|Day's Range||8,477.49 - 8,535.46|
|52 Week Range||6,190.17 - 8,589.76|
With the end of the year and the decade fast-approaching, Wall Street strategists have begun to deliver their expectations about where the stock market will close out 2020.
The dollar gained and global equity markets rose on Friday on upbeat U.S. economic data while amicable messages from Chinese President Xi Jinping and U.S. President Donald Trump helped ease recent tensions over the prolonged U.S.-Sino trade war. Equity markets warmed to China's renewed offer to reach a trade agreement with the United States, with Xi saying China wants to work out an initial pact with the United States and has been trying to avoid a trade war. Trump reciprocated, saying a trade deal with China is "potentially very close" and that he stands with both the people of Hong Kong and Xi amid massive protests in the former British colony.
The dollar gained and global equity markets rose on Friday on upbeat U.S. economic data while amicable messages from Chinese President Xi Jinping and U.S. President Donald Trump helped defuse tensions over the prolonged U.S.-Sino trade war. Government bond yields mostly rose as U.S. manufacturing output accelerated in November to its fastest pace in seven months and a survey of purchasing managers showed services activity also picked up more than expected. Equity markets warmed to China's renewed offer to reach a trade agreement with the United States.
The S&P 500 and Dow indexes treaded water on Thursday as mixed headlines on U.S.-China relations and a diplomatic row over the Hong Kong protests added to uncertainty over the timing of a "phase one" trade deal. The U.S. House of Representatives passed two bills to back protesters in Hong Kong and send a warning to China about human rights, a measure which angered Beijing.
Wall Street's main indexes fell on Thursday after conflicting headlines on U.S.-China trade relations and a row between the world's top two economies over the Hong Kong protest added to doubts whether a deal could be reached by the end of this year. President Donald Trump is expected to sign legislation passed by Congress backing protesters in Hong Kong, despite delicate trade talks with Beijing.
The three major U.S. indexes fell on Thursday after conflicting headlines on U.S-China trade relations and a row between the world's top two economies over the Hong Kong protest led to uncertainty over the timing of a deal to end the dispute.
The only worry is, will a rally driven by over-optimism, end with a sell-off driven by excessive pessimism? In other words, we don’t know at this time if the correction will end with a soft-landing or a hard crash.
(Bloomberg) -- The S&P 500 Index posted its biggest loss in a month after a report that Washington and Beijing are unlikely to reach a trade deal this year. The dollar rose and oil jumped.Telecom companies and automakers led losses on the gauge after Reuters said that a pact may be delayed, though the index pared losses following a report that progress is being made. The developments came after China threatened to retaliate for the Senate’s passage of a bill that sought to support Hong Kong’s autonomy from Beijing. The House votes on the measure later Wednesday.After reaching fresh highs Monday, U.S. stocks have retreated on concern about the outlook for trade. While investors are sensitive to any reports on the economy, the potential of a detente between China and the U.S. had driven gains this year that left stocks poised for their best performance since 2013.“The market for most of the year has been trading off of trade -- trade hope and trade fear,” said Ed Clissold, chief U.S. strategist at Ned Davis Research Inc. “There were expectations over the last several weeks that some sort of interim deal would get done. And the reality of the situation is setting in.”Oil jumped, paring Tuesday’s more-than 3% loss, as American crude stockpiles rose less than expected and inventories at a key storage hub shrank by the most since August. Ten-year Treasury yields sank to a two-week low.Travel and leisure companies led the retreat in the Stoxx Europe 600 index. Swedbank AB dropped after a report that American authorities are investigating possible breaches of sanctions against Russia by the Swedish lender.Hong Kong shares fell along with Japanese and South Korean benchmarks. Australian equities slumped after allegations of financial crimes at Westpac Banking Corp. hit financial stocks.Here are some key events coming up this week:U.S. economic indicators due for release include initial jobless