|Bid||149.06 x 1300|
|Ask||149.07 x 200|
|Day's Range||148.17 - 149.32|
|52 Week Range||114.88 - 150.68|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.20%|
A notable divergence has cropped up between companies of varying sizes. While large-caps have continued to defy gravity, rising day-after-day amid a low-volatility grind, small-caps are retreating. Look no further than the S&P 500 and iShares Russell 2000 Index (ETF) (NYSEARCA:IWM) for proof. That has been the story for the past few weeks, and there are likely multiple culprits. The most logical is some good, old-fashion rotation. And it’s not like IWM didn’t deserve a little respite.
U.S. large-cap stocks blasted higher on Wednesday thanks almost exclusively to the 8.5% rise in International Business Machines Corp. (NYSE:IBM) after “Big Blue” reported its 22nd straight quarterly revenue decline. Click to EnlargeIn the end, the Dow Jones Industrial Average gained 0.7%, the S&P 500 gained 0.1%, the Nasdaq Composite gained a fraction, and the Russell 2000 gained 0.5%. Breadth was mildly positive, with advancers outpacing decliners by a 1.1 to 1 ratio on relatively light volume, with NYSE activity at 89.8% of its 30-day average.
Larry Fink, the chairman and CEO of BlackRock (BLK), recently shared his views on the global market (ACWI)(VTI), political uncertainty, the volatility index, and a potential setback in the market (SPY)(QQQ)....
India’s manufacturing PMI (Purchasing Managers’ Index) report for September 2017 indicates no change in manufacturing activity compared to August 2017.
U.S. equities mostly moved higher on Monday following in the wake of the S&P 500’s fifth consecutive weekly rise. In the end, the Dow Jones Industrial Average gained 0.4%, the S&P 500 gained 0.2%, the Nasdaq Composite gained 0.3% and the Russell 2000 was unchanged.
Dimon also believes that tax reform could help US businesses be more competitive globally. However, Warren Buffett believes US businesses aren’t really hurting from the US corporate tax.
Jamie Dimon, JPMorgan Chase's (JPM) CEO, believes that the Trump administration's tax reform framework “has all of the key ingredients to fuel economic expansion.”
When we keep hoping that the market will act differently, we tend to forego the opportunities that do exist.
In 2016, Puerto Rico defaulted on constitutionally guaranteed GO (general obligation) bonds. On May 3, 2017, Puerto Rico filed for Title III bankruptcy.
The ADP National Employment Report for September 2017 showed some weaker improvement in private sector employment to 135,000 in September compared to the market’s expectation of 125,000.
The performance of municipal bonds has fallen since the 2016 election, as President Trump’s tax reform and infrastructure spending plans have caused some concern among investors.
In the end, the Dow Jones Industrial Average lost 0.1%, the S&P 500 lost 0.2%, the Nasdaq Composite lost 0.2% and the Russell 2000 lost 0.4%. Treasury bond trading was closed for Columbus Day, the dollar was weaker, gold gained 0.8% and crude oil added 0.6%. Walgreens Boots Alliance (NASDAQ:WBA) fell 3.2% to hit levels not seen since late 2014.