|Day's Range||29,289.91 - 29,373.62|
|52 Week Range||24,244.31 - 29,373.62|
The Dow is higher today, capping off another record-setting week. Girard CIO Tim Chubb joins the On The Move panel to discuss what this means for the markets in 2020.
A former Trump administration official says markets would prefer Joe Biden over more left wing Democrats who are running for president but that analysts and investors are overreacting.
The New York Democrat tweeted her thoughts on “inequality in a nutshell,” in a response to NBC’s coverage of a fresh high for the Dow Jones Industrial Average on Friday.
“When pigs squeal, feed them.” Brad Lamensdorf, portfolio manager for AdvisorShares Ranger Equity Bear ETF, used that expression to describe what he sees in his “Chart of the Week,” which, he says, should have investors hearing alarm bells.
Almost exactly two years ago, investing legend Ray Dalio turned heads with one of the worst short-term market calls in recent memory. Kevin Muir says a similar scenario could be on the way.
The U.S. stock market has enjoyed a nearly uninterrupted assault on records, highlighted by the Dow Jones Industrial Average (DJIA) closing at a milestone above 29,000 for the first time and the S&P 500 (SPX) achieving its own landmark close above the psychological round-number at 3,300, while investors in the Nasdaq Composite Index (COMP) may have their sights trained on 10,000.
U.S. stock and bond markets will be closed on Monday in observance of the Martin Luther King Jr. holiday, coming as Wall Street absorbs a record-setting rally for equities.
The bond market has been the stock market’s best friend in its run toward Dow 30,000. Low bond yields have induced corporations to borrow. The outpouring of bond supply has been fed by investor demand.
Long-dated U.S. Treasury yields edge higher Friday morning after the U.S. Treasury Department announced plans, as had been expected, to issue a 20-year nominal coupon bond in the first half of 2020 to finance a ballooning federal deficit.
Since September, the central bank, through the Federal Reserve Bank of New York, has been purchasing securities hand over fist to alleviate short-term pressures in the overnight money markets. Powell and the Fed have repeatedly denied this is a new phase of “quantitative easing (QE),” three rounds of which added $3.6 trillion to the Fed’s balance sheet in the years after the financial crisis.
U.S. stocks rose Friday, adding to record prices set on Thursday. Investors were encouraged by strong housing market data in December, as well as China’s better-than-expected industrial production.
Credit Suisse analyst Robert Moskow increased the price target for Beyond Meat stock to $125 from $115, but maintained a Hold rating. Beyond Meat’s execution in expanding production capacity has been solid, but concerns remain.
U.S. stocks closed higher again Friday, ending the week at new record highs, helped by more data suggesting the economy and corporate profits are in good health, following at least a partial resolution of the U.S. - China trade dispute and the passage of the U.S., Mexico, Canada trade deal by Congress.
If the German car giant can’t beat Elon Musk’s electric-vehicle pioneer, maybe it should join them instead. Tesla is already closing in on Volkswagen’s market capitalization.
The stock market extended gains in the final half-hour of trading Friday, capping another week of record highs for the major indexes. The Dow Jones Industrial Average had its best week since August.
U.S. stocks closed at all-time highs Friday, marking the third-straight record close for the Dow and S&P 500, as investors cheered bullish economic data and continued to ride a wave of trade optimism. The Dow Jones Industrial Average rose 50 points, or 0.2%, to about 29,348, the S&P 500 index gained roughly 13 points, or 0.4% to close at 3,330 and the Nasdaq Composite index advanced 32 points, or 0.2% to end the session at roughly 9,389. All three benchmarks set new intraday and closing highs. Market sentiment was boosted by stellar figures on U.S. home construction, with the Commerce Department reporting that home builders broke new ground on new homes at an annual rate of 1.61 million in Decmeber, 17% higher than the month before, and well above consensus expectations. Meanwhile data out of China showed December GDP growth at the fastest pace since last March. Though some analysts expressed concern about rising stock-market valuations, with the price-to-earnings ratio reaching 18.8, according to data from Refinitiv, others noted that low bond yields justify higher prices. In company news, Qualcomm Inc. shares gained 4.6% after Citi upgraded the stock to buy from neutral to lead S&P 500 stocks higher.
It’s nearly kickoff time for this year’s presidential caucuses and primaries. Here is MarketWatch’s calendar of those nominating contests, as well as other significant dates including debates and the party’s conventions.
The Dow Jones, up more than 500 points this week, hit another new high Friday along with the S&P; 500 and Nasdaq. Qualcomm surged in the Nasdaq 100.
Make no mistake, this market move is not normal, and is not something which should be able to continue technically into and through February without a major hiccup, according to technical analyst Mark Newton
The Dow Jones industrials tried to stay positive in early afternoon trade, as Boeing turned sharply lower amid a price target cut.
Fastenal warned of weakness into the first half of 2020. Investors should pay attention to the industrial distributors results. They know industrial markets have been weak, but were waiting for a pickup in activity in the new year.
Apple Inc. could start to see a contraction in smartphone replacement cycles, Morgan Stanley's Katy Huberty said in a recent note to clients. She said that iPhone owners are now holding onto their phones for close to four years amid changes in how phones are priced and a slowdown in the pace of tech upgrades. "However, longer battery life and upcoming 5G technology, which will enable new functionality like augmented reality and combined with aggressive trade-in offers that subsidize upgrades for existing iPhone owners, suggest replacement cycles can't stretch much further and may in fact begin to shrink," she wrote. Huberty raised her price target on Apple's stock to $368 from $296. She also hiked her bull case to $515 from $407, which reflects 235 million iPhone shipments and a replacement cycles that's slightly less than six months shorter than it is in her base case. The base case bakes in a 3.7-year replacement cycle. Apple shares are up 34% over the past three months, as the Dow Jones Industrial Average has added 8.6%.
The Dow's journey from 20,000 to 30,000 is a result of multiple expansion that is "perfectly understandable," especially in a low interest rate environment, the famed professor said. Momentum investors who are merely following the strong trend higher and overlooking valuations have reason to be worried, Siegel said. Near-term investors looking to cash in on some profits may want to consider doing so and should "watch this market closely," as a 10% correction is becoming more likely, Siegel said.
The Dow Jones Industrial Average rose 32 points, or 0.1%. The S&P 500 was up 0.2%, and the Nasdaq Composite rose less than 0.1%.
The Walt Disney Co. is dropping the 'Fox' brand from the 21st Century Fox assets that it acquired last March in a deal valued at $17 billion, Variety magazine reported Friday, citing a source close to the situation. The 20th Century Fox film studio will be renamed 20th Century Studios and Fox Searchlight Pictures will become Searchlight Pictures, according to the report. No final decisions have been made for the TV assets, which include 20th Century Fox Television and Fox 21 Television Studios. The Fox News channel remained as part of parent Fox Corp. . Fox and MarketWatch parent News Corp share common ownership. Disney shares were slightly lower Friday, but have gained 31% in the last 12 months, while the Dow Jones Industrial Average , which counts Disney as a member, has gained 20% and the S&P 500 has gained 26%.