NYSE Dow Jones finished today at:

[bigdog]

The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as the stock market's rally carried into a fifth week.

Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It's a notable shift in leadership following months of struggles for what Wall Street calls "cyclical" stocks, which lagged due to worries about trade wars and the slowing global economy.

Behind the resurgence for cyclicals are rising hopes that the United States and China are making progress in negotiations on their trade dispute, or at least that they're no longer making it worse. Reports last week also showed that the job market is continuing to grow, corporate profits aren't doing as badly as Wall Street expected and interest rates will likely remain low for a while.

Even in manufacturing, which has been hit particularly hard by President Donald Trump's trade war, investors saw some hopes that things may be hitting bottom soon.

The Dow climbed 114.75 points, or 0.4%, to 27,462.11 and surpassed its prior all-time high set in July.

The S&P 500 rose 11.36, or 0.4%, to 3,078.27, and the Nasdaq composite added 46.80, or 0.6%, to 8,433.20. Both the S&P 500 and Nasdaq also clinched records.

According to the latest SPI futures, the ASX 200 is expected to open 38 points or 0.6% higher this morning.

https://www.usnews.com/news/busines...rkets-follow-wall-street-rise-on-us-jobs-data

Dow Hits Record as Stock Market Rally Extends Into 5th Week
The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as a rally in the stock market carried into its fifth week.
By Associated Press, Wire Service Content Nov. 4, 2019, at 4:32 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as the stock market's rally carried into a fifth week.

Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It's a notable shift in leadership following months of struggles for what Wall Street calls "cyclical" stocks, which lagged due to worries about trade wars and the slowing global economy.

Behind the resurgence for cyclicals are rising hopes that the United States and China are making progress in negotiations on their trade dispute, or at least that they're no longer making it worse. Reports last week also showed that the job market is continuing to grow, corporate profits aren't doing as badly as Wall Street expected and interest rates will likely remain low for a while.

Even in manufacturing, which has been hit particularly hard by President Donald Trump's trade war, investors saw some hopes that things may be hitting bottom soon.

The Dow climbed 114.75 points, or 0.4%, to 27,462.11 and surpassed its prior all-time high set in July.

The S&P 500 rose 11.36, or 0.4%, to 3,078.27, and the Nasdaq composite added 46.80, or 0.6%, to 8,433.20. Both the S&P 500 and Nasdaq also clinched records.

"Investors are doing what we're theoretically supposed to be doing: We're looking out at the next 12 to 18 months and investing on the basis of where it's going, not on where we're at today," said Tom Stringfellow, chief investment officer at Frost Investment Advisors.

"We are investing on expectations that whatever the worst is, we're there now."

Of course, all that optimism could wash away quickly if U.S.-China trade talks take yet another turn for the worse, Stringfellow said. But investors likely need to see only incremental improvements, rather than comprehensive deals, to keep the momentum going, he said.

Rising optimism in the market was evident not only in U.S. stock indexes but also in higher yields for Treasurys. When investors feel less need for safety, the crowd thins to buy Treasury bonds. And when prices fall for Treasurys, their yields rise.

The yield on the 10-year Treasury climbed to 1.77% from 1.72% late Friday. Not only that, the gap between the yields of the 10-year and two-year Treasurys widened, which many on Wall Street see as a sign of increased confidence in the economy.

The two-year yield rose to 1.57% from 1.55%, and the gap between it and the 10-year yield is close to its largest since late July.

Such a widening spread helps banks, which make money by borrowing money at short-term rates and lending it out at longer-term rates.

Financial stocks in the S&P 500 climbed 0.9%, aided by a 1.9% jump for Bank of America and a 1.8% gain for Citigroup.

Other cyclical sectors, such as energy and industrials, were also ahead of the pack.

Chevron jumped 4.6%, and Exxon Mobil added 3% as energy stocks overall climbed 3.1% after the price of oil rose.

A stronger global economy would mean more demand for energy, and benchmark U.S. crude rose 34 cents to $56.54 per barrel. Brent crude, the international standard, rose 44 cents to $62.13 a barrel.

Defensive stocks, meanwhile, lagged. Utilities fell 1.3% for the largest loss in the S&P 500, and real-estate stocks were down 1.1%.

It's a reprieve for cyclicals, which have been becoming a smaller part of the stock market. Investors instead have focused on defensive stocks that can do well even when the economy is turning sour or on companies that can grow almost regardless of the economy, such as Amazon.com, Apple and other big technology companies.

Cyclical companies recently made up about 34% of the S&P 500, down from 41% in early 2018, according to James Paulsen, chief investment strategist at the Leuthold Group.

Part of the reason for the shift into cyclical stocks may simply be the calendar. It's what typically happens late in the year, said Sam Stovall, chief investment strategist at CFRA.

But the shift doesn't necessarily mean the all-clear for the economy and the market. Barry Bannister, head of institutional equity strategy at Stifel, sees cyclical stocks doing better than defensive stocks into the middle of 2020, but he sees the S&P 500 falling back to 3,050 by the end of the year and rising modestly to 3,100 in 2020.

Monday's biggest loss in the S&P 500 came from Under Armour, which said it has been cooperating with federal regulators for two years on an investigation into its accounting practices. Its Class A shares plunged 18.9%.

In overseas stock markets, the French CAC 40 jumped 1.1%, and Germany's DAX returned 1.4%. The FTSE 100 in London added 0.9%, South Korea's Kospi rose 1.4% and the Hang Seng in Hong Kong climbed 1.6%.

Wholesale gasoline was unchanged at $1.66 per gallon. Heating oil climbed 1 cent to $1.94 per gallon. Natural gas rose 11 cents to $2.82 per 1,000 cubic feet.

Gold was unchanged $1,508.00 per ounce, silver rose 1 cent to $18.01 per ounce and copper rose 2 cents to $2.67 per pound.

The dollar rose to 108.64 Japanese yen from 108.26 yen on Friday. The euro strengthened to $1.1127 from $1.1163.

 

[bigdog]

It's the market that continues mostly upward, even though there's still plenty to worry about.

The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.

The gains in recent weeks have been driven by company earnings that haven't been nearly as terrible as Wall Street was expecting, interest rate cuts, hopes for a trade truce and a steadily growing economy.

The upbeat mood marks a pivot from the summer, when worries about trade, Britain's potentially messy exit from the European Union and the slowing global economy loomed over the market.

In Tuesday's trading, the Dow climbed 30.52 points, or 0.1%, to 27,492.63, the S&P 500 fell 3.65 points, or 0.1 percent, to 3,074.62 and the Nasdaq composite rose 1.48 points, or less than 0.1%, to 8,434.68.

The S&P/ASX 200 index looks set to push higher again on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open 20 points or 0.3% higher this morning.

https://www.usnews.com/news/busines...an-markets-advance-following-record-dow-close

Stocks Have Been Rallying This Fall After a Weak Summer
The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.
By Associated Press, Wire Service Content Nov. 5, 2019, at 4:49 p.m.

By CHRIS RUGABER and KEN SWEET, The Associated Press

NEW YORK (AP) — It's the market that continues mostly upward, even though there's still plenty to worry about.

The Dow Jones Industrial Average and the Nasdaq closed at record highs yet again on Tuesday, and the S&P 500 closed barely below the all-time high it reached a day earlier.

The gains in recent weeks have been driven by company earnings that haven't been nearly as terrible as Wall Street was expecting, interest rate cuts, hopes for a trade truce and a steadily growing economy.

The upbeat mood marks a pivot from the summer, when worries about trade, Britain's potentially messy exit from the European Union and the slowing global economy loomed over the market.

Here's a closer look at the factors that have been sending the U.S. stock market to record highs this fall.

CORPORATE EARNINGS AIN'T SO BAD

Wall Street got through the bulk of third-quarter earnings season last week, and the results were much better than what investors had been anticipating.

As of Friday, 71% of the members of the S&P 500 index have reported their results, and 76% of them have reported better-than-forecast results, according to FactSet. Also, 61% have reported higher than expected sales, which is important in the wake of concerns about an economic slowdown and the U.S.-China trade war.

This doesn't mean earnings have been stellar. Expectations were low this quarter, and on a whole, profits in the S&P 500 are down 2.7% from a year ago, according to FactSet. But since companies are beating investors' mediocre expectations, it's provided the market with a base on which to rally upon.

"Of course, any decline is not good news," said Brad McMillan, chief investment officer for Commonwealth Financial Network, in a note to investors. "But the fact that it is smaller than expected is positive_and earnings are expected to resume growth in the fourth quarter."

A DURABLE US ECONOMY

The U.S. economy has repeatedly defied fears of a recession, which had resurfaced in late summer and early fall as trade tensions escalated. Reports on jobs, growth and consumer confidence in the past couple of weeks have pointed to an economy that is overcoming global threats and expanding for a record-long 11th straight year.

Last week, the government estimated that employers added 128,000 jobs in October. It was a modest gain, but the figure was depressed by the temporary loss of about 50,000 striking GM workers and the subtraction of 20,000 short-term Census jobs. Excluding those drags, the job gain would have been much higher. The government also revised up its estimate of job growth for August and September.

Overall, the data suggested that most employers have looked past risks from a global slowdown and the U.S.-China trade war, threats that had caused much concern just a couple of months earlier. Over time, increased hiring tends to fuel consumer spending, which, in turn, could help lift corporate earnings and share prices.

The government also said last week that the nation's gross domestic product, the broadest gauge of economic growth, expanded at a 1.9% annual rate in the July-September quarter. Though sluggish, that figure was roughly in line with the average annual growth throughout the expansion that began in 2009. It suggested that the economy remains resilient.

And on Tuesday, an index that measures growth in the economy's vast service sector — made up of industries ranging from restaurants to banking to health care — rose in October to show solid expansion after having touched a three-year low in September.

___

HOPES FOR DEFUSING GLOBAL THREATS

One of the biggest drags on business confidence and investment has been the uncertainty and higher costs injected by the Trump administration's trade war with China. The administration has imposed tariffs on roughly three-quarters of China's exports, including toys, electronics and other consumer goods. Beijing has retaliated with tariffs on most U.S. exports to China.

Yet since early October, a thaw has developed. The two sides have moved toward a potential first-stage deal that probably would lead to the cancellation of further tariffs that President Donald Trump has threatened to impose and possibly to the lifting of some existing tariffs. Optimism has risen that an initial agreement might be reached this month.

Another source of uncertainty has been the prospect of a disorderly exit by the United Kingdom from the European Union. Yet that concern was postponed after the EU agreed last month to delay a deadline for the U.K.'s departure from Oct. 31 to Jan. 31 amid signs that a Brexit agreement might be reached.

With these uncertainties fading if not lifting, it's possible that U.S. companies will soon resume investing in machinery, computers and other equipment to expand their businesses. That would provide another source of growth for the U.S. economy, in addition to the consumer spending that has nearly alone driven the expansion for the past six months.

Federal Reserve Chairman Jerome Powell cited the easing global tensions as a factor in why the Fed will likely keep interest rates unchanged when it next meets in December after three rate cuts this year.

___

ULTRA-LOW INTEREST RATES

Those reductions in the benchmark short-term interest rate the Fed controls have also contributed to rising share prices.

The Fed's rate cuts have helped keep longer-term rates low. The yield on the 10-year Treasury is now just 1.9%, down from 3.2% nearly a year ago.

With the 10-year yield barely above the 1.7% inflation rate, many investors feel compelled to seek out higher returns in the stock market, thereby inflating share prices to levels that some strategists see as worrisome.

And while Powell hinted that the Fed will likely stop cutting rates, he also made clear that rate hikes aren't likely in the foreseeable future. That would mean that Treasury yields will remain low.

In Tuesday's trading, the Dow climbed 30.52 points, or 0.1%, to 27,492.63, the S&P 500 fell 3.65 points, or 0.1 percent, to 3,074.62 and the Nasdaq composite rose 1.48 points, or less than 0.1%, to 8,434.68.

The price of U.S. crude oil rose 69 cents to settle at $57.23 a barrel. Brent crude, the international standard, rose 83 cents to $62.96 a barrel. Wholesale gasoline rose 1 cent to $1.67 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas rose 4 cents to $2.86 per 1,000 cubic feet.

Gold fell $27.20 to $1,480.80 per ounce, silver fell 49 cents to $17.52 per ounce and copper fell 3 cents to $2.70 per pound.

The dollar rose to 109.24 Japanese yen from 108.64 yen on Tuesday. The euro weakened to $1.1065 from $1.1127.

 

[bigdog]

A meandering day of trading left U.S. stock indexes close to their record highs on Wednesday, as strong gains for health care companies jousted with sharp drops in energy stocks.


The market took a decisive turn lower in the middle of the day after a report from Reuters said the United States and China may delay signing "phase one" of their trade deal until December, but the drop didn't last long. After sinking 0.3%, the S&P 500 erased its loss within about two hours.

By the end of the day, the S&P 500 index was up 2.16 points, or 0.1%, at 3,076.78. It's within two points of its record.

The Dow Jones Industrial Average dipped 0.07 points, less than 0.1%, to 27,492.56, and the Nasdaq composite fell 24.05, or 0.3%, to 8,410.63.

The U.S.-China trade war has been a top concern for investors since early 2018, and momentum has recently been tilting toward at least a partial agreement. That, combined with encouraging reports on the economy and corporate profits, have recently propelled U.S. indexes past their prior peaks from July to all-time highs.

Investor optimism has steadied somewhat, holding back global markets but a positive open for the ASX looks ahead with futures at 7.50am AEDT pointing to a gain of 29 points, or 0.4 per cent, at the open.

https://www.usnews.com/news/busines...-stocks-mixed-on-possible-us-china-trade-snag

US Stock Indexes Hit Pause, Hold Close to Record Levels
Stock indexes held close to their record heights Wednesday as strong gains for health care companies helped make up for sharp drops in energy stocks.
By Associated Press, Wire Service Content Nov. 6, 2019, at 4:31 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — A meandering day of trading left U.S. stock indexes close to their record highs on Wednesday, as strong gains for health care companies jousted with sharp drops in energy stocks.

