Dow falls, snapping 6-day winning streak

The Dow Jones Industrial Average ended the day down 14.17 points at 26,048.51, erasing a gain of 185.99 points. The S&P 500 slipped less than 0.1% to 2,885.72 while the Nasdaq Composite finished just below breakeven at 7,822.57. The industrials sector was the biggest laggard in the S&P 500, dropping 0.9% as Raytheon shares declined by 5.1%. However, the S&P 500 remained around 2.4% below an intraday record. There’s a bit of an expectation the S&P 500 might be able to test those levels we saw in


The Dow Jones Industrial Average ended the day down 14.17 points at 26,048.51, erasing a gain of 185.99 points. The S&P 500 slipped less than 0.1% to 2,885.72 while the Nasdaq Composite finished just below breakeven at 7,822.57. The industrials sector was the biggest laggard in the S&P 500, dropping 0.9% as Raytheon shares declined by 5.1%. However, the S&P 500 remained around 2.4% below an intraday record. There’s a bit of an expectation the S&P 500 might be able to test those levels we saw in
Dow falls, snapping 6-day winning streak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: fred imbert
Keywords: news, cnbc, companies, negative, highs, headwind, snapping, points, sp, stocks, winning, 6day, 500, sentiment, falls, seeing, dow, streak


Dow falls, snapping 6-day winning streak

Stocks closed marginally lower on Tuesday, taking a breather after posting strong gains to start off June.

The Dow Jones Industrial Average ended the day down 14.17 points at 26,048.51, erasing a gain of 185.99 points. The S&P 500 slipped less than 0.1% to 2,885.72 while the Nasdaq Composite finished just below breakeven at 7,822.57. The industrials sector was the biggest laggard in the S&P 500, dropping 0.9% as Raytheon shares declined by 5.1%.

The Dow also snapped a six-day winning streak. However, the S&P 500 remained around 2.4% below an intraday record.

“At this point, a failure to break out to new highs would be viewed as negative. The month is only a week and a half old, but we’ve got a head of steam now. We’re seeing evidence of more individual stocks in the S&P 500 making new highs. There’s a bit of an expectation the S&P 500 might be able to test those levels we saw in April,” said Willie Delwiche, investment strategist at Baird.

“The potential headwind to that is what happens with sentiment. Sentiment turned so negative in May and now, as stock rebound in June, we’re seeing pessimism being replaced with optimism. If it comes in too fast, that can shift from being a tailwind for stocks to a headwind,” Delwiche said.


Company: cnbc, Activity: cnbc, Date: 2019-06-11  Authors: fred imbert
Keywords: news, cnbc, companies, negative, highs, headwind, snapping, points, sp, stocks, winning, 6day, 500, sentiment, falls, seeing, dow, streak


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Treasury yields edge lower as Wall Street rally fades

U.S. government debt prices rose Thursday morning, as risk-on sentiment faded on Wall Street after two sessions of strong gains. At around 2:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.1139%, while the yield on the 30-year Treasury bond was lower at 2.6274%.


U.S. government debt prices rose Thursday morning, as risk-on sentiment faded on Wall Street after two sessions of strong gains. At around 2:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.1139%, while the yield on the 30-year Treasury bond was lower at 2.6274%.
Treasury yields edge lower as Wall Street rally fades Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: matt clinch
Keywords: news, cnbc, companies, strong, treasury, wall, street, sentiment, yield, lower, sessions, rally, yields, edge, fades, rose, riskon


Treasury yields edge lower as Wall Street rally fades

U.S. government debt prices rose Thursday morning, as risk-on sentiment faded on Wall Street after two sessions of strong gains.

At around 2:00 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 2.1139%, while the yield on the 30-year Treasury bond was lower at 2.6274%.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: matt clinch
Keywords: news, cnbc, companies, strong, treasury, wall, street, sentiment, yield, lower, sessions, rally, yields, edge, fades, rose, riskon


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Farmer sentiment hits its lowest level since before Trump’s election as the China trade war drags on

Farmer sentiment plunged in May to its lowest level in nearly three years as the trade war with China escalated and concerns about economic conditions grew, according to a survey released Tuesday. Corn and soybean planting paces are the slowest on record since the mid-1990s, according to the U.S. Department of Agriculture. Soybean farmers have been among the hardest hit in the China trade war in terms of dollar value. Before the trade war, China bought roughly half of the U.S. soybean exports. B


