US stocks close with solid gains. S&P up on the week. Dow and Nasdaq show modest declines

Dow Jones rises by 1.17%

The major indices are closing with solid gains on the day after strong job gains. The Dow industrial average leads the way with a gain of over 1.2%. The S&P index and NASDAQ index rose by about 0.9% to 1.0%.

The final numbers are showing:

  • S&P index rose 28.42 points or 0.91% at 3145.85. The high price reached 3150.60. The low extended to 3134.62
  • NASDAQ index rose 85.826 points or 1.0%. The high price reached 8665.44. The low extended to 8630.57
  • Dow industrial average rose 336.90 points or 1.22% at 28014.69. The high price reached 28035.85. The low price extended to 27839.68

For the week, the S&P index squeaked out a small gain while the NASDAQ and Dow both ended with modest losses. The changes for the week are showing:

  • S&P index, +0.16%
  • NASDAQ index, -0.10%
  • Dow industrial average, -0.13%

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Australia stocks lower at close of trade; S&P/ASX 200 down 0.74%

© Reuters.  Australia stocks lower at close of trade; S&P/ASX 200 down 0.74% © Reuters. Australia stocks lower at close of trade; S&P/ASX 200 down 0.74%

Investing.com – Australia stocks were lower after the close on Thursday, as losses in the , and sectors led shares lower.

At the close in Sydney, the lost 0.74%.

The best performers of the session on the were Monadelphous Group Ltd (ASX:), which rose 3.00% or 0.480 points to trade at 16.500 at the close. Meanwhile, Southern Cross Media Group Ltd (ASX:) added 2.81% or 0.025 points to end at 0.915 and Metcash Ltd (ASX:) was up 2.36% or 0.070 points to 3.040 in late trade.

The worst performers of the session were Polynovo Ltd (ASX:), which fell 6.09% or 0.120 points to trade at 1.850 at the close. Webjet Ltd (ASX:) declined 5.98% or 0.770 points to end at 12.110 and Mineral Resources Ltd (ASX:) was down 5.50% or 0.810 points to 13.920.

Falling stocks outnumbered advancing ones on the Sydney Stock Exchange by 676 to 443 and 303 ended unchanged.

The , which measures the implied volatility of S&P/ASX 200 options, was up 3.61% to 11.627.

Gold Futures for December delivery was down 0.29% or 4.25 to $ 1469.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in January fell 0.25% or 0.14 to hit $ 56.87 a barrel, while the January Brent oil contract fell 0.27% or 0.17 to trade at $ 62.23 a barrel.

AUD/USD was down 0.04% to 0.6800, while AUD/JPY fell 0.05% to 73.83.

The US Dollar Index Futures was down 0.01% at 97.800.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Dip-buyers save US stocks from a deeper fall (for now)

Stocks slump on trade headlines

Stocks slump on trade headlines

The main headline today was a report saying US-China talks could extend into 2020 because the sides are deadlocked.

The reaction was quick and the S&P 500 fell as low as 3091. However the dip buyers stepped up to the plate again (are you surprised?) and the index finished at 3108, a loss of 12 points or 0.4%.

Other markets:

  • Nasdaq -0.5%
  • DJIA -0.4%
  • TSX -0.1%
After the close of the market, CNBC reported that the trade talks are ‘in trouble’. Somehow, the story hasn’t gotten any attention, perhaps because it was a live report with no text follow up. We’ll see if it gets some traction in the hour ahead.

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Forexlive Americas FX news wrap: US jobs impress. ISM does not, but stocks love it

Forex news for NY trading on November 1, 2019

In other markets, the snapshot at the end of the week is showing: 

  • Spot gold is $ 0.17 or 0.01% at $ 1513.11
  • WTI crude oil futures surged by $ 1.95 or 3.60% at $ 56.13

The US jobs were impressive. The ISM manufacturing index was not, but the stocks loved that people are working but the Fed will not be tightening any time soon, and may ease if the risks to the downside materialize or inflation stays contained.

The details.

