|Bid||0.00 x 800|
|Ask||0.00 x 2200|
|Day's Range||278.66 - 279.93|
|52 Week Range||241.83 - 286.63|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.09%|
Key index funds were mixed Friday as the Dow industrials led but the tech-heavy Nasdaq composite lagged. Bank ETFs were lower.
A federal grand jury led by special counsel Robert Mueller has indicted 12 Russian military officers with hacking the Democratic National Committee and Hillary Clinton’s campaign networks with the intent to interfere with the 2016 presidential election. Deputy Attorney General Rod Rosenstein said President Donald Trump was briefed on the allegations earlier in the week. Specifically, the indictments don't appear to impact his upcoming meeting with Russian President Vladimir Putin, who he said he will “absolutely firmly” ask about the allegations.
With an end-of-year target level of 2,850 for the S&P 500, Goldman does not see much upside left for the latter half of the year. In the sphere of U.S. politics, worries over senior staff turnover, the possibility of Democrats re-taking the House, and the ongoing Special Counsel investigation have all raised policy uncertainty.
Micro-cap stocks and the related exchange traded funds are delivering some impressive returns, so perhaps it is time for some additions to the fray. “DWMC seeks long-term capital appreciation by investing in exchange-listed micro-cap equities with sufficient liquidity that have a market capitalization of less than $1 billion,” according to a statement from Maryland-based AdvisorShares.
In the preceding parts of this series, we discussed how gold prices have remained weaker despite escalating trade war fears and geopolitical tensions. Many of these risks stem from the ongoing trade spats, which would create inflationary (TIP) pressures in the economy apart from uncertainty. Gold (GLD) is often seen as an inflation hedge.
After a more than six-fold gain in five years many on Wall Street are wondering just how much further Amazon.com Inc. ( AMZN) can rise. Revenues from advertising, cloud computing and the e-commerce giant’s Prime service could push the stock’s price to as high as $2,600, implying a 45% upside from Thursday’s close, according to Barron’s. While Morgan Stanley’s price target of $1,700 is below Amazon’s current stock price, the bank’s analysts do see a way in which that price could hit the significantly more optimistic forecast of $2,600.
After a bumpy ride in the first half of the year, global stocks are bouncing back, with iShares MSCI ACWI Index Fund (NASDAQ:ACWI), which targets the global stock market, up 1% last week. The U.S. stocks, as indicated by SPDR S&P 500 ETF (NYSEARCA:SPY), which tracks the S&P 500 index, is up 1.5% to start the second half versus 0.6% gain for Vanguard FTSE All-World ex-US ETF (NYSEARCA:VEU), which targets the international equity market excluding the United States.Source: Investment Zen via Flickr (Modified)
Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened On July 12, 1909, Congress approved the 16th Amendment empowering the legislature to charge ...
The S&P 500 Index fell ~0.7% to 2,774.02 on July 11. On the same day, the US government threatened to impose new tariffs on goods worth $200 billion imported from China. The escalating trade war between the US and China pressured the S&P 500 the same day. China warned the US and said that it would take strict countermeasures. Ten out of the 11 key sectors in the S&P 500 dropped on July 11.
Rising prices for things like gasoline and housing are eating into U.S. consumers' wage increases, a potential threat to the U.S. expansion and the stock market. The Labor Department’s consumer-price index rose 2.9% from a year earlier in June, data showed Thursday. Economists fear the widening gap between inflation and wage growth will dampen consumer spending, which drives two thirds of the U.S. economy.
As we’ve discussed previously in this series, the escalating trade tensions haven’t been able to support gold much in 2018 mainly due to the simultaneous appreciation in the US dollar (USDU), which has capped gold’s gains. While the index for current conditions came in as expected, the sentiment over future business conditions and income prospects declined. Investors should note that consumer spending (XLY) constitutes more than two-thirds of the US economy.
The US non-farm payroll figure for June improved at a marginally slower rate than in May. In June, 213,000 jobs were added compared to 244,000 in May. The data for June, however, beat the market expectation of 195,000 job additions. The broader market S&P 500 Index (SPY), the Dow Jones Industrial Average Index (DIA), and the NASDAQ Composite Index (QQQ) rose 0.85%, 0.41%, and 1.34%, respectively, on Friday, July 6, after the announcement of the non-farm payroll report. The US unemployment rate threw a surprise for June as it grew to 4.0% from 3.8% a month earlier.
Shares of Salesforce.com Inc. ( CRM) have more than tripled in the last five years and are set to climb even higher. Expecting the cloud-computing solutions company to hit the high end of its forecast in what he describes as a “challenging quarter,” JMP Securities analyst Patrick Walravens recently raised his price target for the stock from $140 to $163, implying a 12% upside from Wednesday’s close. Salesforce reported 27% growth in the same period a year ago following a 16% increase in the period one year previous to that.
Semiconductor ETFs were among the worst performing Wednesday, cutting short a rebound. SPDR S&P Semiconductor, iShares PHLX Semiconductor and VanEck Vectors Semiconductor fell more than 2% Wednesday afternoon, poised to break four-day win streaks.
Trump said Tuesday he intends to target another $200 billion in Chinese imports — from fish and mattresses to baseball gloves and phone components — with 10-percent taxes. Prices for tools sets, batteries and remote controls were expected to ultimately rise. This time, consumer products — dog leashes, handbags, furniture, cigarettes and apparel — are being directly targeted, and without the supply chain buffer, the consumer shopping experience will become unavoidably more expensive.
Rising trade war concerns have played an important role in the market’s recent movements. As the world’s two largest economies, the United States (SPY) and China (FXI), enter into a historic trade war, many market participants are expecting that tensions could affect major emerging nations, whose demand outlooks could be hampered. Major commodities, including oil, showed some nervousness as market participants expected rising trade tensions to hamper the demand outlook for major emerging nations.
On July 10, 2018, the Trump Administration announced the preparation of a 10% tariff on Chinese goods, worth about $200 billion, in the third round of tariffs on Chinese goods this year. According to a White House official who spoke to CNBC, the reason for adding the $200 billion figure was because it was "roughly equal to their exports to us". As of May 2018, the U.S. imported nearly $205.1 billion worth of Chinese goods. Trump's initial decision to impose steep tariffs on imported steel and aluminum earlier in March did not go down well with United States' biggest trading partner - China.
The robo-advisor movement is going strong, but the nuts and bolts of competition are taking out the smaller players. On Tuesday, Hedgeable, a pioneer in automated advice, will shut down its managed accounts just shy of the company's 10-year anniversary. Co-founder and Chief Operating Officer Matt Kane declined to comment, but referred Barron's to its client note: "Hedgeable is restructuring, and we have decided to discontinue our regulated investment management business effective Aug. 9." The firm will continue to manage its $80 million in assets until that date, but current clients must transfer their accounts to another advisor or brokerage firm by then.