U.S. stocks close higher for second day as financials extend rally

U.S. stocks close higher for second day as financials extend rally

U.S. stocks rose for a second session Tuesday as financial shares extended their rally in the wake of comments from Treasury Secretary Steven Mnuchin that he hopes to see a tax overhaul by the end of the year. Mnuchin also hinted that the administration may consider backdating the tax reform to the start of 2017. The S&P 500 SPX, +0.34% rose 8 points, or 0.3%, to close at 2,496. The Dow Jones Industrial Average DJIA, +0.28% climbed 62 points, or…

Read More Read More

S&P 500, Nasdaq and Dow close at records after interest rates jump, Mnuchin talks up tax reform

S&P 500, Nasdaq and Dow close at records after interest rates jump, Mnuchin talks up tax reform

Nasdaq and S&P 500 close at record high on Tuesday 12 Hours Ago | 01:04 U.S. stocks rose to all-time highs on Tuesday as financials received a boost from rising yields. Wall Street also digested comments from Treasury Secretary Steven Mnuchin on tax reform. The S&P 500 gained 0.3 percent, notching intraday and closing records. The index closed the session at 2,496.48. The Dow Jones industrial average finished at 22,118.86, eking out a record close. Goldman Sachs contributed the most…

Read More Read More

Dollar buoyant against yen, pound hits 1-year high on inflation jump

Dollar buoyant against yen, pound hits 1-year high on inflation jump

The dollar was buoyant against the yen on Wednesday, although it was capped against the euro with a potentially supportive spike in U.S. yields neutralized by a similar move by their German counterparts. The pound reached a one-year high after a robust UK inflation report added pressure on the Bank of England to do more to support the currency. The dollar was a shade lower at 110.085 yen after rising earlier in the session to 110.295, its highest since Sept….

Read More Read More

S&P 500 on track for best daily gain in about 4 months and only third 1% gain in 2017

S&P 500 on track for best daily gain in about 4 months and only third 1% gain in 2017

Stock markets Monday afternoon were enjoying a sharp rally, putting the S&P 500 index in position to post its best daily gain in about four months. The S&P 500 index SPX, -0.18% was most recently up more than 1% at 2,466, which would represent the best daily gain for the broad-market benchmark since April 24, according to FactSet data. In fact, the S&P 500 has only seen a gain of at least 1% on two other occasions so far in…

Read More Read More

The Dow Just “Plunged” 274 Points — the Horror! Well, Not Really

The Dow Just “Plunged” 274 Points — the Horror! Well, Not Really

If you’re an economic optimist, Thursday probably wasn’t your best day. When the clock struck 4 p.m. on Wall Street, the Dow Jones Industrial Average (DJINDICES:^DJI) had tumbled 274 points, marking its second-worst single-day drop of 2017. The drop reminded investors, according to numerous news outlets, just how fragile the U.S. economy is. Catalysts behind the Dow‘s no-good, very bad day Perhaps the biggest concern for investors yesterday was the news of a terror attack in the heart of Barcelona…

Read More Read More

Dollar falls on uncertainty but ends week with modest gain

Dollar falls on uncertainty but ends week with modest gain

The dollar fell against a basket of major currencies on Friday as continued uncertainty over the economic agenda of U.S. President Donald Trump pushed investors out of the greenback. The dollar dropped to a four-month low against the yen in early trading but retraced some of its losses after rumors began to swirl about the impending firing of White House senior adviser Steve Bannon. The White House confirmed Bannon’s exit in a statement Friday afternoon. As Trump’s chief strategist, Bannon…

Read More Read More

S&P 500 Futures: $1 Billion MOC, AAPL Earnings And Crude Oil’s Tumble

S&P 500 Futures: $1 Billion MOC, AAPL Earnings And Crude Oil’s Tumble

Yesterday, after trading in an 11 handle range overnight, the S&P 500 futures (ESU17:CME) opened the 8:30am CT regular session at 2474.50, up 4.50 handles. The ES printed a 2475.00 high on the open, and then sold off in a choppy fashion, ultimately finding a low of 2468.00 going into the European close. From there, the S&P’s attempted to rally, but ran out of steam during the less participated midday, making an afternoon high of 2474.00, but was never able…

Read More Read More

Why Dow 22,000 is not good news for most Americans

Why Dow 22,000 is not good news for most Americans

The U.S. stock market hit another record Wednesday, with the Dow Jones Industrial Average surpassing 22,000 for the first time. The media acted like Dow 22,000 DJIA, +0.24%  is a good thing. The cheerleaders in the anchor desks are wearing goofy hats and high-fiving each other like their team just won the Super Bowl. But record-high stock prices are not inherently a good thing. Whether it’s good for you individually depends on whether you own lots of shares or not. Most…

Read More Read More

Nasdaq Composite pivots sharply lower in afternoon trade

Nasdaq Composite pivots sharply lower in afternoon trade

The Nasdaq on Thursday afternoon turned sharply lower. The Nasdaq Composite Index COMP, +0.00% was most recently down 72 points, or 1.1%, as the index was jolted suddenly lower, with some investors and traders citing a combination of concerns about valuations and market participants taking some money off the table following a brisk run for the high-flying sector. The abrupt retreat for the tech-centric gauge came as the other main equity benchmarks pared an earlier advance. All three equity gauges…

Read More Read More

dow-ends-at-record-but-tech-slump-weighs-on-sp-500-nasdaq

dow-ends-at-record-but-tech-slump-weighs-on-sp-500-nasdaq

The Nasdaq on Thursday afternoon turned sharply lower. The Nasdaq Composite Index COMP, -0.63% was most recently down 72 points, or 1.1%, as the index was jolted suddenly lower, with some investors and traders citing a combination of concerns about valuations and market participants taking some money off the table following a brisk run for the high-flying sector. The abrupt retreat for the tech-centric gauge came as the other main equity benchmarks pared an earlier advance. All three equity gauges…

Read More Read More