|Day's range||2,717.59 - 2,727.36|
|52-week range||2,403.59 - 2,872.87|
If history is any guide, stock investors should not be afraid of the signals coming from the bond market, UBS strategists say. At least, not yet.
Crude oil prices declined more than 2.5 percent, or about $2 per barrel, after Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed prices to their highest since 2014. Shares of Exxon and Chevron both fell more than 2 percent, while service firms Schlumberger, Halliburton and producers Occidental Petroleum and ConocoPhillips were down between 3 percent and 4.2 percent. The main indexes ended only slightly lower on Thursday after recovering from what market participants said was a knee-jerk reaction to President Donald Trump cancelling a meeting with North Korea's Kim Jong Un.
The streaming company on Thursday closed with a market value of $151.8 billion, after earlier in the session passing Disney for the first time a day after it eclipsed Comcast. Disney is valued at $152.2 billion and Comcast $145.5 billion. Netflix shares added 1.3% in early trading Friday, putting it on pace to close above Disney for the first time ever.
The S&P 500 fell ~0.2% to 2,727.76 on May 24. The decline in crude oil prices and energy stocks pressured the S&P 500. On May 24, President Trump canceled the summit with North Korea scheduled on June 12, which also pressured the S&P 500. The meeting was canceled due to hostility from North Korea.
U.S. stocks mostly fell in early trading on Friday, with the energy sector leading the move lower on reports that the Organization of the Petroleum Exporting Countries major oil producer Russia were considering lifting some curbs on oil output, sparking a steep decline in crude prices. Ahead of a three-day weekend, with markets closed on Monday in observance of Memorial Day, investors were also looking ahead to remarks by Federal Reserve policy makers, including Fed Chairman Jerome Powell.
Earnings from two key retailers and more scuttlebutt around the North Korean situation made headlines early Friday, along with a drop in crude oil prices. Foot Locker shares rose 15% in pre-market trading after the company easily beat Wall Street analysts’ expectations, posting EPS of $1.45 vs. expectations of $1.24 per share. Foot Locker is a retailer that tends to draw traffic to its brick-and-mortar stores in this digital age and looks like it might be a nice turn-around story.
NEW YORK (AP) — Energy companies and oil prices are sinking again Friday morning on reports OPEC countries plan to produce more oil soon. Overall U.S. stocks are slightly lower again as falling bond yields put pressure on banks, even as they help dividend-payers like household goods makers. Gap is tumbling after it had a weak first quarter as its namesake brand continued to struggle.
The results are especially poor in midterm election years, as is 2018. The benchmark index’s performance is essentially flat over the month, with an average decline of 0.03%, according to the Almanac. Historical statistics paint a more positive picture for the Nasdaq Composite Index (^IXIC), which is currently the best-performing of the three major indexes in 2018.
In March and April, investors were "whipsawed" by large market moves in both directions, with "rarely-seen" levels of volatility, writes Sundial Capital Research's Jason Goepfert. "That’s what happens when a sector drops 17% within 4 months," wrote Goepfert.
Is Perry Ellis International (PERY) a great pick from the value investor's perspective right now? Read on to know more.
Let's see if Tailored Brands, Inc. (TLRD) stock is a good choice for value-oriented investors right now from multiple angles.
U.S. stocks opened slightly lower on Friday, as selling in energy shares weighed on the main indexes. The main benchmarks looked set to finish the week with modest gains, however. The Dow Jones Industrial ...
After regaining strength on May 23, the S&P 500 started Thursday on a mixed note and traded with mixed sentiment throughout the day. On Thursday, only four out of 11 major S&P 500 sectors closed the day higher. Strength in the utilities and industrials sectors limited the market losses.