NYSE Dow Jones finished today at:

[bigdog]

Sea of Green

Stocks in the U.S. and Europe jumped Friday as renewed hopes for progress in trade talks between the U.S. and China helped the markets finish the week with another strong gain.

Stocks Keep Climbing as Hopes for US-China Trade Deal Rise
U.S. stocks surge to their fourth weekly gain in a row as investors grow more optimistic about trade talks between the U.S. and China.
Jan. 18, 2019, at 4:25 p.m.

https://www.usnews.com/news/busines...se-stocks-rise-on-hopes-for-us-trade-progress

Stocks Keep Climbing as Hopes for US-China Trade Deal Rise
U.S. stocks surge to their fourth weekly gain in a row as investors grow more optimistic about trade talks between the U.S. and China.
Jan. 18, 2019, at 4:25 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks in the U.S. and Europe jumped Friday as renewed hopes for progress in trade talks between the U.S. and China helped the markets finish the week with another strong gain.

Indexes jumped after Bloomberg News reported that China's government offered to buy more goods and services from the U.S., potentially eliminating its trade deficit by 2024. For investors, the encouraging news on trade builds on recent positive signs for the U.S. economy and indications from the Federal Reserve that it will be patient when considering future interest rate hikes.

The Dow Jones Industrial Average is up 5.9 percent and the S&P 500 index has risen 6.5 percent so far this year, a surprisingly strong showing coming off a punishing end to 2018.

Technology and industrial companies made some of the top gains, while banks rose after more of them release their fourth-quarter reports. Oil and copper prices rose, while gold and bond prices fell. Those are all signs traders felt more optimistic about global economic growth.

Over the last few days investors grew steadily more hopeful the U.S. and China are narrowing their differences. On Wednesday the Chinese government said the top trade envoys from both countries will meet at the end of January.

"What you can see that is significant is that both sides are trying," said Tom Martin, senior portfolio manager of Globalt Investments. "Everybody feels like they've now made their point" after the two nations spent most of 2018 staking out positions and occasionally making threats.

Martin said the Federal Reserve has also made a big contribution to the rally.

The S&P 500 climbed 34.75 points, or 1.3 percent, to 2,670.71. The Dow jumped 336.25 points, or 1.4 percent, to 24,706.35. The Nasdaq composite added 72.76 points, or 1 percent, to 7,157.23.

Stock indexes have surged since reaching a low point on Christmas Eve, as the S&P 500 has risen for four weeks in a row. It climbed a 2.9 percent gain this week. It's risen at least 1.9 percent every week during that rally. The last time the index rose at least 1.5 percent for four weeks in a row was in early 2009, in the wake of the financial crisis, according to LPL Financial Senior Market Strategist Ryan Detrick.

The U.S. trade imbalance with China has been a source of constant complaints from President Donald Trump during the wide-ranging trade dispute. That deficit grew to a record $323.3 billion in 2018, and eliminating it could mean hundreds of billions of dollars in increased sales for U.S. companies. The two countries have raised taxes on billions of dollars of each other's goods in the spat over the trade deficit, Beijing's manufacturing plans, and U.S. complaints that China steals technology from foreign companies.

Stocks sank in late 2018 as investors worried that global economic growth, and U.S. growth in particular, would slow by more than they thought. Threats including the U.S.-China trade dispute, rising interest rates in the U.S., slowing growth in China and Europe, and unstable political situations like Brexit all made it seem like 2019 could be a disappointing year and some investors felt a recession was a possibility.

But now they're starting to think it won't get that bad. There are signs trade talks are progressing. The U.S. economy doesn't appear to have slowed much and China is working to perk up its economy. Resolving the trade dispute would also resolve an obstacle to growth for the global economy and corporate profits. The S&P 500, the main benchmark for U.S. stocks, fell 19.8 percent from late September to late December and has recovered more than half of those losses.

Trucking and logistics company J.B. Hunt Transportation jumped 6.2 percent to $106.11 and railroad company Kansas City Southern climbed 6.1 percent to $110.52 after their fourth-quarter reports.

European stocks jumped. Germany's DAX climbed 2.6 percent and the FTSE 100 in Britain rose 2 percent. The French CAC 40 gained 1.7 percent.

Faster growth would mean more demand for oil, and prices climbed. U.S. crude rose 3.3 percent to $53.80 in New York. Brent crude, used to price international oils, added 2.5 percent to $62.70 a barrel in London.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 percent from 2.74 percent. High-dividend stocks like utilities lagged the rest of the market. They tend to rise when investors are worried about the economy.

Tesla fell 13 percent to $302.26 after the company said it would cut 7 percent of its jobs. CEO Elon Musk said the cuts are meant to reduce costs as the company lowers the price for its cars. He said in a note to staff that the road ahead is "very difficult."

Asian stocks also finished higher. Hong Kong's Hang Seng gained 1.2 percent and the Nikkei 225 in Japan rose 1.3 percent. Seoul's Kospi added 0.8 percent.

In other commodities trading, wholesale gasoline rose 1.6 percent to $1.45 a gallon and heating oil added 1.6 percent to $1.92 a gallon. Natural gas jumped 2 percent to $3.48 per 1,000 cubic feet.

Gold dropped 0.8 percent to $1,282.70 an ounce and silver fell 0.9 percent to $15.40 an ounce. Copper rose 1.5 percent to $2.72 a pound.

The dollar rose to 109.79 yen from 109.23 yen. The euro fell to $1.1370 from $1.1390.

1704

 

[bigdog]

NYSE was closed for Martin Luther King, Jr. Day Monday, January 21 2019

https://www.usnews.com/news/busines...rkets-advance-on-optimism-over-china-us-trade

Stocks Subdued as Chinese Growth Falls to Weakest Since '90
World stock markets are subdued after China reported that its economy expanded by its slowest pace since 1990.

By ELAINE KURTENBACH, AP Business Writer

BANGKOK (AP) — World stocks were subdued Monday after China reported its slowest economic expansion in 30 years and the International Monetary Fund cut its forecasts for global growth this year.

KEEPING SCORE: Germany's DAX fell 0.6 percent to close at 11,136.20 while the CAC 40 in France slipped 0.2 percent to 4,867.78. Britain's FTSE 100 added less than 0.1 percent to 6,970.59. Wall Street remained closed for Martin Luther King Jr Day.

THE DAY IN ASIA: The Shanghai Composite Index added 0.6 percent to 2,610.51 and Hong Kong's Hang Seng index climbed 0.3 percent to 27,196.54. Japan's Nikkei 225 index rose 0.3 percent to 20,719.33, while South Korea's Kospi was flat at 2,124.61. The S&P ASX 200 in Australia added 0.2 percent to 5,890.40. India's Sensex surged 0.7 percent to 36,633.37. Shares rose in Southeast Asia and Taiwan.

CHINA'S ECONOMY: The 6.6 percent expansion of the world's second-largest economy was down from 2017's 6.9 percent and the weakest since 1990. China's communist leaders are trying to steer the country to slower, more self-sustaining growth based on consumer spending instead of trade and investment. But the slowdown has been sharper than expected, prompting Beijing to ease lending controls and step up government spending to shore up growth and avoid politically dangerous job losses. The lackluster data raised hopes for more policy action.

CHINA-US TRADE: Stock markets had been buoyed Friday by a Bloomberg News report that Chinese officials offered to buy more goods and services from the U.S., potentially eliminating its trade deficit by 2024. The Chinese government says the top trade envoys from both countries will meet at the end of January. The U.S. trade deficit with China grew to a record $323.3 billion in 2018. The two countries have raised taxes on billions of dollars of each other's goods in the spat over the trade deficit, Beijing's manufacturing plans, and U.S. complaints that China steals technology from foreign companies.

WORLD OUTLOOK: The IMF cut its forecast for global growth this year to 3.5 percent, from the 3.7 percent it had predicted in October and down from 2018's 3.7 percent. In its report, presented on the sidelines of the World Economic Forum in Davos, Switzerland, it cited the impact of global trade disputes as well as rising interest rates.

ENERGY: U.S. crude fell 8 cents to $53.72 per barrel in electronic trading on the New York Mercantile Exchange. It rose 3.3 percent on Friday to $54.04 in New York. Brent crude, used to price international oils, shed 16 cents to $62.60 per barrel. It added 2.5 percent to $62.70 a barrel in London on Friday.

 

[samso]

I forgot there was a holiday in the !!! got into positions and then sat and looked at how nothing happened.... now its moving....

 

[bigdog]

Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China. That broke a four-day winning streak for U.S. indexes.

https://www.usnews.com/news/busines...ecline-on-concerns-over-global-china-slowdown

Stocks Sink on Growth Fears and Possible Snag in Trade Talks
Stocks take a steep loss to end a four-day winning streak after the International Monetary Fund cut its annual growth forecast for the global economy.
Jan. 22, 2019, at 4:44 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks fell sharply Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China. That broke a four-day winning streak for U.S. indexes.

Major global indexes traded lower after the International Monetary Fund trimmed its economic forecasts for 2019 and 2020 and pointed to risks including trade tensions and rising interest rates. China's government said its economy grew in 2018 at the slowest pace since 1990. U.S. stocks took further losses after the Financial Times reported that the Trump administration canceled a proposed a meeting with Chinese trade officials this week.

Technology and internet companies skidded while energy companies sank with oil prices. Industrial companies also fell, hurt by the slower growth forecast and trade concerns as well as some weak fourth-quarter earnings. Bond prices climbed as investors looked for safer investments.

"We began last year, 2018, with a synchronized global recovery, and what we have now is a slowdown globally," said Quincy Krosby, chief market strategist at Prudential Financial. She said the reported difficulty in trade talks "has shaken up confidence that the U.S. and China are moving closer in the negotiating phase."

The S&P 500 index lost 37.81 points, or 1.4 percent, to 2,632.90. The Dow Jones Industrial Average slid 301.87 points, or 1.2 percent, to 24,404.48. The Nasdaq composite fell 136.87 points, or 1.9 percent, to 7,020.36.

The IMF is now says the global economy will grow 3.5 percent this year, down from its previous forecast of 3.7 percent. It cut its estimate for growth in 2020 to 3.6 percent from 3.7 percent. Earlier in the day, China reported its economy expanded by 6.6 percent in 2018.

Lately, global markets have rallied as investors began to feel that a slowdown in the world economy might not be that painful. The S&P 500 is up 5 percent in 2019 and has jumped 12 percent since hitting its recent low on Dec. 24. But Tuesday's losses were a reminder that investors will remain sensitive to clues that the global economy is weakening, and the trade dispute may be the top threat to economic growth.

According to the Financial Times, two officials were scheduled to travel to the U.S. ahead of meetings between the U.S. and China's top trade representatives next week. It said the meetings were canceled because of a lack of progress on some critical issues, which underscores how far apart the two sides remain.

