|Day's Range||3,136.64 - 3,148.87|
|52 Week Range||2,346.58 - 3,154.26|
(Bloomberg) -- U.S. stocks fell to session lows in thin afternoon trading as investors prepared for a week brimming with potential catalysts, from central bank meetings to the looming America-China tariff deadline. Treasuries held modest gains.The S&P 500 slipped in volumes 20% below the 30-day average. Weak China export data added to concern, with investors awaiting news on whether Washington will go ahead with a planned Dec. 15 tariff hike. The Stoxx Europe 600 Index retreated. Stock indexes posted modest increases in Tokyo and Seoul, though gains mostly fizzled in Hong Kong and Shanghai.The pound edged upward as polls continued to show the U.K. Conservative Party on course to win a majority in Thursday’s election, which would likely mean Britain leaving the European Union by Jan. 31. Gold and the yen were also slightly higher.With time running out for the U.S. and China to reach a deal that would ward off an escalation in tariffs, markets will be watching closely for any signs of progress. White House economic adviser Larry Kudlow said Friday the two sides are haggling over the amount of American farm products Beijing is willing to purchase. Data showed China’s exports fell 1.1% in November, with those to the U.S. tumbling 23%, underscoring why the Asian nation may want to resolve the dispute.“There’s no upside risks on the horizon,” Katrina Ell, an economist at Moody’s Analytics, said on Bloomberg TV. “It is weighted to the downside and that big downside risk is coming from the trade war.”Also in focus for investors this week will be central banks, with policy meetings at the Federal Reserve and the European Central Bank that may offer clues on whether more monetary easing is in store in 2020.Elsewhere, oil slipped, trimming last week’s rally spurred by Saudi Arabia promising significant additional production cuts beyond what was agreed with fellow OPEC+ members.Here are some key events to watch this week:The Federal Reserve decides on interest rates on Wednesday, followed by a press briefing from Chairman Jerome Powell.China reports on inflation Tuesday, and data on credit growth is due at some point in the coming weekThe next European Central Bank policy decision is on Thursday.The U.K. holds a general election Thursday.These are some of the main moves in markets:StocksThe S&P 500 fell 0.3% at 2:14 p.m. New York time.The Stoxx Europe 600 Index dipped 0.2%.The MSCI Asia Pacific Index advanced 0.3%.The MSCI Emerging Market Index gained 0.3%.CurrenciesThe Bloomberg Dollar Spot Index edged lower.The euro jumped 0.1% to $1.1071.The British pound advanced 0.1% to $1.3147.The onshore yuan declined 0.1% to 7.04 per dollar.The Japanese yen was flat at 108.54 per dollar.BondsThe yield on 10-year Treasuries declined one basis point to 1.82%.The yield on two-year Treasuries fell one basis point to 1.61%.Germany’s 10-year yield sank two basis points to -0.31%.Japan’s 10-year yield climbed less than one basis point to -0.002%.CommoditiesWest Texas Intermediate crude fell 0.8% to $58.73 a barrel.Iron ore climbed 0.1% to $91.99 per metric ton.Gold futures added 0.1% to $1,466.70 an ounce.What’s your 2020 vision? Terminal users are invited to join the Markets Live blog’s survey.\--With assistance from Vildana Hajric.To contact the reporter on this story: Sam Potter in London at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Yakob PeterseilFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The BIS highlighted two potential contributors to an unexpected September jump in U.S. interest rates: Just four banks do an outsized share of the lending of cash reserves into money markets in exchange for government-bond collateral, in transactions called repurchase agreements, or repo. Strategists and regulators have attributed most of the volatility in interest rates to a large settlement of Treasury securities and a tax-payment deadline tying up cash reserves in the U.S. financial system.
Elon Musk’s company wants to mount lasers on its cars. Even if the technology doesn’t work, the patent application illustrates one thing: Telsa is a master at generating buzz.
A recent poll of likely voters shows 61% of Americans said that the market’s rally has had little or no impact on their finances.
"There is optimism about the potential of a roll back or some positive news on trade that is keeping stocks where they are," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The S&P 500 came within striking distance of a record high hit two weeks ago.
U.S. stocks are edging lower, despite Friday’s stellar jobs report, as investors keep a close eye a string of global central bank policy updates, trade negotiations and a key tariff deadline on Sunday.
Juniper Networks Inc. said Monday it has appointed Raj Yavatkar as chief technology officer with a start date of later this month. Yavatkar was in charge of developing network virtualization infrastructure and products for cloud networking at Google , Juniper said in a statement. The executive has also done stints at VMWare Inc. and Intel Corp. . Yavatkar will replace Bikash Koley, who resigned in November, according to a regulatory filing. Juniper shares were down 1% Monday and have fallen 7.4% in 2019, while the S&P 500 has gained 25%.
