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Showing posts with the label Wall Street at Close Report

Wall Street at Close Report: S&P 500 closes near its low for the year in volatile session on Wall Street

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Thomas Franck Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 5, 2018. Brendan McDermid | Reuters Stocks struggled to rebound Tuesday as the major indexes erased early gains and the S&P 500 hit a new low for the year. The S&P 500  turned negative Tuesday afternoon, falling 0.4 percent after rallying more than 1 percent earlier in the session. The Dow Jones Industrial Average  fell into negative territory after leaping over 300 points during morning trading and was last seen flirting with a new closing low for 2018. Market participants pointed to growing fears of a government shutdown, a slide in oil prices and worries that the Federal Reserve is going too far with its rate-hiking plans. New comments out of Washington appeared to spark the afternoon selling after Senate Majority Lead Mitch McConnell said that a proposed government funding plan was rejected by his Democrat colleagues. The Kentucky Republican propos

Wall Street at Close Report: Dow dives about 500 points to its lowest close since May

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Fred Imbert,Sam Meredith ,Yen Nee Lee Stocks fell sharply on Friday after weaker-than-expected data in China and Europe exacerbated concerns of a global economic slowdown. The Dow Jones Industrial Average fell 550 points, led lower by declines in Apple and Johnson & Johnson. The S&P 500 dropped 2.1 percent as the consumer staples and health care sectors lagged. The Nasdaq Composite pulled back 2.4 percent. Friday’s losses wiped out the gains for the week. China reported industrial output and retail sales growth numbers for November that missed expectations. This is the latest sign shown by China that its economy may be slowing down. The data also underscored the rising risks to China’s economy as Beijing works to resolve an ongoing trade war with the U.S. “The economic data continues to bear out growth is slowing,” said Tom Martin, senior portfolio manager at Globalt. “There is still a lot of positive positioning out there. As the data continues to slow, pe

Wall Street at Close Report: Dow rises in wobbly session as Wall Street digests latest US-China trade developments

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Fred Imbert,Sam Meredith Stocks seesawed on Thursday while investors digested new developments in the ongoing U.S.-China trade war and Wall Street’s volatile week approached its end. The Dow Jones Industrial Average closed 67 points higher after alternating between gains and losses throughout the day. The S&P 500 fell marginally, while the Nasdaq Composite dipped 0.4 percent as Amazon and Alphabet gave up their initial gains. Equities rose broadly earlier in the day, with the Dow rising more than 200 points at its session high. The S&P 500 and Nasdaq both rose as much as 0.7 percent. “It seems like things are headed in the right direction,” said JJ Kinahan, chief market strategist at TD Ameritrade. But “we’re going to be moving a lot until we get some resolution on tariffs.” He said positive sentiment around trade and a sharp rebound in General Electric contributed to the early rise in equities. On Wednesday, Reuters reported C

Wall Street at Close Report: Dow rises more than 150 points on trade-deal hopes, but closes well off session highs

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Fred Imbert Stocks traded higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China. The Dow Jones Industrial Average rose 311 points, led by gains in Caterpillar. The S&P 500 climbed 1.2 percent as the consumer discretionary sector outperformed. The Nasdaq Composite jumped 1.6 percent as Facebook, Amazon, Netflix and Google-parent Alphabet rose. The major averages came off their highs in afternoon trading. The Dow had risen as much as  458 points, while the S&P 500 gained 1.85 percent at its session high. The Nasdaq rose as much as 2.35 percent. “There’s a lot of anxiety around there,” said Dan Deming, managing director at KKM Financial. “The market is just dealing with some headline issues it just can’t seem to shake off.” “Until we get some resolution to some of those issues, I think this will continue,” Deming said. Shares of Caterpillar and Boeing both rose

Wall Street at Close Report: Dow closes lower after swinging more than 500 points in another volatile session

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Fred Imbert Stocks traded in a wide range on Tuesday, alternating between gains and losses, as volatility continues to grip Wall Street. As of 2:35 p.m. ET, the Dow Jones Industrial Average was up 24 points. At its high of the day, it rose as much as 368 points. It also fell as much as 202 points. The S&P 500  traded 0.2 percent higher sliding 0.6 percent earlier in the day. The Nasdaq Composite  rose 0.3 percent. Stocks initially rose more than 1 percent across the board amid signs that U.S.-China trade relations could be improving. Bloomberg News reported earlier on Tuesday that China is moving toward cutting tariffs on cars made in the U.S. to 15 percent from the current 40 percent . The proposal has been submitted to the Chinese Cabinet and will be reviewed in the coming days, the report said. A U.S. official later told Reuters that China indicated it will cut the tariffs, but the U.S. would wait on formal documentation and timing. Trump also tweeted the

Wall Street at Close Report: Dow tumbles more than 500 points, wipes out gain for the year to cap wild week on Wall Street.