Technology and industrial companies took some of the worst losses. Farm equipment company Deere fell 3.5 percent to $158.84. Among technology companies, chipmakers absorbed sharp losses. Nvidia fell 5.2 percent to $148.77.

Aluminum products maker Arconic slumped 16 percent to $17.09 after it said it is no longer considering a sale. Formerly a part of aluminum giant Alcoa, Arconic said it didn't receive any offers it thought were in its best interests. The stock has gyrated over the last few months following reports the company was considering a sale.

Power tools maker Stanley Black and Decker sank 15.5 percent to $115.69 after its forecast for 2019 fell short of Wall Street estimates.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.74 percent from 2.78 percent.

Homebuilders also sank after U.S. home sales cratered in December and price growth declined to the lowest level in more than six years. The National Association of Realtors said Tuesday that sales of already-built homes plunged 6.4 percent. Years of rising prices and the more recent increase in mortgage rates have both affected sales, as has the limited number of homes available for sale.

EBay jumped 6.1 percent to $32.90 after activist investment firm Elliott Management disclosed a 4 percent stake in the online marketplace and pushed it to make changes. It said eBay's classifieds and StubHub ticket resale division are both struggling, and eBay should consider separating them from its marketplace business.

British Prime Minister Theresa May presented her Plan B for Britain's exit from the European Union on Monday, but it looks a lot like the original and it's not clear if she can win approval in Parliament, which gave her previous plan a resounding "no" last week. The European Union has said it won't renegotiate that deal.

Britain is scheduled to leave the European Union in a little more than two months, and if it doesn't have a trade deal in place, it could cause major hardships for numerous companies, especially banks.

U.S. crude lost 2.3 percent to $52.57 a barrel in New York. Brent crude, used to price international oils, fell 2 percent to $61.50 a barrel in London.

The British FTSE 100 index slid 1 percent. Germany's DAX and CAC 40 in France both gave up 0.4 percent.

Japan's Nikkei 225 index shed 0.5 percent and the Kospi in South Korea sank 0.3 percent. Hong Kong's Hang Seng lost 0.7 percent.

In other commodities trading, natural gas dropped 12.7 percent to $3.04 per 1,000 cubic feet. Wholesale gasoline fell 3.5 percent to $1.40 a gallon and heating oil lost 0.8 percent to $1.90 a gallon. Gold rose 0.1 percent to $1,283.40 an ounce and silver slipped 0.5 percent to $15.33 an ounce. Copper fell 2.2 percent to $2.66 a pound.

 

[bigdog]

U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren't sure how much longer it will last.

https://www.usnews.com/news/busines...es-mixed-on-worries-over-us-china-trade-talks

US Stocks Waver as Signs of Future Profit Growth Wobble
Stock indexes meander and finish slightly higher after IBM and Procter & Gamble report impressive results, but oil prices slip for the third time in four days.
Jan. 23, 2019, at 4:56 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stock indexes spent Wednesday drifting and finished with small gains. While big companies continue to report strong profit growth, investors aren't sure how much longer it will last.

The S&P 500 index rallied 0.8 percent in the morning after fourth-quarter earnings from major companies including IBM, consumer products maker Proctor & Gamble, and manufacturer United Technologies. Later, traders focused on some less encouraging quarterly reports and the muddled state of trade talks between the U.S. and China, and the S&P 500 lost 0.8 percent before it gradually turned higher.

Corporate profit growth shot higher in early 2018 after the Republican-backed corporate tax cut, but Liz Ann Sonders, chief investment strategist for Charles Schwab, said corporate profits are now growing at a slower clip because of economic weakness in Europe and China and a steep decline in oil prices.

"Even if we end up with the best case scenario on trade, it doesn't alleviate... global growth slowing, earnings uncertainty with regard or 2019, (or) monetary policy," she said.

Smaller companies lagged Wednesday, and most of the companies listed on the New York Stock Exchange finished with losses. Energy companies fared the worst as the price of crude oil fell for the third time in four days after a strong start to 2019.

The S&P 500 added 5.80 points, or 0.2 percent, to 2,638.70 after a 1.4 percent loss Tuesday. The Dow Jones Industrial Average climbed 171.14 points, or 0.7 percent, to 24,575.62.

The Nasdaq composite edged up 5.41 points, or 0.1 percent, to 7,025.77. The Russell 2000 index of smaller-company stocks dipped 3.20 points, or 0.2 percent, to 1,454.26.

IBM rocketed 8.5 percent to $132.89 after its fourth-quarter results surpassed Wall Street estimates. Investors were also pleased with the company's forecasts for 2019. BMO Research analyst Keith Bachman said critical operations including IBM's business and technology services divisions did well in the quarter. IBM stock sank 25 percent in 2018.

Tide, Bounty and Crest maker Procter & Gamble rallied 4.9 percent to $94.84 after its profit came out ahead of expectations and its sales were well above analyst forecasts as well. The company said its annual profit and sales could be slightly stronger than it previously expected.

Elevator and jet engine maker United Technologies staged its biggest rally in almost a decade, rising 5.1 percent to $116.67 following its quarterly report. Media company Comcast jumped 5.5 percent, its biggest gain in almost three years, after it picked up more internet subscribers and got a revenue boost from Sky, its big bet on European TV. The stock closed at $36.89.

The corporate tax cut might aid U.S. company profits on a permanent basis, but as investors compared 2018 to the year before, the tax cut caused a big one-time increase in profit growth. Investors have always known that boost wouldn't be repeated in 2019, and in recent months they've become more pessimistic, wondering if growth will slow down dramatically or if profits might even start shrinking in the months ahead.

Sonders, of Charles Schwab, added that consumer confidence has been slipping, and the partial shutdown of the federal government, which has lasted a month, could make matters worse. She said numerous companies that perform contract work for the government might have to start laying off workers soon.

Federal employees will miss their second consecutive paycheck Friday unless there is a deal to end the shutdown before then.

Stocks had slumped Tuesday as investors reacted to signs of slower global economic growth, including a weakened forecast from the International Monetary Fund. They also worried about possible trouble in trade talks between the U.S. and China.

White House economic adviser Larry Kudlow denied media reports saying the U.S. had turned down an offer by Chinese trade officials to meet this week, due to a lack of progress on issues such as protection of intellectual property. Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer are scheduled to meet next week.

"It's frustrating for investors who are trying to get a sense of what's happening when you have members of the administration often contradicting each other," said Sonders.

Other corporate reports were less encouraging. Abbott Laboratories, which makes Ensure and Pedialyte nutritional shakes, heart devices and medications, fell 2.2 percent to $69.91 after its revenue disappointed investors. Credit card issuer Capital One shed 6.2 percent to $78.20 after its profit and revenue both fell short of expectations.

Bond prices dipped. The yield on the 10-year Treasury note rose to 2.74 percent from 2.73 percent.

U.S. crude oil lost 0.7 percent to $52.62 per barrel in New York. Brent crude, used to price international oils, fell 0.6 percent to $61.14 per barrel in London.

The British FTSE 100 gave up 0.8 percent. France's CAC 40 slipped 0.1 percent and the German DAX shed 0.2 percent. Britain's FTSE 100 lost 0.5 percent.

Japan's Nikkei 225 index shed 0.1 percent. South Korea's Kospi rose 0.5 percent and Hong Kong's Hang Seng was almost flat.

In other commodities trading, wholesale gasoline slipped 1.1 percent to $1.39 a gallon and heating oil fell 0.7 percent to $1.89 a gallon. Natural gas shed 2 percent to $2.98 per 1,000 cubic feet. Gold was unchanged at $1,284 an ounce and silver rose 0.4 percent to $15.38 an ounce. Copper slipped 0.2 percent to $2.65 a pound.

 

[bigdog]

U.S. stocks finish mostly higher after a second consecutive day of mixed trading, as strong results from chipmakers are partly balanced by losses for drugmakers.

https://www.usnews.com/news/busines...es-buoyed-by-us-earnings-upbeat-talk-on-china

Stocks Waver Again as Chipmakers Jump and Drug Companies Dip
U.S. stocks finish mostly higher after a second consecutive day of mixed trading, as strong results from chipmakers are partly balanced by losses for drugmakers.
Jan. 24, 2019, at 4:48 p.m.

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Stocks finished mostly higher Thursday as another day of mixed trading showed the market's recent rally losing some strength. Chipmakers rose, while drugmakers fell.

Chipmakers Xilinx and Lam Research soared and many of their peers also climbed as investors, many of whom have been pessimistic about demand for computer chips recently, saw signs of life in the business. The Philadelphia Semiconductor Index rose to its highest level since early December. Airlines also rose after several strong quarterly reports.

About two-thirds of the stocks on the New York Stock Exchange closed with gains, but major stock indexes didn't move much. Drugmakers including Merck and Pfizer took sharp losses, and spice maker McCormick had its biggest drop in 13 years. Other household products companies also sank.

The S&P 500 index rose 3.63 points, or 0.1 percent, to 2,642.33. The benchmark U.S. index is up 12.4 percent over the last month, but it's slipped 1.1 percent this week after big gains in each of the past four weeks. The Dow Jones Industrial Average dipped 22.38 points, or 0.1 percent, to 24,553.24.

Thanks to the big gains for technology companies, the Nasdaq composite added 47.69 points, or 0.7 percent, to 7,073.46. The Russell 2000 of small-company stocks gained 10.15 points, or 0.7 percent, to 1,464.41.

Brad McMillan, chief investment officer for Commonwealth Financial Network, said Wall Street analysts had become pessimistic in the last few months and thought this round of company earnings might be a big disappointment. As a result, they cut their forecasts for companies.

"There's an expectation that things are going to be terrible, but in fact things aren't terrible at all," he said. McMillan added that results from banks have been good, which suggests the U.S. economy is in decent shape.

"That's a sign, for all the worries about the economy, that things aren't as bad as people think they are," he said.

Xilinx surged 18.4 percent to $106.06 after its third-quarter results topped expectations. The company said it's benefiting from the expansion of 5G wireless networks in South Korea and preparations for deployment in China and North America, while several automakers are talking about using Xilinx products in autonomous cars. It made its biggest gain in 27 years.

Lam Research gained 15.7 percent to $161.20, its best day in 14 years, and Texas Instruments rallied 6.9 percent to $102.09 after their reports. Intel, the world's largest chipmaker, gained 3.8 percent to $49.76.

But if the companies are on the road to recovery, the ride doesn't look smooth. Intel tumbled 7.1 percent in aftermarket trading after its fourth-quarter results and its forecasts for the current year both disappointed investors.

American Airlines rallied 6.4 percent to $33.66 after reporting solid results in its latest quarter, and Southwest climbed 6.3 percent to $54.21. Southwest said the partial shutdown of the federal government could cost it up to $15 million in revenue this month, echoing Delta's statement that it could lose $25 million in revenue. While that's noticeable, it's a relatively small portion of their total revenue.

