U.S. Daily Market Update
July 01, 2020
U.S. stocks rallied in the first session of July. The numbers implied in that the labor market continued to improve last month.
U.S. manufacturing activity entered into recovery in June. This is pointing out to its peak mark in more than a year as the broader economy reopened.
The Institute for Supply Management (ISM) said on Wednesday its index of national factory activity soared to a reading of 52.6 last month from 43.1 in May.
U.S. private payrolls gained less than predicted in June and employers reported additional 170,000 layoffs.
The ADP National Employment Report stated that private payrolls surged 2.369 million jobs last month. Data for May was revised an incline to show payrolls surging 3.065 million.
Fiat Chrysler Automobiles N.V. fell and reported that the second-quarter U.S. sales were 367,086 vehicles. This represents a downfall of 39% versus last year.
See also the Live ChartJanuary 28, 2020
January 27. 2020
January 24, 2020
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January 22, 2020
January 17, 2020
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January 16. 2020
January 15, 2020
January 14, 2020
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January 08, 2020
January 01, 2020
December 31, 2019
December 30, 2019
December 17, 2019
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December 13, 2019
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November 29, 2019
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November 06, 2019
U.S. stock indexes soared today after the S&P 500 marked its weakest session of the last four months.
The Dow Jones Industrial Average soared 58.48 points, or 0.20%, at the open to 28,594.28.
The S&P-500 gained 11.72 points, or 0.36%, at 3,255.35. The Nasdaq Composite inclined 62.51 points, or 0.68%, to 9,201.82 at the opening bell.
Home prices in 20 U.S. cities jumped in November at the fastest pattern of the last nine months.
As a matter of fact, the S&P CoreLogic Case-Shiller index of property values surged 2.6% from the same month the previous year.
Moreover, kome prices gained 0.5% from the previous month, coming above estimates. Prices are hottest in Phoenix, Charlotte and Tampa.
Phoenix home prices secured 5.9% year-over-year in November. U.S. consumer confidence rallied by more than prediction to a five-month high in January.
The Conference Board’s index soared 131.6 from a upwardly revised December reading of 128.2, according to published numbers.
See also the Live ChartJanuary 27. 2020
U.S. markets followed global markets lower Monday as investors worry the spread of the coronavirus is just beginning after China released data showing reported cases of the virus jumped by nearly 40% over the weekend.
The Nasdaq led the way lower as it fell 1.5%, while the S&P 500 and Dow Industrials each lost 1.2%. The small cap Russell 2000 held up best, losing just 0.7%. Response from U.S. markets was more muted compared with the more than 2% drop for most European markets.
U.S. markets are on track for their worst daily performance in three months, and many stocks have given back large parts of the gains made in 2020. Major indices are now at their lowest levels in two weeks.
Investor confidence was shaken by news out of China over the weekend. The government announced it was extending the Lunar New Year holiday and took additional measures to halt the spread of the virus. They also announced the number of confirmed cases of coronavirus in China is approaching 3,000, up from 2,100 this past Friday. The virus has already claimed 80 lives.
In the U.S. the Center for Disease Control confirmed the fifth case of coronavirus and continues monitoring 110 other individuals for potential coronavirus infections.
Also of concern was a report from China claiming 5 million people left Wuhan, the epicenter of the virus outbreak, before a quarantine and travel ban on the city was put in place.
In other markets gold rose to its highest close in more than six years, and crude fell more than 2% to around $53 a barrel.
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January 24, 2020
U.S. markets began Friday with gains, but after the U.S. Center for Disease Control confirmed a second case of coronavirus in the U.S. markets tanked, falling sharply with broad based losses.
By the end of the trading day the small cap Russell 2000 was the worst performing index as it fell 1.4%, while the S&P 500 and Nasdaq both lost 0.9%. The Dow Industrials was the best performing major U.S. index, but it still finished the day 0.6% lower.
The second coronavirus case in the U.S. was confirmed in Chicago, and was a woman who had recently returned from travel in Wuhan, China. The CDC continues to monitor 63 other possible coronavirus cases in the U.S.
Some analysts have recently been warning that an external event could spark a correction in the U.S. equity markets, which have continued making record highs throughout 2019 and into 2020.
With the Federal Reserve already pumping liquidity into markets to keep them both stable and elevated, the timing of the coronavirus outbreak could hardly be worse. With the increasing possibility of the virus outbreak becoming a global emergency, U.S. investors are faced with a risk off market and sliding stocks.
That risk off posture also hit crude again on Friday, with U.S. West Texas Intermediate falling 2.5% for a weekly loss of 7.5%. Crude traders are worried the spread of coronavirus will also hit the global economy, slowing demand for crude.
Gold is the one asset class benefitting from the current risk-off sentiment, with the yellow metal rising 0.4% on Friday to post a weekly gain of 0.7%.
See also the Live ChartJanuary 23, 2020
U.S. stock markets retreated as investors parsed earnings from some Dow components and watched travel and consumer good stocks for any impact from China’s struggles to contain the virus.
The Dow Jones Industrial Average lost 51.28 points, or 0.18%, to 29,134.99, the S&P-500 lost 0.93 points, or 0.03%, to 3,320.82.
The Nasdaq Composite gained 8.26 points, or 0.09%, to 9,392.03.
However, U.S. stocks entered into rising mode from early losses after the World Health Organization said it will not declare the coronavirus outbreak in China to be a global health emergency yet.