Farmer sentiment plunged in May to its lowest level in nearly three years as the trade war with China escalated and concerns about economic conditions grew, according to a survey released Tuesday. Corn and soybean planting paces are the slowest on record since the mid-1990s, according to the U.S. Department of Agriculture. Soybean farmers have been among the hardest hit in the China trade war in terms of dollar value. Before the trade war, China bought roughly half of the U.S. soybean exports. B
Farmer sentiment hits its lowest level since before Trump’s election as the China trade war drags on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: jeff daniels
Keywords: news, cnbc, companies, lowest, agricultural, farmer, soybean, mintert, level, sentiment, hits, planting, economy, war, trumps, producers, drags, election, survey, trade, china


Farmer sentiment hits its lowest level since before Trump's election as the China trade war drags on

“Ag producers are telling us the agricultural economy weakened considerably this spring as the barometer has fallen 42 points (29%) since the start of this year,” said James Mintert, director of Purdue’s Center for Commercial Agriculture and the barometer’s principal investigator.

May’s Purdue University/CME Group Ag Economy Barometer declined 14 points from the prior month to a reading of 101, which is the lowest point since October 2016. It said the sentiment index is now at levels that have erased all gains recorded following President Donald Trump ‘s election.

Farmer sentiment plunged in May to its lowest level in nearly three years as the trade war with China escalated and concerns about economic conditions grew, according to a survey released Tuesday.

Farmers have been facing one of the wettest spring seasons in decades as a result of heavy rains and flooding in large sections of the Midwest and Eastern Plains region. Corn and soybean planting paces are the slowest on record since the mid-1990s, according to the U.S. Department of Agriculture.

The later planting means the crops are considered more susceptible to risk of injury and lower yields from summer heat and early fall frost damage. Also, some producers may switch to shorter season varieties of corn and soybeans, but that also comes at the risk of lower-yielding crops.

“Farmers are facing tough decisions in the midst of a wet planting season and a lot of uncertainty surrounding trade discussions,” Mintert said.

Soybean farmers have been among the hardest hit in the China trade war in terms of dollar value. Last year, China put retaliatory tariffs in place on a variety of U.S. agricultural and food products, from soybeans, corn and wheat to dairy and certain meat products.

Before the trade war, China bought roughly half of the U.S. soybean exports. But the value of soybean exports to China fell 74% to $3.1 billion in 2018 from about $12.2 billion the previous year, according to the USDA.

In addition, the U.S.-China trade fight has affected the Chinese buying of two corn-based products, U.S. dried distillers grains and ethanol.

On Monday, the Trump administration issued a statement accusing China of pursuing a “blame game” and “misrepresenting the nature and history of trade negotiations between the two countries.” It followed Beijing officials on Sunday accusing the U.S. of being responsible for the lack of progress in talks.

The Purdue ag barometer, a monthly survey of the health of the U.S. farm economy, is based on a poll of 400 U.S. agricultural products.

The May survey found only 20% of the respondents expected the trade dispute with China to be resolved by July 1. By comparison, 28% of those asked in April expected the resolution of the trade war by July 1 and 45% of those asked in March, when the question was first posed.

Even so, 65% of farmers polled in May remained confident the trade dispute will have a positive impact for American agriculture. That number stood at 77% in March and 71% in April.

“At this time, a majority of producers still expect a favorable outcome for agriculture to the trade dispute,” Mintert said. “But that majority appears to be shrinking.”

WATCH: Flooding disrupts midwest agricultural supply chain


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: jeff daniels
Keywords: news, cnbc, companies, lowest, agricultural, farmer, soybean, mintert, level, sentiment, hits, planting, economy, war, trumps, producers, drags, election, survey, trade, china


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A full breakdown of where the stock market stands today and whether the tariff pain is priced in

This is not to minimize the damage to the market or underplay its precarious condition. The nearly 7% drop in the S&P 500 since its April 30 high has been swift, even if it is well within the band of a routine pullback after a strong four-month rally. Over the past two weeks, on average close to 10% of S&P 500 stocks a day made a new 52-week low. And this selling squall is striking the market at a consequential point, the benchmark in a disputed zone between continuing uptrend and breakdown. Ear


