|Day's Range||2,530.54 - 2,601.13|
|52 Week Range||2,530.54 - 2,940.91|
The highly-anticipated two-day FOMC meeting kicks off, FedEx and Micron report earnings and November homebuilding will be released on a busy Tuesday.
Investors are fleeing stocks and buying bonds in record numbers, according to a December survey of fund managers released on Tuesday.
Futures on all three major stock indexes were higher following their plunge on Monday. Investors are focusing on the Federal Reserve meeting that ends on Wednesday.
Futures pointed to a higher opening for Canada's main stock index on Tuesday as gold prices rose, with the U.S. dollar falling on expectations that the U.S. Federal Reserve will slow its pace of raising ...
To the disappointment of many investors, Chinese President Xi Jinping offered no fresh commitments to open or stimulate the world’s second-biggest economy in a keynote speech. The Stoxx Europe 600 Index initially followed suit, but recovered much of its loss as the session progressed. There seems to be little that can halt the sell-off in equities just now, so investors are increasingly pinning their hopes on the U.S. Federal Reserve taking a dovish turn this week.
Market technicals appear to be dictating the action, at least until the Federal Reserve takes the stage tomorrow.
One of the more cautious equity strategists alluded to this earlier in the week: Morgan Stanley’s Mike Wilson, in discussing the many signs investors were giving up on equities, found that as expectations for 2019 become more realistic, the groundwork may be "finally" setting up for rally. The action overnight may be just what Santa Claus needed to work up that rally bulls have been waiting for what seems like forever.
U.S. government debt prices rose on Tuesday as investors fled riskier assets and geared up for a key Federal Reserve meeting. The yield on the benchmark 10-year Treasury note sank to 2.826 percent while the yield on the 30-year Treasury bond dropped to 3.082 percent. The big news for traders this week is the Federal Open Market Committee's (FOMC) upcoming meeting, where the central bank will set interest rates.
The tech-heavy ChiNext gauge fell 0.5 percent and Hong Kong’s Hang Seng Index dropped 1.1 percent, wiping out an early advance. Trading volume on the Shanghai gauge was almost 30 percent below its 30-day average, according to data compiled by Bloomberg. Tax cuts may be top of the reform agenda for next year, the China Daily reported Tuesday, citing an unidentified tax administration official.
No new initiatives for reform measures were mentioned, and it ended up being a speech about what the nation’s Communist Party had done so far. Chinese and Hong Kong equities fell, and in Southeast Asia, several benchmark indexes including those of Singapore and the Philippines plunged by more than 1.3 percent as the U.S. stock carnage seeped into Asian markets.
In fact, were policy makers to follow through with their widely expected hike Wednesday, it would be the first time since 1994 they tightened in this brutal a market. Right now, the S&P 500 is down over the last three, six and 12 months, a backdrop that has accompanied just two of 76 rate increases since 1980. While half the S&P 500 sits in a bear market and groups like banks and transports tumble day after day, some key economic data bolster the case of hawks.
In some eyes, Xi Jinping may have blown a great opportunity to change the direction of China’s economy and industrial policies. By not making any major new announcements, the odds of an escalation of the tariff fight at the end of the 90-day negotiation period just increased.
March e-mini contracts on the S&P 500 were little changed as of 3:08 p.m. in Tokyo after rising as much as 0.5 percent earlier on Tuesday. The morning climb in stock-index futures came after a rout in the U.S. sent the S&P 500 Index to a more than one-year low. The MSCI Asia Pacific was down 1.1 percent.
Investing.com - Oracle (NYSE:ORCL) reported second quarter earnings that beat analysts' expectations on Monday and revenue that topped forecasts.
Instead, the S&P 500 Index is hurtling toward the second-worst December on record. “The stock market doesn’t care what looks good now. It’s wondering if fundamentals will deteriorate in the future,” said Peter Mallouk, co-chief investment officer of Creative Planning, which has around $36 billion under management.
Investing.com - Oil prices were mixed on Tuesday morning in Asia, with WTI crude oil slipping below the $50 mark for the first time in a year on a surge of production in the U.S. but Brent oil inching higher.
Investing.com - Asian markets slid in morning trade on Tuesday as growing fears over a slowdown in the global economy weighed on investor sentiment.
U.S. futures pointed to a partial recovery for the three major stock indexes at Tuesday's open after another sharp sell-off.
Gold has regained its shine, as volatile markets and a trade fight between the U.S. and China have boosted demand for the haven metal. Gold prices are up 4.7% this quarter and at their highest level in five months. A confluence of factors have aligned to lift gold prices this quarter.
Stocks in Asia were lower on Tuesday following an overnight sell-off on Wall Street sparked by concerns of a slowdown in the global economy. In an address to commemorate the 40th anniversary of China's economic reforms on Tuesday, Xi called for his country to "stay the course" on its current path of reform and emphasized that " no one is in a position to dictate to the Chinese people what should or should not be done. Xi's remarks were being closely watched as investors sought clues on whether the Chinese leader's idea of progress aligned with the West's increasingly vocal demands for less state control, which could have implications on whether the U.S. reaches a trade deal with China by the end of its 90-day tariff ceasefire.
Investing.com - The Dow closed sharply lower Monday as investors took some risk off the table ahead of the Federal Reserve decision later this week.
Small-caps started the year outperforming the S&P 500. But those the kinds of companies investors tend to flee late in a cycle when rates are rising and the economy looks set to slow.
Dec.17 -- Evan Lucas, chief market strategist at InvestSMART, talks about Federal Reserve policy, the U.S. economy and stocks. He speaks with Rishaad Salamat, Yvonne Man and Marc Cranfield on "Bloomberg Markets: China Open."