Comcast Corp (CMCSA.O) came above forecast but declined more subscribers than analysts predicted, sending its shares 3.6% to a lower side.
The number of officially unemployed Americans surged less than estimates last week, indicating in the labor market continues to tighten.
In fact, initial claims for state unemployment benefits jumped 6,000 to a seasonally adjusted 211,000 for the week ended Jan. 18, according to the the Labor Department.
See also the Live ChartJanuary 22, 2020
U.S. stocks advanced today with major benchmarks touching new intraday records, after Chinese promised to take all necessary action to contain a possible coronavirus pandemic.
The Dow Jones Industrial Average inclined 7 points, or 0.02%, at 29,196 midafternoon, while the S&P-500 partly moved and stands at 3,323.
The Nasdaq Composite Index gained 10 points or 0.5%, at 9,380.
Treasury yields partly dropped today as most traders and investors flocked back into risk assets. The yield on the benchmark 10-year Treasury note soared 1.7778%, while the yield on the 30-year Treasury bond rose to 2.2351%.
President Donald Trump announced that U.S. economic growth would have been closer to 4% in case no Federal Reserve rate hikes takes place.
Sales of previously owned U.S. homes rallied at the very end of 2019 to the best pace in nearly two years.
In fact, contract closings added 3.6% from the prior month to a 5.54 million annual rate, according to National Association of Realtors numbers.
January 17, 2020
Wall Street firms marked the largest rally to bond-trading revenue in years, resulting in several banks break records for annual profit.
Morgan Stanley announced a 126% advanced in fourth-quarter revenue to $1.27 billion.
At J.P. Morgan Chase, bond trading revenue jumped 86% to $3.4 billion.U.S. manufactuing output inclined last month as a retreat in motor vehicle output was outpaced by increases in production.
The Federal Reserve reported that manufacturing production added 0.2% last month after a downwardly revised 1.0% increase in November.
U.S. job openings dropped in November posting its bottom level in almost two years, indicating more employers see headcounts sufficient enough to meet demand.
The number of positions waiting to be filled lost 561,000 to 6.8 million, the weakest level since February 2018, according to the Labor Department’s Job Openings.
U.S. homebuilding jumped to a 13-year high in December as activity rose. Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, its peak since December 2006.
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January 16. 2020
U.S. stock indexes rallied to record peaks today, with the S&P 500 crossing the 3,300 mark for the first time.
Morgan Stanley’s (MS.N) advanced 5.6% after the Wall Street bank came above forecasts and managed to raise its performance goals.At 9:53 a.m. ET, the Dow Jones Industrial Average inclined 0.49% at 29,173.11.
The S&P-500 soared 0.46% to 3,304.56 and the Nasdaq Composite secured 0.70% to 9,323.93.
U.S. consumer confidence rose last week and jumped to its highest level in more than 19 years amid higher optimism of the economics conditions.
U.S. retail sales also jumped for a third straight month in December, with households buying a range of goods. The Commerce Department stated that retail sales soared 0.3% last month.
Data for November was revised up to show retail sales gaining 0.3% instead of rising 0.2% as previously announced.
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January 15, 2020
Today is a positive session for Wall Street. The Dow Jones Industrial Average soared 148.3 points, or 0.51%, to 29,087.97.
The S&P-500 inclined 12.62 points, or 0.38%, to 3,295.77 and the Nasdaq Composite surged 35.70 points, or 0.39%, to 9,287.03.
U.S. producer prices rallied at the very end of 2019, as a gain in the cost of goods was offset by weakness in services.
The Labor Department announced today that its producer price index for final demand ticked up 0.1% last month after remaining around the same levels in November.
U.S. President Donald Trump and Chinese Vice Premier Liu He should sign today a Phase 1 deal that will roll back some tariffs and see China boost purchases of U.S. goods and services.
U.S. producer prices edged up in December as a rise in the cost of goods was offset by weakness in services, the latest indication of tame inflation pressures that could allow the Federal Reserve to keep interest rates unchanged this year.
See also the Live ChartJanuary 14, 2020
The S&P-500 eased from record levels today as technology stocks handed back rallies made on forecasts of preliminary U.S.-China trade deal.
U.S. consumer prices slightly advanced last month even as households paid more for health care.
The low inflation data reported from the Labor Department on Tuesday came on the heels of data last week showing a moderation in job growth in December.
The U.S. fiscal deficit topped $1 trillion in 2019, the first time it has passed that level in a calendar year since 2012, according to Treasury Department.
Wells Fargo & Co (WFC.N) slipped 3.7% after announcing a decline in profit, as it set aside $1.5 billion toward legal expenses.
Amazon.com Inc (AMZN.O), Apple Inc (AAPL.O), Nvidia Corp (NVDA.O) and Facebook Inc (FB.O) retreated around 0.5% and 1%.
See also the Live ChartJanuary 13, 2020
Stocks rallied today, resuming the gaining path.
The S&P-500 inclined 0.5% to reach a peak mark. The Nasdaq Composite also notched an all-time high, adding 0.8%.
The Dow Jones Industrial Average soared 56 points, or 0.2%.
Treasury yields just inclined today as most investors are focused on the signing of a so-called “phase one” trade deal between the U.S. and China later this week.The yield on the benchmark 10-year Treasury note, surged 2 points to 1.84%, while the yield on the 30-year Treasury bond was also higher at around 2.31%.