Among drug companies, Merck fell 3 percent to $73.17 and Pfizer lost 2.9 percent to $40.95 while Eli Lily slid 3.2 percent to $114.99.

McCormick slumped 10.5 percent to $124.35 after its quarterly profit and revenue both fell short of expectations. Investors were also disappointed with the spice and seasonings company's forecasts for 2019. The company has dramatically outperformed the broader stock market for the last few decades, and Thursday was its largest loss since September 2005.

Utility company PG&E surged 74.6 percent to $13.95 after investigators ruled that the company was not at fault for a North California wildfire that killed 22 people in 2017. The stock has plunged since November on concerns the company might be liable for billions of dollars in damages caused by that fire, and for the Camp Fire of 2018, which killed at least 86 people and destroyed 15,000 homes.

Those potential liabilities pushed the company to file for bankruptcy this month.

The European Central Bank did not change its interest rates or its projection for when it might start raising them. European Central Bank head Mario Draghi says risks to the European economy are increasing and the bank is ready to "adjust all of its instruments" if it runs into serious trouble.

The ECB is aiming to raise rates even though the European economy has cooled as countries including Germany have lost some strength. Schroders Investment Strategist Marina Severinovsky said the bank probably should have started raising rates in 2017, when the global economy was growing at a stronger pace.

"The ECB probably missed a key opportunity when markets were riding high," she said. "That may have been a time to move with more decisiveness."

Bond prices moved higher. The yield on the 10-year Treasury note fell to 2.71 percent from 2.75 percent.

U.S. crude oil rose 1 percent to $53.13 per barrel in New York. Brent crude, used to price international oils, slipped 0.1 percent to $61.09 per barrel in London.

Wholesale gasoline and heating oil both finished little changed, at $1.39 a gallon and $1.89 a gallon, respectively. Natural gas jumped 4 percent to $3.10 per 1,000 cubic feet.

The dollar edged up to 109.67 yen from 109.59 yen. The euro fell to $1.1299 from $1.1383.

Germany's DAX climbed 0.5 percent and the French CAC 40 rose 0.7 percent. The FTSE 100 in Britain slid 0.3 percent.

Hong Kong's Hang Seng picked up 0.4 percent and Japan's Nikkei 225 index declined 0.1 percent

 

[bigdog]

Upbeat session elevates ASX to two-month high
AGE - Saturday, 26 Jan 2019 - Page 67

Australian shares ended the week on an upbeat note, as gains in yield friendly utility and real estate companies helped push the benchmark to a two-month high.

The S&P/ASX 200 Index rose 39 points, or 0.7 per cent, to 5905 on Friday, while the All Ordinaries Index rose 40 points, or 0.7 per cent, to 5917. The Australian dollar traded at US70.97¢.

Over the week, the benchmark index rose 26 points, or 0.4 per cent, to 5905, while the All Ordinaries Index rose 29 points, or 0.5 per cent, to 5917.


Stocks closed higher on Wall Street Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped.

https://www.usnews.com/news/busines...es-rise-on-optimism-over-china-us-trade-talks

Tech Rises, but Four-Week Winning Streak for Stocks Ends
US stocks finish broadly higher as technology companies jumped. Other companies that stand to benefit from faster economic growth, like industrials and retailers, also rose.
Jan. 25, 2019, at 4:54 p.m.

By MARLEY JAY and DAMIAN J. TROISE, AP Markets Writers

NEW YORK (AP) — Stocks closed higher on Wall Street Friday, recovering a chunk of their losses from earlier in the week. Technology and industrial companies jumped.

Traders took a brighter view on the economy, and U.S. companies continued to report solid results for the fourth quarter. Energy and consumer-focused companies as well as basic materials makers all did better than the broader market. Those industries and stocks tend to benefit the most when economic growth improves.

Markets didn't react much to news that President Donald Trump and congressional leaders reached a deal to reopen the federal government for three weeks while talks continue over Trump's demands for money to build a wall along the U.S. border with Mexico.

Trump announced the agreement to break the 35-day impasse as delays at airports and widespread disruptions brought new urgency to efforts to end the partial shutdown. Trump almost immediately threatened another shutdown or emergency action if he does not get a "fair deal."

The S&P 500 surged 10 percent during the shutdown, which started when the stock market was at its low point in December. Some experts feel that the standoff won't have a lasting effect on the market or the economy, with government employees resuming their spending as soon as they are repaid for their work in January.

But Kristina Hooper, chief global market strategist for Invesco, said the magnitude of the shutdown might have major effects on consumers' confidence.

"If the government can't work together in times where there are no real crises, imagine what would happen in an environment where there was a real crisis," she said. "It's hard to envisage Congress and the executive branch putting their differences aside and working together."

She added that the government's dysfunction might contribute to the U.S.' credit being downgraded, and if that happens, investors are likely to flee the stock market and pour money into the bond market. That's what they did when the country's credit rating was cut in 2011.

The S&P 500 index rose 22.43 points, or 0.8 percent to 2,664.76, but the index fell 0.2 percent for the week after big gains in the past four. The Dow Jones Industrial Average added 183.96 points, or 0.7 percent, to 24,737.20.

The Nasdaq composite climbed 91.40 points, or 1.3 percent, to 7,164.86. The Russell 2000 index of smaller company stocks increased 18.45 points, or 1.3 percent, to 1,482.85.

Hard drive maker Western Digital vaulted 7.5 percent to $43.16 after the company said it expects business to improve in the second half of its fiscal year. That overshadowed a weaker-than-expected second quarter. Competitor Seagate Technology also gained 6.6 percent to $43.66.

Other tech stocks also climbed. Apple rose 3.3 percent to $157.76. Those gains outweighed disappointing quarterly results and weak forecasts from the world's largest chipmaker, Intel. Its shares slumped 5.5 percent to $47.04.

Starbucks rose 3.6 percent to $67.09 after the company reported revenue and profit growth with the help of a strong holiday season. The results topped expectations and the company gave an upbeat outlook for the year.

The Wall Street Journal reported that the Federal Reserve might soon halt the shrinking of its bond portfolio. The Fed bought trillions of dollars in bonds following the recession in 2008 to help keep interest rates low and aid an economic recovery. It started gradually letting its portfolio shrink recently, but investors are concerned that will tighten credit conditions, which could slow economic growth.

"Although the economic data are pretty solid right now, the markets have basically told us that we are not tolerating additional tightening," said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.75 percent from 2.71 percent.

Drugmakers fell sharply. Abbvie fell 6.2 percent to $80.54 after the company said international sales of its drug Humira weakened in response to growing competition in key markets including Europe. AbbVie gets most of its revenue from Humira, which is the top-selling prescription medication in the world in terms of revenue. Drugmakers and health care stocks stumbled this week.

The S&P 500 has climbed 6.3 percent in January, an echo of its big rally one year earlier. The index surged 7.5 percent in the first few weeks of January 2018 before a sharp plunge. That set the stage for a tumultuous year, the worst one in a decade for the stock market. Experts say 2019 could be similarly rocky as investors react to political uncertainty and slowing economic growth worldwide, exacerbated by trade tensions and rising interest rates.

U.S. crude oil rose 1.1 percent to settle at $53.69 a barrel in New York. Brent crude, used to price international oils, rose 0.9 percent to $61.64 in London.

Wholesale gasoline stayed at $1.39 a gallon and heating oil added 0.3 percent to $1.89 a gallon. Natural gas gained 2.5 percent to $3.18 per 1,000 cubic feet.

The dollar dipped to 109.64 yen from 109.67 yen. The euro rose to $1.1414 from $1.1299.

Gold jumped 1.4 percent to $1,298.10 an ounce. Silver added 2.6 percent to $15.70 an ounce and copper climbed 3.2 percent to $2.73 a pound.

France's CAC 40 rose 1.1 percent, while Germany's DAX gained 1.4 percent. Both finished the week with solid gains. Britain's FTSE 100 fell 0.1 percent and finished the week down 2.3 percent. The country is moving closer to leaving the European Union without a trade deal, meaning Britain still faces tariffs and economic turmoil if its situation doesn't change before March 29.

Japan's Nikkei 225 rose 1 percent, South Korea's Kospi surged 1.5 percent and Hong Kong's Hang Seng gained 1.6 percent.

2219

 

[bigdog]

Stock indexes sank Monday after twin announcements highlighted how much China's slowing economic growth is hurting profits for U.S. companies.

ASX was closed Monday for Australia Day Holiday

https://www.usnews.com/news/busines...all-back-on-caution-over-china-us-trade-talks

Stocks Slide as Slow Growth in China Weighs on Earnings
Major indexes are falling as weak growth in China cuts into corporate financial results.

By DAMIAN J. TROISE, AP Business Writer

NEW YORK (AP) — Stock indexes sank Monday after twin announcements highlighted how much China's slowing economic growth is hurting profits for U.S. companies.

Caterpillar, a bellwether for industrial companies, reported fourth-quarter earnings that fell well short of analysts' expectations and said that it expects construction growth in China to be flat in 2019 following years of significant growth. Chipmaker Nvidia, meanwhile, cited slowing demand in China as one of the reasons for slashing its forecast for fourth-quarter revenue.

Wall Street had already been fixated on the effects of China's slowdown, particularly with trade tensions high between Washington and Beijing, and the announcements sent the technology and industrial sectors to sharp losses. They helped drag the S&P 500 down 20.91 points, or 0.8 percent, to 2,643.85.

The Dow Jones industrial average fell 208.98, or 0.8 percent, to 24,528.22, the Nasdaq composite lost 79.18, or 1.1 percent, to 7,085.68 and the Russell 2000 index of small-cap stocks dropped 9.32, or 0.6 percent, to 1,473.54.

China, the world's second-largest economy, generated its slowest economic growth last year since 1990, and the impact is being felt widely among the many U.S. companies that rely on China for sales, especially industrial and technology companies. China accounts for 5.5 percent of all revenue for S&P 500 companies, second-most in the world after the United States, according to FactSet.

Nvidia and Caterpillar fell to the sharpest losses in the S&P 500, with drops of 13.8 percent and 9.1 percent, respectively.

Tech giants Microsoft and Apple were also weighed down by China concerns. Microsoft fell 2 percent, and Apple shed 0.9 percent. Apple shook markets earlier this month when it warned of lagging sales in China.

Kristina Hooper, chief global market strategist at Invesco, expects a "widespread" impact from the global slowdown and said Apple was "the canary in the coal mine."

"This, if nothing else, is putting more emphasis and focus on U.S.-China trade talks this week," she said.

