|Day's range||2,984.68 - 3,016.37|
|52-week range||2,346.58 - 3,027.98|
World shares were mostly lower Monday as investors kept a wary eye on tensions with Iran and on prospects for a resolution of the tariffs war between China and the U.S. Britain's FTSE 100 gave up 0.3% to 7,323.15. Wall Street looked ready for a steady start, with the future contracts for both the Dow Jones Industrial average and the S&P 500 up 0.1%.
While some wait for a recession, others are watching for a potential jump in inflation that could derail any thoughts of future rate cuts by the Fed.
The surprise move by the Chinese delegation may have rattled investors but White House officials seemed to take it in stride. Furthermore, President Trump had no response on Twitter, which means the event has largely been dismissed.
Yesterday, Goldman Sachs' strategist warned of high volatility in October. Based on Goldman Sachs' data, since 1928 volatility in October is 25% higher.
The city of Flint, Michigan, has been on an economic roller-coaster ride for more than a century as the birthplace of General Motors. Workers have surrounded the massive GM complex for days, marching and toting signs and U.S. flags at plant entrances. WASHINGTON (AP) — President Donald Trump says he doesn't need to secure a trade deal with China before next year's election.
US stocks sank on Friday, closing the week in the red after an abruptly canceled visit by Chinese officials spooked investors on Wall Street. With no apparent explanation, Chinese agricultural officials on Friday scrapped hastily planned trips to farms in Montana and Nebraska and instead returned to China.
Based on the early price action and the current price at 3002.50, the direction of the December E-mini S&P; 500 Index into the close on Friday is likely to be determined by trader reaction to the 50% level at 3003.25 and the 50% level at 2992.25.
Skilled technical traders must be aware that price is setting up for a breakout or breakdown event with recent Doji, Hammer and other narrow range price bars. These types of Japanese Candlestick patterns are warnings that price is coiling into a tight range and the more we see them in a series, the more likely price is building up some type of explosive price breakout/breakdown move in the near future. The ES (S&P; 500 E-mini futures) chart is a perfect example of these types of price bars on the Daily chart (see below).
The S&P; 500 rallied a bit during the week but was relatively quiet as we are trying to break out to the upside. Adding more confusion to the mix is the fact that the Friday session was “quadruple witching.”
The US dollar drifted a little bit lower during the trading session against the Japanese yen on Friday, as the market looks a bit exhausted at this point. Beyond that though, a parabolic market does need to pull back.
Boston Fed President Eric Rosengren said he disagreed with the Fed's decision to lower rates on Wednesday because the U.S. economy appears healthy, instead worrying that leverage could build up in the system.
Wall Street closed out a volatile week with losses Friday as investors worried that upcoming trade talks aimed at resolving the costly trade war between Washington and Beijing could be in trouble. The benchmark index is still up 2.2% for September. The afternoon market slide came as investors reacted to published reports indicating Chinese officials canceled a planned trip to farms in Montana and Nebraska and would be returning to China.
US stocks were a little higher at the open on Friday, with major indices inching toward fresh records at the end of tumultuous week. Investors were mulling President Donald Trump's decision to exempt hundreds of goods from tariffs on Chinese imports in hopeful sign trade hostilities are easing ahead of negotiations expected next month. About 10 minutes into the day's trading, the blue-chip Dow Jones Industrial Average was up 0.3 percent at 27,168.90, nevertheless leaving it a little in the red for the week that featured a Federal Reserve interest rate cut and an attack on Saudi oil facilities.
St. Louis Fed President James Bullard said he would have preferred a 50 basis point cut in the Federal Reserve's meeting on Wednesday, saying trade risks and inflation warrant "aggressively" cutting rates.
Investing.com – Wall Street inched forward on Friday as traders monitored trade developments between the U.S. and China, while easing monetary policy around the globe increased hopes that central banks will help soften the blow from the drawn-out trade war.
US stocks pulled back after Chinese officials cancelled a visit to American farms, reigniting concerns over trade. The S&P 500 shed 0.5 per cent Friday, giving up morning gains as technology and industrial shares helped lead the sell-off. The tech-heavy Nasdaq Composite fell 0.8 per cent. The Dow Jones Industrial Average slipped 0.6 per cent.
Global stock markets traded in fairly narrow ranges on Friday at the end of a fairly eventful week that saw oil prices spike sharply after attacks on Saudi oil facilities and the Federal Reserve cut interest rates again. Coupled with the Fed's decision to cut rates again, the mood in stock markets has remained fairly positive, not least on Wall Street where both the Dow Jones industrial average and the broader S&P 500 index were not far off record highs. "It's been a bit of a strange week for equity markets, slipping back initially at the start on concerns that the sharp move higher in oil prices caused by last weekend's drone strike on Saudi Arabia's oil infrastructure might knock the stuffing out of the global economy in the coming weeks and months," said Michael Hewson, chief market analyst at CMC Markets.
Another flat day for US equities as the S&P; 500 Index closed little changed, as investors searched but failed to find a decent incentive to buy suggesting investors remain mildly disappointed by the latest round of central bank policy.
Wall Street will be looking out for a potential stock market high next week. The S&P 500 is just half a percent away from setting new records. Analysts, however, wonder how long the market can stay in record territory. Though a recent spate of economic data have turned up - lack of progress on the bruising U.S.-China trade war is keeping a lid on an upswing in business and investor sentiment. The clock is already ticking down to a Federal Reserve meeting in October, and the possibility that it could bring the third rate cut of the year. With a major split among policymakers about what should happen next, investors will be listening for clues from no less than ten Fed officials this week. Heading to the mic will be St. Louis Fed President James Bullard, who has argued for aggressive rate cuts, and Kansas City President Esther George, who wants to keep rates where they are. The week also comes with an update on the U.S. economy with a final revision to second-quarter GDP. The big earnings story next week comes from Nike. Investors will be scouring for clues on how America's numerous trade disputes are impacting the world's largest athletic gear maker. And there's also a quarterly update from Carnival. The main focus there: how much has the cruise ship operator been impacted by this year's Atlantic storm season, including the battering Hurricane Dorian delivered to the Bahamas - a Carnival island stop.