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Investing.com - Stocks surged for a third-straight day on optimism about a U.S.- China trade deal and fewer worries about a recession hitting any time soon.
Usually, a headline like that would spell doom for stocks, but that wasn't the case Monday. Major U.S. equity benchmarks rallied even as President Donald Trump had some, shall I say, "words of encouragement" for the Federal Reserve."The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well," said the president on Twitter (NYSE:TWTR). "If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!"President Trump has a long history of moving markets via Twitter, but that wasn't necessarily the case Monday when it comes to the dollar, which he has long complained is too strong. The Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP), which tracks the greenback against a basket of other major currencies, closed modesty higher and just a third of a percent below its 52-week high. UUP is up about 2% this month, indicating Fed rate cuts aren't always the elixir to quell a strong dollar.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Cheap Dividend Stocks to Load Up On Despite the dollar firming again today, the plenty of export-sensitive sectors and individual names rallied, helping the Nasdaq Composite to a gain of 1.35% while the S&P 500 added 1.21%. The Dow Jones Industrial Average started the week higher by 0.96% with just two of its 30 components finishing lower on the day. Be Careful With These Dow WinnersTwo of the best performers in the Dow today may require some caution. Sure, it was nice to see Cisco Systems (NASDAQ:CSCO) rally after the network gear maker was drubbed last week following disappointing guidance on its earnings call, but Monday's bounce may be one of the dead cat variety.Similar caution may be warranted with chemicals maker Dow (NYSE:DOW), which was the second-best Dow stock today behind Cisco. Again, it's nice to see a cyclical, tariff-sensitive name in the green today, but the stock was downgraded last Friday to "neutral" by Bank of America Merrill Lynch with that bank also paring its price target on Dow shares to $44 from $55.Of the 17 analysts rating shares of Dow, just six have "buy" ratings on the name while 11 have the equivalent of a "hold" on the stock. DJIA Earnings NoteI've been mentioning The Home Depot (NYSE:HD) recently because the company reports earnings tomorrow, and today's gain of 2.11% suggests trades were buying the name in advance of that report. There was some elevated options activity in Home Depot today, too, but history suggest traders should be careful with the home improvement giant post-earnings."Looking into HD's earnings history, the stock has closed lower the day after earnings in all but two of the past eight quarters, though the reaction to Home Depot's most recent report in May was positive," according to Schaeffer's Investment Research. "Over the past two years, the shares have swung an average of 1% the day after earnings, regardless of direction. This time around, the options market is pricing in a larger-than-usual 6% swing for Tuesday's trading." Some Good Dow NewsI've mentioned a few times this year that alternative energy stocks and ETFs are really weighing on the traditional energy sector, so with that in mind, it was nice to see Chevron (NYSE:CVX) jump 1.68% today on some bullish analyst chatter. Barclays started coverage of Chevron today with an "overweight" rating and a $145 price target. That price target implies significant upside from today's close just under $118."Chevron is well positioned to both return significant free cash flow to shareholders and fund its…compound annual growth rate guidance," according to the bank. Dow Jones Bottom LineIn addition to the aforementioned Twitter action by President Trump, today's upside was the product of familiar themes: expectations that more Fed rate cuts are coming and that the U.S. and China might be able to make some headway on the trade front.Speaking of the Fed, Chairman Jerome Powell speaks in Wyoming late this week, so it's safe to say all eyes and ears will be on that speech regarding rate cut clues.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Dow Jones Today: Trump's Twitter Targets the Fed … Again appeared first on InvestorPlace.
Stocks extended Friday's rally, rising more than 1% in a broad advance as the S&P; 500 crept closer to the 50-day moving average.
Golden State Warriors star Stephen Curry has made a significant contribution to establish Howard University's first NCAA Division-I golf programs. Curry, an avid golfer, was inspired by Howard senior and golfer Otis Ferguson IV after the two met earlier this year on a D.C. campus visit. Ferguson explained his failed efforts to establish a university golf program, according to a university release issued Monday.
Rating Action: Moody's assigns Baa2 rating to Juniper Networks' proposed debt issuance; outlook stable. Global Credit Research- 19 Aug 2019. New York, August 19, 2019-- Moody's Investors Service assigned ...
Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on...
U.S. sanctions against Chinese tech giant Huawei were suspended through Monday, Aug. 19. What the Trump administration does next has big implications.
US companies are watering down their spending plans as the threat of slowing global growth and the trade war sap business confidence. Capital expenditure, or capex, is set to grow 3.5 per cent this year, a sharp drop from the 4.2 per cent anticipated just four months ago, according to Citi analysts. “Capex has been one of the biggest concerns about the state of the economy,” said Max Gokhman, head of asset allocation for Pacific Life Fund Advisors.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included tech leaders and a retail colossus. Bearish calls also included tech giants, as well as ...
Cisco Systems Inc.’s weak forecast for the current quarter is weighing on the networking giant’s shares, and some see further pain in store.
The stock market fell in volatile fashion amid China trade news and the first inverted yield curve since 2007. Walmart, Cisco, Macy's, GE were big movers.
The ongoing trade war with China is having an impact on Triangle companies. Michael Walden, North Carolina State University professor and economist, says the tariff situation has created a headwind that’s likely responsible for shaving 0.6 percentage points off GDP growth. “While businesses can ultimately obtain products from sources other than China, changing supply chains takes a while,” he says.
Robbins told investors the Chinese market was “certainly not a major play for us, but it has just dropped precipitously in light of the trade discussions.”