|Day's range||26,926.68 - 27,194.75|
|52-week range||21,712.53 - 27,398.68|
Based on the early price action and the current price at 26967, the direction of the December E-mini Dow Jones Industrial Average futures contract into the close on Friday will be determined by trader reaction to 27009.
Skilled technical traders must be aware that price is setting up for a breakout or breakdown event with recent Doji, Hammer and other narrow range price bars. These types of Japanese Candlestick patterns are warnings that price is coiling into a tight range and the more we see them in a series, the more likely price is building up some type of explosive price breakout/breakdown move in the near future. The ES (S&P; 500 E-mini futures) chart is a perfect example of these types of price bars on the Daily chart (see below).
Investing.com – Wall Street inched forward on Friday as traders monitored trade developments between the U.S. and China, while easing monetary policy around the globe increased hopes that central banks will help soften the blow from the drawn-out trade war.
The Dow Jones Industrial Average fell 53.44 points (or 0.2%) today, possibly because the market gave a thumbs up to yesterday's 0.25% rate cut by the Fed.
Investing.com - A strong opening stock rally Thursday faded in the afternoon in part because of worries about the upcoming U.S.-China trade talks.
Based on the early price action and the current price at 27207, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Thursday is likely to be determined by trader reaction to the downtrending Gann angle at 27191.
Investing.com – Wall Street opened higher on Thursday as signs of confidence from Microsoft (NASDAQ:MSFT) and gains in chip stocks offset mixed signals from the Federal Reserve.
We’ve been watching the markets today and over the past few days after the Saudi Arabia attack and are surprised with the real lack of volatility in the US major markets – excluding the incredible move higher, then lower in Oil. The real news appears to be something completely different than Oil right now. Might it be the Fed Meeting?
Fed Chairman Jerome Powell faces the tough task of corralling a committee dividing further on where rates should go next.
The Dow Jones Industrial Average Index rose 36.28 points for a 0.13% increase today. The S&P; 500 Index gained 0.07% while tech ETFs mirrored that increase.
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 recovered most of their losses by the end of trading Wednesday, erasing an afternoon selloff after the Federal Reserve cut its key interest rate for the second time in two meetings.
Based on the early price action and the current price at 27060, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Wednesday is likely to be determined by trader reaction to the downside Gann angle at 27015 and the minor pivot at 27009.
Movements in oil prices can affect the broader stock market if the U.S. dollar significantly fluctuates. That’s the assessment from David Bahnsen, founder of The Bahnsen Group, with $2 billion in assets under management.
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.
(Bloomberg Opinion) -- The announcement by FedEx Corp. late Tuesday that it was slashing its profit outlook, in large part because of a softening global economy, won’t only be painful for the shipping company’s shareholders. It’s bound to worsen one of the market’s more noticeable weak spots.FedEx shares tumbled about 11% in early trading Wednesday, wiping out the stock’s gain for the year after the company said that its best-case scenario for adjusted earnings in the fiscal year ending in May was only $13 a share – a dollar short of the lowest of 25 analyst estimates compiled by Bloomberg.As the second-largest constituent in the 20-member Dow Jones Transportation Average, accounting for 9.87% of the benchmark, the decline in FedEx’s shares are sure to weigh on the index’s performance. But that’s only part of the reason why the stock market’s bulls should be worried. The bigger cause for concern has to do with something called the Dow Theory.Around for more than a century, the Dow Theory holds that if either the benchmark Dow Jones Industrial Average or the Dow Jones Transportation Average reaches a new record, the other must soon follow to confirm a bullish outlook. The broad Dow gauge has done its part, closing at a new all-time high twice in the past 12 months, first in October and again in July.The transports, whose constituents include economic bellwethers such as railroad Norfolk Southern Corp. and trucking firm Ryder System Inc. in addition to FedEx, hit a high a year ago, but has since struggled, falling 7.48% percent. That compares with a gain of 3.66% for the main gauge. In other words, the longer the transports underperform, the more tenuous the bull market in stocks looks.When it comes to FedEx, those who follow the package-delivery giant closely know that some of its troubles are its of its own making. Still, the economic headwinds it cited are real; it shouldn’t be a surprise that transport companies are struggling. The escalating trade war has done damage to the global economy, with the International Monetary Fund projecting that global economic growth this year will be the slowest since the financial crisis. The latest figures from the CPB World Trade Monitor administered by the Dutch Bureau for Economic Policy Analysis show global trade volumes have languished for seven straight months. World Bank President David Malpass said Tuesday that the global economy is poised to decelerate more than previously estimated.Closer to home, the Cass Freight Index, a monthly measure of U.S. rail, trucking and airfreight volume, dropped 3% in August from a year earlier, the ninth consecutive month of declines. The figures released Friday blamed tariffs for stalling trade, according to Bloomberg News’s Brendan Murray. “The shipments index has gone from warning of a potential slowdown to signaling an economic contraction,” according to the commentary included in the report. “We see a growing risk that GDP will go negative by year’s end.” The risk of a downturn will likely lead Federal Reserve policy makers to lower their benchmark interest rate on Wednesday as they wrap up a two-day meeting, though with rates already so low, further reductions may be less effective at spurring growth. It’s been a remarkable run in the equity markets this year, with the MSCI USA Index rallying 20%. But that doesn’t mean there isn’t this nagging feeling that the long bull market in stocks is living on borrowed time. To contact the author of this story: Robert Burgess at firstname.lastname@example.orgTo contact the editor responsible for this story: Beth Williams at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Robert Burgess is an editor for Bloomberg Opinion. He is the former global executive editor in charge of financial markets for Bloomberg News. As managing editor, he led the company’s news coverage of credit markets during the global financial crisis.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Surging consumer spending has kept the U.S. economy afloat – but it hasn’t been enough to buoy the financial results for FedEx.
Investing.com - Wall Street slipped lower at the open on Wednesday as investors waited for the Federal Reserve’s latest interest rate decision later in the trading day.
FedEx (FDX) reported first-quarter results that missed consensus expectations and lowered guidance for the fiscal 2020 year.