|Day's Range||27,804.00 - 27,949.02|
|52 Week Range||21,712.53 - 28,174.97|
Headlines moving the stock market in real time.
Wall Street's main stock indexes were little changed on Tuesday, hovering near record highs, as investors awaited concrete news on whether U.S. tariffs on Chinese imports would take effect on Dec. 15, a potential turning point in the two countries' trade dispute that has convulsed markets. Stock futures got a boost in premarket trade when the Wall Street Journal said U.S. and Chinese trade negotiators are laying the groundwork for a delay in the tariffs. “The markets are totally holding their breath right now,” said Nela Richardson, investment strategist at Edward Jones.
Investing.com - Stocks overall pulled back modestly Tuesday, despite nibbling at energy, health care and tech stocks, as investors await trade news and a decision from the Federal Reserve.
With the trade war continuing to take a toll on global growth, markets have been hoping for a possible delay in tariffs and looking for positive headlines on trade talks between the two sides. "It's probably the best the market can expect right now," said Robert Pavlik, chief investment strategist and senior portfolio manager at SlateStone Wealth LLC in New York. The Wall Street Journal also reported that officials from both sides hinted at extending trade talks.
Based on the early price action and the current price at 27869, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Tuesday is likely to be determined by trader reaction to the pivot at 27755.
Besides the trade deal deadline, investors are monitoring Washington politics, the North American Free Trade Agreement deal and the U.K. Brexit vote later this week.
The dollar eased and global stock markets slipped on Tuesday as uncertainty kept risk appetite in check days ahead of the Dec. 15 deadline for a new round of U.S. tariffs on Chinese imports. Investors were again torn between remarks that suggested a positive outcome to the 17-month U.S.-Sino trade war but also indicated a deal might not come until after U.S. presidential elections in November 2020. Prospects for an initial "phase one" trade deal look good, acting White House Chief of Staff Mick Mulvaney said at a Wall Street Journal event.
U.S. stocks pulled back on Monday from near-record levels, as Apple and healthcare shares fell and investors braced for a busy week of political and economic news, including a potential turning point in the U.S.-China trade dispute. Investor hopes of at least an initial U.S.-China agreement have helped push major stock indexes to record highs, with the benchmark S&P 500 hovering about 0.5% below its all-time high. "The market is ... in a little bit of a wait-and-see mode," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana.
Investing.com - Stocks moved lower on Monday ahead of a Federal Reserve meeting this week and on worries about U.S.-China trade talks.
"There is optimism about the potential of a roll back or some positive news on trade that is keeping stocks where they are," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The latest data from China showed exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from trade tensions.
The S&P 500 and Nasdaq indexes edged higher on Monday, with investors keeping a close watch on headlines around U.S.-China trade as planned tariffs on Chinese imports kick in on Dec. 15. Beijing and Washington are negotiating a first phase trade deal aimed at de-escalating tariff disputes but they continue to wrangle over key details.
Based on the early trade and the current price at 27989, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Monday is likely to be determined by trader reaction to the downtrending Gann angle at 28037.
Traders are cautious on Monday with an important vote in the UK and a tariff deadline for China on the calendar.
Investing.com - Dow component 3M (NYSE:MMM) slid in midday trading Monday following a sell-side downgrade citing litigation overhang concerns over perfluoroalkyl and polyfluoroalkyl substances (PFAS).
With the OPEC news out of the way, traders will return to monitoring the progress of the U.S.-China trade negotiations and the rising U.S. supply. Some traders are still uncertain about whether the OPEC deal will be enough to trim the global supply enough to offset the rising U.S. output and the drop in global demand growth.
China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand. Top White House economic adviser Larry Kudlow said on Friday that a December 15 deadline is still in place to impose a new round of U.S. tariffs on some $156 billion of China’s remaining exports to the United States.
By the end of the week, the stock market ship had righted itself, moving higher on the back of fresh data on the labor markets and the stunning report on consumer sentiment. Both reports underscored the overall health of the U.S. economy while putting the major equity markets in a position to retest all-time highs this week.
2019 has been a tough year for oil companies, but some of the oil majors have fared surprisingly well due to their economies of scale advantage and low breakeven prices per barrel
The Federal Open Market Committee’s (FOMC) last policy-setting meeting of this year and November’s retail sales data will take centerstage this week.
It’s a big week ahead, with the ECB, the FED, trade, and the UK General Election in focus. Expect the stats to play second fiddle in the week.
Wall Street ended solidly higher on Friday as a strong jobs report and optimism about U.S.-China trade negotiations ahead of an upcoming deadline helped stoke investor risk appetite. The Dow and the Nasdaq ended the session down from last Friday's close. "This type of report shows underlying economic strength, and it gives corporate management confidence in the strength of the economy," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.