|Day's Range||25,350.02 - 25,608.71|
|52 Week Range||23,242.75 - 26,951.81|
At the end of a tumultuous week, few investors took note that Friday was the 31st anniversary of Black Monday—Oct, 19, 1987. The Dow popped up 548 points on Tuesday, but that amounted to less than a tenth of the percentage change of Black Monday. Black Monday’s significance, more than being the single worst day for stocks in U.S. history, is that it established what became known as “the Greenspan put.” To counter the feared economic impact of a stock-market meltdown, the Fed under then-Chairman Alan Greenspan cut interest rates, stoking a huge bond rally, which led to a recovery in equities.
Investing.com - The S&P 500 closed just below the flatline Friday as upbeat earnings from corporates helped ease investor jitters about global growth.
The Dow Jones Industrial Average gained 104.35 points, or 0.4%, to 25444.34 last week, while the S&P 500 squeaked out a 0.65 point rise to 2767.78, and even the Nasdaq Composite finished off just 0.6%, to 7449.03.
Investing.com - Gold prices settled a touch lower on Friday on profit-taking from recent gains, but a weaker dollar and geopolitical worries still helped bullion coast to a third weekly gain.
Stocks dipped on Friday, dragging a global index into a fourth consecutive weekly loss, while the euro and sterling rallied against the dollar after a report said Britain is ready to drop a key Brexit ...
Stocks should continue to rise despite near-term volatility in the market, strategist Bob Doll says. Stocks were well off their session highs early afternoon Friday after falling Thursday. Stocks should continue to rise despite near-term volatility in the market, strategist Bob Doll told CNBC on Friday.
The Dow Jones Industrial Average plummeted 22.6 percent on Oct. 19, 1987, also known as "Black Monday," which amounted to 507.99 points at the time. A 22.6 percent plunge on the 30-stock Dow today would amount to a 5,735.76-point loss. For context, the biggest one-day point loss on the Dow took place on Feb. 5, when it closed down 1,175.21 points.
Investing.com - The Dow rebounded on Friday as Procter & Gamble posted stronger-than-expected earnings results, ending a week of volatile trading on Wall Street.The S&P 500 rose 13 points, or 0.47%, to 2,781.88 as of 9:38 AM ET (13:38 GMT), while the Dow increased 102 points, or 0.41%, to 25,482.37 and the tech-heavy Nasdaq Composite was up 53 points, or 0.72%, to 7,538.93.P&G (NYSE:PG) was up 6.24% after the consumer goods giant reported diluted earnings per share of $1.22.PayPal (NASDAQ:PYPL) was among other gainers, surging 9. ...
It’s hard to be downbeat on a Friday, and stocks are reflecting an improved mood on Wall Street. Chinese markets rebounded overnight and earnings reports from PayPal (PYPL) and (PG) (PG) created some confidence. China’s third-quarter gross domestic product was the weakest since the financial crisis, which might have sunk stocks again Friday, had not government agencies come out in a chorus of confidence about the economy.
On October 11–18, US equity indexes had the following correlations with US crude oil December futures: the S&P Mid-Cap 400 (IVOO): 54.4% the Dow Jones Industrial Average (DIA): 53.6% the S&P 500 (SPY): 43.3%
J.P. Morgan's Marko Kolanovic told clients Friday that a combination of technical factors should lead to a market bounce during the session and into next week. "Given the rapid selloff yesterday, the reverting feature of yesterday's option hedging impact should have a positive market impact today," he said. Kolanovic has blamed the recent sell-off on so-called systematic strategies like risk parity funds and options hedging rather than fundamental forces.
In the third quarter, China’s GDP grew 6.5% on a YoY (year-over year) basis—the weakest pace since 2009. A Reuters poll indicated that the growth rate would cool at 6.6%. The ongoing trade war with the US will likely weaken China’s growth rate.
Is the Sell-Off in US Steel Stocks Overdone? Steel prices are the key driver of steel companies’ earnings. Earlier this year, spot HRC (hot rolled coil) prices hit a decade high, with prices topping $900 per ton.
STOCKSTOWATCHTODAY BLOG 6:35 a.m. After getting clobbered on Thursday, stocks are trying to make a comeback. It’s a tepid one at best. S&P 500 futures have advanced 0.2%, while the Dow Jones Industrial Average” futures have risen 62 points, or 0.
Today we look at China's big-guns response to tepid economic data, volatility in U.S. markets, how trade tensions could lock U.S. hog farmers out of the world's biggest pork market, and more speculation on where Amazon will plunk its HQ2. While the economy remains on track to meet Beijing’s full-year growth target of about 6.5%, the third-quarter performance underscores recent trouble—a scaleback of industrial production, slowing retail sales, anemic big-ticket investments and rising corporate defaults, Lingling Wei reports.
Investing.com - Asian stocks fell in morning trade on Friday after official data showed China’s economy slowed more than expected in the third quarter of 2018.
The Dow Jones Industrial Average tumbled more than 300 points as geopolitical tensions and worries about the state of the global expansion renewed concerns over the durability of the longest bull market rally ever. Losses accelerated throughout Thursday’s session, pulling the Dow industrials down as much as 471 points at one point, as investors confronted several more threats to the market, including companies struggling with rising costs, further instability in the European Union and increasing pressure between the U.S. and Saudi Arabia. While the selloff was broad, investors culled risky stocks from their portfolios, punishing shares of fast-growing companies that have led the market higher this year.
Investing.com - American Express (NYSE:AXP) reported third quarter earnings that beat analyst's expectations on Thursday and revenue that topped forecasts.
After a turbulent morning, Greater China markets rebounded strongly, following a series of measures by China's securities regulator to support the struggling stock market. China's GDP numbers showed its economic growth slowed to 6.5 percent year-over-year in the third quarter of 2018. Stocks in Asia were mixed on Friday after China's GDP growth for the third quarter of 2018 came in below expectations.
Investing.com – The Dow tumbled on Thursday, led by a plunge in tech stocks as fears over steeper U.S. rates and a slowdown in China prompted investors to abandon risk assets.
CNBC's Jim Cramer explains how strong earnings can take the guesswork out of your next investment. The "Mad Money" host also hears from a former Victoria's Secret executive who now runs a cannabis company. "In a sell-off during earnings season, you can't have a lot of guesswork.
CNBC's Jim Cramer says there's "no cause" for the Federal Reserve to raise interest rates four more times. Stocks tanked on Thursday because people are finally realizing that the Federal Reserve has the power to hurt stocks and slow the economy, CNBC's Jim Cramer said after the Dow Jones Industrial Average fell more than 300 points. "This is one of those moments where it's dawning on people that maybe all the assurances that we don't need to be afraid of the Fed are being proven to be totally bogus," the "Mad Money" host said.
There still may be more selling ahead for the stock market, says top technician Ralph Acampora. There still may be more "dramatic" selling ahead for the stock market, top technician Ralph Acampora told CNBC on Thursday.