  • Nonfarm payroll rose 128K vs 85K estimate.  Moreover,the two-month revision was +95K. This was despite  -41.6K from the GM strike.  The average hourly earnings rose 53.0 percent year on year. The unemployment rate remained low at 3.6% (a tick up from 3.5% record low last month).
  • The ISM data was not that great with the number below the 50 level for the 2nd consecutive month.  As good as the employment number was, the ISM was bad. The employment component was at below 50 at 47.7. The prices paid fell to 45.5.  

Although one was good and one was bad, the stock market loved that potion.  Afterall, people are working, earnings are up, but manufacturing and prices were not so great. That keeps the Fed on hold for a long time and keeps the door open for more easing down the road IF the inflation does not materialize (or goes down).  Remember core PCE yesterday was at 1.7%.  

The net result in the stocks was an up 1% or > for the major indices and record closes for the S&P and Nasdaq. The Dow rose 300 points too, and sits just 13 points from a new all time high for it.   If it weren’t for Boeing – which is muddling around unchanged on the year when the indices are up 20% or so – the Dow would be making all-time highs too (Boeing has a big weight in the Dow calculation).  

Anyway, the estimates for GDP from the NY Fed and the Atlanta Fed corraborated with the sluggish GDP idea with estimates for 0.8% and 1.1% respectively. Admittedlly, it is early, but it is not what the Fed wants – especially with inflation not running.

In the Forex, the NZD is ending the day as the strongest of the majors today. The JPY is the weakest. The USD was lower with the exception of the rise vs the JPY (helped by stocks) and the GBP (some political care in the GBP today). 

Forex news for NY trading on November 1, 2019

For the week in the forex this week, the AUD and the NZD ran neck-and-neck for the strongest of the majors, while the CAD was the weakest. The USD was also mostly lower with the exception of a 0.63% gain vs the loonie.

The major currency changes for the week.

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Why ‘staying tuned’ means trouble for stocks

inspired by bloomberg MLB

inspired by bloomberg MLB

Ha – good point from Bloomberg. ‘Stay tuned’ means when President Trump gets up he is going to start tweeting. Possibly retaliation to retaliation. In the balance, I think risk if off from here now. Certainly stay tuned at any rate….

S&P500 futures are in the red and most of Europe is too (bar UK which is +0.05%)

Gold and silver longs are attractive if we get a further souring in sentiment and AUDJPY shorts too

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ForexLive Americas FX news wrap: Solid jobs stokes stocks wages hurt USD

Forex news for Americas trading on October 4, 2019:

Markets:

  • Gold flat at $ 1504
  • US 10-year yields down 1.5 bps to 1.52%
  • WTI crude up 43-cents to $ 52.86
  • S&P 500 up 41 points to 2952
  • CHF leads, USD lags

The jobs report had something for everyone and that led to varying market reactions. In FX, the US dollar softened because the wage data in the report was soft enough to keep the Fed in play, while the headline wasn’t soft enough to spark risk aversion.

USD/JPY initially climbed to 107.15 from 106.75 on relief that the jobs report wasn’t bad but it gave back about half the gains over the remainder of the day, despite the optimism in stock markets.

The euro didn’t so much to close out the week. It bounced around on the jobs report but was generally in a narrowing range right around where it closed. The ECB minutes are due next week.

Cable came under some pressure early in North American trade but bottomed into the options expiration at 1.2276 and then made its way back to unchanged at 1.2334.

AUD/USD was one of the few steady trends as it benefited from some better talk on US-China trade in a slow move to 0.6770 from 0.6745 at the dawn of  US trade.

USD/CAD finished lower as oil gained for the first time in nine trading days. The Ivey PMI hit a three-year low but the market brushed off the volatile indicator. Canadian trade balance was a bit better than expected but had minimal impact.

Forex news for Americas trading on October 4, 2019:

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Stocks – Kraft, Corning, Anheuser-Busch Fall Premarket

© Reuters.  © Reuters.

Investing.com – Stocks in focus in premarket trading on Tuesday:

• Kraft Heinz (NASDAQ:) stock fell 2.9% in premarket trade by 8:20 AM ET (12:20 GMT) after 3G Capital Partners sold 25.2 million shares at $ 28.44 – a 2% discount to Monday’s close. Kraft director Jorge Lemann bought 3.5 million shares at $ 28.60 per share, according to an SEC filing.

