|Day's Range||1,537.30 - 1,551.65|
|52 Week Range||1,266.92 - 1,742.09|
The Dow Jones Industrial Average, bolstered by the Fed’s return to its easy-money mind-set, is on pace for its best June since 1938. And, the S&P 500, as of Friday’s intraday high, was up 7.7%, putting the broad-market gauge on track to be the sixth best June ever. What could possibly go wrong?
The prospect of lower interest rates in Europe and the U.S. has driven the stock market into a bullish stampede. The S&P 500 Index (SPX) broke out to a new all-time high — and did it strongly, blasting through the old highs at 2,940-2,950 points. The Nasdaq Composite Index (COMP) as well as the Invesco QQQ Trust exchange traded fund (QQQ) are a bit further behind, although not much.
A pullback followed by another rally is likely, but we have uncertainties ahead: the quarter's end, the rebalancing of the Russell 2000, Iran, and the G-20 meeting with talks between President Donald Trump ...
On May 6, CME Group launched a suite of products aimed at providing smaller, active investors and traders greater access to their heavily traded index futures products. The Micro E-mini index futures, which are 1/10 the tick size and margin requirements of the mini contracts, were an immediate hit trading well over 11 million contracts in the first month. The reason for the less robust volume in the small-cap Russell can be explained by looking at the performance of the indices over the prior four months.
The Nasdaq is up more than 20% in 2019. But trade wars and interest rates remain huge factors that loom large in the stock market forecast for the next 6 months.
The stock market was mixed Friday afternoon, with small cap stocks down more than most. The Russell 2000 was off 0.9% and trying to hold above its 50-day moving average. Small caps have been laggards for months, with the Russell now 11% below its prior high.
The minor gain in the Dow Jones Industrial Average , and the declines in the Arms Indexes, belie the clearly negative breadth in the overall stock market. The Dow was up 14 points, with 14 of its 30 components gaining ground. Meanwhile, the number of declining stocks outnumbered advancers 1,714 to 903 on the NYSE and 1,884 to 763 on the Nasdaq exchange. The S&P 500 fell 0.1%, the Nasdaq Composite shed 0.3% and the Russell 2000 dropped 0.9%. The volume in declining stocks represented 62.1% of total volume on the Big Board and 58.6% of total volume on the Nasdaq. The Arms Index, a volume-weighted breadth indicator that tends to rise above 1.000 when stocks fall, slipped to 0.900 on the NYSE and fell to 0.595 on the Nasdaq.
Recent stock breakouts on U.S. exchanges were faring well, and more breakouts were added Thursday morning.
(Bloomberg) -- U.S. stocks surged to an all-time high as global central banks signaled a rising willingness to stimulate growth, sending bond yields tumbling to multiyear lows.The S&P 500 jumped 1% at 9:31 a.m. in New York, surpassing its all-time closing high of 2,945.83 set April 30. The Dow Jones Industrial Average rallied 245 points, withing striking distance of its first record since October. Stocks had plunged 6.6% in May as President Donald Trump pressed his trade war with China and the bond market rallied, signaling a potential slowdown in the economy.The Federal Reserve’s dovish turn Wednesday sparked a late-day rally in risk assets, as investors consensus grew that the central bank is ready to cut as soon as July if economic data flags. Overnight, the Bank of Japan and Bank of England both indicated they stand ready to add to stimulus. The reaction in global bond markets was fierce, with German bund yields sliding deeper into negative territory and the rate on two-year and 10-year Treasuries touching multiyear lows.“What’s the alternative with rates in the market this low?” said Donald Selkin, chief market strategist at Newbridge Securities Corp. “What’s the point of keeping up inflation? I’m surprised of the extent of this but that has to be the rationale. It’s not a perception of a better economy or better profits.”The swiftness of the rebound in equities has been remarkable -- the S&P 500 took just 13 sessions to wipe out May’s pain, the fastest bounce back from a 5% sell-off in five years. Measures of relative strength signaled the index was oversold as recently as June 3. Those are now flashing warnings that the buying is about to go too far too quickly.Defensive shares have paced the June rally, with real-estate and consumer-staple producers leading. Through Wednesday, the only other sectors higher since April are utilities and health-care. The groups pay relatively high dividends, making them attractive to investors seeking consistent payouts now that sovereign bond yields have plunged around the world.