|Day's range||3,318.86 - 3,329.88|
|52-week range||2,612.86 - 3,329.88|
It's time investors book some profits on big cap tech stocks, says wealth manager Ken Kamen of Mercadien Asset Management. He suggests investors rotate the proceeds into equal-weighted index funds or financial and industrial stocks.
Reports from Netflix, Intel and Texas Instruments next week may hint at what is to come in the December quarterly earnings season, with some investors wary of possible danger signs that could knock Wall Street after its latest surge to record highs. The S&P 500 has gotten off to a strong start in January, up 3% so far this year, fueled by a truce in the U.S.-China trade war, low interest rates and signs the economy remains healthy. Analysts on average expect reports to show S&P 500 earnings per share fell 0.8% in the fourth quarter, with technology earnings seen up 0.6%, according to IBES data from Refinitiv.
Given the current chart pattern and the close at 3325.00, the direction of the March E-mini S&P; 500 Index on Monday is likely to be determined by trader reaction to Friday’s close. Taking out 3330.25 then closing lower for the session will form a closing price reversal top.
The search engine joined technology peers Apple, Amazon and Microsoft in crossing the prized market threshold, driven up by investors’ appetite for their shares. The broader stock market too has hit a record as valuations responded to the truce between the US and China on trade and surging profits from Wall Street banks.
The better-than-expected economic data demonstrated the resilience of the U.S. consumer in keeping the current economic expansion alive, and the solid corporate earnings from U.S. banks points toward the importance of the Fed holding interest rates at favorable price levels.
Reports from Netflix, Intel and Texas Instruments next week may hint at what is to come in the December quarterly earnings season, with some investors wary of possible danger signs that could knock Wall Street after its latest surge to record highs. The S&P 500 has gotten off to a strong start in January, up 3% so far this year, fuelled by a truce in the U.S.-China trade war, low interest rates and signs the economy remains healthy. Analysts on average expect reports to show S&P 500 earnings per share fell 0.8% in the fourth quarter, with technology earnings seen up 0.6%, according to IBES data from Refinitiv.
Wall Street stocks again finished at records on Friday, capping a positive week of trade-related news and mostly solid corporate earnings. The Dow Jones Industrial Average ended up 0.2 percent at 29,348.10. ...
S&P; 500 markets ground a bit higher during the trading session on Friday again, as the bullish pressure continues. Quite frankly, as long as the Federal Reserve is willing to play ball, the stock markets will continue to go higher.
The S&P; 500 rallied again during the week, breaking out to a fresh, new high. This continues the pattern that we have seen for so long, as the American stock market continues to attract inflows.
Wall Street capped a milestone-setting week Friday with a few more as modest gains nudged the major stock indexes to all-time highs. Technology stocks powered much of the market's broad gains, along with communication services companies and banks. Energy sector stocks were the only decliners.
A former Trump administration official says markets would prefer Joe Biden over more left wing Democrats who are running for president but that analysts and investors are overreacting.
Wall Street stocks added modestly to records early Friday following good US housing data and some better-than-expected Chinese economic reports. Construction of new US housing shot to a 13-year high last ...
The Nasdaq Composite added 0.34% to 9,388.94. For the week, the S&P 500 added 1.96%, the Dow rose 1.82% and the Nasdaq increased 2.29%. Advancing issues outnumbered declining ones on the NYSE by a 1.21-to-1 ratio; on Nasdaq, a 1.24-to-1 ratio favoured decliners.
President Donald Trump on Thursday officially nominated former economic adviser Judy Shelton and St. Louis Fed economist Christopher Waller to the remaining two seats at the Fed.
FT subscribers can click here to receive Market Forces every day by email. The top 10 music chart was a vital point of reference during my formative days (1980s) and this list was marked by a constant churn, with only rare moments of longstanding dominance by one particular song or album. Today, the so-called top 10 for equities is dominated by the “fabulous five” US technology titans, with China’s Alibaba and Tencent also in the mix.
US stocks traded at record levels and those in Europe also hit a new high on Friday after Chinese growth figures reassured investors over the relative health of the world’s second-largest economy. The region-wide Stoxx Europe 600 index rose 1 per cent for its fourth straight day of gains. Paris’s CAC 40 climbed 1 per cent, while Frankfurt’s trade sensitive Xetra Dax was 0.7 per cent higher.
The US dollar rallied during trading against the Japanese yen on Thursday, as we continue to break above the ¥110 level. However, it should be noted that there is a significant amount of resistance in this general vicinity, as denoted by the shooting star from Tuesday.