Over the past several weeks, one of the biggest questions in the U.S. stock market was whether major internet and technology companies were at the end of a major multiyear rally, one that single-handedly lifted the broader market over the course of 2017. While the stocks — known by the acronym FAANG, which stands for […]
Investors pulled the most money out of U.S. stocks in February since the early days of the financial crisis. Outflows from U.S. equity mutual funds and exchange-traded funds totaled $41.3 billion in February, according to the Investment Company Institute. That’s the most by a dollar amount since a $42.8 billion outflow in January 2008. The […]
U.S. stock benchmarks closed out Friday little changed, and booked modest losses, as investors expressed muted enthusiasm following strong corporate results, even from some of the market’s biggest and most influential companies. Three large-capitalization internet and technology companies reported better-than-expected results, and while the stocks mostly gained in response, they ended well off their highs […]
U.S. stocks finished with a split decision Friday after a wobbly day of trading. Amazon led a rally among retailers, but Exxon Mobil dragged energy companies lower to end an uneven week on Wall Street. So far the first-quarter earnings season has been a strong one for U.S. companies, but it hasn’t thrilled investors. On […]
Chip stocks soared Thursday on the heels of positive earnings from Qualcomm and Advanced Micro. Some traders expect the rally to get even hotter when blue-chip behemoth Intel reports Thursday after the bell. Intel is set to report first-quarter earnings after the bell on Thursday, and the options market is implying a 5 percent move […]
Jim Chanos, founder of one of the world’s largest short selling hedge funds, went on CNBC Thursday with guns blazing about new companies whose stocks he sees going lower and an update on one of his old favorite punching bags. The president of Kynikos Associates, which literally derives its name from the Greek word for […]
Financials are historically the best performers during a period of rising rates, but as interest rates have risen this year, the big-cap financial sector has declined. Still, many analysts continue to favor them as a top pick because they believe what ails them will go away and higher rates will make a difference. The S&P […]
Spring has not been bountiful to the once-unstoppable FAANG stocks. This tech quintet until recently was the market’s engine, responsible for 4.3 percentage points of the S&P 500’s 21% return in 2017. They averaged about 50% in market gains last year, according to the Commonfund. Until recently, these high-fliers – Facebook, Apple, Amazon, Netflix and […]
Amazon’s share price closed at $1,460 today (April 25). Alphabet closed at $1,023. And shares in Booking Holdings reached $2,078 a pop. Those valuations, apparently, were too much for the world’s biggest stock exchange to handle. The New York Stock Exchange suspended trading on the floor for five Nasdaq-listed securities because of a “price scale […]
A late round of buying erased early losses on Wall Street, leaving major indexes mixed at the close of trading. Bigger companies managed to eke out modest gains, while smaller companies mostly fell. A big gain in Boeing pushed the Dow Jones industrial average higher, breaking a five-day losing streak. Late in the day, energy […]
U.S. President Donald Trump’s nominee for Wall Street regulator Comptroller of the Currency bought financial stocks until he took office in November, according to financial disclosure documents filed with the Office of Government Ethics. While not illegal, the trading activity by Joseph Otting’s money manager could violate the spirit of ethics rules designed to prevent […]
The “big bear market” for stocks that market timer Tom McClellan has been expecting appears to have begun, as Tuesday’s broad selloff turned a key technical indicator down from an already negative position to convey a “promise” of lower lows. McClellan, publisher of the McClellan Market Report, said there could be a pause in the […]