Tesla Inc. Stock per share jumped $500 for the first time.
The U.S. Department of Labor yesterday reported a rule that will make it more difficult to prove companies are liable for wage law violations.
Boeing’s has a new Chief Executive Officer David who face very challenging times after two fatal crashes which led to the grounding of the 737 MAX last March.
The plane company is into a hard position and has ordered a full-scale halt in production of the 737 MAX, which represents a huge cost in billions of USD.
January 10, 2020
The Dow Jones Industrial Average passed the 29,000 mark for the first time, as rallies in technology and healthcare stocks offset issues from the data on the U.S. jobs growth in December.
The main U.S. indexes opened at a record high.
At 10:21 a.m. ET the Dow Jones Industrial Average added 28.50 points, or 0.10%, at 28,985.40.
The S&P-500 inclined 6.37 points, or 0.19%, at 3,281.07 and the Nasdaq Composite surged 26.13 points, or 0.28%, at 9,229.56.
The stock of Apple Inc (AAPL.O) advanced 0.9% after Credit Suisse became the latest brokerage to raise its price target on the stock, citing better-than-feared iPhone 11 cycle so far.
U.S. job growth dropped down more than initially estimated in December, but the pace of hiring likely remains sufficient to keep the longest economic expansion in history.In fact, Nonfarm payrolls jumped 145,000 jobs last month.
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Stocks jumped record highs today as issues between Iran and the U.S. eased for the present run.
The Dow Jones Industrial Average traded 134 points soared 0.5%. The S&P-500 inclined 0.5% while the Nasdaq Composite jumped 0.8%.
Apple shares rallied 1.7% to a record high after a Reuters report said, according to government numbers.New applications for U.S. jobless benefits slipped more than predicted last week.
Moreover, treasury yields were up slightly amid concerns over a military confrontation between the U.S. and Iran eased. The yield on the benchmark 10-year Treasury note soared 1.88%.
Initial claims for state unemployment benefits fell 9,000 to a seasonally adjusted 214,000 for the week ended Jan. 4, the Labor Department said on Thursday.
Private payroll growth ended 2019 on a solid end with companies creating 202,000 positions in December.
In reality, the total was well above the 150,000 consensus forecast from economists surveyed by Dow Jones and sets the stage for the government’s official data.
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January 08, 2020
The S&P-500 and the Nasdaq reached peak marks today after President Donald Trump announced there were no American casualties in the Iranian missile strikes.
At 12:01 p.m. ET, the Dow Jones Industrial Average inclined 204.40 points, or 0.72%, at 28,788.08.The S&P-500 gained 22.02 points, or 0.68%, at 3,259.20 and the Nasdaq Composite soared 64.35 points, or 0.71%, at 9,132.94.
The stock of Boeing Co (BA.N) slipped 1.2% after its 737-800 jet to the Ukrainian airlines fell down just after take-off from Tehran, killing all 176 people on board.
Treasury prices erased overnight gains and entered into a retreating pattern even after Iran fired missiles at U.S. forces in Iraq.
The yield on the benchmark 10-year Treasury note surged 1.84%, while the yield on the 30-year Treasury bond also jumped to 2.32%.
Private payroll growth ended 2019 into a good pattern, with companies adding 202,000 positions in December in another sign of a healthy labor market, according to a report Wednesday from ADP and Moody’s Analytics.
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January 01, 2020
Wall Street is quiet today as investors rest from New Year’s Eve parties. They are also likely tallying their profits after U.S. markets delivered their best yearly performance in six years.
The tech heavy Nasdaq led index gains, rising 35.2% as the technology sector led the market for much of 2019. The S&P 500 also had a solid performance, returning 28.9% to investors in 2019. The blue chip Dow Industrials rose 22.3%, and small cap stocks also did well, with the Russell 2000 tacking on 23.7% for the year.
Apple and Microsoft were the leaders for the Dow in 2019, gaining 86.2% and 55.3% respectively while also contributing 15% of the S&P 500 gains. Also putting in amazing performances were the chip makers. Shares of Advanced Micro Devices jumped 148.4% in 2019, while rivals LAM Research and KLA surged higher by 114.7% and 99.1% respectively.
It wasn’t only technology that profited investors in 2019. Shares of retailer Target rallied 94% higher in 2019, while restaurant stock Chipotle Mexican Grill was 93.9% higher for the year.
As we head into 2020 investors are hoping for a repeat of the 2019 gains, but is that realistic? After all, stock valuations are at record levels, and corporate debt is also at record levels in many cases. Plus, the Fed seems done with rate cuts, removing that potential stock market boost.
And while a phase one trade deal between the U.S. and China seems a done deal, the trade war itself is far from over. And let’s not forget 2020 is a Presidential election year in the U.S.
December 31, 2019
Wall Street dipped in low trading volume on the last session of the year as a year-end rally powered by global optimism.
U.S. President Donald Trump announced today that the first phase of an American trade deal with China would be signed on Jan. 15 in Washington.
At 8:50 a.m. ET, Dow e-minis slipped 33 points, or 0.12%. S&P 500 e-minis EScv1 dropped 4.25 points, or 0.13% and Nasdaq 100 e-minis NQcv1 were down 19.25 points, or 0.22%.
Moreover, the S&P-500 is on track for its best month of the last nine years, also boosted by a loose monetary policy by the Fed.
