|Day's Range||24,459.03 - 24,750.22|
|52 Week Range||21,712.53 - 26,951.81|
All three major indexes surged more than 1%, but not all investors were happy. Tesla slumped and the government shutdown was in its 27th day.
The major benchmarks made gains, but Netflix fell despite reporting a strong quarter. Elsewhere, Apple and Johnson & Johnson announced a new collaboration.
U.S. stocks climbed Friday, notching their fourth consecutive week of gains, as the fears of an economic slowdown that gripped markets in December have subsided in the new year. Data showing a healthy labor market, as well as signals from central bankers that the Federal Reserve will be flexible with monetary policy, have offered relief to investors who were spooked late last year that the Fed’s pace of interest-rate increases could jolt an economy on shaky footing. “Investor sentiment has really improved from the turmoil just before Christmas,” said Brian Jacobsen, multisector strategist at Wells Fargo Asset Management.
Trade talk rumors are boosting an already healthy rally but the bad news may be that the markets are pricing in a favorable trade deal. The market has gone from dramatically oversold to overbought in a few weeks, making it vulnerable to downside risks. A major trade deal could have unintended effects on the U.S. economy.
Trade talk rumors are boosting an already healthy rally but the bad news may be that the markets are pricing in a favorable trade deal.
Broader Market Supported the Energy Portfolio(Continued from Prior Part)US equity indexesOn January 10–17, US equity indexes had the following correlations with US crude oil March futures:the S&P 500 (SPY): 95.5%the Dow Jones Industrial
The Dow Jones Industrial Average is up 1.1%, to 24,648.88 in recent trading. The S&P 500 and Nasdaq Composite are both surging 1.2%.
Investing.com – The Dow soared Friday, led by industrials, on optimism that China and United States would find a way to end their bitter trade dispute.
11:20 a.m. The Dow Jones Industrial Average has gained more than 200 points on reports that China has offered to eliminate its trade deficit with the U.S. by 2024. The Dow has risen 233.77 points, or 1%, to 24,603.87, while the S&P 500 has gained 1.1% to 2664.48, and the Nasdaq Composite has climbed 1.1% to 7162.20. Bloomberg reported that China had offered to reduce its trade deficit with the U.S. to $0 by 2024, the last year of President Donald Trump’s presidency if he were to get re-elected.
Based on the early price action and the current price at 24540, the direction of the March E-mini Dow Jones Industrial Average futures contract on Friday is likely to be determined by trader reaction to the downtrending Gann angle at 24460.
Broader Market Supported the Energy PortfolioOil pricesOn January 17, US crude oil March futures fell 0.5% and settled at $52.36 per barrel. Rising oil production in the United States and concerns surrounding global economic growth might have
Canada's main stock index rose on Friday, set for its fourth straight weekly gain, as an increase in oil prices lifted shares of energy companies. * At 9:32 a.m. ET , the Toronto Stock Exchange's S&P/TSX ...
STOCKSTOWATCHTODAY BLOG Hope Again. Stocks were climbing in premarket trading, as investors cheered a potential step closer to ending the trade war. The White House may be considering pulling back tariffs to incentivize China to make its own concessions and calm markets.
U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a rollback during trade discussions scheduled for Jan. 30, according to The Wall Street Journal.
Asia Pacific markets traded mostly higher on Friday as investors cheered a report saying American officials may be weighing the possibility of easing tariffs on China, in a bid to push forward trade talks. U.S. Treasury Secretary Steven Mnuchin proposed lifting all or some of the tariffs on Chinese imports to give Beijing a reason to make deeper concessions in ongoing trade talks between the two countries, The Wall Street Journal reported Thursday, citing sources.
Jim Cramer says U.S. investors seem to be willing to accept a bad trade deal with China if it means getting back to "business as usual."
The market jumped sharply following a report that U.S. officials are considering lifting tariffs on Chinese imports as a way to advance trade talks. Gains soon faded.
Stocks, which had been flat most of the day, spiked when The Wall Street Journal reported that the U.S. was considering new tactics in talks with China, including lowering tariffs. They pulled back when the White House denied the report.
U.S. stocks flipped between small gains and losses Thursday after two sessions of advances as investors parsed a raft of earnings reports and trade developments. Trade and other political uncertainties have helped depress investor sentiment in recent months, given the potential implications for economic growth and corporate supply chains. Among decliners, shares of Morgan Stanley fell 4.5% after the bank’s fourth-quarter profit missed expectations. The company’s lows of the day had put the stock on pace for its largest percentage loss since June 2016.
Will Oil End the Week on a Lower Note?US crude oil So far this week, US crude oil February futures have risen 1.4%. However, at 11:42 AM EST on January 17, US crude oil prices had fallen $0.52 from their last closing level. Lately, bearish EIA
The Nasdaq and S&P 500 were pushing ahead with small gains at noon on Thursday, after starting the day on a downbeat note.