Talks aimed at resolving the impasse over Chinese technology policy and other issues are due to resume in Washington this week. Analysts say there might be moves to trim China's massive trade surplus with the U.S. that could stave off further hikes in punitive tariffs imposed by both sides. However, they expect gaps to remain on key problems such as China's blueprint for state-led development of leading technologies

The trade meeting is just one of several big events that could swing markets in a busy week. Also upcoming are a meeting by the Federal Reserve on interest rates, the U.S. jobs report and earnings reports from about a quarter of all the companies in the S&P 500 index.

Investors are hoping for encouraging clues that interest rates will remain low enough and job growth strong enough so as to avoid a recession. Fear of a potential recession took its toll on the stock market at the end of 2018, and the S&P 500 fell nearly 20 percent between setting its record on Sept. 20 and Christmas Eve.

In Europe, the threat of a continued economic slowdown has been hanging over what is an already contentious situation with Britain's expected departure from the European Union in March. Economic growth in Europe slowed in the last half of 2018 and indicators at the start of this year have been weak.

The British FTSE 100 lost 0.9 percent, while the French CAC 40 fell 0.8 percent and the German Dax lost 0.6 percent. In Asia, Japan's Nikkei 225 index fell 0.6 percent. The Hang Seng in Hong Kong and South Korea's Kospi were both virtually flat.

In the commodities market, U.S. crude oil fell 3.2 percent to settle at $51.99 per barrel in New York. Brent crude, used to price international oils, fell 2.8 percent to $59.93 per barrel.

The price of oil did not have a big reaction to the Trump administration imposing sanctions Monday on the state-owned oil company of Venezuela.

Wholesale gasoline fell 4.1 percent to $1.33 a gallon. Heating oil lost 2.9 percent to $1.84 a gallon and natural gas dropped 8.4 percent to $2.91 per 1,000 cubic feet.

The price of gold rose 0.4 percent to $1,303.10 an ounce, silver also rose 0.4 percent to $15.77 an ounce and copper fell 1.8 percent to $2.68 a pound.

Bond prices rose. The yield on the 10-year Treasury note dipped to 2.74 percent from 2.75 percent late Friday.

The dollar slipped to 109.36 Japanese yen from 109.64 yen late Friday. The euro rose to $1.1427 from $1.1414, and the British pound dipped to$1.3158 from $1.3198.

 

[bigdog]

Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.

https://www.usnews.com/news/busines...ks-slip-on-huawei-charges-as-trade-talks-loom

US Stocks End Mixed as Wall Street Assesses Earnings
Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.
Jan. 29, 2019, at 4:55 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks posted an uneven finish on Wall Street Tuesday, handing the S&P 500 index its second decline in a row.

An early gain faded as investors assessed a mixed bag of corporate results and looked ahead to a heavy schedule of news on companies and the economy.

Xerox and 3M rose after reporting solid results, but Harley-Davidson fell. Apple, which alarmed traders earlier this month when it disclosed that demand for iPhones is waning, reported earnings that topped Wall Street's forecasts.

"We think earnings are good and economic growth is good, it's just not great like it was last year," said John Lynch, chief investment strategist for LPL Financial.

The Dow Jones Industrial Average gained 51.74 points, or 0.2 percent, to 24,579.96. The benchmark S&P 500 index dropped 3.85 points, or 0.1 percent, to 2,640.

The tech-heavy Nasdaq composite fell 57.39 points, or 0.8 percent, to 7,028.29. The Russell 2000 index of smaller companies gave up 2.09 points, or 0.1 percent, to $1,471.45. Major stock indexes in Europe closed higher.

Losses in technology and media companies outweighed solid gains in industrial and health care stocks.

Of the 22 percent of S&P 500 companies that have reported results for the October-December quarter, about 46 percent have posted earnings and revenue that topped Wall Street's expectations, according to S&P Global Market Intelligence.

Corning delivered an upbeat fourth-quarter report, topping forecasts. The company expects more growth for its display-glass and optical communications segments, which makes screens for electronic devices and fiber optic cables. The stock jumped 11.1 percent to $33.72.

Pfizer rose after the world's largest drugmaker reported mixed results. While hefty costs for layoffs and acquisitions sunk fourth-quarter profit, the results still topped Wall Street forecasts. The company has been struggling to upgrade sterile injectable drug factories it bought from Hospira, but repairs have dragged on and production shutdowns have cut into sales.

Pfizer also gave Wall Street a weak sales and profit outlook for the year, but the company is still coming off a good year, getting four new cancer drugs that could be blockbusters approved in the last 14 weeks of 2018. The stock climbed 3.1 percent to $40.77.

Nucor, the biggest U.S. steelmaker, said profit surged 68.5 percent during the quarter thanks in large part to a growing economy. The company also saw increased steel shipments and prices. The stock gained 2.8 percent to $60.13.

Xerox surged on better-than-expected fourth-quarter results and an upbeat forecast as it restructures its operations. Xerox vaulted 11.4 percent to $27.07. 3M rose 1.9 percent to $196.95 on upbeat fourth-quarter results and a positive forecast.

The latest quarterly results from some companies failed to impress investors.

Harley-Davidson fell after the motorcycle maker reported a drop in sales worldwide, led by a weak showing in the U.S. Shipments worldwide fell 7.9 percent. The company, which has been struggling to boost sales domestically, has been increasingly looking to sell more bikes overseas. It has warned that the ongoing trade dispute with China would raise costs. Harley's stock dropped 5.1 percent to $34.76.

GameStop plunged after the company said it will no longer pursue a sale because of difficulty securing financing. The video game retailer is at its lowest value in nearly 14 years. The stock slid 27.2 percent to $11.28.

Even with Tuesday's mixed finish, the market is still on track to close out January with solid gains after a lousy December as Wall Street fretted over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy.

American and Chinese negotiators will sit down for two days of trade talks starting Wednesday in Washington. Those talks could be more tense than usual. China has called on Washington to "stop the unreasonable crackdown" on telecom equipment maker Huawei, warning it would defend its companies. The statement comes after the U.S. escalated pressure on the tech giant by indicting it on charges of stealing technology and violating sanctions on Iran.

Among other potential market-moving news this week:

The Federal Reserve ends its latest interest rate policy meeting on Wednesday and the government releases its monthly employment report, the most important indicator on the U.S. economy, on Friday.

The jobs report will have even more importance than usual because many other reports on the economy have been delayed because of the five-week partial shutdown of the federal government that ended Friday.

U.S. crude oil rose 2.5 percent to settle at $53.31 per barrel in New York. Brent crude, used to price international oils, added 2.3 percent to $61.32 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.71 percent from 2.74 percent late Monday.

The dollar weakened to 109.28 yen from 109.36 yen on Monday. The euro held steady against the dollar at $1.1427.

Gold rose 0.4 percent to $1,308.90 an ounce. Silver added 0.5 percent to $15.84 an ounce. Copper gained 1.7 percent to $2.73 a pound.

In other energy futures trading, wholesale gasoline rose 1.3 percent to $1.35 a gallon. Heating oil climbed 3.3 percent to $1.90 a gallon. Natural gas gained 1.3 percent to $2.95 per 1,000 cubic feet.

 

[bigdog]

https://www.usnews.com/news/busines...res-mixed-ahead-of-fed-meeting-us-china-talks

Stocks Jump After Fed Indicates Patience on Rate Increases
Stocks finished sharply higher Wednesday after the Federal Reserve signaled it could hold off on interest rate increases in the coming months, citing muted inflation.
Jan. 30, 2019, at 4:40 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks finished sharply higher Wednesday after the Federal Reserve signaled it could hold off on interest rate increases in the coming months, citing muted inflation.

Technology companies powered the broad rally, which snapped the market's two-day losing streak. The benchmark S&P 500 index is now track to end January with its biggest monthly gain in more than three years, and the gains pushed the Dow Jones Industrial Average above 25,000 points for the first time since early December.

"The Fed gave the market everything it wanted in terms of a dovish message," said Willie Delwiche, investment strategist at Baird. "Now it's saying maybe there will be rate hikes, maybe there won't be."

The midafternoon Fed announcement added to early gains as traders welcomed positive results and outlooks from several big companies including Boeing.

The aerospace giant soared after blowing away analysts' forecasts for earnings and as its annual revenue topped $100 billion for the first time. The gain in Boeing's stock accounted for about a third of the 434-point gain in the Dow Jones Industrial Average.

The S&P 500 index rose 41.05 points, or 1.6 percent, to 2,681.05. The Dow gained 434.90 points, or 1.8 percent, to 25,014.86.

The Nasdaq composite climbed 154.79 points, or 2.2 percent, to 7,183.08. The Russell 2000 index of smaller companies picked up 15.49 points, or 1.1 percent, to 1,486.94. The Russell is up more than 10 percent this month.

Jitters over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy helped knock the market into a steep slump in December that left the S&P 500 index 9.2 percent lower for the month. The market has since rebounded, with the index is now on track to end January with a 7 percent gain. That would be the biggest monthly increase since October 2015.

While concerns over trade and the health of the global economy remain, the Fed's announcement allays one of the market's biggest concerns: That the economy, and corporate profits, could be hurt if the Fed continued its recent pace of rate hikes.

"Stocks are certainly celebrating an increasingly friendly message from the Fed," Delwiche said. "It's not just a more measured pace in rate hikes, but it's questioning whether or not there will be additional rate hikes."

With pressures on the U.S. economy rising — a global slowdown, a trade war with China, a nervous stock market — the Fed signaled Wednesday that it is in no hurry to resume raising interest rates. And with inflation remaining tame, the rationale to tighten credit has become less compelling.

"The situation calls for patience," Chairman Jerome Powell said at a news conference. "We have the luxury to be patient."

The Fed's benchmark short-term rate will remain in a range of 2.25 percent to 2.5 percent after having been raised four times last year. The central bank also said it is prepared to slow the reduction of its bond holdings if needed to support the economy. That would put downward pressure on long-term interest rates such as mortgages.

An early rally had stocks notching gains hours before the Fed's announcement as investors welcomed some encouraging corporate earnings reports.

Boeing surged 6.3 percent to $387.72 after the company delivered more planes and racked up a significant amount of government contracts during the fourth quarter. Revenue surged 14 percent as the company delivered more commercial and military planes. Profit and revenue topped expectations.

Apple rose 6.8 percent to $165.25 after traders brushed off a slide in iPhone sales. The technology giant's latest results met Wall Street's diminished expectations.

Anthem, the nation's second-largest health insurer, soared 9.1 percent to $297.56 on an upbeat forecast for 2019.

Corporate earnings have so far been holding up in the face of the global slowdown and trade conflicts. So far, roughly a quarter of the companies in the S&P 500 have reported results for the final three months of 2018. Of those, some 77 percent delivered earnings growth that topped Wall Street's expectations. Some, though, are lowering expectations for 2019.

