|Day's Range||27,801.80 - 27,905.55|
|52 Week Range||21,712.53 - 28,174.97|
U.S. stocks and Treasury yields were in a holding pattern Wednesday morning ahead of the Federal Reserve’s final monetary policy decision of the year.
Top news and what to watch in the markets on Wednesday, December 11, 2019.
DOW UPDATE Shares of Boeing and Home Depot are retreating Wednesday morning, dragging the Dow Jones Industrial Average into negative territory. Shares of Boeing (BA) and Home Depot (HD) have contributed to the index's intraday decline, as the Dow (DJIA) was most recently trading 77 points lower (-0.
Understanding what is going on at Tesla’s factory in Fremont, Calif., can help investors plot the trajectory of costs as the company’s production lineup and global manufacturing footprint grow more complex.
U.S. stocks are slightly higher Wednesday as investors turn their attention to a Federal Reserve policy update later in the session while waiting for news of progress on China-U.S. trade talks
The prices Americans pay for everything from toothpaste to housing rose 0.3% in November from a month earlier, the Labor Department said. That’s slightly hotter than the 0.2% pace economists anticipated, but likely not enough to stir the Federal Reserve to cut rates further.
The blue-chip Dow Jones index came under pressure from losses in Boeing and Home Depot on Wednesday, while the S&P 500 and the Nasdaq eked out gains as investors awaited the Federal Reserve's policy statement for clues on the strength of the economy. The U.S. central bank is widely expected to keep borrowing costs steady in its latest policy announcement, due at 2:00 p.m. ET (1900 GMT).
The major stock indexes held uneven gains Wednesday, as Boeing and Home Depot stock weighed heavily on the Dow Jones Industrial Average.
DEEP DIVE (This is the first in a three-part series listing highly rated stocks that sell-side analysts expect to rise the most over the next 12 months. This article covers large-cap stocks. Part 2 covers mid-cap stocks and part 3 covers small-caps.
Apple Inc. will return to growth in fiscal 2020 and beat earnings estimates for the December quarter following a robust holiday season for AirPods Pro and iPhone 11, Evercore said Wednesday, as it raised its stock price target to $305 from $275. That puts the target in the top tier of analysts on FactSet, where just six of 36 analysts have a target of $300 or higher. Adobe estimates that AirPods were top seller on Black Friday, while Bloomberg has separated reported that AirPods Pro demand exceeded expectations, analysts led by Amit Daryanani wrote in a note to clients. Evercore rates Apple as outperform. "In addition, the iPhone 11 will outperform relatively low expectations as the lower price has been particularly well received in China," said the note. "Also, we think the uptick in carrier promotions could bolster performance in Americas." Looking ahead to next year, Evercore is expecting revenue to grow about 6% as strength in wearables and services offsets declining revenue in other product lines. Apple shares were up 0.8% Wednesday and have gained 72% in 2019, while the S&P 500 has gained 25% and the Dow Jones Industrial Average , which counts Apple as a member, has gained 20%.
Tesla and Photronics were early leaders Wednesday, while Home Depot held back the Dow Jones as markets awaited rate policy news from the Fed.
Markets are also awaiting Fed Chair Jerome Powell's outlook on the economy when he holds a news conference later in the day. "Obviously, the Fed isn't going to change rates and my sense is that they are pretty happy where they are right now," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.
U.S. stocks opened mixed on Wednesday ahead of an eagerly awaited policy update by the Federal Reserve which could deliver clues on the interest rate outlook. The S&P 500 was up 0.2% to 3,137. The Dow Jones Industrial Average shed 27 points, or 0.1%, to 27,854. The Nasdaq Composite rose 0.2% to 8,630. All three benchmarks ended Tuesday within 1% or less of their record closes set nearly two weeks ago on Nov. 27. The Fed is expected to stand pat but could point to how the interest rate path for next year may shape up. Investors saw signs of an inflation pickup on Wednesday, with consumer prices up 0.3% in November. The prospect for a delay to tariffs would also remain in focus amid comments by White House advisers Larry Kudlow and Peter Navarro who have both suggested import duties could still take place at the end of the week.
U.S. households paid more for energy, health care and rent in November, pushing the rate of consumer inflation up to the highest level in a year. The consumer price index rose 0.3% last month.
Chevron announced its capital spending plans for 2020—and also said it was taking a $10 to $11 billion asset write down, mainly related to natural gas related assets. That could move energy sector stocks in Wednesday trading.
Dow futures: The stock market still seeks China trade clarity, but Apple, AMD, Google, Microsoft and Target are acting like true leaders.
The main U.S. stock indexes were near the flat line as investors awaited a decision on interest rates from the Federal Reserve.
DEEP DIVE As we approach the end of 2019, it’s time not only for year-end lists, but end-of-decade lists. U.S. stocks have had what can only be called an excellent decade. MarketWatch will feature a number of forward-looking articles building on the past decade’s action.