This is not to minimize the damage to the market or underplay its precarious condition. The nearly 7% drop in the S&P 500 since its April 30 high has been swift, even if it is well within the band of a routine pullback after a strong four-month rally. Over the past two weeks, on average close to 10% of S&P 500 stocks a day made a new 52-week low. And this selling squall is striking the market at a consequential point, the benchmark in a disputed zone between continuing uptrend and breakdown. Ear
A full breakdown of where the stock market stands today and whether the tariff pain is priced in Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: michael santoli
Keywords: news, cnbc, companies, stands, stock, 500, point, selling, market, stocks, pain, tariff, breakdown, sp, trade, today, sentiment, bonds, months, priced


A full breakdown of where the stock market stands today and whether the tariff pain is priced in

The bad news: The opening of a second trade-war front along the U.S.-Mexico border last week dialed up fear of global economic stagnation and peaking corporate profits, further pressuring stocks and prompting an urgent rush into Treasury bonds. The good news: The surprise tariff threat on Mexico pushed Wall Street toward extremes of pessimism and risk aversion that will probably require new and scarier headlines to generate much further selling in the short term. In other words, to bet big on stocks here is to be a bad news bull: acknowledging that the economy and policy landscape have become tougher, but determining that stocks and bonds have sunk deep enough into a defensive crouch to price in most of it. Or at least that such a point is approaching. This is not to minimize the damage to the market or underplay its precarious condition. The nearly 7% drop in the S&P 500 since its April 30 high has been swift, even if it is well within the band of a routine pullback after a strong four-month rally. But the index performance somewhat masks the deterioration underneath. Close to one-fifth of all stocks are below their December lows, even though the S&P is up more than 15% since then. Over the past two weeks, on average close to 10% of S&P 500 stocks a day made a new 52-week low. And this selling squall is striking the market at a consequential point, the benchmark in a disputed zone between continuing uptrend and breakdown.

Multipeak top?

Not only has the S&P 500 slipped below its 200-day average — itself not much of a predictive event — but it has made no net progress for about 17 months, with some seeing a foreboding multipeak topping formation. The market was showing signs last week of finding its footing, perhaps as investors made their peace with the ongoing U.S.-China trade stalemate. Then came the Mexico news — which pushed markets further in the direction they were leaning: raising probabilities of recession, aggressively pricing in a Federal Reserve rate cut or two in coming months and curtailing risky bets in credit and equities. At this point, the story moves beyond the details of the trade tussles: After all, what beyond what has been imposed and threatened in these conflicts could further jar Wall Street in the immediate term? Now it’s about how much more significantly profit forecasts might have to be trimmed, whether the Fed will move in the direction markets have set out for it, and whether sentiment is yet plumbing extremes of negativity that can mean the selling of stocks is running its course. And, most crucial of all, whether trade frictions can be the decisive force that ends the economic expansion at its 10th anniversary.

‘Panic and capitulation’

“A reset of earnings expectations could help the equity market find a bottom, even without a final China trade deal, but that reset isn’t likely to happen until the next reporting season (mid July to mid August),” RBC Capital strategist Lori Calvasina said. “This waiting game, in the context of crowded conditions and expensive valuations in US equities, makes a 10% retracement (peak to trough) more likely.” Tim Hayes, chief global investment strategist at Ned Davis Research, said: “The markets have been warning to an increasing extent that the ongoing trade war will perpetuate the global slowdown with an increasingly negative impact on U.S. growth, as excessive complacency has been replaced by increasing pessimism and doubt about the justification for current earnings multiples.” He figures this process will culminate in a good opportunity to recommit to stocks in the second half of this year — but not until further signs of “panic and capitulation” arise, and some sort of policy response is in sight. Panic and capitulation are conditions identifiable only in rough terms and rarely with much precision or deft timing. But it’s becoming possible that sentiment has soured enough to allow for bounces before too long on little more than an absence of further ugly headlines. Here’s the S&P 500 plotted by MacroCharts against the difference between bullish readings on stocks and Treasurys in www.trading-futures.com’s widely followed Daily Sentiment Index of futures traders. This gap is on the verge of an extreme that’s coincided with decent trading lows since 2007, implying the massive outperformance of stocks versus bonds is growing spring-loaded for a reversal. Earnings forecasts have stagnated, which means the S&P 500 is only a bit cheaper than it was eight months ago at the September market high. But the collapse in bond yields has begun to flatten equity valuations.