Trade talks opened Wednesday between the U.S. and China and will loom over the market for the remainder of the week. The high-level talks are aimed at settling a monthslong trade war that has raised fears of slower economic growth. Industrial and technology companies have warned about slowing sales because of the trade impasse.

U.S. crude oil rose 1.7 percent to settle at $54.23 per barrel in New York. Brent crude, used to price international oils, added 0.5 percent to close at $61.65 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.67 percent from 2.71 percent late Tuesday.

The dollar weakened to 108.92 yen from 109.28 yen on Tuesday. The euro rose against the dollar to $1.1492 from $1.1427.

Gold rose 0.1 percent to $1,309.90 an ounce. Silver added 0.6 percent to $15.93 an ounce. Copper gained 1.6 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline rose 2.3 percent to $1.38 a gallon. Heating oil was little changed at $1.90 a gallon. Natural gas gained 1.3 percent to $2.95 per 1,000 cubic feet.

 

[daytradeprofit]

Need to watch closely crucial time arrived the markets- trigger points is here...http://www.daytrade-profit.com/2019/01/need-to-watch-closely-crucial-time.html

 

[bigdog]

Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931.

Stocks finished higher Thursday, closing out the month with the best gain for the S&P 500 index since October 2015.

https://www.usnews.com/news/busines...es-mostly-higher-on-upbeat-china-factory-data

S&P 500 Index Delivers Biggest Monthly Gain Since 2015
Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931. Stocks finished higher Thursday, closing out the month with the best monthly gain for the S&P 500 index since 2015.
Jan. 31, 2019, at 5:01 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street got its mojo back in January after finishing 2018 with its worst December since 1931.

Stocks finished higher Thursday, closing out the month with the best gain for the S&P 500 index since October 2015.

A series of strong corporate earnings helped power the monthlong rally, which followed a dismal December that nearly brought the benchmark index into a bear market, meaning a decline of 20 percent from a recent peak.

Facebook helped drive the market higher on Thursday after reporting solid user metrics. Charter Communications soared after its revenue came in ahead of forecasts. General Electric also climbed. Amazon reported earnings after the close of regular trading that topped Wall Street's forecasts.

Homebuilders surged following new data showing sales of new U.S. homes soared in November.

Strong results and outlooks from big U.S. companies seem to be calming some of the fears investors had that a recession might be looming.

"Overall, we're still encouraged that this earning season is comforting to people," said Ryan Detrick, senior market strategist at LPL Financial.

The S&P 500 index rose 23.05 points, or 0.9 percent, to 2,704.10. It rose 7.9 percent in January. In December, it tumbled 9.2 percent.

The Dow Jones Industrial Average fell 15.19 points, or 0.1 percent, to 24,999.67. The Nasdaq composite climbed 98.66 points, or 1.4 percent, to 7,281.74. The Russell 2000 index of smaller companies picked up 12.48 points, or 0.8 percent, to 1,499.42.

Communications, health care and consumer goods and services stocks powered Thursday's market gain as investors remained focused on corporate earnings, which have been mixed.

Facebook beat Wall Street's profit and revenue forecasts, despite an increase in spending on privacy and security. Its user base grew to 2.32 billion, up 9 percent from a year earlier and higher than analysts' forecasts. The stock gained 10.8 percent to $166.69.

General Electric reported mixed results for the fourth quarter, but revenue and profit were still higher across most of its segments. The industrial conglomerate has been cutting costs and spinning off units for years in a bid to boost its bottom line. The stock climbed 11.6 percent to $10.16.

Microsoft fell 1.8 percent to $104.43 after the technology company swung to a profit in its latest quarter, driven by revenue growth at its cloud-computing platform. The results beat forecasts, but the company's key personal computing segment fell short of estimates.

Homebuilders climbed on new data showing sales of newly built homes soared in November. The Commerce Department said new home sales jumped 16.9 percent in November from the previous month. Despite the healthy gain, sales remain 7.7 percent below the pace from a year earlier. The report was delayed by the 35-day government shutdown. Meritage Homes led the pack, vaulting 10.1 percent to $45.08.

Concerns over the ongoing U.S.-China trade conflict, uncertainty over the path of interest rates and signs of a weakening global economy helped knock the market into a steep slump in December. While concerns over trade and a slowing economy remain, corporate earnings have put investors in a buying mood. And this week, the Federal Reserve sent a strong signal to the markets that it is in no hurry to raise interest rates in coming months, another confidence boost for the market.

Trade talks between the U.S. and China entered a second day Thursday. President Donald Trump voiced optimism before meeting with representatives from China, but noted there would be "no final deal" until he sits down with Chinese President Xi Jinping.

Among the biggest gainers in January were Xerox and Celgene, which climbed 42.8 percent and 38 percent, respectively. General Electric also turned in a big January gain: 34.2 percent.

Boeing notched the biggest January gain in the 30-company Dow, rising 19.6 percent.

U.S. crude oil fell 0.8 percent to settle at $53.79 per barrel in New York. Brent crude, used to price international oils, added 0.4 percent to close at $61.89 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.64 percent from 2.69 percent late Wednesday.

The dollar fell to 108.66 yen from 108.92 yen on Wednesday. The euro weakened versus the dollar to $1.1479 from $1.1492.

Gold rose 0.7 percent to $1,319.70 an ounce. Silver added 0.9 percent to $16.07 an ounce. Copper gained 0.6 percent to $2.78 a pound.

In other energy futures trading, wholesale gasoline fell 1.4 percent to $1.36 a gallon. Heating oil slid 1 percent to $1.88 a gallon. Natural gas dropped 1.4 percent to $2.81 per 1,000 cubic feet.

 

[bigdog]

Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third straight day.

Gains in technology companies, energy stocks and banks outweighed losses in retailers and elsewhere in the market.

https://www.usnews.com/news/busines...ocks-mixed-as-china-us-talks-end-with-no-deal

US Stocks Eke Out Gains After Bumpy Day Caps Solid Week
Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third-straight day.
Feb. 1, 2019, at 4:41 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks capped a bumpy day of trading Friday with modest gains, extending the market's winning streak to its third straight day.

Gains in technology companies, energy stocks and banks outweighed losses in retailers and elsewhere in the market.

Major indexes were higher much of the morning as investors applauded a burst of hiring in January by U.S. employers. That enthusiasm was tempered, however, by a disappointing revenue outlook from Amazon.

The solid jobs report came a day after investors got encouraging news from the Federal Reserve, which confirmed that it will be "patient" in deciding when to raise interest rates.

Friday's bout of up-and-down trading came a day after the market closed out January with its biggest monthly gain since 2015.

That strong finish to the month, in addition to the latest jobs report, may have given some investors reason to take a breather Friday, resulting in the market barely squeaking out a gain.

"There's going to be a vacuum of positive catalysts next week, with the exception of a few individual earnings reports," said Randy Frederick, vice president of trading & derivatives at Charles Schwab. "With this type of a rally behind us, it just looks to me like we're running out of a little bit of steam here in the near term."

The S&P 500 index rose 2.43 points, or 0.1 percent, to 2,706.53. The Dow Jones Industrial Average gained 64.22 points, or 0.3 percent, to 25,063.89.

The Nasdaq composite dropped 17.87 points, or 0.2 percent, to 7,263.87. The Russell 2000 index of smaller companies picked up 2.64 points, or 0.2 percent, to 1,502.05.

Stocks got an early boost Friday as investors welcomed the latest monthly U.S. hiring snapshot.

U.S. employers added 304,000 jobs in January, far more than the 165,000 that economists were expecting. The government also revised its December figures sharply lower, to 222,000 from 312,000. Even with the revision, hiring has accelerated since last summer, a development that has surprised economists, because hiring typically slows when unemployment is so low.

Despite the strong jobs report in the U.S., investors are seeing signs of weakness elsewhere in the global economy. Inflation among the 19 countries that use the euro eased in January, a sign of weakness in a region already beset by many challenges. Italy is in a recession and Britain appears to be headed for a disorderly exit from the European Union.

In the U.S., consumer confidence fell in January for a third straight month. The housing market is slumping as mortgage rates steadily increase. Sales of existing homes plunged in December and fell 3.1 percent in 2018.

The protracted trade war between the U.S. and its trading partners continues to be a significant worry for investors. On Friday the European Union introduced new measures to prevent steel produced for the U.S. market from flooding into Europe.

Two days of trade talks between the U.S. and China wrapped up Thursday without a deal but with an upbeat outlook. The continued negotiations come as investors are worried about a slowdown in China and the damage the tariffs could cause to the U.S. economy by raising prices on consumer products.

Amazon's latest outlook disappointed investors and weighed on the broader retail sector Friday.

The e-commerce giant cashed in on a strong holiday shopping season, and the company's quarterly earnings topped $3 billion for the first time. Both profit and revenue beat Wall Street forecasts, but the results couldn't outweigh disappointment over the company's outlook.

Amazon expects sales between $56 billion and $60 billion, while Wall Street analysts expected $60 billion. The stock fell 5.4 percent to 1,626.23.

Other big retailers also traded lower. Kohl's slid 2.9 percent to $66.69 and Target dropped 2.5 percent to $71.17.

Exxon and Chevron both made gains after beating forecasts despite a highly volatile period for oil prices. The price of benchmark U.S. crude fell about 40 percent during the final quarter of 2018. That sharp drop followed a year of price gains. For Exxon, it was the most profitable year since 2014.

Exxon rose 3.6 percent to $75.92 and Chevron gained 3.2 percent to $118.37.

Benchmark U.S. crude rose 2.7 percent to $55.26 per barrel in New York. Brent crude, used to price international oils, rose 3.1 percent to $62.75 in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.69 percent from 2.63 percent late Thursday.

The dollar strengthened to 109.51 yen from 108.66 yen on Thursday. The euro weakened versus the dollar to $1.1461 from $1.1479.

Gold fell 0.2 percent to $1,316.90 an ounce. Silver lost 0.9 percent to $15.93 an ounce. Copper dropped 0.4 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline rose 4.3 percent to $1.44 a gallon. Heating oil gained 1.9 percent to $1.91 a gallon. Natural gas dropped 2.8 percent to $2.73 per 1,000 cubic feet.

2608

 

[bigdog]

Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.

Technology companies led the broad move higher, outweighing losses in health care, materials and utilities stocks.

https://www.usnews.com/news/busines...ixed-on-us-china-fears-at-start-of-quiet-week

Technology Companies Lead Stocks Higher After an Early Slide
Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.
Feb. 4, 2019, at 4:47 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Stocks recovered from an early wobble Monday, lifting the benchmark S&P 500 to its fourth straight gain.

Technology companies led the broad move higher, outweighing losses in health care, materials and utilities stocks.

The market had gotten off to a weak start after the government reported that factory orders fell in November, but by midday major indexes had turned higher.

Investors remained focused on the latest batch of corporate earnings, including solid results from Clorox and Sysco. Google parent Alphabet posted results that topped Wall Street's estimates after the close of regular trading.

