Tag Archives: Dow Jones Industrial Average

Stocks Rising Again On Trade Optimism

TUESDAY – Stocks were set to open higher on Tuesday, following a record close in the previous session, as investors grew more bullish on a potential U.S.-China trade deal as both sides consider more rollbacks on tariffs.

Futures on the Dow Jones Industrial Average rose 70 points and indicated a positive open of more than 58 points, while futures on the S&P 500 and Nasdaq Composite were also higher. Major averages are on track for a third straight positive session.

China is pushing President Donald Trump to remove more tariffs on about $125 billion worth of Chinese goods imposed in September as part of the “phase one” trade deal, Reuters reported Monday evening. A U.S. official told Reuters the fate of the Dec. 15 tariffs is being considered as part of negotiations.

Strong earnings, more promising economic data and optimism over a resolution on trade with China drove the Dow to all-time highs on Monday, following the S&P 500 and Nasdaq’s new records last week.

The Dow’s year-to-date gain now stands at around 18%, while the S&P 500 is up more than 22% and the Nasdaq more than 27% so far this year.

Traders will also have eyes on a raft of economic data Tuesday morning. September balance of trade, import and export figures are due for release at 9:30 a.m. ET before November Redbook data at 9:55 a.m. ET.

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Stocks Slide, But On Track For Positive Week

FRIDAY – Stocks traded lower on Friday amid weak overseas data, but remained on track to post solid weekly gains after the release of better-than-expected earnings.

The Dow Jones Industrial Average traded 97 points lower, or 0.4%. The S&P 500 pulled back 0.3% while the Nasdaq Composite declined by 0.5%.

More than 70 S&P 500 companies have reported calendar third-quarter earnings this week. Of those companies, 81% have posted better-than-expected results, FactSet data shows.

Weak data from China weighed down the market on Friday.

Still, concerns over the state of the global economy lingered. Overnight, China posted its weakest growth in nearly three decades, as the U.S.-China trade war hit demand at home and abroad. The world’s second-largest economy grew 6% in the third quarter, less than expected, and its weakest pace of expansion in over 27 years.

Sentiment around U.S.-China trade talks improved slightly this week, however. Larry Kudlow, director of the National Economic Council, told CNBC’s “Squawk Box” on Thursday there is “a lot of momentum” to get a deal done.

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Stocks Inch Higher To End Week

                                                                                                                                      FRIDAY – U.S. stock index futures indicated a higher open on Friday with Washington and Beijing set to resume key trade talks mid-October.

Any positive moves on Friday, however, would offset modest weekly losses for the major stock indexes. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite were all on track to finish the week lower before the bell Friday morning after snapping a three-week winning streak last week.

The optimism among traders Friday morning came with trade talks between the U.S. and China set to resume Oct. 10-11 in Washington, D.C., three people familiar with the discussions said. News of a scheduled meeting adds to the growing belief on Wall Street that the trade war between the two economic superpowers has eased in recent weeks.

U.S. consumer spending slowed more than expected in August, according to a government report released Friday. Personal consumption expenditures, also known as household spending, edged up an adjusted 0.1% in August from July, when spending rose 0.5%.

The print represents consumer spending’s softest read since February and could suggest to policymakers that a critical driver of U.S. GDP growth could be set for deceleration. Consumer spending accounts for more than 66% of total economic output in the United States.

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Stock Futures Pare Losses

Stocks were set to edge lower on Wednesday, even after House Speaker Nancy Pelosi said she will launch a formal impeachment inquiry on President Donald Trump.

As of 7:09 a.m. ET Wednesday, Dow Jones Industrial Average futures implied a loss of more than 10 points at the open. S&P 500 and Nasdaq 100 futures also indicated slight opening losses.

On Tuesday, the S&P 500 and Nasdaq Composite posted their biggest one-day declines in a month in anticipation of the impeachment inquiry. The Dow Jones Industrial Average also dropped 142 points, or 0.5%.

Stocks have surged since Trump was elected as the administration has implemented policies such as tax cuts and decreased regulation. The Dow has surged more than 46% since Trump’s election. Stocks have previously struggled when a president faces the possibility of impeachment.

The S&P 500 was down about 20% at one point from its high in 1998 as independent counsel Kenneth Starr ramped up his investigation of President Bill Clinton for perjury and obstruction of justice, according to CFRA. The market bottomed as the House began impeachment proceedings and later recovered all losses to reach a then-record high.

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Mood turns cautious ahead of earnings season


MONDAY – U.S. stocks were lower Monday, with the market perhaps worried about what is likely to be a tougher earnings season.

At around 8:35 a.m. ET, Dow Jones Industrial Average futures indicated a negative open of more than 100 points. Futures on the S&P 500 and Nasdaq 100 were both marginally lower.

Market focus is largely attuned to corporate results, with major U.S. banks set to get the ball rolling later in the week.

Analysts have warned that the upcoming earnings season could be the first quarter of contracting corporate results since 2016.

J.P. Morgan Chase and Wells Fargo are both set to report their latest figures on Friday.

Before that, minutes from the Federal Reserve’s last meeting are due to be released on Wednesday.

Following the Fed’s most recent meeting in March, the central bank decided to maintain interest rates and hold off on any further increases this year.

On the data front, factory orders for February will be published at around 10 a.m. ET.

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Stocks Rise For Second Week

SUNDAY – Stocks posted their second weekly rise on Friday as stocks were boosted by better-than-expected jobs data and progress on the U.S.-China trade front.

The S&P 500 and Dow Jones Industrial Average both rose about 2% this week, while the Nasdaq Composite jumped 2.7%. On Friday, the S&P 500 and Nasdaq closed up by 0.5% and 0.6%, respectively.

Materials and financials were the best-performing sectors this week, rising 4.3% and 3.3%, respectively. Bank shares led the gains in financials. Morgan Stanley rose more than 6% this week, while Goldman Sachs, Bank of America and Citigroup all ended the week up more than 5%.

The U.S. economy added 196,000 jobs in March, according to data released on Friday by the Bureau of Labor Statistics. Economists polled by Dow Jones expected 175,000. The U.S. unemployment rate, meanwhile, remained at 3.8%. However, wage growth expanded 3.2% just below an expected gain of 3.4%.

Wall Street was looking forward to this report after the previous jobs data showed growth of just 20,000. That number was revised higher to 33,000 on Friday.

Friday’s strong jobs report comes after the release of disappointing economic data earlier in the week. Activity in the U.S. services sector fell to its lowest level since August 2017 while payrolls data released on Wednesday was also below expectations.

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Stocks Lower Wednesday While Waiting For Trade News

WEDNESDAY – Stocks fell on Wednesday as investors sought further indications that a trade deal between China and the U.S. could be reached in the near future.

The Dow Jones Industrial Average pulled back 75 points as Exxon Mobile and Walgreens Boots Alliance lagged. The S&P 500 dipped 0.4 percent, led by declines in energy and health care. The Nasdaq Composite declined 0.5 percent.

Stocks are off to a hot start this year, with the S&P 500 rising more than 11 percent through Tuesday’s close. Increasing expectations that a trade deal will get done have partly helped equities surge in 2019.

However, there is growing fear that an agreement may be fully priced in, possibly limiting any more gains from positive trade news.

Recently, the S&P 500 has had trouble making a significant break above 2,800, a key level being watched by investors. The broad index closed above that level on Friday, but fell back below it this week.

Meanwhile, the U.S. trade deficit increased to a 10-year high of $59.8 billion despite the administration’s efforts to reduce the number. Economists surveyed by Refinitiv expected the number to increase to $57.3 billion.

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