The market took a decisive turn lower in the middle of the day after a report from Reuters said the United States and China may delay signing "phase one" of their trade deal until December, but the drop didn't last long. After sinking 0.3%, the S&P 500 erased its loss within about two hours.

By the end of the day, the index was up 2.16 points, or 0.1%, at 3,076.78. It's within two points of its record.

The Dow Jones Industrial Average dipped 0.07 points, less than 0.1%, to 27,492.56, and the Nasdaq composite fell 24.05, or 0.3%, to 8,410.63.

The U.S.-China trade war has been a top concern for investors since early 2018, and momentum has recently been tilting toward at least a partial agreement. That, combined with encouraging reports on the economy and corporate profits, have recently propelled U.S. indexes past their prior peaks from July to all-time highs.

While acknowledging that trade talks could easily falter again, Jeff Mills, chief investment officer at Bryn Mawr Trust, said both sides have an incentive to come to a deal. China's economic growth has slowed under the weight of increased U.S. tariffs. President Donald Trump's chances of re-election, meanwhile, likely hinge in large part on the economy, and a worsening trade war would only sour it.

Mills is optimistic the economy will show more life after the Federal Reserve cut interest rates three times this year, if trade tensions continue to ratchet lower. It would be a sharp turnaround from just a few months ago, when worries were spiking that Trump's trade war and four interest-rate increases by the Federal Reserve in 2018 could tip the economy into a recession.

"People know this intellectually but tend not to focus on it: Changes in interest rates impact the economy with a significant lag," Mills said. "What we've been seeing the last year or so is the economy absorbing the rise in interest rates that we experienced in 2018."

Early next year, the economy should start to get a boost from the Fed's three rate cuts since the summer, "and I would expect the market to see the recession narrative as overblown," he said.

Until then, though, markets are still trading on every whiff of news about trade. Wednesday's moves following the report of a possible "phase one" delay demonstrated that.

"Trade is a key issue but it's difficult to gain an edge because no deal has been signed," said Tom Hainlin, national investment strategist at U.S. Bank Wealth Management. "It's proving to be challenging for investors."

One thing more certain for investors has been the steady flow of better-than-expected profit reports from big companies. Over the last month, hundreds have told investors how much they made from July through September, and in most cases the declines were not as steep as analysts had forecast.

With about 80% of reports in hand, S&P 500 companies on track to report a drop of 2.6% in earnings from a year earlier, according to FactSet. That's versus initial expectations for a 4% decline.

Health care stocks had some of Wednesday's most notable reports. CVS Health helped lead the way with a 5.4% gain after it reported a stronger profit for the latest quarter than analysts expected and raised its forecast for the year. Humana jumped 3.5% after it also turned in a better-than-expected earnings report.

Together, they helped drive health care stocks in the S&P 500 to a 0.6% gain, the largest among the 11 sectors that make up the index.

On the losing end were energy stocks, which sank 2.3% for the market's worst losses after oil prices slumped.

Exxon Mobil lost 2.2%, and oilfield services provider Schlumberger fell 3.2%. Occidental Petroleum tumbled 5.5%.

Benchmark U.S. crude lost 88 cents to $56.35 per barrel after a report showed that the amount of oil supplies in inventories rose last week. Brent crude fell $1.22 to $61.74.

Treasury yields dipped, putting at least a temporary halt to the strong gains they've made in recent days. The yield on the 10-year Treasury fell to 1.82% from 1.86% late Tuesday.

Global markets mostly drifted higher. France's CAC 40 rose 0.3%, Germany's DAX returned 0.2% and the FTSE 100 in London added 0.1%. The Japanese Nikkei 225 rose 0.2%, the South Korean Kospi gained 0.1% and the Hang Seng in Hong Kong was virtually flat.

In commodities markets, wholesale gasoline fell 5 cents to $1.63 per gallon. Heating oil lost 3 cents to $1.93 per gallon. Natural gas fell 3 cents to $2.83 per 1,000 cubic feet.

Gold rose $9.40 to $1,490.20 per ounce, silver rose 4 cents to $17.56 per ounce and copper fell 3 cents to $2.66 per pound.

The dollar fell to 108.93 Japanese yen from 109.24 yen on Tuesday. The euro edged up to $1.1069 from $1.1065.

 

[bigdog]

In the stock market, it's all about trade now.

Stocks were jumping early Thursday after China said both sides in the U.S.-China trade war had agreed to roll back tariffs if their talks progress. But an afternoon report from Reuters citing fierce opposition within the White House to the agreement undercut the enthusiasm, and the majority of the market's gains evaporated.

By the end of trading, the S&P 500 was up 8.40 points, or 0.3%, at 3,085.18. It managed to set a record for the second time this week, but it had been on pace for a bigger, 0.7% gain earlier in the day.

The Dow Jones Industrial Average climbed 182.24, or 0.7%, to 27,674.80 and also set a record. The Nasdaq composite finished just shy of its all-time high after rising 23.89, or 0.3%, to 8,434.52.

Encouraging reports on the economy and corporate profits have helped drive stocks back to record heights in recent weeks. The U.S. job market remains strong, and the Federal Reserve has cut interest rates three times since the summer to bolster the economy. Earnings for big companies, meanwhile, weren't as bad in the summer as Wall Street had feared.

That leaves the U.S. trade war as the wildcard for the global economy, and markets are trading on every whiff of movement about it as a result.

It looks set to be a positive finish to the week for the S&P/ASX 200 index on Friday. According to the latest SPI futures, the ASX 200 is expected to open 16 points or 0.25% higher this morning.

https://www.usnews.com/news/busines...asian-stocks-mixed-after-us-indexes-hit-pause

Stocks Stumble to More Records on Conflicting Trade Reports
The S&P 500 pushed to another record Thursday after China's commerce ministry said that both sides in the U.S.-China trade war had agreed to roll back tariffs on each other's goods if talks continue to progress.
By Associated Press, Wire Service Content Nov. 7, 2019, at 4:47 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — In the stock market, it's all about trade now.

Stocks were jumping early Thursday after China said both sides in the U.S.-China trade war had agreed to roll back tariffs if their talks progress. But an afternoon report from Reuters citing fierce opposition within the White House to the agreement undercut the enthusiasm, and the majority of the market's gains evaporated.

By the end of trading, the S&P 500 was up 8.40 points, or 0.3%, at 3,085.18. It managed to set a record for the second time this week, but it had been on pace for a bigger, 0.7% gain earlier in the day.

The Dow Jones Industrial Average climbed 182.24, or 0.7%, to 27,674.80 and also set a record. The Nasdaq composite finished just shy of its all-time high after rising 23.89, or 0.3%, to 8,434.52.

Encouraging reports on the economy and corporate profits have helped drive stocks back to record heights in recent weeks. The U.S. job market remains strong, and the Federal Reserve has cut interest rates three times since the summer to bolster the economy. Earnings for big companies, meanwhile, weren't as bad in the summer as Wall Street had feared.

That leaves the U.S. trade war as the wildcard for the global economy, and markets are trading on every whiff of movement about it as a result.

"It's not that trade is more important to the market than economic growth or than the Fed," said Steve Chiavarone, equity strategist at Federated Investors. "It's that the market has already priced in that picture" of a still solid economy and easier interest rates.

"What's left to be determined is trade, and there's a greater amount of uncertainty because we've had head fakes before."

President Donald Trump's trade war has been a top concern for investors since early 2018. Increased tariffs not only raise costs and sap profits for U.S. companies. They also can and have made CEOs hesitant to spend on new factories, expansions and other investments given all the uncertainties about what the rules of trade will be.

Momentum has been moving toward a deal, at least an incremental one that prevents conditions from getting worse.

Altogether, the improvements mean the worries about a possible recession that dominated markets just a few months ago are diminishing. That in turn has more on Wall Street confident that this bull market for stocks, which already is the longest on record, can keep going.

More than a dozen companies joined the lengthy parade of those reporting stronger profits for the latest quarter than analysts expected.

Qualcomm jumped 6.3% after it reported both revenue and earnings that topped Wall Street's forecasts, and Ralph Lauren surged 14.7% for the biggest gain in the S&P 500 following its own better-than-expected results.

Companies are no longer getting the benefit of the first year of lower tax rates, and they're also contending with a slowing global economy weighing on their sales. But the S&P 500 is on track to report a drop of 2.5% in third-quarter earnings per share from a year earlier, versus the 4% that analysts initially expected, according to FactSet.

In a sign of increased optimism about the economy, the yield on the 10-year Treasury climbed to 1.92% from 1.81% late Wednesday. It has risen sharply over the last five weeks and is close to its highest level since the start of August.

The jump in yields helped send bank stocks, whose profits benefit from higher rates for mortgages and other loans, to some of the market's biggest gains.

Other market leaders included oil companies and others that Wall Street calls "cyclical" stocks because their profits are so closely tied to where the economy is in its growth-and-recession cycle.

Energy stocks jumped 1.6% for the largest gain among the 11 sectors that make up the S&P 500, and financial stocks climbed 0.7%.

It's a turnaround from a few months ago, when utilities and other so-called "defensive" areas led the way.

On the losing side were several companies that focus on travel, which sank after reporting weaker-than-expected quarterly results. TripAdvisor plunged 22.4%, and Expedia Group plummeted 27.4%.

In overseas markets, Germany's DAX returned 0.8%, France's CAC 40 rose 0.4% and the FTSE 100 in London added 0.1%. Japan's Nikkei 225 rose 0.1%, the Hang Seng in Hong Kong climbed 0.6% and the Kospi in South Korea was close to flat.

Benchmark crude oil rose 80 cents to settle at $57.15 a barrel. Brent crude oil, the international standard, rose 55 cents to $62.29 a barrel. Wholesale gasoline rose 1 cent to $1.64 per gallon. Heating oil declined 1 cent to $1.92 per gallon. Natural gas fell 6 cents to $2.77 per 1,000 cubic feet.

Gold fell $26.00 to $1,464.20 per ounce, silver fell 59 cents to $16.97 per ounce and copper rose 6 cents to $2.72 per pound.

The dollar rose to 109.31 Japanese yen from 108.93 yen on Wednesday. The euro weakened to $1.1048 from $1.1069.

 

[bigdog]

The stock market capped another week of healthy gains on Friday, but it ended on more of a befuddled note than a bang as confusion about the U.S.-China trade war hung over the market.

Stocks wobbled between small gains and losses through the day amid conflicting signals about the progress being made by U.S. and Chinese negotiators. President Donald Trump said he has not agreed to roll back any tariffs, just a day after a Chinese official said the two sides had agreed to do just that if talks progress.

Stocks and bond yields dipped immediately after Trump told reporters at the White House, "I haven't agreed to anything." But after flip-flopping through the day, the S&P 500 turned higher in the last hour of trading and closed at a record 3,093.08, up 7.90, or 0.3%.

It's the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.

The Dow Jones Industrial Average edged up 6.44 points, or less than 0.1%, to 27,681.24, and the Nasdaq composite gained 40.80, or 0.5%, to 8,475.31.

Even with the conflicting signals on the trade war, momentum has seemed to be in the direction of a stopgap deal. Wall Street hopes only that it will keep the trade war from worsening: Another round of tariffs on Chinese goods is scheduled to begin next month. Investors aren't expecting a grand bargain anytime soon that solves all the problems between the world's two largest economies.

Chart DOW vs AORD

https://www.usnews.com/news/busines...ks-lower-amid-uncertainty-over-us-china-trade

Stocks Push Past Latest Trade-War Confusion to More Records
Stocks wobbled between small gains and losses through Friday amid conflicting signals about the progress being made by U.S. and Chinese negotiators.
By Associated Press, Wire Service Content Nov. 8, 2019, at 4:43 p.m.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The stock market capped another week of healthy gains on Friday, but it ended on more of a befuddled note than a bang as confusion about the U.S.-China trade war hung over the market.

Stocks wobbled between small gains and losses through the day amid conflicting signals about the progress being made by U.S. and Chinese negotiators. President Donald Trump said he has not agreed to roll back any tariffs, just a day after a Chinese official said the two sides had agreed to do just that if talks progress.

Stocks and bond yields dipped immediately after Trump told reporters at the White House, "I haven't agreed to anything." But after flip-flopping through the day, the S&P 500 turned higher in the last hour of trading and closed at a record 3,093.08, up 7.90, or 0.3%.

It's the fifth straight week of gains for the index, which matches its longest winning streak in the last two years.

The Dow Jones Industrial Average edged up 6.44 points, or less than 0.1%, to 27,681.24, and the Nasdaq composite gained 40.80, or 0.5%, to 8,475.31.

"The general tone of the market will continue to be very cautiously optimistic," said JJ Kinahan, chief market strategist at TD Ameritrade.

Even with the conflicting signals on the trade war, momentum has seemed to be in the direction of a stopgap deal. Wall Street hopes only that it will keep the trade war from worsening: Another round of tariffs on Chinese goods is scheduled to begin next month. Investors aren't expecting a grand bargain anytime soon that solves all the problems between the world's two largest economies.

Economic reports, meanwhile, have been encouraging recently and show the job market remains strong. Interest rates are low following three cuts by the Federal Reserve, and corporate profits haven't been as bad as Wall Street feared.

Rising confidence can be found not only in record-high stock prices but also in a sharp rise for Treasury yields. When investors feel less need for safety, they sell government bonds. And when Treasury prices fall, their yields rise.

The 10-year Treasury yield climbed to 1.94% from 1.92% late Thursday and from a low of 1.50% just last month.

