|Day's Range||25,372.26 - 25,603.27|
|52 Week Range||21,712.53 - 26,951.81|
Keshav Rajagopalan, PGIM Investments Co-Head of Exchange-Traded Funds, says that “as the market turns human investors are going to be needed to start picking stocks and bonds to weigh where the actual Alpha sources are.” Yahoo Finance’s Alexis Christoforous speaks to him.
Philadelphia Fed President Patrick Harker still sees one rate hike in 2019 "at most," despite seeing potential risks tilted "very slightly to the downside."
Although worries about global growth remain, a brutal selloff at the end of last week may have some investors looking for bargains.
Retailers led U.S. stocks broadly higher Monday as the market bounced back from an early stumble. Norfolk Southern picked up 2 percent, Regions Financial added 1.6 percent and chipmaker Nvidia dropped 2.2 percent. A sharp decline in bond yields last week also drove the selling.
If gamblers have it right, President Donald Trump won’t be calling in the moving vans early now that Special Counsel Robert Mueller’s probe into possible coordination between his campaign and Russia ahead of the 2016 election is complete.
Never mind the alarm bell sounded by one of Wall Street’s most accurate recession indicators, Scott Minerd of Guggenheim Partners says the Federal Reserve will revert to its old hawkish ways before the end of 2019.
MSCI's gauge of stocks across the globe shed 0.66 percent, as Wall Street's main indexes opened lower. Following a steep sell-off in stocks on Friday, investors were still digesting weak U.S. factory data last week that prompted an inversion of the U.S. Treasury yield curve, which is widely seen as an indicator of an economic recession.
While the Dow Jones Industrial Average and S&P 500 have swung into positive territory in choppy morning trade, broader-market breadth data indicates most stocks are losing ground. The number of declining stocks outnumbered advancers 1,444 to 1,267 on the NYSE and by 1,630 to 1,051 on the Nasdaq exchange. Meanwhile, the Dow rose 16 points, with 18 of 30 components trading higher. Meanwhile, the S&P 500 was little changed and the Nasdaq Composite shed 0.2%.
On Friday, weak factory data from the United States, Europe and Japan resulted in the main indexes posting their biggest one-day percentage declines since Jan. 3, and also led to the inversion of U.S. Treasury yield curve for the first time since 2007. Yields on U.S. 10-year treasury yields modestly rose on Monday after data showed German business morale improved unexpectedly in March, but spreads between U.S. three-month and 10-year Treasury yields moved closer again to inversion. "Markets are not overcoming concerns of the global economic climate and the fact that the 3-month treasury yields rose above that of the 10-year notes, creating an inversion," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York.
The stock market was squarely lower early Monday, extending Friday's heavy losses in morning trade. Apple stock sold off about 2%.
U.S. stocks retreat Monday morning as markets struggled to regroup after data showing weakness on the global economic front triggered heavy losses last Friday.
More news and analyst research about the troubled 737 MAX program isn’t providing anything for investors to grasp. Boeing shareholders need to think about managing idiosyncratic risk, and it may be time to trim back for some.
U.S. stocks opened lower on Monday, weighed by technology shares, as investors worried about global growth fears. The Dow Jones Industrial Average fell 11.60 points, or 0.05 percent, at the open to 25,490.72. ...
U.S. stocks started the week lower, adding on to their losses from Friday when all three major benchmarks recorded their worst one-day drop since Jan. 3. The losses come on the coattails of the inversion of the three-month and 10-year Treasury yield curve, which can be an early recession indicator, and happened for the first one since 2007 on Friday. The Dow Jones Industrial Average opened 0.1% lower at 25,474, while the S&P 500 started 0.2% weaker at 2,796. The Nasdaq Composite slipped 0.3% to 7,622 at the open. In individual stocks, Apple Inc. was in focus ahead of a "special event" on Monday that is expected to include the unveiling its streaming-media service, as well as updates to existing products.
Boeing climbed as stock trading showed narrow gains Monday. Markets awaited the Apple streaming launch. The Dow Jones industrials faced a monthly decline.
A closely watched measure of the yield curve inverted Friday, underlining worries about economic growth and rattling the stock market. But investors might be pushing the panic button a bit prematurely.
Nike’s caution about the fiscal fourth quarter isn’t shared with analysts, but shares are down in Friday trading.
American Airlines Group Inc. disclosed Monday that its expects the Federal Aviation Administration's grounding of Boeing Co.'s 737 MAX aircraft to continue to cause "significant disruption" to its customers and financial costs to the airline. The company said, however, that the financial costs of the disruption "cannot be forecasted at this time," as they will depend on a number of factors, including the period of time of the grounding and the circumstances related to the reintroduction of the aircraft. American said in a filing with the SEC that its fleet included 24 Boeing MAX 8 aircraft, with an additional 76 aircraft on order. Prior to the grounding, it had been operating on average about 90 flights a day involving the grounded aircraft, with flight cancellations announced through April 24, so far. American's stock slipped 0.1% in premarket trade. It has shed 4.8% year to date, while Boeing shares have rallied 12.3%, the NYSE Arca Airline Index has gained 4.5% and the Dow Jones Industrial Average has advanced 9.3%.
BTIG analyst Walt Piecyk wrote Monday that Apple Inc.'s upcoming launch of its streaming-media service "could trigger a sell-off in the stock." The company is scheduled to make an announcement on Monday at 1 p.m. ET, which is widely expected to concern the company's efforts in streaming video. "We believe there is little that Apple can say at its event today that will satisfy media skeptics," Piecyk wrote. He said that sell-offs have become typical following Apple events. "Most of today's criticism will probably be accurate but viewed through a short term lens," Piecyk wrote, including that it's difficult and expensive to become a formidable media player. He argued that the company shouldn't look toward a big acquisition as a way to bolster its content ambitions. Nonetheless, he boosted his price target to $220 from $189 in his Monday note, writing that the outlook for Apple's 2020 earnings looks favorable relative to the S&P 500 . Apple shares have jumped 30% in the past three months, while the Dow Jones Industrial Average has risen 17%.
Stock futures were flat to lower Monday morning. The Apple streaming service event is Monday. Don't expect the Boeing 737 Max to fly soon.
The biggest news of the morning—the Mueller report and continued Brexit chaos—appears to be the least concerning to the market.
A yield-scarce investing backdrop could prompt investors to look into more risky sectors of international bond markets.