|Bid||0.00 x 1000|
|Ask||0.00 x 1100|
|Day's Range||262.48 - 267.87|
|52 Week Range||252.92 - 293.94|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.00|
|Expense Ratio (net)||0.09%|
The U.S. stock market, as represented by the Dow Jones Industrial Average, was down 500 points Monday. Please click here for an annotated day chart of Apple (AAPL) stock. Please click here for Apple’s intraday chart.
As of yesterday, the S&P 500 benchmark (SPY) has dived 9.5% while the NASDAQ Composite Index (QQQ) and Dow Jones Industrial Average have lost 12.4% and 7.7%, respectively. Now let’s see what billionaire investor Paul Tudor Jones has to say about the stock market’s future. Yesterday, CNBC interviewed Paul Tudor Jones, a who came into the limelight after predicting a huge market sell-off in October 1987 and is now known as “Black Monday.” Jones said, “We probably are sitting on a big global credit bubble.
The U.S. stock markets took a hit Tuesday along with Americans' hope for bipartisanship in Washington after a meeting about a potential holiday season government shutdown between President Donald Trump, House Minority Leader Nancy Pelosi and Senate Minority Leader Chuck Schumer devolved into a heated argument on live TV. If Congress can't pass a funding bill by Dec. 21, a partial government shutdown will be triggered the week before Christmas. Trump has said he will not support any funding bill that does not prioritize “border security,” specifically designating $5 billion in spending toward the construction of the wall.
Will Apple's Falling Stock Encourage Warren Buffet to Buy More? Over the last couple of months, Apple (AAPL) has been surrounded by a storm of negativity with more and more analysts turning negative on the stock. Plus, Trump’s comments during an interview with The Washington Post, suggesting a 10% tariff on iPhones and MacBooks imported from China, worsened the situation for Apple.
Technically speaking, the S&P 500 has maintained significant support (2,581), punctuating a massive early-December downdraft, writes Michael Ashbaugh.
President Trump kept his promise of protecting US manufacturing jobs, especially in the steel industry (SPY). He imposed a 25% tariff on US steel imports in March. The tariffs were imposed after the Department of Commerce’s investigations under Section 232 of the Trade Expansion Act of 1962 found that steel imports were a threat to US national security.
The broader market started December 11 on a positive note, with the S&P 500 benchmark trading at a 1.3% rise as of 9:34 AM EST. Auto stocks are leading the stock market rally (QQQ) today. General Motors (GM), Ford Motor Company (F), and Fiat Chrysler Automobiles (FCAU) have risen 3.5%, 3.2%, and 2.5%, respectively.
A PPI headline of +0.1% for November was better than the -0.1% analysts had been expecting, though down from the unrevised +0.6% in October.
In the week that ended on November 30, US crude oil inventories were 6% higher than their five-year average—one percentage point less than in the previous week. Oil prices and the inventories spread usually move inversely.
On December 1, US (SPY) President Trump and Chinese (MCHI) (FXI) President Jinping discussed some issues during the G20 summit in Argentina. They discussed China’s trade practices, which have led to massive tariffs on $200 billion worth of imported goods from China. President Trump stated that he temporarily won’t increase the tariff on imported Chinese goods worth $200 billion. Previously, he decided to increase the tariff to 25% from 10% starting on January 1.
If you want an edge in investing, you need to look at money flows from the smart money and the momo crowd.
On December 10, US crude oil January futures fell 3.1% and settled at $51 per barrel. The Energy Select Sector SPDR ETF (XLE) fell 1.6% on the same day.
On December 10, 2018, Honeywell (HON) announced that it would deploy its GoDirect ground solution to Swissport International for five years. GoDirect ground services will be implemented across all of Swissport International’s global operations.
Apparently, President Trump isn’t happy with how the markets have reacted to the trade war truce. Concerns about China’s slowdown look more real with almost every new data point. Over the weekend, China released its November trade data.
Despite stumbling out of the gates, U.S. markets and stock ETFs could still pick up steam in the seasonally strong December month. Over the past month, the Invesco QQQ Trust (QQQ) decreased 8.1%, SPDR Dow Jones Industrial Average ETF (DIA) fell 6.5% and SPDR S&P 500 ETF (SPY) dropped 6.2%.
Between November 30 and December 7, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) fell 3.9%—the second-largest fall among major energy ETFs. A rise of 3.3% in US crude oil prices last week wasn’t sufficient to push the upstream energy space into positive territory.
On November 30–December 7, US equity indexes ended in the red. Last week, the S&P Mid-Cap 400 (IVOO), the S&P 500 (SPY), and the Dow Jones Industrial Average (DIA) fell 5.2%, 4.6%, and 4.5%, respectively. Energy stocks form ~5.1%, 5.9%, and 5.2%, respectively, of these equity indexes.
On December 7, the US 10-Year Treasury Constant Maturity Minus 3-Month Treasury Constant Maturity yield spread fell to ~45 basis points—a multiyear low. The contraction in the yield spread might be due to investors’ demand for a longer-dated maturity security than a shorter dated security. In the last three decades, when the yield spread turned negative, a recession started in the next year. Another contraction in the yield spread might be trouble for oil bulls. Oil is a growth-driven asset.