Stocks vs. bonds


Company: cnbc, Activity: cnbc, Date: 2019-06-03  Authors: michael santoli
Keywords: news, cnbc, companies, stands, stock, 500, point, selling, market, stocks, pain, tariff, breakdown, sp, trade, today, sentiment, bonds, months, priced


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Early Uber investor Bill Gurley on Silicon Valley’s shifting sentiment about IPOs

07:03 | 11:13 AM ET Wed, 8 May 2019


07:03 | 11:13 AM ET Wed, 8 May 2019
Early Uber investor Bill Gurley on Silicon Valley’s shifting sentiment about IPOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, sentiment, valleys, 1113, bill, shifting, silicon, gurley, 0703, ipos, early, et, 2019, investor, uber


Early Uber investor Bill Gurley on Silicon Valley's shifting sentiment about IPOs

07:03 | 11:13 AM ET Wed, 8 May 2019


Company: cnbc, Activity: cnbc, Date: 2019-05-22
Keywords: news, cnbc, companies, sentiment, valleys, 1113, bill, shifting, silicon, gurley, 0703, ipos, early, et, 2019, investor, uber


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US consumer sentiment surges to highest level in 15 years

Consumer sentiment rocketed to its highest level in 15 years in early May as Americans grew more upbeat on the health of the economy and its path in 2019, according to data released Friday. The University of Michigan’s preliminary print on its consumer sentiment index rose to 102.4, up from 97.2 in April and well ahead of economist expectations of 97.5. “To be sure, negative references to tariffs rose in the past week and are likely to rise further in late May and June.” Aggravated trade tension


Consumer sentiment rocketed to its highest level in 15 years in early May as Americans grew more upbeat on the health of the economy and its path in 2019, according to data released Friday. The University of Michigan’s preliminary print on its consumer sentiment index rose to 102.4, up from 97.2 in April and well ahead of economist expectations of 97.5. “To be sure, negative references to tariffs rose in the past week and are likely to rise further in late May and June.” Aggravated trade tension
US consumer sentiment surges to highest level in 15 years Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: thomas franck, fred imbert
Keywords: news, cnbc, companies, level, 15, rose, worth, consumer, highest, curtin, data, sentiment, week, spending, tariffs, surges, trade


US consumer sentiment surges to highest level in 15 years

Consumer sentiment rocketed to its highest level in 15 years in early May as Americans grew more upbeat on the health of the economy and its path in 2019, according to data released Friday.

The University of Michigan’s preliminary print on its consumer sentiment index rose to 102.4, up from 97.2 in April and well ahead of economist expectations of 97.5.

“Consumers viewed prospects for the overall economy much more favorably, with the economic outlook for the near and longer term reaching their highest levels since 2004,” said Richard Curtin, chief economist for the Surveys of Consumers. “To be sure, negative references to tariffs rose in the past week and are likely to rise further in late May and June.”

The optimistic consumer outlook was mostly recorded before U.S.-China trade deliberations soured earlier this month.

Last week, the Trump administration raised tariffs to 25% from 10% on $200 billion worth of Chinese goods in response to Beijing’s attempts to renegotiate a trade agreement between the world’s two largest economies. China then responded in kind, bumping taxes on $60 billion worth of U.S. goods in retaliation.

Aggravated trade tensions between the U.S. and China could dampen consumer sentiment going forward, Curtin said, and will likely weigh on subsequent reports in May and June.

“Even apart from the direct impact of tariffs on prices, rising tariffs could cause a more general loss of confidence which could further diminish the pace of consumer spending,” Curtin wrote. “At present, the data point toward moderate spending growth in the year ahead. Nonetheless, the data indicate the corrosive impact of an escalating trade war.”


