|Day's range||3,084.73 - 3,102.61|
|52-week range||2,346.58 - 3,102.61|
The Dow and S&P 500 turned negative Tuesday as investors digested public remarks from President Donald Trump on the U.S. economy.
US stocks ended mixed on Tuesday but the Nasdaq posted a new record even though investors still have not received clarity on an agreement to end the US-China trade war. Attention now will shift to back-to-back testimony Wednesday and Thursday by Federal Reserve Chairman Jerome Powell but it is unlikely he will do much beyond confirm the central bank is on hold for now. The highly-anticipated speech by President Donald Trump failed offer any positive news on US trade disputes with China or Europe.
The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier. The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. "There was some excitement on breaking 3,100, that perhaps we could continue higher on the S&P," said JJ Kinahan, chief market strategist at TD Ameritrade.
Investing.com - Stocks ended basically flat Tuesday as President Donald Trump's speech did not offer clues on when a China-U.S. trade deal will be signed.
Investing.com – Stocks were struggling to hold onto morning gains Tuesday even as President Donald Trump touted his administration's economy policy and hopes for a phase one trade deal.
US stocks were holding their collective breath at the open on Tuesday, poised for a speech by President Donald Trump that could offer clarity on US trade disputes with China and Europe. With a Wednesday deadline for deciding whether to impose tariffs on European cars, which would send US trade conflicts into a new dimension, and investors anxiously awaiting a deal with China, Trump's midday speech to the Economic Club of New York will be must-see TV. "The lack of conviction isn't so much due to a lack of news as it is due to the absence of news market participants are waiting on to be made," Briefing.com analyst Patrick J. O'Hare said.
The S&P 500 and Nasdaq hit all-time highs during trading but stocks ended off session highs after a highly anticipated midday speech from Trump, with investors concerned ahead of time about any comments that would worsen the tariff dispute that has convulsed markets for more than a year. Trump said U.S. and Chinese negotiators were "close" to a "phase one" trade deal, but largely repeated well-worn rhetoric about China's "cheating" on trade in remarks at The Economic Club of New York.
World stock markets rose Tuesday as investor awaited news on progress in negotiations on the trade dispute between China and the United States. An update could come later in the day, when U.S. President Donald Trump is scheduled to give a speech on trade and economic policy at the Economic Club of New York. Wall Street looked set for gains, with the futures for the Dow and the S&P 500 both up 0.1%.
Equity markets and government bond yields rose on Tuesday as investors awaited a speech by U.S. President Donald Trump on U.S. trade policy, in which he is expected to discuss talks with China and a tariff decision on European automakers. First, that there would be reassurances the China talks were progressing and second, that there would be a nod to overnight reports that a decision on European car tariffs would be delayed another six months. Overnight in Asia, MSCI's broadest measure of Asia-Pacific shares outside Japan climbed 0.5% while Japan's Nikkei ended 0.8% higher.
Investing.com – Wall Street was flat on Tuesday as investors waited for U.S. President Donald Trump to give more insight on resolving the 16-month long trade war with China.
FT subscribers can click here to receive Market Forces every day by email. US small-cap benchmarks, the Russell 2000 and S&P 600, remain about 8 per cent and 10 per cent respectively below their record peaks of 2018 and have lagged this year’s rebound for the S&P 500.
The Nasdaq climbed to a record high as investors kept watch for signs of progress in US-China trade talks and awaited congressional testimony from Jay Powell. US stocks maintained solid gains as Donald Trump made a speech at the Economic Club of New York in which he said a preliminary trade pact between the world’s two largest economies may be near. The Nasdaq Composite was up 0.3 per cent for a closing high.
on new factories and equipment by big US companies appears to have persisted through the third quarter of 2019, according to the latest round of earnings reports, which featured warnings from executives that budgets are likely to slow further in the final months of this year. Company executives have also indicated during earnings season that the pace of growth will slump to 1.8 per cent in the fourth quarter, underlining the shadow cast on boardrooms by trade wars and other global factors. “Corporate cash spending will continue to face pressure as management teams deal with persisting uncertainty,” David Kostin, chief US equity strategist for Goldman Sachs, said in a research note.
We ended Part I with this chart, below, comparing 2006-08 with 2018-19. Our intent was to highlight the new price high similarities as well as the price rotation similarities between the two critical peaks in market price.
US equities recovered well after a feeble start. Markets are struggling as investors struck a cautious chord after a run of not so convincing headlines from the US administration suggested last weeks optimism on the US-China trade talks might have been premature. But with the US market closed for Veterans day, there hasn’t been a lot of traffic overnight either.
Based on Monday’s price action and the close at 3087.50, the direction of the December E-mini S&P; 500 Index on Tuesday is likely to be determined by trader reaction to the pivot at 3080.00.
Wall Street was mostly lower Monday in a quiet holiday session, but Boeing's announcement on returning its 737 MAX to service after two deadly crashes provide a boost to the Dow. The aviation giant said it still hopes the Federal Aviation Administration (FAA) will allow it to resume MAX deliveries to airlines before the end of the year, and to approve the aircraft to begin flying in January. Boeing shares jumped 4.6 percent and that helped the Dow Jones Industrial Average recover from early losses to end the day a fraction higher at 27,691.49.
President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were "incorrect," only two days after a Chinese official said both sides agreed to rollbacks if talks progress. The Dow Jones Industrial Average edged up to another record, largely due to a big gain by Boeing.
China cast a shadow over trading on Wall Street Monday. Stocks fell after President Donald Trump said he'd only make a trade deal if it was right for America. The S&P 500 snapped a 3-day winning streak, but a jump in Boeing shares helped the Dow eke out a gain for another record close. Pence Wealth Management chief investment officer Dryden Pence: SOUNDBITE: PENCE WEALTH MANAGEMENT CHIEF INVESTMENT OFFICER DRYDEN PENCE (ENGLISH) SAYING: "Every time we get around these top these new highs, you get some increased volatility. And so I think we're going to see for the next several weeks these moments where the markets open lower or headlines will create some downward volatility and then fundamentals will push it back up." Chip makers like Micron Technology and Texas Instruments, which get a big chunk of their sales from China, dragged down tech stocks. Qualcomm weighed on the S&P 500 and Nasdaq after Morgan Stanley downgraded the chipmaker's shares to "equal-weight" from "overweight." Among the day's biggest gainers on the S&P 500: Boeing and Walgreens Boots Alliance. The planemaker said it expects to resume commercial service for its grounded 737 MAX jets in January. Walgreens got a lift after Bloomberg reported KKR has approached the drug store chain operator about a deal in what could be one of the largest leveraged buyouts.