118.90 +0.05 (0.04%)
After hours: 7:41PM EDT
|Bid||118.66 x 1200|
|Ask||118.63 x 800|
|Day's Range||118.19 - 120.78|
|52 Week Range||80.03 - 130.24|
|Beta (5Y Monthly)||0.76|
|PE Ratio (TTM)||18.68|
|Earnings Date||Aug 19, 2020 - Aug 24, 2020|
|Forward Dividend & Yield||2.64 (2.21%)|
|Ex-Dividend Date||May 19, 2020|
|1y Target Est||128.97|
According to a report from RBC Capital Markets, the effects of the civil unrest is a “potentially negative development for stocks." Yahoo Finance's Sibile Marcellus joins The First Trade to discuss.
Here's why stocks continue to be in rally mode despite the horrors sweeping America right now.
U.S. stocks posted gains on Monday as signs of U.S. economic recovery helped offset jitters over increasingly violent social unrest amid an ongoing pandemic and rising U.S.-China tensions. Market leaders Facebook Inc, Apple Inc and Amazon.com provided the biggest lift to the S&P 500 and the Nasdaq, while Boeing Co gave the Dow its biggest boost. "Certainly the pace of the stock market recovery can't continue at the pace it has been," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago.
Amid the ongoing protests following George Floyd’s death, retailers are openly addressing racism and supporting change.
Wall Street stocks posted modest gains on Monday as signs suggesting the U.S. economy may be on the road to recovery helped soothe jitters over increasingly violent social unrest and rising U.S.-China tensions. Market leaders Apple Inc, Amazon.com and Facebook Inc provided the biggest lift to the S&P 500 and the Nasdaq, while Boeing Co provided the blue-chip Dow with its biggest boost.
Wall Street's major indexes rose on Monday as investors chose to look past violent protests across the country over racial inequality and focused more on economic data that bolstered views of a quick post-pandemic recovery. U.S. manufacturing activity eased off an 11-year low in May, an Institute for Supply Management (ISM) survey showed, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen.
U.S. stocks struggled for direction on Monday as investors weighed prospects of a post-pandemic economic recovery against protests across the country over race and an ongoing standoff between Washington and Beijing. U.S. manufacturing activity eased off an 11-year low in May, an Institute for Supply Management (ISM) survey showed, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen.
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U.S. stocks edged higher on Monday on prospects of a post-pandemic economic recovery, but the sentiment remained fragile amid protests across the country over race and an ongoing standoff between Washington and Beijing. U.S. manufacturing activity eased off an 11-year low in May, an Institute for Supply Management (ISM) survey showed, the strongest sign yet that the worst of the economic downturn was behind as businesses reopen. The three main indexes had opened lower as National Guard troops were deployed over the weekend in 15 states and Washington, D.C. in an attempt to quell a sixth night of violence that began with peaceful protests over the death of a black man, George Floyd, in police custody.
The death of African American George Floyd at the hands of a Minneapolis police officer has triggered protests in multiple U.S. cities. While mostly peaceful, demonstrations grew violent in some cities, promoting the deployment of the National Guard as some protestors set vehicles and buildings on fire, engaged in acts of vandalism and looted stores. U.S. Google & YouTube homepages said, "We stand in support of racial equality, and all those who search for it.""For those feeling grief, anger, sadness & fear, you are not alone," said CEO Sundar Pichai in a statement.
U.S. retailers large and small have closed some of their stores across the country because of disruptions caused by the widespread street protests over the police killing of George Floyd in Minneapolis.
Futures tracking the S&P 500 index were trading flat on Monday following a strong showing in May, as investors turned cautious after protests erupted across the country over race, and simmering tensions between Washington and Beijing heated up. National Guard troops were deployed in 15 states and Washington, D.C. on Sunday in an attempt to quell a sixth night of violence that began with peaceful protests over the death of a black man, George Floyd, in police custody.
The warehouse retailer does a lot of things well, but online retail hasn't traditionally been one of them.
U.S. stock index futures slipped on Monday following a strong showing in May, as investors turned cautious after violent protests across the country over race as well as simmering tensions between Washington and Beijing. National Guard troops were deployed in 15 states and Washington, D.C. on Sunday in an attempt to quell a sixth night of violence that began with peaceful protests over the death of a black man, George Floyd, in police custody. Target Corp and Walmart Inc shuttered stores, while Amazon.com Inc scaled back deliveries amid the unrest that included looting in many cities.