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: thomas franck, fred imbert
Keywords: news, cnbc, companies, level, 15, rose, worth, consumer, highest, curtin, data, sentiment, week, spending, tariffs, surges, trade


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The stock market fears more trade retaliation from China is coming next week

In fact, they drifted lower toward the close on word that trade negotiations with China were in flux. With the S&P mostly flat for the week, trade related names were far and away the worst performers — Caterpillar, Apple, 3M, and Intel all down 2 to 6%. “China is still out there, and the market knows that is a tough nut, and traders want assurances that no new tariffs are coming on.” It could come in the form of regulatory harassment of U.S. corporations operating in China, but it could be even


In fact, they drifted lower toward the close on word that trade negotiations with China were in flux. With the S&P mostly flat for the week, trade related names were far and away the worst performers — Caterpillar, Apple, 3M, and Intel all down 2 to 6%. “China is still out there, and the market knows that is a tough nut, and traders want assurances that no new tariffs are coming on.” It could come in the form of regulatory harassment of U.S. corporations operating in China, but it could be even
The stock market fears more trade retaliation from China is coming next week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: bob pisani
Keywords: news, cnbc, companies, retaliatory, market, sentiment, stock, fears, china, chinese, trade, coming, form, business, tariffs, week, trump, retaliation


The stock market fears more trade retaliation from China is coming next week

Chinese President Xi Jinping and U.S. President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017.

On Friday, we had positive news on trade related to delaying tariffs on European auto imports and eliminating steel and aluminum tariffs for Mexico and Canada. All good news — but a funny thing happened: the markets didn’t move much. In fact, they drifted lower toward the close on word that trade negotiations with China were in flux.

With the S&P mostly flat for the week, trade related names were far and away the worst performers — Caterpillar, Apple, 3M, and Intel all down 2 to 6%.

Caterpillar down 6.3%

Apple down 4.3%

MMM down 3.9%

Intel down 2.9%

“After all these trade disappointments it’s getting to be a tougher sell,” Alec Young, Managing Director, Global Markets Research at FTSE Russell. “China is still out there, and the market knows that is a tough nut, and traders want assurances that no new tariffs are coming on.”

What’s going on?

Traders are concerned there is another shoe to drop: more retaliatory measures from China, which may or may not come in the form of tariffs. Chinese media outlets have been warning all week they are coming.

What other form would retaliation take? It wouldn’t be hard to imagine. China has already cancelled a large pork order. It could come in the form of regulatory harassment of U.S. corporations operating in China, but it could be even simpler.

Jim Kelleher at Argus tells his clients to watch for sudden announcement of loss of business: “We would be careful to monitor investments in U.S. ‘champion’ names such as Boeing and Caterpillar. Should the trade environment between the U.S. and China deteriorate further, Chinese officials could directly or indirectly discourage Chinese companies and consumers from doing business with high-profile symbols of U.S. corporate might.”

Kelleher also warns against simply using a dollars and cents approach to trade: “Trade can be about more than dollar amounts. Business is a delicate mix of activity and sentiment; deterioration in sentiment can have an outsized effect on activity. Moreover, global supply chains have become complicated and entangled among nations. Counting the dollar value of car parts, for example, does not capture how those delayed or absent parts may impact the production of an entire vehicle.”

President Trump, presumably, is well aware of this, but Chris Krueger at Cowen notes that his efforts to shield farmers from the pain felt by retaliatory tariffs may be skewing his thinking: “The most important takeaway (from our perspective) is that anything that insulates Trump’s base from the near term costs of his actions raises the likelihood we continue on the tariff path.”


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: bob pisani
Keywords: news, cnbc, companies, retaliatory, market, sentiment, stock, fears, china, chinese, trade, coming, form, business, tariffs, week, trump, retaliation


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Gold firms as Sino-US trade spat dents risk sentiment

Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal. U.S. gold futures settled $1.80 higher at $1,285.60. “There has been uncertainty in the market since yesterday, which has given gold a push higher.” “Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but th


Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal. U.S. gold futures settled $1.80 higher at $1,285.60. “There has been uncertainty in the market since yesterday, which has given gold a push higher.” “Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but th
Gold firms as Sino-US trade spat dents risk sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, trade, risk, firms, trump, trumps, higher, dents, market, prices, gold, yesterday, spat, sentiment, sinous, states, united


Gold firms as Sino-US trade spat dents risk sentiment

Gold prices edged higher on Tuesday as investors moved away from riskier assets after U.S. President Donald Trump threatened to raise tariffs on Chinese imports, heightening trade tensions and lifting demand for the safe-haven metal.

Spot gold was up 0.1 percent at $1,281.04 an ounce.

U.S. gold futures settled $1.80 higher at $1,285.60.

