|Bid||173.61 x 800|
|Ask||173.62 x 3200|
|Day's Range||171.57 - 173.99|
|52 Week Range||146.33 - 187.53|
|PE Ratio (TTM)||9.74|
|Beta (3Y Monthly)||1.19|
|Expense Ratio (net)||0.20%|
Weaker-than-expected Retail Sales numbers for September, with a headline of +0.1% growth, was well beneath the +0.7% analysts had been looking for.
U.S. stock futures declined again on Monday as Saudi Arabia faced growing pressure from the U.S. Future contracts on the S&P 500 index, Dow Jones Industrial Average and Nasdaq were all in the red, indicating that investors remain cautious about U.S. stocks after last week’s sharp sell-off. President Donald Trump’s feud with Saudi Arabia over a missing journalist poses one of the biggest risks to stock market sentiment at the beginning of the week.
Rising interest rates tend to draw capital from equities to bonds, and these trends are reinforced by a flight to safety. The RSI appears very oversold at 16.95, but the MACD remains in a long bearish downtrend.
Gold, Miners Have Surged on the Market Rout—What’s the Upside? The Commodity Futures Trading Commission reports the positions of major players in the futures market in its COT (Commitment of Traders) report. It’s released every Friday and shows the open interest recorded on the previous Tuesday.
Today, October 12, the broader market is bouncing back after falling for six consecutive sessions. As of October 11, the S&P 500 index (SPY) has fallen 6.4% MTD (month-to-date). The Dow Jones Industrial Average (DIA) and the Nasdaq Composite index (QQQ) have fallen 5.3% and 8.7%, respectively.
One of the primary reasons advisors recommend clients hold a mix of equity and fixed income assets in portfolios is diversification. A potential benefit of that increased diversification is reduced correlations, meaning bonds and equities do not often move in the same direction. When equity-based exchange traded funds, such as the Invesco QQQ Trust (QQQ) , SPDR Dow Jones Industrial Average ETF (DIA) and SPDR S&P 500 ETF (SPY) decline, fixed income funds should provide some buffer against those pullbacks.
US equity markets continued their selling spree yesterday. Rising Treasury yields have been blamed for the equity market sell-off. To be sure, the US Federal Reserve has already raised rates three times this year and looks set for another rate hike later this year.
Both stocks and bonds moved down sharply Wednesday, continuing a phenomenon that emerged in the short-lived correction at the beginning of 2018. The Dow lost more than 800 points.
If you looked away for half a minute today, you may have missed a 200 point swing in the DJIA in either direction. The Nasdaq officially fell into a correction … the first of the major U.S. markets to do so.
Anne-Marie Baiynd, trader and author at Thetradingbook.com, joined Benzinga’s PreMarket Prep trading show on Thursday morning. “What I said to myself was hey, there’s a line and I can see it, and if [buyers] don’t step in there then that’s a signal that says, 'no, Anne Marie, you’re wrong and you need to wait until you see them coming in,'” she said. While discipline is key to successful trading, Baiynd said traders should be careful about being too firm with their entry and exit targets.
What's Next for Tech Stocks after Wednesday’s Sell-Off? The Federal Reserve raised the interest rates for the third time this year on September 26 by 25 basis points to 2%–2.25%. The ten-year US (SPY) Treasury rate touched a seven-year high of 3.227% on October 5, gaining 17.1 basis points, or 0.171%, over the last week, the sharpest gain since February.
In the previous part of this series, we discussed why investors shouldn’t fall prey to a minor market bounce back and enter long positions. Investors should remember that market rallies often witness downside corrections followed by a rally extension. In similar fashion, the market sell-off could be followed by a minor bounce back before the sell-off intensifies. Let’s find out what technical indicators are suggesting and explore some key support and resistance levels.
Does the Sell-Off Imply Market Repositioning for Lower Growth? Technology companies are the ones leading the current market decline. Amazon (AMZN), Netflix (NFLX), and Apple (AAPL) stocks took a sound beating yesterday and plunged 6.1%, 8.4%, and 4.6%, respectively.
In the previous part of this series, we discussed how weaker-than-expected third-quarter earnings could add to investors’ concerns amid the broader market sell-off. The S&P 500 Index (SPY), the Dow Jones Industrial Average (DIA), and the NASDAQ Composite Index (QQQ) were still trading with 4.2%, 3.6%, and 10.1% gains year-to-date, respectively, after a steep decline on October 10. Let’s take a look at why investors shouldn’t rush to enter a long position following any minor market bounce back.
For the last few days, the bond markets have seen sell-offs due to stronger-than-expected economic data and hawkish comments from the Federal Reserve. On October 3, Fed chair Jerome Powell said, “We may go past neutral, but we’re a long way from neutral at this point, probably.” These comments likely mean that more rate hikes are ahead. Higher yields are usually negative for equities because companies’ borrowing costs increase as the risk-free rate goes up. Higher rates might deter some investment and increase the cost of borrowing, which could impact companies’ earnings and stock prices.
The Dow Jones Industrial Average suffered one of the worst single trading day sessions in recent memory Wednesday, while the S&P 500 its first five-day losing streak since late 2016. Wednesday's trading session flashed at least one signal that the stock market's move to the downside may be overexaggerated, Cramer said during his daily "Mad Money" show. Of coarse, investors shouldn't jump into the market with all the cash that was sitting on the sidelines, Cramer said. Rather, investors should be buying small positions of "some of the great stocks" that are "generational changers," like the "cloud kings" or FANG names, the CNBC host said.
Economists tend to see current realities as deserving of higher rates, as they serve to absorb inflation from hitting the market too hard, too quickly.
October started on a negative note for the broader market. On October 10, the S&P 500 benchmark registered losses for the fifth consecutive session. As of October 10, the S&P 500 Index (SPY) has fallen 4.4% so far in October. Similarly, the Dow Jones Industrial Average (DIA) has fallen 3.2%, while the NASDAQ Composite Index (QQQ) has fallen ~7.6% in October.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Jen Rogers to discuss the latest market moves.
After Wednesday's strong sell-off and Thursday's more mild swings, how should investors position themselves? Yahoo Finance's Seana Smith and Dion Rabouin discuss with John Davi, Chief Investment Officer at Astoria Portfolio Advisors and Brian Brenberg, professor at King's College.
Live from the floor of the New York Stock Exchange, Matthew Cheslock joins Yahoo Finance's Jared Blikre and Alexis Christoforous to discuss the latest market moves.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Alexis Christoforous to discuss the latest market moves.