“You can continue to see the markets overall melt higher due in part to unusual accommodations from the Federal Reserve,” said Chad Morganlander, a money manager at Washington Crossing Advisors. “It’s all been ebbing and flowing based on how quickly the Fed and ECB have done an about-face.”It’s not all rosy for American stocks. Small caps in the Russell 2000 Index remain more than 10% from their all-time highs set last year, while the Dow Jones Transportation Average is more than 9% from its record. Both indexes are full of stocks considered more sensitive to economic cycles than their large-cap peers.To contact the reporters on this story: Vildana Hajric in New York at email@example.com;Sarah Ponczek in New York at firstname.lastname@example.orgTo contact the editor responsible for this story: Jeremy Herron at email@example.comFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
While nearly all who ponder the trajectory and impact of such controversial subjects as monetary policy have anticipated this Wednesday afternoon's dog-and-pony show for quite some time, there are those who clearly have taken a leap of faith ahead of the jugglers and the plate spinners. While I am unsure of just how dovish leadership at the Federal Open Market Committee (FOMC) reveals itself to be later on, trading volumes for securities listed on the New York Stock Exchange (NYSE) and Nasdaq soared on Tuesday as the S&P 500 (SPX) moved sharply north from the 50-day simple moving average (SMA) that had acted as support for more than a week. Possibly significant would be the fact that this line had been a difficult hurdle for the Nasdaq Composite (COMP) to overcome.
Facebook, Beyond Meat and Cisco were early risers Tuesday, as stocks bolted higher and the Dow Jones Industrial Average added to its strong June advance.
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.
All of the major equity indices closed higher Thursday with positive breadth and up/down volume. The Russell 2000 and Value Line Arithmetic Index closed above their short-term resistance levels turning their short-term trends positive.
On Wednesday, New York-based KraneShares introduced the KFA Small Cap Quality Dividend Index ETF (NYSE:KCSD) and the KFA Large Cap Quality Dividend Index ETF (NYSE:KLCD). The large-cap KLCD tracks the Russell 1000 Dividend Select Equal Weight Index. KLCD and KCSD are the first domestic equity ETFs from KraneShares.
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Major indexes remained underwater Wednesday heading into the last hour of trade as big-cap tech stocks and oil weighed on the Dow Jones industrials.
The Dow Jones Industrial Average and the S&P 500 kept losses small. The Nasdaq 100 fell 0.5% amid big declines in chip and data storage stocks.
Wall Street seems a bit out of breath after its fast climb over the last week. On the other hand, the market is near the top of its recent range between roughly 2750 and 2950 for the S&P 500 Index (SPX), so new buying interest could be hard to find, and a bit of profit-taking appears to be creeping in. One possible economic warning sign emerged early this week as crude prices dipped again following a recent rebound.
Over the past 90 days, the small-cap Russell 2000 Index is lower by 1.70 percent while the large-cap Russell 1000 Index is higher by 3.70 percent. Historical data confirm that after significant volatility spikes, small-caps outperformed their larger counterparts. RWSL tracks the Russell 2000/Russell 1000 150/50 Net Spread Index, which essentially takes a 150 percent long position in the Russell 2000 and a 50 percent short position in the Russell 1000 to deliver 100 percent net long exposure to investors.
OncoCyte Corporation (NYSE: OCX ) is set to join the Russell 2000, Russell 3000 and Russell Microcap Indexes July 1. The Russell 3000 Index is a capitalization-weighted stock market index maintained by ...
A new survey published by FTSE Russell, one of the largest providers of indexes for use by issuers of exchange traded funds, indicates adoption of smart beta ETFs, those funds using weighting schemes beyond ...
With the exception of a two-month period in January and February, the Russell 2000 index has been declining steadily versus the S&P 500.
FT subscribers can click here to receive Market Forces every day by email. Equity markets are pushing towards a test of their April and early-May peaks. Optimism about a US and China trade deal has faded, with risk assets leaning heavily on the bond market's call for central bank easing in the coming months.
Flows from equities have been gain momentum in past months. Yahoo Finance's Julie Hyman, Adam Shapiro, Scot Gamm and Kevin McDevitt of Morningstar Sr. Fund Flows Analyst discuss.