Not only are yields on the rise, so is the gap between short- and long-term Treasurys. That's seen as a vote of confidence in the economy by the bond market, and it means a closely followed warning bell about recession has turned silent.

The 10-year Treasury yield dropped below the two-year yield in late August and early September. It's a relatively rare thing, and it's often correctly predicted recessions in the past, though it doesn't have a perfect record.

Since the summer, though, increased optimism in the economy and the odds of a U.S.-China trade deal have flipped the yield curve back to normal. The gap between the two- and 10-year Treasurys is back at its healthiest level since July.

Confidence may have gotten so high recently that stock prices have become too expensive, said George Young, portfolio manager at Villere & Co.

He sees so few stocks attractively priced that he now has 15% of his clients' money at mutual funds and separately managed account sitting in cash. In June, when worries about the economy and trade war were higher, Young had only 5% in cash given the many bargains available.

"I wouldn't say I'm negative on the market," Young said, "but when stocks get ahead of themselves, it's incumbent upon me to balance against the long term."

Walt Disney jumped 3.8% for one of the biggest gains in the S&P 500 after it reported stronger profit for the latest quarter than Wall Street expected, thanks in part to its "Toy Story 4"and "The Lion King" movies. The company also said it received a positive response from a test of its planned streaming service, Disney Plus.

On the losing end was Gap, which sank 7.6% for the largest loss in the S&P 500 after the retailer slashed its profit forecast for the year. It also announced the resignation of CEO Art Peck.

Benchmark crude oil rose 9 cents to settle at $57.24 a barrel. Brent crude oil, the international standard, rose 22 cents to $62.51 a barrel. Wholesale gasoline fell 1 cent to $1.63 per gallon. Heating oil was unchanged at $1.92 per gallon. Natural gas rose 2 cents to $2.79 per 1,000 cubic feet.

Gold rose $2.90 to $1,461.30 per ounce, silver rose 19 cents to $16.78 per ounce and copper fell 4 cents to $2.68 per pound.

The dollar fell to 109.15 Japanese yen from 109.31 yen on Thursday. The euro weakened to $1.1024 from $1.1048.

8570

 

[bigdog]

U.S. stocks mostly fell on Monday as uncertainty continues to hang over U.S.-China trade talks, or at least over investors’ perception of them.

The stock market has been rallying for five weeks in part on optimism that the United States and China are nearing a stopgap deal to calm their dispute. But President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were “incorrect,” only two days after a Chinese official said both sides agreed to rollbacks if talks progress.

Stocks dropped as soon as trading began Monday, and the S&P 500 lost as much as 0.6% from its record level, though indexes pared their losses as the day progressed.

By the end of trading, the S&P 500 was down 6.07 points, or 0.2%, at 3,087.01. The Nasdaq composite slipped 11.04, or 0.1%, to 8,464.28.

The Dow Jones Industrial Average was an outlier and eked out another record, in large part because of a big gain for Boeing. It added 10.25 points, or less than 0.1%, to 27,691.49.

It looks set to be another day of gains for the S&P/ASX 200 index. According to the latest SPI futures, the ASX 200 is expected to open 6 points or 0.1% higher this morning.

https://apnews.com/a953613f2a954dcdbb423adf3de85dd8

Stocks slip as uncertainty reigns in US-China trade talks
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — U.S. stocks mostly fell on Monday as uncertainty continues to hang over U.S.-China trade talks, or at least over investors’ perception of them.

The stock market has been rallying for five weeks in part on optimism that the United States and China are nearing a stopgap deal to calm their dispute. But President Donald Trump said over the weekend that reports about U.S. willingness to lift tariffs were “incorrect,” only two days after a Chinese official said both sides agreed to rollbacks if talks progress.

Stocks dropped as soon as trading began Monday, and the S&P 500 lost as much as 0.6% from its record level, though indexes pared their losses as the day progressed.

By the end of trading, the S&P 500 was down 6.07 points, or 0.2%, at 3,087.01. The Nasdaq composite slipped 11.04, or 0.1%, to 8,464.28.

The Dow Jones Industrial Average was an outlier and eked out another record, in large part because of a big gain for Boeing. It added 10.25 points, or less than 0.1%, to 27,691.49.

A still-strong job market, interest-rate cuts by the Federal Reserve and better-than-expected corporate earnings in the summer have all contributed to a nearly 9% leap for the S&P 500 since late August. The market’s focus, though, has lately seemed to revolve only around the state of U.S.-China trade negotiations.

Stocks in the financial and energy industries have been generally rising since Trump said last month that the U.S. and China were negotiating “Phase One” of a trade deal. But these so-called “cyclical” stocks, whose profits are closely tied to the economic cycle, were among Monday’s losers. Such sudden snaps in movement are frustrating for investors who prefer looking at the longer term.

“The market is myopically focused on the next minute,” said Michael Liss, senior portfolio manager at American Century Investments.

“If I own Chevron or Total, which I do, and we don’t get a ‘Phase One’ signing before the end of the year, I’m not going to sell those stocks,” he said. “I just don’t think that over a three- or five-year time frame, oil demand is going to be dented because of that” even if it “flies in the face of everyone selling cyclicals because we don’t have a trade deal.”

The next hints on progress in negotiations with China may come Tuesday, when Trump is scheduled to deliver a speech on trade and economic policy at the Economic Club of New York.

Monday’s best-performing stocks were real-estate investment trusts, which rose 0.2% for the biggest gain among the 11 sectors that make up the S&P 500. The group pays relatively big dividends, and investors have flocked to them and away from “cyclical” stocks when worries are high that the trade war will hurt the economy.

Boeing soared 4.5% after it said it hopes to resume deliveries of its 737 Max jet next month.

On the losing end were energy stocks, which had some of the market’s sharpest losses as the price of oil weakened. Cabot Oil & Gas dropped 3.4%, Occidental Petroleum lost 3% and Marathon Oil fell 3%.

Bond markets were closed in observance of Veterans Day.

Low interest rates have been a big driver for the stock market’s rally, and the market’s spotlight on Wednesday will shine on Capitol Hill where Fed Chairman Jerome Powell will give testimony about the economy. Most investors expect the Fed to keep interest rates on hold for now after cutting them three times since the summer.

Later this week, the Labor Department will also give updates on inflation at both the consumer and wholesale levels. On Friday, economists expect a government report to show that retail sales returned to growth in October. That would bolster expectations that the economy can keep driving higher as strong consumer spending makes up for manufacturing declines caused by the trade war.

Earnings season is close to complete, and nearly 90% of the companies in the S&P 500 have reported their profits for the July-through-September quarter, according to FactSet. Results have been weak due in part to the slowing global economy, with earnings per share down 2.4% from a year earlier, but they haven’t been as bad as Wall Street had forecast.

Asian stock markets fell. Hong Kong’s Hang Seng slid 2.6% as tensions intensified between police and political protesters. China’s Shanghai Composite index declined 1.8%, Japan’s Nikkei 225 lost 0.3% and South Korea’s Kospi dropped 0.6%.

European markets were mixed. Britain’s FTSE 100 index slipped 0.4%, France’s CAC 40 added 0.1% and Germany’s DAX lost 0.2%.

Benchmark crude oil fell 38 cents to settle at $56.86 a barrel. Brent crude oil, the international standard, fell 33 cents to $62.18 a barrel. Wholesale gasoline fell 2 cents to $1.61 per gallon. Heating oil declined 1 cent to $1.91 per gallon. Natural gas fell 15 cents to $2.64 per 1,000 cubic feet.

Gold fell $5.80 to $1,455.50 per ounce, silver fell 2 cents to $16.76 per ounce and copper fell 2 cents to $2.66 per pound.

The dollar fell to 109.04 Japanese yen from 109.15 yen on Friday. The euro strengthened to $1.1034 from $1.1024.

 

[bigdog]

Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.

The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier.

The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. Still, the benchmark index rebounded nearly all the way back from a loss Monday that ended a three-day winning streak.

President Donald Trump gave an update Tuesday afternoon on trade negotiations with China, saying both sides are close to a "phase-one" deal. The markets didn't have much of a reaction to the remarks, however.

The S&P 500 rose 4.83 points, or 0.2%, to 3,091.84. The index, which set a record high on Friday, has notched gains the past five weeks in a row.

The Dow Jones Industrial Average closed unchanged at 27,691.49. The Nasdaq gained 21.81, or 0.3%, to 8,486.09, a record.

The S&P/ASX 200 index looks set for a better day of trade. According to the latest SPI futures, the ASX 200 is expected to open 21 points or 0.3% higher this morning.

https://www.usnews.com/news/busines...k-indexes-open-slightly-higher-on-wall-street

US Stock Indexes Turn Mixed After Early Rally Loses Momentum
Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.
By Associated Press, Wire Service Content Nov. 12, 2019, at 4:52 p.m.

By ALEX VEIGA, AP Business Writer

Stocks on Wall Street closed with modest gains Tuesday after an early rally lost momentum toward the end of the day.

The Nasdaq composite still finished with its second record high in three days, while the Dow Jones Industrial Average ended unchanged from the all-time high it set a day earlier.

The S&P 500 crossed above the 3,100 level for the first time, placing the index on track for its own milestone finish, but the gains didn't hold. Still, the benchmark index rebounded nearly all the way back from a loss Monday that ended a three-day winning streak.

"There was some excitement on breaking 3,100, that perhaps we could continue higher on the S&P," said JJ Kinahan, chief market strategist at TD Ameritrade. "But we've had such an amazing two weeks that without any blockbuster news it was going to be difficult for us to continue higher."

President Donald Trump gave an update Tuesday afternoon on trade negotiations with China, saying both sides are close to a "phase-one" deal. The markets didn't have much of a reaction to the remarks, however.

The S&P 500 rose 4.83 points, or 0.2%, to 3,091.84. The index, which set a record high on Friday, has notched gains the past five weeks in a row.

The Dow Jones Industrial Average closed unchanged at 27,691.49. The Nasdaq gained 21.81, or 0.3%, to 8,486.09, a record.

The Russell 2000 index of smaller companies added 0.35 points, or less than 0.1%, to 1,595.12.

Stock indexes in Europe finished broadly higher.

Momentum for the market has been mostly upward for more than five weeks as worries about the U.S.-China trade war have eased, among other factors.

On Tuesday, President Trump gave markets more reason for optimism on trade during a midday speech at the Economic Club of New York. Trump said the two sides are "close," and that a "phase-one" deal on trade "could happen soon."

Trump's latest update on trade followed conflicting signals from U.S. and Chinese officials last week on whether the two sides have agreed to any tariff rollbacks as part of the tentative trade agreement they're negotiating.

Besides expectations for a stopgap deal on the trade war, stocks have jumped recently due to interest-rate cuts by the Federal Reserve, data showing the economy is still growingly solidly and corporate earnings reports for the summer that weren't as weak as expected.

The rising confidence in markets has meant fewer buyers piling into the safety of gold, which dropped Tuesday to its lowest price in more than three months.

Treasury yields fell slightly after trading resumed following Monday's holiday in observance of Veterans Day. The yield on the 10-year Treasury note slipped to 1.92% from 1.93% late Friday. It was below 1.50% in early September and has been rallying with confidence in the economy's strength.

Reports have shown that the job market is still growing, which should help households keep spending at a strong clip. Such spending makes up the bulk of the economy, and the expectation is that it can more than make up for the weakness in manufacturing that the trade war is causing.

"That's the next thing we look for," Kinahan said, noting that Black Friday, traditionally one of the busiest shopping days of the year, is only a couple weeks away. "Expectations are really high for spending. So, does the consumer live up to it?"

Health care, technology and communication services stocks led the gainers Tuesday, outweighing losses in energy companies and elsewhere.

Disney rose 1.3% on the day that its highly anticipated streaming video service, Disney Plus, launched. The service had some technical difficulties early in the morning, an indication that demand may have been higher than expected.

Rockwell Automation jumped 10.5% for one of the biggest gains in the S&P 500 after reporting earnings that were better than analysts were expecting.

Across the S&P 500, companies are on track to report a drop of 2.4% in third-quarter earnings per share from a year before. That's not as bad as the 4% decline analysts initially expected, according to FactSet. Just over 90% of the companies in the S&P 500 have reported their results for the summer.

Not all companies are delivering solid quarterly results. Advance Auto Parts skidded 7.5% Tuesday after the auto parts retailer cut its full-year estimates for sales and income.

It's a busy week for economic data. The U.S. Labor Department will give updates on consumer and wholesale inflation. Economists expect a government report to show that retail sales returned to growth in October.

And Federal Reserve Chairman Jerome Powell is due to give testimony to Congress on Wednesday about the U.S. economy. Most investors expect the Fed to keep interest rates on hold for now after cutting them three times since the summer.

Benchmark crude oil fell 6 cents to settle at $56.80 a barrel. Brent crude oil, the international standard, fell 12 cents to $62.06 a barrel. Wholesale gasoline was little changed at $1.61 a gallon. Heating oil fell 1 cent to $1.90 per gallon. Natural gas fell 2 cents to $2.62 per 1,000 cubic feet.

Gold fell $3.40 to $1,451.10 per ounce, silver fell 9 cents to $16.68 per ounce and copper fell 2 cents to $2.64 per pound.

The dollar fell to 108.94 Japanese yen from 109.04 yen on Monday. The euro strengthened to $1.1011 from $1.1034.

 

[bigdog]

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.

The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier.

The latest milestones came after the market bounced back from a late-afternoon slide that coincided with a published report that highlighted snags in the ongoing U.S.-China trade negotiations.

Stocks spent much of the morning with slight gains after Federal Reserve Chairman Jerome Powell told a congressional panel that the central bank is likely to hold off on cutting interest rates again, citing optimism about the U.S. economy.

