|Day's range||25,350.02 - 25,608.71|
|52-week range||23,242.75 - 26,951.81|
At the end of a tumultuous week, few investors took note that Friday was the 31st anniversary of Black Monday—Oct, 19, 1987. The Dow popped up 548 points on Tuesday, but that amounted to less than a tenth of the percentage change of Black Monday. Black Monday’s significance, more than being the single worst day for stocks in U.S. history, is that it established what became known as “the Greenspan put.” To counter the feared economic impact of a stock-market meltdown, the Fed under then-Chairman Alan Greenspan cut interest rates, stoking a huge bond rally, which led to a recovery in equities.
The Dow Jones Industrial Average gained 104.35 points, or 0.4%, to 25444.34 last week, while the S&P 500 squeaked out a 0.65 point rise to 2767.78, and even the Nasdaq Composite finished off just 0.6%, to 7449.03.
U.S. stocks gave up an early rally Friday and struggled to another mixed finish as investors continued sell former favorites like retailers. Household goods makers rose again as a week of choppy trading ...
It’s hard to be downbeat on a Friday, and stocks are reflecting an improved mood on Wall Street. Chinese markets rebounded overnight and earnings reports from PayPal (PYPL) and (PG) (PG) created some confidence. China’s third-quarter gross domestic product was the weakest since the financial crisis, which might have sunk stocks again Friday, had not government agencies come out in a chorus of confidence about the economy.
On October 11–18, US equity indexes had the following correlations with US crude oil December futures: the S&P Mid-Cap 400 (IVOO): 54.4% the Dow Jones Industrial Average (DIA): 53.6% the S&P 500 (SPY): 43.3%
In the third quarter, China’s GDP grew 6.5% on a YoY (year-over year) basis—the weakest pace since 2009. A Reuters poll indicated that the growth rate would cool at 6.6%. The ongoing trade war with the US will likely weaken China’s growth rate.
Is the Sell-Off in US Steel Stocks Overdone? Steel prices are the key driver of steel companies’ earnings. Earlier this year, spot HRC (hot rolled coil) prices hit a decade high, with prices topping $900 per ton.
BEIJING (AP) — Global stocks were mixed Friday after data showed Chinese economic growth slowed more than expected but officials moved to shore up the country's markets.
STOCKSTOWATCHTODAY BLOG 6:35 a.m. After getting clobbered on Thursday, stocks are trying to make a comeback. It’s a tepid one at best. S&P 500 futures have advanced 0.2%, while the Dow Jones Industrial Average” futures have risen 62 points, or 0.
On a day stocks fell sharply, Philip Morris bucked the trend thanks to surprisingly high earnings, and Textron stumbled in the third quarter.
NEW YORK (AP) — Dow Jones Industrial Average falls more than 300 points, its sixth drop in the last eight days.
Fed Vice Chair Randal Quarles said Thursday that he has an "optimistic" outlook on the economy, adding that his preferred rate hike path is "more gradual" than others on the Fed.
On October 17, US crude oil November futures fell 3% and closed at $69.75 per barrel—below $70 for the first time since September 18. Bearish inventory data might be behind the downside in oil prices.
US steel stocks, which have been subdued for the last few months, have seen fresh selling pressure this month. Earlier this week, Credit Suisse downgraded US steel stocks from “overweight” to “equal weight.” Several other brokerages have also taken a bearish view of US steel stocks.
BEIJING (AP) — Asian stock markets sank Friday after Wall Street declined on losses for tech and industrial stocks and Chinese economic growth slowed.
The market is bracing for volatility on election night, a change from recent midterm elections which traders expected to see come and go without a big swing.
Stock markets mostly dipped on Thursday on the news that some policymakers at Federal Reserve think interest rates should continue to be raised until they are slightly restrictive. The future contracts for the Dow Jones industrial average and for the S&P 500 were both down 0.4 percent. FED TALK: The Federal Reserve's minutes from its meeting in late September, when it raised interest rates for the third time this year showed some participants thought the Fed's key interest rate would eventually need to "become modestly restrictive" to ensure inflation doesn't climb too high.
Bottom Fishing After starting Wednesday lower, the S&P 500 finished just about even, despite a brief scare following the release of the minutes from September’s Federal Reserve meeting. The same couldn’t be said about the Dow, which dropped more than 90 points thanks to IBM’s post-earnings tumble. The numbers have been good: 90% of them have topped earnings forecasts and 70% have exceeded sales expectations.
BANGKOK (AP) — Shares fell Thursday in Asia after a retreat on Wall Street driven by sell-offs of technology shares, homebuilders and retailers. A report of weaker Japanese exports in September underscored uncertainties over the outlook for trade.