Previous Close |
---|
24,899.41 |
5 Day |
|
1 Month |
|
3 Month |
|
YTD |
|
1 Year |
|
U.S. equity markets closed solidly lower on Tuesday with the Dow industrials halting their eight-day advance. The selling on Wall Street was accompanied by a rise in bond yields, with the 10-year Treasury yield topping 3.07%. The Dow Jones Industrial Average lost 193.00 points, or 0.8%, to 24,706.41, putting an end to a 8-day rally, the longest since last September. The S&P 500 index fell 18.69 points, or 0.7% to 2,711.44. Meanwhile the Nasdaq Composite declined 59.69 points, or 0.8% to 7,351.63. Among the worst performers on the S&P 500, Agilent Technologies shares dropped nearly 10% after the maker of medical instruments and other equipment posted quarterly earnings that matched forecasts late Monday.
Nasdaq closes down 0.8%
Dow ends off 0.8%; S&P 500 sinks 0.7%
Dow halts win streak at 8, with nearly 200-point tumble as rates jump above 3%
The Cboe Volatility index jumped on Tuesday, moving higher as U.S. stock-market indexes saw one of their biggest daily declines in weeks. The VIX climbed 13%, or 1.65 point, to 14.58. At current levels, the so-called "fear index" is on track for its biggest one-day jump since April 6. The size of the day's move in part reflects how low the VIX has been lately; even the current level is well below its long-term average between 19 and 20. Recently, it settled at its lowest level since January, and it is down more than 16% over the past month. The day's increase brings its year-to-date gain to 32.4%. The VIX, which uses S&P 500 options to calculate expectations for volatility over the coming 30 days, has dropped in seven of the past eight sessions, not including Tuesday's. The spike on Tuesday came as stocks fell broadly. The Dow Jones Industrial Average lost 0.8% while the S&P 500 was off 0.7% and the Nasdaq Composite Index fell 0.9%.
The Dow Jones Industrial Average relinquished its hold on a modest year-to-date gain for 2018 in midday trade Tuesday, as blue chips retreated sharply lower amid a rise in benchmark interest rates. The Dow was down 1%, or 240 points, at 24,658, down about 0.3% for the year, according to FactSet data. The 10-year Treasury note yielding about 3.07%, marking its highest rate since 2011 and rattling investors worried that climbing rates will advance faster than economy's rate of growth in the ninth year of expansion. Rising rates also undercut appetite for stocks, encouraging buying in perceived risk-free assets like Treasurys. A yield higher than 3% for the 10-year government bond is viewed as a psychological, round-number level that would cause the most friction between those weighing the benefits of risk assets and the perceived safety of government paper. Meanwhile, the S&P 500 index was down 0.8% at 2,707, holding on to its 1.3% year-to-date return, while the Nasdaq Composite Index was off 1% at 7,335 for the session, but still up 6.3%, so far in 2018.
Shares of Boeing Co. bounced in midday trade Tuesday, to cut its intraday losses in half, after the aerospace giant called the World Trade Organization's finding that the European Union had failed to honor previous rulings about illegal subsidies to rival European aircraft maker Airbus SE was a "landmark ruling." The stock was still down 0.7%, but had been down as much as 1.3% at its intraday low. "Today's final ruling sends a clear message: disregard for the rules and illegal subsidies is not tolerated," said Boeing Chief Executive Dennis Muilenburg. "The commercial success of products and services should be driven by their merits and not by market-distorting actions." Boeing said the WTO's decision clears the way for the U.S. to seek remedies for the "unfair" trade practices by placing tariffs on European imports. Boeing's stock has lost 4.0% over the past three months, while Airbus shares have gained 3.9% in overseas trading and the Dow Jones Industrial Average has slipped 2.0%.
Bernstein analyst Toni Sacconaghi weighed in Tuesday on Apple Inc.'s services business, which helped buoy results in the latest quarter even as iPhone unit sales came up short. Sacconaghi wrote that Apple's licensing business, which primarily consists of traffic-acquisition-cost payments from Alphabet Inc. , may be responsible for essentially all" of the acceleration in services revenue growth during the first half of Apple's fiscal year. "In the near-term, growth will likely decelerate in FY Q3 and FY Q4, in part due to tougher comps and as the licensing business laps its contract renegotiation with Google," wrote Sacconaghi, who rates the stock at market perform with a $190 target. "While we still doubt that Services can sustainably grow at 20%+ without new services offerings, we now see Apple as likely to hit its bogey of doubling Services to $49B by the end of FY20." He estimates that iCloud subscriptions will generate $3.5 billion to $4 billion in revenue for the current fiscal year. He projects that total subscription services are currently at a $12 billion annual run rate. That includes Apple Music, iCloud, and cuts of people's Netflix memberships when they buy them through an app on their iPhones. Apple shares are down 1.1% in Tuesday morning trading but up 21% over the past 12 months, while the Dow Jones Industrial Average has gained 18%.