Concerns over slower economic growth overshadowed a mostly positive January for stocks, with solid company earnings helping to offset some of those fears.

"Earnings have surprised to the upside," said Quincy Krosby, chief market strategist at Prudential Financial. "That said, there is still a tug-of-war within the market as to whether or not the economy is in fact going to slow this quarter or beginning of next quarter."

The S&P 500 index rose 18.34 points, or 0.7 percent, to 2,724.87. The Dow Jones Industrial Average climbed 175.48 points, or 0.7 percent, to 25,239.37. The tech-heavy Nasdaq composite gained 83.67 points, or 1.2 percent, to 7,347.54.

The Russell 2000 index of smaller companies picked up 15.48 points, or 1 percent, to 1,517.54.

Stocks got off to a sluggish start as traders weighed a government report showing U.S. factory orders declined 0.6 percent in November. The drop, attributed mainly to lower demand for machinery and electrical equipment, surprised economists, who had forecast a slight increase.

The report is one of many that were delayed by a monthlong government shutdown. The long list of missing indicators makes it difficult to gauge the health of the economy and has prompted a cautious outlook from analysts.

Traders shrugged off the possible implications of the report by midday, however, as their attention turned back to company earnings.

Clorox Company climbed 5.7 percent to $158.38 after reporting earnings that came in ahead of analysts' forecasts. Sysco's latest quarterly snapshot also topped analysts' estimates, driving shares in the food distributor up 4.8 percent to $66.64.

Just under half of S&P 500 companies have reported results for the last three months of 2018. Of those, about 71 percent have turned in results that exceeded financial analysts' forecasts, according to S&P Global Market Intelligence.

In addition to positive earnings, the market has been riding a wave of positive momentum kicked off last week when the Federal Reserve signaled that it sees no need to raise interest rates anytime soon. Another batch of strong monthly U.S. jobs data also helped put investors in a buying mood.

"The Fed put the market on notice that they are becoming more patient, more flexible, more data-dependent, and that's certainly helped underpin the market's performance," Krosby said.

Even so, uncertainty remains over the U.S.-China trade dispute, and its potential impact on corporate profits. Washington and Beijing ended two days of talks last week in Washington without a deal, though both sides remained optimistic about future meetings. Investors hope a deal is reached before a tariff cease-fire ends on March 2.

Papa John's jumped 9 percent to $41.97 on news of a $200 investment from Starboard Value. Starboard CEO Steve Ritchie is also being named chairman of the troubled pizza chain.

Last week, the Louisville, Kentucky-based company's stock plunged on reports that Trian Fund Management was no longer interested in a deal. The company also had a weak fourth quarter.

Gannett, the publisher of USA Today and other newspapers, slid 2.2 percent to $10.97 after the company rejected a $1.36 billion buyout from MNG Enterprises, a hedge-fund backed media group with a history of taking over newspapers and slashing jobs.

Health care sector stocks lagged the broader market. Allergan slid 3.8 percent to $138.53, while Celgene lost 2.3 percent to $87.57.

U.S. crude fell 1.3 percent to settle at $54.56 per barrel in New York. Brent crude, used to price international oils, slipped 0.4 percent to close at $62.51 per barrel in London. The lower prices follow a round of supply cuts by OPEC in January and more U.S. sanctions against Venezuela.

Bond prices fell. The yield on the 10-year Treasury rose to 2.72 percent from 2.69 percent late Friday.

The dollar strengthened to 109.90 yen from 109.51 yen on Friday. The euro weakened versus the dollar to $1.1432 from $1.1461.

Gold fell 0.2 percent to $1,314.30 an ounce. Silver lost 0.3 percent to $15.89 an ounce. Copper gained 0.8 percent to $2.79 a pound.

In other energy futures trading, wholesale gasoline fell 0.3 percent to $1.43 a gallon. Heating oil slid 0.3 percent to $1.91 a gallon. Natural gas dropped 2.7 percent to $2.66 per 1,000 cubic feet.

 

[bigdog]

Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.

The rally, which briefly wavered around midday, extended the benchmark S&P 500 index's winning streak to five days.

https://www.usnews.com/news/busines...-mixed-most-markets-closed-for-lunar-new-year

S&P 500 Win Streak Marks 5th Day on Solid Company Earnings
Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.
Feb. 5, 2019, at 4:53 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Technology companies helped lead stocks broadly higher on Wall Street Tuesday as strong earnings reports from several companies put investors in a buying mood.

The rally, which briefly wavered around midday, extended the benchmark S&P 500 index's winning streak to five days.

Technology stocks, which have lagged the market in recent months, accounted for much of the rally. Financial sector companies were among the biggest laggards.

Investors welcomed the latest batch of solid earnings reports from a range of U.S. companies, including luxury retailers Ralph Lauren and Estee Lauder and media companies Viacom and Walt Disney.

Halfway through the fourth-quarter earnings reporting season for U.S. companies, the results have come in broadly ahead of analysts' forecasts. However that growth is expected to slow in the months ahead.

"Big companies reported some really good results today," said Lindsey Bell, an investment strategist at CFRA. "While the overall earnings season isn't all that impressive versus the past four quarters, it's still a pretty decent quarter."

The S&P 500 index rose 12.83 points, or 0.5 percent, to 2,737.70. The Dow Jones Industrial Average gained 172.15 points, or 0.7 percent, to 25,411.52. The tech-heavy Nasdaq composite added 54.55 points, or 0.7 percent, to 7,402.08. The Russell 2000 index of smaller companies picked up 2.69 points, or 0.2 percent, to 1,520.23.

Major indexes in Europe finished higher.

Technology stocks helped power the market's gains. Apple added 1.7 percent to $174.18, while Microsoft climbed 1.4 percent to $107.22.

Investors continued to focus on corporate earnings, seeking clues to how companies gauge their prospects for higher profits amid signs of weaker global growth and uncertainty over the U.S.-China trade dispute.

The market got encouraging news from upscale clothing company Ralph Lauren, whose most recent results topped Wall Street analysts' forecasts as it benefited from growth in Asia and Europe. More importantly, it raised its forecast despite some fears about an economic slowdown hitting Europe and Asia. The stock jumped 8.4 percent to $124.16.

Estee Lauder, which also reported better results and said it expects growth in Asia, vaulted 11.6 percent to $152.02.

Leggett & Platt was among the retailers whose shares surged Tuesday on strong earnings. The home furnishings company climbed 9.8 percent to $44.88.

Viacom, an entertainment company that owns Comedy Central and Paramount Pictures, rose 3 percent to $30.33 after reporting earnings that also beat analysts' estimates. Walt Disney's latest quarterly report card also blew past expectations. The media giant, which issued its results after the market close, rose 0.8 percent to $112.66 in regular trading.

Not all companies boasted solid results. Higher spending on marketing and pressure from tariffs knocked profits down 68 percent at Church & Dwight, a major maker of household products. The results fell short of Wall Street's forecasts, sending shares in the Arm & Hammer brand owner down 7.5 percent to $60.46.

More than 68 percent of companies reporting earnings in the S&P 500 beat analyst forecasts during the most recent quarter. Those results, in part, helped drive the market's best January in 32 years.

Analysts are warning that earnings growth could slow down substantially in the coming months. Companies have so far reported overall earnings growth of 16.2 percent in the latest quarter, according to data compiled by Factset. However, analysts surveyed by FactSet expect earnings to shrink 1.3 percent in the first quarter and then to grow just 1.3 percent and 2.6 percent in the second and third quarters, respectively.

U.S. crude oil fell 1.6 percent to settle at $53.66 per barrel in New York. Brent crude, used to price international oils, slid 0.8 percent to close at $61.98 per barrel in London.

Bond prices rose. The yield on the 10-year Treasury fell to 2.70 percent from 2.72 percent late Monday.

The dollar strengthened to 109.97 yen from 109.90 yen on Monday. The euro weakened versus the dollar to $1.1410 from $1.1432.

Gold was little changed at $1,319.20 an ounce. Silver lost 0.3 percent to $15.84 an ounce. Copper gained 0.8 percent to $2.82 a pound.

In other energy futures trading, wholesale gasoline fell 0.4 percent to $1.43 a gallon. Heating oil slid 0.5 percent to $1.90 a gallon. Natural gas rose 0.1 percent to $2.66 per 1,000 cubic feet.

 

[bigdog]

A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.

Communications sector stocks, led by steep declines in video game companies, accounted for most of the market's slide. Take-Two Interactive and Electronic Arts plunged after reporting earnings that fell far short of what Wall Street analysts were expecting. The companies also issued weak forecasts, citing tougher competition.

https://www.usnews.com/news/busines...-higher-following-strong-gains-on-wall-street

Video Game Companies Lead Modest Slide in US Stocks
A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.
Feb. 6, 2019, at 4:59 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

A mixed bag of corporate earnings nudged U.S. stocks slightly lower Wednesday, snapping the market's five-day winning streak.

Communications sector stocks, led by steep declines in video game companies, accounted for most of the market's slide. Take-Two Interactive and Electronic Arts plunged after reporting earnings that fell far short of what Wall Street analysts were expecting. The companies also issued weak forecasts, citing tougher competition.

Gains in technology stocks offset some of those losses, with Skyworks Solutions leading a rally in semiconductor companies.

"This is an earnings-driven market, and where you've seen both positive and negative price movement today it has largely been sector and industry specific," said Paul Springmeyer, head of investments at U.S. Bank Wealth Management. "On balance, sales and earnings are really trending mostly above expectations."

The Dow Jones Industrial Average fell 21.22 points, or 0.1 percent, to 25,390.30. The S&P 500 index dropped 6.09 points, or 0.2 percent, to 2,731.61. The benchmark index finished higher the previous five days in a row.

The Nasdaq composite slid 26.80 points, or 0.4 percent, to 7,375.28. The Russell 2000 index of smaller companies gave up 2.20 points, or 0.1 percent, to 1,518.02. Major European indexes also finished lower.

More than half of the companies in the S&P 500 have already reported results for the last three months of 2018, and most have turned in earnings that beat analysts' forecasts.

"What we are seeing is earnings are in fact slowing, but they still remain positive," Springmeyer said.

That's helped to allay some investors' fears over a slowdown in growth. Still, broader economic concerns continue to shadow the market, including uncertainty over the U.S.-China trade dispute, the impact tariffs are having on profits and consumers' wallets, and signs of a general slowdown in global growth.

The latest quarterly snapshots from video game companies failed to impress traders Wednesday.

Take-Two, maker of the "Grand Theft Auto" and "Red Dead Redemption" games series, gave investors a weak outlook for the current quarter. Electronic Arts, whose titles include "The Sims" and various sports games, including "Madden NFL," flagged disappointing results in sales of its latest "Battlefield" game.

