|Day's range||2,792.56 - 2,805.83|
|52-week range||2,257.02 - 2,807.54|
Nearly 95% of top-performing equity mutual funds failed to replicate their success over a two-year period. Over five years, not a single one was able to do so, a new study shows.
Companies are starting to lay out just how much shareholders will benefit from lower corporate taxes. The answer is: a lot.
Chip-equipment stocks have led the market this week on strong earnings and guidance. Applied Materials, Lam Research, Ichor and Electro Scientific are near buys.
Weatherford International’s (WFT) management expects to improve profits by ~$1 billion in the next year and a half to two years. In the 3Q17 conference call, Mark A. McCollum, WFT’s CEO pointed out, “We’re pushing for transformational change with a target of $1 billion in profit improvements over the next 18 to 24 months. Read more about WFT in Market Realist’s Weatherford International: Valuation, Analyst Targets, and More.
Instead, the action was elsewhere, including the bond market, where the 10-year Treasury yield closed at 2.611%, and currencies, where the dollar fell against the euro, yen, and pound. Sears Holdings (SHLD) had its credit rating cut by Standard & Poor's, but its shares rose 4.6%, to $3.67, anyway.
The S&P 500 declined 0.2% to 2798.03 today, while the Dow Jones Industrial Average dropped 97.84 points, or 0.4%, to 26,017.81. As I noted earlier, it sure felt like investor attention was elsewhere, like on the U.S. Treasury market, where the 10-year yield has been slowly pushing higher. Investor also swarmed into Treasury inflation protected securities, or TIPS, anticipating inflation that hasn't shown up just yet.
On a day the indexes pulled back from recent record highs, Wyndham announced it is buying La Quinta, and Alcoa reported disappointing profits.
Losses among Boeing, General Electric and other big industrial companies weighed on U.S. stocks Thursday, pulling the market below the record highs it set the day before.
International Business Machines Corp. shares shed gains it had built up over the week in the extended session Thursday after the computer giant modestly topped Wall Street estimates for the quarter and ...