finally reversed.
(Bloomberg) -- Stocks across Asia were mostly higher on Thursday as investors continued to place faith in policy support and shrugged off simmering tensions between Washington and Beijing. The dollar edged up.Shares in Hong Kong, Sydney and Seoul were higher. Chinese equities opened little changed as traders watched to see if the Shanghai Composite’s recent surge could extend to an eighth day. Japan saw small losses. Futures on the S&P 500 Index were flat after the gauge climbed to a one-month high on Wednesday, when advances in high-flying megacaps like Apple Inc. and Amazon.com Inc. sent the Nasdaq Composite to a record. Gold held above $1,800 an ounce. The offshore yuan rose above 7 per dollar to the highest since mid-March, while Treasuries were steady.Chinese stocks are already up about 8% this week amid signals of support from authorities and signs of frenzied buying among retail traders. On the virus front, the number of U.S. infections topped 3 million, more than a quarter of the global total. Arizona and Florida continued to report increases, albeit at levels below their seven-day averages.As long as central banks “have the intention of continuing to try to provide stimulus to the global economy, markets will continue to drive higher even as they dislocate from the fundamentals that would otherwise normally drive earnings and stock prices,” Shana Sissel, chief investment officer at Spotlight Asset Group, said on Bloomberg TV.Elsewhere, oil traded at a four-month high despite U.S. crude inventories holding near a record and gasoline demand still at the weakest seasonal level in more than 20 years.Here are some key events coming up:All eyes will be on the U.S. weekly jobless claims report on Thursday.Singapore holds its general election on Friday.These are the main moves in markets:StocksFutures on the S&P 500 Index slid 0.1% as of 10:27 a.m. in Tokyo. The gauge rose 0.8% on Wednesday.Japan’s Topix index dipped 0.3%.Hong Kong’s Hang Seng index rose 0.9%.Shanghai Composite was little changed.South Korea’s Kospi index gained 0.6%.Australia’s S&P/ASX 200 Index rose 0.9%.CurrenciesThe yen was at 107.29 per dollar, little changed.The euro bought $1.1337, up 0.1%.The offshore yuan was at 6.9958 per dollar.BondsThe yield on 10-year Treasuries remained at about 0.66%.Australia’s 10-year yield rose three basis points to 0.90%.CommoditiesWest Texas Intermediate crude slipped 0.3% to $40.77 a barrel.Gold was at $1,809.25 an ounce, little changed.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Nvidia Corp. surpassed Intel Corp. as the largest U.S. chip maker by market cap for the first time on Wednesday. Nvidia shares closed up 3.5% at $408.64, giving it a market cap of $251.31 billion, while Intel shares finished up 0.5% at $58.61, giving it a market cap of $248.16 billion, according to FactSet data. For the year, Nvidia shares have gained 74% while Intel shares have slipped 2%, compared with a 11% gain in the PHLX Semiconductor Index , a 17% gain in the tech-heavy Nasdaq Composite Index , and a 1.9% decline in the S&P 500 index . While it is not the first time a U.S. chip maker has surpassed Intel in market cap, it is the first time for Nvidia. Back in 1999 and 2000, Texas Instruments Inc. surpassed Intel in cap a few times, and between late 2012 and mid-2014 Qualcomm Inc. and Intel often jockeyed for the No. 1 position, according to Dow Jones data.
U.S. stocks ended Wednesday higher, with the tech-heavy Nasdaq scoring an all-time record, as investors focused on stocks that can outperform amid an acceleration of coronavirus infections in about 30 American states and longer periods of working from home.
Stocks ended on a strong note Wednesday after spending much of the session hovering near unchanged, with tech shares leading the way higher. The Dow Jones Industrial Average rose around 178 points, or 0.7%, to finish near 26,068, according to preliminary figures, while the S&P 500 advanced around 25 points, or 0.8%, to end near 3,170. The tech-heavy Nasdaq Composite rose nearly 149 points, or 1.4%, finishing near 10,493.
The stock market has gotten back some of its turbulence, but the Nasdaq Composite (NASDAQINDEX: ^IXIC) has maintained its leadership role. The Nasdaq 100 Index of the biggest Nasdaq-listed stocks rose by a similar amount. The biotech industry has received a lot of attention because of the prospects for developing treatments or vaccines for the coronavirus.
Covid-19 diagnoses are rising. And though death rates are falling, that number could top prior peaks if Dr. Anthony Fauci is right in his prediction.
Global equities struggled on Wednesday, with a surge in coronavirus cases in the U.S. and other parts of the world continuing to weigh on investor appetite. European stocks were lower, while U.S. equities eked out gains.
The Dow Jones Industrial Average is up 0.2%, or 47.84 points, to 25,938.02 at a recent check, while the S&P 500 is up 0.3%, and the Nasdaq Composite is once again leading the way, with a 0.9% gain. U.S. coronavirus cases continue to rise, and investors are awaiting earning season to start next week.
The Dow Jones Industrial Average swung between small gains and small losses on today's stock market, paring its morning gains in early afternoon trading.
“You’ve got a lot of companies that are in trouble,” Marc Lasry explained, comparing what we’re seeing now to what happened in the Great Recession in 2008. “It’s a once in a lifetime, but it happened 10 years ago, also,” he added with a chuckle.
While all the major equity indices closed at or near their intraday lows Tuesday, no technical damage was registered on the charts, leaving their mix of neutral and bullish trends intact. All the major equity indices closed lower Wednesday with negative internals but with lighter trading volumes on the NYSE and Nasdaq from the previous session. While all closed at or near their intraday lows, no violations of support or trend were registered.
Wall Street closed lower on Tuesday on account of growing concerns on resurgence of the coronavirus.
U.S. stocks wobbled in and out of positive territory Wednesday morning as investors worried about the pace of the economic recovery while coronavirus cases continue to rise.
The stock market fell Tuesday, but is a sustained pullback in the offing. Tesla and EV rival Nio keeps moving early. Facebook is in focus after execs met with ad boycott organizers.
Investors should be prepared to minimize fluctuations in their portfolio. Thus, it would be prudent to pick up value stocks with a favorable Zacks Rank.
Is it time to go now? Well, it's never a bad time to protect oneself when one sits upon large profits in any market.
Global stocks rose on Wednesday as recovery hopes overcame fears that a surge in coronavirus cases would slow the U.S. economy, but many investors still sought safety on pandemic worries, driving gold prices above $1,800 an ounce for the first time since 2011. Stocks on Wall Street rose, and the Nasdaq marked a record closing high, boosted by technology shares, while demand for the dollar, a traditional safe harbor, slid even as the number of confirmed U.S. coronavirus cases surpassed 3 million. Yousef Abbasi, global market strategist at StoneX Group Inc in New York, said U.S. investors in particular are still comfortable with the idea of buying secular growth or select companies they think will thrive in a low-consumption economy.
The stock market was by no means having a good day, but it wasn’t a bad day either. Then the last hour of trading started—and it got ugly fast.
Tuesday brought an intraday reversal to the stock market. The Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped out to a solid gain by the middle of the day, but by the end of the session, the index was down almost 1%. The Nasdaq 100 saw similar declines, motivated in large part by calls from major players on Wall Street that the stock market's huge rebound from the March lows might have gotten ahead of itself.
Victoria Fernandez, Crossmark Global Investments Chief Market Strategist, joined The Final Round to give her outlook for the market and her outlook for second quarter earnings.
Seyi Bucknor, Head of North America at Newton Investment Management, joins The Final Round to highlight investor opportunities, including emerging markets.