|Day's Range||2,743.19 - 2,765.05|
|52 Week Range||2,405.70 - 2,872.87|
“It’s never right against wrong, good against evil. The issues are always right against right," Goldman Sachs CEO Lloyd Blankfein said.
"If you roll this out over the next year, year and a half, someone’s going to have to blink, and it might have to be the United States."
Stock futures pointed to a firmer start for Wall Street Wednesday, as worries about a U.S.-China trade war appeared to ebb for now, tempting some investors to wade into a market that took a hard hit on those concerns a day earlier. Investors were also looking ahead to comments by Federal Reserve Chairman Jerome Powell and existing home sales data.. Dow Jones Industrial Average futures (YMU18.CBT) rose 113 points, or 0.5%, to 24,828, while S&P 500 futures (ESU18.CME) added 9.05 points, or 0.3%, to 2,775.25.
Paul Tudor Jones, a hedge-fund luminary, on Monday said the next economic downturn confronted by the U.S. could be an ugly one. “We’ll have monetary policy, which will exhaust really quickly, but we don’t have any fiscal stabilizers,” Jones said. Jones’s comments come after he told CNBC last week that stock market and bond yields are set for a ‘crazy’ rise.
World stocks steadied near three-week lows on Wednesday and Chinese markets bounced after recent sharp falls as expectations grew that policy stimulus by Beijing could temper some of the impact from an escalating Sino-U.S. trade conflict. The dollar too eased off 11-month highs against a currency basket (.DXY), Wall Street looked set for a stronger opening and MSCI's all-country equity index snapped a five-day run of losses, rising 0.3 percent (.MIWD00000PUS). One catalyst appeared to be a paper from China's central bank which suggested cutting banks' reserve requirement ratios (RRR), which would boost market liquidity and loosen monetary conditions.
U.S. stock index futures turned positive ahead of Wednesday’s open, as markets tried to reclaim some footing after losing significant ground in the previous session.
U.S. stock index futures turned positive ahead of Wednesday's open, as markets tried to reclaim some footing after losing significant ground in the previous session. U.S. stocks sank yesterday as trade tensions intensified, causing the Dow Jones industrial average to close down almost 300 points , having erased all of its gains for the year during the session. The gloomy mood across markets stems from Monday, when President Donald Trump requested the United States Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs, at a rate of 10 percent.
Many business executives, management consultants, financial analysts, and investors have ransacked lists of thriving companies, looking for shared characteristics that explain their success. The fallacy of selecting traits after identifying successful companies is known by a variety of names, including the “Feynman Trap” and the “Texas Sharpshooter Fallacy.” This latter fallacy supposes that a self-proclaimed (Texan) marksman shoots a bullet at a blank wall and then draws a bullseye around the bullet hole. In the same way, any group of companies (great, good, or bad) will inevitably have several common characteristics.
While the Dow index of 30 top-shelf U.S. corporations is arguably more well known, professional investors bet much more money on what happens to the S&P 500, an index in which the one-time leading U.S. company has only a tiny influence. GE's drop from the Dow will thus likely not pose a risk of wide selling pressure by indexed investment funds. "There's only a small group of investors who actually target their investing to the Dow Jones Industrial Average," said Rick Meckler, a partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.
Investing.com – Asian equities were mixed in morning trade on Wednesday as concerns over a looming trade war between U.S. and China continued to linger.
The S&P 500 of course fell overnight as the announcement of another $200 billion with the trade tariffs coming from the United States against China have gotten traders quite nervous. We have broken through the 2750 handle, and now have retested it as resistance.