|Day's range||2,709.40 - 2,742.94|
|52-week range||2,405.70 - 2,872.87|
business confidence has been hurt by the prospect of a global trade war, but a couple major tailwinds are helping the United States stave off a crash ... for now.
Chip and Chinese internet stocks slammed amid expectations of new rules for Chinese investment and exportsNetflix was one of the tech stocks that saw a strong run higher turn around sharply Monday morning. Some of the hottest technology stocks on the market suffered a sudden reversal Monday morning, amid reports of new efforts to block Chinese investment in and sales to U.S. tech firms. While stocks were largely awash in red in early Monday trading, tech seemed especially weak, with the Nasdaq Composite Index (^IXIC) suffering more than the S&P 500 index (^GSPC) and the Dow Jones Industrial Average (^DJI).
A bearish chart pattern has materialized in gold, indicating that the embattled asset is likely to extend a recent downtrend that has dragged it to its lowest level in 2018, even as signs of global uncertainty have intensified.
MARKET PULSE The Nasdaq Composite Index late-morning Monday was on track for its worst one-day decline in about 11 weeks, as technology shares led losses following word that President Donald Trump was planning to bar Chinese firms from investing in U.
William Blair analyst Jason Ader wrote Monday that his conversations with a Nutanix Inc. (ntnx) channel partner indicate that this partner won a $45 million Air Force deal late last month. It "reflects the tremendous momentum that Nutanix is seeing in the federal vertical," he wrote.
FANG Stocks Are Hitting New Highs: Is It a Bullish Sign? In the previous part of this series, we discussed that the world’s two largest economies, the US (QQQ) and China, are imposing import tariffs on each other’s products. After two rounds of trade negotiation in May, the US (SPY) announced on June 18 that it will impose additional import tariffs on Chinese goods.
Wall Street opened lower and global stock markets sank on Monday as a trade dispute between the United States and other leading economies worsened, while U.S. Treasuries and other safer investments gained. ...
MetLife Inc. (met) has been charged with fraud by the Commonwealth of Massachusetts for failing to make pension payments to retirees that were wrongly designated as "presumed dead." A complaint filed by Secretary of the Commonwealth William Galvin alleges that public filings from the company contained "material misstatements" about the company's finances, because it was not making the pension payments. "Under these pension plans, MetLife was responsible for reserving enough money to make payments to Massachusetts pensioners, whose average age was 72," Galvin said in a statement.
Trade wars have brought fear back to the fore for U.S. equities -- and it’s showing up in volatility markets. An uncommon phenomenon resurfaced amid Monday’s sell-off, which has driven the S&P 500 Index down as much as 1.3 percent this morning: The futures contract on the Cboe Volatility Index maturing in August is trading lower than the one maturing in July, in defiance of the common positive spread between front- and second-month contracts. Spot VIX, which measures the implied volatility of the S&P 500 Index over the next month, hit as high as 16.9 Monday, almost four points higher than its average in the past year.
MARKET PULSE The largest exchange-traded fund to track Turkey's equity market plummeted on Monday, after President Recep Tayyip Erdogan won reelection, in what was seen as an endorsement of his authoritarian model of government.
MARKET PULSE Shares of Cirrus Logic Inc. (crus) are up 8.5% in Monday trading after Susquehanna analyst Christopher Rolland said that the company will have its products in the second-generation Apple Inc.
The Dow Jones Industrial Average was trading sharply lower early Monday and on track to finish below its closely watched long-term moving average, which could herald more pain for the blue-chip gauge. The Dow (DJIA) most recently, was down about 312 points, or 1.2%, at 24,261. If the Dow ends beneath 24,280.25, it's 200-day moving average, it would represent the first slide below that level since early May and the Dow hasn't close below its long--term trend line since the summer of 2016, according to FactSet data.
Last week (ended June 22), the broader market continued to trade on a mixed note, and the S&P 500 fell 0.9%. In the past few weeks, US trade tension with China, the European Union, and Canada has escalated after Donald Trump imposed new tariffs, which may be why auto stocks have underperformed the broader market. Let’s take a closer look.