18.1 C
New York
Tuesday, May 24, 2022
Home Blog Page 3

Stock market news April 8, 2022

0

Stock market today

How did the US stock market close today? A mixed stock market close today, Nasdaq underperformed and Dow Jones outperformed.

S&P 500: 4,488.28,-11.93 (-0.27%)

Dow 30: 34,721.12,+137.55 (+0.40%)

Nasdaq: 13,711.00,-186.30 (-1.34%)

Russell 2000: 1,994.56,-15.24 (-0.76%)

Stock market news

“U.S. stocks were mixed Friday to cap a choppy trading session as investors continued to contemplate the next policy moves by the Federal Reserve.

The S&P 500 closed down roughly 0.3% after attempting a comeback to end a three-week winning streak, while the Dow shook off earlier losses to climb 140 points, or 0.4%. The Nasdaq Composite shed 1.3% after underperformance in tech stocks held the index firmly in the red the entire session.

Fresh commentary from Fed officials remained in focus, as another set of speakers offered a mixed set of commentary on the policy path forward for the central bank. St. Louis Fed President James Bullard said Thursday that he wanted the Fed to get to between 3% and 3.25% on the Fed funds rate in the second half of this year, implying more aggressive, front-loaded interest rate hikes in the near-term. Bullard was the only dissenter in the Fed’s March meeting, calling for a larger 50 basis point interest rate hike versus the 25 basis point hike that ultimately occurred.

While Bullard has now been a longer-term hawk seeking greater action from the Fed to rein in inflation, earlier remarks this week suggested other members of the central bank were also warming to the idea of tightening policy. Fed Governor Lael Brainard said that the Federal Open Market Committee (FOMC) was “prepared to take stronger action,” should inflation readings remain elevated and warrant such moves. And in the Fed’s meeting minutes released Wednesday afternoon, the central bank revealed that “many participants … would have preferred a 50 basis point increase” in rates, and also suggested the Fed was gearing up to soon announce the start of its balance-sheet runoff process.

However, other Fed officials offered a more measured approach to raising rates. In remarks Thursday, Atlanta Fed President Raphael Bostic said it would be “appropriate” to move the benchmark interest rate “closer to a neutral position,” suggesting a somewhat less hasty series of interest rate hikes. Meanwhile, Chicago Fed President Charles Evans suggested the Fed would be able to “get to neutral, look around, and find that we’re not necessarily that far from where we need to go.”

Stock market data: Yahoo Finance

Stock market news April 6, 2022

0

Stock market today

How did the US stock market close today? All major US stock indexes closed lower, and Nasdaq underperformed. Small-cap stocks were also under pressure.

S&P 500: 4,481.15,-43.97 (-0.97%)

Dow 30: 34,496.51,-144.67 (-0.42%)

Nasdaq: 13,888.82,-315.35 (-2.22%)

Russell 2000: 2,016.94,-29.11 (-1.42%)

Stock market news

“U.S. stocks fell Wednesday as investors eyed more hawkish remarks from key monetary policymakers. These suggested that more members of the Federal Reserve were open to moving aggressively to raise interest rates and bring down demand and persistently elevated levels of inflation.

The S&P 500 dropped, adding to losses after the blue-chip index ended Tuesday’s session lower by 1.3%. The Dow Jones Industrial Average and Nasdaq also extended declines. In the bond market, the benchmark 10-year Treasury yield rose to top 2.6%, marking its highest level since May 2019.

Developments on Russia’s war in Ukraine and the Western response remained in focus Wednesday as the U.S. announced another round of sanctions on the Kremlin. The U.S. add penalties to more Russian government officials and family members as well as to Russian-owned enterprises and financial institutions.

Meanwhile, hawkish commentary from Federal Reserve officials also knocked U.S. equities from their latest march higher and send Treasury yields spiking. The Fed’s meeting minutes released Wednesday afternoon showed central bankers were discussing starting quantitative tightening in the near-term, and that “many participants … would have preferred a 50 basis point increase” in benchmark interest rates at the March meeting.

The meeting minutes reaffirmed other, more recent remarks from monetary policymakers. Federal Reserve Governor Lael Brainard said Tuesday that the Federal Open Market Committee (FOMC) was “prepared to take stronger action” should already elevated indicators of inflation rates and expectations warrant such moves.

