Micron Slumps, AT&T Rises as Dow Targets Another New High

By Ben Levisohn Sept. 21, 2018 9:25 a.m. ET

Heating Up. Friday’s picking up where Thursday left off. Stocks were heading higher, and September, which is supposed to be the worst month of the year, has instead seen the Dow Jones Industrial Average hit a new all-time high. Micron Technology was falling after releasing earnings, while AT&T was gaining after an upgrade. In today’s Morning Movers, we…

Photo: Siddharth Parmar

•…look at market strength overseas;

•…wonder if the Dow’s new highs can boost confidence;

•…and highlight Pier 1 Imports’ big drop.

Feeling the Fever

This is certainly looking more and more like a melt up, even if it’s taking place in slow motion.

After hitting new highs yesterday, the S&P 500and the Dow Jones Industrial Averagelook set to do it again. S&P 500 futures have advanced 0.1%, while Dow Jones Industrial Average futures have gained 55 points, or 0.2%. Nasdaq Compositefutures have risen 0.2%.

“The week is closing off with risk-on sentiment in a feverish more,” writes Gluskin Sheff’s David Rosenberg. And for once, it isn’t just the U.S. that’s rallying. China’s Shanghai Compositerose 2.5% today, and the Euro Stoxx 50has risen 0.5%. Rosenberg attributes the fervor to China’s plan to cut taxes to boost consumer spending.

The Dow, however, has been rallying like few others. It’s up 2.7% in September, a month that is supposed to be terrible for stocks (and has been for the Nasdaq, which has dropped 1%). The blue-chip benchmark has advanced 7.8% this year, which still lags behind the Nasdaq’s 16% gain,

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Wall Street abre con ganancias y el Dow Jones sube un 0,18 %

Wall Street abre con ganancias y el Dow Jones sube un 0,18 %

Sep 21, 2018 (Agencia EFE via COMTEX) —

Nueva York, 21 sep (EFE).- Wall Street abrió hoy con ganancias y el Dow Jones de Industriales, su principal indicador, subía un 0,18 %, en una sesión marcada nuevamente por el optimismo corporativo pero a la vez con cierta preocupación por la concentración del crecimiento en el mercado tecnológico.

Media hora después de la apertura, el principal indicador sumaba 47,45 puntos, hasta 26.704,43 enteros, mientras el indicador S&P 500 ascendía un 0,27 % o 7,94 puntos, hasta los 2.938,69.

El índice compuesto del mercado Nasdaq, donde cotizan los grupos tecnológicos màs importantes, también iba al alza en un 0,19 % o 15,64 puntos, hasta 8.043,88 enteros.

La gran mayoría de sectores presentaba hoy ganancias y destacaban los de telecomunicaciones (1,40 %), seguido del energético (0,67 %) y del industrial (0,49%).

Por contra, los dos únicos sectores que retrocedían era el financiero (0,05 %) y el de empresas públicas (-0,21 %).

Después de los últimos récords del Dow Jones y otros indicadores, los analistas de Wall Street creen que uno de los mayores problemas del mercado bursàtil es que un puñado de tecnológicas continúan engullendo màs mercado.

Las acciones de tecnológicas han crecido hasta aproximadamente el 26 % del S&P 500, un nivel que preocupa a muchos inversores. Apple, Microsoft y Amazon han consumido 4 puntos porcentuales de un mercado de acciones con màs de 20.000 millones de dólares en menos de tres años.

Facebook, Amazon, Apple, Microsoft y Alphabet representan una ponderación del mercado del S&P 500 que es mayor que el sector de servicios de salud o financiero, una concentración que preocupa a los inversores.

Muchos estrategas de mercado dicen que la reorganización pendiente de las

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Wall Street abre con ganancias y el Dow Jones sube un 0,28 %

Wall Street abre con ganancias y el Dow Jones sube un 0,28 %

Sep 21, 2018 (Agencia EFE via COMTEX) —

Nueva York, 21 sep (EFE).- Wall Street abrió hoy con ganancias y el Dow Jones de Industriales, su principal indicador, ascendía un 0,28 % minutos después del comienzo de la sesión, el selectivo S&P 500 subía un 0,29 % y el índice compuesto del mercado Nasdaq también iba al alza en un 0,25 %. EFE

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Dow Jones beats all-time high

Trader Frank Masiello works on the floor of the New York Stock Exchange, Thursday, when a wave of buying sent U.S. stocks solidly higher, pushing the Dow Jones Industrial Average above the all-time high it hit in January. (AP)

Wall Street delivered another set of milestones Thursday as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it hit in January.

The S&P 500, the benchmark for many index funds, also hit a new high, eclipsing the peak it reached last month.

Technology stocks, banks and health care companies accounted for much of the broad rally. Energy companies declined along with crude oil prices.

