|Day's range||2,879.62 - 2,894.45|
|52-week range||2,346.58 - 2,954.13|
An account owned by Tom Daffron may have sold its entire position in Red Hat. The purchase of Wex stock marks the initiation of an investment.
BlackRock, Vanguard and State Street Global Advisors are on course to control four votes out of every 10 cast at large US companies, as regulators and policymakers probe the wider consequences of their increasing dominance of the investment market. The influence of the Big Three, which have mopped up trillions of dollars of index investments in recent years, is being viewed by politicians as a possible antitrust issue. BlackRock, Vanguard and SSGA, which collectively manage more than $14tn, account for a quarter of votes cast at S&P 500 companies.
AMD CEO Lisa Su led a stunning turnaround at the semiconductor company, which is now giving Intel a run for its money in all areas of the chip business.
Proponents of interest-rate cuts see them as needed to keep the economy hopping. But they’re unlikely to offset the drag from trade frictions or to fan the inflation the Fed fears.
THE TRADER Bad news poured down this past week, yet the market kept on dancing in the rain. There was bad geopolitical news as the U.S. blamed Iran for attacking two tankers carrying petroleum products.
Investors are sitting tight as events in the next two weeks could move the market. The Federal Reserve is meeting next week amid expectations of an interest rate cut.
In a baffling week, oil tankers were attacked in the Persian Gulf, America blamed Iran, and U.S. stocks rose. President Donald Trump threatened to slap sanctions on a fellow NATO member and the fourth biggest economy in the world, and the riskiest U.S. debt hit a record high. The easiest conclusion is that equity investors are betting on supportive central bankers helping juice either economic growth or asset values or both, and there’s plenty of evidence to support that.
US crude oil active futures have fallen 0.6% in the last week, possibly dragging down or limiting XOP, XLE, OIH, and AMLP, which have returned -1.4%, 0.7%, 1.3%, and 0.7%, respectively.
Shares of Tesla are on track for a second-consecutive weekly rise as bullish analysts—and CEO Elon Musk—continued to defend demand for the electric car maker’s vehicles.
Chipmakers tumbled the most in almost a month, weighing on the S&P 500 Index after Broadcom Inc. cut its sales forecast, citing trade war concerns. The outlook for the Fed was in focus, with BMO strategists saying the odds of a cut next week are higher than many expect, while DoubleLine Capital’s Jeffrey Gundlach said he expects no reductions this month. “Investors face a steepening wall of worry as geopolitical risk now joins lingering trade and Fed policy uncertainty as sources of anxiety,” said Alec Young, the managing director of global markets research at FTSE Russell.
A timely resolution to U.S.-China trade tensions could add $25 to Apple’s share price within months, according to new research.
The company, often referred to as the eBay of Latin America, will invest more than expected in its Pago Payments system, according to BTIG.
Investing.com - The S&P; 500 closed flat on Friday as firmer retail sales pointing to underlying strength in the U.S. economy were countered by a slump in chip stocks, led by Broadcom.
On June 14, the broader market is likely to open on a negative note after closing in the green yesterday. Today at 7:00 AM EDT, S&P 500 Index futures, Nasdaq futures, and Dow futures were trading with 0.3%, 0.8%, and 0.2% losses for the day, respectively.
Investors are nervously eying increased Middle East tensions following recent oil tanker attacks. China delivered weaker economic data, while in the U.S. the latest retail sales report was a bit of a mixed bag.
The market’s preference for stasis is on display, as the Dow Jones Industrial Average dipped only slightly despite a wave of news that should have it moving one way or the other.
Investors seem eager to insure themselves against geopolitical tensions that have flared up in the Middle East and Hong Kong this week, with gold vaulting.
Analysts say that the event will be vital for the pharmaceutical company as it seeks to show investors it can build on a strong run in recent years.
The U.S. stock market was poised to open modestly lower on Friday, as upbeat news about retail sales offset signs of economic weakness in China and a downbeat forecast from a big semiconductor company.
Retail sales grew by 0.5% in May, below forecasts for 0.6%. April’s retail sales, however, were revised up to 0.3%, from a decline of 0.2%.
In the last month, 10 of 24 strategists tracked by Bloomberg cut 2019 profit estimates for the S&P 500. Ask the strategists and they say it all makes sense in a world where the only thing falling faster than earnings forecasts is bond yields. “We acknowledge that we underestimated the potential trade war damage,” said Brian Belski, chief investment strategist at BMO Capital Markets who this week cut his S&P 500 profit prediction to $165 a share from $174.