Investors’ optimism that Washington and Beijing are nearing a stopgap trade deal and Fed interest rate cuts have helped lift the market in recent weeks. Surprisingly good corporate earnings and data showing the economy is still growing solidly have also put investors in a buying mood.

The S&P 500 rose 2.20 points, or 0.1%, to 3,094.04, a record. The benchmark index edged past its last record close, set on Friday. It has now hit new highs 20 times this year, eclipsing the 19 it hit in 2018.

The Dow gained 92.10 points, or 0.3%, to 27,783.59. It also closed at a record high on Monday.

The Nasdaq dropped 3.99 points, or 0.1%, to 8,482.10

The S&P/ASX 200 index looks set to bounce back on Thursday. According to the latest SPI futures, the ASX 200 is expected to open 24 points or 0.35% higher this morning.

https://www.usnews.com/news/busines...sink-after-trump-threatens-more-china-tariffs

Wobbly Day on Wall Street Ends Mixed; New Highs for S&P, Dow
Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.
By Associated Press, Wire Service Content Nov. 13, 2019, at 5:08 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street capped a wobbly day for stocks with another record-setting finish Wednesday.

The Dow Jones Industrial Average and S&P 500 index each eked out a modest gain that was good enough to nudge them to record highs. The Nasdaq closed just below its all-time high set a day earlier.

The latest milestones came after the market bounced back from a late-afternoon slide that coincided with a published report that highlighted snags in the ongoing U.S.-China trade negotiations.

Stocks spent much of the morning with slight gains after Federal Reserve Chairman Jerome Powell told a congressional panel that the central bank is likely to hold off on cutting interest rates again, citing optimism about the U.S. economy.

Investors’ optimism that Washington and Beijing are nearing a stopgap trade deal and Fed interest rate cuts have helped lift the market in recent weeks. Surprisingly good corporate earnings and data showing the economy is still growing solidly have also put investors in a buying mood.

On Wednesday, much of that buying involved safe-play stocks like utilities, real estate companies and makers of consumer products that tend to pay higher dividends. Those sectors outweighed losses in banks, industrial stocks and companies that rely on consumer spending. Demand for bonds also increased, sending bond yields lower.

“It’s a safe-haven kind of approach, but it has more to do with a focus on income,” said Sam Stovall, chief investment strategist at CFRA. “(Investors) are willing to go into these different areas of the market because the economy is strong enough to sustain those dividends.”

The S&P 500 rose 2.20 points, or 0.1%, to 3,094.04, a record. The benchmark index edged past its last record close, set on Friday. It has now hit new highs 20 times this year, eclipsing the 19 it hit in 2018.

The Dow gained 92.10 points, or 0.3%, to 27,783.59. It also closed at a record high on Monday.

The Nasdaq dropped 3.99 points, or 0.1%, to 8,482.10.

Small-company stocks lagged the broader market, sending the Russell 2000 index down 5.94 points, or 0.4%, to 1,589.18.

More stocks fell than rose on the New York Stock Exchange. Stock indexes in Europe finished broadly lower.

Treasury yields continued to fall as demand for bonds increased, driving their prices higher. The yield on the 10-year Treasury note slipped to 1.89% from 1.91% late Friday. It was below 1.50% in early September and has been rallying with confidence in the economy's strength.

Stocks got off to a sluggish start Wednesday as investors awaited the remarks from Powell, who kicked off two days of testimony before congressional panels.

They perked up after the Fed chairman said that the central bank is unlikely to cut rates unless the economy slows enough to cause Fed policymakers to make a “material reassessment” of their outlook.

“Most people going in pretty much assumed that the Fed is now on hold,” Stovall said. “Investors were encouraged that Chairman Powell did not say anything totally out of what was expected.”

The Fed cut short-term rates last month for the third time this year, to a range of 1.5% to 1.75%, in a bid to shield the economy from slower global growth and the U.S.-China trade war.

ADT was among the stocks that helped drive the market higher Wednesday. The home and business security company climbed 8.2% after its latest quarterly results topped Wall Street’s expectations. The company also announced a special dividend.

Shares in Energizer Holdings jumped 15.2% after the battery and personal care products maker’s latest quarterly results handily beat Wall Street’s forecasts.

Benchmark crude oil rose 32 cents to settle at $57.12 a barrel. Brent crude oil, the international standard, gained 31 cents to close at $62.37 a barrel.

Wholesale gasoline rose 3 cents to $1.64 per gallon. Heating oil climbed 1 cent to $1.91 per gallon. Natural gas fell 2 cents to $2.60 per 1,000 cubic feet.

Gold rose $9.60 to $1,461.70 per ounce, silver rose 22 cents to $16.90 per ounce and copper was unchanged at $2.64 per pound.

The dollar fell to 108.79 Japanese yen from 108.94 yen on Tuesday. The euro weakened to $1.1002 from $1.1011.

 

[bigdog]

A day of listless trading on Wall Street ended Thursday with another record high for the S&P 500.

The benchmark index notched its third consecutive gain after spending most of the day wavering between small gains and losses. The Dow Jones Industrial Average and Nasdaq composite also budged little, capping the day with miniscule drops.

The market’s lethargic turn came on a day with little market-moving news. Investors were still awaiting more details on the status of trade talks between the U.S. and China.

Published reports have suggested this week that negotiations between the world’s two largest economies have hit some snags. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

While the market has been sensitive to the swings in the trade talks, the latest speculation did not put most investors in a selling mood

The S&P 500 rose 2.59 points, or 0.1%, to 3,096.63. The Dow slipped 1.63 points, or less than 0.1%, to 27,781.96. The index had briefly been down around 100 points.

The Nasdaq fell 3.08 points, or less than 0.1%, to 8,479.02.

The S&P/ASX 200 index looks set to finish the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open 16 points or 0.25% higher this morning.

https://apnews.com/0663eeaefe3f4c9487b407360a1a5d4a

S&P 500 ekes out record high after listless day of trading
By ALEX VEIGA

A day of listless trading on Wall Street ended Thursday with another record high for the S&P 500.

The benchmark index notched its third consecutive gain after spending most of the day wavering between small gains and losses. The Dow Jones Industrial Average and Nasdaq composite also budged little, capping the day with miniscule drops.

The market’s lethargic turn came on a day with little market-moving news. Investors were still awaiting more details on the status of trade talks between the U.S. and China.

Published reports have suggested this week that negotiations between the world’s two largest economies have hit some snags. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

While the market has been sensitive to the swings in the trade talks, the latest speculation did not put most investors in a selling mood.

“We’ve had headlines like this before and the market is doing a little bit better job of looking through them,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute. “Until something is announced, yay or nay, it probably doesn’t make much sense to trade on it, especially when President Trump himself has tweeted out that talks are going well.”

The S&P 500 rose 2.59 points, or 0.1%, to 3,096.63. The Dow slipped 1.63 points, or less than 0.1%, to 27,781.96. The index had briefly been down around 100 points.

The Nasdaq fell 3.08 points, or less than 0.1%, to 8,479.02. The Russell 2000 index of smaller company stocks dropped 0.39 points, or less than 0.1%, to 1,588.79.

The broader market has been gaining ground for weeks on hopes that the U.S. and China can make progress in their latest push for a deal. Investors have also been encouraged by surprisingly good corporate earnings and data showing the economy is still growing solidly. And the Federal Reserve has helped, lowering interest rates three times this year. The central bank has signaled that it’s done lowering rates, for now, unless the U.S. economy shows any major signs of trouble.

“We’ve been going up, and the path of least resistance is probably higher, but the question is what’s going to take us there?” Samana said. “The Fed’s on hold. Earnings are out of the way, so probably the next thing the market will look to is this trade issue that’s still outstanding.”

Investors hope that Washington and Beijing can come to some sort of an agreement to avert new and potentially more damaging tariffs that are scheduled to take effect in the middle of next month. Those new tariffs would hit some popular consumer products, such as electronic devices, as well as everyday goods. President Donald Trump has been dismissive about any change to tariffs while negotiations continue.

China did make a goodwill gesture of sorts Thursday when it moved to lift a four-year ban on U.S. poultry products. The move sent shares in processed food companies higher. Tyson Foods rose 1.7%, Sanderson Farms gained 3.7% and Pilgrim’s Pride added 1.1%.

The U.S. is the world’s second largest poultry exporter, with global exports of poultry meat and products of $4.3 billion last year. The U.S. Department of Agriculture estimates that more than $1 billion in poultry could be exported to China annually.

Consumer-focused stocks, including Target and Lowe’s, were the best performers Thursday, offsetting declines in technology and energy companies.

Technology stocks were the biggest losers. Cisco Systems fell 7.3% after giving investors a surprisingly weak revenue forecast.

Banks also moved broadly lower. The yield on the 10-year Treasury fell to 1.82% from 1.87% late Wednesday. Lower bond yields hurt banks’ ability to charge more lucrative interest rates on mortgages and other loans.

Retailers and other companies that rely on consumer spending held up best. Lowe’s rose 1.5% and Target added 2.3%. Walmart, which had been solidly higher earlier after reporting strong third-quarter results and raising its annual profit expectations, fell 0.3%.

Dillard’s jumped 14.2% after the department store operator surprised Wall Street with a fiscal third-quarter profit and solid sales.

Industrial and communication services stocks also notched gains. Boeing rose 1.4% and Netflix climbed 2.3%.

Benchmark crude oil fell 35 cents to settle at $56.77 a barrel. Brent crude oil, the international standard, dropped 9 cents to close at $62.28 a barrel. Wholesale gasoline fell 2 cents to $1.62 per gallon. Heating oil climbed 1 cent to $1.92 per gallon. Natural gas rose 5 cents to $2.65 per 1,000 cubic feet.

Gold rose $10.10 to $1,471.80 per ounce, silver rose 11 cents to $17.01 per ounce and copper fell 2 cents to $2.62 per pound.

The dollar fell to 108.37 Japanese yen from 108.79 yen on Wednesday. The euro strengthened to $1.1022 from $1.1002.

European markets closed broadly lower.

 

[bigdog]

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.

Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.

The strong finish caps a week when the major stock indexes set more highs while barely moving and extends a string of gains for the broader market in recent weeks.

Investors have been encouraged by surprisingly good corporate earnings, three interest rate cuts by the Federal Reserve and data showing the economy is still growing solidly. Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood.

“Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird. “It might just be the case that with positive momentum, after not having had a chance to pull the market down, the bulls stepped in again and said: ‘Let’s keep this thing going.’”

The S&P 500 index rose 23.83 points, or 0.8%, to 3,120.46. The benchmark index briefly reached the 3,100 mark earlier in the week.

The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite climbed 61.81, or 0.7%, to 8,540.83. The Russell 2000 index of smaller companies picked up 7.66 points, or 0.5%, to 1,596.45.

The S&P, Dow and Nasdaq are now all up by more than 20% for the year.

Chart DOW vs AORD

https://www.usnews.com/news/busines...-surge-on-bullish-talk-on-china-us-trade-deal

US Stock Indexes End Week of Milestones With More New Highs
Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.
By Associated Press, Wire Service Content Nov. 15, 2019, at 4:58 p.m.

By ALEX VEIGA, AP Business Writer

Wall Street closed out the week with more milestones Friday as the Dow Jones Industrial Average crossed 28,000 for the first time and the S&P 500 and Nasdaq hit record highs.

Health care and technology stocks powered most of the broad rally, which helped drive the S&P 500 to its sixth straight weekly gain. The Dow extended its streak of weekly gains to four.

The strong finish caps a week when the major stock indexes set more highs while barely moving and extends a string of gains for the broader market in recent weeks.

Investors have been encouraged by surprisingly good corporate earnings, three interest rate cuts by the Federal Reserve and data showing the economy is still growing solidly. Hopes that the U.S. and China can make progress in their latest push for a trade deal have also helped keep investors in a buying mood.

“Over the past week the market absorbed a number of challenging trade headlines, and it didn’t go down,” said Willie Delwiche, investment strategist at Baird. “It might just be the case that with positive momentum, after not having had a chance to pull the market down, the bulls stepped in again and said: ‘Let’s keep this thing going.’”

The S&P 500 index rose 23.83 points, or 0.8%, to 3,120.46. The benchmark index briefly reached the 3,100 mark earlier in the week.

The Dow Jones Industrial Average gained 222.93 points, or 0.8%, to 28,004.89. The Nasdaq composite climbed 61.81, or 0.7%, to 8,540.83. The Russell 2000 index of smaller companies picked up 7.66 points, or 0.5%, to 1,596.45.

The S&P, Dow and Nasdaq are now all up by more than 20% for the year.

Bond prices fell Friday, pushing yields higher, a signal that investors were shifting away from safe-play holdings. The yield on the 10-year Treasury rose to 1.84% from 1.81% late Thursday.

Investors hope the world’s two biggest economies can make a deal before new and more damaging tariffs take effect next month. Beijing is pressing Washington to roll back tariffs as part of a potential deal that the nations are trying to hammer out.

Investors mostly shrugged off published reports this week suggesting that trade talks have hit a snag. On Friday, Commerce Secretary Wilbur Ross told Fox Business that it is likely a trade deal will get done, though he noted that it’s still possible a pact could unravel at the last minute as it did in when both sides got close to a deal in May.

A report showing U.S. retail sales rebounded a modest 0.3% in October after falling the previous month also helped put traders in a buying mood. J.C. Penney surged after it raised its profit forecast.

Health care stocks led the way higher Friday, with insurers getting a boost after the Trump administration officially announced a rule that would require hospitals and other providers to make public the rates for drugs, doctor visits and other services. Humana climbed 5.5%, UnitedHealth Group rose 5.3% and Anthem gained 5.6%.

Technology stocks also notched solid gains. Solid quarterly earnings drove Applied Materials 9% higher, making it the biggest gainer in the S&P 500.