The USD index marked its smallest-ever annual shift 2019, an incline of just 0.24% for the year after a drop in December reversed early advances.U.S. consumer confidence slightly declined in December, according to data by The Conference Board on Tuesday.
The metric came in at 126.5 for the month, a retreat of 126.8 in November. Economists polled by Reuters expected a reading of 128.2 for the last month of the year.
See also the Live ChartDecember 30, 2019
Wall Street’s major indexes are into a falling mode as investors booked profits on the penultimate session. The Dow Jones Industrial Average declined 144.98 points, or 0.51%, at 28,500.28.
The S&P-500 dropped 16.11 points, or 0.50%, at 3,223.91 and the Nasdaq Composite fell 74.82 points, or 0.83%, at 8,931.79.
Shares of Nio Inc (NIO.N) jumped 36.4% after the Tesla rival market quarterly revenue muchi higher than estimates for its electric vehicles.
U.S. manufacturing output entered into recovery more than forecasts in November, as the end of an almost six-week strike at General Motors plants boosted auto production.
The Federal Reserve announced that manufacturing production soared 1.1% last month after a downwardly revised 0.7% fall in October. U.S. economic growth surged in the third quarter, according to government data.
As a matter of fact, Gross domestic product added 2.1% annualized rate, according to the Commerce Department. The economy surged 2.0% pace in the April-June period.
See also the Live ChartDecember 17, 2019
The major U.S. stocks marked a decline after a four sessions advance. Still however, the markets hovered around record levels on Tuesday.
The S&P-500 jumped to a record high for the fourth straight session and was set to build on its 27% gain this year.
The confidence in the U.S. economy is moving to a higher gear, according to data from the Federal Reserve.
The stock price of Boeing fell today after the plane producer announced that it would pause production of its 737 Max aircraft.
The share prices of Meggitt and Melrose also slipped around 1%.House permits came higher November and permits for future home construction soared to a 12-1/2-year high.
Housing starts gained 3.2% to a seasonally adjusted annual rate of 1.365 million units last month, with single-family construction moving to a 10-month peak.
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December 16, 2019
The S&P 500 and Nasdaq reached peak values during today’s session, stimulated by data from China and a cooling of U.S.-China trade tensions.Boeing shares declined amid concerns over production changes to its grounded 737 jets
On the other side, the Dow Jones Industrial Average added 56.29 points, or 0.20%, at the open to 28,191.67.
U.S. government debt yields tumbled on Friday as investors weighed the details of a partial trade agreement between the U.S. and China.
The yield on the benchmark 10-year Treasury note retreated 7 basis points to around 1.824%.U.S. home builder sentiment jumped this month to its peak since 1999 amid solid sales and a surge in prospective buyer foot traffic.
The National Association of Home Builders/Wells Fargo Housing Market Index rallied 5 points to 76, the biggest monthly increase since the end of 2017.
Apple shareholders will decide by voting whether Apple should change its human-rights policies. They will report whether are willing Apple to register a commitment to respect free speech.
In fact, Apple removed a mapping app during the Hong Kong protests, which resulted in solid opposition.
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European stocks rallied today amid the reports that the U.S. and China have come up with a trade agreement.
In the meantime, U.Ks ruling Conservative Party won a Parliaments majority during the general elections.
The FTSE-100 gained 1.49%, the French CAC-40 added 0.76% and Germany's DAX jumped 0.57%.
U.K. Prime Minister Boris Johnson’s won a term to take the country through his Brexit deal and take the U.K. out of the EU before the January 31 deadline.
The pan-European Stoxx 600 added 1.5% with travel and leisure stocks soaring 3.8% to lead gains as all sectors and major bourses traded into higher ground.
Shares in U.K. utilities advanced this morning as the Labour Party and its leader Jeremy Corbyn’s resounding retreat in yesterday’s election effectively ended the possibility of a broad nationalization of the sector.
December 12, 2019
Stocks rallied to all-time peak today after President Trump stated that China and the U.S. could come up with an agreement before a key deadline.
The Dow Jones Industrial Average soared 88 points or 0.3%.
The S&P 500 also inclined 0.4% while the Nasdaq Composite gained 0.1%.
U.S. government debt prices largely fell as President Donald Trump said with Beijing are “getting very close” to a “big deal.”
The yield on the benchmark 10-year Treasury note advanced 10 basis points to 1.8936%, while the yield on the 30-year Treasury bond also soared to around 2.3197%.
The number of officially unemployed Americans soared to more than a two-year peak last week, but that probably does not signal a pickup in layoffs as the claims data tends to be volatile in the period following the Thanksgiving Day holiday.
Initial claims for state unemployment benefits jumped 49,000 to a seasonally adjusted 252,000 for the week ended Dec. 7, its peak mark since September 2017.
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December 11, 2019
Stocks have slightly moved as most traders and investors are concentrated on Federal Reserve’s latest report on monetary policy.
The Dow Jones Industrial Average slipped 55 points after a retreat of 1% of Boeing shares. The S&P500 and Nasdaq Composite surged 0.04% and 0.1%, accordingly.
U.S. consumer prices massively jumped last month, which together with labor market strength add to the Federal Reserve’s intention not to decline interest rates once again.
The consumer price index soared 0.3% last month as households paid more for gasoline and electricity.
The CPI inclined 0.4% in October. In the 12 months through November, the CPI shot up 2.1% after gaining 1.8% in October.
