|Day's range||9,602.87 - 9,716.14|
|52-week range||6,631.42 - 9,838.37|
In this week's episode of Influencers, Yahoo Finance Editor-in-Chief Andy Serwer speaks with Koch Disruptive Technologies President, Chase Koch, about his venture capital endeavor and what the company is doing to push Koch Industries into the future.
Stocks struggled to cobble together a fifth straight day of gains as data showed new unemployment claims totaled another 1.877 million last week.
A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon. Less than three months after the rapid spread of the novel coronavirus spurred unprecedented lockdowns across the U.S., pushing the unemployment rate to levels not seen since the Great Depression, the Nasdaq 100 Index on Thursday broke through to reach a new intraday high. The Nasdaq Composite Index, nearly half of which is comprised of technology and communications firms, is still yet to crest such a high.
The May jobs report is expected to show another historic print in non-farm payroll losses alongside a surge in the unemployment rate to the highest level since the 1930s, extending the virus-related labor market devastation of the past few months.
The Zacks Analyst Blog Highlights: BJ's Wholesale Club, Perdoceo Education, DouYu International, Camping World and Peloton Interactive
Wall Street retreated on Thursday as investors hit the pause button in advance of Friday's jobs report, capping a four-day rally driven by rising economic sentiment. While all three major indexes were modestly lower, they have shown remarkable resilience since their March plunge, with the Nasdaq, the S&P 500 and the Dow now within 2%, 9% and 12% of their respective record highs reached in February. The Nasdaq 100 <.NDX> briefly breached its record closing high earlier in the session.
We have narrowed down our search to five S&P 500 stocks that popped more than 20% in the past month and still have upside.
Top news and what to watch in the markets on Thursday, June 4, 2020.
U.S. stock markets have been on a tear this week, with the Nasdaq Composite, the S&P 500, and the Dow Jones Industrial Average all close to overtaking their all-time highs reached in February. Markets have climbed a virtual wall of worry to head higher over the past several sessions, shrugging off sometimes violent mass protests across the United States over police brutality and racial inequality. At current levels, the tech-heavy Nasdaq is less than 2% away from its record high.
The near-term direction of the June E-mini NASDAQ-100 Index is likely to be determined by trader reaction to the all-time high at 9780.50.
The euro jumped to a 12-week high against the dollar on Thursday after another shot of European Central Bank stimulus to help economies slammed by the coronavirus pandemic, but world equity markets pulled in the reins after a strong seven-day run. The euro rallied for an eighth session after the ECB said it would increase the size of emergency bond purchases by 600 billion euros ($674 billion) to 1.35 trillion euros, more than the 500 billion-euro increase analysts had expected. A huge domestic support package from Germany also lifted the euro and briefly pushed European equities higher..
The stock market has been extremely volatile since the coronavirus pandemic began, and its recovery has been at least as impressive as its initial plunge in late February and March. The Nasdaq Composite (NASDAQINDEX: ^IXIC) has soared 40% from its March lows, and it's within just a couple of percentage points of a new all-time record high. Nasdaq stocks that have demonstrated an ability to thrive during the coronavirus crisis have gone a long way toward helping the index bounce back.
Wall Street rallied broadly on Wednesday with the Nasdaq approaching record highs as signs of an economic recovery from mandated shutdowns helped investors look beyond U.S. social unrest and pandemic worries. The S&P 500 and the Nasdaq each posted their fourth straight day of solid gains. The Nasdaq, the S&P 500 and the Dow have rebounded sharply from March lows hit as coronavirus-related lockdowns shocked the stock market, and they are now 1.4%, 7.8%, and 11.1%, respectively, away from overtaking all-time closing highs set in February.
Benchmarks closed higher on Tuesday as investors looked past civil unrest across major cities and focused on easing of coronavirus-led lockdown and signs of economic recovery.
Get caught up on where the market is right now -- and some of the factors that could shape where it's heading next.
Time and the luxury of patience are the individual investor's greatest advantages in the market, and strict adherence to distinctions between "value stocks" and "growth stocks" can lead to short-term thinking that hinders the pursuit of great deals. Berkshire Hathaway CEO Warren Buffett famously said that he'd rather own a wonderful company at a fair price than a fair company at a wonderful price. Buffett's incredible track record of stock-picking success is rooted in his understanding that long-term investing tends to create the best results, and this philosophy is at the heart of his oft-quoted bit of wisdom about great companies being superior to "cheap" companies.
