|Day's Range||25,784.90 - 25,888.82|
|52 Week Range||21,673.58 - 26,616.71|
The S&P 500 rose on Tuesday, stopping just short of ending its longest stretch without a closing record in two years. Signs of a buoyant labor market, strong consumer spending and extended corporate-earnings growth have helped U.S. stocks edge higher over the summer, even as worries about trade negotiations and fading growth in China cast a pall over major indexes elsewhere around the world. If the S&P 500 closes above the level, it will have cleared what some investors say has been a black mark for the stock market—reassuring those who have worried that a monthslong stretch without a new high pointed to broader weakness in the market.
In the week ending on August 10, US crude oil inventories were 1% above their five-year average. Oil inventories were higher than their five-year average for the first time since March 9. The difference is called the “inventories spread.” In the weeks before August 10, US crude oil inventories were inching towards their five-year average.
On August 20, US crude oil October futures rose 0.3% and settled at $65.42 per barrel. Short covering might have supported the oil prices. On the same day, the Energy Select Sector SPDR ETF (XLE) rose 0.7%. The small rise in energy stocks might have contributed to the 0.2% and 0.3% rise in the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA), respectively, on August 20. Read Oil Could Impact US Equity Indexes’ Upside to learn more.
The S&P 500 rose 7 points, or 0.27%, to 2,864.78 as of 9:40 AM ET (13:40 GMT), while the Dow increased 60 points, or 0.23%, to 25,819.15 and the tech-heavy Nasdaq Composite rose 24 points, or 0.31% to 7,845.25.
The Dow Jones Industrial Average and the Nasdaq Composite are on the climb too, as if all major benchmark indexes are holding hands to rally into a milestone some investors are celebrating. The Dow Jones Industrial Average has risen more than 100 points, or 0.3%, to 25,835.65. The Nasdaq Composite has gained 0.6% to 7870.56, proving technology stocks still have mettle. The expectation, following Monday's modest gains, seems to be that this bull will break a record on Aug. 22—the day some say this one will lap the 1990-2000 bull market and secure the title for longest secular bull run in history.
Looking Up. A weaker dollar was helping to boost stocks Tuesday morning, pushing the S&P 500 ever nearer to its all-time high. Medtronic, and Kohl’s reported before the open, while Myriad Genetics and Urban Outfitters are due after the close. In an interview, President Donald Trump criticized the U.S. Federal Reserve for raising interest rates, and that has added uncertainty to what had been all but certain.
Want to know why the Dow Jones Industrial Average is doing what it's doing? 7:37 a.m. You wouldn't think that an attack on the U.S. Federal Reserve by President Donald Trump would help boost the markets this morning, but that seems to be the case. S&P 500 futures have advanced 0.2%, while Dow Jones Industrial Average futures have risen 50 points, or 0.2%.
Earlier this year, President Trump imposed 10% tariffs on aluminum imports and 25% tariffs on steel imports. The tariffs imposed under Section 232 of the Trade Expansion Act of 1962 were intended to boost domestic steel and aluminum production. To be sure, US steel and aluminum producers like Alcoa (AA) have cited Chinese overcapacity coupled with the allegedly subsidized Chinese exports for a long time as their biggest woe.
Based on last week’s close and Monday’s price action, the direction of the September E-mini Dow Jones Industrial Average futures contract this week will be determined by trader reaction to the downtrending Gann angle at 25712.
Asia traded mostly up on Tuesday after, with Chinese mainland shares leading gains. Trade relations between the U.S. and China remain in focus as the two countries are set to hold discussions later this week. Chinese markets led gains on Tuesday in a mostly positive trading session across Asia, extending their upward climb from the previous day after the banking regulator urged institutions to boost lending in the country.
The Toronto Stock Exchange's S&P/TSX rose 7.32 points, or 0.04 percent, to 16,331.03. * Leading the index were Aurora Cannabis Inc, up 17.1 percent, Canopy Growth Corp, up 11 percent, and Trican Well Service ...
On August 10–17, US equity indexes reported gains. Last week, the Dow Jones Industrial Average (DIA), the S&P Mid-Cap 400 ETF (IVOO), and the S&P 500 Index (SPY) rose 1.4%, 0.7%, and 0.6%, respectively.
The Dow Jones Industrial Average and the S&P 500 were getting a defensive lift as materials, industrial and health care stocks charged ahead. The rally in materials, industrial, and health care stocks was pushing up the Dow Jones Industrial Average, which had risen more than 100 points or 0.4%, to 25,768.58, and the S&P 500, which had climbed 0.3% to 2857.74.
The S&P 500 rose 5 points, or 0.18%, to 2,855.18 as of 9:43 AM ET (13:43 GMT), while the Dow increased 93 points, or 0.36%, to 25,763.0 and the tech-heavy Nasdaq Composite lost 1 point, or 0.02% ,to 7,814.66.