U.S. government debt yields tumbled today as investors across Wall Street awaited the year’s final rate decision from the Federal Reserve.
The benchmark 10-year Treasury note retreated 1.81% ahead of the decision.Higher-than-forecasted jobs numbers such as solid November payrolls created of 266,000 positions also contribute to Fed’s decision.
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December 10, 2019
U.S. stocks slightly moved today as most traders and investors are concerned about the developments that the U.S. could postpone the implementation of additional tariffs on the Chinese imports.
Washington seems like will postpone the 15% tariffs on about $160 billion in Chinese goods.
The Washington and Beijing have tried to salvage a potential “phase one” trade agreement.
The Dow Jones Industrial Average gained 25 points higher, or 0.1%. The S&P-500 inclined 0.1% while the Nasdaq Composite was up by 0.3%.
Growth of U.S. labor costs was not as strong as firstly believed in the third quarter, suggesting inflation could remain tame for a while.
Hourly compensation soared at 3.7% rate compared with the third quarter of the year. U.S. worker productivity lost the most in the last four years in the third quarter, according to the government data.
In fact, the Labor Department stated that non-farm productivity, which measures hourly output per worker, dropped 0.2% annualized rate in the last quarter, the largest tumble since 2015.
Productivity previously marked a loss of 0.3% pace in the July-September quarter.
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December 09, 2019
U.S. stocks retreated some ground today from near peak marks, pulled down by healthcare and technology shares.
The Dow Jones Industrial Average slipped 83.53 points, or 0.3%, to 27,931.53.
The S&P-500 dropped 7.06 points, or 0.22%, to 3,138.85 and the Nasdaq Composite lost 22.37 points, or 0.26%, to 8,634.16.
U.S. government debt prices soared and yields declined today as most market players are focused on the the latest development on U.S.-China trade talks and look ahead to the Federal Reserve meeting later this week.
Morgan Stanley (MS.N) laid off around 2% of its workforce globally due to mixed economic signals.
Moreover, many of the employees impacted by the job losses which affected businesses across the bank.
Amazon.com Inc (AMZN.O) acused U.S. President Donald Trump of exerting “improper pressure” and bias that led the Department of Defense to grant a whole $10 billion cloud to its main competitor Microsoft Corp (MSFT.O).
The complaint stated the following “harm his perceived political enemy-Jeffrey P. Bezos, founder and CEO of AWS’s parent company, Amazon.com...and owner of the Washington Post.”
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December 06, 2019
U.S. stocks and shares rallied today as a strong jobs report and comments from President Donald Trump on trade talks with China influenced the markets.
The Dow Jones Industrial Average inclined 284.78 points, or 1.03%, at 27,962.57.
The S&P-500 surged 27.56 points, or 0.88%, at 3,144.99 and the Nasdaq Composite soared 80.37 points, or 0.94%, at 8,651.07.
The U.S. trade deficit sunk October to its bottom of the last year as exports and imports both slid for the month, according to the the Commerce Department.
The deficit retreated 7.6% to $47.2 billion from a revised print of $51.1 billion for September.
U.S. job growth advanced by the most in 10 months in November as former striking workers returned to General Motors.
The jobs market advance comes with non-farm payrolls jumping 266,000 and the unemployment rate sinking to 3.5%, as shown by the data of the Labor Department.
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December 05, 2019
The major U.S. stock markets have only partly moved as most traders and investors are focused on teh solid employment numbers while monitoring U.S.-China trade negotiations.
The Dow Jones Industrial Average slipped 40.79 points, or 0.15%, at 27,608.99. The S&P 500 retreated 2.18 points, or 0.07%, at 3,110.58 and the Nasdaq Composite declined 4.83 points, or 0.06%, at 8,561.84.
U.S. government debt prices partly fell and yields higher on Thursday as investors monitored U.S.-China trade talks. The yield on the benchmark 10-year Treasury gained 1.8077%, while the yield on the 30-year Treasury bond was also higher at around 2.2476%.
Americans’ confidence is into recovery just in time for holiday shopping. Bloomberg’s Consumer Comfort Index jumped to 61.7 from 60.5 in the week ended Dec. 1, according to a report issued Thursday.
Luxury jeweler Tiffany & Co (TIF.N), now owned by Louis Vuitton came below forecasts for quarterly profit and sales on Thursday.
Net sales in the Americas lost 4% in the third quarter. In the Asia-Pacific region, sales did not grow despite a double-digit growth in mainland China.
December 04, 2019
The leading U.S indexes are into recovery as investor optimism jumped from U.S. President Donald Trump’s comments that negotiations with Beijing were going “very well.”
The Dow Jones Industrial Average added 146.97 points, or 0.53%, to 27,649.78. The S&P-500 rallied 19.57 points, or 0.63%, to 3,112.77 and the Nasdaq Composite inclined 46.03 points, or 0.54%, to 8,566.67.
According to Dow Jones, economists the forecasts is for 187,000 jobs in the government report Friday, a surge from 128,000 in October.
Job growth dropped down last month, with private payrolls advancing by just 67,000, according to an estimate Wednesday from ADP and Moody’s Analytics. The comes to a lower mark below the 150,000 consensus from economists surveyed by Dow Jones.
Moreover, the CNBC/SurveyMonkey Small Business Confidence Index soared from 57 in the third quarter to 59 in the fourth quarter, implying in that owners are becoming more confident about the overall outlook for their businesses.
