|Day's Range||29,172.26 - 29,320.20|
|52 Week Range||24,307.17 - 29,373.62|
Skybridge Capital co-CIO Troy Gayeski weighs in on the markets from inside the World Economic Forum.
For many veteran traders, $12,000 is a rounding error, but for someone just getting his feet wet in the options pits, well, losing that much will leave a mark. That’s what happened this week to an anonymous trader.
U.S. stocks pushed higher Wednesday, with both the S&P500 index and Nasdaq climbing to new intraday records, after Chinese authorities provided assurance it was taking steps to contain a possible conavirus pandemic, relieving investor fears about a threat to global economic growth.
FEATURE Bouncing. The three major U.S. stock market indexes rose modestly, bouncing back despite fears about the newly identified virus spreading in China. The Dow Jones Industrial Average was up 20 points, or 0.
Investors don’t like volatility, but they have had to deal with disease-related shocks in the past. History say the impact is temporary.
The Dow Jones Industrial Average was barely positive near midday Wednesday, as the stock market pared early gains, but the Nasdaq rallied to a new high.
Deutsche Bank’s Bryan Kroft initiated coverage of AT&T with a Buy rating on Wednesday, citing an attractive outlook for its core wireless business.
Shares of General Electric Co. sank 1.2% in morning trading, putting them on track for a sixth straight loss, and 10th loss in 11 days, amid concerns over the fallout from Boeing Co. pushing out expectations for the return of its 737 MAX planes. Analyst Andrew Obin said Boeing's announcement on Tuesday "increases the likelihood" that the 737 MAX production pause is extended through the first half of 2020, which would impact GE since GE makes the 737 MAX's engines. Obin reiterated his neutral rating on GE's stock and his $12 price target. "In our 4Q19 GE preview, we highlighted 737 MAX issues as a potential risk for GE in 2020," Obin wrote in a note to clients. Both Boeing and GE are slated to report results on Jan. 29, before the opening bell. The stock has run up 27.2% over the past three months, but has lost 4.9% during its six-day losing streak, while Boeing shares have shed 9.0% and the Dow Jones Industrial Average has gained 9.0%. A 6-day losing streak for GE's stock would be the longest since the 7-day stretch of losses ended on Dec. 5.
In the wake of the recession, many homes were purchased by investors and converted into rental units, which has suppressed inventory significantly.
One analyst called out “downside risks” for Boeing suppliers, including General Electric, Honeywell International, and Parker Hannifin.
Stock prices are moving in tandem with the expansion of the Fed’s balance sheet, but got crunched as the central bank boosted rates.
If investors think cash is king in these equity markets, they ought to think again, suggests Ray Dalio.
Shares of Microsoft Corp. rose 0.2% in morning trading, after Raymond James analyst Micheal Turits raised his price target by 18%, as his research suggests the software giant had a strong quarter, led by software upgrades and growth in its cloud business. Turits reiterated his strong buy rating and lifted his target on the stock to $192, which is 15% above current levels, from $163. That makes Turits the second-most bullish on Microsoft of the 35 analysts surveyed by FactSet. "Our Microsoft checks were strong this quarter with the biggest improvement from resellers that were seeing an uptick in Office 365 E3 to E5 conversions, on increased interest in collaboration and integration of Microsoft Teams and from security including EMS, Azure Active Directory and Azure Sentinel," Turits wrote in a note to clients. "We believe channels are on plan if not hitting stretched or aggressive growth targets with Azure, with some constraint around talent needed for cloud migrations." Microsoft is scheduled to report fourth-quarter results after the Jan. 29 close. The stock has run up 22.3% over the past three months, while the Dow Jones Industrial Average has gained 9.1%.
DOW UPDATE The Dow Jones Industrial Average is climbing Wednesday morning with shares of IBM and Intel leading the way for the blue-chip average. Shares of IBM (IBM) and Intel (INTC) have contributed to the blue-chip gauge's intraday rally, as the Dow (DJIA) was most recently trading 34 points higher (0.
The Fed’s low interest rates and optimism about global economic growth after the U.S.-China phase one trade deal are the two main pillars driving the recent stock market rally.
The major stock indexes snapped back from Tuesday's mild losses with solid gains early Wednesday. Tesla surged to new highs.
Tony Dwyer, a longtime bull and strategist at brokerage Canaccord Genuity, is getting a little nervous and said it is time “to take offense temporarily off the field.”
DOW UPDATE Shares of IBM and Intel are seeing strong returns Wednesday morning, propelling the Dow Jones Industrial Average into positive territory. The Dow (DJIA) was most recently trading 108 points (0.
Wall Street is weighing in after Boeing announced another delay in bringing the 737 MAX jet back into service. Another analyst downgraded shares on Wednesday.
U.S. stocks Wednesday at the open trading solidly higher, with the main benchmarks attempting a fresh assault on all-time highs, as investors tried to shake off worries about an Asian flu outbreak. Chinese authorities assured the public it was taking steps to contain what investors had feared might become a coronavirus pandemic that could threaten economic growth in the region and possibly spill over to other parts of the globe if the virus spread. However, investors appeared to react positively to assurances from President Donald Trump on the sidelines of the World Economic Forum in Davos, Switzerland. "It's going to be just fine," the president told CNBC in an interview at the annual conference. The Dow Jones Industrial Average gained about 92 points, or 0.3%, at 29,288, the S&P 500 index gained 0.4% to 3,332, while the Nasdaq Composite Index advanced 0.5% to 9,415. The S&P 500 and the Nasdaq both touched intraday records near Wednesday's start.
Global markets rebound after virus-related fears subside. Risk is still present so traders should be cautious with equity markets trading at all-time highs.
History does not always repeat itself in the stock market, but it is always instructive. There is a mania going on in the stock market, but not in the terms you would think. Before you send me hate mail for raining on the parade, remember that The Arora Report gave a signal to buy stocks on Donald Trump’s election when many analysts were saying sell.
Billionaire investor Paul Tudor Jones is nothing short of flabbergasted by economic and monetary policy coming from Washington. It reminds me a lot of early ’99 [when inflation was low and stock markets were soaring].