Worst timing ever? 
$SMCI was down 23% today.
$SMCI increased 400% from January to March.
Then, on March 18, S&P added it to the S&P 500.
Showing posts with label S&P500. Show all posts
Showing posts with label S&P500. Show all posts
Friday, April 19, 2024
Monday, January 30, 2023
Nasdaq 100 on pace for best January since 1999
The Nasdaq 100 Stock Index is on pace for its best January since 1999 despite warning signs from the likes of Microsoft Corp. and Intel Corp. and another expected interest-rate hike from the Federal Reserve. The Cboe Volatility Index sank within striking distance of a 10-month low on Friday, signalling less angst in the market. Meanwhile, options trading on megacaps last week showed demand hasn’t jumped for protection against a selloff.
Wednesday, December 28, 2022
Market update: S&P 500 dips below 3,800 Dow dips below 33,000 (28 Dec 22)
S&P 500 dips below 3,800
Dow dips below 33,000Nasdaq dips below 10,300
Tuesday, March 15, 2022
The Dow and the S&P 500 trading below the “death cross”
Both the Dow and the S&P 500 are trading below their respective “death cross” (50 dma crossed below 200 dma).
Tuesday, January 12, 2021
Emerging-market stocks barely regain strength with record
Emerging-market stocks have barely begun to overcome a decade of relative weakness even after breaking a 13-year-old record last week. A comparison between the MSCI Emerging Markets Index and the S&P 500 Index shows as much. While the developing-country gauge set a new high Friday, the index ended the week having recovered only 7% of a plunge relative to the S&P 500 from October 2010 through last May.
A reversal “appears to have only just begun,” Willie Delwiche, a strategist at Robert W. Baird & Co., wrote Monday in a Twitter post with a similar chart.
Friday, January 31, 2020
Market update (31 January 20)
The stock market sold off to end the week, and month, on growing concerns about the coronavirus and the negative effect it could have on economic growth.
The coronavirus angst was exacerbated by increasing reports of worldwide cases; Delta Air Lines (DAL), United Airlines (UAL), and American Airlines (AAL) suspending U.S.-China flights; and the White House declaring a public health emergency in addition to announcing some travel restrictions.
Fri, Jan 31, 20
Worried by the mounting death toll from the coronavirus and drastic efforts to contain it, investors dashed for the exits,
coronavirus-related stocks on Fri Jan 31, 20
YTD
Nasdaq Composite +2.0%
S&P 500 -0.2%
Dow Jones Industrial Average -1.0%
Russell 2000 -3.3%
GSG commodity index, renko chart
The Economist cover; sold out masks at CVS
Latest coronavirus news:
- Chinese authorities have reported more than 350 fatalities
- China has banned burials or funerals for virus victims
- There are over 14,000 confirmed cases worldwide
- Hong Kong, Japan, Singapore, UAE and the US have confirmed more infections
- The outbreak has reached more than two dozen countries and regions globally
- Several countries are halting flights to and from China
- WHO declared the virus was a public health emergency of international concern
Friday, November 29, 2019
Market update (29 Nov 2019)
Nasdaq Composite +30.6% YTD
S&P 500 +25.3% YTD
Russell 2000 +20.5% YTD
Dow Jones Industrial Average +20.3% YTD
S&P 500 +25.3% YTD
Russell 2000 +20.5% YTD
Dow Jones Industrial Average +20.3% YTD
S&P 500 - 2 years
Saturday, September 21, 2019
Market outlook : S&P 500 at major resistance level (20 Sept 2019)
- The all-time high close on the S&P 500 is 3025.86, set on July 26, 2019.
- On Thursday, the S&P 500 hit 3021.99, less than 4 points from that key level.
Friday, August 23, 2019
Market update: Trade slams stocks as Fed takes wait-and-see stance (23 August 2019)
Nasdaq Composite +16.8% YTD
S&P 500 +13.6% YTD
Dow Jones Industrial Average +9.9% YTD
Russell 2000 +8.2% YTD
The stock market sold off on Friday after President Trump ordered companies to find an alternative to China in response to Beijing announcing retaliatory tariffs against the U.S. The S&P 500 (-2.6%), Dow Jones Industrial Average (-2.4%) , the Nasdaq Composite (-3.0%) and Russell 2000 (-3.1%).
Worries about trade tensions with China following a combative tweet earlier in the day from President Trump, who was squawking back at China for its tariff announcement this morning and "ordering" U.S. companies to find alternatives to China, have catalyzed today's sell-off.
