266.27 +2.20 (0.83%)
Pre-Market: 6:41AM EST
|Bid||265.95 x 1000|
|Ask||266.04 x 1000|
|Day's Range||258.62 - 265.16|
|52 Week Range||252.92 - 293.94|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.00|
|Expense Ratio (net)||0.09%|
If you want an edge in investing, you need to look at money flows from the smart money and the momo crowd.
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.
American tech giant Apple (AAPL) has been known for its innovative and quality products since its inception. In the latest blow to Apple, it seems to be losing its legal battle with popular chipmaker Qualcomm (QCOM) in China.
China is the world’s largest steel producer, consumer, and exporter. In this article, we’ll look at China’s November steel exports data and discuss its implications for steel stocks like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE). In November, China exported 5.3 million metric tons of steel products, a fall of 0.93% YoY.
Futures Jump on Brexit Vote Cancellation UK Prime Minister Theresa May all but admitted she does not have the votes to pass her Brexit deal through the British House of Commons by postponing the vote to a date yet to be decided. The Nasdaq and S&P 500 both jumped on the news, as it keeps […] The post Market Morning: Brexit Balk, Inflation Data, Tesla Swoops In On GM appeared first on Market Exclusive.
President Trump seems to be fixated on equity markets. On December 31, 2017, in response to a Fox Business article, Trump tweeted, “If the Dems (Crooked Hillary) got elected, your stocks would be down 50% from values on Election Day. Trump has always been quite quick to take credit for the stock market’s gains.
According to a report in the Wall Street Journal, President Trump is focused on stock markets and is contemplating the reasons behind the increased volatility lately. The S&P 500 (SPY), the Dow Jones Industrial Average (DIA), and the NASDAQ Composite (QQQ) fell by 4.4%, 4.4%, and 4.7%, respectively, last week.
The United States and China (FXI) have been involved in a bitter spat this year. While US-China trade relations have received all the attention as the two sides have imposed duties on billions of dollars of each other’s goods (TSLA), the tussle has a political as well as diplomatic angle. The most recent flashpoint between the United States and China is over the arrest of Huawei CFO Meng Wanzhou in Canada.
Over the weekend, China released its trade data for November. First, China’s export and import growth were lower than expected in November at multimonth lows. To add to the gloom, China’s politically sensitive trade deficit with the US reached a new record in November.
China’s trade surplus with the US (SPY) has been hitting one record after another. In November, China’s (MCHI) trade surplus rose to $35.6 billion, which is a new record. While China’s exports to the US rose 9.8% YoY (year-over-year), the imports fell 25% YoY.
On December 6, US crude oil’s implied volatility was 48.1%, which was 1.5% above its 15-day average. You can see the inverse relationship between oil prices and oil’s implied volatility is in the following graph. Since reaching a 12-year low in February 2016, US crude oil active futures have risen 96.5%. Crude oil’s implied volatility has fallen 36% since February 11, 2016.