93.07 +0.09 (0.10%)
After hours: 4:02PM EST
|Bid||0.00 x 100|
|Ask||0.00 x 200|
|Day's Range||92.06 - 94.47|
|52 Week Range||86.95 - 114.55|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.28|
|Expense Ratio (net)||0.35%|
Voting for Democrats was spectacular! A few weeks ago, we told investors that you really wanted to see the Democrats take the House. That way, we would get gridlock and a check on the president, maybe even some help with tariffs. Well, initially this looks to be right. The Dow Jones Industrials (DIA) are up 2% along with the S&P 500 (SPX), while the Nasdaq (QQQ) is up 2.5%. So far, so good.
October was the worst month for the S&P 500 Index (SPY) since September 2011. The index fell 7.3% in the month. The fall started after Federal Reserve Chair Jerome Powell stated that the economy no longer needed the policies that had been put into place during the 2008 financial crisis, such as record low interest rates.
Semiconductor stocks took a hit Friday amid a sweeping technology rout, but were still on track for their best week in more than two years.
The chip space and Nvidia in particular have been hit hard this month, but JPMorgan believes the company's about to turn a corner.
Western Digital (WDC) announced its first quarter of fiscal 2019 results on October 25. The company reported revenue of $5.03 billion and non-GAAP (generally accepted accounting principles) EPS of $3.04. Analysts had estimated revenue of $5.14 billion in the first quarter with EPS of $3.04. While WDC met analyst estimates for the quarter, the company’s sales were below estimates.
When the chips are down, it sometimes spells trouble for the broader market, and that's what's worrying some investors this week.
Only the most defensive sectors escaped Wall Street's severe rout, which thumped chip stocks and most other equity ETFs Wednesday.
Semi stocks got crushed on Wednesday ahead of chipmaker Advanced Micro Devices' earnings report after the bell.
The semiconductor earnings season began with TSMC (TSM) reporting better-than-expected third-quarter earnings but releasing weaker guidance for the seasonally strong fourth quarter. Analysts use TSMC’s earnings to forecast semiconductor demand, as it manufactures chips for various chip giants like NVIDIA (NVDA), Huawei, and Apple (AAPL).
Chips stocks are showing signs of life, but Oppenheimer's Ari Wald says the rebound will be short-lived.
This year has been slow for semiconductor stocks due to growing trade tensions between the United States and China. The stock market has witnessed three sell-offs in 2018 so far: one on February 8, one on March 23, and one on October 11, Advanced Micro Devices (AMD) and its peers Intel (INTC) and NVIDIA (NVDA) were not much affected by the first two sell-offs, as they enjoyed strong demand momentum in the CPU (central processing unit) and GPU (graphics processing unit) spaces.
Semiconductor (SMH) stock Advanced Micro Devices (AMD) fell 11.1% on October 19 to close trading at $23.66. New Street Research analyst Pierre Ferragu has a 12-month price target of $18 for AMD. Ferragu stated, “AMD’s stock price reflects a scenario we don’t believe possible.
What Texas Instruments’ Q3 Results Could Bring for InvestorsRaymond James analyst warns of a cyclical downturn
In October, fund managers rotated to energy and material stocks while divesting growth and cyclical stocks. The overweight position in technology stocks declined significantly. As we highlighted in As Tech Leads the Market Decline, What are Investors Eyeing, tech stocks were the frontrunners in the sell-off as they are the same companies that have seen huge upward runs in 2018.
ESPO provides targeted exposure to “the future of sports”: video game and related software developers, streaming services, companies involved in eSports events, and more
Gold, Miners Have Surged on the Market Rout—What’s the Upside? In the current sell-off, technology companies (XLK) (SMH) are leading the decline. Investors’ stretched valuation concerns have been especially acute in the US tech space, meaning that tech stocks are much more vulnerable to higher interest rates.
AMAT stock was impacted by the company’s third-quarter 2018 results (year ending in October). Applied Materials expects revenue of $4 billion with EPS of $0.96 in Q4 2018, which is more than 10% lower than Wall Street revenue estimates of $4.5 billion and EPS projections of $1.17. The ongoing trade war and the earnings cliff have impacted several semiconductor stocks.
October started with a sharp drop in the stock markets as the Federal Reserve increased interest rates by 25 basis points to 2.25%. This was the highest interest rate level since 2008 when the Fed cut rates to near zero to tackle the recession. The stock market reacted after a few days as investors adjusted their financial models.