266.50 +0.94 (0.35%)
After hours: 7:53PM EDT
|Bid||0.00 x 1000|
|Ask||0.00 x 800|
|Day's Range||264.63 - 266.21|
|52 Week Range||216.97 - 269.28|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.97|
|Expense Ratio (net)||0.17%|
As the FOMC aggressively hinted at future rate cuts, the S&P 500 drifted higher and the 10-year Treasury yield hit a multi-year low.
In a move that was widely expected, the Federal Reserve opted not to cut interest rates on Wednesday. The decision comes just six weeks after the Fed said the U.S. economy is solid and the labor market remains strong. “In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective,” the Fed said in a statement.
If the Fed doesn't signal significant easing ahead, the markets could nosedive. Many analysts agree that the markets might be overpricing the Fed's rate cuts this year.
This afternoon, Fed Chair Jerome Powell is expected to give public remarks on the state of the U.S. economy, even though expectations are low he will be announcing a 25 basis-point interest rate cut.
Yesterday, the Dow Jones Industrial Average (DIA) settled near the 26,465 level with about 1.4% gains for the day. The index rallied after President Donald Trump said that he would be meeting President Xi Jinping next week on the sidelines of the G-20 Summit in Japan.
Global stocks surged Tuesday following news that President Donald Trump and Chinese President Xi Jinping will be meeting to discuss trade at the upcoming G-20 summit at the end of the month. What Happened ...
Could there soon be a recession? "Bond king" Jeffrey Gundlach thinks so. He shared his views regarding the Fed, markets, recession, and strategies to hedge against the slowdown during a DoubleLine investor webcast on June 13.
Fresh stimulus proposals for the ECB, which may begin as soon as next month, when the body reconvenes, are sending U.S. market futures up.
U.S. markets and stock exchange traded funds inched higher Monday as traders on a highly anticipated Federal Reserve meeting that is expected to outline the potential path to interest rate cuts this year. On Monday, the Invesco QQQ Trust (QQQ) was up 0.7%, SPDR Dow Jones Industrial Average ETF (DIA) gained 0.2% and SPDR S&P 500 ETF (SPY) rose 0.2%. Investors will be closely monitoring the Fed's meeting concluding Wednesday for direction on the central bank's monetary policy for the year after rising expectations for an interest rate cut in recent weeks.
Consumer spending has taken a backseat in the first quarter. The US economy is facing headwinds like slower tax refunds, declining job numbers, and escalating trade tensions. The trade war is a major headwind for apparel retailers.
U.S. markets and stock exchange traded funds stumbled Friday as weak economic data, growing tensions over trade and the uncertain global outlook weighed on sentiment. On Friday, the Invesco QQQ Trust (QQQ) was down 0.4%, SPDR Dow Jones Industrial Average ETF (DIA) was flat and SPDR S&P 500 ETF (SPY) fell 0.2%. “People are struggling to figure out where to put their money in the midst of so many unknowns,” Justin Wiggs, managing director in equity trading at Stifel Nicolaus, told the Wall Street Journal, highlighting the ongoing trade tensions and doubts about the direction of interest rates as some of these unknowns.
Retail Sales, Industrial Production and Capacity Utilization all put up numbers strong enough to keep interest rate cut narratives at bay.
The sudden rally in the market was driven by Federal Reserve Chair Jerome Powell's dovish comments last week that “the Fed will act as appropriate to sustain the expansion.” A CNBC article stated that market traders think there's a 70% chance of an interest rate cut in July and a ~60% chance of three rate cuts in 2019.
On June 13, the US Department of Labor reported its jobless claims report for last week. Initial jobless claims rose 3,000 to 222,000 for the week that ended on June 8—below analysts' expectation of 215,000. What does this say about the prospect of a rate cut?
U.S. markets and stock exchange traded funds bounced higher Thursday after a back-to-back decline as the energy sector helped lift the broader market higher in response to a sharp rise in oil prices, following suspected attacks on oil tankers in the Gulf of Oman. On Thursday, the Invesco QQQ Trust (QQQ) was up 0.4%, SPDR Dow Jones Industrial Average ETF (DIA) was 0.3% higher and SPDR S&P 500 ETF (SPY) rose 0.3%. Crude oil prices surged a day after touching five-month lows after an series of attacks near Iran and the Strait of Hormuz, which sees a fifth of global oil trafficked through, Reuters reports.
Paul Tudor Jones has told Bloomberg that he expects an aggressive but short period of rate cuts by the Fed, which is set to meet on June 18 and 19.
A Perfect Storm for Gold: All Macro Drivers AlignGold price movementIt has been difficult to predict gold movement this year—economic reports have been more or less mixed and US-China trade deal optimism has curbed gold prices. However, as trade
On Tuesday, the Invesco QQQ Trust (QQQ) was up 0.3%, SPDR Dow Jones Industrial Average ETF (DIA) was 0.1% higher and SPDR S&P 500 ETF (SPY) rose 0.1%. The equities market have rallied on back-to-back gains in response to hopes that the Federal Reserve would cut interest rates in light of the damaging effects of a prolonged trade conflict. The Fed will meet next week, and investors will be closely watching for hints of a potential monetary policy change.