claims on Thursday.Federal Reserve speakers this week include district bank presidents Loretta Mester and Neel Kashkari.European central bankers speaking this week include European Central Bank President Christine Lagarde, Bundesbank chief Jens Weidmann, along with Yves Mersch, Luis de Guindos, Pablo Hernandez de Cos and Philip Lane.These are the main moves in markets:StocksThe S&P 500 Index fell 0.4% at the close of trading in New York.The Stoxx Europe 600 Index dropped 0.4%.The MSCI Emerging Markets Index fell 0.5%.CurrenciesThe Bloomberg Dollar Spot Index gained 0.2%.The euro fell 0.1% to $1.1072.The British pound decreased 0.1% to $1.2918.The Japanese yen was little changed at 108.58 per dollar.BondsThe yield on 10-year Treasuries sank five basis points to 1.73%.Germany’s 10-year yield dipped one basis point to -0.35%.Britain’s 10-year yield was little changed at 0.73%.Japan’s 10-year yield sank three basis points to -0.124%.CommoditiesWest Texas Intermediate crude increased 3.4% to $57.11 a barrel.Gold was little changed at $1,472.34 an ounce.\--With assistance from Emily Barrett, Adam Haigh, Robert Brand and Sophie Caronello.To contact the reporters on this story: Sarah Ponczek in New York at firstname.lastname@example.org;Claire Ballentine in New York at email@example.comTo contact the editors responsible for this story: Samuel Potter at firstname.lastname@example.org, ;Jeremy Herron at email@example.com, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Federal Reserve officials appear to be on pause after cutting rates by 75 basis points, according to minutes covering the Fed’s October policy-setting meeting.
Wall Street's main indexes were lower on Wednesday on concerns that a "phase one" trade deal between Washington and Beijing may not be completed this year, and minutes from the Federal Reserve's October policy meeting offered little help. Investors appeared to be more focused on a Reuters report that completion of an initial U.S.-China trade deal could slide into next year as Beijing presses for tariff rollbacks. Earlier, a U.S. Senate measure aimed at protecting human rights in Hong Kong amid prolonged protests had escalated tensions with China and pressured the market.
Wall Street's main indexes edged lower on Wednesday as escalating tensions between Washington and Beijing raised doubts about a trade deal, overshadowing upbeat earnings from retailers Target and Lowe's. China condemned a U.S. Senate measure aimed at protecting human rights in Hong Kong amid prolonged protests, while U.S. recession fears also crept back, with the gap between two-year and 10-year Treasury yields at its narrowest in three weeks.
Competition in the U.S. is dead while Europe is benefiting from the free market system and that's having a negative impact on average Americans, NYU professor and economist Thomas Philippon said.
Investing.com – Stocks were slumping Wednesday afternoon as investors wrapped their arms around the idea a Phase One trade deal between the United States and China is stalled and probably won't get signed this year.
The warnings signs are there for investors to at least lighten up on the long side in the stock market. My advice is to start looking for value areas and to try to avoid investing on the fear that you are going to miss a major rally.
NEW YORK, Nov 19 (Reuters) - The Dow Jones Industrial Average fell from record levels while the S&P edged lower on Tuesday as dour forecasts from retailers Home Depot Inc and Kohl's Corp fueled worries about consumer spending as the U.S.-China trade dispute dragged on.
The Dow Jones Industrial Average fell from record levels while the S&P was flat on Tuesday as dour forecasts from retailers Home Depot and Kohl's fueled worries about consumer spending while uncertainty over the U.S.-China trade dispute simmered in the background. The tech-heavy Nasdaq was the best-performing of the three indexes, with support from Facebook Inc and Broadcom Inc helping to counter a drag from Qualcomm after the chip maker held an investor meeting.
The S&P 500 and the Dow Jones indexes slipped from record levels on Tuesday as dour forecasts from Home Depot and Kohl's eroded confidence on the strength of U.S. consumer spending ahead of the all-important holiday shopping season. The tech-heavy Nasdaq rose 0.24%, supported by gains in shares of Microsoft Corp, Facebook Inc and Broadcom Inc.
Other retail stocks also fell on the news, driving the S&P 500 retail index down 1.1%. Seven of the 11 major S&P 500 sectors were lower, with the consumer discretionary index's 0.82% drop weighing the most.