Speaking in a webcast, Brainard suggested this could include aggressive interest rate hikes and a much quicker drawdown of the Federal Reserve’s balance sheet — which has thus far ballooned to nearly $9 trillion — than in previous periods.

“Given that the recovery has been considerably stronger and faster than in the previous cycle, I expect the balance sheet to shrink considerably more rapidly than in the previous recovery, with significantly larger caps and a much shorter period to phase in the maximum caps compared with 2017–19,” Brainard said. She noted the process of reducing the Fed’s balance sheet holdings, or beginning quantitative tightening, could begin as soon as the Fed’s next meeting in May.”

Stock market data: Yahoo Finance

Stock market news April 5, 2022

0

Stock market today

How did the US stock market close today? All major US stock indexes closed lower, and Nasdaq underperformed. Small-cap stocks were also under pressure.

S&P 500: 4,525.12,-57.52(-1.26%)
Dow 30: 34,641.18,-280.70(-0.80%)
Nasdaq: 14,204.17,-328.39(-2.26%)
Russell 2000: 2,046.04,-49.40(-2.36%)

Stock market news

“U.S. stocks faltered on Tuesday, dragged down by losses in tech, as investors weighed remarks by Federal Reserve Governor Lael Brainard that indicated policymakers were ready to act more aggressively to rein in inflation. Investors also monitored reports indicating the U.S. and European Union are expected to unveil more sanctions against Russia on Wednesday.

The S&P 500 tumbled 1.3%, and the Dow Jones Industrial Average shed 280 points after climbing for two straight trading sessions. The Nasdaq Composite plunged 2.3% to log its biggest drop in three weeks and erase gains from a tech rally that helped the index pop on Monday. Meanwhile, the 10-year U.S. Treasury yield jumped to 2.56%, its highest level since May 2019.

Brainard, who is awaiting a confirmation vote to serve in the central bank’s number two role, said at a conference on Tuesday that the Fed can raise interest rates more aggressively to dampen the high rate of inflation felt by Americans, also noting that officials will likely start shrinking asset holdings in a about a month (a move that could have the effect of further raising long-term interest rates).

“Currently, inflation is much too high and is subject to upside risks,” Brainard said. “The Committee is prepared to take stronger action if indicators of inflation and inflation expectations indicate that such action is warranted.”

Investors continued to monitor the war in Eastern Europe and weighed reports that the EU is expected to impose another round of sanctions against Russia. In a speech to the United Nations Security Council on Tuesday, Ukrainian President Volodymyr Zelenskyy accused Russian troops of committing “the most terrible war crimes” since World War II.

The United States and Western allies are expected to announce more Russia-related sanctions on Wednesday, Reuters reported, citing a source familiar with the matter.

“Tomorrow, the U.S. will announce, in coordination with the G7 and EU, an additional sweeping package of sanctions measures that will impose significant costs on Russia and send it further down the road of economic, financial, and technological isolation,” the source told Reuters.”

Stock market data: Yahoo Finance

Stock market news April 4, 2022

0

Stock market today

How did the US stock market close today? All major US stock indexes closed higher, and Nasdaq outperformed.

S&P 500: 4,582.64,+36.78(+0.81%)
Dow 30: 34,921.88,+103.61(+0.30%)
Nasdaq: 14,532.55,+271.05(+1.90%)
Russell 2000: 2,091.76,+0.65(+0.03%)

Stock market news today

“U.S. stocks gained on Monday as investors monitored the potential for more sanctions against Russia amid ongoing concerns over inflation and global economic growth.

The S&P 500 rose, and the Nasdaq Composite gained more than 1% as technology shares outperformed. Shares of Twitter (TWTR) soared by more than 20% after Tesla (TSLA) CEO Elon Musk disclosed he now owns an about 9.2% stake of the social media company. The Dow Jones Industrial Average joined the S&P 500 and Nasdaq in the green and shook off earlier losses.

Investors globally considered the European Union’s next punitive measures against Russia as the more than month-long war in Ukraine escalated further. The EU responded Monday to apparent war crimes in Ukraine, as Russian forces allegedly now widely killed civilians and attacked civilian infrastructure in major cities, with the bloc saying in a statement it would, “as a matter of urgency, work on further sanctions against Russia.” Some major European officials including Germany’s defense minister said they would support banning Russian natural gas — a move previously excluded from sanctions as Russia supplies about 40% of Europe’s gas energy.