Both companies are grappling with competition from Epic Games Inc.'s hit game "Fortnite."

Take-Two and Electronic Arts plunged 13.8 percent and 13.3 percent, respectively. Activision Blizzard, maker of the "Call of Duty" and "Candy Crush" games, fell 10.1 percent.

A broad slide in homebuilder shares also weighed on the market. Hovnanian Enterprises led the pack with a 6.6 percent decline.

Traders bid up shares in several companies that reported improved quarterly results.

The company behind the popular photo-messaging app SnapChat surged 22 percent as advertising gains drove revenue growth in the fourth quarter. The revenue increase helped cut the company's losses. It also maintained its user base.

The New York Times vaulted 10.3 percent in heavy trading after the newspaper publisher touted a big gain in digital subscribers and digital revenue for the October-December quarter. The Times added 265,000 digital subscriptions in the fourth quarter. Its earnings and revenue topped Wall Street's forecasts.

Capri Holdings, owner of the Michael Kors, Jimmy Choo and Versace clothing and footwear brands, climbed 11.3 percent after reporting quarterly earnings that were far larger than analysts were expecting.

Skyworks Solutions jumped 11.5 percent after the semiconductor company announced a $2 billion stock buyback plan. The news sent shares in several chipmakers higher. Microchip Technology climbed 7.3 percent, while Micron Technology gained 5.5 percent.

 

[bigdog]

U.S. indexes took their cue early Thursday from major European markets, which tumbled after the European Union's commission slashed its 2019 forecast for economic growth in the 19 countries that use the euro to 1.3 percent from an earlier forecast of 1.9 percent.

https://www.usnews.com/news/busines...-markets-rise-on-hopes-for-interest-rate-cuts

US Stock Indexes Drop as Economic, Earnings Worries Rise
US Stock Indexes Drop as Economic, Earnings Worries Rise
Renewed pessimism about the strength of the global economy and corporate profits this year led to sharp losses on Wall Street Thursday.
Feb. 7, 2019, at 4:49 p.m.

By ALEX VEIGA, AP Business Writer

Renewed pessimism about the strength of the global economy and corporate profits this year led to sharp losses on Wall Street Thursday.

Technology companies, health care stocks and banks accounted for much of the selling. Twitter slumped almost 10 percent after issuing a weak forecast. Traders sought safety in U.S. government bonds, sending yields lower.

The broad sell-off followed a slide in overseas markets after European officials slashed their forecast for economic growth this year in the 19 countries that use the euro and the Bank of England warned that the British economy is set for its weakest growth in a decade.

The moves are the latest flashpoints of worry as investors gird for predicted slowdowns in economies around the world, including the United States, and weaker corporate earnings growth.

Stocks bounced back this year after a dismal December, riding a wave of positive momentum after the Federal Reserve signaled it would be take a more patient approach to raising interest rates. Corporate earnings, which have mostly come in ahead of lowered expectations, also helped lift the market this month, carrying the S&P 500 index to a five-day winning streak that ended Wednesday.

"We've come so far so fast that people were just looking for a chance to be able to say, 'Yeah, that's it, I'm going to take some money off the table," said Tom Martin, senior portfolio manager of Globalt Investments.

The S&P 500 fell 25.56 points, or 0.9 percent, to 2,706.05. The Dow Jones Industrial Average lost 220.77 points, or 0.9 percent, to 25,169.53. The Dow was briefly down 389 points.

The Nasdaq composite slid 86.93 points, or 1.2 percent, to 7,288.35. The Russell 2000 index of smaller companies gave up 12.40 points, or 0.8 percent, to 1,505.63.

U.S. indexes took their cue early Thursday from major European markets, which tumbled after the European Union's commission slashed its 2019 forecast for economic growth in the 19 countries that use the euro to 1.3 percent from an earlier forecast of 1.9 percent. A weaker-than-expected report on industrial production in Germany also raised concerns.

In London, the Bank of England cut its forecast for growth this year to 1.2 percent from an earlier forecast of 1.7 percent. That would be its slowest growth since 2009. The bank said it sees a one-in-four chance of slipping into a recession this year.

In the U.S., a report showed that the job market remains strong as fewer Americans applied for unemployment benefits last week, a sign that layoffs are low. But many economists expect the U.S. economy to slow this year as well, along with economies around the rest of the world.

The discouraging economic forecasts coupled with some companies lowering their 2019 earnings estimates stoked jitters across the market that earnings at U.S. companies will weaken in the first three months of this year.

Across the S&P 500, analysts are forecasting earnings per share to drop 1.8 percent in the first quarter from a year earlier. They were calling for growth just a few weeks ago, and if the updated forecasts prove true, it will be the first decline in nearly three years.

Any decline would also be a sharp drop-off from the 12.9 percent growth that S&P 500 companies are expected to report for the quarter of 2018.

"Is it going to be a one-quarter kind of fluke?" said Martin. "That's what's embedded in analysts' estimates. Or is it going to be a multi-quarter, maybe multi-year phenomenon like it was in 2015 and 2016?"

Twitter's latest quarterly results fed traders' concerns about slowing corporate profits.

The company gave a better-than-expected earnings report for its latest quarter, but its stock price tumbled 9.8 percent after it said revenue for this quarter may fall short of some analysts' estimates. Other social media companies also fell. Facebook dropped 2.4 percent.

Dunkin' Brands fell 3 percent after the doughnuts chain gave 2019 guidance that fell short of what analysts were expecting.

Shares in Tapestry tumbled 14.8 percent after the owner of Kate Spade, Coach and other luxury apparel brands reported quarterly earnings and revenue that missed Wall Street's estimates.

The resurgent jitters over the global economy sent investors toward Treasury bonds, which are seen as safer investments during tumultuous times. When a bond's price rises, its yield falls, and the yield on the 10-year Treasury note fell to 2.66 percent from 2.69 percent late Wednesday.

The drop in the 10-year Treasury yield, which affects rates on mortgages and other consumer loans, weighed on bank shares. Wells Fargo fell 2.3 percent.

Benchmark U.S. crude oil dropped 2.5 percent to settle at $52.64 a barrel. Natural gas slid 4.2 percent. That helped drag energy stocks in the S&P 500 down by 2.1 percent, the worst decline among the 11 sectors that make up the index. Newfield Exploration led the sector slide, dropping 6.7 percent.

Stocks around the world have also heaved up and down recently on concerns about U.S.-China trade tensions. U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead a delegation to Beijing next week for the next round of trade talks, but the issues are complex. These include contentious topics like Beijing's technology policy and trade practices, where progress has been limited so far.

Mnuchin also said that there were no plans for President Donald Trump to meet Chinese leader Xi Jinping. "If there are remaining issues that we can't get closed, I think President Trump expects that he's going to sit down with President Xi and address those issues," he said.


Feb. 7, 2019, at 4:49 p.m.

 

[bigdog]

Reported just after start today:
"The S&P 500 headed for its worst week since December, with global-growth concern mounting after Australia’s central bank joined European and British officials in tamping down forecasts at the same time the prospects for an extension of the U.S.’s trade detente with China continued to fade."

U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.

Prior to a late-afternoon flurry of buying, the market had been on pace to finish lower as investors hit pause following a tumultuous two months where the index followed up its worst December since 1931 with its best January in three decades.

https://www.usnews.com/news/busines...fall-after-trump-says-no-plans-for-xi-meeting

Late Burst of Buying on Wall Street Leaves Indexes Mixed
U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.
Feb. 8, 2019, at 4:56 p.m.

By STAN CHOE and ALEX VEIGA, AP Business Writers

U.S. stock indexes stemmed an early slide Friday, finishing mostly higher and nudging the benchmark S&P 500 index to its second weekly gain in a row.

Gains in technology and consumer goods companies outweighed losses in financial stocks and retailers as investors continued to size up the latest batch of quarterly corporate snapshots.

Prior to a late-afternoon flurry of buying, the market had been on pace to finish lower as investors hit pause following a tumultuous two months where the index followed up its worst December since 1931 with its best January in three decades.

"Earnings are coming in good -- we're seeing over 15 percent growth -- but there are some concerns about the next quarter that growth is going to be pretty close to zero," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management.

The S&P 500 rose 1.83 points, or 0.1 percent, to 2,707.88. The Dow Jones Industrial Average lost 63.20 points, or 0.3 percent, to 25,106.33.

The Nasdaq composite added 9.85 points, or 0.1 percent, to 7,298.20. The Russell 2000 index of smaller companies picked up 0.77 points, or 0.1 percent, to 1,506.39. Major stock indexes in Europe finished lower.

Traders have been worried about predicted slowdowns in economies around the world, with trade tensions between the United States and China adding to the strain. Warnings about slower growth from Europe and the United Kingdom earlier this week hit hard, helping to derail a five-day winning streak for the S&P 500.

It hasn't been all bad news, however. Companies have been reporting better-than-expected earnings for the last three months of 2018, and the Federal Reserve has indicated it will take a more patient approach to raising interest rates. Still, concerns are building about whether profits can keep growing this year, especially after companies' strong gains in 2018 following a sweeping corporate tax cut.

"The markets are looking forward to an earning season that might be a little bit challenging for the first quarter, because they're going to be having to jump over a higher bar," Cavanaugh said.

Across the S&P 500, analysts are forecasting earnings per share to drop 1.8 percent in the first quarter from a year earlier. They were calling for growth just a few weeks ago, and if the updated forecasts prove true, it will be the first decline in nearly three years. Looking beyond the first quarter, earnings growth by S&P 500 companies is expected to grow 5 percent for all of 2019.

Technology stocks drove much of the market's late-day recovery Friday, with Motorola Solutions leading the pack. The stock vaulted 14.1 percent.

Financial stocks took some of the heaviest losses and were hurt by a drop in interest rates, which can limit the profits they make from lending money. Morgan Stanley slid 1.6 percent.

Treasury yields fell as investors continued to seek out safer areas of the market given all the economic and profit concerns. Treasury yields fall when prices for the bonds rise.

The yield on the 10-year Treasury note dropped to 2.63 percent from 2.65 percent late Thursday. It had been above 3 percent as recently as December.

Traders continued to weigh a mixed batch of company earnings reports Friday.

Mattel surged to one of the biggest gains in the S&P 500 after reporting a bigger-than-expected profit for its latest quarter. Its stock leaped 23.2 percent.

Rival Hasbro, though, fell after its own earnings report fell short of Wall Street's expectations. Its stock dropped 1 percent.

Chipmaker Qorvo declined 3 percent despite reporting stronger earnings for its latest quarter than Wall Street expected. Investors focused instead on its revenue forecast for the current quarter, which was below analysts' expectations. The company said cited weakness across the smartphone market.