Communication services companies also helped lift the market. Google parent Alphabet rose 1.9%, hitting an all-time high.

The materials ended lower, the only sector to finish with a tiny loss. Utilities and makers of household goods posted the smallest gains as investors turned away from less risky, defensive stocks.

Traders bid up shares in several big retailers. J.C. Penney climbed 6.4% after the struggling department store chain reported a smaller quarterly loss and raised its annual profit forecast. Under Armour rose 3.9% and Macy’s gained 3.4%.

RH climbed 7.6% and energy company Occidental Petroleum gained 2.9% after Warren Buffett’s company disclosed that it had picked up shares of both companies.

Amarin vaulted 11.8% after a government advisory panel recommended broader use of its fish oil-based heart disease drug Vascepa.

Benchmark crude oil rose 95 cents to settle at $57.72 a barrel. Brent crude, the international standard, gained $1.02 to close at $63.30 a barrel. Wholesale gasoline rose 2 cents to $1.64 per gallon. Heating oil climbed 3 cents to $1.95 per gallon. Natural gas rose 4 cents to $2.69 per 1,000 cubic feet.

Gold fell $4.50 to $1,467.30 per ounce, silver fell 8 cents to $16.93 per ounce and copper rose 2 cents to $2.64 per pound.

The dollar rose to 108.84 Japanese yen from 108.37 yen on Thursday. The euro strengthened to $1.1053 from $1.1022.

Asian and European markets finished higher.

881

 

[bigdog]

The U.S. stock market inched higher Monday, the latest nudge in its record-setting, six-week run, as markets wait for the next development in trade talks between the United States and China.

All three major indexes edged above the all-time highs they set on Friday, though the seemingly placid moves masked plenty of churn going on underneath. Nearly as many stocks in the S&P 500 fell as rose, and it took big gains for technology stocks and others to make up for sharp losses by oil producers.

The S&P 500 rose 1.57 points, or 0.1%, to 3,122.03. The Dow Jones Industrial Average gained 31.33, or 0.1%, to 28,036.22, and the Nasdaq composite climbed 9.11, or 0.1%, to 8,549.94.

Small-company stocks fell. The Russell 2000 index gave up 4.11, or 0.3%, to 1,592.34.

The market has been on a tear since early October, and indexes have been on a nearly uninterrupted run as worries about a possible recession have faded. Solid economic data, better corporate earnings than analysts expected and interest-rate cuts by the Federal Reserve have all helped.

The S&P/ASX 200 index looks set to edge lower again this morning. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop a single point lower at the open.

https://apnews.com/4ba2e07271f8491b84b79b828bdf0d66

US indexes inch up as stocks churn, markets await trade deal
By STAN CHOE and DAMIAN J. TROISE

NEW YORK (AP) — The U.S. stock market inched higher Monday, the latest nudge in its record-setting, six-week run, as markets wait for the next development in trade talks between the United States and China.

All three major indexes edged above the all-time highs they set on Friday, though the seemingly placid moves masked plenty of churn going on underneath. Nearly as many stocks in the S&P 500 fell as rose, and it took big gains for technology stocks and others to make up for sharp losses by oil producers.

The S&P 500 rose 1.57 points, or 0.1%, to 3,122.03. The Dow Jones Industrial Average gained 31.33, or 0.1%, to 28,036.22, and the Nasdaq composite climbed 9.11, or 0.1%, to 8,549.94.

Small-company stocks fell. The Russell 2000 index gave up 4.11, or 0.3%, to 1,592.34.

The market has been on a tear since early October, and indexes have been on a nearly uninterrupted run as worries about a possible recession have faded. Solid economic data, better corporate earnings than analysts expected and interest-rate cuts by the Federal Reserve have all helped.

That leaves negotiations in the U.S.-China trade war as the remaining wild card for the market. President Donald Trump had earlier hoped to have signatures on the first phase of a trade deal by now, at a major international summit that was scheduled for this past weekend. But the president of the summit’s host nation, Chile, canceled the meeting last month amid nationwide protests.

The two sides are continuing to negotiate, with stock markets around the world swinging on every hint of progress or tension.

“Things are somewhat stable right now, which is really crazy when I think about the geopolitical issues going on abroad and in the U.S.,” said Mike Loewengart, vice president of investment strategy at E-Trade Financial. “But we caution investors to have reasonable expectations for additional gains going forward: Hope for the best, but be mindful that we could see an uptick in volatility at any time.”

Some churn was on display Monday as energy stocks sank 1.3%. It was the largest loss by far among the 11 sectors that make up the S&P 500, and it tracked a sharp drop for oil and natural gas prices. ConocoPhillips fell 2.7%, and Chevron sank 1.7%.

Counterbalancing those losses were big gains for technology stocks, particularly chip makers. They bolted higher after the Commerce Department gave another 90-day extension for Chinese tech giant Huawei to continue doing business with U.S. companies.

Nvidia jumped 4% for the biggest gain in the S&P 500, and Advanced Micro Devices was close behind with a 3.4% rise.

Other winners included stocks in areas of the market that tend to pay big dividends and hold up even when the economy is slowing.

Real-estate stocks and companies that make everyday goods for households both rose 0.5%, for example.

These kinds of stocks are known as “defensive” investments, and they had begun to lag the market in recent weeks as investors opted for companies whose profits can rise more quickly in a healthy economy.

But a drop in Treasury yields Monday may have made the dividends paid by defensive stocks more attractive.

The yield on the 10-year Treasury fell to 1.81% from 1.83% late Friday.

Trading was quiet Monday as the market nears the end of corporate reporting season. More than 90% of companies in the S&P 500 have already said how much profit they made during the summer, and reports have mostly come in ahead of Wall Street’s expectations.

Still on deck are several big retailers. Home Depot will report results on Tuesday. Target and Lowe’s will report results on Wednesday. Macy’s and Gap will release their earnings on Thursday.

Also coming up this week are the release of the minutes from the Federal Reserve’s last meeting, where it decided to cut interest rates for a third time this year, and reports on manufacturing and consumer sentiment.

Overseas stock markets were mixed.

Japan’s Nikkei 225 index rose 0.5%, South Korea’s Kospi slipped 0.1% and the Hang Seng in Hong Kong jumped 1.3%. London’s FTSE 100 added 0.1%, while France’s CAC 40 slipped 0.2% and Germany’s DAX lost 0.3%.

In the commodities markets, benchmark oil fell 67 cents to settle at $57.05 a barrel. Brent crude, the international standard, fell 86 cents to close at $62.44 a barrel. Wholesale gasoline fell 2 cents to $1.62 per gallon. Heating oil declined 5 cents to $1.90 per gallon. Natural gas fell 12 cents to $2.57 per 1,000 cubic feet.

Gold rose $3.60 to $1,470.90 per ounce, silver rose 6 cents to $16.99 per ounce and copper fell 2 cents to $2.62 per pound.

The dollar fell to 108.65 Japanese yen from 108.84 yen on Friday. The euro strengthened to $1.1076 from $1.1053.

 

[bigdog]

Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%. Disappointing earnings from Kohl’s sent other retailer stocks into a skid. A slide in Home Depot’s stock weighed on the Dow Jones Industrial Average, which ended lower a day after inching to a record high.

“It’s almost a carbon copy of yesterday,” Jeff Zipper, managing director at U.S. Bank Private Wealth Management. “The S&P basically flat, the Nasdaq obviously up. Right now, the markets, as we go toward year end, their path of least resistance is up.”

The S&P 500 index slipped 1.85 points, or less than 0.1%, to 3,120.18. The Dow fell 102.20 points, or 0.4%, to 27,934.02. The Nasdaq climbed 20.72 points, or 0.2%, to 8,570.66.

The S&P/ASX 200 index looks set to give back a lot of yesterday’s gain on Wednesday. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop 41 points or 0.6% lower at the open.

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

US Stock Indexes Edge Mostly Lower as Retailers Sink
Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.
By Associated Press, Wire Service Content Nov. 19, 2019, at 5:11 p.m

By ALEX VEIGA, AP Business Writer

Major stock indexes ended a wobbly day of trading on Wall Street mostly lower Tuesday, as losses in energy companies and department store operators edged out gains elsewhere in the market.

A solid showing for technology sector stocks helped lift the Nasdaq composite to another all-time high, while the S&P 500 index finished less than 2 points below the record close it reached on Monday.

Energy sector stocks took the heaviest losses as the price of U.S. crude oil dropped 3.2%. Disappointing earnings from Kohl’s sent other retailer stocks into a skid. A slide in Home Depot’s stock weighed on the Dow Jones Industrial Average, which ended lower a day after inching to a record high.

“It’s almost a carbon copy of yesterday,” Jeff Zipper, managing director at U.S. Bank Private Wealth Management. “The S&P basically flat, the Nasdaq obviously up. Right now, the markets, as we go toward year end, their path of least resistance is up.”

The S&P 500 index slipped 1.85 points, or less than 0.1%, to 3,120.18. The Dow fell 102.20 points, or 0.4%, to 27,934.02. The Nasdaq climbed 20.72 points, or 0.2%, to 8,570.66.

Smaller company stocks fared better than the rest of the market, driving up the Russell 2000 index up 5.95 points, or 0.4%, at 1,598.29.

Major stock indexes in Europe closed mostly higher.

Bond prices rose, sending bond yields lower. The yield on the 10-year Treasury fell to 1.79% from 1.80% late Monday.

U.S. stocks have been steadily rising for weeks as a mix of solid economic data and corporate earnings inject confidence into the market and diminished fears that a recession was imminent.

Technology, by far the best-performing sector this year, has done especially well as investors have grown more hopeful that the U.S. and China will make progress in ending their trade war. Traders hope the world's two biggest economies can deliver on plans for a “phase one” deal before new and more damaging tariffs take effect next month.

Tech stocks were among the big gainers Tuesday, led by chipmakers. Advanced Micro Devices climbed 3.5% and Broadcom rose 2.1%.

Health care stocks accounted for the biggest swath of gains. Pfizer rose 1.2% and Amgen gained 1.7%.

Those gains were kept in check by losses elsewhere in the market.

Oil producers declined as crude oil prices took another stumble. Marathon Petroleum slid 3.4% and Occidental Petroleum lost 3%.

Energy, which trails all other S&P 500 sectors with a gain of only 1% for the year, dropped 1.5% Tuesday.

Disappointing quarterly report cards from Home Depot and Kohl’s weighed on retail stocks.

Home Depot dropped 5.4% after the home improvement company reported weak sales growth for the most recent quarter and cut its forecast for the year. Rival Lowe’s, which will report earnings on Wednesday, fell 1.4%.

Kohl’s plunged 19.5% after the department store operator slashed its profit forecast for the year following weak third-quarter earnings. The weak outlook prompted traders to dump other department store stocks. Macy's sank 10.9% and Nordstrom lost 6.3%. Both report their own results on Thursday.

Not all big retailers had a bad day. Shares in the TJX Cos., rose 1.8% after the parent of T.J. Maxx and Marshalls reported encouraging third-quarter earnings and raised its profit forecast for the year.

Benchmark crude oil fell $1.84 to settle at $55.21 a barrel. Brent crude oil, the international standard, dropped $1.53 to close at $60.91 a barrel. Wholesale gasoline fell 2 cents to $1.60 per gallon. Heating oil declined 4 cents to $1.86 per gallon. Natural gas fell 6 cents to $2.51 per 1,000 cubic feet.

Gold rose $2.40 to $1,473.30 per ounce, silver rose 11 cents to $17.10 per ounce and copper rose 3 cents to $2.65 per pound.

The dollar fell to 108.53 Japanese yen from 108.65 yen on Monday. The euro strengthened to $1.1078 from $1.1076.

 

[bigdog]

SEA OF RED

Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.

Technology stocks took the heaviest losses. Communication services and industrial stocks also were big losers. Banks fell as bond yields declined. Energy stocks notched the biggest gains as crude oil prices rebounded.

A published report suggested a “phase one” trade pact may not be completed this year as negotiators continue to wrestle over differences. Beijing is pressing Washington to agree to broader tariff rollbacks on Chinese goods.

Investors have been hoping the world's two biggest economies can make a deal before new and more damaging tariffs take effect Dec. 15 on about $160 billion in Chinese imports. Those duties would cover smartphones, laptops and other consumer goods.

The selling nudged the major U.S. stock indexes off their recent all-time highs.

The S&P 500 index dropped 11.72 points, or 0.4%, to 3,108.46. The Dow Jones Industrial Average lost 112.93 points, or 0.4%, to 27,821.09. The index was briefly down 258 points.

The Nasdaq slid 43.93, or 0.5%, to 8,526.73. The Russell 2000 index of smaller company stocks gave up 6.68 points, or 0.4%, to 1,591.61.

The S&P/ASX 200 index looks set to continue its slide on Thursday. According to the latest SPI futures, the S&P/ASX 200 index is expected to drop 7 points or 0.1% lower at the open.

https://www.usnews.com/news/busines...etreat-on-poor-japan-trade-data-china-jitters

New US-China Trade Worries Pull Stocks Lower on Wall Street
Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.
By Associated Press, Wire Service Content Nov. 20, 2019, at 4:57 p.m.

By ALEX VEIGA, AP Business Writer

Stocks closed broadly lower on Wall Street Wednesday as investors turned anxious about the possibility that the U.S. and China may not reach a trade deal before next year.

Technology stocks took the heaviest losses. Communication services and industrial stocks also were big losers. Banks fell as bond yields declined. Energy stocks notched the biggest gains as crude oil prices rebounded.

A published report suggested a “phase one” trade pact may not be completed this year as negotiators continue to wrestle over differences. Beijing is pressing Washington to agree to broader tariff rollbacks on Chinese goods.

Investors have been hoping the world's two biggest economies can make a deal before new and more damaging tariffs take effect Dec. 15 on about $160 billion in Chinese imports. Those duties would cover smartphones, laptops and other consumer goods.

