|Day's range||25,519.30 - 25,743.80|
|52-week range||18,213.65 - 29,568.57|
In this episode of Influencers, Hoover Institution Senior Fellow Niall Ferguson joins Yahoo Finance to weigh the policy decisions surrounding the pandemic and help us to put the crisis into perspective.
Apple's budget iPhone could be a big hit in India, and investors may be too optimistic about Disney's plans to reopen its parks.
Investors once again had to confront the difficult economic realities of the coronavirus pandemic, with 2.1 million more first-time claims for unemployment benefits weighing on market sentiment. For tech giant HP (NYSE: HPQ), the news wasn't as good as many investors had hoped.
Stocks were mixed Thursday morning amid a deluge of new economic data, much of which was still consistent with a contraction but at least signaled some stabilization after an initial slump in activity.
Boeing Co climbed 3.3%, the most among the 30 blue-chip Dow components, as the planemaker said it had resumed production of its 737 MAX passenger jet at its Washington plant, although at a "low rate". Healthcare and technology sectors rose 2% and 1%, respectively, topping the major S&P sectors trading higher. The S&P 500 has soared about 38% from its low hit in March as a restart in business activity after weeks of shutdown and massive amounts of stimulus measures to support the economy drove hopes of a recovery.
Now that all 50 states of the United States have reopened to some extent, the lure for stay-at-home stocks is waning, rather coronavirus laggards are now gaining..
Investing.com - U.S. stock markets have been in rally-mode this week, as Wall Street grows more optimistic about the economy reopening, despite uncertainty over the coronavirus pandemic and growing tensions between the U.S. and China.
Stocks rose Wednesday and pushed passed earlier concerns over increasingly tense U.S.-China relations, which had sent the S&P 500 and Nasdaq into negative territory earlier in the session.
Optimism surrounding the reopening of the U.S. economy appears to be the driving force, although it remains to be seen whether that optimism is warranted. Disney put forth plans to reopen some of its parks in July, while Boeing disclosed that it would layoff nearly 7,000 U.S. employees this week in a bid to cut costs. The pandemic has been a disaster for Disney, which relies on its parks for a significant portion of revenue and profits.
Nearly 40 million U.S. jobs lost to the coronavirus pandemic suggests that gold prices should be up. This was despite stocks on Wall Street, the alternative trade to gold, headed for a lower close on concerns that U.S. recovery from the pandemic may take longer than thought. U.S. gold futures for June settled down $30.20, or 1.7%, at $1,721.90 per ounce, snapping a second-day rise that came after last week’s one-month high above $1,760.
The June Dow Jones Industrial Average is trading inside the retracement zone at 23796 to 25144. These are the major levels.
President Donald Trump said the United States would react strongly if China imposes national security laws for Hong Kong in response to last year's often violent pro-democracy protests. Earlier, Secretary of State Mike Pompeo criticized Beijing's handling of the coronavirus outbreak, while a Chinese official said the country will not flinch from any escalation in tensions. "It seems like China is going to be used as a punching bag for the upcoming elections," said Bob Shea, CEO and co-chief investment officer at TrimTabs Asset Management in New York.
Global equities slid on Thursday on concerns about the long-term impact of the new coronavirus and resurgent U.S.-China tensions, though oil markets ignored those worries and marched to 2-1/2 month highs. European equities fell about 0.8%, while the S&P 500 and Nasdaq on Wall Street declined about the same. President Donald Trump warned the United States would react "very strongly" against China trying to gain more control over Hong Kong through new national security legislation.
The three major averages on Wall St notched their fourth gain in five sessions on Wednesday as investors again bet on a swift economic recovery from coronavirus-driven lockdowns and the potential for more stimulus measures from the Federal Reserve. The S&P 500 stands at a two-month high and was briefly above its 100-day moving average, a closely watched technical indicator that has acted as a resistance level. The Nasdaq finished at its highest close in three months and was less than 5% below record levels, as shares of Facebook Inc and Amazon.com Inc surged to all-time highs.
With an economic revival in motion despite the unfavorable circumstances so far, value stocks offer the much-needed stability to one's portfolio.
(Bloomberg) -- U.S. stocks fell for the first time in four sessions after reports circulated that Moderna Inc.’s vaccine study, which was credited in part for Monday’s rally, didn’t produce enough critical data to assess its success. Crude oil and Treasuries gained.The S&P 500 and Nasdaq Composite turned negative in the last hour of trading, while the Dow Jones Industrial Average extended its losses. Equities had fluctuated much of the day after optimism over the drug as a potential coronavirus vaccine sent the S&P up the most Monday in almost six weeks. Crude oil rose for a fourth day.“We’re going to continue to see volatility because every day the market’s taking any little piece of information it has about things and prices it in,” said Peter Mallouk, president and chief investment officer of Creative Planning. “Every day it’s taking every little piece of information and it’s instantly pricing it in. Everything else is a derivative of Covid-19 now.”Earlier, Federal Reserve Chairman Jerome Powell reiterated during a Senate hearing that the central bank is ready to use all the weapons in its arsenal to help the U.S. economy endure the coronavirus pandemic.The Stoxx Europe 600 Index retreated as investors showed little reaction to both news of a $546 billion recovery fund for the region and a surprise jump in German investor confidence. European government bonds were mixed. Sterling strengthened after the U.K. announced plans for 30 billion pounds ($37 billion) in tariff cuts after Brexit.Riskier assets had started the week on the front foot after the Moderna news fueled hopes for a coronavirus vaccine, but investors are struggling to maintain the optimism as they continue to monitor efforts to both contain the pandemic and restart economies.“A vaccine would be a bullish game changer, and stocks reacted accordingly,” Tom Essaye, author of “The Sevens Report” newsletter, wrote in a note. “But one day doesn’t make a sustainable move.”Headwinds remain for stocks, not least a deteriorating U.S.-China relationship. In a further sign of tightening scrutiny on capital flows to the Asian nation, Nasdaq is set to unveil new rules for initial public offerings including tougher accounting standards that will make it more difficult for some Chinese companies to list on the exchange.Asian equities rallied, tracking the big gains on Wall Street from a day earlier.These are some of the main moves in markets:For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.