|Day's range||8,144.63 - 8,245.78|
|52-week range||6,190.17 - 8,264.78|
If there is volatility, then it will likely remain centered around whether the Fed cuts 25 or 50-basis points. Some investors continue to say that the Fed must take the aggressive route because policymakers have to convince Wall Street that they are truly serious about providing the firepower needed to continue the current 10-year economic expansion.
Wall Street’s main stock indexes topped out and started their session-long retreat following a report that the Federal Reserve plans to cut interest rates by only a quarter percentage point at the end of the month.
Wall Street stocks finished a down week on a tepid note, falling after news of a tanker attack in the Middle East even as Boeing and oil-linked shares rallied. Stocks had been in positive territory through early afternoon, but fell decisively as Iran's Revolutionary Guards announced they had confiscated a British tanker in the strategic Strait of Hormuz -- a move that prompted swift criticism from the United States and Britain. The fall also roughly coincided with a Wall Street Journal report that the Federal Reserve is targeting a 25-basis point interest rate cut, rather than the larger 50-basis point cut that investors have thought might also be enacted.
St. Louis Fed President James Bullard said he would take the job of Fed chair if offered, but said he has not been called on to do so.
Wall Street's main indexes fell on Friday following a report that the Federal Reserve plans to cut interest rates by only a quarter-percentage point at the end of the month. The benchmark S&P 500 erased earlier marginal gains after a Wall Street Journal report on the Fed's plans. According to the report, while the U.S. central bank is not prepared to make a bigger 50-basis-point cut, it may make further rate cuts in the future given concerns about a decline in global economic growth and uncertainty about trade.
Global equities firm as rate cut hopes are stoked but traders are cautioned not to expect too much from the FOMC.
International investors have long shunned, or in their parlance, “underweighted” the UK, according to various surveys since 2016. Not only have many foreign investors turned their backs, they are in no mood to step back in and buy UK assets when the likelihood is high that they can only become cheaper in local currency terms.
The price of oil rose on Friday after the U.S. said it had destroyed an Iranian drone near the Persian Gulf, where a lot of the world's oil is shipped through. Stock markets were largely stable as investors monitor earnings and the ongoing trade talks between China and the U.S. Energy prices were ratcheted higher after U.S. President Donald said a U.S. warship had downed an Iranian drone that had been threatening.
Stocks in major Asia Pacific markets made strong gains on Friday, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease monetary policy more than expected.
The latest batch of results are providing a better picture of the economy after months of ups and downs in the market because of policy concerns and lingering trade disputes. "We've been watching the game and now we actually get to see the scorecard," said Brad McMillan, chief investment officer for Commonwealth Financial Network.
Earnings season is underway and corporate buybacks are set to boost earnings per share for S&P 500 companies.
U.S. stocks moved higher on Thursday after a slow start as comments from New York Fed President John Williams helped cement expectations for an interest rate cut from the U.S. central bank at the end of the month. Williams said that when rates and inflation are low, policymakers cannot afford to keep their "powder dry" and wait for potential economic problems to materialise. "He's toeing the party line at the Fed, basically implying that an insurance rate cut is the right thing to do for the economy at this point in time," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.
U.S. stocks turned positive in afternoon trading on Thursday as corporate earnings continue to roll in, with trade and growth concerns lingering in the background.
A gauge of global stocks advanced on Thursday, erasing declines on a late rally after comments from a U.S. Federal Reserve policymaker heightened expectations for a rate cut, while oil prices dropped on forecasts of rising output. In a speech read as a strong argument in favour of quick and aggressive action by the Fed to cut rates this month, New York Fed President John Williams said policymakers need to add stimulus early to deal with too-low inflation when rates are near zero. "In all the Fed speak we’ve had... it seems like the ones that are more interested in cutting are more visible," said Thomas Martin, senior portfolio manager at Globalt Investments in Atlanta, Georgia.
U.S. stock indexes fell on Wednesday as weak results from CSX Corp stoked concerns that the protracted trade war between the United States and China could hurt corporate earnings. shares tumbled 10.3%, their biggest one-day drop since 2008, after the rail freight company posted lower-than-expected quarterly profit and cut its full-year revenue forecast. Ongoing trade tensions have contributed to a decline in truck and rail freight volumes in the first half of 2019. The Federal Reserve's Beige Book, a compendium of anecdotes from U.S. businesses, also pointed to trade-related pressures on transportation and manufacturing companies.
Wall Street stocks were little changed early Wednesday following a trove of mixed earnings reports and data showing a drop in new home construction in the United States. Bank of America joined other large ...
Wall Street finished in the red on Wednesday following more subdued trading in global stock markets as investors digested a fresh batch of earnings and Donald Trump damped hopes of a swift resolution to trade talks with China. Wall Street’s S&P 500 shed 0.65 per cent to 2,984.42, slipping from record highs and notching its steepest one-day drop in three weeks. Industrials proved the biggest decliners, down 2.2 per cent, while energy fell 1.2 per cent. Those drops were only partially offset by a 0.4 per cent rise in utilities.