U.S. crude oil prices advanced on Monday to rise for the first time in three sessions. Brent crude oil, the international standard, also gained.”

Stock market data: Yahoo Finance

Top stock losers for April 1, 2022

0

Top losers stocks today

  • Allego N.V. (ALLG): 12.32-2.80 (-18.52%)
  • Duck Creek Technologies, Inc. (DCT): 19.04-3.08 (-13.92%)
  • Forge Global Holdings, Inc. (FRGE): 29.68-4.20 (-12.40%)

Stock market data: Yahoo Finance

Top stock market gainers for April 1, 2022

0

Top gainers stocks today

  • Tellurian Inc. (TELL): 6.34+1.04 (+19.62%)
  • Polymetal International plc (AUCOY): 4.8000+0.7600 (+18.81%)
  • Lake Resources NL (LLKKF): 1.8105+0.2805 (+18.33%)

Stock market data: Yahoo Finance

Stock market news April 1, 2022

0

Stock market today

How did the US stock market close today? All major US stock indexes closed higher. Small-cap stocks outperformed.

S&P 500: 4,545.86,+15.45(+0.34%)
Dow 30: 34,818.27,+139.92(+0.40%)
Nasdaq: 14,261.50,+40.98(+0.29%)
Russell 2000: 2,091.11,+20.98(+1.01%)

Stock market news today

“U.S. stocks closed higher Friday to cap a choppy first trading day of April as investors saw a closely-watched recession indicator in the bond market briefly flash red and mulled strong labor market data out of Washington that reaffirmed expectations for more hawkish monetary tightening plans by the Federal Reserve.

The S&P 500 rebounded into the close to rise 0.3%, and the Dow Jones Industrial Average jumped 150 points after both benchmarks struggled for direction during intraday trading. The Nasdaq Composite edged 0.3% higher, to mark a third week of gains for the tech-heavy index and the S&P 500. Friday’s moves come after Wall Street capped its worst quarter since the start of 2020.

A key part of the part of the U.S. Treasury yield curve briefly inverted Friday morning. The spread, or difference, between the 2-year and 10-year Treasury note yields narrowed and inflected for the third time this week. The phenomenon has a history of predicting a recession, with each of the last eight recessions dating back to 1969 preceded by a yield curve inversion. On Friday, the yield on the 10-year U.S. Treasury bond ended the day at 2.38%, 6 basis points below the 2-year U.S. Treasury yield of 2.44%.

Investors also digested the Labor Department’s monthly jobs report, the most up-to-date snapshot of the strength in hiring across the U.S. economy. Employers added 431,000 jobs in March, below Bloomberg consensus economist estimates of a 490,000 rise in non-farm payrolls. The latest figure reflected a slowdown from February’s 678,000 gain but still marked an increase well above pre-pandemic trends and underscored the likelihood Fed policymakers will raise interest rates more aggressively in coming months than initially expected.

Meanwhile, West Texas Intermediate (WTI) crude oil fell $14 to dip below $100 per barrel in its biggest weekly dollar loss since 2011. U.S.-allied countries in the International Energy Agency (IEA) on Friday agreed to their second coordinated deployment of oil stockpiles in a month to calm Russia-Ukraine war-roiled energy markets, one day after President Biden unveiled plans for the largest ever release from the U.S. Strategic Petroleum Reserve. The U.S. is expected to deploy 1 million barrels of oil a day from its emergency supply for the next six months starting.”

Stock market data: Yahoo Finance

Stock market news March 31, 2022

0

Stock market today

How did the US stock market close today? All major US stock indexes closed lower.

S&P 500: 4,530.41,-72.04(-1.57%)
Dow 30: 34,678.35,-550.46(-1.56%)
Nasdaq: 14,220.52,-221.76(-1.54%)
Russell 2000: 2,070.32,-20.75(-0.99%)

Stock market news today

“Stocks fell Thursday to close out a turbulent quarter in the red as investors weighed a decision by President Joe Biden to carry out the largest oil release ever from the country’s strategic petroleum reserve in an effort to mitigate spiking energy prices.

