|Day's Range||25,507.18 - 26,320.29|
|52 Week Range||21,712.53 - 27,398.68|
Another wild week in the markets sent the Dow more than 600 points lower last Friday alone, as investors considered the latest escalations in the U.S.-China trade war. Against this back-drop, this week is poised to be another busy one for markets.
As President Donald Trump pushes the Fed to weaponize its monetary policy against other countries, central bankers in Jackson Hole this week called for more coordination.
It’s a particularly busy week ahead. The markets will need to monitor updates from the G7 summit, chatter on trade, Brexit and the stats.
The announcement caught traders off-guard and they responded in textbook fashion by buying safe-haven Treasury bonds, Japanese Yen and gold, while selling higher-yielding U.S. stocks. However, the moves were muted as investors put faith in Powell’s ability to soothe the sudden volatility.
“We can, however, try to look through what may be passing events, focus on how trade developments are affecting the outlook, and adjust policy to promote our objectives,” he added.
Federal Reserve Bank of Cleveland President Loretta Mester said interest rates are around "neutral," suggesting that she does not see the case for another rate cut yet.
U.S. stocks fell after President Donald Trump wrote in a series of Twitter posts that he would be ordering U.S. companies to “immediately start looking for an alternative” to their business operations in China.
Trade tensions have compounded with country-specific weaknesses to further mire the global growth outlook, said the International Monetary Fund’s chief economist.
Wall Street plunged in a broad sell-off on Friday as China and the United States traded their latest salvos in a prolonged trade war, spooking investors and erasing slight gains following a generally positive speech by U.S. Federal Reserve chair Jerome Powell. Trump pressed American companies to leave China in response to an earlier announcement from Beijing that it would impose a new round of retaliatory tariffs on an additional $75 billion in U.S. goods, upping the ante in an acrimonious trade war that has roiled markets for months and shown little sign of abating.
U.S. stock indexes slumped nearly 2% on Friday after President Donald Trump told U.S. companies they should look for ways to close their China operations, following Beijing's announcement that it would impose retaliatory tariffs on U.S. goods. Trump's assertion that the U.S. would be "far better off" without China wiped out what would have been Wall Street's first weekly gain since July, while also knocking back the impact of a speech by Federal Reserve Chief Jerome Powell supporting further cuts in interest rates.
Investing.com – Stocks tumbled Friday as the U.S.-China trade dispute intensified and President Donald Trump announced he was ordering U.S. companies with China facilities to move them somewhere else.
WASHINGTON/BEIJING (Reuters) - U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world's two largest economies. Trump's move, announced on Twitter, came hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. goods, prompting the president earlier in the day to demand U.S. companies move their operations out of China. The intensifying U.S.-China trade war stoked market fears that the global economy will tip into recession, sending U.S. stocks into a tailspin, with the Nasdaq Composite down 3%, and the S&P 500 down 2.6%.
U.S. stocks fell on Friday after China threatened to impose additional tariffs on $75 billion worth of U.S. goods, ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell. China's latest tariffs, which follow U.S. duties on $300 billion worth of Chinese goods, threaten to prolong an ongoing trade war between the world's top two economies that has raised concerns about slowing global growth. China's commerce ministry said it would impose additional tariffs on thousands of U.S. products, including agricultural products, crude oil, small aircraft and cars.
Futures reverse early gains after China escalates the trade war with new tariffs, Jerome Powell’s speech to the Jackson Hole Symposium is still a threat to market sentiment.
Investing.com - U.S. stocks traded lower Friday after Federal Reserve Chairman Jerome Powell reiterated that the central bank will act “as appropriate” to sustain the economy, in a speech that also blamed trade policy for much of the global economic slowdown.
Based on the early price action and Thursday’s close at 26225, the direction of the September E-mini Dow Jones Industrial Average on Friday is likely to be determined by trader reaction to the short-term 50% level at 26215.
Stocks, the dollar and oil prices fell on Friday while safe havens rose after President Donald Trump demanded U.S. companies look at alternatives to China for manufacturing, following Beijing's retaliatory tariffs on American goods. China's Commerce Ministry said in a statement early on Friday it would impose tariffs on about $75 billion in imports from the United States including some agricultural products, crude oil and small aircraft.
All eyes will be on Federal Reserve Chairman Jerome Powell Friday morning when he speaks at the Fed’s annual Jackson Hole Economic Policy Symposium.
An index of stock markets worldwide crept lower on Thursday on uncertainty over the outlook for U.S. interest rate cuts and weak U.S. manufacturing data that raised concerns about the health of the world's largest economy. U.S. manufacturing industries in July recorded their first month of contraction in almost a decade amid concerns about whether the U.S.-China trade conflict would tip the economy into a recession, a private survey showed. "Manufacturing has been pretty weak across the globe for a while now and we are starting to see that bleed into the U.S.," said Joe Mallen, chief investment officer at Helios Quantitative Research.
The benchmark S&P 500 struggled for direction on Thursday as strong results from Nordstrom Inc and a fall in U.S. jobless claims offset data showing a contraction in U.S. manufacturing activity. Stocks initially rose at the market open as shares of Nordstrom jumped after the department store's quarterly profit beat estimates, joining Target Corp and Lowe's Cos Inc in delivering upbeat retail numbers.
Worries about future economic rough patches have been heating up in recent weeks, but there is a financial playbook for navigating the next recession.