“If a deal is not going to get done before the end of the year, then all of a sudden this uncertainty comes back in around what’s going to happen around December 15,” said Scott Ladner, chief investment officer at Horizon Investments. “Are the tariffs back on the table again? The market has certainly come to expect that those are not going to happen.”

The selling nudged the major U.S. stock indexes off their recent all-time highs.

The S&P 500 index dropped 11.72 points, or 0.4%, to 3,108.46. The Dow Jones Industrial Average lost 112.93 points, or 0.4%, to 27,821.09. The index was briefly down 258 points.

The Nasdaq slid 43.93, or 0.5%, to 8,526.73. The Russell 2000 index of smaller company stocks gave up 6.68 points, or 0.4%, to 1,591.61.

Major stock indexes in Europe also closed lower.

Growing optimism among investors that the U.S. and China were making progress toward a limited trade deal helped pave the way for gains in the market in recent weeks, including a string of all-time highs for the major stock indexes.

That optimism dimmed Wednesday as investors weighed the implications of more tariffs kicking in next month.

The two countries have raised tariffs on billions of dollars of each other's goods in the fight over China's trade surplus and technology ambitions. That weighs on trade worldwide and threatens to depress corporate earnings and global economic growth, which has already showed signs of slowing.

President Donald Trump said Tuesday he was prepared to raise tariffs on Chinese exports if the nations can’t reach an agreement on trade.

The Senate may have complicated the path to a deal Wednesday, when it passed a resolution in support of human rights in Hong Kong following months of antigovernment protests. China condemned the move and threatened “strong countermeasures.”

Technology and communication services companies were among the biggest losers Wednesday. HP fell 2% and AT&T slid 2.2%.

Citigroup dropped 1.2% as financial stocks fell along with bond yields. The yield on the 10-year Treasury slid to 1.74% from 1.78% late Tuesday. Falling bond yields hurt banks because they are a benchmark for the interest rates lenders charge on mortgages and other loans.

Energy companies held up better than the rest of the market as oil prices climbed 3.4%. ConocoPhillips rose 3.8%.

Benchmark crude oil rose $1.90 to settle at $57.11 a barrel. Brent crude oil, the international standard, gained $1.49 to close at $62.40 a barrel.

Utilities, real estate companies and makers of household goods also rose as traders favored less-risky and higher-dividend paying stocks.

Investors also had their eye on the latest batch of quarterly results from big retailers.

Target surged 14.1% after handily beating Wall Street’s third-quarter earnings estimates. The retailer also raised its profit forecast for the year.

Lowe’s rose 3.9% after raising its profit forecast for the year following a solid third quarter. The home improvement retailer has been working to improve profit and sales to better compete with rival Home Depot, which on Tuesday cut its profit forecast after reporting disappointing earnings. The stock dropped 2.2%.

Urban Outfitters plunged 15.2% after the clothing and accessories retailer fell short of Wall Street’s third-quarter profit and sales forecasts.

In other commodities trading, wholesale gasoline rose 6 cents to $1.66 per gallon. Heating oil climbed 3 cents to $1.89 per gallon. Natural gas rose 5 cents to $2.56 per 1,000 cubic feet.

Gold was unchanged at $1,473.30 per ounce, silver was unchanged at $17.10 per ounce and copper was unchanged at $2.65 per pound.

The dollar rose to 108.64 Japanese yen from 108.53 yen on Tuesday. The euro weakened to $1.1070 from $1.1078.

 

[bigdog]

SEA OF RED AGAIN

Stocks closed modestly lower on Wall Street Thursday after a mostly listless day of trading handed the market its third straight drop.

Losses in technology stocks, companies that rely on consumer spending and other sectors outweighed gains elsewhere in the market.

Energy sector stocks were the biggest winners, benefiting from another pickup in crude oil prices. Health care and communication services companies also rose.

Investors have turned cautious this week amid concerns that the U.S. and China will fail to make a trade deal before the year is over.

The world’s largest economies have been negotiating a resolution to their trade war ahead of new tariffs set to hit key consumer goods on Dec. 15. Investors have been hoping for a deal before that happens, as the tariffs would increase prices on smartphones, laptops and many common household goods.

The S&P 500 index dropped 4.92 points, or 0.2%, to 3,103.54. The Dow Jones Industrial Average fell 54.80 points, or 0.2%, to 27,766.29.

The Nasdaq slid 20.52 points, or 0.2%, to 8,506.21. The Russell 2000 index of smaller company stocks lost 7.65 points, or 0.5%, to 1,583.96.

The S&P/ASX 200 index looks set to end its poor run and rebound on Friday. According to the latest SPI futures, the S&P/ASX 200 index is expected to rise 38 points or 0.6% at the open. This is despite it being a subdued night of trade on Wall Street

https://apnews.com/a8cbcc8a69d54361a6486b81fdc4d93d

Stocks close with modest losses amid US-China trade anxiety
By ALEX VEIGA and DAMIAN J. TROISE

Stocks closed modestly lower on Wall Street Thursday after a mostly listless day of trading handed the market its third straight drop.

Losses in technology stocks, companies that rely on consumer spending and other sectors outweighed gains elsewhere in the market.

Energy sector stocks were the biggest winners, benefiting from another pickup in crude oil prices. Health care and communication services companies also rose.

Investors have turned cautious this week amid concerns that the U.S. and China will fail to make a trade deal before the year is over.

The world’s largest economies have been negotiating a resolution to their trade war ahead of new tariffs set to hit key consumer goods on Dec. 15. Investors have been hoping for a deal before that happens, as the tariffs would increase prices on smartphones, laptops and many common household goods.

“That Dec. 15 deadline on tariffs still weighs on the market,” said Quincy Krosby, chief market strategist at Prudential Financial. “The market needs a sense that there won’t be an escalation in the trade war.”

The S&P 500 index dropped 4.92 points, or 0.2%, to 3,103.54. The Dow Jones Industrial Average fell 54.80 points, or 0.2%, to 27,766.29.

The Nasdaq slid 20.52 points, or 0.2%, to 8,506.21. The Russell 2000 index of smaller company stocks lost 7.65 points, or 0.5%, to 1,583.96.

Major stock indexes in Europe also finished lower.

The latest round of selling extended the losses for U.S. stocks this week. The benchmark S&P 500 index is on track to snap a six-week winning streak.

Optimism that Washington and Beijing were nearing a “phase one” trade deal helped pave the way for gains in the market in recent weeks, including a string of all-time highs for the major stock indexes. Stocks have receded from those highs the past few days as investors have grown more doubtful about a trade resolution.

The doubts have persisted even after an attempt by China’s Commerce Ministry to bat away rumors that the talks were in trouble. A ministry spokesman said Beijing was committed to continuing discussions on core concerns. The Wall Street Journal also reported that China’s chief negotiator has called for more face-to-face negotiations.

Stocks are likely to remain choppy and risky as long as the trade war and threat of new tariffs looms over Wall Street, said Barry Bannister, head of institutional equity strategy at Stifel.

“We don’t want to see tariffs on consumer goods that get passed on directly to retail purchasers because they’re the last leg on which the economy is standing right now,” Bannister said.

Bannister warned that the market could be in for a significant decline before the end of the year if the U.S. and China can’t make progress. He also said the risk of a larger recession has not disappeared.

The resurgent trade worries have cut into some of the market’s recent gains this week, though the major stock indexes remain near their all-time highs.

“Markets need to pause, they need to consolidate,” Krosby said. “And by just being flat, by pulling back a little bit, that’s actually ultimately healthy for the market.”

Technology stocks took some of the heaviest losses Thursday. Many chipmakers and companies that make hardware rely on China for sales and supply chains. Advanced Micro Devices slid 3.6% and Lam Research fell 3.7%.

Consumer product makers also fell broadly. Kraft Heinz dropped 2.7%.

Exxon Mobil rose 2.4%, part of a broad rally in energy stocks as the price of U.S. crude oil climbed 2.8%. Benchmark crude oil rose $1.57 to settle at $58.58 a barrel. Brent crude oil, the international standard, gained $1.57 to close at $63.97 a barrel.

Bond prices fell. The yield on the 10-year Treasury rose to 1.78% from 1.74% late Wednesday. The rise in bond yields, which drive up the interest rates banks charge for mortgages and other loans, helped boost financial sector stocks. Bank of America added 0.5%.

Traders welcomed a batch of deal-related news.

Tiffany jumped 2.6% following a report that LVMH would raise its bid for the company. TD Ameritrade soared 16.9% after a report that Charles Schwab was in talks to acquire it.

PayPal slipped 1.5% after saying it would buy Honey Science, which helps people find coupons and discounts while they shop online.

Retailers continued to report a mixed batch of earnings. Macy’s fell 2.3% after cutting its profit and sales forecast. Investors rewarded Victoria’s Secret owner L Brands with a 10.1% gain after the company met Wall Street’s profit expectations.

Several other well-known retailers will report earnings later Thursday, including Nordstrom and Gap.

In other commodities trading, wholesale gasoline rose 4 cents to $1.70 per gallon, heating oil climbed 5 cents to $1.94 per gallon and natural gas rose 1 cent to $2.57 per 1,000 cubic feet.

Gold fell $10.20 to $1,463.10 per ounce, silver fell 5 cents to $17.05 per ounce and copper fell 3 cents to $2.62 per pound.

The dollar rose to 108.66 Japanese yen from 108.64 yen on Wednesday. The euro weakened to $1.1059 from $1.1070.

 

[bigdog]

U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.

Banks, health care stocks and companies that rely on consumer spending powered much of the rebound, outweighing losses in technology, real estate and other sectors. Oil prices fell.

Markets around the world churned this week on uncertainty about whether the U.S. and China can soon halt their trade dispute, or at least stop it from escalating. New U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Tariffs already put in place have hurt manufacturing around the world, and businesses have held back on spending given all the uncertainty about where the rules of global trade will end up.

President Donald Trump said a deal between the world’s largest economies is “potentially very close” after Chinese President Xi Jinping said Beijing is working to “try not to have a trade war,” but will nevertheless fight back if necessary.

The S&P 500 rose 6.75 points, or 0.2%, to 3,110.29. It had earlier been up 0.3% and then down 0.1%.

The Dow Jones Industrial Average gained 109.33 points, or 0.4%, to 27,875.62. The Nasdaq composite added 13.67 points, or 0.2%, to 8,519.88.

Chart DOW vs AORD

https://www.usnews.com/news/busines...-mostly-higher-despite-us-china-trade-anxiety

S&P 500 Snaps 6-Week String of Gains Even as Stocks Rise
U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.
By Associated Press, Wire Service Content Nov. 22, 2019, at 5:17 p.m.

By ALEX VEIGA and STAN CHOE, AP Business Writers

U.S. stocks shook off a midday stumble to finish slightly higher Friday, though the modest rebound was not enough to keep the S&P 500 from breaking its longest stretch of weekly gains in two years.

Banks, health care stocks and companies that rely on consumer spending powered much of the rebound, outweighing losses in technology, real estate and other sectors. Oil prices fell.

Markets around the world churned this week on uncertainty about whether the U.S. and China can soon halt their trade dispute, or at least stop it from escalating. New U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Tariffs already put in place have hurt manufacturing around the world, and businesses have held back on spending given all the uncertainty about where the rules of global trade will end up.

President Donald Trump said a deal between the world’s largest economies is “potentially very close” after Chinese President Xi Jinping said Beijing is working to “try not to have a trade war,” but will nevertheless fight back if necessary.

Even with the run of selling this week, major indexes remained close to the all-time highs they set during steady, six-week upward move. The benchmark S&P 500 ended the week within 0.4% of its record high set on Monday.

“Investors are basically saying the market is overbought and they’ll wait to step back in after we see some sort of resetting of prices,” said Sam Stovall, chief investment strategist at CFRA.

The S&P 500 rose 6.75 points, or 0.2%, to 3,110.29. It had earlier been up 0.3% and then down 0.1%.

The Dow Jones Industrial Average gained 109.33 points, or 0.4%, to 27,875.62. The Nasdaq composite added 13.67 points, or 0.2%, to 8,519.88.

Traders favored smaller company stocks, giving the Russell 2000 index a gain of 4.98 points, or 0.3%, to 1,588.94.

Major stock indexes in Europe also finished broadly higher. Bond prices were little changed. The yield on the 10-year Treasury held steady at 1.77%.

Despite the mostly down week, the major U.S. stock indexes are on track for strong gains this year. The S&P 500 and Nasdaq are up by more than 24%, while the Dow is up nearly 20%.

Hopes that Washington and Beijing can make progress on a trade deal helped spur the market higher since late October, along with surprisingly good corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve.

Stocks receded from those highs this week as investors grew more doubtful about the prospects of a trade deal. Doubts have persisted despite some encouraging remarks from the presidents of both nations.

Trump said “we have a very good chance to make a deal” in an interview with Fox News after reports through the week raised the possibility that a “Phase 1” agreement may not be in place until 2020.

In Beijing, Xi earlier told a visiting U.S. business delegation, “We want to work for a Phase 1 agreement on the basis of mutual respect and equality."

Investors have heard such remarks before throughout the long-running trade war, however.

“There have been too many times that the president has tweeted or he has had some of his underlings mention that a trade deal is imminent only to have nothing happen or to have the threat of postponement,” Stovall said.

Traders sized up another batch of corporate earnings from retailers Friday.

Nordstrom surged 10.6% after the retailer said it made a bigger profit last quarter than Wall Street expected.

It was a bright spot for the retail sector after a long list of mall-based clothing retailers delivered weak third-quarter earnings reports. Macy’s cut its profit and sales forecast for the year as shoppers continue to head online instead of to the store. The department store climbed 5.2% Friday, though it still ended down more than 8% for the week.

