166.81 -1.28 (-0.76%)
Pre-Market: 5:12AM EST
|Bid||166.92 x 1000|
|Ask||166.96 x 1000|
|Day's Range||163.46 - 168.54|
|52 Week Range||150.13 - 187.53|
|PE Ratio (TTM)||9.46|
|Beta (3Y Monthly)||1.19|
|Expense Ratio (net)||0.20%|
It's do or die for stocks. Brian Shannon, CMT and founder of www.alphatrends.net joins Yahoo Finance's Jen Rogers and Myles Udland to break down the action in the SPDR S&P 500 ETF (SPY). Two time frames tell two different stories.
Industrial production numbers are expected to be released at 9:15 a.m. ET, followed by Quarterly Services Report at 10 a.m. ET, Kansas City Fed Manufacturing Index at 11 a.m. ET ad Baker-Hughes Rig Count at 1 p.m. ET. At 11:30 a.m. ET, Chicago Federal Reserve Bank President Charles Evans is due to speak about current economic conditions and monetary policy at a roundtable in Chicago. U.S. stock index futures indicated a slightly lower open Friday morning as investors look ahead to fresh economic data and monitor political developments overseas.
Could Gold Be the Best Bet amid Increased Economic Uncertainty? The Fed’s interest rate hikes and outlook, trade war concerns, and the better US market (SPY) (QQQ) performance have been the key factors behind the dollar’s strength. The Federal Reserve has already raised the rates three times this year and is expected to raise them for the fourth time in December.
The stunning sell-off among tech stocks has rattled many investors, causing them to rethink their attitudes about both this market sector and risk. After anemic efforts to stage a rebound, tech stocks are still well below their highs. On Nov. 14, the Nasdaq 100 Index (NDX), widely used as a proxy for the tech sector, closed 12.1% below its all-time high set in intraday trading on Oct. 1.
BAML (Bank of America Merrill Lynch) conducted a survey that polled 225 global investors with $641 billion in total assets under management between November 2 and November 8.
US equity markets (QQQ) rose sharply after President Trump’s election in 2016. President Trump’s market-friendly policies like lowering regulations and cutting taxes were positive for the markets. The tax cut helped US companies’ 2018 earnings.
US equity markets saw a sharp sell-off last month and pared some of their 2018 gains. November hasn’t been much better. Broader equity markets are still below their 2018 highs. Among the broader market ETFs, the SPDR S&P 500 ETF (SPY) has gained 0.5% in November. SPY has risen 3.3% in 2018 based on the closing prices on November 13. However, the Invesco QQQ ETF (QQQ) has lost 1.9% in November.
Everything is Down Again US stock futures, Asian (except Japan), and European equities are all down today, together with oil yet again, in what is now a record slide in intensity. The US Dollar is flat. The S&P 500 is now decisively below its 200 day moving average. Italian bond are down again this morning, […] The post Market Morning: Everything Is Down, Brexit Agreement, Trump Cornered, Saudi Sanctions? appeared first on Market Exclusive.
And just like that, Qorvo (QRVO), supplier of RF Apple components corroborates Lumentum’s story (LITE) of supply chain cuts. December revenue guidance goes to $800-$840 million vs. consensus at $892 million. EPS goes to midpoint of $1.70 versus the street at $1.95.
The last couple of months have been volatile for the markets in general and tech stocks in particular. For example, the NASDAQ Composite Index (QQQ), the proxy for the performance of technology stocks, has fallen ~10% since the beginning of October. In the rising interest rate scenario, investors are worried about whether high-flying tech stocks will be able to continue their growth.
Over the past year or so, smart-beta ETF pioneer Invesco has rebranded itself, made two high-profile acquisitions and launched at least a dozen new funds.
Please click here for the chart of the core Producer Price Index (PPI) through October. Core PPI excludes food and energy. At The Arora Report we use core PPI in our timing model that has inputs in 10 categories.
One can only assume that the large customer is Apple Inc. (Nasdaq: AAPL), and this idea finds support in the report “Apple warns suppliers of 20% drop in new iPhone parts orders,” published by Nikkei Asian Review back on June 8. In the report, the authors stated that Apple had “asked its supply chain to prepare around 20% fewer components for iPhones debuting in the latter half of 2018,” so it looks like their information was spot-on once again.
Gold miners as a whole are looking inexpensive compared to broader equities. The average ratio of the NYSE Arca Gold Miners Index (GDX) and the S&P 500 Index (SPY) is 0.20 compared to the ten-year average of 0.68. While broader equities’ valuations have continued to increase, the valuations of gold stocks haven’t kept the pace, and the ratio has fallen.
Concerns about China’s economic growth have been among the key factors that spooked investors in 2018. The country’s economic growth rates have cooled off. President Trump has slapped tariffs on $250 billion worth of goods from China.
Dow futures were lower by 10 points, implying a negative open of 17.30 points. On the earnings front, Axa Equitable is set to report before the bell. Meanwhile, Eventbrite and Focus Financial will report after the bell.
Major U.S. indexes ticked higher on expected news from the polls and the Fed. Here are some levels to watch out for in the week ahead.
When Amazon touched below $1500 (down over 25% from $2050) at the end of October, it did a couple of things technically. It finished an Elliott Wave major trend and became oversold on an RSI basis for the second time in October. It also broke through all support and ended up dangling under the 200-day moving average. That prompted several commentators to give up on it. I even heard one guy say that Amazon (AMZN) could be dead money for a decade. Hmmm. Clearly Amazon looks pretty damaged here, but with a little bit more of a bounce the 50-day moving average could flatten back out, and this drop look like a blip. How does it look from a fundamental and valuation perspective?
PPI cranked up to +0.6% for the month of October ??? roughly double what analysts had been expecting, and the highest month-over-month increase in the last 6 years.
On November 8, China released its trade data for October. The country’s trade data have received even more scrutiny this year amid the US-China trade war. The world’s two largest economies have been involved in a bitter trade war. They have imposed tariffs on billions of dollars of products.
Cisco (CSCO) stock rose 17% in 2016 and 30% in 2017. Cisco stock has risen 67% in the last three years and close to 102% in the last five years. In comparison, the SPDR S&P 500 ETF (SPY) and the PowerShares QQQ Trust, Series 1 ETF (QQQ) have returned 3.8% and 9%, respectively, in 2018. SPY has risen 7.7% in the last year, 38% in the last three years, and 71% in the last five years.
Buyers Gorge On Stocks On Election Outcome That Surprised No One, Bonds Not So Much Excepting those who expected to be surprised, nobody was surprised by the lack of surprise in the midterm elections. The midterms went exactly as predicted by most mainstream polls and the Dow shot up 545 points, the Nasdaq (NASDAQ:QQQ) nearly […] The post Market Morning: Buyers Gorge On Stocks, Tariffs Failing, Rate Decision, Pot Stocks Rally appeared first on Market Exclusive.
Despite crashing as much as 10% from a closing high set just over a month ago and losing its $1 trillion market-capitalization crown, tech behemoth Apple Inc. ( AAPL) is poised for a big rebound, according to Wedbush Securities analyst Daniel Ives. “We continue to encourage investors to see the forest through the trees on this name and view last week as the first step in the ultimate re-rating of the stock higher over the coming years,” wrote Ives, reaffirming his $310 price target on Apple’s stock, according to Barron’s, implying 48% upside. Ives’ bullish forecast, which is based on what he sees as strength in Apple’s services businesses, flies in the face of Bank of America Merrill Lynch’s downgrade of Apple’s shares at the end of last week.