Tag Archives: Dow Industrials

Stocks Start Week Flat

MONDAY – Stocks were steady Monday morning as a week filled with key economic reports kicked off, and investors continue to keep a close eye on the Fed’s planned interest rate hikes.

Parts of The Treasury yield curve inverted on Monday, raising some recession concerns. Earlier on Monday, the yield on the 5-year Treasury note rose to 2.6361%, while the 30-year yield was down less than 1 basis point to 2.6004%.

However, the main yield spread that traders watch — the spread between the 2-year and the 10-year rate — remained positive for now.

The Dow and S&P 500 rose on Friday to close out their second consecutive winning week. The Dow gained 153 points, or 0.4%. The S&P 500 advanced 0.5% and has more than erased its losses since Russia invaded Ukraine in late February. Meanwhile, the Nasdaq Composite dipped 0.2% but still finished the week in the green.

The moves came as investors continue to monitor developments in Russia’s war on Ukraine and expectations about the Fed’s plans to hike interest rates.

Investors are looking forward to the Job Openings and Labor Turnover Survey, or JOLTS, this week. The JOLTS report is one set of employment data that the Federal Reserve is watching closely as it tightens monetary policy.

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Stocks Try To End Positive Week On A High Note

HTML clipboard FRIDAY – U.S. stocks rose slightly Friday morning as the S&P 500 looked to close out its second consecutive positive week.

The move comes after a solid session for stocks on Wednesday in which the S&P rose 1.4%, the Nasdaq Composite gained 1.9% and the Dow added 349 points.

For the week, the S&P 500 and Nasdaq are up 1.3% and 2.1%, respectively. Both are on track for their second-straight winning week. The Dow is down marginally week to date.

The rebound has come even as the war in Ukraine continues and the Federal Reserve is set to hike interest rates several more times this year.

Traders are keeping an eye on Europe as the Ukraine-Russia continues. The European Union on Friday struck a gas deal with the U.S. in an effort to reduce its dependency on Russian energy.

The news comes after President Joe Biden said Thursday at a NATO summit in Brussels that the U.S. would respond if Russia used chemical weapons in Ukraine.

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Stocks Start Lower On Economic Concerns

THURSDAY – U.S. stock index futures fell on Thursday morning as investors digested the Federal Reserve’s latest announcement on monetary policy as well as a sharp drop in Biogen shares.

At 7:48 a.m. ET, Dow Jones Industrial Average futures indicated a decline of 136 points at the open. Futures on the S&P 500 and Nasdaq 100 also fell.

The Dow closed lower on Wednesday after the Fed announced a more dovish policy. Jerome Powell, the Fed’s chair, said the central bank is forecasting no rate hikes in 2019, which is down from two hikes forecast earlier. U.S. Treasury yields fell on the news, which added pressure on certain stocks, including banks.

Rising rates are good for banks since they are able to lend out money to investors at a profitable rate of interest. Lower interest rates restrict the bank’s ability to make profits thus adding pressure on margins.

The central bank also lowered its growth outlook for the year and indicated it would end its balance-sheet reduction process by the end of September.

U.S.-China trade is also in focus for investors after mixed comments from the White House. President Donald Trump said Wednesday that Washington’s tariffs on Beijing could stay on for a “substantial period of time.”

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Stocks Wobble As Traders Await Fed

WEDNESDAY – U.S. stock indexes barely moved on Wednesday as shares of FedEx fell while investors awaited a policy decision by the Federal Reserve.

At 10:00 a.m. ET, Dow Jones Industrial Average was down just about 100 points. S&P 500 and Nasdaq 100 were also little changed.

Concerns over global growth and U.S.-China trade talks were also renewed to keep stock gains subdued.

Bloomberg News reported some U.S. officials are worried China could walk back on some concessions. However, The Wall Street Journal said U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin both plan to travel to Beijing next week for another round of negotiations with Chinese Vice Premier Liu He. These reports buffeted stocks on Tuesday.

The world’s two largest economies have imposed tariffs on billions of dollars’ worth of one another’s goods over the past year, battering financial markets and souring business and consumer sentiment.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, dipped 0.4 percent.

No economic data are expected on Wednesday, however, on the earnings front, General Mills is set to report its results before the bell and Williams-Sonoma will report after the bell.

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Stocks Rebound To Turn Positive Tuesday

Stocks started lower on Tuesday as investors digested the release of weaker-than-expected Home Depot earnings, mixed economic data and testimony from the top-ranked Federal Reserve official.

The Dow Jones Industrial Average traded just above even after falling more than 100 points earlier in the day. The S&P 500 climbed 0.1 percent while the Nasdaq Composite was also up slightly.

Strong consumer confidence numbers helped stocks rebound. The Conference Board said its consumer confidence index jumped to 131.4 in February, easily topping an estimate of 124. In January, consumer confidence was at 121.7.

Investors also digested testimony from Federal Reserve Chairman Jerome Powell to a U.S. Senate committee on Tuesday. In prepared remarks, Powell said the economy is “healthy” but that the Fed is also seeing “crosscurrents and conflicting signals.” It comes after the U.S. central bank adopted a more cautious stance on future interest rate hikes last month.

