|Day's Range||84.56 - 84.62|
Alissa Coram, Multimedia Content Editor at Investor's Business Daily, joins Yahoo Finance's Myles Udland and Jared Blikre at the YFI Interactive touch screen to break down the price action in the Nasdaq Composite and ServiceNow.
The House Democrats will introduce two articles to initiate the formal impeachment proceedings against President Donald Trump on Tuesday, the Washington Post reported. The charges will focus on abuse of presidential power and obstruction of Congress, three officials close to the matter told the Washington Post. New York Representative (NY-D) Eliot Engel, also the Chairman of the House Foreign Affairs Committee, said that the specific articles would be announced at 9 a.m. on Tuesday, according to the Post.
The president of the Russian Federation, Vladimir Putin, on Monday protested the World Anti-Doping Agency’s decision to ban Russian athletes from competing in the Olympics and other major sporting events ...
Paul Volcker, former Federal Reserve chairman who curbed a decade of high inflation and tightened the reins on commercial banks after the 2008 financial collapse, died Monday at 92. Volcker got his start in the Treasury Department during the Kennedy, Johnson and Nixon administrations. There, he fought and failed to maintain the international monetary system created by the Bretton Woods agreement.
Responding to North Korea's latest “successful test of great significance,” President Donald Trump said on Sunday that if Kim Jong Un continues to act “in a hostile way,” he could lose “everything,” according to CNBC. The Korean Central News Agency (KCNA) earlier reported that the country had conducted a “very important” test at its Sohae satellite launch site on Dec. 7, 2019.
A growing number of active equity funds hold small numbers of stocks, but these are lagging both the market and more diversified funds.
Last year was an exception when the stock market plunged in December. • The left-most point on the chart shows a rise, similar to the one happening now, in the stock market. • The right-most point shown on the chart is for the current stock market.
Price action, internal momentum and volume aren’t great, but that doesn’t matter when the president wields his baton.
Democratic presidential candidates, including Joe Biden, Elizabeth Warren and Bernie Sanders, have proposed a new tax on financial transactions. Sanders is proposing an even more aggressive 0.5% tax on stock trades 0.1% tax on bond trades and 0.005% tax on derivative trades. This week, Biden said he would support new taxes on financial transactions.
While equities reeled early in the week, President Donald Trump declared, “I don’t watch the stock market,” contrary to his many tweets touting records set by the major indexes since he has been in the White House. “Jobs are what I watch,” he added, quite presciently, as it turned out, when the Department of Labor on Friday morning delivered boffo employment numbers for November. The headline unemployment rate ticked down a tenth, to 3.5%, the result of a rather tepid 83,000 increase in the separate survey of households and a smaller, 40,000 rise in the labor force.
On Friday, the Invesco QQQ Trust (QQQ) was up 1.1%, SPDR Dow Jones Industrial Average ETF (DIA) gained 1.2% and SPDR S&P 500 ETF (SPY) rose 1.0%. Markets strengthened after the Labor Department revealed employers added 266,000 jobs over November and unemployment matched a half-century low of 3.5% compared to estimates of a 187,000 rise and unemployment rate of 3.6%, fueling optimism that the U.S. economy is still holding up and consumers could continue to support growth ahead, the Wall Street Journal reports.
With the end of the year and the decade fast-approaching, Wall Street strategists have begun to deliver their expectations about where the stock market will close out 2020.
Stocks jumped Friday after the Labor Department’s November jobs report handily topped expectations. Treasury yields rose and gold prices sharply declined, as the latest sign of strength in the U.S. economy spurred risk-on trades.
Massive injections of liquidity from central banks are raising stock prices and lowering volatility, despite weak fundamentals. A reversal is likely.