The S&P 500 tumbled 1.6%, and the Dow Jones Industrial Average erased 550 points. The Nasdaq Composite declined 1.5%. The moves mark the worst quarter for stocks in two years. Oil prices extended a streak of recent swings, with WTI crude oil futures dropping 6.6% to about $100 per barrel.

President Joe Biden unveiled plans to release 1 million barrels of oil a day for the next six months from the U.S. Strategic Petroleum Reserve in the largest release ever to try to curb surging gasoline prices, the White House Said on Thursday. Energy prices have skyrocketed in recent months, particularly after Russia’s Feb. 24 invasion of Ukraine.

“Our prices are rising because of Russian President Vladimir Putin’s actions,” he said There isn’t enough supply. And the bottom line is if we want lower gas prices we need to have more oil supply right now,” Biden said.

Meanwhile, Russian forces continued attacks on Kyiv and northern Ukraine despite reports Moscow pledged to ease its military action in the areas during peace talks in Istanbul earlier this week. As of Wednesday, the number of people in Ukraine who have fled their homes to escape the invasion and seek safety reached 4 million, according to the United Nations.

Stocks have had a turbulent start to the year as a number of headwinds — geopolitical turmoil, rising inflation, supply chain imbalances, and central bank monetary tightening — roil financial markets. Still, the S&P 500 is up 11% from its lowest level of the year in early March as of Tuesday’s close and just 4% shy of notching a new all-time high after a recent comeback. Based on more than seven decades of data, the momentum is likely to continue even despite some day-to-day choppiness.”

Stock market data: Yahoo Finance

Stock market news March 30, 2022

0

Stock market today

S&P 500:4,602.45,-29.15(-0.63%)
Dow 30: 35,228.81,-65.38(-0.19%)
Nasdaq: 14,442.27,-177.36(-1.21%)
Russell 2000: 2,091.07,-42.03(-1.97%)

Stock market news today

“U.S. stocks fell after rallying earlier this week, as investors eyed developments on discussions between Russia and Ukraine and mulled mixed data on the U.S. economy.

The S&P 500 declined. The blue-chip index ended a four-day winning streak as technology shares led declines, pulling the Nasdaq Composite down by1.2%. The CBOE Volatility Index, or VIX, rose back above 20 after reaching its lowest level in more than two months on Tuesday.

U.S. crude oil prices rose for the first time in three sessions Wednesday after dipping earlier this week amid signs of progress in Russia-Ukraine talks. Russia said it was easing military action in Ukraine’s capital Kyiv and northern city Chernihiv and was prepared to set a meeting between Russian President Vladimir Putin and Ukraine’s President Volodymyr Zelenskyy following a draft peace agreement. However, as of Wednesday, some media reports suggested strikes were still taking place near both major cities in Ukraine.

Meanwhile, investors nervously eyed a flattening U.S. Treasury yield curve, with longer-duration bond yields falling much more sharply than those on the short end as traders bet on higher rates from the Federal Reserve in the near-term and mulled a murky macroeconomic outlook over the longer-term. The benchmark 10-year yield edged higher Wednesday morning and topped 2.4%.

The spread, or difference, between the 2-year and 10-year Treasury note yields — a closely watched part of the yield curve which has typically inverted ahead of recessions — narrowed to its lowest level since 2019 earlier this week. (It inverted for a few seconds on Tuesday.)

“It is still a pretty accurate indicator [of a recession] if we go back and look at history, but I have to give you a few caveats,” Kristina Hooper, Invesco chief global market strategist, told Yahoo Finance Live on Tuesday. “First of all, it needs to invert for some time, typically three months, to be a very accurate indicator. Second, it’s a longer-term indicator. So usually after the yield curve inverts, it takes about 18 months on average for a recession to occur. And it is a terrible, terrible sell signal, because typically stocks have room to run and do run significantly higher after a yield curve inverts.”

Stock market data: Yahoo Finance

Top stock losers March 25, 2022

0

Which stocks were among the top stock losers?

Malayan Banking Berhad (MLYBY): 5.27-1.42 (-21.23%)

StoneCo Ltd. (STNE): 12.30-2.05 (-14.29%)

DiDi Global Inc. (DIDI): 3.2700-0.5300 (-13.95%)

All stock quotes, stock prices are at the close of the US stock market on March 25, 2022

Stock market data: Yahoo Finance