• Anheuser Busch Inbev (NYSE:) stock rose 1.4% as the company revived plans to list its Asia-Pacific business. It’s planning to raise up to $ 6.6 billion through an initial public offering for the unit, valuing it at up to $ 50.7 billion, according to various reports.

• Corning (NYSE:) stock slumped 8.8% after the glass and optical component maker cut its sales forecast for TV and cable parts, due to cutbacks at several major telecommunication companies.

• Shopify (NYSE:) declined 5% after the company announced a secondary stock offering of 1.9 million shares in an attempt to strengthen its balance sheet.

• SeaWorld Entertainment (NYSE:) stock fell 1.9% after its CEO Gustavo Antrocha resigned after only seven months on the job.

Home Depot (NYSE:) stock slipped 1.1% after it was downgraded to ‘neutral’ from ‘buy’ by analysts at Guggenheim Securities, who noted an increase in the company’s spending and expenses next year as the reason for the downgrade.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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US stocks poised to tick lower at the day

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U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14%

© Reuters.  U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14% © Reuters. U.S. stocks mixed at close of trade; Dow Jones Industrial Average up 0.14%

Investing.com – U.S. stocks were mixed after the close on Monday, as gains in the , and sectors led shares higher while losses in the , and sectors led shares lower.

At the close in NYSE, the gained 0.14% to hit a new 1-month high, while the index fell 0.01%, and the index declined 0.19%.

The best performers of the session on the were Walgreens Boots Alliance Inc (NASDAQ:), which rose 5.76% or 3.03 points to trade at 55.59 at the close. Meanwhile, Caterpillar Inc (NYSE:) added 3.71% or 4.55 points to end at 127.25 and Dow Inc (NYSE:) was up 2.80% or 1.21 points to 44.45 in late trade.

The worst performers of the session were Merck & Company Inc (NYSE:), which fell 3.58% or 3.10 points to trade at 83.47 at the close. Visa Inc Class A (NYSE:) declined 2.26% or 4.19 points to end at 181.55 and The Travelers Companies Inc (NYSE:) was down 1.84% or 2.79 points to 149.23.

The top performers on the S&P 500 were Helmerich and Payne Inc (NYSE:) which rose 8.56% to 41.72, National Oilwell Varco Inc (NYSE:) which was up 8.07% to settle at 23.96 and L Brands Inc (NYSE:) which gained 6.94% to close at 17.87.

The worst performers were MarketAxess Holdings Inc (NASDAQ:) which was down 11.85% to 369.69 in late trade, IDEXX Laboratories Inc (NASDAQ:) which lost 7.37% to settle at 267.20 and Roper Technologies Inc (NYSE:) which was down 4.80% to 356.96 at the close.

The top performers on the NASDAQ Composite were ACADIA Pharmaceuticals Inc (NASDAQ:) which rose 63.24% to 38.850, FuelCell Energy Inc (NASDAQ:) which was up 60.16% to settle at 0.640 and Changyoucom Limited (NASDAQ:) which gained 49.32% to close at 8.84.

The worst performers were Neurotrope Inc (NASDAQ:) which was down 77.27% to 1.0000 in late trade, Freds Inc (NASDAQ:) which lost 49.47% to settle at 0.12 and Synthesis Energy Systems Inc (NASDAQ:) which was down 26.75% to 2.3805 at the close.

Rising stocks outnumbered declining ones on the New York Stock Exchange by 1853 to 1117 and 64 ended unchanged; on the Nasdaq Stock Exchange, 1652 rose and 1024 declined, while 75 ended unchanged.

Shares in ACADIA Pharmaceuticals Inc (NASDAQ:) rose to 52-week highs; gaining 63.24% or 15.050 to 38.850. Shares in Neurotrope Inc (NASDAQ:) fell to 3-years lows; falling 77.27% or 3.4000 to 1.0000. Shares in Freds Inc (NASDAQ:) fell to all time lows; down 49.47% or 0.12 to 0.12. Shares in Synthesis Energy Systems Inc (NASDAQ:) fell to 3-years lows; falling 26.75% or 0.8695 to 2.3805.

