|Day's Range||13.42 - 14.60|
|52 Week Range||8.56 - 50.30|
As China threatens a rapid response against Trump's latest tariff threat, EU retaliatory tariffs take effect Friday. Yahoo Finance's Seana Smith, Dan Roberts, Dion Rabouin and Ethan Wolff-Mann disucss.
Cboe is making changes to a monthly auction that determines final prices of futures tied to the VIX. Because the VIX tends to rise when stocks fall, and vice versa, its derivatives are popular among traders to hedge portfolios or bet on the future direction of market volatility. Fears of regulatory scrutiny have swept trading desks as lawsuits emerged over Cboe’s marquee VIX products.
U.S. stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled markets and put the Dow Jones Industrial Average back in negative territory for the year. President Donald Trump threatened to impose a 10 percent tariff on another $200 billion of Chinese goods, and Beijing warned it would retaliate.
U.S. stocks fell on Tuesday as a sharp escalation in the trade dispute between the United States and China rattled the markets, though the three major indexes pared losses from earlier in the session. Tuesday's losses put the Dow Jones Industrial Average back in negative territory for the year. President Donald Trump threatened to impose a 10 percent tariff on another $200 billion of Chinese goods, and Beijing warned it would retaliate.
U.S. stocks slumped and the Dow Jones Industrial Average erased its gains for the year on Tuesday, as a sharp escalation in U.S.-China trade dispute jolted the markets and triggered a rush to safer assets. President Donald Trump, in an unexpectedly swift and sharp move, threatened to impose a 10 percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate. Trump said his move followed China's decision to raise tariffs on $50 billion in U.S. goods, which came after U.S. announced similar tariffs on Chinese goods on Friday.
After gaining for three consecutive trading weeks, the S&P 500 opened this week on a weaker note by closing lower on Monday. On June 18, the S&P 500 opened the day lower and traded with weak market sentiment. Eight out of 11 major S&P 500 sectors closed the day lower on Monday. The weakness in the telecom services, consumer staples, and healthcare sectors weighed on the market. However, strength in the energy and utilities sectors limited the market losses. Market sentiment
Pray for the global economy. For much of the past year or so, investors and economists have anxiously watched the relentless shrinkage of the gap between short- and long-term U.S. bond yields to the narrowest levels since 2007. Within the past two months, the yield on an ICE Bank of America index of government bonds due in seven to 10 years has fallen below the yield on an index of bonds due in one to three years for the first time since the first half of 2007.
US equity markets (VOO) remained largely unchanged in an eventful week that ended on June 15. Trade war uncertainty, geopolitics, and monetary policy decisions failed to dent investor confidence. The three central bank meetings solidified the divergent monetary policy narrative as the Fed remained hawkish. The European and Japanese central banks are likely to continue with the accommodative policy for the time being. The announcement of tariffs on Chinese imports reignited investor worries, but the impact was minimal.
Stock-market investors navigated, virtually unscathed, a gauntlet of central-bank gatherings, a historic summit between President Donald Trump and North Korean Kim Jong Un, and flaring trade tensions. The S&P 500 index(^GSPC)ended the week essentially flat, managing the narrowest of weekly gains, up 0.02% to 2,779.66, while the Dow Jones Industrial Average(^DJI)posted a weekly decline of 0.9%. The Nasdaq Composite Index(^IXIC)outperformed both, rising 1.3% for the five-day period.
After gaining in the first two trading days of the week, the S&P 500 pulled back on Wednesday. Following the pullback, the S&P 500 opened higher on June 14 and closed the day with limited gains. On Thursday, seven out of 11 major S&P 500 sectors closed the day higher. Strength in the utilities, consumer discretionary, and telecom services sectors supported the market. However, weakness in the financials and industrials sectors limited the market gains.
Rising real interest rates haven’t yet made for a sustained pickup in Treasury volatility, leaving some investors to ask what it would take to spark some turbulence. Danielle DiMartino Booth of Quill Intelligence said the European Central Bank, and not the Federal Reserve, holds the key as it looks to set a timetable for winding down its ultra-accommodative policies. With the Federal Reserve’s shrinking balance sheet unable to offset easy global financial conditions on its own, investors should closely watch the ECB at Thursday’s meeting where the central bank is expected to discuss the end of quantitative easing, though the actual wind-down almost certainly remains several months away at the earliest.
About 80% of S&P 500 Index companies reported first-quarter earnings that exceeded analysts’ estimates. The trigger was a return of implied volatility, as the CBOE Volatility Index (^VIX) briefly surged to 37 in February after averaging 11 in the previous 12 months. While the S&P 500 (^GSPC) rose or fell by more than 1 percentage point only eight times in 2017, already this year it has swung by that magnitude on 35 days.
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