|Day's Range||8,201.52 - 8,245.66|
|52 Week Range||6,190.17 - 8,245.66|
A stock-market index of small caps is at its weakest versus the S&P 500 since the financial crisis, suggesting a liquidity problem is brewing.
Our call of the day comes from a money manager who says he got out of stocks and bonds in early July, and why investors should follow suit.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite closed the week at their highest-ever closing values. This coming week, 56 companies from the S&P 500 report earnings.
U.S. stocks push further into record territory Friday, after Federal Reserve Chairman Jerome Powell in two days of congressional testimony bolstered investor expectations for a rate cut at the end of the month.
The S&P 500 closed above the 3,000 level for the first time, with the industrial, consumer discretionary and materials sectors each posting gains of at least 1%. Illumina Inc shares tumbled 16.1%, the most among S&P 500 companies, after the gene sequencing company's preliminary second-quarter revenue came in below analyst estimates.
Wall Street stocks closed higher and the dollar fell on Friday as investors prepared for a U.S. interest-rate cut, while oil futures were little changed as a forecast for a global crude surplus offset worries about U.S. output declines due to a tropical storm. Market expectations of an interest rate cut in July held firm after two days of testimony from Federal Reserve Chair Jerome Powell. Wall Street's benchmark, the S&P 500, and the Dow Jones Industrial Average rose modestly a day after hitting record highs.
Major stock indexes posted record finishes Friday, ending a positive week for equities on a high note. The Dow Jones Industrial Average rose around 244 points, or 0.9%, to end near 27,332, according to preliminary figures, while the S&P 500 ended above the 3,000 level for the first time, rising nearly 14 points, or 0.5%, to end near 3,014. The Nasdaq Composite advanced around 48 points to end near 8,244, a gain of 0.6%. Stocks were boosted this week after Federal Reserve Chairman Jerome Powell, in two days of testimony before House and Senate lawmakers, did nothing to dissuade investors from expectations that policy makers will move at the end of the month to cut interest rates.
U.S. stocks extended gains Friday as risk assets continued to get a boost from Federal Reserve officials’ more dovish communications.
U.S. stocks hit record highs on Friday as high expectations for an interest-rate cut from the Federal Reserve continued to propel shares while investors awaited next week's kickoff of the corporate earnings season. The S&P 500 traded above the 3,000 level for a third straight session, with industrial and consumer discretionary posting gains of 1% or more. "All this week has been the Federal Reserve's influence," said Mark Kepner, equity trader at Themis Trading in Chatham, New Jersey.
While U.S. many businesses are expressing increasing concern over the effects of tariffs on their imports and exports, the U.S. consumer doesn’t seem to be feeling the same pain yet
The Nasdaq composite has rallied nearly 13% from its June 3 low, underscoring the power of the current rally since a key follow-through day on June 7.
STOCKSTOWATCHTODAY BLOG More Gains. Stocks continue to rise in the wake of Fed Chairman Jerome Powell’s Congressional testimony. Investors now see a rate cut at the end of the month as all but locked in.
The S&P 500 and the Dow Jones Industrial Average hit fresh record highs on Friday, as the indexes continued a strong run for the week on hopes of an interest rate cut this month, while investors waited for the start of the corporate earnings season. In his two-day testimony before Congress, Federal Reserve Chairman Jerome Powell said the U.S. economy was still under threat from disappointing factory activity, tame inflation and a simmering trade war and that the central bank stood ready to "act as appropriate". Abate said most of the positive catalysts that have driven the market higher, have been priced in and now the focus will shift to the earnings season in the next few weeks.
Piper Jaffray analyst Harsh Kumar predicts demand will improve as more games support the “ray tracing” technology of Nvidia’s graphics cards.
The S&P 500 and Dow indexes hit a record high at the open on Friday, after Federal Reserve Chairman Jerome Powell's dovish remarks this week boosted bets of an interest rate cut this month. This marks the third time the S&P 500 has hit an all-time high this week, and traded above the 3,000 level. The Dow Jones Industrial Average rose 51.41 points, or 0.19%, at the open to 27,139.49.
U.S. stocks opened at new record highs Friday helped by Federal Reserve Chairman Jerome Powell's testimony to Congress this week which bolstered investor expectations for an interest-rate cut at the end of the month. The Dow Jones Industrial Average was up 70 points at 27,156 while the S&P 500 gained 4.30 points to 3,004 and Nasdaq was 16 points higher at 8,212. On Thursday the Dow closed 27,000 for the first time and the S&P 500 also pushed up further record territory. The Nasdaq Composite scored a record close on Wednesday. Meanwhile, weak data overnight from both Singapore and China sent another warning shot to the world economy on the impact of trade tensions. An unexpected rise in American producer prices for June reported early Friday did little to alter investor sentiment toward the Federal Reserve's next policy move.
The producer price index rose a modest 0.1% in June, indicating that inflation remains muted. Economists polled by MarketWatch had predicted a 0.1% fall. The increase in wholesale inflation over the past year fell to 1.7%, the lowest level since January 2017, the government said Friday. Wholesale energy prices dropped 3.1% in June. Wholesale food costs rose 0.6%. Excluding food, energy and trade margins, core PPI rate was flat last month after two straight months of 0.4% gains. The yearly rate of increase in core prices decreased to 2.1% from 2.3%.
Earnings season is almost here with big banks like JPMorgan, Citigroup, and Bank of America set to report next week. Yahoo Finance's Seana Smith and Brad McMillan, chief investment officer at Commonwealth Financial Network, discuss what to expect and whether it could end the market rally.
Yahoo Finance's YFi AM talks to the CIO of Exencial Wealth Advisors Tim Courtney to discuss what's moving the markets, the risk of a recession, impact of Trump's trade war and the potential impact of a Fed rate cut.