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December 03, 2019
U.S. stocks are into a falling side today after remarks from President Donald Trump sparked in concerns of a possible resolution of additional tariff dispute with China until after the presidential election take place in November 2020.
The Dow Jones Industrial Average slipped 281.06 points, or 1.01%, at the start of the session to 27,501.98.
The S&P-500 started the session 26.46 points lower, or 0.85%, at 3,087.41.
The Nasdaq Composite dropped 107.27 points, or 1.25%, to 8,460.72 at the opening bell.
U.S. government debt prices advanced today after President Donald Trump reported that he might wait till next year to complete a trade deal with China.
The yield on the benchmark 10-year Treasury note, lost 1.7852%, while the yield on the 30-year Treasury bond also lower tumbled 2.2282%.
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December 02, 2019
Wall Street’s main indexes opened the session into a flat pattern as President Donald Trump announced that would once again levy tariffs on metal imports from Brazil and Argentina.
The S&P-500 surged 3.4% last month while the Dow added 3.7%. The Nasdaq inclined 4.5%. The Dow Jones Industrial Average slipped 29 points, or 0.1%.
The S&P 500 pulled back 0.2% while the Nasdaq Composite traded 0.4% lower. Among other stocks, Roku Inc lost 7.9%.
U.S. government debt prices tumbled as most investors traders monitored U.S.-China trade talks.
The yield on the benchmark 10-year Treasury note gained 1.8371%, while the yield on the 30-year Treasury bond was also higher at around 2.2732%.
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November 29, 2019
Stocks traded partly retreated as most traders and are focused a concrete trade deal between Beijing and Washington.
The Dow Jones Industrial Average lost 100 points, or 0.3%.
The S&P 500 also fell 0.3% along with the Nasdaq Composite. Friday’s session will end at 1 p.m. after the market was closed Thursday due to the Thanksgiving holiday.
U.S. shoppers spent $4.2 billion online on the big sopping day of Thanksgiving.
This is a surge of 14.5% versus last year according to data released by Adobe Analytics.U.S. government debt prices sunk and yields higher on Friday as investors turned cautious.
The yield on the benchmark 10-year Treasury note advanced to 1.7921%.
Facebook has restored service after a holiday outage for some hours and prevented many users from accessing its Facebook, Instagram, and Messenger platforms.
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November 28, 2019
A four-day surge had added value to most world stocks to near-record highs.
This comes after China announced that it would retaliate for U.S. legislation backing Hong Kong’s protesters.
The number of officially unemployed Americans dropped last week.
In reality, initial claims for state unemployment benefits slipped 15,000 to a seasonally adjusted 213,000 for the week ended Nov. 23, according to the Labor Department.
Data for the prior week was revised to show 1,000 additional claims.
Consumer confidence declined fourth straight month in November as economic conditions lost ground in 2019, according to the The Conference Board data.
The U.S. economy grew at a moderate 2.1% rate over the summer. The Commerce Department says the July-September advance rate in the gross domestic product, the economy’s total output of goods and services slightly exceeded initial forecasts.
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November 27, 2019
Wall Street’s main indexes marked record high marks today, as latest data pointed to a resilient economy At 10:05 a.m.
ET, the S&P-500 inclined 4.21 points, or 0.13%, at 3,144.73 and the Nasdaq Composite surged 26.91 points, or 0.31%, at 8,674.84.
Dow Jones Industrial Average slipped 21.34 points, or 0.08%, at 28,100.34, weighed down by Boeing Co (BA.N).Contracts to buy previously owned U.S. homes dropped largely in October.
The National Association of Realtors reported that its pending home sales index, based on contracts signed last month, fell 1.7% to a reading of 106.7.
The Fed reduced its interest rates for the third time this year and implied in a pause in the easing cycle that started in July.
In fact, the economic growth slightly advanced in the third quarter, rather than slowing as initially reported.
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November 26, 2019
U.S. stock index markets have slightly moved today.
Earlier this morning, Dow Jones Industrial Average futures pointed to a tumble of just 3 points at the open.
S&P-500 and Nasdaq-100 futures also indicated a flat open.
The Fed has reduced the overnight lending rate three times in 2020, most recently at its October meeting when it reduced the federal funds rate to a range between 1.5% and 1.75%.
Moreover, the Fed projects 2% inflation rate to be a sign of sustainable incline and a level that preserves interest rates high enough.
U.S. government debt prices slightly surged this morning, amid new forecasts of a limited trade deal between the world’s two largest economies.
The yield on the benchmark 10-year Treasury note lost 1.7465%, while the yield on the 30-year Treasury bond also dropped at around 2.1835%.
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November 25, 2019
Stocks soared today and reached record high levels to resume amid positive forecasts that China and the U.S. will finally reach a trade deal.
The Dow Jones Industrial Average jumped 103 points, or 0.4%. The S&P-500 added 0.5% while the Nasdaq Composite inclined 0.8%.
Treasury prices dropped and yields higher to start a shortened holiday week as most traders and investors are focused on the developments on a U.S.-China trade deal.
The yield on the benchmark 10-year Treasury note slipped 1.7878%, while the yield on the 30-year Treasury bond also added 2.2357%.
Tiffany decided to purchase by France’s LVMH for $16.2 billion or $135 per share in cash.
The Medicines Co. will be bought by Swiss drug maker Novartis for $9.7 billion or $85 per share in cash.
