|Day's range||25,784.90 - 25,888.82|
|52-week range||21,673.58 - 26,616.71|
Asian shares were mixed Wednesday, as some markets were cheered by bullish sentiments on Wall Street despite concerns about U.S. trade disputes with China. South Korea's Kospi was up 0.4 percent at 2,277.85. TRADE TENSIONS: Stocks have been buffeted by concerns about mounting trade tensions in recent months between the U.S. and China, set off by President Donald Trump's tariff policies.
U.S. stocks closed higher Tuesday, briefly sending the S&P 500 index to an all-time high. The benchmark index eked out a slight gain, finishing a little below the high mark it set in January. The gain, which carried the Russell 2000 index of small-company stocks to an all-time high, came as the market's bull run was set to become the longest on record on Wednesday.
In the week ending on August 10, US crude oil inventories were 1% above their five-year average. Oil inventories were higher than their five-year average for the first time since March 9. The difference is called the “inventories spread.” In the weeks before August 10, US crude oil inventories were inching towards their five-year average.
On August 20, US crude oil October futures rose 0.3% and settled at $65.42 per barrel. Short covering might have supported the oil prices. On the same day, the Energy Select Sector SPDR ETF (XLE) rose 0.7%. The small rise in energy stocks might have contributed to the 0.2% and 0.3% rise in the S&P 500 Index (SPY) and the Dow Jones Industrial Average Index (DIA), respectively, on August 20. Read Oil Could Impact US Equity Indexes’ Upside to learn more.
The Dow Jones Industrial Average and the Nasdaq Composite are on the climb too, as if all major benchmark indexes are holding hands to rally into a milestone some investors are celebrating. The Dow Jones Industrial Average has risen more than 100 points, or 0.3%, to 25,835.65. The Nasdaq Composite has gained 0.6% to 7870.56, proving technology stocks still have mettle. The expectation, following Monday's modest gains, seems to be that this bull will break a record on Aug. 22—the day some say this one will lap the 1990-2000 bull market and secure the title for longest secular bull run in history.
Looking Up. A weaker dollar was helping to boost stocks Tuesday morning, pushing the S&P 500 ever nearer to its all-time high. Medtronic, and Kohl’s reported before the open, while Myriad Genetics and Urban Outfitters are due after the close. In an interview, President Donald Trump criticized the U.S. Federal Reserve for raising interest rates, and that has added uncertainty to what had been all but certain.
Want to know why the Dow Jones Industrial Average is doing what it's doing? 7:37 a.m. You wouldn't think that an attack on the U.S. Federal Reserve by President Donald Trump would help boost the markets this morning, but that seems to be the case. S&P 500 futures have advanced 0.2%, while Dow Jones Industrial Average futures have risen 50 points, or 0.2%.
Earlier this year, President Trump imposed 10% tariffs on aluminum imports and 25% tariffs on steel imports. The tariffs imposed under Section 232 of the Trade Expansion Act of 1962 were intended to boost domestic steel and aluminum production. To be sure, US steel and aluminum producers like Alcoa (AA) have cited Chinese overcapacity coupled with the allegedly subsidized Chinese exports for a long time as their biggest woe.
TOKYO (AP) — Global shares were mostly higher in subdued trading Tuesday, tracking gains in Asia despite doubts over the prospects for resolving the trade dispute between the U.S. and China.
Based on last week’s close and Monday’s price action, the direction of the September E-mini Dow Jones Industrial Average futures contract this week will be determined by trader reaction to the downtrending Gann angle at 25712.
TOKYO (AP) — Asian shares were mostly higher Tuesday amid doubts about the prospects for resolving the trade dispute between the U.S. and China.
As stocks started the week with a move higher, PepsiCo announced plans to buy SodaStream International and Estee Lauder reported nicely growing sales.
U.S. stocks closed broadly higher Monday as retailers and other consumer-focused companies posted solid gains. Industrial stocks also rose, led by airlines. Energy companies rose along with the price of U.S. crude oil. Technology stocks lagged the market.
On August 10–17, US equity indexes reported gains. Last week, the Dow Jones Industrial Average (DIA), the S&P Mid-Cap 400 ETF (IVOO), and the S&P 500 Index (SPY) rose 1.4%, 0.7%, and 0.6%, respectively.
The Dow Jones Industrial Average and the S&P 500 were getting a defensive lift as materials, industrial and health care stocks charged ahead. The rally in materials, industrial, and health care stocks was pushing up the Dow Jones Industrial Average, which had risen more than 100 points or 0.4%, to 25,768.58, and the S&P 500, which had climbed 0.3% to 2857.74.
Donald Trump was elected as the 45th US president riding his “Make America Great Again” slogan. The slogan found resonance especially among blue-collar workers. The US industrial sector (DIA) has seen jobs shift overseas on lower labor costs in emerging economies such as Mexico and China.
The Dow Jones Industrial Average is trying to head higher on a quiet August Monday. Emerging markets are calm, PepsiCo has agreed to buy SodaStream, and Tesla is tumbling…again. A gathering of central bankers in Jackson Hole on Friday could be the wild card later this week.
Global stocks mostly rose Monday amid signs of progress in resolving the trade dispute between the U.S. and China. The Wall Street Journal reported the countries hope to have a resolution by November. ...
Recent optimism related to global trade war concerns, a robust U.S. economy and strong earnings results are likely to pave the way for further upside of the Dow 30.