Stocks have been on a tear recently, with the Dow and Nasdaq rising a nine-week winning streak. The S&P 500 has risen for eight of the past nine weeks. Diminishing concerns over U.S.-China trade and tighter monetary policy have contributed to the sharp stock gains.

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Stock Market Higher on Positive Banking Earnings

U.S. equities rose on Friday as investors parsed through quarterly results from several big banks and economic data.

The Dow Jones industrial average rose more than 150 points before holding about 110 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose approximately 0.4 percent, with information technology and financials leading advancers.

The Nasdaq composite gained 0.4 percent.

JPMorgan Chase, Wells Fargo and Citigroup all posted better-than-expected quarterly results, beating estimates on both the top and bottom lines.

In economic news, U.S. retail sales rose 0.6 percent in September, matching expectations. Meanwhile, the Labor Department said its producer price index for final demand increased 0.3 percent after being unchanged in August.

Other data released Friday included business inventories, which rose 0.2 percent in August. Meanwhile, October consumer sentiment came in at 87.9, well below an estimate of 92, as concerns over the U.S. presidential election weighed.

Investors have been heavily scrutinizing U.S. economic data recently, trying to gauge the likelihood that the Federal Reserve raises interest rates later this year. According to the CME Group’s FedWatch tool, market expectations for a December rate hike are more than 60 percent.

The dollar rose 0.43 percent against a basket of currencies, with the euro near $1.099 and the yen around 104.18.

In oil markets, U.S. crude traded about 1 percent lower at $49.96 per barrel.

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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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US stocks fall following ECB rates decision

THURSDAY – U.S. stocks traded lower Thursday as investors digested the European Central Bank’s latest monetary policy decision and remarks made by its president, Mario Draghi.

The Dow Jones industrial average traded about 60 points lower, with Apple contributing the most losses.

The ECB kept interest rates unchanged and did not announce an extension of its quantitative easing program. Draghi said in a news conference the central bank did not discuss an extension of said program, but added the program will run until the end of next March or beyond, if necessary.

U.S. stock futures traded mostly flat after the ECB announced its decision, before holding lower.

Investors have been closely eyeing each data set, looking for clues about whether the Fed will raise interest rates in September. Market expectations for a rate hike in September were 18 percent, according to the CME Group’s FedWatch tool.

Coming Up:

Thursday

3:00 p.m. Consumer credit

Friday

7:45 a.m. Boston Fed President Eric Rosengren
10:00 a.m. Wholesale

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Stocks slightly higher; materials lead

THURSDAY – U.S. equities traded slightly higher Thursday, a day ahead of a key speech from Federal Reserve Chair Janet Yellen, and following the release of solid economic data.

The Dow Jones industrial average rose just 10 points, with Home Depot contributing the most losses. The S&P 500 rose about 0.15 percent, with materials leading. Investors also kept an eye on health care a day after posting its worst day since June 24.

The sector fell Wednesday after presidential candidate Hillary Clinton tweeted about Mylan’s price increases of the allergy drug EpiPen.

The three major indexes have held in a tight range recently amid low trading volume and a lack of volatility. On Wednesday, the S&P recorded its 33rd straight session without a 1 percent move on a closing basis.

Coming Up:

Thursday

Earnings: Autodesk, GameStop, Pure Storage, Splunk
1 p.m. $28 billion 7-year note auction

Friday

Earnings: Big Lots
Fed Chair Janet Yellen speaks at Jackson Hole, Wyoming
8:30 a.m. Real GDP Q2 (second); international trade
9:45 a.m. Services PMI
10 a.m. Consumer sentiment

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Stocks close mostly lower

U.S. equities closed mostly lower on Friday as investors digested disappointing economic data, following a record-setting day on Thursday.

Retail sales for July came in unchanged, with economists expecting a 0.4 percent increase. Meanwhile, the July reading of the producer price index showed a decline of 0.4 percent, as economists forecast a 0.1 percent gain.

The weak retail sales data were released a day after strong earnings from retail giants Macy’s and Kohl’s pointed to further strength for the overall U.S. consumer.

Excluding Thursday, U.S. stocks have traded in a very narrow range this week, with volatility hovering around multi-year lows. The CBOE Volatility index (VIX), widely considered the best gauge of fear in the market, traded about 1.4 percent lower, near 11.5. In afternoon trade Friday, Schwab’s Frederick said there were four calls on on the Vix for every put in the options market, which indicates investors think the index “can’t go much lower.”

Earlier on Friday, the S&P and the Nasdaq briefly traded in positive territory.

TheDow Jones industrial averagefell 37.05 points, or 0.2 percent, to close at 18,576.47, with DuPont leading decliners and ExxonMobil the top advancer.

TheS&P 500 closed 1.74 points lower, or 0.08 percent, at 2,184.05, with materials leading seven sectors lower and energy the biggest riser.

TheNasdaq rose 4.5 points, or 0.09 percent, to end at 5,232.89.

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