“Donald Trump tweets over the weekend and reactions out of China has sent shockwaves. European equities are further down this morning and this is a situation where gold is seen as a safe-haven,” said Quantitative Commodity Research analyst Peter Fertig.

“There has been uncertainty in the market since yesterday, which has given gold a push higher.”

U.S. President Donald Trump said that tariffs on $200 billion worth of Chinese goods would increase to 25 percent from 10 percent on Friday, reversing a decision he made in February to keep them at 10 percent as the two sides made progress on trade talks.

Trump’s tariff threat weighed across equity markets around the world, in turn supporting gold, which is used by investors to hedge against economic and political instability.

“There are significant catalysts for gold with the escalations on the trade-war front yesterday, but it is surprising we have not seen a significant follow through,” said Stephen Innes, head of trading and market strategy at SPI Asset Management.

Adding to the sentiment, Trump’s national security adviser John Bolton on Sunday said that the United States was deploying a carrier strike group and a bomber task force to the Middle East to send a clear message to Iran.

“Some are also focusing on the tensions in the Middle East and the two catalysts are sufficient to hold prices but there is a general reluctance to push prices higher over $1,285,” Innes added.

A faction of the market still expects the United States and China to find common ground and believes that Trump’s tariff threat is likely to be a negotiation tactic.

China’s commerce ministry confirmed on Tuesday that Vice Premier Liu He will visit the United States over May 9-10 for bilateral trade talks at the invitation of senior U.S. officials.

Meanwhile, holdings of SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, continued a dismal run as it fell by 0.16 percent to 739.64 tonnes on Monday, its lowest since Oct. 11.

Among other metals, silver was down 0.4 percent at $14.84 an ounce, platinum was little changed at $872.44 and palladium gained 0.2 percent to $1,339.32.


Company: cnbc, Activity: cnbc, Date: 2019-05-07
Keywords: news, cnbc, companies, trade, risk, firms, trump, trumps, higher, dents, market, prices, gold, yesterday, spat, sentiment, sinous, states, united


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The S&P just did something it hasn’t done in three decades

The S&P 500 is having its best start to the year in 32 years. On top of that, it has rallied nearly 18% in the past four months, its best monthly streak since December 2010. The S&P climbed to an intraday record of 2,949.52 on Monday — its first record intraday high since September. On Tuesday, the index finished at a record closing high, although it was trading about 4 points from that all-time high level. “We’ve been looking at the financials and they’ve had a really great month so far and I t


The S&P 500 is having its best start to the year in 32 years. On top of that, it has rallied nearly 18% in the past four months, its best monthly streak since December 2010. The S&P climbed to an intraday record of 2,949.52 on Monday — its first record intraday high since September. On Tuesday, the index finished at a record closing high, although it was trading about 4 points from that all-time high level. “We’ve been looking at the financials and they’ve had a really great month so far and I t
The S&P just did something it hasn’t done in three decades Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: pippa stevens
Keywords: news, cnbc, companies, decades, think, sp, record, high, financials, sentiment, argues, market, breakout, stocks


The S&P just did something it hasn't done in three decades

The stock market is red hot right now.

The S&P 500 is having its best start to the year in 32 years. On top of that, it has rallied nearly 18% in the past four months, its best monthly streak since December 2010.

One strategist says that even as stocks reach for new highs in the near term, the rally might not be on solid footing further out.

“If we see the breakout above that September high, which was right around 2,941 — if that breakout is confirmed meaning we spend more than just a week above it, then we should see long term follow through on the back of that breakout,” Fairlead Strategies’ Katie Stockton said Tuesday on CNBC’s “Trading Nation” segment.

The S&P climbed to an intraday record of 2,949.52 on Monday — its first record intraday high since September. On Tuesday, the index finished at a record closing high, although it was trading about 4 points from that all-time high level.

Stockton argues that once the index can meaningfully hold above the 2,940 level, which was previously overhead resistance, such a breakout could foster additional momentum.

“Breakouts in general do tend to generate some momentum. Obviously the market already has some of that. And I do think with a breakout you get a little bit of a sentiment boost that then manifests itself in expanding breadth, so we should see participation expand with a breakout in the S&P 500, and that could occur to the benefit of the Russell 2000,” she said. The Russell, which tracks small-cap companies, has underperformed over the last year, gaining just 3% compared with the S&P’s 11% rise.