U.S. stock funds are on track for a third straight month of outflows as investors grow wary of the aging bull market.
A Tuesday stock market rally is putting major indexes on track to close above a key technical level, signaling they're regaining momentum after a rough stretch this year.
U.S. stocks' selloff intensified in afternoon trade Friday as fears mount about the impacts of a trade spat between the U.S. and China.
Stock investors have at least one reason for optimism: earnings season.
Whereas nothing seemed to faze the market in 2017, everything seems to be faze it in 2018.
A stock market selloff deepened on Monday after, led by high-flying technology stocks.
Major stateside stock benchmarks are pacing for a better annual performance than much of the rest of the world, despite a volatile few weeks.
It's quite likely the new chair will see more market volatility during his term than did his predecessor. Janet Yellen's time at the helm was marked by mostly serene markets.
Money is flowing back into stocks, a sign that investors believe the market will keep climbing after the recent selloff.
Jane's April Dividend Income Tracker - Retirement Accounts
The 6 Commandments of Value Investing No. 5 - Risk Is a Permanent Loss of Capital (Not Volatility)
Ben Inker's 1st Quarter GMO Letter: Is Investing Starting to Get Difficult Again? I Hope So
Bank Of England Monetary Policy; California To Mandate Residential Solar Panels (Wall Street Breakfast Podcast)
Wall Street Breakfast: Super Thursday At The Bank Of England
Royce Funds Commentary: Bill Hench on Deep Value Opportunities
Schneider Small Cap Value Fund 1st Quarter Commentary
Cobas Asset Management Commentary: Spanish Funds or Luxembourg Funds?
The Six Commandments of Value Investing: No. 2 - Long-Term Time Horizon
Boyar Value Group Podcast: Interview With Omega Advisors' Steve Einhorn
Key U.S. | Last | Chg | Chg % |
---|---|---|---|
Dow Jones Industrial Average | |||
NASDAQ Composite Index | |||
S&P 500 Index | |||
Russell 2000 Index | |||
Other U.S. | Last | Chg | Chg % |
Dow Jones Transportation Average | |||
Dow Jones Utility Average Index | |||
Dow Jones U.S. Total Stock Market Index | |||
NASDAQ 100 Index (NASDAQ Calculation) | |||
S&P 400 Mid Cap Index | |||
NYSE Composite Index | |||
Barron's 400 Index | |||
CBOE Volatility Index | |||
Global | Last | Chg | Chg % |
Global Dow Realtime USD | |||
Asia/Pacific | Last | Chg | Chg % |
The Asia Dow Index USD | |||
S&P/ASX 200 Benchmark Index | |||
Shanghai Composite Index | |||
Hang Seng Index | |||
S&P BSE Sensex Index | |||
NIKKEI 225 Index | |||
FTSE Straits Times Index | |||
Europe | Last | Chg | Chg % |
STOXX Europe 50 Index EUR | |||
STOXX Europe 600 Index EUR | |||
CAC 40 Index | |||
DAX | |||
IBEX 35 Index | |||
FTSE 100 Index GBP | |||
Americas | Last | Chg | Chg % |
BOVESPA Index | |||
S&P/TSX Composite Index | |||
IPC Indice de Precios Y Cotizaciones |
Company | Last | Chg | Chg % |
---|---|---|---|
Nike Inc. Cl B | |||
Walt Disney Co. | |||
Walmart Inc. | |||
General Electric Co. | |||
Exxon Mobil Corp. | |||
VISA Inc. Cl A | |||
Travelers Cos. Inc. | |||
United Technologies Corp. | |||
International Business Machines Corp. | |||
Procter & Gamble Co. | |||
Pfizer Inc. | |||
Cisco Systems Inc. | |||
Chevron Corp. | |||
American Express Co. | |||
DowDuPont Inc. | |||
Microsoft Corp. | |||
Boeing Co. | |||
Johnson & Johnson | |||
JPMorgan Chase & Co. | |||
Coca-Cola Co. | |||
Merck & Co. Inc. | |||
Apple Inc. | |||
Goldman Sachs Group Inc. | |||
McDonald's Corp. | |||
UnitedHealth Group Inc. | |||
Verizon Communications Inc. | |||
Home Depot Inc. | |||
3M Co. | |||
Caterpillar Inc. | |||
Intel Corp. |