|Day's Range||27,843.54 - 28,004.89|
|52 Week Range||21,712.53 - 28,004.89|
Henry Kissinger, with decades of experience of dealing with China, gives his assessment on the two countries' relationship.
(Bloomberg) -- The U.S. stock market just reached another milestone, as the Dow Jones Industrial Average passed the 28,000 threshold for the first time, extending its gain for the year to 20%.Apple Inc. led the rally, surging 68% in 2019 as the best performer in the 30-stock gauge. The iPhone maker has the third-highest weighting in the Dow average.While reaching all-time highs is nothing new for stocks this year, sentiment often gets an extra boost when major gauges take out round numbers, particularly from retail investors. Along with Apple, other household names in the blue-chip index have been surging. Microsoft Corp., Home Depot Inc. and Walt Disney Co. are among the almost one-third of Dow members up at least 30% this year.“When you have a market breaking new highs at the end of the year and breaking psychological barriers, that can create a situation where there’s FOMO, fear of missing out,” said Matt Maley, an equity strategist at Miller Tabak & Co. “For the individual investors, it gives them more confidence.”The index added 0.8% on Friday to close at 28,004.89.Sentiment is improving as the U.S. and China are poised to sign the first phase of a trade deal and after the Federal Reserve lowered interest rates three times this year. Fears the economy is headed toward a recession have receded. In their place are hopes for a pick-up in growth.While some strategists have warned about downside risk, including falling earnings and lingering uncertainty over trade, Willie Delwiche at Baird suggested the typical year-end buoyancy around holidays is likely to sustain market momentum over the short term.“At what point does that optimism become too excessive and lead to or necessitate a bit of a pullback?” Delwiche, an investment strategist at Baird, said by phone. “Optimism usually runs high this time of year, and so maybe the party can last a little longer than people are expecting.”\--With assistance from Vildana Hajric and Claire Ballentine.To contact the reporter on this story: Lu Wang in New York at email@example.comTo contact the editors responsible for this story: Brad Olesen at firstname.lastname@example.org, Jeremy Herron, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Key US indices continue to rush historical highs. Futures on S&P500; crossed the 3100 mark, adding one third to the price against the lows of the end of last year.
Based on the early activity and the current price at 27814, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Friday is likely to be determined by trader reaction to Thursday’s close at 27746.
The benchmark S&P 500 stock index posted a slim gain to end with a record closing high on Thursday, as a dour forecast from tech stalwart Cisco Systems was offset by a strong report from big box retailer Walmart. The Dow index ended barely negative, after posting a closing high on Wednesday, while the Nasdaq also ended fractionally lower.
Wall Street's main indexes slipped from near record levels on Thursday, as a dour forecast from tech stalwart Cisco Systems raised fresh questions about the global economy's health and overshadowed a strong report from big box retailer Walmart. Cisco shares tumbled 7.8% after the network gear maker forecast second-quarter revenue and profit below expectations as increasing global economic uncertainties kept clients away from spending more on its routers and switches.
U.S. stocks dipped on Thursday, weighed down by technology shares after Cisco's weak forecast raised worries of a slowdown in global economic growth, overshadowing strong results from big box retailer Walmart. The pullback in the benchmark S&P 500 and blue-chip Dow Jones Industrial Average came a day after they closed at record highs. Cisco Systems Inc tumbled 7.7% after it warned current-quarter revenue would drop 3% to 5% amid declining global spending on its routers and switches, some of which are made in China.
Investing.com – Wall Street was slightly lower on Thursday as concerns about global economic slowdown and a reported snag in U.S.-China trade discussions sent a wave of worry through the market.
The S&P 500 and the Dow Jones Industrial Average looked set to retreat from record levels on Thursday, as weak data from major economies and a dour forecast from Cisco rekindled fears of a global slowdown. Cisco Systems Inc fell 5.9% after the network gear maker said current-quarter revenue would fall 3% to 5% amid declining global spending on its routers and switches, some of which are made in China.
Based on Wednesday’s price action and the current price at $1464.20, the direction of the December Comex gold market late Wednesday/early Thursday is likely to be determined by trader reaction to the main Fibonacci level at $1471.00.
The Dow Jones Industrial Average and the S&P 500 posted record closing highs on Wednesday helped by a big jump in Walt Disney shares, but the Nasdaq fell as stocks were kept in check by fresh uncertainty over U.S.-China trade relations. The Wall Street Journal reported during the session that U.S.-China trade negotiations have hit a snag over farm purchases, the latest development in a dispute between the two countries that has convulsed markets for more than a year.
With the end of the year and the decade fast-approaching, Wall Street strategists have begun to deliver their expectations about where the stock market will close out 2020.
Based on the early price action and the current price at 27722, the direction of the December E-mini Dow Jones Industrial Average into the close is likely to be determined by trader reaction to Tuesday’s close at 27663.
The S&P 500 and Nasdaq stock indexes slipped on Wednesday on fresh uncertainty over U.S.-China trade relations, while a jump in Walt Disney shares boosted the Dow. Stocks pulled back in afternoon trading after the Wall Street Journal reported that U.S.-China trade negotiations have hit a snag over farm purchases, the latest development in a dispute between the two countries that has convulsed markets for more than a year.
Wall Street's main indexes rose on Wednesday as Federal Reserve Chair Jerome Powell said the domestic economy was in good shape and the central bank saw a "sustained expansion" ahead. This helped ease nerves on Wall Street which opened lower after President Donald Trump on Tuesday offered no new details on trade negotiations with China.
A day after President Donald Trump bashed the Federal Reserve for not pushing interest rates negative, Fed Chairman Jerome Powell told Congress that "would certainly not be appropriate."
Investing.com – In a tale of two stock markets, the Dow surged to new intraday and closing highs, while the other major indexes struggled.
Wall Street edged lower on Wednesday as President Donald Trump's threat to "substantially" raise tariffs if China did not make a trade deal with the United States as well as escalating tensions in Hong Kong kept investors away from riskier assets. Trump on Tuesday dangled the prospect of completing an initial deal with China "soon," but offered no new details on negotiations and largely repeated well-worn rhetoric about China's "cheating" on trade.