Previous Close | 33,762.76 |
Open | 33,771.13 |
Volume |
Day's Range | 33,621.04 - 33,804.22 |
52 Week Range | 28,660.94 - 34,712.28 |
Avg. Volume | 315,274,444 |
Despite a recent surge in stocks, Morgan Stanley sees an earnings recession on the horizon in 2023.
With the release of the May ISM services index coming in lower than expectations, Yahoo Finance Live breaks down what the data is saying.
The stock market started the calm day with mixed results. Samsara stock continues its Friday rally following a strong first quarter earnings report.
The S&P 500 and the Nasdaq rose on Monday, as Apple scaled an all-time peak and investors weighed up chances of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Apple Inc shares rose 1.8% to touch an all-time high ahead of its annual software developer conference later in the day, where the iPhone maker is widely expected to announce a new mixed-reality headset.
The S&P 500 and Nasdaq on Monday hovered near highs hit in the previous session as Apple scaled an all-time peak, while investors assessed odds of the Federal Reserve pausing interest rate hikes at its upcoming policy meeting. Apple Inc shares rose 1.5% to touch an all-time high ahead of its annual software developer conference later in the day, where the iPhone maker is widely expected to announce a new mixed-reality headset.
The Dow Jones dipped with Apple set to unveil its mixed-reality headset. Oil prices popped on a surprise Saudi cut. Tesla is rising.
Oil prices popped Monday, pushing energy stocks up, following Saudi Arabia's decision to cut oil production.
On the charts, all the major equity indexes closed higher Friday with positive NYSE and Nasdaq internals. All closed near their intraday highs, which resulted in the following positive chart events being registered: The S&P 500 (see above), DJIA, Dow Jones Transports, MidCap 400, Russell 2000 and Value Line Arithmetic Index all closed above resistance with the DJIA, Dow Transports, MidCap and Value Line index closing above their near-term downtrend lines. As such, there are no near-term bearish trends present, with the S&P, Nasdaq Composite, Nasdaq 100, Russell 2000 (page 3), and Value Line index near-term bullish and the rest neutral.
Stocks had a muted opening Monday after Friday’s big rally as investors awaited the release of data on the U.S. services sector. The S&P 500 climbed 0.1%, and the tech-heavy Nasdaq Composite was up 0.1%. Ahead of next week’s Federal Reserve interest-rate decision and the latest inflation data, investors are keeping a close eye on the Monday release of the ISM services purchasing managers’ index (PMI) for May, in addition to the S&P U.S. services PMI for last month.
Wall Street closed sharply higher on Friday buoyed by impressive jobs data for May.
This laggard is starting to show better technical performance and could close some of the gap with other indexes.
The market sent bullish signals last week. Crude prices jumped as Saudi Arabia cut output. Apple and Palo Alto have big news. Tesla is in a buy zone.
As investors look ahead to the Federal Reserve’s monetary policy decision next week, services-sector data due in the day ahead are in focus. S&P 500 futures were up 0.1%, with contracts tracking the tech-heavy Nasdaq down 0.1%. “The week after payrolls is almost always a bit quiet for data and this week we have the added kicker of a Fed that has started their media blackout period ahead of next week's FOMC,” said Jim Reid, a strategist at Deutsche Bank.
After leading the three major indexes last year, the Dow Jones Industrial Average has been a laggard in 2023. Let's take a look at the three best performers in the blue chip index last month to see if any of them are worth buying today. In a month where tech stocks soared with the help of a blowout report from AI chip king Nvidia, it shouldn't be a surprise that a tech stock is leading the pack.
Stock futures edge higher as jobs report, debt deal boost global markets; Week Ahead: inflation data, Treasury bond sales in focus; Saudi Arabia agrees steep production cuts as OPEC seeks to 'stabilize' global markets; Palo Alto Networks leaps on S&P 500 inclusion, DISH Networks slumps and AstraZeneca unveils 'unprecedented' data from late-stage lung cancer trial.
Over a half-dozen high-flying stocks have split their shares in recent years. One stands out as a surefire buy in June, while another is priced for perfection in an imperfect industry.
U.S. stocks are seen opening in a mixed fashion Monday, stabilizing after a broad-based rally as investors digest more economic data with next week’s Federal Reserve policy-setting meeting in mind. At 06:50 ET (10:50 GMT), the Dow futures contract was up 30 points, or 0.1%, S&P 500 futures traded 2 points, or 0.1% higher, while Nasdaq 100 futures dropped 23 points, or 0.2%. The main Wall Street indices closed firmly higher on Friday, following strong jobs data and after Congress passed a bill to lift the federal debt ceiling, signed into law by President Joe Biden over the weekend, thus averting a default which would have had economically disastrous repercussions.
It's the latest mixed reading on the U.S. economy, which has begun to slow under the weight of higher interest rates but has defied forecasts for a recession so far. A gain for market heavyweight Apple helped lift Wall Street. Both were close to $120 a year ago, and their prices have fallen on worries that a strapped global economy would burn less fuel.
Investing.com -- Saudi Arabia vows to slash oil production from next month, while U.S. President Joe Biden signs into a law a bill that lifts the country's debt ceiling and averts a possibly catastrophic default. Elsewhere, Apple gears up to reveal a long-awaited "mixed reality" headset.
Asian stocks followed Wall Street higher on Monday after strong U.S. hiring data coupled with scant wage gains suggested a possible recession might be further away, but also that inflationary pressures are weakening. Shanghai, Hong Kong and Seoul also rose. Wall Street's benchmark S&P 500 index leaped 1.5% on Friday, putting it on the verge of entering what traders call a “bull market” after rising nearly 20% in seven months.
Investing.com - U.S. stock futures were trading in a mixed fashion during Sunday's evening trade after major benchmark averages closed out the holiday-shortened week higher as stronger than expected nonfarm payrolls data boosted investor sentiment, while President Joe Biden signed the debt ceiling bill into law over the weekend in order to avoid an impending U.S. default.