|Day's Range||19.35 - 19.35|
Crude oil prices jumped as Iran shot down a U.S. drone. The S&P 500 closed at a new all-time high, and gold prices skyrocketed.
Here's a look at Koch Industries and the owners, brothers Charles and David, that make up the second-richest family in America.
The BAML survey highlighted the fact that investors are very bearish on growth expectations. A net 50% of the respondents expect global growth to weaken over the next 12 months. A record number of investors said that the global economy was in the late cycle.
Bank of America Merrill Lynch conducted a survey that polled 230 global investors with $645 billion in total assets under management between June 7 and June 13. The asset allocation of fund managers implies recessionary conditions.
On June 20, US tech giant Apple (AAPL) saw its stock open on a bullish note. It posted a high of $200.61, up 1.4% from its previous session’s closing price. Earlier today, a sharp rally in large US companies, including Oracle (ORCL) and Apple, helped the S&P 500 Index (SPY) reach record highs.
These low-volatility and buy-write ETFs have been hovering around 52-week highs. Investors can hedge with these products as bearish sentiments are rife in the market.
This morning the US stock market opened on a strong bullish note after the Federal Reserve hinted at a cut in interest rates yesterday. Also, renewed US-China trade optimism helped the S&P 500 Index reach new heights today. The world’s two largest economies have started trade negotiations once again ahead of US President Donald Trump and Chinese President Xi Jinping’s meeting next week.
Iran’s Revolutionary Guard said Iranian forces shot down the unmanned drone, and the U.S. confirmed it, but the two countries disagree on where the incident took place and whether the drone was in or had been in Iranian airspace. The Guard said it shot down the drone in Iranian airspace over the coastal province of Hormozgan using a truck-based missile system, according to Iran’s Fars news agency. U.S. Central Command confirmed that the drone, a U.S. Navy Broad Area Maritime Surveillance (or BAMS-D) aircraft, was shot down by an Iranian surface-to-air missile system on Wednesday evening Eastern time, or early Thursday in Iran.
As the FOMC aggressively hinted at future rate cuts, the S&P 500 drifted higher and the 10-year Treasury yield hit a multi-year low.
The CME Group launched micro e-mini contracts for the S&P 500, Russell 2000, Dow Jones 30 and Nasdaq100 indices at a much lower cost than the existing e-mini futures.
Right now, the FOMC meeting is underway. Fed Chair Jerome Powell and company are likely deliberating about whether the economy has overheated, whether the trade war could linger, whether the job market has peaked, and how to push inflation up, among a host of other matters.
As the FOMC meeting progresses, markets seem cautious. After rising 0.97% yesterday on easing trade tensions and a growing tribe of rate cut hopefuls, the S&P 500 is trading on the sidelines today. Here's what a cut today could mean for these stocks.
US equity markets rallied yesterday, and the S&P 500 (SPY) gained almost 1.0%. Markets have now largely recouped their May losses. Along with the dovish stance taken by European Central Bank President Mario Draghi, positive comments on US-China trade talks lifted markets yesterday.
In June, the US market started on a positive note. There was optimism that the Fed would deliver some good news in its meeting this week. After the retail sales report last week, the economy breathed a sigh of relief.
Yesterday, President Donald Trump officially launched his 2020 reelection campaign in Florida. We're now more than halfway into his presidency, so the question now is whether President Trump has delivered on his 2016 promises.
If the Fed doesn't signal significant easing ahead, the markets could nosedive. Many analysts agree that the markets might be overpricing the Fed's rate cuts this year.
This afternoon, Fed Chair Jerome Powell is expected to give public remarks on the state of the U.S. economy, even though expectations are low he will be announcing a 25 basis-point interest rate cut.
We saw a sharp rally in US markets yesterday. The S&P 500 (SPY) gained almost 1.0%. European Central Bank President Mario Draghi hinted at more stimulus amid the region’s sagging economic growth. While the move lifted markets, President Trump wasn’t very happy.
Yesterday, the Dow Jones Industrial Average (DIA) settled near the 26,465 level with about 1.4% gains for the day. The index rallied after President Donald Trump said that he would be meeting President Xi Jinping next week on the sidelines of the G-20 Summit in Japan.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date. What Happened? In 1972, 11 athletes from Israel were murdered by an Arab gunman at the Munich Olympics. Five White House operatives were arrested for burglary in Washington as part of what would become known as the Watergate Scandal.