|Day's range||25,350.02 - 25,608.71|
|52-week range||23,201.78 - 26,951.81|
The historic tax cuts passed in late 2017 are set to provide long-term tailwinds for public companies and their shareholders.
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.