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Fred Imbert Stocks dropped sharply on Friday, concluding what has been a wild week for Wall Street. A weaker-than-expected jobs report and China-U.S. trade tensions sent the Dow Jones Industrial Average lower by 558.72 points to 24,388.95 and erased its gains for the year. At one point, the Dow was up more than 8 percent for 2018. The S&P 500 pulled back 2.3 percent to 2,633.08 and also turned negative for the year. The Nasdaq Composite dropped 3.05 percent to close at 6,969.25. Shares of large-cap tech companies led the way lower. Facebook, Amazon, Netflix and Google-parent Alphabet all traded lower. Apple’s stock also fell 3.6 percent — erasing its gains for the year — after Morgan Stanley cut its price target on the tech giant’s shares, citing weakening iPhone sales . For the week, the major indexes all dropped more than 4 percent. Thursday’s session included a violent drop of nearly 800 points, followed by a strong rebound from those levels. This week was also th

Wall street at Close Report: Dow rebounds from 780-point plunge, ends day just slightly lower on report Fed may pause hikes

Christine Wang, Fred Imbert, Eustance Huang Stocks slashed steep losses on Thursday after news broke that the Federal Reserve could tighten monetary policy at a slower pace than previously expected. The Wall Street Journal reported the central bank is considering whether to signal a wait-and-see approach to rate hikes at its upcoming meeting next month. The report said Fed officials do not know what their next move on rates will be after December. "What this week and half shows is an extraordinary sensitivity to headlines; more so than usual," said Delores Rubin, senior equities trader at Deutsche Bank Wealth Management. "It's been very difficult to navigate the waters so far." The Dow Jones Industrial Average traded 212 points lower after plunging nearly 800 points, while the S&P 500 traded 0.7 percent lower. The Nasdaq Composite erased its losses, hovering around the flatline as Amazon, Netflix and Alphabet all rose more than 1

Wall Street at Close Report: Sens. Rob Portman and Sherrod Brown push GM CEO Mary Barra to scrap Ohio job cut plans

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Robert Ferris,Jacob Pramuk Mary Barra Kevin Lamarque | Reuters U.S. lawmakers pressed General Motors CEO Mary Barra Wednesday against following through with the company’s plans to cut up to 14,000 jobs, two senators said after emerging from the closed-door meeting. She’s meeting privately Wednesday and Thursday with several lawmakers representing regions that will be hit hard by the cuts, congressional aides said. Barra huddled with Ohio Sens. Rob Portman, a Republican, and Sherrod Brown, a Democrat on Wednesday afternoon. She was expected to meet with Democratic Rep. Tim Ryan on Wednesday, as well. They’ve decried GM’s plan to close its Lordstown assembly plant in their home state. After the meeting, Portman told reporters that Barra “is willing to keep an open mind” about re-purposing the facility, but “does not want to raise expectations.” He and Brown said they are pushing for GM to either move production from Mexico to Ohio or build one of

Wall Street at Close Report: Dow plunges nearly 800 points on rising fears of an economic slowdown

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Fred Imbert Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters down Wall Street. The Dow Jones Industrial Average fell 799.36 points, or 3.1 percent, to close at 25,027.07 and posting its worst day since Oct. 10. At its low of the day, the Dow had fallen more than 800 points. The S&P 500 declined 3.2 percent to close at 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500 plunging 4.4 percent. Utilities was the only positive sector in the S&P 500, rising 0.16 percent. The Nasdaq Composite also dropped 3.8 percent to close back in correction territory at 7,158.43. Trading volume in U.S. stocks was also higher than usual on Wall Street. The yield on the thre

Wall Street at Close Report I Dow jumps more than 250 points on US-China trade truce

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Are the markets overreacting to the trade truce?      10 Hours Ago | 03:55 U.S. stocks rose on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to a 90-day cease-fire in the trade war that has weighed heavily on global stock markets for most of 2018. The Dow Jones Industrial Average rose 287.97 points to 25,826.43 while the S&P 500 gained 1.1 percent to close at 2,790.37. The Nasdaq Composite rose 1.5 percent to end the day at 7,441.51. The consumer discretionary sector in the S&P 500 was the best performer, rising 2.5 percent. Amazon and Apple rose 4.9 percent and 3.5 percent, respectively. Stocks came off their highs in midmorning trading, however. At its high of the day, the Dow had risen nearly 442 points. "I don't know why the market rallied on that news," said Bruce Bittles, chief investment strategist at Baird. "Does it solve any of the long-term issues? I don't think so. T

Wall Street at Close Report: Dow ends volatile November with more than 150-point rally on hopes of a US-China trade deal at G-20

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Fred Imbert Stocks rose on Friday after

Wall Street at Close Report: Dow snaps 3-day winning streak on trade worries

Fred Imbert Stocks