Global equity markets rallied and the euro rose against the dollar on Wednesday, both for a seventh straight session, indicating strong risk appetite as easing lockdowns and hopes for more monetary stimulus boosted investor confidence. Gold prices extended losses as MSCI's all-country world index, a gauge of equity markets in 49 countries, surged to its highest since March 6, while Germany's benchmark 10-year Bund yield hit its highest since mid-April. The dollar slid to an 11-week low against a basket of currencies but strong equity gains set the tone of investor optimism, as leading bourses in Paris and Frankfurt rose more than 3% and the Dow rose 2% as Boeing shares surged.
Stocks rose, tracking advances in global equities as investors eyed stabilizing economic data alongside ongoing protests across the country, which spurred some concerns of a ramp-up in coronavirus cases following a deescalation in the outbreak.
(Bloomberg) -- U.S. stocks rose alongside equities in Europe and Asia amid new bouts of stimulus and positive economic signals as coronavirus lockdowns ease. The dollar slumped for a fourth consecutive day.Two shares rose on the S&P 500 Index for every one that fell, lifting the benchmark to its highest since March 4. Gunmakers extended rallies in the wake of President Donald Trump’s promise to deploy large numbers of troops if cities and states don’t act to contain violence from protests over police brutality.Stocks are hovering near their highest in three months as businesses reopen around the world and manufacturing gauges show economies stabilizing following coronavirus shutdowns. That’s despite a slew of risks still on the horizon, including tense U.S.-China relations that may jeopardize a hard-won trade deal. The sometimes violent demonstrations across U.S. cities over the killing by police of George Floyd, an unarmed black man, aren’t yet seen as a major drag on the economy and corporate profits.“Everyone who is assessing what they’re seeing on the news every night is recognizing things getting worse, and yet the markets are focusing on things that they believe are getting better,” said Brian Levitt, a global market strategist at Invesco. Coronavirus “cases have plateaued in aggregate and compressed in some of the hardest hit areas. Mobility is starting to pick up, reopenings are starting to pick up.”Stimulus hopes powered Europe’s Stoxx 600 to a 12-week high as Chancellor Angela Merkel sought to thrash out a second aid package for Germany. Oil gained as investors eyed a potential extension of record production curbs by OPEC+. Treasuries edged lower, while the pound gained on positive news in trade negotiations between Britain and the EU.Elsewhere, emerging-market stocks rallied alongside currencies. Australia’s dollar rose to its highest level since January. In Asia, Tokyo equity benchmarks outperformed.Here are some key events coming up:In Europe, the ECB is expected to top up its rescue program with an additional 500 billion euros of asset purchases at a meeting on Thursday. Anything less than an expansion would be a big shock, Bloomberg Economics said.The U.S. labor market report on Friday will probably show American unemployment soared to 19.6% in May, the highest since the 1930s.These are the main moves in markets:StocksThe S&P 500 Index rose 0.8% at the close of trading in New York for its third straight gain.The Stoxx Europe 600 Index advanced 1.6%.The MSCI Asia Pacific Index increased 1%.The MSCI Emerging Market Index gained 1.7%.CurrenciesThe Bloomberg Dollar Spot Index decreased 0.3%.The euro increased 0.3% to $1.1169.The British pound gained 0.4% to $1.2546.The Japanese yen weakened 1% to 108.66 per dollar.BondsThe yield on 10-year Treasuries rose two basis points to 0.68%.Germany’s 10-year yield declined one basis point to -0.42%.Britain’s 10-year yield fell one basis point to 0.22%.CommoditiesWest Texas Intermediate crude increased 4% to $36.84 a barrel.Gold fell 0.7% to $1,728.12 an ounce.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.
The Zacks Analyst Blog Highlights: Wingstop, Papa John's International, Ryanair, Darden Restaurants and Civeo
U.S. employers cut 2.76 million private payrolls in May, according to a report Wednesday from ADP, as the coronavirus pandemic weighed on domestic economic activity and the labor market for another month.