Category Archives: News

Stocks Start Week Higher On Trade Deal Hopes

MONDAY – U.S. stock index futures rose on Monday on a report that U.S. and China are getting close to a trade deal.

This morning, the Dow Jones Industrial Average futures were up 65 points, indicating a gain of more than 70 points at the open. Futures on the S&P 500 and Nasdaq 100 were also slightly higher.

The Wall Street Journal reported that China had proposed to bring down duties on certain American goods in an attempt to strike a deal with the U.S. The same report suggested both countries are at the final stage of their negotiations, which could see the country’s leaders meeting at a special summit to sign a trade deal soon.

The Trump administration touted last week significant progress being made in U.S. negotiations with China. Treasury Secretary Steven Mnuchin told CNBC on Thursday the two sides were getting closer.

The back-and-forth on trade between the two countries has sent ripples through financial markets since last year, with investors fretting how tighter trade conditions could impact corporate profits.

On the economic front, there will be construction spending figures out at 10 a.m. ET.

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Stocks Start Higher, But Fall Again

FRIDAY – Stocks fell for a third consecutive day Friday, exacerbating a week-long equity exodus that has pushed the Nasdaq Composite Index into a bear market and put the S&P 500 on track for its worst December since the Great Depression. The Federal Reserve’s rate hike on Wednesday drove the losses and fears of an extended government shutdown only added to the pain on Friday.

The Dow Jones Industrial Average fell 150 points in turbulent trading that sent the blue-chip index up as much as 300 points earlier in the day, only to trade in negative territory less than one hour later. The initial tick upward came as Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the new year if the economy slows. But those gains slowly disappeared as investors used that short-term pop as a chance to sell more. The broader S&P 500 fell 1 percent on Friday, while the tech-heavy Nasdaq Composite shed 1.8 percent.

Technology stocks led the sell-off again on Friday as they have since September. Facebook lost 5.3 percent, Apple lost 2 percent and Amazon lost 4.8 percent on Friday.

The Fed currently is allowing $50 billion a month to run off its massive debt balance sheet as its securities mature, tightening financial conditions. The balance sheet is mostly a collection of bonds the central bank purchased to vitalize the economy during and after the financial crisis.

Equities fell to their lows of the day in the previous session after U.S. House of Representatives Speaker Paul Ryan announced that PresidentTrump would not sign a temporary government funding resolution without funding for a U.S.-Mexico border wall.

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Dow Up On Easing Trade Fears

WEDNESDAY – Stocks rose on Wednesday as investors awaited a key speech from the top Federal Reserve official, while hope that a U.S.-China trade truce could come lifted sentiment on Wall Street.

The Dow Jones Industrial Average climbed 200 points, led by gains in Boeing. The S&P 500 rose 0.5 percent as the technology sector gained around 1 percent. The Nasdaq Composite advanced 0.7 percent.

Fed Chair Jerome Powell is expected to speak at the Economic Club of New York. During the event, Powell is slated to talk about the Fed’s framework for monitoring financial stability. Investors are eagerly awaiting the speech as stocks have fallen in part because of fears the central bank may be tightening monetary policy too quickly.

Easing worries on U.S.-China trade also boosted stocks on Wednesday. A New York Times report said Trump was worried about the impact of a long trade war with China on markets and the economy. This could lead Trump to seek a compromise with China on trade, the Times said, citing U.S. officials.

Boeing shares rose more than 2 percent as trade worries eased. They also rose after Indonesia investigators said they are looking at a possible maintenance issue that could have led to the Lion Air crash last month.

Stocks also rose as beaten-down tech shares regained some of their losses. Facebook, Amazon, Apple, Netflix and Alphabet all rose.

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Dow Jumps 350 After Election Results Match Expectations

Stocks rose on Wednesday after the midterm election, lifting a cloud of uncertainty that was weighing on the market.

The major index averages hit their session highs after President Trump said he is willing to work with Democrats on policy initiatives that would help the economy keep growing.

