|Day's Range||8,622.35 - 8,651.05|
|52 Week Range||6,190.17 - 8,705.91|
Markets could see a 5% sell-off if tariffs hit on December 15, strategist says.
The Federal Reserve will hold its final policy-setting meeting of the year this afternoon.
BofA analyst Tal Liani reiterated his Buy rating for Qualcomm shares, citing the company’s future revenue opportunity with Apple.
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 Dow Jones index was pressured by losses in Boeing and Home Depot on Wednesday, while the S&P 500 and the Nasdaq held on to gains as traders awaited the Federal Reserve's December policy statement for clues on the strength of the domestic economy. The U.S. central bank is widely expected to keep borrowing costs steady in its policy announcement, due at 2:00 p.m. ET (1900 GMT).
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.
Markets are also awaiting Fed Chair Jerome Powell's outlook on the economy when he holds a news conference later in the day. "As we haven't seen the effect of the three rate cuts that took place between June and October, the Fed might drop hints that it will keep policy as is for a while," said David Madden, market analyst at CMC Markets in London.
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.
Do stock and bond markets care about impeachment? The stock market is preoccupied, at least as portrayed by the media, with the status of trade negotiations between the U.S. and China over a phase-one deal that would provide some tax relief to China in exchange for its commitment to increase purchases of U.S. agricultural products. “Obsessed” is more like it, with every intimation that an agreement is nearing conclusion or facing hurdles sending stock prices (SPX)(DJIA) soaring or tumbling.
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.
Howard Marks, co-founder of Oaktree Capital Management, who has made billions investing in distressed debt, says that a 2020 election victory likely would be a major relief for Wall Street investors.
Two factors continue to be enough of a concern to us to maintain our near-term "negative" outlook for the major equity indices. The bulk of the major equity indices closed lower Tuesday with the exception of the Russell 2000, which posted a slight gain. Internals were positive on the NYSE and Nasdaq on lighter trade.
U.S. and Chinese trade negotiators are reportedly planning for a delay in tariffs due to take effect on Sunday, while Democratic lawmakers reached an agreement with the Trump administration to support a trade deal with Mexico and Canada. House Democrats also announced two articles of impeachment against President Donald Trump. The Wall Street Journal reported today that U.S. and Chinese trade negotiators are laying the groundwork to delay a fresh round of tariffs on $165 billion worth of Chinese imports set to kick in on Dec. 15.
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.
U.S. stocks ended slightly lower for a second day on Tuesday, after erasing earlier gains, as Wall Street weighed U.S-China trade negotiations.