|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||38.62 - 40.06|
|52 Week Range||25.59 - 73.60|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.89%|
The list of notable departures from the White House grew Tuesday after President Donald Trump ousted Secretary of State Rex Tillerson, as first reported by The Washington Post . What Happened Trump asked ...
U.S. equity futures were trading notably in the red Wednesday morning after White House chief economic adviser Gary Cohn resigned from his post. What Happened Cohn was favorably viewed by investors as ...
President Trump’s tariff talk provides market bears the confidence and conviction to push equity markets sharply lower. In the case of the S&P 500 (^GSPC, SPY), that support was found at its 200 day moving average.
The S&P 500 Index (SPY) has officially undergone a correction in February. Panic selling triggered by increasing bond yields led to a correction of more than 10% for the S&P 500 Index. This would represent the first negative monthly close for the S&P 500 Index in 12 months.
The Conference Board uses the average weekly unemployment claims as a key constituent of its LEI (Leading Economic Index). An optimal level of employment is one of the key ingredients for a healthy economy, and rising unemployment is a red flag for the economy and could eventually lead to a recession. The Conference Board thus uses weekly claims data (instead of monthly non-farm payrolls) because weekly claims, when adjusted for seasonality, can provide a more accurate account of the underlying economic conditions.
Stocks slumped hard on Thursday reversing early session gains after President Trump surprised the world by announcing tariffs on imported steel and aluminum of 25% and 10%, respectively. Following tariffs on solar panels and washing machines, Trump’s trade posture is becoming increasingly hawkish. Trading partners aren’t happy, with Chinese officials warning that they were “seriously concerned” about the issue while European officials are threatening to retaliate.
In the end, the Dow Jones Industrial Average lost 1.5%, the S&P 500 lost 1.1%, the Nasdaq Composite lost 0.8% and the Russell 2000 lost 1.6%. There were 124 new lows on the NYSE vs. 41 new highs. Volume was heavy, with 4.1 billion shares trading on the NYSE.
Stocks succumbed to a nasty bought of selling pressure on Tuesday after new Federal Reserve chairman Jerome Powell sounded a hawkish note in his first appearance to Congress. This eclipsed the recent dovish commentary from other Fed officials in recent days — most notably, St. Louis Fed President Bullard and his reassurance that more bond buy stimulus would be used in the next recession. In the end, the Dow Jones Industrial Average lost 1.2%, the S&P 500 lost 1.3%, the Nasdaq Composite lost 1.2% and the Russell 2000 lost 1.4%.
The FOMC January meeting minutes were the most awaited event of the week, and the market reaction to their release was more than dramatic. The initial reaction to the FOMC minutes was as though the FOMC members were not hawkish enough, and this led to a spike in equities and the US dollar (UUP). Rising interest rates make borrowing expensive for companies.
The market is showing a healthy dose of fear regarding volatility and VIX and is still managing to rise. With VIX playing such an important role lately, this is an important development.
The last Federal Open Market Committee (or FOMC) meeting was on January 30 and January 31. At this meeting, the target range for the Federal Funds target rate was left unchanged at 1.3% to 1.5%. This decision by the members was made after assessing current economic conditions and the outlook for economic activity.
Based on historical data, E*TRADE says that investors should brace for some stock market weakness this Wednesday and Thursday.
Stock markets around the world have rebounded from the panic selling that rocked markets between January 26 and February 9. A sudden spike in volatility (over a 100% increase in the S&P 500 VIX) could have forced risk managers to rebalance their portfolios, leading to the sharp sell-off. Equity markets in the US recorded the best weekly gains since 2013.