The day started with investors looking forward to Fed Chair Powell's speech from Jackson Hole, Wyoming. Attention quickly shifted to trade, however, after China announced tariffs on $75 billion of goods imported from the U.S on Sept. 1 and Dec. 15, which are the same dates the U.S. has planned for its tariffs on China. The tariff rate will range from 5-10%, including a separate 5-25% on autos and auto parts starting Dec. 15.
Modest selling ensued, but stocks quickly recouped losses after Mr. Powell reiterated comments that upheld the market's view for further economic stimulus. The day had barely begun, though, and President Trump took to Twitter to lash out against both the Fed Chair and China. Stocks fell noticeably on the president's declaration that companies find alternatives to China.
Amid the uncertainty and growth concerns, investors flocked to safe-haven assets like gold ($1537.25/oz, +$28.75, +1.9%), the Japanese yen, and U.S. Treasuries. In addition, expectations for further downside in equities contributed to a 17.8% spike in the CBOE Volatility Index (19.65, +2.97).
The 2-yr yield dropped seven basis points to 1.53%, and the 10-yr yield dropped eight basis points to 1.53%. The U.S. Dollar Index fell 0.5% to 97.73. WTI crude fell 2.0%, or $1.12, to $54.16/bbl.
President Trump also indicated he would officially respond to Beijing's actions in the afternoon. No response was announced by session's close, which may have contributed to some reservations to step into the action during the day.
U.S. Treasuries ended the week on a sharply higher note.
Yield Check:
S&P 500 +13.6% YTD
Dow Jones Industrial Average +9.9% YTD
Russell 2000 +8.2% YTD
The stock market sold off on Friday after President Trump ordered companies to find an alternative to China in response to Beijing announcing retaliatory tariffs against the U.S. The S&P 500 (-2.6%), Dow Jones Industrial Average (-2.4%) , the Nasdaq Composite (-3.0%) and Russell 2000 (-3.1%).
The day started with investors looking forward to Fed Chair Powell's speech from Jackson Hole, Wyoming. Attention quickly shifted to trade, however, after China announced tariffs on $75 billion of goods imported from the U.S on Sept. 1 and Dec. 15, which are the same dates the U.S. has planned for its tariffs on China. The tariff rate will range from 5-10%, including a separate 5-25% on autos and auto parts starting Dec. 15.
Modest selling ensued, but stocks quickly recouped losses after Mr. Powell reiterated comments that upheld the market's view for further economic stimulus. The day had barely begun, though, and President Trump took to Twitter to lash out against both the Fed Chair and China. Stocks fell noticeably on the president's declaration that companies find alternatives to China.
Amid the uncertainty and growth concerns, investors flocked to safe-haven assets like gold ($1537.25/oz, +$28.75, +1.9%), the Japanese yen, and U.S. Treasuries. In addition, expectations for further downside in equities contributed to a 17.8% spike in the CBOE Volatility Index (19.65, +2.97).
The 2-yr yield dropped seven basis points to 1.53%, and the 10-yr yield dropped eight basis points to 1.53%. The U.S. Dollar Index fell 0.5% to 97.73. WTI crude fell 2.0%, or $1.12, to $54.16/bbl.
President Trump also indicated he would officially respond to Beijing's actions in the afternoon. No response was announced by session's close, which may have contributed to some reservations to step into the action during the day.
U.S. Treasuries ended the week on a sharply higher note.
Yield Check:
- 2-yr: -7 bps to 1.53%
- 3-yr: -8 bps to 1.45%
- 5-yr: -8 bps to 1.41%
- 10-yr: -8 bps to 1.53%
- 30-yr: -8 bps to 2.03%
Commodities:
- WTI crude: -2.0% to $54.16/bbl
- Gold: +1.9% to $1537.50/ozt
- Copper: -1.2% to $2.53/lb
Currencies:
- EUR/USD: +0.6% to 1.1146
- GBP/USD: +0.3% to 1.2288
- USD/CNH: +0.6% to 7.1337
- USD/JPY: -1.0% to 105.31
Thursday, August 1, 2019
Wednesday, March 20, 2019
Market update: FOMC announcement of no rate hike (20 March 2019)
The Federal Reserve says it will leave interest rates unchanged until it sees whether the economy stabilizes as the stimulative effect of 2017 tax cuts fades, and has downgraded its forecast of US economic growth slightly from 2.3% to 2.1%. Chairman Jerome Powell says the central bank expects the modest economic slowdown "with overall conditions remaining favorable."
Fed Chair Jerome Powell says economy is in a good position and it will use monetary policy to keep it there
Closing Commodities: WTI oil prices settles above $60/barrel, near its HoD
- Fed leaves rates unchanged at 2.25-2.50%, as widely expected; Signals no rate hike this year.
