|Day's Range||7,939.75 - 7,950.94|
|52 Week Range||6,190.17 - 8,339.64|
Gains in domestic stock futures Friday morning lost steam after China announced it would be imposing tariffs on additional U.S. goods as retaliation against the Trump administration’s levies due to take effect September 1.
Stocks were mixed Thursday after the yield curve between the U.S. 2-year note and 10-year bond inverted yet again. This came as investors parsed through Fed commentary suggesting a rate cut may not necessarily be the central bank’s next move. Yahoo Finance’s Myles Udland, Jen Rogers, and Rick Newman discuss.
Worries about future economic rough patches have been heating up in recent weeks, but there is a financial playbook for navigating the next recession.
The Dow was dropping after China announced new tariffs on U.S. goods, while Salesforce.com and Foot Locker were moving in opposite directions on earnings.
Cleveland Federal Reserve President Loretta Mester, a non-voter on interest-rate policy this year, remains undecided whether she will recommend a rate cut when the Fed meets in coming weeks, even though she was not in agreement with the cut the Fed panel put in place earlier this summer. Mester, in a CNBC appearance from the annual central bank conference in Jackson Hole, Wyo., said she's still assessing data but should the economy remain at its current level of health, she'll lean toward no follow-up cut. U.S. rates should be higher than those in Europe and China, she said. Still, the current trade fight remains a key risk, she said. Stock futures were dropping as Mester conducted the interivew, after China announced a set of tariffs in reaction to U.S. tariff policy. The trade spat is hitting investor sentiment, Mester said, but the consumer so far remains strong. The next job-market report will be very important, she said.
U.S. stock futures drift higher Friday ahead of highly anticipated speech from Jerome Powell at a gathering of central bankers and academics in Jackson Hole, Wyo., which could help to crystallize market expectations for further monetary policy easing in the coming weeks.
Dow futures had been trading higher ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. Then China announced that it will impose new tariffs on $75 billion worth of U.S. products, and start levying penalties on cars again.
China's finance ministry on Friday announced retaliatory tariffs on $75 billion of U.S. goods, with one slate for Sept. 1 and another for Dec. 15. China said it was responding to U.S. unilateralism and trade protectionism.
Stock futures: Fed chief Jerome Powell gives a key speech for the stock market Friday. Salesforce earnings as well as VMware deals to buy Pivotal and Carbon Black lifted software late.
A rise in Boeing Co. stock helped to support the Dow index Thursday, but the broader market slipped after a survey showing the U.S. manufacturing sector contracting for the first time in a decade, and as a recessionary signal in the bond market flashed red.
The benchmark S&P 500 ended little changed on Thursday as a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity while investors awaited Federal Reserve Chair Jerome Powell's speech on Friday for clues on the central bank's monetary policy. Data from the U.S. Labor Department showed initial claims for state unemployment benefits dropped more than expected last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.
An index of stock markets worldwide crept lower on Thursday on uncertainty over the outlook for U.S. interest rate cuts and weak U.S. manufacturing data that raised concerns about the health of the world's largest economy. U.S. manufacturing industries in July recorded their first month of contraction in almost a decade amid concerns about whether the U.S.-China trade conflict would tip the economy into a recession, a private survey showed. "Manufacturing has been pretty weak across the globe for a while now and we are starting to see that bleed into the U.S.," said Joe Mallen, chief investment officer at Helios Quantitative Research.
Stocks of cyber security companies were mixed Thursday, with a standout performance from Carbon Black, Inc. in the regular session ahead of the announcement it's being acquired by VMware Inc. . Among notable cyber security stocks, six rose while 12 fell.
U.S. stocks struggled for direction on Thursday as Boeing's rally pulled the Dow back into positive territory. Investors stayed focused on the Federal Reserve's annual symposium in Jackson Hole, Wyo., where investors are hoping Fed Chairman Jerome Powell on Friday will confirm expectations for a September rate cut. The S&P 500 was down less than 0.1% to finish near 2,923. The Dow Jones Industrial Average advanced 51 points, or 0.2%, to end around 26,254, based on preliminary numbers The Nasdaq Composite fell 0.4% to close near 7,991. Shares for Boeing climbed after an analyst said Federal Aviation Administration certification for its grounded 737 MAX plane could be a few weeks away. At the same time, investors were rattled after the IHS Markit purchasing manager's index for the U.S. manufacturing sector signaled a mild contraction in activity. Adding to the jitters, Kansas City Fed President Esther George and Philadelphia Fed President Patrick Harker both said there wasn't a strong case for further easing of monetary policy.
The benchmark S&P 500 struggled for direction on Thursday as strong results from Nordstrom Inc and a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity. Stocks initially rose at the market open as shares of Nordstrom jumped after the department store's quarterly profit beat estimates, joining Target Corp and Lowe's Cos Inc in delivering upbeat retail numbers.
Bank of America Corp.’s CEO Brian Moynihan says he doesn’t see a recession in the offing because the U.S. consumer remains healthy.
Boeing had its biggest up day in months, boosting the Dow Jones Industrial Average to a minor gain. But some techs got throttled. Keysight Technologies broke out.
The benchmark S&P 500 and the Nasdaq fell on Thursday after weak U.S. manufacturing data raised concerns about the health of the economy, with comments from Fed officials dampening hopes of future interest rate cuts. A private survey showed U.S. manufacturing activity in August contracted for the first time in almost a decade, signs that factories are suffering from a global slowdown amid an escalating U.S.-China trade war.
The stakes for Fed chief Jerome Powell's Jackson Hole speech just got higher as another centrist policymaker turned hawkish, sending the stock market lower.
Gold has been on a tear lately, despite a recent pause in gains, and the precious commodity could be poised to extend its rally above $1,500 an ounce, on the back of ballooning global debt and monetary policy that has resulted in trillions in negative-yielding securities.
The three main U.S. stock indexes were mixed after data showed American manufacturing contracted in August, and the yield curve inverted for the third time this week.