Nearly 96% of companies in the S&P 500 have now told investors how much profit they made during the summer, and they’re on pace to report a drop of 2.3% from a year earlier. That’s not as bad as the 4% drop that analysts were earlier expecting.

Tesla skidded 6.1% after some analysts panned the unveiling of its electric pickup truck. It’s aiming at the most profitable part of the North American market, but investors are skeptical about how many traditional pickup drivers the blocky, angular looks of Tesla’s “Cybertruck” will draw.

Crude oil fell 81 cents to settle at $57.77 a barrel. Brent crude oil, the international standard, dropped 58 cents to close at $63.39 a barrel. Wholesale gasoline fell 3 cents to $1.67 per gallon. Heating oil declined 1 cent to $1.93 per gallon. Natural gas rose 10 cents to $2.67 per 1,000 cubic feet.

Gold was unchanged at $1,463.10 per ounce, silver fell 6 cents to $16.99 per ounce and copper rose 3 cents to $2.65 per pound.

The dollar fell to 108.65 Japanese yen from 108.66 yen on Thursday. The euro weakened to $1.1020 from $1.1059.

176

 

[bigdog]

A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.

Technology stocks and smaller companies led the way after China issued new guidelines for the protection of patents and copyrights. Theft of such intellectual property has been a big sticking point in the trade war between the world’s largest economies, and markets saw China’s move as an encouraging sign for negotiations on the first phase of a deal.

Not only did stocks rise worldwide, the price of gold fell as investors saw less need for safety. A measure of fear in the U.S. stock market called the VIX volatility index also touched its lowest level since July.

The S&P 500 rose 23.35 points, or 0.8%, to 3,133.64. The Dow Jones Industrial Average climbed 190.85, or 0.7%, to 28,066.47, and the Nasdaq composite jumped 112.60, or 1.3%, to 8,632.49. All three indexes set records.

The Russell 2000 index of small-cap stocks rose even more, though it is still below its peak set last year. It surged 32.96, or 2.1%, to 1,621.90.

Stocks have been rallying for weeks as worries about a possible U.S. recession have faded. A resilient job market, which helps households continue to spend, and three interest-rate cuts by the Federal Reserve have bolstered confidence.

The S&P/ASX 200 index looks set to push higher again on Tuesday. According to the latest SPI futures, the benchmark index is expected to rise 28 points or 0.4% at the open.

https://www.usnews.com/news/busines...es-advance-amid-hopes-for-us-china-trade-deal

US Stocks Jump to Records as Tech, Small Companies Lead Way
A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.
By Associated Press, Wire Service Content Nov. 25, 2019, at 4:31 p.m.

By STAN CHOE and DAMIAN J. TROISE, AP Business Writers

NEW YORK (AP) — A flurry of buyout deals and rising optimism about U.S.-China trade talks sent stocks back to record heights Monday, the latest bit of fuel for a market that’s been climbing since early last month.

Technology stocks and smaller companies led the way after China issued new guidelines for the protection of patents and copyrights. Theft of such intellectual property has been a big sticking point in the trade war between the world’s largest economies, and markets saw China’s move as an encouraging sign for negotiations on the first phase of a deal.

Not only did stocks rise worldwide, the price of gold fell as investors saw less need for safety. A measure of fear in the U.S. stock market called the VIX volatility index also touched its lowest level since July.

The S&P 500 rose 23.35 points, or 0.8%, to 3,133.64. The Dow Jones Industrial Average climbed 190.85, or 0.7%, to 28,066.47, and the Nasdaq composite jumped 112.60, or 1.3%, to 8,632.49. All three indexes set records.

The Russell 2000 index of small-cap stocks rose even more, though it is still below its peak set last year. It surged 32.96, or 2.1%, to 1,621.90.

Stocks have been rallying for weeks as worries about a possible U.S. recession have faded. A resilient job market, which helps households continue to spend, and three interest-rate cuts by the Federal Reserve have bolstered confidence.

Optimism has not been as high for other economies around the world, though, where growth remains slow, said David Kelly, chief global strategist at JPMorgan Asset Management.

“People are still nervous about the rest of the world,” he said. “All of this is sort of acting as funnel, directing cash into U.S. equities.”

More clues about the resilience of U.S. consumer spending should arrive soon when retailers report on this week’s kickoff of the holiday shopping season. Economists say it needs to remain healthy given pullbacks in spending by businesses amid all the trade uncertainty.

“It’s a battle between nervous businesses and confident consumers,” Kelly said.

Some companies showed confidence to spend Monday by announcing big buyout deals.

Charles Schwab said it would buy rival TD Ameritrade for about $26 billion, and French luxury group LVMH agreed to pay $16.2 billion for Tiffany.

Tiffany jumped 6.2% for one of the biggest gains in the S&P 500, while Schwab rose 2.3% and TD Ameritrade gained 7.6%.

Technology stocks had the largest gain among the 11 sectors that make up the S&P 500, up 1.4%. Many tech companies have deep ties to China, depending on both suppliers and customers there, and their stocks prices have often swung with sentiment about trade talks. Nvidia jumped 4.9%.

Utilities were the only sector in the S&P 500 to fall. Other stocks known as “defensive” investments, which tend to be in favor when the economy is slowing, also lagged the rest of the market.

The upcoming week will be a short one for investors, with trading closed on Thursday for the Thanksgiving holiday. Otherwise, highlights include reports on consumer confidence, the housing market’s strength and consumer spending.

In overseas markets, the Nikkei 225 in Tokyo rose 0.8%, South Korea’s Kospi gained 1% and the Hang Seng in Hong Kong jumped 1.5%. London’s FTSE 100 climbed 0.9%, France’s CAC 40 gained 0.5% and Germany’s DAX returned 0.6%.

Benchmark crude oil rose 24 cents to settle at $58.01 a barrel. Brent crude oil, the international standard, rose 26 cents to $63.65 a barrel. Wholesale gasoline was unchanged at $1.67 per gallon. Heating oil climbed 1 cent to $1.94 per gallon. Natural gas fell 14 cents to $2.53 per 1,000 cubic feet.

Gold fell $6.50 to $1,456.60 per ounce, silver fell 12 cents to $16.87 per ounce and copper was unchanged at $2.65 per pound.

The yield on the 10-year Treasury fell to 1.75% from 1.77% late Friday.

The dollar rose to 108.97 Japanese yen from 108.65 yen on Friday. The euro weakened to $1.1009 from $1.1020.

 

[bigdog]

More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.

Retailers and other companies that rely on consumer spending helped power the modest rally, which adds to the market’s solid start to the week. Only energy, banks and health care sector stocks ended with losses. Bond prices rose, sending yields lower.

Beijing said Tuesday that negotiators for both sides met earlier in the day and agreed to more talks aimed at reaching a deal. The latest development came a day after China announced new guidelines for the protection of patents and copyrights, which has been a key issue in the dispute.

Investors have grown more hopeful over trade negotiations as the world’s two largest economies continue to keep their rhetoric in check. That’s a clear difference from earlier this year, when a sharp comment from either side would seemingly silence any ongoing talks and worsen relations.

The S&P 500 index rose 6.88 points, or 0.2%, to 3,140.52. The benchmark index is on a three-day winning streak. The Dow Jones Industrial Average gained 55.21 points, or 0.2%, to 28,121.68.

The Nasdaq composite added 15.44 points, or 0.2%, to 8,647.93. The Russell 2000 index of smaller company stocks picked up 2.33 points, or 0.1%, to 1,624.23.

The major stock indexes are on track for strong gains this year. The S&P 500 is up by more than 25%, while the Dow is up by more than 20%. The Nasdaq, meanwhile, is now up by more than 30%.

The S&P/ASX 200 index looks to have run out of steam on Wednesday. According to the latest SPI futures, the S&P/ASX 200 index is expected to fall 13 points or 0.2% at the open.

https://www.usnews.com/news/busines...es-mixed-following-wall-street-tech-led-rally

Major US Stock Indexes Hit Record Highs Amid Trade Optimism
More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.
By Associated Press, Wire Service Content Nov. 26, 2019, at 4:36 p.m.

By ALEX VEIGA, AP Business Writer

More encouraging signs that trade talks between the U.S. and China are on track kept investors in a buying mood Tuesday, nudging the major stock indexes to record highs for the second straight day.

Retailers and other companies that rely on consumer spending helped power the modest rally, which adds to the market’s solid start to the week. Only energy, banks and health care sector stocks ended with losses. Bond prices rose, sending yields lower.

Beijing said Tuesday that negotiators for both sides met earlier in the day and agreed to more talks aimed at reaching a deal. The latest development came a day after China announced new guidelines for the protection of patents and copyrights, which has been a key issue in the dispute.

Investors have grown more hopeful over trade negotiations as the world’s two largest economies continue to keep their rhetoric in check. That’s a clear difference from earlier this year, when a sharp comment from either side would seemingly silence any ongoing talks and worsen relations.

“Generally, you can kind of look at the commentary coming out and I’d say it leans in the direction of progress being made, albeit at a fairly slow pace,” said Jason Pride, chief investment officer of private wealth at Glenmede Trust.

The S&P 500 index rose 6.88 points, or 0.2%, to 3,140.52. The benchmark index is on a three-day winning streak. The Dow Jones Industrial Average gained 55.21 points, or 0.2%, to 28,121.68.

The Nasdaq composite added 15.44 points, or 0.2%, to 8,647.93. The Russell 2000 index of smaller company stocks picked up 2.33 points, or 0.1%, to 1,624.23.

The major stock indexes are on track for strong gains this year. The S&P 500 is up by more than 25%, while the Dow is up by more than 20%. The Nasdaq, meanwhile, is now up by more than 30%.

Surprisingly good corporate earnings, solid economic data, interest-rate cuts by the Federal Reserve and more optimism on the part of investors about the prospects for a U.S.-China trade deal have helped spur the market higher since late October.

The latest signals indicating that both sides are continuing to pursue a deal have been particularly encouraging, as new U.S. tariffs are set to hit Dec. 15 on many Chinese-made items on holiday shopping checklists, such as smartphones and laptops.

Investors hoping that Washington and Beijing can agree on terms of a deal that halts their trade dispute, or at least stops it from escalating.

Traders also got a new read on the U.S. consumer Tuesday. The Conference Board said its closely watched consumer confidence index fell slightly for the fourth consecutive month to 125.5. Still, the reading remains elevated ahead of the holiday shopping season.

Investors will have several other economic reports to assess on Wednesday, including home sales data, a key measure of inflation and the government’s latest quarterly estimate of economic growth.

Several retailers closed out the latest round of corporate earnings with varied results Tuesday.

Consumer electronics seller Best Buy jumped 9.9% after handily beating Wall Street’s profit expectations for the quarter while giving a surprisingly good profit forecast.

Dick’s Sporting Goods surged 18.6% after blowing away analysts’ profit forecasts for the third quarter, while Burlington Stores vaulted 8.5% after the discount retailer of coats, jackets and other clothing reported quarterly results that topped analysts’ forecasts. The company also raised its earnings guidance.

Other retailers didn’t have a good day.

Discount retailer Dollar Tree plunged 15.2% after its profit fell short of Wall Street expectations. Clothing chain operator Abercrombie & Fitch slid 2.6% after the company lowered the top end of its revenue guidance.

Hormel Foods led a broad gain in consumer goods makers. The stock rose 3.6%.

Real estate sector stocks also notched gains. American Tower added 2.4%.

Bond prices rose. The yield on the 10-year Treasury fell to 1.74% from 1.76% late Monday.

The lower yields weighed on banks, which use them to set interest rates on mortgages and other loans. Bank of America, Citigroup and Wells Fargo all fell.

Benchmark crude oil rose 40 cents to settle at $58.41 a barrel. Brent crude oil, the international standard, gained 62 cents to close at $64.27 a barrel. Wholesale gasoline rose 3 cents to $1.70 per gallon. Heating oil climbed 2 cents to $1.96 per gallon. Natural gas fell 7 cents to $2.46 per 1,000 cubic feet.

Gold rose $3.20 to $1,459.80 per ounce, silver rose 16 cents to $17.03 per ounce and copper rose 1 cent to $2.66 per pound.

The dollar rose to 109.04 Japanese yen from 108.97 yen on Monday. The euro strengthened to $1.1022 from $1.1009.

Major stock indexes in Europe finished mostly higher.

 

[bigdog]

U.S. markets will be closed Thursday for Thanksgiving. They'll be open for a half day on Friday.

Investors capped a day of light trading on Wall Street ahead of the Thanksgiving holiday by serving up another set of stock market record highs.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite closed at all-time highs for the third straight day Wednesday. And the Russell 2000 index of smaller companies hit its highest level in a year.

A batch of positive U.S. economic data helped spur the broad rally, extending the market’s recent string of gains. Stock indexes have been breaking records in recent weeks as the U.S. and China have signaled that negotiations aimed at resolving their costly trade war are going well.

The latest economic data helped keep investors in a buying mood. The Commerce Department said Wednesday that the economy grew at a 2.1% rate last quarter, outpacing forecasts. The government also reported a surprisingly good increase in orders to U.S. factories and a pickup in consumer spending.

The S&P 500 index rose 13.11 points, or 0.4%, to 3,153.63. The benchmark index is on a four-day winning streak.

The Dow gained 42.32 points, or 0.2%, to 28,164. The Nasdaq climbed 57.24 points, or 0.7%, to 8,705.18. The Russell 2000 added 9.87 points, or 0.6%, to 1,634.10.

The S&P/ASX 200 index could make it another day of gains on Thursday. According to the latest SPI futures, the ASX 200 index is expected to rise 19 points or 0.3% at the open.

https://www.newser.com/article/d09d...ve-us-stock-indexes-to-more-record-highs.html

Modest gains drive US stock indexes to more record highs
By ALEX VEIGA, Associated Press

Investors capped a day of light trading on Wall Street ahead of the Thanksgiving holiday by serving up another set of stock market record highs.

