Market Moves The S&P 500 index closed at its lowest price level since Labor Day as investors showed their concerns over the Fed's ongoing open market operations and President Trump's anti-globalist comments to the United Nations assembly. Even the news, tweeted by President Trump, that he would make publicly available the unredacted transcripts of his conversation with Ukranian officials couldn't turn the markets around, although they did rally for about 20 minutes on the news. The S&P 500 Index ( SPX ) closed nearly 1% lower for the day and put in the largest trading range for the whole month of September. The Nasdaq 100 ( NDX ) and Russell 2000 ( RUT ) indexes both closed more than 1% lower. The trading was on medium to high volume , underlining the significance of this move and the preference investors are showing for safer havens such as bonds and gold. Indeed, 20-year treasury bonds, as tracked by the iShares 20-year Treasury Bond ETF ( TLT ), and the … [Read more...] about Stocks Break Lower With Month’s Largest Trading Range
- A + A BENGALURU (Oct 3): US stock indexes rose on Monday (Oct 3) after sharp declines last week although losses in Tesla Inc capped the gains on the Nasdaq after the world's most valuable electric-vehicle maker missed quarterly delivery targets. Ten of the 11 major S&P 500 sectors advanced in early trading, with the energy sector leading gains. Megacap growth and technology companies such as Apple and Microsoft also advanced 1.5% each. "We could see a rebound in the beginning of the quarter simply due to the low sentiment and the lows that were reached at the tail-end of the last quarter," said Jason Pride, chief investment officer for private wealth at Glenmede in Philadelphia. All three major indexes ended a volatile third quarter lower on Friday on growing fears that the Federal Reserve's aggressive monetary policy will tip the economy into recession. "We suspect during the quarter it is going to become more apparent that we are getting closer to a … [Read more...] about Wall Street jumps over 1% to start fourth quarter
Share to Twitter Share to Linkedin Topline The stock market rallied Monday as investors backed off their most dire recession fears as the typically auspicious fourth quarter kicked off trading, with the Dow Jones Industrial Average on track for its best day since July 19. Key Facts The Dow rose 2.1%, or 600 points, while the S&P 500 gained 1.9% and the tech-heavy Nasdaq jumped 1.4%. The rally comes after all three indices posted their worst September in more than a decade and the S&P declined for the third straight quarter for the first time since 2009. Mark Haefele, UBS' chief investment officer, pointed out the more positive sentiment the fourth quarter brings in a Monday note to clients, and for good reason; on average, the S&P has risen 4.8% over the last three months of the year since 1988 . Investors responded positively to the Federal Reserve beginning to move to an “incrementally dovish” attitude on interest … [Read more...] about Dow Surges 600 Points As Market Hopes For Positive Fourth Quarter
Share to Twitter Share to Linkedin Topline Shares of Credit Suisse plunged to an all-time low Monday as investors traded on concerns about the Swiss banking giant’s financial health and management’s ability to restructure the institution in a manner that would satisfy skeptics who believe the bank’s capital position is at great risk–which is sparking whispers of a so-called ‘Lehman Brothers moment.’ Key Facts Credit Suisse shares fell to an all-time low of $3.70 Monday in New York before recovering to $4.01 and fell as much as 5% in Zurich as investor confidence in the Swiss banking giant continues to fall as its capital position is being questioned after months of falling profits. The bank is working to restore confidence with CEO Ulrich Körner writing in a Friday note to employees (which was viewed by Forbes and shared earlier with other outlets) not confuse the company’s “day-to-day stock price performance with the strong capital base and … [Read more...] about Credit Suisse Shares Tank As Capital Concerns Spark Reminders Of Lehman Brothers Failure: Here’s What We Know
Share to Twitter Share to Linkedin Warren Buffett's lesser known right hand man Charlie Munger once said, “If you’re going to invest in stocks for the longer term, there are going to be periods when there's a lot of agony. I think you just have to learn to live through them.” The Pump & Dump The last ten months have been very rough to say the least if you are a stock investor. The S&P 500 Index is down 22 percent year to date, but that isn't representative of the base of the 24 million new investors that have come to the market in the last two years. Many popular held stocks are down a great deal more and the technology sector has been decimated. Investors have been heavily selling off growth businesses on the theory that the companies that performed best during boom times will be disproportionately affected by the rising interest rates and inflation we are now enduring. The NASDAQ is down 30 percent year to date. We are having a very … [Read more...] about Wealth Can Be Created On The Way Down In The Stock Market. It’s Just Not Obvious. Here’s How.
