Stocks retake losses ahead of Big Tech gains
US stocks tumbled on Tuesday, accelerating this month’s sell-off on Wall Street, as investors weighed a series of corporate reports against a backdrop of inflationary pressures and worries about an economic slowdown. The S&P 500 fell 2.8% to close the session, while the Dow Jones Industrial Average fell 800 points, paring losses after the index briefly rallied on Monday. The tech-heavy Nasdaq Composite fell nearly 4%, posting its third-biggest decline of the year and marking its lowest close since December 2020. Meanwhile, U.S. Treasury yields retreated, with the 10-year reference falling to 2.7%. “I think this will continue to be…
Read More »Why Apple shares rose 18.9% in July
What happened July shone apple (AAPL -0.14%) as its shares rose 18.9% during the month, according to data from S&P Global Market Intelligence. Shares rose as investors awaited a positive third-quarter earnings report and its streaming service, Apple TV+, took off amid awards season. And what Ahead of Apple’s Q3 2022 earnings report, three senior analysts gave the stock positive recommendations. In the second week of July, KeyBanc’s John Vinh gave the equivalent of a buy recommendation, although he lowered his price target. On July 8, bank of americaWamsi Mohan endorsed the stock, saying, “We’re getting a lot of data…
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Shares pull back as the market attempts to rebound from previous selling
U.S. stocks ended Thursday higher, led by technology stocks, as markets continued to recover from heavy losses earlier this week. [Click here to read what’s moving markets heading into Friday, April 29] The S&P 500 gained 2.5% and the Dow Jones Industrial Average rose more than 600 points, or 1.8%. The tech-heavy Nasdaq Composite climbed 3.1% to a trade high, marking its best rise since March after stronger-than-expected earnings from Facebook parent Meta (FB ) that sent shares up nearly 18%. Investors looked at new data from Washington DC that showed U.S. economic activity unexpectedly contracted in early 2022 for…
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Stocks are light in a violent turn from the previous session; Nasdaq down 5%
US stocks dipped on Thursday, paring gains after a rally on Wall Street on Wednesday, as traders continued to weigh in on the Federal Reserve’s latest monetary policy decision. The S&P 500, Dow and Nasdaq fell sharply. Tech stocks underperformed and the Nasdaq sank 5% in its worst day since June 2020. The Dow lost more than 1,000 points, or 3.1%, to end at 32,997.97 . A day earlier, the blue-chip index posted its best single-session gain since May 2020, up 2.99%. The Nasdaq Composite rose 3.2% and the Dow added more than 900 points, or 2.8%. The moves came…
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Shares end volatile session flat but post longest weekly losing streak since 2001
US stocks ended a volatile session on Friday little changed, but still posted steep weekly losses. The S&P 500 posted its longest weekly losing streak since the dot-com bubble burst, as concerns about tighter monetary policy and the economy’s resilience and corporate profits against inflation they rebounded The blue-chip index ended a choppy session up just 0.01% to settle at 3,901.36. That sent the index down 18.7% from its record close of 4,796.56 since Jan. 3, bringing the S&P 500 within striking distance of a once-defined bear market an index closes at least 20% from a recent historical closing high….
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Shares end a volatile month lower after rally loses steam
U.S. stocks capped a turbulent May lower on Tuesday after a rally late last week failed to sustain momentum. The S&P 500 fell 0.6% in a choppy session, while the Dow Jones Industrial Average lost 222 points, or 0.7%. The Nasdaq Composite fell 0.4%. [Click here to read what’s moving markets on Wednesday, June 1] The moves come after all three indexes posted weekly gains of more than 6% on Friday, snapping back from seven straight weeks of losses for the S&P 500 and Nasdaq and eight weeks of losses for the Dow. May marked another volatile month for equity…
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Stocks advance with an optimistic start to June trading
US stocks lost ground in June’s first trading session after tough comments from JPMorgan ( JPM ) chief Jamie Dimon, who warned of a “hurricane” hitting the US economy. The S&P 500 fell 0.7%, the Dow lost 0.5% and the Nasdaq fell 0.7% on Wednesday. After rallying to start the trading session, the major averages fell after strong readings on the US manufacturing sector, which were soon followed by Dimon’s comments at an investment conference. Data from the Institute for Supply Management showed that the US manufacturing sector grew faster than expected in May, another sign that fears of an…
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Shares advance for second straight day despite Target’s profit warning
U.S. stocks charged ahead to close a choppy session higher on Tuesday after investors shrugged off Target’s profit warning that weighed on broader markets in earlier trading. The S&P 500 rose about 1% and the Dow Jones Industrial Average gained 264 points, or 0.8%. The tech-heavy Nasdaq advanced about 0.9%. The indexes rose after struggling for direction for much of the day. Meanwhile, the benchmark 10-year US Treasury retreated below 3%. Goal (TGT) took center stage during morning trade after the retailer cut its guidance and said yes with the aim of reducing excess inventory offering discounts, canceling orders and…
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