The S&P 500, Dow Jones Industrial Average and Nasdaq composite closed at all-time highs for the third straight day Wednesday. And the Russell 2000 index of smaller companies hit its highest level in a year.

A batch of positive U.S. economic data helped spur the broad rally, extending the market’s recent string of gains. Stock indexes have been breaking records in recent weeks as the U.S. and China have signaled that negotiations aimed at resolving their costly trade war are going well.

The latest economic data helped keep investors in a buying mood. The Commerce Department said Wednesday that the economy grew at a 2.1% rate last quarter, outpacing forecasts. The government also reported a surprisingly good increase in orders to U.S. factories and a pickup in consumer spending.

"This is an environment where we continue an economic expansion, albeit at a somewhat slower rate," said Bill Northey, senior investment director at U.S. Bank Wealth Management. "There is a very positive sentiment around U.S. equity markets."

The S&P 500 index rose 13.11 points, or 0.4%, to 3,153.63. The benchmark index is on a four-day winning streak.

The Dow gained 42.32 points, or 0.2%, to 28,164. The Nasdaq climbed 57.24 points, or 0.7%, to 8,705.18. The Russell 2000 added 9.87 points, or 0.6%, to 1,634.10.

Stocks have regained their footing after stumbling last week. The S&P 500 index is on track for a 1.4% weekly gain as it continues setting records. The Nasdaq is up 2.2% for the week, which would mark its strongest gain since the end of summer.

The stock market has been notching gains steadily since October, shaking off recession fears that helped knock stocks into a skid in August.

Surprisingly good corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve have helped set the stage for the market’s fall rally. Investors have also grown more optimistic about the prospects for a U.S.-China trade deal.

Traders continue to wait for developments in the latest round of negotiations between the world’s largest economies. The key question is whether both sides will be able to reach a deal before Dec. 15, when new tariffs are set to kick in on many Chinese-made items, including smartphones and laptops.

Pressure is building on both sides to complete a limited "phase one" deal before the deadline, though the Trump administration could end up postponing it, as it did in October, to allow more time for talks.

Investors hope that negotiations can progress enough to at least help suspend the scheduled escalation.

"There is a ticking clock," Northey said, referring to the tariffs scheduled to go into effect next month. "But at the margin right now we do seem to have progress, rather than slipping backward with respect to the 'phase one' trade deal."

Technology stocks and companies that rely on consumer spending notched some of the biggest gains Wednesday. AutoDesk climbed 5.5% and Under Armour gained 6.2%.

Health care and communication services stocks also helped lift the market. Mylan rose 2.6% and Comcast added 2%.

Banks also made gains. The yield on the 10-year Treasury rose to 1.76% from 1.74% late Tuesday. Higher bond yields allow banks to charge more lucrative interest on mortgages and other loans. Wells Fargo rose 1%.

Industrial companies lagged the market, weighed down by Boeing and Deere & Co.

Deere slid 4.3% after giving investors a weak profit forecast because farmers are spending less money on new equipment. The maker of tractors, backhoes and other agricultural machinery said the trade war and a difficult growing season has kept farmers cautious about making major investments.

Boeing fell 1.5% after federal safety regulators indicated that they will keep full control over approvals of each new 737 Max built. The Federal Aviation Administration’s decision affects more than 300 finished Max jets currently sitting in storage.

Benchmark crude oil fell 30 cents to settle at $58.11 a barrel. Brent crude oil, the international standard, dropped 21 cents to close at $64.06 a barrel. Wholesale gasoline fell 2 cents to $1.68 per gallon. Heating oil declined 1 cent to $1.95 per gallon. Natural gas fell 3 cents to $2.50 per 1,000 cubic feet.

Gold fell $6.90 to $1,453.40 per ounce, silver fell 14 cents to $16.91 per ounce and copper fell 1 cent to $2.67 per pound.

The dollar rose to 109.59 Japanese yen from 109.04 yen on Tuesday. The euro weakened to $1.1004 from $1.1022.

Major stock indexes in Europe finished mixed.

U.S. markets will be closed Thursday for Thanksgiving. They'll be open for a half day on Friday.

 

[bigdog]

Stock markets fell Thursday after President Donald Trump signed a bill supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China talk about ending their trade war. Trading volumes were muted, however, with the U.S. closed for Thanksgiving.

China reacted with indignation to the legislation, which Congress passed with overwhelming support. Beijing summoned U.S. Ambassador Terry Branstad for a dressing down and issued multiple statements threatening unspecified countermeasures.

In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index lost 0.2% to 26,893.73. The Shanghai Composite index lost 0.5% to 2,889.69.

In Europe, Britain’s FTSE 100 declined 0.4% to 7,402 and the CAC 40 in Paris gave up 0.3% to 5,908. Germany’s DAX declined 0.4% to 13,235.

The Australian share market is expected to hit its highest level, beating yesterday's record high, despite a slightly pessimistic tone across foreign markets overnight

U.S. markets were closed Thursday for Thanksgiving

https://www.usnews.com/news/busines...etreat-after-trump-approval-of-hong-kong-bill

World Shares Retreat After Trump Approves Hong Kong Bill
World shares are down after U.S. President Donald Trump signed a bill expressing support for human rights in Hong Kong.
By Associated Press, Wire Service Content Nov. 28, 2019, at 8:59 a.m.

By ELAINE KURTENBACH, AP Business Writer

BEIJING (AP) — Stock markets fell Thursday after President Donald Trump signed a bill supporting human rights in Hong Kong, potentially increasing tensions as the U.S. and China talk about ending their trade war. Trading volumes were muted, however, with the U.S. closed for Thanksgiving.

China reacted with indignation to the legislation, which Congress passed with overwhelming support. Beijing summoned U.S. Ambassador Terry Branstad for a dressing down and issued multiple statements threatening unspecified countermeasures.

In Hong Kong, where sometimes violent protests have dragged on for nearly six months, the Hang Seng index lost 0.2% to 26,893.73. The Shanghai Composite index lost 0.5% to 2,889.69.

In Europe, Britain’s FTSE 100 declined 0.4% to 7,402 and the CAC 40 in Paris gave up 0.3% to 5,908. Germany’s DAX declined 0.4% to 13,235.

U.S. futures were modestly lower, with the contracts for both the Dow Jones Industrial Average and the S&P 500 losing 0.3% and 0.2%. U.S. markets will remain closed Thursday for Thanksgiving and open for a half day on Friday.

Trump’s move did not come as a surprise, given the pressure from both Democrat and Republican lawmakers to support the legislation. But it’s unclear if the human rights bill, which Beijing views as “meddling” in China’s internal affairs, might derail recent progress in trade talks with Washington.

“We urge the U.S. to not continue going down the wrong path, or China will take countermeasures, and the U.S. must bear all consequences,” the Chinese Foreign Ministry said in a statement.

Markets appeared to be taking the developments in stride, said Stephen Innes of AxiTrader, “on the assumption that the U.S. legislation is unlikely to torpedo phase one. But of course, it does provide a stark reminder that on one level or another, U.S.-China frictions are always going to be a thorn in the markets’ side.”

The key question in China-U.S. trade negotiations is whether they will be able to reach a deal before Dec. 15, when new tariffs are set to kick in on many Chinese-made items, including smartphones and laptops.

Pressure is building on both sides to complete a limited "phase one" deal before the deadline, though the Trump administration could end up postponing it, as it did in October, to allow more time for talks.

Japan’s Nikkei 225 index lost 0.1% to 23,409.14 while the Kospi in Seoul shed 0.4% to 2,118.60. Australia’s S&P ASX 200 gained 0.2% to 6,864.00. India’s Sensex added 0.1% to 41,059.51.

On Wednesday, investors capped a day of light trading on Wall Street by serving up another set of stock market record highs. The S&P 500, Dow and Nasdaq closed at all-time highs for the third straight day.

Benchmark crude oil lost 22 cents to $57.89 per barrel in electronic trading on the New York Mercantile Exchange. It fell 30 cents on Wednesday. Brent crude oil, the international standard, gave up 12 cents to $62.89 per barrel.

The dollar slipped to 109.50 Japanese yen from 109.54 yen on Wednesday. The euro was steady at $1.1007.

 

[bigdog]

Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.

Technology, health care and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as traders watched for signs that Black Friday got off to a strong start. Energy stocks took the heaviest losses as crude oil prices fell sharply. Bond yields rose.

Even with the pullback, the S&P 500 notched its seventh weekly gain in eight weeks. The benchmark index also closed out November with its strongest monthly gain since June.

"You had three solid days, plus the S&P was at an all-time high as of the close on Wednesday,” said Tom Martin, senior portfolio manager with Globalt Investments. “Really, from early October until now, it's been almost like a ruler straight up."

The S&P 500 index dropped 12.65 points, or 0.4%, to 3,140.98. The index hit all-time highs the first three days of the week.

The Dow Jones Industrial Average fell 112.59 points, or 0.4%, to 28,051.41. The Nasdaq slid 39.70 points, or 0.5%, to 8,665.47. The Russell 2000 index of smaller company stocks gave up 9.60 points, or 0.6%, or 1,624.50. Trading volume was lighter than usual with the markets open for only a half day.

Chart DOW vs AORD

https://www.usnews.com/news/busines...es-slide-on-weak-japan-data-us-markets-closed

US Stocks Close Out Half-Day Session With Broad Losses
Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.
By Associated Press, Wire Service Content Nov. 29, 2019, at 3:19 p.m.

By ALEX VEIGA, AP Business Writer

Stocks fell broadly on Wall Street Friday following a shortened trading session a day after the Thanksgiving holiday that left the market slightly below its record highs.

Technology, health care and industrial stocks accounted for a big slice of the selling. Several big retailers also dragged the market lower as traders watched for signs that Black Friday got off to a strong start. Energy stocks took the heaviest losses as crude oil prices fell sharply. Bond yields rose.

Even with the pullback, the S&P 500 notched its seventh weekly gain in eight weeks. The benchmark index also closed out November with its strongest monthly gain since June.

"You had three solid days, plus the S&P was at an all-time high as of the close on Wednesday,” said Tom Martin, senior portfolio manager with Globalt Investments. “Really, from early October until now, it's been almost like a ruler straight up."

The S&P 500 index dropped 12.65 points, or 0.4%, to 3,140.98. The index hit all-time highs the first three days of the week.

The Dow Jones Industrial Average fell 112.59 points, or 0.4%, to 28,051.41. The Nasdaq slid 39.70 points, or 0.5%, to 8,665.47. The Russell 2000 index of smaller company stocks gave up 9.60 points, or 0.6%, or 1,624.50. Trading volume was lighter than usual with the markets open for only a half day.

Bond prices fell. The yield on the 10-year Treasury rose to 1.77% from 1.76% late Wednesday.

The three major stock indexes have notched multiple record highs in recent weeks. That helped drive their gains in November. The S&P 500 ended the month with a 3.4% gain, while the Dow rose 3.7%. The Nasdaq, which is weighted heavily with technology stocks, gained 4.5%.

The stock market has been grinding mostly higher after shaking off recession fears that helped knock stocks into a skid this summer.

Better-than-expected corporate earnings, solid economic data and interest-rate cuts by the Federal Reserve helped fuel the market's fall rally. Investors have also grown more optimistic about the prospects for a trade deal between the U.S. and China.

New U.S. tariffs are set to kick in on many Chinese-made products as of Dec. 15, but negotiators have said they might soon have a preliminary deal that could avert that.

Chipmakers were among the biggest decliners in the technology sector Friday. Lam Research and Qualcomm each fell 1.5%.

Drugmakers helped pull the health stocks lower. Bristol-Myers Squibb dropped 1.1%.

Energy stocks were the biggest losers as the price of U.S. crude oil slid 5.1%. Devon Energy dropped 2.8% and Helmerich & Payne fell 2.3%.

Benchmark crude oil fell $2.94 to settle at $55.17 a barrel. Brent crude oil, the international standard, dropped $1.44 to close at $62.43 a barrel.

Shares in several big retailers declined as Black Friday, traditionally the kickoff for the holiday shopping season, got underway. Macy’s fell 1%, Gap dropped 1.8%, Kohl’s slid 2.7% and Nordstrom slipped 0.4%.

Some bucked the downward trend. J.C. Penney rose 1.8%, Walmart added 0.3% and TJX, parent of T.J. Maxx, Marshalls and other stores, gained 0.3%.

This year retailers have less time to woo consumers because Thanksgiving fell on the fourth Thursday in November, making the holiday shopping season six days shorter.

The National Retail Federation baked the shorter season into its forecast, which calls for holiday sales to rise between 3.8% and 4.2%, an increase from the disappointing 2.1% growth seen in the November and December 2018 period.

"Black Friday really starts on Nov. 1 and goes all the way until the end of December, so you have this two-month period that you really have to look at before you really see how well companies are doing," Martin said.

Traders bid up shares in Tech Data after Apollo Global Management raised its offer to buy the technology company to $145 per share in cash from $130. The stock surged 12.3%.

U.S. Steel fell 5.8% following reports that a water pipe burst at the company’s steel mill in Gary, Indiana.

In other commodities trading, wholesale gasoline fell 8 cents to $1.60 per gallon. Heating oil declined 7 cents to $1.88 per gallon. Natural gas dropped 22 cents to $2.28 per 1,000 cubic feet.

Gold rose $11.90 to $1,472.70 per ounce, silver gained 5 cents to $17.11 per ounce and copper fell 3 cents to $2.66 per pound.

The dollar fell to 109.48 Japanese yen from 109.53 yen on Thursday. The euro strengthened to $1.1017 from $1.1009.

Major stock indexes in Europe ended broadly lower.

504