Tesla CEO Elon Musk tweeted several times over the weekend about demand for its newly announced electric pickup truck, with the latest saying the company had received 200,000 orders.
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November 22, 2019
Stocks markets rallied today for the first time in the four sessions after President Donald Trump said China and the U.S. were nearing a trade deal.
The Dow Jones Industrial Average inclined 64 points, or 0.2%. The S&P-500 added 0.1. The S&P-500 were both riding three-day losing streaks.
Consumer sentiment unexpectedly advanced in November, according to data released Friday by the University of Michigan.
The university’s index of consumer sentiment jumped to 96.8 from 95.5 last month. U.S. government debt prices slightly dropped as investors monitored trade progress between the world’s two largest economies.
The yield on the benchmark 10-year Treasury note, partly added 1.774%, on a rate for second straight weekly loss as investors fled to safe assets. The yield on the 30-year Treasury bond are slightly increased.
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November 21, 2019
U.S. stocks has been into a flat pattern today after mixed signals on trade and a row between Washington and Beijing over the crisis in Hong Kong.
The Dow Jones Industrial Average dropped 0.81 points, or 0.00%, at the open to 27,820.28.
The S&P-500 started the session 0.03 points higher, or 0.00%, at 3,108.49.
The Nasdaq Composite added 1.14 points, or 0.01%, to 8,527.87 at the start of the session.Sales of previously owned U.S. homes jumped in October as buyers responded to losing mortgage rates.
Contract closings advanced to a 5.46 million annual rate, an incline of 1.9% from September, according to the National Association of Realtors.
The number of officially Americans is around the same levels at a five-month peak last week, implying in falling market mode.
Moreover, the Fed last month reduced interest rates for the third time this year and indicated in a pause in the easing cycle that started in July.
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November 20, 2019
Wall Street is into a falling mode amid expectations of a trade deal receded following an escalation in tensions between Washington and Beijing.
At 10:15 a.m. ET, the Dow Jones Industrial Average dropped 81.33 points, or 0.29%, at 27,852.69.
The S&P-500 lost 5.91 points, or 0.19%, at 3,114.25 and the Nasdaq Composite tumbled 9.36 points, or 0.10%, at 8,561.28.Wednesday amid heightened political tensions between the world’s two largest economies.
The yield on the benchmark 10-year Treasury note fell 1.7508%, while the yield on the 30-year Treasury bond was also lower at around 2.2188%.
Mortgage applications soared 7% for the week and were also 7% higher versus last year.
This resulted in total mortgage application volume to decline 2.2% for the week, according to the Mortgage Bankers Association’s seasonally adjusted survey.
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November 18, 2019
The major indexes retreated from record highs today after a expectations rallied that U.S.-China trade deal is not close enough.
The Dow Jones Industrial Average dropped 11.67 points, or 0.04%, at the open to 27,993.22. The S&P-500 lost 2.55 points, or 0.08%, at 3,117.91. The Nasdaq Composite slipped 11.66 points, or 0.14%, to 8,529.16 at the opening bell.
U.S. government debt prices advanced and yields fell as report indicated in that the mood has turned sour in Beijing on a trade deal due to President Donald Trump’s reluctance to roll back tariffs.
The yield on the benchmark 10-year Treasury note sunk to 1.817%, while the yield on the 30-year Treasury bond traded higher at 2.2929%.
Home builder sentiment in the U.S. eased in this month for the first time in five months.
Additionally, the National Association of Home Builders/Wells Fargo Housing Market Index declined 1 point to 70 as sales and traffic of prospective buyers cooled, according to data released Monday.
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November 15, 2019
The major US markets are on an advance.
The Dow Jones Industrial Average reached a peak mark on Friday after White House economic adviser Larry Kudlow said China and the U.S. were getting close to reaching a trade deal.
The 30-stock average added 103 points higher, or 0.4% at the open. The S&P-500 and Nasdaq Composite also made registered time highs, jumping 0.4% and 0.6%, accordingly.
Yesterday, the Fed‘s Chairman Jerome Powell stated that he does not see any signals of coming of bubbles.U.S. retail sales regaining ground in October, but consumers dropped back on purchases of big-ticket household items and clothing.
In fact, retail sales soared 0.3% last month, boosted by motor vehicle purchases and higher gasoline prices.
Uber shares came under solid pressure around the expiry of its IPO lockup period -- when selling limitations for early investors and insiders came to an end.
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November 14, 2019
The S&P 500 and the Dow Jones Industrial Average are into a static position, but are still around the highest levels as a dour forecast from Cisco offset gains.
At 10:23 a.m. ET the Dow Jones Industrial Average gained 1.98 points, or 0.01%, at 27,785.57 and the Nasdaq Composite fell 5.99 points, or 0.07%, at 8,476.11.
Viacom Inc rallied 2.7% after the MTV-owner beat quarterly profit forecasts, boosted by an incline in domestic advertising revenue.
Kraft Heinz Co tumbled 3.3% after a report that Goldman Sachs had downgraded the food and beverage maker’s stock to “sell”. Wells Fargo & Co (WFC.N) reported that general counsel Allen Parker will resign next year.
The change will take place on March 2020. Additionally, Last week, the fourth-largest U.S. bank hired former JP Morgan Chase (JPM.N) executive and previous White House official, William Daley, to head public affairs.
IBM stated that will introduce a new weather forecasting system which will be able to predict conditions up to 12 hours.
