|Day's Range||24,628.39 - 24,804.76|
|52 Week Range||21,197.08 - 26,616.71|
Wall Street veteran Art Cashin says he's "stunned" that Walgreens will replace GE in the Dow but says it makes sense from a price basis.
Key stock index funds recovered some of their Tuesday losses, though the Dow Jones industrial average struggled to hold gains.
The Dow Jones Industrial Average got it half right in its latest shuffle. Walgreens’ heyday was a decade or more ago, when drugstore chains were hot growth companies. Walgreens, whose shares are up 3%, to $67.67, in trading on Wednesday, is the 102nd largest company in the S&P 500 index, with a market value of $64 billion.
Gold futures settle lower on Wednesday and mark a fresh nadir for 2018 as overall strength in dollar diminishes appetite for the yellow metal.
U.S. equity benchmarks mostly rose in afternoon trading on Wednesday, driven by a rally in technology shares, though the Dow struggled to hold on to gains and break its six-day losing streak. Were the Dow to extend that stretch to seven, it would still represent the longest since that month. The Nasdaq Composite Index (^IXIC) was up 69 points to 7,794 a gain of 0.9% that took it to a record.
The numbers: Existing-home sales ran at a seasonally-adjusted annual 5.43 million rate in May, down 0.4% from April, the National Association of Realtors said Wednesday. What happened: Sales of previously-owned homes fell for the second straight month, as a supply shortage continues to bite the market. In May, the median sales price for an existing home was $264,800, a 4.9% annual increase.
Paul Tudor Jones, a hedge-fund luminary, on Monday said the next economic downturn confronted by the U.S. could be an ugly one. “We’ll have monetary policy, which will exhaust really quickly, but we don’t have any fiscal stabilizers,” Jones said. Jones’s comments come after he told CNBC last week that stock market and bond yields are set for a ‘crazy’ rise.
The S&P 500 gained six points or 0.25% to 2,769.56 as of 9:41 AM ET (13:41 GMT) while the Dow composite increased 26 points or 0.11% to 24,664.33 and tech heavy NASDAQ Composite rose over 40 points or 0.52% to 7,766.07.
Treasury prices fell Wednesday, pushing up yields, after Federal Reserve Chairman Jerome Powell reasserted the need for gradual rate increases, citing a tight labor market. This comes a day after an escalation in the tit-for-tat trade skirmish between China and the U.S. drove investors to flee to the perceived safety of government paper. The 10-year Treasury note yield (XTUP:TMUBMUSD10Y=X) advanced 2 basis points to 2.913%.
Alphabet and Amazon probably will never be members of the Dow Jones industrial average, even though they represent what has become the most dominant sector of the economy.
Goldman Sachs tells its clients that recent stock removals from the Dow Jones industrial average outperform in the year after the announcement.
Goldman Sachs tells its clients that recent stock removals from the Dow Jones industrial average outperform in the year after the announcement. AT&T shares rose 15 percent in the 12 months after it was replaced by Apple in the Dow versus the S&P 500's 2 percent decline during the same time period. After more than 100 years as a component in the Dow Jones industrial average , Gene GE ral Electric GE will be replaced by drugstore chain Walgreens Boots Alliance WBA next week.
Inflation expectations are better anchored and policymakers are alertAndrew Harrer/BloombergFed Chairman Jerome Powell spoke at a forum in Portugal alongside ECB President Mario Draghi and Bank of Japan Governor Haruhiko Kuroda. The U.S. economy is not on the verge of repeating the outbreak of inflation last seen in the 1970s, despite the obvious parallel of tight labor markets, said Federal Reserve Chairman Jerome Powell on Wednesday. In a speech at a European Central Bank conference in Portugal, Powell said he didn’t see the two periods as exactly comparable.
Investing.com – U.S. futures were higher on Wednesday as trade tensions died down.The S&P 500 futures were up 10 points or 0.36% to 2,776.25 as of 6:45 AM ET (10:45 GMT) while Dow futures increased 127 points or 0.51% to 24,842.0. Meanwhile tech heavy Nasdaq 100 futures rose 26 points or 0.36% to 7,278.25.Trade tensions between the U.S. and China still remained on the back of investors minds, as the two largest economies in the world faced a tit-for-tat over trade tariffs.Stocks tumbled on Tuesday after U.S. ...
Shares of General Electric Co. slide 1.1% in early trade Wednesday, a day after the company was pushed out of the Dow Jones Industrial Average after being a member for 111 years. "The U.S. economy has changed: Consumer, finance, health care and technology companies are more prominent today and the relative importance of industrial companies is less," David Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, explained in Tuesday's announcement. "Today's change to the DJIA will make the index a better measure of the economy and the stock market." GE is being replaced by Walgreens Boots Alliance Inc. , which was up 3.3% in early trade.
On Monday President Trump directed the U.S. Trade Representative to prepare 10% tariffs on $200 billion worth of Chinese exports to the United States. China’s audacity in matching that move apparently enraged the president, who quadrupled down on his original tariffs. Another round of tit-for-tat tariffs would cover almost all of the $500 billion worth of goods the U.S. imports from China every year.
Ignoring the market jitters, a few stocks have managed to rise 10% or more in a month. Here we have highlighted five such stocks from the Retail-Wholesale sector.
The Dow Jones Industrial Average is bouncing back from yesterday's losses. •...highlight an upgrade of Citigroup (C). S&P 500 futures have advanced 0.3%, while Dow Jones Industrial Average futures have gained 110 points, or 0.5%, and is trying to break a six-day losing streak.
Based on the early price action, the direction of the September E-mini Dow Jones Industrial Average futures contract today will be determined by trader reaction to 24841 and 24704. Basically, look for an upside bias today on a sustained move over 24841, and for a downside bias to develop on a sustained move under 24704.
Dr. James Madara, the chief executive of the American Medical Association, wrote to U.S. government officials on Tuesday urging them to stop a "zero tolerance" policy toward undocumented immigrants that so far has separated about 2,300 immigrant children from their parents. At a recent policy-making meeting of the U.S.'s foremost doctors group, delegates said the policy "will do great harm to children and their parents or caregivers, who felt compelled to make a dangerous and uncertain journey because of safety concerns in their own countries," Madara wrote in the letter, which was made public early Wednesday. It is well known that childhood trauma and adverse childhood experiences created by inhumane treatment often create negative health impacts that can last an individual's entire lifespan." The Trump administration announced the zero-tolerance policy in early May and views separating children from their families as a deterrent to illegal migrants, according to a report.
Money flows give an edge to those who want to beat the market and lower their risk. There’s a big move right now in large-cap technology stocks brought about by President Trump’s trade agitations. Consider looking at money flows in those stocks, in addition to the Dow Jones Industrial Average (^DJI), SPDR S&P 500 ETF (SPY) and Invesco Nasdaq 100 ETF (QQQ).
Dow futures have a small spring in their step today, hinting at a comeback after the blue-chip gauge’s six-session skid. Or the nascent rally could stem from trade-war fears easing, though MarketWatch’s Mark Hulbert doesn’t buy that kind of explanation. “On the daily ‘500’ chart, note the backtest of the breakout area near 2,740,” the Arbeter Investments president writes in a note to clients, as he shares the illustration below.