Thursday, July 29

NASDAQ

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US futures swing into the green after sharp tech sell-off, while bonds yields rise ahead of Fed decision

US stocks have been hit by worries over China. John Minchillo/AP US futures swung into the green on Wednesday as US earnings season rolled on, after China's crackdown on its big companies drove a sharp tech sell-off the day before.Meanwhile, bond yields moved slightly higher ahead of the latest monetary policy decision by the Federal Reserve, due later Wednesday.Futures for the tech-heavy Nasdaq 100 fell but then reversed their losses to rise 0.24%, after the linked index dropped 1.21% on Tuesday-its biggest fall in more than two months. S&P 500 futures rose 0.16%, while Dow Jones futures were roughly flat.China's government has intensified its scrutiny of its major private companies, which has triggered a sharp sell-off in Asian stocks this week. The government has brough...
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US stocks close at record highs as investors cheer blockbuster earnings

Xinhua/Wang Ying/ Getty Images US stocks finished the week strong with all three major indexes closing at records Friday as investors cheered blockbuster tech earnings and looked towards next week's Fed meeting.Shares of Snap soared 23% after the social media app exceeded earnings expectations. Twitter also gained after beating estimates, and Bank of America analysts said the stock could rise another 30% as the social media platform stands to see further growth in advertising sales which have been recovering after the onset of the coronavirus pandemic. The good news lifted tech peers Facebook and Google both by more than 3%. Here's where US indexes stood at the 4:oo pm ET close on Friday:The blank-check company backed by billionaire Thomas Barrack withdrew its application for an ...
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Dow stages 550-point comeback after harsh sell-off as investors remain optimistic on growth

Xinhua/Wang Ying/ Getty Images US stocks staged a comeback Tuesday after a harsh sell-off the previous day, with the Dow rebounding 550 points as investors bought the dip and bet on the continued strength of the economic recovery. Industrials, real estate, and financial stocks gained the most out of any sectors in the S&P 500. Industries that hinge on the economic re-opening like restaurants, travel, and lodging all ended the day in the green. On Monday the S&P 500 faced its steepest decline since May while the Dow Jones saw its largest daily drop for the year. Here's where US indexes stood at the 4:00 pm ET close on Tuesday: JPMorgan's head of US equity strategy increased his year-end S&P 500 price target to 4,600 from 4,400, representing potential upside of 8% from Mon...
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US stocks slump as investors digest inflation data showing prices surged in June

Xinhua/Wang Ying/Getty Images US stocks fell Tuesday after inflation data showed prices rose more than expected in June.The Consumer Price Index increased 0.9% in June, far higher than Bloomberg's consensus estimate among economists of 0.5%. The reading marked the largest one-month change since June 2008.On a year-over-year basis, prices increased 5.4%, higher than economists' expectations for a 4.9% year-over-year increase. However, June 2020 was the lowest point for Core CPI during the pandemic shutdown, so year-over -year increases are expected. Here's where US indexes stood at the 4 pm ET close on Tuesday:Mike Lowengart, E*Trade Financial managing director of investment strategy, said that the real question on investors' minds after the CPI read is how long hot inflation numb...
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US stock futures tumble as investors fret about economic recovery, while bond yields slide for 8th straight day

Investors have become more cautious about US stocks in recent weeks. Johannes Eisele/Getty Images US futures tumbled in European trading on Thursday as investors reassessed the economic outlook. Bond yields, which move inversely to prices, also fell as investors took cover in the safe assets. Investors are concerned about the delta COVID-19 variant and central bank policy, analysts said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stock futures fell sharply on Thursday, as doubts crept in about the strength of the global economic recovery, and concerns grew about the delta coronavirus variant.Meanwhile, bond yields fell for the eighth session in a row as investors bet that inflation would be weaker than previously expected.S&P 500 futures fell 1% ...
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S&P 500, Nasdaq close at record highs as mega-cap tech spurs gains

The Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New York City Reuters US stocks traded near record highs Monday spurred by tech shares The yield on the US 10-year Treasury note was trading at 1.482%. Bitcoin rose while oil and gold slipped. US stocks closed mostly higher on Monday, with the S&P 500 and Nasdaq both hitting record highs on the back of gains in mega-cap technology stocks. Tech companies such as Apple, Amazon, Facebook, and Zoom outperformed. A judge on Monday dismissed antitrust lawsuits by the Federal Trade Commission that were seeking to brand the social media giant as an unlawful monopoly.Later this week, investors will turn their attention to US non-farm payroll data on Friday. This will give an indication of how consistently the ec...
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S&P 500 closes at record high in best week since February as investors brush off inflation concerns

Traders work on the floor of the New York Stock Exchange (NYSE) Spencer Platt/Getty Images US stocks closed higher on Friday with the S&P 500 notching a record high. The benchmark index's enjoyed its largest weekly gain since February. Stocks pushed higher after the latest batch of economic data showed an unexpected stagnation in personal spending last month and inflation ticking higher but less than expected. Core PCE inflation, which strips out volatile food and energy prices, jumped 0.5% in May, coming in below the median estimate of 0.6%. The gauge gained 3.4% year-over-year. The Federal Reserve uses the core measure as its primary gauge of inflation and has indicated will let inflation run above 2% for some time to facilitate a stronger labor-market recovery. Here's where US...
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S&P 500 and Nasdaq futures hover near record highs after Joe Biden strikes $1 trillion infrastructure deal, while oil prices rise

President Joe Biden (right) reached a deal with Republicans on infrastructure. Jacquelyn Martin/AP S&P 500 futures hovered near a record high on Friday after President Joe Biden struck a deal with Republicans on a $1 trillion infrastructure deal, which includes $579 billion of new spending.Futures for the benchmark S&P 500 were up 0.05%, while Nasdaq 100 futures rose 0.04%, after both indices hit a record high on Thursday. Dow Jones futures rose 0.26%, with industrial firms more likely to benefit from infrastructure spending.In Asia overnight, China's CSI 300 jumped 1.63% while Japan's Nikkei 225 climbed 0.66%. In Europe, the Stoxx 600 index slipped 0.09% in early trading.President Biden's deal would see over $1 trillion spent on upgrading the US's infrastructure over the next ei...
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US futures rise ahead of jobless claims and Fed speeches, while oil extends rally as outlook brightens

US stock index futures climbed on Thursday as investors awaited the release of weekly jobless claims data and prepared to digest a series of speeches from Federal Reserve officials.Meanwhile, oil prices extended their rally as the outlook for the global economy brightened, with vaccine rollouts spurring expectations of strong demand for energy in the coming months. Oil is on course for a third straight monthly gain in June. In Europe, stocks rose ahead of the Bank of England's interest rate decision. It is expected to leave monetary policy on hold but investors will scrutinize the decision for signs of concerns about inflation, which jumped abo...