|Day's Range||1.8150 - 1.8510|
|52 Week Range||1.4290 - 3.1290|
With the end of the year and the decade fast-approaching, Wall Street strategists have begun to deliver their expectations about where the stock market will close out 2020.
The number of people who applied for jobless benefits last week shot up to a nearly five-month high, but the surprising spike likely stemmed from seasonal quirks just ahead of the holiday season instead of a pronounced increase in layoffs. Initial jobless claims rose by 14,000 to 225,000.
U.S. stocks pull back Thursday, drifting lower a day after the Dow Jones Industrial Average and S&P 500 eked out record closes.
U.S. Treasury yields slip Thursday as investors eye weakening economic data in Asia, along with geopolitical jitters and uncertainty around a phase one trade deal.
Wall Street futures slipped lower Thursday, following on from a modestly weaker session for global stocks, as investors reacted to reports of a snag in US-China trade talks and mixed data from two of the world's biggest exporters.
The Dow Jones Industrial Average and benchmark S&P500 index both closed at new records Wednesday, helped by a jump in Disney’s stock price, as a five week rally rolled on.
U.S. Treasury yields pull back on Wednesday as uncertainty on how a phase one trade deal will shape up drives investors to take shelter in government paper.
Cannacord Genuity strategist Tony Dwyer is once again predicting an S&P 500 retracement. He explains why.
The federal government’s budget deficit in October rose 34% from a year earlier to $134.5 billion, putting the U.S. on course to top the $1 trillion mark in fiscal 2020 for the first time in eight years.
The Dow Jones Industrial Average is fresh off ringing up its ninth all-time high of 2019 but further records for the market may hinge on a series of speeches by arguably the most important catalysts for the stock market.
Americans paid higher prices for gasoline, medical treatment and recreation in October, but inflation more broadly remained low and fairly stable. The consumer price index rose 0.4% in October, with energy accounting for more than half the increase.
U.S. Treasury yields ended mostly flat Tuesday after a speech by President Donald Trump in New York rehashed his disapproval of the Federal Reserve’s measured approach to interest rate cuts, but disappointed in terms of offering concrete details on the state of trade discussions
U.S. stocks mostly ended higher on Tuesday as President Donald Trump suggests a trade deal could happen soon but did not offer much clarity on the possibility of a tariff rollback as part of the agreement.
The reason is tepid earnings results throughout 2019, according to analysts at DataTrek in a Monday note. “2019’s no-growth earnings will make for easy [comparables] in 2020 if the U.S.-China trade war abates,” DataTrek co-founder Nicholas Colas wrote. Colas said the final three months of 2019 should benefit from comparisons with last year, but Wall Street strategists now expect a 1.1% decline in earnings for the quarter.
A “fear of missing out” triggered a huge switch by fund managers from cash into stocks, according to a survey conducted by Bank of America Merrill Lynch released on Tuesday.
Bank of America Merrill Lynch upgraded its year-end forecasts for the 10-year bond yields of the U.S., the U.K. and Germany. It lifted its 10-year yield U.S. view to 2% from 1.25%, its German view to -0.2% from -0.75% and its U.K. view to 0.8% from 0.5%. "Relative to our more pessimistic revision in August, the US and China are working to de-escalate trade tensions, no-deal Brexit risks have been banished for now, global data have started to stabilize, and central banks have shifted from dovish to neutral policy stances," the broker said. The new forecasts are much closer to current levels -- the U.S. 10-year yield was 1.94%, the German 10-year yield was -0.24% and the U.K. 10-year yield was 0.81%.
Gold futures settled firmly lower Monday, driving the yellow metal to the weakest level level in about three months. December gold concluded the session off $5.80, or 0.4%, at $1,457.10, marking the lowest finish for the most-active contract since early August, according to Dow Jones Market Data. A recent resurgence in equity markets, notably the Dow Jones Industrial Average and the S&P 500 index , have sapped demand for gold and assets perceived as havens, including Treasurys. Indeed, rising yields, which move inversely to prices, with the 10-year Treasury note at 1.94%, can compete against gold, which doesn't offer a coupon.
It’s as bad a time for the global economy as any since the end of the last recession, according to two separate surveys released on Monday.
The Federal Reserve cut interest rates in October as expected, leaving investors to focus on the stability of economic factors and trade.
Investors have long been told that the ideal portfolio should carry 60% of its holdings in equities and 40% in bonds, a mix that provides greater exposure to historically superior stock returns, while also granting the diversification benefits and lower risk of fixed-income investments. “The relationship between asset classes has changed so much that many investors now buy equities not for future growth but for current income, and buy bonds to participate in price rallies,” Harris and Woodard wrote.
The surge in the benchmark U.S. Treasury 10-year note yield to three month highs in the past week could be giving a thumbs up to equity investors despite the implied rise in the cost of capital from a higher yield curve.
Atlanta Fed President Raphael Bostic tells reporters that he didn’t want the Fed to cut interest rates at their meeting in late October.
U.S. Treasury yields were mostly steady on Friday, capping a weeklong surge, after signs of progress toward a U.S.-China trade deal pushed long-term government rates to multimonth highs this week.