|Day's Range||6,945.27 - 7,205.37|
|52 Week Range||6,630.67 - 8,133.30|
Trade has become the driving theme for investors, and with trade optimism fading and the market selling off in response, what investors saw last week could be a preview of things to come next year.
Sunday's drop in futures comes after China summoned the U.S. ambassador to Beijing on Sunday to protest Huawei CFO Meng Wanzhou's detention. The arrest is seen as a potential deterrent to the U.S. and China reaching a permanent deal on trade. Huawei is one of the largest tech companies in China and is seen as symbol of pride by the Chinese government.
Stocks could continue to take a beating and aim for a retest of lows, after one of the most brutal weeks for the market this year.
It’s the worst start to a December in a decade. The Dow Jones Industrial Average tumbled 2.2% to 24,388.95. The S&P 500 fell 2.3% to 2633.08, and the Nasdaq Composite plunged 3.1% to 6969.25.
Two of the biggest tech companies, Apple and Google parent company Alphabet, are now down for the year as markets slid on Friday. The Nasdaq Composite Index slipped 3.1 percent Friday. Apple and Alphabet have recently faced heavy speculation.
No rest for a weary Wall Street. Stocks are getting crushed again. Plus, Apple is tumbles again as another bank gets bearish. It’s the call of the day. And, what does the jobs report mean for the Fed’s calculus and the markets? Plus, there’s more intrigue on the Huawei case that roiled markets this week. We have the latest. Catch The Final Round at 3:30 p.m. ET with Myles Udland and Seana Smith.
Conclusion: My point is this: When I hear people say they are happy to pay 12.5 times for Apple, you have to put that into context of WHEN Apple will start reaccelerating its growth to make that valuation is worth it. Buying too far ahead of an earnings/cyclical trough is very dangerous, UNLESS the price gives you some major cover by just getting too cheap to ignore. But beware that gulf before growth starts again. Time usually should be your guide.
After inching upward in early trading, the three major U.S. stock indexes were back in the red on Friday afternoon, hurt by a downbeat jobs report.
11:41 a.m. The Dow Jones Industrial Average looks set on trying to erase yesterday’s reversal following a disappointing payrolls report and more comments on trade with China. The S&P 500 has fallen 1.4% to 2657.46, while the Dow Jones Industrial Average has dropped 390.05 points, or 1.6%, to 24,557.62. The Nasdaq Composite has slumped 1.8% to 7,056.86.