While Stockton thinks stocks have a little more upward momentum here, she also noted that a peak in investor sentiment — meaning the overall bullish attitude toward the market — may lead to a pullback in June.

“Sentiment really is the biggest headwind,” she said. “We have one measure that did reach an overbought territory, or overly bullish territory. We do look at these sentiment measures from a contrarian perspective. When they peak in that range, it tends to take several weeks for a pullback to develop in the major indices that’s significant, so that would put us out to early June. And I think that seems fair based on what’s going in in absolute terms.”

As stocks hover around record highs, Chantico Global’s Gina Sanchez argues that while “much better-than-expected earnings” will support “continued outperformance for the rest of the year,” investors should focus on specific areas rather than buying the market as a whole. Specifically, she prefers value to growth names, and she believes financials will outperform in the months to come.

“The market itself is changing tone. You’re starting to see more defensive. Value is actually starting to perform again. We’re seeing defensives sectors like utilities, staples, they’ve been performing,” she said. “We’ve been looking at the financials and they’ve had a really great month so far and I think that’s going to continue.”

The financial sector was the top-performing sector last month after gaining almost 9%. Sanchez argues that the Federal Reserve’s pause in interest rate hikes, as well as a “very strong IPO market” will “finally” lead to a “good year for the financials.”


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: pippa stevens
Keywords: news, cnbc, companies, decades, think, sp, record, high, financials, sentiment, argues, market, breakout, stocks


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Gold edges up as weak Chinese data dampens risk sentiment

Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite. Spot gold rose 0.4% to $1,285 per ounce. “The weaker Chinese PMI is a supportive element and aiding gold. “(I) don’t see much room for decline in prices from here and only the strength of the U.S. dollar can hurt gold.” The Fed is expected to leave interest rates unchanged as it seeks to balance robust economic growth against low infl


Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite. Spot gold rose 0.4% to $1,285 per ounce. “The weaker Chinese PMI is a supportive element and aiding gold. “(I) don’t see much room for decline in prices from here and only the strength of the U.S. dollar can hurt gold.” The Fed is expected to leave interest rates unchanged as it seeks to balance robust economic growth against low infl
Gold edges up as weak Chinese data dampens risk sentiment Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, risk, data, dollar, rose, edges, ounce, weak, gold, rates, dampens, remains, metal, interest, weaker, sentiment, chinese


Gold edges up as weak Chinese data dampens risk sentiment

Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite.

Spot gold rose 0.4% to $1,285 per ounce. U.S. gold futures settled $4.20 higher at $1,285.70.

“The weaker Chinese PMI is a supportive element and aiding gold. Also, from a technical point of view, we have seen a rebound from $1,280, which is a good support level,” said Carlo Alberto De Casa, chief analyst with ActivTrades, adding that a weaker dollar was also helping gold.

“(I) don’t see much room for decline in prices from here and only the strength of the U.S. dollar can hurt gold.”

European equity markets nudged down on Tuesday, following weaker Asian stock markets as the latest Chinese data pointed to some fragility in the world’s second-largest economy despite Beijing’s attempts to spur growth.

Gold is generally used by investors as a safe-haven investment in times of economic and political concerns.

Investors now look to the U.S. Federal Reserve’s two-day policy meeting starting later in the day for clues on the interest rate outlook.

The Fed is expected to leave interest rates unchanged as it seeks to balance robust economic growth against low inflation.

Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.

While the Fed’s decision will boost bullion’s appeal, the metal is yet to overcome bearish factors, and any rallies may be short-lived, traders and analysts said.

“The yellow metal remains toppish toward $1,290 and is likely to continue to see bears weigh upon rallies over the near-term as the recent downtrend remains intact,” MKS PAMP Group said in a note.

“Downside targets through to $1,275-$1,270 remain in play over the near term as the metal sees muted physical interest out of Asia this week due to both Chinese and Japanese festivities.”

Elsewhere, silver gained 0.6 percent to $14.99 per ounce, while platinum rose 0.5 percent to $899.

Palladium, on the other hand, fell 0.4 percent to $1,365.50 an ounce, after touching its lowest in nearly two weeks at $1,354. The metal slumped over 7 percent on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-04-30
Keywords: news, cnbc, companies, risk, data, dollar, rose, edges, ounce, weak, gold, rates, dampens, remains, metal, interest, weaker, sentiment, chinese


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