|Day's Range||25,988.10 - 26,162.28|
|52 Week Range||21,712.53 - 26,951.81|
Trump officially starts his 2020 campaign on Tuesday with a rally in Orlando, Florida, and appears to be road-testing some of the themes he’ll be touching on in the next 18 months, including stoking fear of a market meltdown. The president has claimed several times this year and as recently as Friday in a “Fox & Friends” interview that the U.S. stock market would be 5,000 to 10,000 points higher if the Federal Reserve hadn’t raised interest rates four times in 2018. “We have never had a president so aware of where the stock market is and how much it is up or down on the year,” Chris Rupkey, chief financial economist at MUFG Union Bank NA, said in an email.
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.
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.
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.
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%.
Stocks looks set for a lower open, with the Nasdaq taking the biggest hit following Broadcom’s earnings. Keep an eye on U.S. retail sales data.
The Dow lost 60 points, or 0.2%, by 9:49 AM ET (13:49 GMT), while the S&P; 500 rose 4 points, or 0.2%, and the tech-heavy Nasdaq composite slumped 42 points, or 0.5%.
Based on Thursday’s close at 26117, the direction of the June E-mini Dow Jones Industrial Average futures contract early Friday is likely to be determined by trader reaction to the pivot at 26090.
Investing - Stocks finished higher Thursday despite worries about Middle East tensions after two tankers were attacked in the Gulf of Oman.
Stocks were poised to open higher, supported by a rise in oil prices and continued optimism about an interest-rate cute by the Federal Reserve.
Investing.com – Shares of Disney racked up gains on Thursday, as Morgan Stanley (NYSE:MS) said it expected the media giant's streaming services would win over new subscribers faster than previously expected.
The Dow Jones Industrial Average looked set for a higher open, but it was oil prices in focus after two tankers caught fire off the Iranian coast, the result of possible attacks.
GE stock needs to close above $10.50, and turn that level into support. If it does, it could trade as high as $15.
Crude prices jumped 3.5% a barrel, just one day after hitting five-month lows, after two tankers were allegedly attacked in the Gulf of Oman, through which a fifth of global oil passes.
Right now, we believe the first rotation of our expected Pennant/Flag formation is starting to set up and we look for early signs in the DOW and TRAN charts.
Hong Kong's Hang Seng index fell 0.64%, as of its final hour of trading. The benchmark index had closed 1.73% lower on Wednesday, amid violent protests over a controversial extradition bill.
The three main U.S. stock indexes closed slightly in the red on Wednesday. Energy stocks were worst-performing sector, dragged down by slumping oil prices, while utilities rose as uncertainties drove investors to safer corners.
The early price action is inclusive, however, the early momentum suggests the market is headed lower. On the upside, the nearest resistance angle comes in at 26150. On the downside, the nearest support is the main Fibonacci level at 25898.