U.S. retail giants from Apple Inc. (AAPL) and Amazon.com Inc. (AMZN) to Target Corp. (TGT) are temporarily closing some of their stores and curtailing operations amid the violent nationwide protests following last week's death of George Floyd.Demonstrations in dozens of cities across the U.S., including New York and Chicago, have since turned violent leading in some places to looting and damage to a number of retail stores.Apple, which had just reopened about half of its U.S. stores after the coronavirus related shutdowns, said it has temporarily closed many of its stores to protect the safety of employees and customers. Target announced the temporary closure of 175 of its stores across the country, including 32 in Minneapolis. Amazon said it is scaling back deliveries in a number of cities including Chicago, Los Angeles and Portland.“Minneapolis is grieving for a reason,” Apple CEO Tim Cook wrote in a Twitter post. “To paraphrase Dr. King, the negative peace which is the absence of tension is no substitute for the positive peace which is the presence of justice. Justice is how we heal.”Apple shares have recovered all of this year’s losses after appreciating 42% since mid-March. The stock closed little changed on Friday trading at $317.94Four-star analyst Samik Chatterjee at J.P. Morgan sees more upside potential in the stock fueled by bullish prospects for the iPhone maker in India. Chatterjee last week bumped up the price target to $365 from $350 and maintained a Buy rating on the shares.The analyst contends that the launch of the iPhone SE should help Apple build its position in emerging markets, particularly in India. The "attractive value proposition" with iPhone SE can change the landscape for Apple, which has struggled to build a material presence in India, he added.“Our recent supply chain checks highlight key milestones relative to verification testing are on track for iPhone launches in September, in addition to no major component bottlenecks,” Chatterjee wrote in a note to investors. “Pre-order and shipping dates might differ modestly for certain models. Delay risks remain, but largely from incremental disruptions."Turning now to the rest of Wall Street, analysts mostly share Chatterjee’s bullish rating outlook on Apple’s stock. The Strong Buy consensus is backed up by 27 Buys with the rest split between 4 Holds and 1 Sell. However, following the recent rally, the $322.63 average price target indicates shares have limited upside potential in the coming year. (See Apple stock analysis on TipRanks).Related News: Logitech Shares Lifted In Pre-Market On Share Buyback Plan, 10% Dividend Boost Apple Snaps Up AI Startup Inductiv, As Analysts Boost PTs On Store Reopenings KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia More recent articles from Smarter Analyst: * Philips Gets FDA Emergency Use Nod For Monitors, Displays During Covid-19 Pandemic * National Instruments To Buy OptimalPlus In $365 Million Deal * 3 "Strong Buy" Penny Stocks That Could Go Boom * Free Version of WWE Network Now Available for Fans
Target Corp <TGT.N> and Walmart said on Sunday they shuttered stores across the United States as retailers already reeling from closures because of the coronavirus pandemic shut outlets amid protests that included looting in many U.S. cities. Protests turned violent in places including New York and Chicago following the death in Minneapolis of a black man, George Floyd, seen on video gasping for breath as a white police officer knelt on his neck. In Los Angeles, protests led to the looting of the Alexander McQueen clothing store on Rodeo Drive, and a Gucci store on the vaunted strip was marked with the graffiti slogan: "Eat the rich," according to local media reports.
Walmart stores suffer damage from the George Floyd protesting and looting in some cases.
Retail is in a brutal spot right now.
In November 2015, the shooting death of Jamar Clark by Minneapolis police touched off a debate on race and economic inequality that challenged the city's progressive image and led local corporate leaders to back efforts at better sharing the spoils of a booming Midwestern state. Five years later, the killing of George Floyd has reopened those wounds and highlighted a growing concern nationally: The last few years of economic growth saw gains for lower-income families, but any hope for a durable narrowing of economic gaps may have been short-circuited by the coronavirus pandemic and the subsequent economic crash falling heavily on minorities. Floyd's death in police custody in Minneapolis last week may have been a catalyst for an anger that has spawned protests nationwide, but it was in effect the third major shock to hit in as many months, said Tawanna Black, chief executive of Minnesota's Center for Economic Inclusion (CEI), a group that grew out of those corporate promises of five years ago.
Chris Versace, Tematica Research CIO joins Yahoo Finance to discuss the markets' reaction to violent protests across the country, the latest on U.S., China relations, the retail industry and more around Monday's opening bell.
On Monday morning, the markets are grappling with ongoing protests over the death of George Floyd in police custody. Chris Versace, Tematica Research CIO says, "we're just starting to put the pandemic in the rear view mirror, this could be another setback for recovery."