|Day's range||8,086.16 - 8,202.82|
|52-week range||6,190.17 - 8,339.64|
Yahoo Finance's Julie Hyman, Adam Shapiro, Brian Sozzi, Ramsey Smith Alex.fyi CEO and Ed Al-Hussainy - Columbia Threadneedle Investments Senior Interest Rate and Currency Analyst discuss market action.
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.
Fed Chairman Jerome Powell faces the tough task of corralling a committee dividing further on where rates should go next.
Thursday, investors can expect the weekly initial jobless claims figures, as well as existing home sales for the month of August.
President Donald Trump accused the central bank and Fed Chair Jerome Powell of having “no guts” for not meting out a more aggressive cut.
Investing.com - Stocks immediately fell after a divided Federal Reserve decided to cut interest rates by a quarter percentage point Wednesday. But losses were quickly being trimmed.
Contract talks between the United Auto Workers and General Motors showed some signs of progress as a strike by more than 49,000 employees extended into a second day. One of the main sticking points is health care. GM is looking to cut its costs, but workers say they shouldn't have to pay more because the company is making billions in profits.
A spike in oil prices and escalating trade tensions are among the many news developments weighing on the Federal Reserve as it announces its next policy-setting decision on Wednesday.
The S&P 500 energy , one of the worst performing sectors so far this year, soared 3.75%, on track for its largest one-day gain since December. Shares of Apache Corp , Marathon Oil Corp and Helmerich and Payne jumped between 12% and 18% and were the leading gainers on the S&P 500. Anticipation of higher fuel costs drove down shares of airlines and cruise line operators with the S&P 1500 airlines shedding 2.5%, while Carnival Corp fell 3.7%.
Outspoken former White House Communications Director Anthony Scaramucci claims the president is 'unhinged' and in 'steady decline.'
The S&P 500 ended the day down slightly on Friday but less than 1% below its all-time high as a drop in Apple stock countered cooling U.S.-China trade tensions. Tariff-vulnerable industrials helped keep the blue-chip Dow in positive territory, which has now gained in eight straight sessions, its longest winning streak since May 2018. All three major U.S. stock indexes posted their third straight weekly gains, capping a week that saw signs of a potential thaw in the trade war between the world's two largest economies, which has gripped markets for months.
Wall Street brushed off the ominous date and pushed higher at the open Friday, stoked by relief that President Donald Trump's trade war with China appears to be inching towards a resolution. China announced Friday it will exempt soybeans and pork from its retaliatory tariffs, a hugely symbolic move to appease Trump ahead of a new round of talks due next month. The broad-based S&P 500 is closing in on a record, rising 0.2 percent to 3,014.31, but the tech-rich Nasdaq Composite Index barely inched above Thursday's close to 8,200.94.
Global markets rise on trade hopes but new records for the indices and a trade deal may be elusive.
Paul Schatz, president of Heritage Capital, says investors aren't reacting to every twist and turn of U.S.-China trade war anymore.
Wall Street stocks finished higher Thursday after the European Central Bank announced new stimulus measures and as investors greeted further signs of moderation in the US-China trade war. The ECB moves bolstered expectations the US Federal Reserve will take another step to protect economic growth next week with a second interest rate cut. In a highly-anticipated move, the ECB cut a key interest rate deeper into negative territory, and announced new net purchases of government and corporate debt and support for struggling banks as outgoing chief Mario Draghi urged eurozone governments to spend more.
Wall Street stocks rose early Thursday after the European Central Bank announced new stimulus measures and amid further signs of moderation in the US-China trade war. The ECB cut a key interest rate deeper into negative territory, and announced new net purchases of government and corporate debt and support for struggling banks as outgoing chief Mario Draghi urged eurozone governments to spend more. The announcement came after President Donald Trump pushed back a round of tariff increases from October 1 to October 15 after China agreed to spare some US products from its retaliation.
Wall Street advanced on Thursday, and the S&P 500 ended the session within striking distance of its all-time closing high, buoyed by positive developments on the U.S.-China trade front and a promise of continued stimulus from the European Central Bank. Technology gains led the S&P 500 and the Nasdaq higher, while financials gave the biggest boost to the blue-chip Dow, which closed up for the seventh consecutive session, its longest winning streak since May. Stocks rose worldwide as China and the United States made concessions ahead of next month's planned talks in Washington, aimed at easing a trade war that has whipsawed markets and stoked recessionary fears for months.
Global markets rise on trade hopes and stimulus plans, the S&P; 500 is striking distance from new all-time highs.
The markets are currently pricing in a third rate cut for December, but higher CPI on top of the surprise jump in PPI, will raise doubts. If the FOMC feels that this third cut is unwarranted, then look for policymakers to address this in their statement. This will be the source of volatility next week and into the near future.