You’ve put money aside for retirement year after year, sometimes the max, sometimes less when you had expenses to pay. You’ve invested it well, so now you have a good enough nest egg to carry you through the next phase of your life — retirement. There are plenty of vehicles aimed specifically at investing for retirement, especially target-date funds, where fund managers reduce your stockholdings as your chosen retirement date draws near.
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.
Citigroup’s Alice Yap initiated coverage of Alibaba’s Hong Kong shares with a Buy rating and a target price of 284 Hong Kong dollars..
Former Federal Reserve Chairman Paul A. Volcker, who died over the weekend at 92, was a towering figure both in stature (he was 6 foot, 7 inches tall) and in his role in American life: He broke the back of inflation for at least a generation, maybe two. A cottage industry of “Fed watchers” had to glean what the central bank was doing from what happened in money markets or, as I’ve liked to joke, by watching which way the ashes fell from Volcker’s signature cigars. When President Jimmy Carter appointed him in August 1979, the consumer-price index was rising at nearly a 12% annual clip.
In case you need any more evidence that the streaming-video business is fundamentally remaking movie and TV production, take a look at the Monday morning announcement of nominations for the 2020 Golden Globe Awards.
The three major U.S. stock market indexes fell as investors fear that there won’t be enough progress made in trade talks between the U.S. and China to prevent tariffs that are scheduled for Dec. 15 from taking effect.
Things are about to get worse for investors at Macy’s, Goldman Sachs said in a note to clients on Monday, cutting the shares of the department store from to Sell from Neutral.
"There is optimism about the potential of a roll back or some positive news on trade that is keeping stocks where they are," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The latest data from China showed exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from trade tensions.
DEEP DIVE One of the best aspects of the slow but sustained growth of the U.S. economy has been that hourly wages have been growing faster than the overall economy. This is wonderful for consumers. But with slow growth overall, the tight labor market can put a damper on corporate profits and hurt investors’ returns.
The U.S. labor market defied expectations and registered another strong month of growth in November, the Labor Department said Friday. That’s good news for the economy, but at some point higher labor costs may start to nibble away at corporate margins, meaning not-so-good news for shareholders.
(Bloomberg) -- As stocks rallied to record highs last month, retail investors embraced the run.Clients of TD Ameritrade increased their holdings of riskier assets for a second consecutive month in November. That pushed the firm’s Investor Movement Index, which has tracked clients’ positioning since 2010, to the highest level in a year, the Omaha, Nebraska-based brokerage said Monday.“As the market got to all-time highs, our clients started to pick up their pace just a little bit more,” JJ Kinahan, chief market strategist at TD Ameritrade, said in an interview. “There might be an expectation of a Santa Claus rally, so-to-speak, as we head into the end of the year.”The S&P 500 Index gained for a third straight month in November, pushing the benchmark to a record closing high of 3,153.63 on Nov. 27. Up 26% this year, the gauge is set for its second best year of the past decade’s bull market.Still, the level of risk allocation in TD Ameritrade’s measure ranks as “moderately low” on a historical basis, according to the firm. Clients continue to buy short-term fixed income products with maturities of six months or less, Kinahan said. However, purchases of bonds in November weren’t as aggressive as earlier this year, and investors are gravitating more toward equities.Below are some of the most popular buys and sells ordered by TD Ameritrade clients last month:BUYS: The Walt Disney Co., Microsoft Corp., McDonald’s Corp., Ford Motor Co.SELLS: Bank of America Corp., Citigroup Inc., Tesla Inc., Netflix Inc.To contact the reporter on this story: Sarah Ponczek in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Brendan Walsh, Rita NazarethFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Shares of Fate Therapeutics gained 37% after it shared promising data from one clinical and one preclinical study for its experimental cancer immunotherapy treatments. The company is testing two therapies, FT516 and FT500, in a very small Phase 1 trial as treatments for acute myeloid leukemia and as a combination therapy for advanced B-cell lymphoma. Separately, Fate said preclinical data for FT596 was also positive, and it will begin enrolling patients in its first human trial early next year. Fate's stock is up 46% year-to-date. The S&P has gained 25% during the same timeframe.
(CVX) has been one of the top large-cap energy stocks in a lackluster year for the sector. Citi’s Alastair Syme downgraded shares to Neutral from Outperform on Sunday, and dropped his price target to $120 from $135. Owning energy stocks has been a losing bet in general over the past decade, and particularly over the past year.
The S&P 500 and Nasdaq indexes edged higher on Monday, with investors keeping a close watch on headlines around U.S.-China trade as planned tariffs on Chinese imports kick in on Dec. 15. Beijing and Washington are negotiating a first phase trade deal aimed at de-escalating tariff disputes but they continue to wrangle over key details.
While value investors look for stocks that have become priced too low or high based on fundamental metrics such as earnings, revenue and debt, technical traders base their buys and sells off of recent ...