Goodyear Tire & Rubber plunged 9.1 percent, posting the biggest loss in the S&P 500 index, after reporting weaker-than-expected profit for the latest quarter. The company cited some weakness in China, which has been a big source of concern for investors recently.

The world's second-largest economy is in the midst of a sharp economic slowdown, and it's a huge market for many big U.S. companies.

Amazon.com dropped 1.6 percent after its CEO, Jeff Bezos, said he was the target of blackmail by the publisher of the National Enquirer, which he said threatened to publish revealing personal photos of him. Bezos, who is also the owner of the Washington Post, has been locked in an increasingly tense standoff with President Donald Trump, and the Enquirer has been a strong backer of Trump in the past. The Enquirer's publisher said Friday that it acted lawfully while reporting the story and will look into the claims.

Amazon is one of the biggest stocks in the S&P 500, so its movements have a larger effect on index funds than other stocks.

Markets around the world have been lurching up and down in recent months as investors worry about fallout from the U.S.-China trade dispute. President Donald Trump said Thursday that he doesn't plan to meet Chinese leader Xi Jinping before their cease-fire on tariffs expires in early March.

Unless American and Chinese negotiators come to a new agreement, the U.S. is expected to raise import taxes from 10 percent to 25 percent for $200 billion in Chinese goods. The trade dispute between the world's two largest economies, which has cooled in recent months, has weighed on the outlook of businesses and the global economy.

Trump's announcement weighed on markets around the world, and indexes in Europe and Asia mostly fell.

3071

 

[bigdog]

Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.

https://www.usnews.com/news/busines...se-ahead-of-new-round-of-us-china-trade-talks

US Stock Indexes End Mixed Ahead of US-China Trade Talks
Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.
Feb. 11, 2019, at 4:51 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

Wall Street capped a day of mostly listless trading with a mixed finish Monday as gains in industrial companies, banks and energy stocks outweighed losses elsewhere.

Small-company stocks fared better than the rest of the market as investors shifted focus away from the tail end of a relatively strong corporate earnings season and looked ahead to key trade talks between the U.S. and China later this week.

U.S. Treasury Secretary Stephen Mnuchin is leading a delegation set to meet with Chinese officials on Thursday and Friday. The talks are aimed at resolving a trade war that threatens to stunt global economic growth, in part by raising prices on goods for consumers and companies. The situation could get worse when a truce on tariffs expires in early March.

"The problem is, if this trade issue goes on long enough, it will metastasize itself to our economy, "said Sam Stovall, chief investment strategist at CFRA.

The Dow Jones Industrial Average fell 53.22 points, or 0.2 percent, to 25,053.11. The S&P 500 index rose 1.92 points, or 0.1 percent, to 2,709.80. The Nasdaq composite added 9.71 points, or 0.1 percent, to 7,307.90. The Russell 2000 index of smaller-company stocks gained 12.59 points, or 0.8 percent, to 1,518.98. European markets finished higher.

U.S. indexes spent much of the day wavering between small gains and losses on a light day of company earnings news.

Companies have mostly reported better-than-expected earnings for the last three months of last year. Still, concerns have been building about whether profits can keep growing this year, especially after companies' strong gains in 2018 following a sweeping corporate tax cut.

So far, 66.4 percent of companies in the S&P 500 have reported earnings, with 69 percent beating analysts' forecasts. Earnings growth comes in at 14.5 percent for the quarter. But some companies have tempered their outlooks and analysts currently expect a 2 percent contraction in the first quarter.

Signs that the global economy is slowing have also added to the market's worries about earnings in 2019.

Economists' fears of a global slowdown were given additional fuel from a report Monday showing Britain's economy had its slowest economic growth since the aftermath of the global financial crisis. Both Europe overall and China are contending with slower growth.

Traders also were keeping an eye on the negotiations in Washington aimed at averting another federal government shutdown.

Democrats and the GOP remained separated Monday over how much to spend on President Donald Trump's promised border wall. A Friday midnight deadline is looming to prevent a second partial government shutdown.

Even if the government shuts down again, it's not likely to have a major impact on the stock market, Stovall said.

"While shutdown is certainly a possibility, it's more of an annoyance," he said, noting that the market gained more than 10 percent during the last shutdown.

A surge in sales at Tim Hortons helped lift quarterly earnings for parent company Restaurant Brands. The company, which also operates Burger King, posted quarterly profit that topped Wall Street's forecasts. The stock added 2.1 percent.

Tesla got a boost from Canaccord analysts, who upgraded the stock from "Hold" to "Buy." The analysts noted that results for the last two quarters and the electric car maker's outlook have removed "significant concerns" about the production and profitability of the Model 3, the company's car designed for the mass market.

Meanwhile, LMC Automotive estimated that the Model 3 was the top-selling luxury car in the U.S. last year, outselling the Lexus ES by more than two to one. Shares in Tesla gained 2.3 percent.

Traders also bid up shares in Chipotle Mexican Grill. The restaurant chain hired documentary filmmaker Errol Morris to create ads showcasing its kitchens, prep routines and partners. Morris is the director of the Oscar-winning documentary "Fog of War."

The Mexican-food chain is still rehabilitating its image years after a series of food-borne illnesses scared away customers and drove sales lower. Chipotle shares rose 3.5 percent.

Loews' latest quarterly results put investors in a selling mood.

The commercial insurer tumbled 6.1 percent after it booked a fourth-quarter loss due to higher catastrophe losses.

Activision Blizzard shares sank 7.6 percent following a Bloomberg report saying the video game company plans to announce layoffs on Tuesday, when it's scheduled to report quarterly results. The report, which Bloomberg posted late Friday, cited unnamed people familiar with the matter.

Shares in rivals Take-Two Interactive and Electronic Arts took a beating last week after the companies gave investors a weak outlook for the current quarter.

On Monday, Take-Two slid 3.8 percent. Electronic Arts, which recovered Friday on strong sales of a new game, declined 0.4 percent.

U.S. benchmark crude fell 0.6 percent to settle at $52.41 per barrel in New York. Brent crude, the standard for international oil prices, dropped 1 percent to close at $61.51 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.65 percent from 2.63 percent late Friday.

The dollar rose to 110.40 yen from 109.77 yen on Friday. The euro weakened to $1.1276 from $1.1324.

Gold fell 0.5 percent to $1,311.90 an ounce. Silver lost 0.8 percent to $15.69 an ounce. Copper dropped 0.7 percent to $2.79 a pound.

In other energy futures trading, wholesale gasoline slid 1.9 percent to $1.42 a gallon. Heating oil declined 0.8 percent to $1.89 a gallon. Natural gas rose 2.3 percent to $2.64 per 1,000 cubic feet.

 

[bigdog]

U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.

Almost sea of green!!

https://www.usnews.com/news/busines...an-stocks-rise-after-listless-wall-street-day

US Stocks Surge on US-China Trade Deal Optimism
U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.
Feb. 12, 2019, at 4:50 p.m.

By DAMIAN J. TROISE and ALEX VEIGA, AP Business Writers

U.S. stocks finished broadly higher Tuesday as investors grew more optimistic about the prospects for a resolution to the costly trade dispute between the U.S. and China.

Technology, financial and health care stocks powered much of the rally, which gave the benchmark S&P 500 index its biggest gain this month and a three-day winning streak. The wave of buying also drove a 372-point gain for the Dow Jones Industrial Average, ending the average's four-day run of losses.

President Donald Trump said Tuesday that he might let a March 2 deadline slide in trade talks with China if the two countries get close to a deal. Trump also said he's not inclined to extend the deadline, but might let it "slide for a little while" if talks go well. Earlier, the White House had called March 2 a "hard deadline."

Both nations are trying to reach a deal before March 1. That's when additional tariffs will kick in, escalating the conflict and further hurting companies and consumers with higher prices on materials and products.

"Any deal would help alleviate some of the uncertainty," said Karyn Cavanaugh, senior markets strategist at Voya Investment Management. "The GDP hasn't been dinged that much from the trade tariffs, it's really been the uncertainty. It's spilling over into business plans and that's a hurdle for growth."

The S&P 500 index gained 34.93 points, or 1.3 percent, to 2,744.73. The Dow climbed 372.65 points, or 1.5 percent, to 25,425.76. The index was briefly up by 405 points.

The Nasdaq composite rose 106.71 points, or 1.5 percent, to 7,414.62. The Russell 2000 index of smaller-company stocks, which has been leading the other indexes this year, added 19.25 points, or 1.3 percent, to 1,538.23.

European markets finished higher.

Stocks got an early boost Tuesday after lawmakers in Washington reached a tentative deal to avoid another partial government shutdown. The agreement on border security involves far less money for a wall than the White House wanted, and it's not clear whether President Donald Trump will support the deal.

Still, the move alleviated some uncertainty for the market as the U.S. and China continue trade negotiations, which resumed Monday.

Fears of a global slowdown still linger. Europe and China have both reported slower growth. Those concerns have dimmed the outlook for corporate earnings growth this year.

The latest company earnings season has featured solid profit growth for the final three months of 2018, but caution about conditions going forward. Analysts predict profits will fall in the current quarter, according to FactSet.

"Overall earnings are good, but we're looking for a bit of a slowdown in the first quarter because we have a high bar to hurdle over," Cavanaugh said.

Investors continued to size up the latest batch of corporate earnings Tuesday.

Under Armour climbed 6.9 percent after the maker of sportswear beat Wall Street forecasts. A surge in international sales offset a downturn in Under Armour's U.S. sales.

Molson Coors plunged 9.4 percent as lower sales volume sunk revenue and profit during the fourth quarter. The brewer will also restate some past results. The maker of Molson and Coors beer said tax accounting errors in 2016 and 2017 prompted the restatements.

Traders bid up shares in Coty Inc., maker of CoverGirl, Max Factor and other cosmetic brands, after German conglomerate JAB Holdings offered to take a majority stake in the company. Coty's shares jumped 12.5 percent.

Technology stocks helped power the market's gains Tuesday. Micron Technology climbed 4.7 percent. Financial companies also notched big gains. Brighthouse Financial surged 13.9 percent.

U.S. benchmark crude rose 1.3 percent to settle at $53.10 per barrel in New York. Brent crude, the standard for international oil prices, gained 1.5 percent to close at $62.42 per barrel in London.

Bond prices fell. The yield on the 10-year Treasury rose to 2.68 percent from 2.66 percent late Monday.

The dollar rose to 110.52 yen from 110.40 yen on Monday. The euro strengthened to $1.1331 from $1.1276.

Gold added 0.2 percent to $1,314 an ounce. Silver was little changed at $15.69 an ounce. Copper dropped 0.6 percent to $2.77 a pound.

In other energy futures trading, wholesale gasoline added 0.6 percent to $1.43 a gallon. Heating oil climbed 0.9 percent to $1.90 a gallon. Natural gas gained 1.7 percent to $2.69 per 1,000 cubic feet.