Demand for more precise and accurate weather forecasts has surged as more extreme conditions rise due to climate change.
November 13, 2019
The main American indexes partly advanced as Federal Reserve Chair Jerome Powell stated the central bank saw a “sustained expansion” ahead for the U.S. economy.
At 11:45 a.m. ET the Dow Jones Industrial Average gained 37.95 points, or 0.14%, at 27,729.45.
The S&P-500 inclined 3.04 points, or 0.10%, at 3,094.88 and the Nasdaq Composite secured 3.77 points, or 0.04%, at 8,489.86.
The Federal Reserve is not expected to adjust interest rates anytime soon so long as the economy remains on its present path, according to Fed’s chairman Chairman Jerome Powell.
He reported a few weeks ago that the Fed’s moves this year toward more accommodating monetary policy have helped support an economy that further rallies.U.S. consumer prices advanced by the most in seven months in October.
In reality, the Fed last month reduced rates for the third time this year and signaled a pause in the easing cycle that started in July.
Mortgage rates are higher but are expected to remain behind a major surge in mortgage application volume last week.
This is usually the case of gaining rate cycle, as borrowers realize rates may have hit bottom and and start demanding before they enter into recovery.
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November 12, 2019
Stocks partly soared today as most traders and investors are focused on the speech from President Donald Trump on trade and economic policy.
The S&P-500 added 0.4% to reach a fresh intraday record. The Nasdaq Composite also jumped to an all-time high, trading 0.4% higher.
The Dow Jones Industrial Average rallied 45 points, or 0.2%.Trump is about to speak at noon ET at the Economic Club of New York where he is expected to provide some signals on the trade talks between the U.S. and China.
CBS Corp (CBS.N) came short of Wall Street estimates for third-quarter revenue on Tuesday, as a 19-day carriage dispute with AT&T Inc (T.N).
In fact, shares of CBS and sister company Viacom Inc (VIAB.O) slipped around 3%.
U.S. government debt yields are into a steady pattern as investors awaited further detail on the U.S.-China trade truce that President Donald Trump has promised.
The yield on the benchmark 10-year Treasury note, is partly changed at1.933%, while the yield on the 30-year Treasury bond remains around the same levels of 2.411%.
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November 11, 2019
The Dow Jones Industrial Average partly managed to advance, erasing a deficit of 163 points.
The index added 11 points in midday trading, or 0.04%. The S&P-500 fell 0.2%, led lower by the utilities and health care sectors.
The Nasdaq Composite dropped 0.2%.
Boeing Co on Monday announced that hopes that the U.S. regulator to approve the return to commercial service of its grounded 737 MAX jet in the coming weeks.
Moreover, the airplane maker reported that estimates that the U.S. Federal Aviation Administration (FAA) to issue an order approving the plane’s return to service next month.
Dutch judge ordered Facebook a penalty payment for each time it fails to block cryptocurrency ads. The social giant will have to pay 10,000 euros ($11,000) each time the posts using the image of John de Mol appear, up to a maximum of 1 million euros, according to an Amsterdam court decision of today.
November 8, 2019
The leading U.S markets partly tumbled after a record trend this week boosted by higher expectations of a U.S.-China trade truce.
The S&P-500 slipped 3.93 points, or 0.13%, at 3,081.25.
The Nasdaq Composite fell 11.85 points, or 0.14%, to 8,422.67 at the opening bell.
The Dow Jones Industrial Average soared11.40 points, or 0.04%, at the open to 27,686.20.
Washington will not impose tariffs on European cars next week, according to Jean-Claude Juncker, the outgoing president of the European Commission.
As a matter of fact, President Donald Trump will have to decide until November 13 whether to apply new duties on European autos.
The stock price of Gap Inc (GPS.N) retreated around 10% today, as the surprise departure of Chief Executive Officer Art Peck and persistent falling market share.
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November 7, 2019
Stocks jumped to peak marks after China announced that the world’s two largest economies had agreed to remove existing trade tariffs.
The Dow Jones Industrial Average soared 200 points, or 0.7%. The S&P-500 inclined 0.5% as the financials sector gained 0.8%. The Nasdaq Composite, also added 0.6%.
U.S. government debt yields slipped today as traders and investors are still concerned about a possible trade deal between the U.S. and China.
The benchmark 10-year Treasury note dropped 1.8134%, the first loss in four days. %.
Job openings dropped to its bottom of the last 18 months in September, according to a Labor Department report. Total vacancies sunk to 7.02 million for the month, a loss of 277,000 from August, as reported by the Jobs Opening.
Ralph Lauren Corp. Adv advanced after the apparel maker reported same-stores sales. A drop in foreign demand created in some negative pressure on the brand.
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November 06, 2019
Stocks slightly moved and had hard time to manage the advance that drove the market to record highs.
The Dow Jones Industrial Average dropped around 7 points to 27,492.56.
The S&P-500 was also barely changed, closing at 3076.77.
The Nasdaq Composite fell around 0.3% as big tech including Amazon, Microsoft, Apple and Facebook marked lower values than expected.
U.S. government debt yields slipped today as investors are still cautious about a possible trade deal between the U.S. and China.
The benchmark 10-year Treasury note yield lost around1.8134%, the first decline in four sessions.
Job openings fell to its weakest mark of the last 18 months in September.
Total vacancies tumbled to 7.02 million for the month, a loss of 277,000 from August, the Jobs Opening and Labor Turnover Survey showed.
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