|Day's Range||2,820.19 - 2,841.36|
|52 Week Range||2,346.58 - 2,954.13|
The New York Stock Exchange, Nasdaq, and bond markets will be closed on Monday, May 27, as the U.S. observes Memorial Day and commemorates the men and women who lost their lives serving in the military. The markets are open the Friday before the federal holiday, but the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite will be at standstills on Monday. The Nasdaq has added 15%.
Data compiled by Ned Davis Research shows the S&P 500 would be 19% lower between 2011 and the first quarter of 2019 without buybacks. The other options for companies to deal with that cash — holding it, reinvestments and dividends — would have also led to lower returns. "Without focusing too much on numbers, we can say that the S&P 500 index would probably be lower today if not for buybacks versus other uses of cash," says Ed Clissold, chief U.S. strategist at Ned Davis Research.
“The Section 232 aluminum tariffs are a $350 million annual tax on beer,” Beer Institute President Jim McGreevy tells Barron’s. “That’s a drag on beer that wine and other spirits don’t have. McGreevy is referring to Section 232 of the Trade Expansion Act of 1962, which says a U.S. president can impose tariffs on foreign goods in the interest of national security. President Donald Trump imposed tariffs on imported steel and aluminum in March 2018, leading to a 35% increase in the price of aluminum shortly thereafter.
U.S. pension funds that rebalance their holdings on a monthly basis will need to buy more than $7 billion of American shares to return to prior asset-allocation levels following the latest market rout, according to estimates from Credit Suisse Group AG. The benchmark index has declined 4.1% this month, trailing a 0.9% gain in the Bloomberg Barclays U.S. Aggregate Bond Index. With U.S. stock exchanges closed Monday for Memorial Day, the market may be susceptible to a bigger-than-expected impact as funds try to settle trades in a holiday shortened week amid thin liquidity, according to JPMorgan.
The easiest headline to write last week was in the neighborhood of “Market Down on U.S.-China Trade Relations”. That may have been true per se, but the biggest reaction by stock market investors was to weaker-than-expected U.S. economic data.
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The Dow Jones Industrial Average jumped 95.22 points, or 0.37%, to close at 25,585.69. The S&P 500 added 3.82 points, or 0.14%, to end at 2826.06, and the Nasdaq Composite gained 8.73 points, or 0.11%, to close at 7637.01.
World equity markets rebounded on Friday from the previous day's sharp fall, after U.S. President Donald Trump said complaints against China's Huawei Technologies Co Ltd might be resolved within the framework of a Sino-U.S. trade deal. Tensions remained high, with China accusing U.S. Secretary of State Mike Pompeo of fabricating rumors after he said Huawei's chief executive was lying about the telecom network gear maker's ties to the Chinese government.
U.S. stocks rose Friday on thin volume before the holiday weekend, but the gains weren’t enough to compensate for a week of market turmoil stoked by trade tensions. The S&P 500 Index put in its third straight weekly decline as concerns mount that the trade dispute between the U.S. and China could cripple global growth, with disappointing American factory data Thursday hinting at the fragility of the expansion.
The Toronto Stock Exchange's S&P/TSX rose 65.43 points, or 0.40 percent, to 16,230.04. Leading the index were Aphria Inc, up 14.6 percent, Canfor Corp, up 5.1 percent, and New Gold Inc, higher by 4.7 ...
President Donald Trump lit the touchpaper days before, signing an order effectively curbing Huawei Technologies Co.’s access to the American market. The move against Huawei -- a metaphorical hand grenade in the heart of global tech -- has forced market participants to ditch the rose-tinted glasses. “The market needed an excuse to correct and the trade-war headlines were the trigger, but the underlying weakness is much more complex than that,” said Alberto Tocchio, the chief of Heron Asset Management, a Switzerland-based family office with 2.5 billion Swiss francs ($2.5 billion) under management.
Futures in New York rebounded somewhat on Friday but still ended the week down 6.6%, the biggest decline since late December, after days of escalating rhetoric between China and the U.S. Chinese envoy Cui Tiankai said the Asian nation was committed to striking a deal on Friday but said it’s ready to apply countermeasures to American sanctions. Oil plunged 5.7% in New York on Thursday as investors fled riskier assets following the White House’s blacklisting of Huawei Technologies Co. and several Chinese surveillance companies, moves that have been met with defiance by Beijing. A report showing U.S. crude explorers cut drilling activity last week may have eased concern over growing oil supplies, said Ashley Petersen, an oil analyst at Stratas Advisors LLC in New York.
"Another one we like is Morgan Stanley MS ," he said. Mark Newton, president and founder of investment consulting firm Newton Advisors, took more of a top-level approach to these high-yield opportunities. "I like consumer staples here," he told CNBC in the same interview.
The S&P 500 got hammered during the week as you can see, reaching down towards the uptrend line that I have marked on the chart. That being said, it’s very obvious that we have several levels of support underneath so we are going to test significant levels.
Prepare for more churn around these levels, said Mark Tepper , president of Strategic Wealth Partners. "We're really trying to target good companies that are big players in investible themes, and health care as a sector has struggled this year but it's been resilient over the past month. As the S&P 500 has tumbled 4% this month, the XLV health care sector ETF has held slightly positive.
The S&P 500 tried to rally during the trading session on Friday but failed as you can see. We ended up forming a less than impressive candlestick, which is something to pay attention to considering that we are going into the Memorial Day weekend.
Investing.com - The S&P; 500 ended higher Friday, as President Donald Trump offered some hope on a quick resolution to the U.S.-China trade war, but a warning from Beijing that it's not above launching further countermeasures against Washington kept gains in check.
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura. "Investors should be focused on the potential downside for global equities in the near term, given that sentiment is still pointing down," writes Masanari Takada. Investors have pointed to trade angst for a 1% decline in the Dow Jones Industrial Average and a 1.3% fall in the S&P 500 this week.
Oil and Broader Market Dragged the Energy Portfolio(Continued from Prior Part)US equity indexesIn the trailing week, US equity indexes had the following correlations with US crude oil active futures:the S&P 500 (SPY): 53.2%the S&P Mid-Cap
With three days of tweets and other trade-war related headlines ahead of us, traders might not want to be long when the market closes on Friday.