The Dow Jones Industrial Average (^DJI) rose 350+ points, led by gains in UnitedHealth and Microsoft. The S&P 500 gained 1.5 percent as the health care and tech sectors both rallied more than 2 percent. The Nasdaq Composite rose 1.9 percent.

Trump said, “Hopefully we can all work together next year to continue delivering for the American people, including on economic growth, infrastructure, trade, lowering the cost of prescription drugs. The Democrats will come to us with a plan for infrastructure, a plan for healthcare, a plan for whatever they’re looking at and we’ll negotiate.”

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Stocks Rise Of Jobs News

Stocks rose on Friday on the back of stronger-than-expected employment data. Investors also shrugged off concerns over an escalating trade war between the U.S. and China.

The Dow Jones Industrial Average jumped 99.74 points to 24,456.48, with Apple and Microsoft outperforming. The S&P 500 closed 0.8 percent higher at 2,759.82, with health care rising 1.5 percent. The Nasdaq composite climbed 1.3 percent to 7,688.39 as the iShares Nasdaq Biotechnology ETF (IBB) surged 3.8 percent. Facebook rose to an all-time high, also boosting the Nasdaq.

The U.S. economy added 213,000 jobs in June, while economists polled by Reuters expected a gain of 195,000.

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Stocks Mixed On Huge Earnings Day

U.S. stocks traded mixed on Tuesday as one of the busiest days of the earnings season got under way.

The Dow Jones industrial average traded slightly lower, with Procter & Gamble contributing the most gains to the tune of 20 points, but Home Depot shaved off approximately 20 points. The S&P 500 fell 0.1 percent, with consumer discretionary leading decliners. The Nasdaq composite held around breakeven.

More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell. Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.

Coming Up:

Tuesday

Earnings:

ATB: Apple, AT&T, Chipotle Mexican Grill, Capital One, Discover Financial, Express Scripts, Juniper Networks, Vertex Pharma, iRobot, Pandora Media, Panera Bread, Owens-Illinois

9 a.m.: Case-Shiller Home Price Index

9 a.m.: FHFA Home Price Index

10 a.m.: Consumer confidence

1 p.m.: $26 billion two-year Treasury note auction

Wednesday

8:30 a.m.: U.S. trade deficit

9:45 a.m.: Markit services PMI

10 a.m.: New home sales

1 p.m.: $34 billion five-year Treasury note auction

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Stocks Lower After Data

MONDAY – U.S. stocks traded lower on Monday, the first trading day of the fourth quarter, as investors digested key economic news and kept an eye on oil prices.

The Dow Jones industrial average fell about 100 points in midmorning trade before holding about 50 points lower, with UnitedHealth contributing the most losses. The S&P 500 fell 0.25 percent, with real estate and utilities leading decliners, as both fell 1 percent. The Nasdaq composite slid approximately 0.1 percent.

In economic news, the September Markit Manufacturing PMI came in at 51.5, a three-month low. “U.S. manufacturers signalled another moderate upturn in both production volumes and incoming new work during September, but the latest survey indicated a further loss of growth momentum from July’s recent peak,” Markit said.

The ISM Manufacturing index for September came in at 51.5, up from 49.4 in the previous month. Construction spending fell 0.7 percent in August, with analysts expecting a 0.2 percent increase.

This Week:

Monday

Auto sales

Wednesday

8:15 a.m.: ADP payrolls
8:30 a.m.: Trade deficit
9:45 a.m.: Markit services PMI
10 a.m.: ISM non-manufacturing
10 a.m.: Factory orders

Thursday

8:30 a.m.: Jobless claims

Friday

8:30 a.m.: Employment report
10 a.m.: Wholesale trade
3 p.m.: Consumer credit

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A Few Tidbits To Start Your Tuesday

Gold gains as dollar dips amid Fed interest-rate uncertainty.  https://t.co/0r6MunEIFK

What to expect from the new Apple iPhone   https://t.co/KD6xDvOtgX

BA flyers are being delayed due to an IT glitch. Why system crashes are so hard to eliminate.  https://t.co/LPLyzqLVfk

What BRExit? Economists raise UK GDP forecasts.   https://t.co/fV5b0koW5A

 

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