|Day's range||26,020.06 - 26,215.84|
|52-week range||21,712.53 - 27,398.68|
Investors have been convinced that a friendly Fed or a U.S.-China trade deal will be the market's saving grace. But Morgan Stanley's Mike Wilson thinks that magical thinking has come to an end.
Investors await commentary from Federal Reserve Chair Jerome Powell this week at the annual Jackson Hole conference on Friday.
After the three main Wall Street indexes racked up their third straight weekly loss despite Friday's bounce, investors will weigh trade risks and signs of slowing growth against the potential for more action from the U.S. Federal Reserve and others in September. The focus this week will be on Wednesday's release of minutes from the Fed's July policy meeting, when the central bank cut rates for the first time in more than a decade, and Chair Jerome Powell's speech in Jackson Hole on Friday. "Everything is up because the Street is expecting Fed Chairman Powell to push for an additional cut when he addresses bankers in Jackson Hole," said Peter Kenny of Kenny's Commentary LLC and Strategic Board Solutions LLC in New York.
Stocks retraced some of their recent declines on Friday, as investors’ sentiment improved following bouncing off the short-term support level, economic data releases. The S&P; 500 index continues to trade within a consolidation. Is this a bottoming pattern or just a flat correction before another leg down?
Investing.com -- U.S. stocks surged at the start of the new week, with the Dow Jones rising nearly 300 points as the federal government signaled more soft-pedaling on the trade war with China for the time being.
Based on Friday’s price action and the close at 25907, the direction of the September E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to the main 50% level at 26012.
San Francisco is home to hot IPOs like Uber, Lyft, Slack and Pinterest. Big swings in the stock market get less attention than sizeable moves with any of the cities biggest publicly traded names.
The yield curve inversion had markets tumbling amid concerns of a coming recession, but what is a "yield curve" and how (and/or why) does it invert?
On a day stocks bounced back, NVIDIA shares rose after the company reported a strong quarter, as did those of Deere despite challenges in the agricultural industry.
U.S. and European stocks surged on Friday on expectations the European Central Bank will cut interest rates but the dollar pared gains against the euro after a report said the German government was prepared to take on new debt to lift the economy. The dollar hit a two-week high against the euro as expectations of ECB stimulus weighed on the single currency and bullish data showing a jump in U.S. homebuilding permits to a seven-month high also helped lift the greenback. The euro rebounded to pare most losses after Der Spiegel magazine said the German government would be prepared to ditch its balanced budget rule and take on new debt to counter a possible recession.
Plunging Treasury bond yields spooked a lot of investors this past week, especially after the yield on the 10-year Treasury briefly fell below that of the 2-year for the first time in more than a decade. That so-called inverted yield curve has preceded each of the last seven recessions. But Scott Ladner, chief investment officer at Horizon Investments, tells Yahoo Finance that the U.S. stock market shouldn’t necessarily be taking its cue from the bond market right now. That’s because about $17 trillion of government bonds worldwide are trading at negative yields, according to Bloomberg.
Investing.com - Stocks rallied Friday, finishing near their highs for the day, as trade tensions appeared to ease and reports suggested Germany might consider ideas to stimulate its faltering economy.
Liz Ann Sonders the chief investment strategist and a senior vice president at Charles Schwab & Co. is skeptical about a comprehensive trade deal.
Investing.com - Wall Street clawed back more of their midweek losses on Friday in the absence of fresh geopolitical shocks, but were still on course for a third straight weekly loss against the backdrop of a slowing global economy.
U.S. and European stocks surged on Friday on expectations the European Central Bank will cut interest rates but the dollar pared gains against the euro after a report said the German government was prepared to take on new debt to lift the economy. The dollar hit a two-week high against the euro as expectations of ECB stimulus weighed on the single currency and bullish data showing a jump in U.S. homebuilding permits to a seven-month high also helped lift the greenback. Borrowing costs had plumbed new lows throughout the week as investors unnerved by the prospect of European recession piled into safer assets.
The dollar recovered from early weakness but a gauge of world equity performance edged lower on Thursday as concerns about global growth offset investor optimism over a surge in U.S. retail sales last month and strong Walmart earnings. Gold prices, which have climbed almost 20% since late May on uncertainty driven by the U.S.-Sino trade spat and global growth concerns, edged higher amid concerns about a slowdown after China threatened to retaliate against the latest U.S. tariffs. Euro zone government bond yields went further into negative territory, reflecting concerns of an impending global recession after the U.S. yield curve remained inverted for a second day in a row.