72.68 -0.06 (-0.08%)
After hours: 6:31PM EDT
|Bid||72.74 x 1000|
|Ask||72.97 x 200|
|Day's Range||72.68 - 74.50|
|52 Week Range||63.55 - 80.96|
|PE Ratio (TTM)||326.23|
|Expense Ratio (net)||0.14%|
The FOMC’s (Federal Open Market Committee) March meeting concluded on Wednesday, March 21, 2018. The Fed decided to increase the federal funds rate by 0.25%. The increase in the interest rate seems to have been completely priced in, but the markets were eagerly awaiting the Fed’s dot plot and summary of economic projections.
In its March FOMC (Federal Open Market Committee) meeting, the Fed increased the Federal funds rate by 25 basis points and released the upgraded economic projections through the Summary of Economic Projections (or SEP) report. The report is released by the FOMC and contains the members’ projections for GDP growth, inflation (TIP), unemployment, and the policy interest rate.
US Class I railroads’ (XLI) intermodal segments compete directly with trucking (WERN) companies. In the last two years, shippers have been shying away from the rail intermodal for their shipping needs. During those times, shippers prefer trucking companies for medium to long-haul freight services.
The February 2018 Industrial Production Report was released by the Federal Reserve on March 16, 2018. The report indicated that industrial production had increased by 1.1% in February compared to its 0.3% decline in January. This was the fifth month of rising industrial production in the United States in the last six months.
U.S. manufacturers and industrial ETFs were retreating Wednesday as anxious investors worry over the fallout from the Trump administration’s imposed tariffs. The Industrial Select Sector SPDR (NYSEArca: ...
Speculation that the Trump Administration’s recently announced tariffs on imported aluminum and steel will spark a trade war is prompting some investors to depart exchange traded funds viewed as vulnerable ...
In the previous part of this series, we saw that Goldman Sachs’s David Kostin is optimistic on the US equity market and his firm is confident that the S&P 500 Index could see 14% earnings growth. On one hand, Kostin discussed President Trump’s protectionism approach and the rising interest rate.
In the week ended March 9, 2018, the S&P 500 index closed at 2,786.57, rising by 2.4% after President Donald Trump turned flexible with his tariffs, allowing concessions for Canada and Mexico. The decision to introduce tariffs unnerved markets and generated resistance from domestic and international trade bodies, and President Trump’s softened stance allayed any fears about a global trade war, resulting in the equity rally on March 8. All the sectors within the S&P 500 Index registered gains last week, with S&P 500 industrials (XLI) gaining close to 4.4% after the concessions for Canadian and Mexican steel (SLX) and aluminum imports were announced.
The latest report from the US Department of Commerce, which was released in December 2017, indicated that the United States is the largest steel importer in the world, and Canada is the largest source of imports of steel and aluminum into the United States. Other countries that are major exporters to the United States are the European Union, South Korea, Mexico, and Brazil.
Threats of inflation, faster-than-expected interest rates, and the possibility of a trade war are playing foul in the U.S. stock market. President Trump announced his plan to impose severe tariffs of 24% on steel imports and 10% on aluminum imports “for a long period of time.” This would result in higher prices for a wide range of products thereby hurting a number of industries and overall economic growth.
Financial markets across the globe received another jolt from the US president even before they could completely recover from the rise in volatility that was witnessed at the beginning of February. President Donald Trump seems to be working toward his promise to put America first, announcing that he will introduce tariffs of 25% and 10% on imports of steel and aluminum, respectively. President Trump said that US steel (SLX) and aluminum industry players such as Alcoa (AA) and Newmont Mining (NEM) need support to return to their past glory.
President Trump is reportedly considering $60 billion in tariffs on Chinese goods. Yahoo Finance’s Seana Smith, Andy Serwer, Dan Roberts and Brittany Jones-Cooper discuss potential backlash and how tariffs on China could hurt some US companies including Boeing.