A weaker dollar, which helps U.S. exporters, and a mix of mostly encouraging economic reports helped put investors in a buying mood, a turnaround from earlier in the week when the U.S. and China each announced a new round of tariffs on each other’s goods, triggering a sell-off.

“Some of the economic data that came out today continued to show strength,” said Lindsey Bell, an investment strategist with CFRA. “Given the strength in the economy, backed by the stimulus from tax reform as well as just fiscal stimulus in general, that should be able to offset some of the impact that we’re going to get from tariffs as we go into the end of the year.”

The S&P 500 index rose 22.80 points, or 0.8 percent, to 2,930.75. The Dow gained 251.22 points, or 1 percent, to 26,656.98. The Nasdaq composite climbed 78.19 points, or 1 percent, to 8,028.23. The Russell 2000 index of smaller companies picked up 17.25 points, or 1 percent, to 1,720.18.

The road to the latest records was hardly smooth. Shortly after the Dow’s all-time high in January, the market plunged in February

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Dow Sets 100th Record Close Since Trump Was Elected

The Dow Jones Industrial Average hit an all-time high Thursday, the 100th such time since Trump was elected in November 2016.

The Dow closed at 26,656.98 after jumping 251.22 points, a .95 percent increase, before closing. The S&P 500 also hit a record-breaking mark, gaining 22.8 points throughout the day to close at 2,930.75, Fox Business reports. (RELATED: US Economy Adds 201,000 Jobs In August, Outpaces Expectations)

The Dow’s Thursday record is the first all-time high the stock index hit since January.

American consumers’ confidence in the economy seems to be hitting a historic high, as well. The Bloomberg Consumer Comfort Index leapt to a 17-year high earlier in September.

The Bloomberg index measures Americans’ views of the economy, personal finances and their confidence in investing in big-ticket items, such as cars and houses.

The records reflect overall strength in the stock market despite tariff threats and retaliations in ongoing U.S. and China trade negotiations. The Trump administration plans to impose an additional $200 billion worth of tariffs on China Sept. 24.

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Dow, S&P 500 records belie festering fear that China and the U.S. ‘are on a collision course’

Is Wall Street ignoring the potential for simmering trade conflicts with China to intensify, upending the stock market’s newfound buoyancy?

It may be hard to fathom that consternation tied to President Donald Trump’s hard-line stance with China, Europe and other major economies may bubble up into something more severe for investors after the Dow Jones Industrial Average DJIA, +0.95% on Thursday booked its first record since Jan. 26, joining the S&P 500 index SPX, +0.78% and the Nasdaq Composite Index COMP, +0.98% both of which had already broken out of a lengthy downturn to notch their own voyage into record territory (as recently as Thursday for the S&P 500).

Although on some level the stock market’s climb to new heights represents a growing conviction about the U.S. economy, outweighing the threat that a Beijing-Washington trade fight could morph into the sort of a bellicosity that could severely disrupt global economic vitality, on another level a number of investors can’t shake a sense of unease about the current trajectory of tariff tensions.

Dec Mullarkey, managing director of investment strategy at Sun Life Investment Management, which manages some $47 billion, thinks the market is being too dismissive.

“I do think that the market right now is incredibly complacent,” Mullarkey said.

“I think both countries are on a collision course and that’s not going to get resolved quickly and I think we’re heading toward all China imports getting hit with tariffs,” he said.

The fact that the recent run-up in stocks comes just as tensions appeared to be ratcheting up earlier in the week hasn’t sat well with some market participants either.

On Tuesday, the Chinese government announced plans to impose new tariffs on $60 billion in U.S. exports, in retaliation to the Trump’s administration’s announcement that it was following through with an

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Dow, S&P hit record highs

Wall Street delivered another set of milestones Thursday as a wave of buying sent U.S. stocks solidly higher, driving the Dow Jones Industrial Average above the all-time high it closed at in January.

The S&P 500, the benchmark for many index funds, also hit a new high, eclipsing the peak it reached last month.

Technology stocks, banks and health care companies accounted for much of the broad rally. Energy companies declined along with crude oil prices.

A weaker dollar, which helps U.S. exporters, and a mix of mostly encouraging economic reports helped put investors in a buying mood, a turnaround from earlier in the week when the U.S. and China each announced a new round of tariffs on each other’s goods, triggering a sell-off.

“Some of the economic data that came out today continued to show strength,” said Lindsey Bell, an investment strategist with CFRA. “Given the strength in the economy, backed by the stimulus from tax reform as well as just fiscal stimulus in general, that should be able to offset some of the impact that we’re going to get from tariffs as we go into the end of the year.”