Wall Street’s three major indexes rallied to close over 2 percent on Monday as U.S. Treasury yields tumbled on weaker-than-expected manufacturing data, increasing the appeal of stocks at the start of the year’s final quarter. The U.S. stock market has suffered three quarterly declines in a row in a tumultuous year marked by interest rate hikes to tame historically high inflation, and concerns about a slowing economy. “The U.S. yield markets (are) pulling back – that’s been a positive … and that connotes a more risk-on environment,” said Art Hogan, chief market strategist at B. Riley Wealth in Boston. Further supporting rate-sensitive growth stocks , the benchmark U.S. 10-year Treasury yield fell after British Prime Minister Liz Truss was forced to reverse course on a tax cut for the highest rate. All 11 major S&P 500 sectors advanced to positive territory, with energy being the biggest gainer. Oil majors Exxon Mobil Corp and Chevron Corp rose more than 5 percent, … [Read more...] about Wall Street closes with sharp gains as final quarter begins
- A + A KUALA LUMPUR (Oct 4): Bursa Malaysia opened on a positive note in the early morning session, tracking the strong rebound on Wall Street overnight, a dealer said. At 9.05am on Tuesday (Oct 4), the benchmark FBM KLCI had advanced 7.02 points to 1,404.64 from Monday's close at 1,397.62. The benchmark index opened 6.14 points better at 1,403.76. On the broader market, gainers led losers 282 to 62, while 156 counters were unchanged, 1,853 untraded, and 30 others suspended. Turnover stood at 119.91 million units worth RM68.64 million. Malacca Securities Sdn Bhd reckoned that regional markets, including the local bourse, should trade higher on Tuesday, following the sharp rebound on Wall Street. "Nevertheless, the rebound may sit on shaky ground due to lingering global recession fears and a lack of fresh positive catalysts. Investors may take the opportunity to sell into strength," it said in a research note. Commodities-wise, crude oil signalled a … [Read more...] about Bursa higher in early trade after Wall Street rebound
Share to Twitter Share to Linkedin Snap Inc. CEO Evan Spiegel. The messaging company's S-1 became available on DAY. (Associated Press) Snap Inc., formerly known as Snapchat, said in a regulatory filing Thursday that it plans to raise up to $3 billion in an IPO. The six-year-old company, known as much for its devoted following among millennials as for its secrecy, said it had revenue of $404.5 million in 2016, a roughly 700% increase from the year earlier. Snap’s 2016 revenue was far higher than the $250 million to $350 million range that had been expected. However, Snap isn’t yet profitable. The company said it had a net loss in 2016 of $515 million, compared with a net loss of $373 million a year earlier. And the company reported a pre-tax loss of $459.4 million in 2016. "We have incurred operating losses in the past, expect to incur operating losses in the future, and may never achieve or maintain profitability," the company wrote in the … [Read more...] about Snap Is Looking To Raise Up To $3 Billion In IPO – Docs Reveal Heavy Losses
Share to Twitter Share to Linkedin As the new month begins, investors have been closely watching macroeconomic developments and central bank policy decisions at a time when bitcoin continues to trade within a relatively modest range. The world’s most well-known digital currency has been fluctuating between roughly $18,950 and $19,650.00 since the start of October, TradingView figures reveal. Around 3:00 p.m. ET today, it reached the upper end of this range, additional TradingView data shows. Since then, it has pulled back very slightly, trading close to $19,600 at the time of this writing. [Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.] Analysts highlighted several key variables that crypto investors should watch going forward in order to stay on top of the traditionally volatile digital currency markets. … [Read more...] about What Do Bitcoin Investors Need To Know As October Begins?
Share to Twitter Share to Linkedin Topline The stock market rallied Monday and investors backed off their most dire recession fears as the typically auspicious fourth quarter kicked off trading, with the Dow Jones Industrial Average posting its second-best day of 2022. Key Facts The Dow rose 2.7%, or about 760 points—its second-largest increase of the year on a percentage basis—while the S&P 500 gained 2.6% and the tech-heavy Nasdaq jumped 2.3%. The rally comes after all three indices posted their worst September in more than a decade and the S&P declined for the third straight quarter for the first time since 2009. Mark Haefele, UBS' chief investment officer, pointed out the more positive sentiment the fourth quarter brings in a Monday note to clients, and for good reason—on average, the S&P has risen 4.8% over the last three months of the year since 1988 . Investors responded positively to the Federal Reserve … [Read more...] about Dow Surges 760 Points As Market Hopes For Positive Fourth Quarter