The , which measures the implied volatility of S&P 500 options, was up 1.80% to 15.27.

Gold Futures for December delivery was down 0.56% or 8.45 to $ 1507.05 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in October rose 2.71% or 1.53 to hit $ 58.05 a barrel, while the November Brent oil contract unchanged 0.00% or 0.00 to trade at $ 62.67 a barrel.

EUR/USD was up 0.01% to 1.1047, while USD/JPY rose 0.02% to 107.25.

The US Dollar Index Futures was down 0.08% at 98.287.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Stocks: Jobs Report, Fed’s Powell Help Boost S&P 500

© Reuters.  © Reuters.

Investing.com – Stocks moved mostly higher on Friday, thanks in part to a decent jobs report and Federal Reserve Chairman Jerome Powell’s continued assurance the central bank stands ready to support the economic expansion.

The rose 0.1%, with the up 0.26%. The slipped to a small loss at the end of the day because of weakness in Amazon.com (NASDAQ:), Microsoft (NASDAQ:) and Apple (NASDAQ:).

Plus, White House Economic Advisor Larry Kudlow suggested it may take some time to get a trade deal with China. Tech stocks are heavily exposed to China. Stocks had soared Wednesday and Thursday on news that U.S. and Chinese negotiators expect to meet next month in Washington, D.C.

The major averages finished higher for a second straight week. The S&P 500 was up 1.8% on the week. The Dow added 1.5% and the Nasdaq was up 1.76%. A week ago, the S&P 500 was up 2.8%, with the Dow up 3% and the Nasdaq up 2.7%.

The August showed payroll employment added 130,000 jobs in August, less than expected, and the U.S. held at 3.7%. The employment figure would have been lower except for 25,000 workers put on the government payroll to prepare for the 2020 census. Payroll estimates for June and July were revised lower.

But the report did not suggest a recession was in the offing.

Indeed, Fed Chairman Powell, speaking in Switzerland, said the economy is healthy and not in danger of falling into a recession. His remarks followed the usual tweets from President Trump calling for deep rate cuts when the Fed’s Federal Open Market Committee meets Sept. 17-18. The central bank is expected to cut its key federal funds rate by a quarter percentage point – not as much as the president wants.

Telecom, energy, materials and staples stocks led the market. Costco Wholesale (NASDAQ:), Home Depot (NYSE:) and Target Corporation (NYSE:) all hit 52-week highs.

Cyber security company Symantec (NASDAQ:) was up 4.5% after The Wall Street Journal reported that two private companies (Permira and Advent International) had approached the company about taking it private at $ 26 to $ 27 a share, valuing the company at about $ 16 billion. Symantec already has a deal to sell its enterprise business to Broadcom (NASDAQ:) for $ 10.7 billion and that deal is near to being closed.

And pharmaceutical company Mallinckrodt (NYSE:) jumped 17.6% after announcing it will pay $ 24 million in cash to settle opioid-related cases in two Ohio counties.

Intel (NASDAQ:), Home Depot (NYSE:) and Exxon Mobil (NYSE:) led the , with Microsoft (NASDAQ:), Walmart (NYSE:) and American Express (NYSE:) the laggards.

Energy shares moved as crude moved up 22 cents to $ 56.52 a barrel, ending the week up 2.6%. crude rose 59 cents to $ 61.54 and gained nearly 3.9% this week. moved lower, with futures in New York, closing at $ 1,515.50 an ounce, down $ 10.

Symantec (NASDAQ:), over-the-counter drug company Perrigo (NYSE:), Alexion Pharmaceuticals (NASDAQ:) and Tapestry (NYSE:), owner of the Coach and Kate Spade businesses, were among the top performers on Friday.

Advanced Micro Devices (NASDAQ:), Monster Beverage (NASDAQ:), electric utility WEC Energy Group (NYSE:) and oil-and-gas company TechnipFMC (NYSE:) were among the S&P 500 laggards.

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