The S&P 500 index rose 22.80 points, or 0.8 percent, to 2,930.75. The Dow gained 251.22 points, or 1 percent, to 26,656.98. The Nasdaq composite climbed 78.19 points, or 1 percent, to 8,028.23. The Russell 2000 index of smaller companies picked up 17.25 points, or 1 percent, to 1,720.18.

The Dow, S&P 500 and Nasdaq are on track to end the week with a gain. The Dow and S&P 500 were on course to set record highs from the get-go Thursday as investors pored through a batch of economic data.

The Labor Department’s weekly tally of applications for unemployment aid was lower than expected, with claims slipping last

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United States : US: Dow, S&P 500 open at records despite lingering trade tensions

United States : US: Dow, S&P 500 open at records despite lingering trade tensions

Sep 20, 2018 (Euclid Infotech Ltd via COMTEX) —

The Dow and S&P 500 opened at fresh records on Thursday as investors brushed aside lingering trade conflicts amid signs of solid US economic growth.

About seven minutes into trading, the Dow Jones Industrial Average was at 26,643.22, up 0.9 per cent and topping the prior record set in January.

The broad-based S&P 500 was at 2,923.03, up 0.5 per cent from Wednesday’s close and about nine points from the closing record set August 29. The tech-rich Nasdaq Composite Index advanced 0.6 per cent to 7,997.75.

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Industrials lead Dow to record high; tech boosts S&P, Nasdaq

NEW YORK (Reuters) – Trade-sensitive industrial stocks led the Dow Jones Industrial Average to a record closing high on Thursday, the last of Wall Street’s main indexes to fully regain ground since a correction that began in January. All three major U.S. indexes closed higher as trade worries subsided. Technology companies led the Nasdaq higher, along with the S&P 500, which also hit a new closing high.

Microsoft Corp (MSFT.O) and Apple Inc (AAPL.O) rose 1.7 percent and 0.8 percent, respectively. The companies headed up the tech sector’s 1.2 percent gain.

The market took the ongoing trade dispute in stride, and was further boosted as the dollar index .DXY fell to its lowest in more than ten weeks. A weaker dollar supports U.S. exports.

“When it’s confirmed you’re at new highs people see that as an all clear signal and they jump in,” said Mark Hackett, chief of investment research, Nationwide in Downingtown, Pennsylvania. “There’s no individual headlines that would cause it.”

Bernard Baumohl, chief global economist at the Economic Outlook Group in Princeton, New Jersey, agreed, but saw reason for caution.

“The feeling is the stock market resembles a drunk at the top of a hill,” Baumohl said. “He’s wobbling and you know that drunk’s going to fall but you just don’t know when or how hard.”

The Dow Jones Industrial Average .DJI rose 251.22 points, or 0.95 percent, to 26,656.98, the S&P 500 .SPX gained 22.8 points, or 0.78 percent, to 2,930.75 and the Nasdaq Composite .IXIC added 78.19 points, or 0.98 percent, to 8,028.23.

Slideshow (3 Images)

The last time the S&P and Dow hit record intraday highs without the Nasdaq following suit was Dec. 13, 2017. Of the 11 major sectors of the S&P 500, all but energy .SPNY ended the session in positive territory.

Among the

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Dow, S&P set records as economy roars

U.S. stock markets smashed records Thursday as investors tuned out politics, natural disasters and trade to focus on a flourishing economy that is producing robust corporate earnings.

The S&P 500 and Dow Jones industrial average closed at record highs on Thursday, finishing up .78 percent and .95 percent respectively. The S&P closed up 22.80 points at 2,930.75. T he Dow finished up 251 points, a gain of .95 percent on the day to close at 26,656.98. The tech-heavy Nasdaq Composite finished at 8,028.23, up .98 percent.

It’s the S&P’s 19th record close this year and its 89th since the 2016 election. The Dow recorded its 12th new closing high of the year and its 100th new high since the election. This is considered by some experts to be the longest bull market in history.

“The Dow has hit over 200 all-time highs since the market bottomed, which means that investors have had 200 reasons to sell at a high, and every one of those reasons have been wrong,” said Daniel P. Wiener, chairman of Adviser Investments, a Newton, Mass.-based firm.

[Trump urges OPEC to drive down oil prices]

President Trump, who has made the stock market gains one of the cornerstones of his presidency, jumped on the bandwagon Thursday morning saying in a tweet, “S&P 500 HITS ALL-TIME HIGH Congratulations USA!”

Investors have been reacting to corporate stock buybacks, strong U.S. economic growth and predictions of another strapping quarter of profits, analysts say.

Scott Wren, senior global equity strategist for Wells Fargo Investment Institute, said second-quarter earnings were up 25 percent over the year before and more than 80 percent of companies beat Wall Street expectations.

A big chunk of the profits and stock gains are coming on the tail of the Republican corporate tax cut passed last December. The

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