- Leaving the fed funds rate intact was widely expected. Projecting zero rate hikes in 2019 -- and only one in 2020 -- along with providing an end date for its balance sheet runoff was less expected. These actions made it clear that the market doesn't have to fear the Fed like it did in the fourth quarter.
- A dovish Fed reignited slowdown worries
- Fed will remain patient on monetary policy.
- Conditions are less supportive of growth than in 2018.
- Notes weakness in Europe and China.
- Limited data for this year has been mixed; Notes Feb jobs number.
- Business fixed investment growing slower y/y;
- Inflation has been muted;
- Brexit and trade negotiations pose risk to the outlook.
Closing Commodities: WTI oil prices settles above $60/barrel, near its HoD
- Metals Settlement Prices:
- Apr gold settled today's session $5.60 lower (-0.4%) at $1301.25/oz
- May silver settled today's session $0.05 lower (-0.3%) at $15.32/oz
- May copper settled $0.01 lower (-0.3%) at $2.92/lb
- Agriculture Settlement Prices:
- May corn settled unchanged at $3.71/bushel
- May wheat settled $0.08 higher (+1.8%) at $4.64/bushel
- May soybeans settled $0.01 higher at $9.05/bushel
- Energy Settlement Prices:
- Apr crude oil futures rose $0.86 (+1.4%) to $60.20/barrel
- Apr natural gas settled $0.05 lower (-1.7%) at $2.82/MMBtu
- Apr RBOB gasoline settled $0.02 higher (+1.1%) at $1.91/gallon
- Apr heating oil futures settled $0.02 higher (+1.0%) at $2.01/gallon
Wednesday, October 10, 2018
Market update: Stocks tumble following technical breach (10 October 2018)
Stocks tumbled on Wednesday as bond yields held steady at multi-year highs and amid continued concerns about economic and earnings growth prospects. The S&P 500 lost 3.3%, extending its losing streak to five sessions in a row, which is its longest losing streak since 2016. The Dow Jones Industrial Average and the Nasdaq Composite also fell sharply, losing 3.2% and 4.1%, respectively.
At the opening bell, the S&P 500 fell below its 50-day moving average (2879), which has been an area of support for the market this week. Selling continued from there, with the S&P 500 extending its opening loss of 0.5% more than six times over. However, the selling didn't feel fast and panicky; rather, it was somewhat orderly in nature, which underscores the idea that it was largely a risk-reduction effort, whereby market participants are cutting their exposure to stocks, cognizant that earnings growth estimates are at risk with rising interest rates, tariff actions, and higher costs.
Other key technical breaches included the Dow falling below its 50-day moving average, the Nasdaq falling below its 200-day moving average, and the Russell 2000 falling below its 200-day moving average.
High-growth FANG names, which have been key leadership stocks for this bull market, struggled mightily on Wednesday; Netflix (NFLX 325.89, -29.82) lost 8.4%, Amazon (AMZN 1755.25, -115.07) lost 6.2%, Facebook (FB 151.38, -6.52) lost 4.1%, Apple (AAPL 216.36, -10.51) lost 4.6%, and Alphabet (GOOG 1081.22, -57.60) lost 5.1%.
Information technology was the worst-performing S&P sector on Wednesday, tumbling 4.8%, but growth-sensitive, cyclical groups underperformed on the whole, with financials, consumer discretionary, industrials, energy, and communications services all losing between 3.0% and 3.9% apiece. None of the 11 S&P sectors were able to advance on Wednesday, but the defensive-oriented utilities (-0.5%) group did manage to keep its loss in check.
Interestingly, the equity sell off did not lead to higher demand for "risk-free" U.S. Treasuries. In fact, bonds declined with stocks on Wednesday, with investors presumably opting to go to cash instead. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, advanced two basis points to 3.23%, closing near a seven-year high.
Meanwhile, the CBOE Volatility Index, often referred to as the "investor fear gauge", spiked 36.2% to 21.73, its highest level since late March.
Rotation
Some market participants argue that investors are shifting from growth-fueled strategies to value shares, which have been out of favor as shares of growthy, techy companies have soared. Investors tend to turn to overlooked value companies in the later stages of an economic cycle, before a recession, market participants say.
Thursday, Oct 11, 18: Wall Street extends Wednesday's drop
Wall Street extended Wednesday's tumble on Thursday in a volatile day of trading. The major averages settled notably lower, with the S&P 500 losing 2.1%, the Dow Jones Industrial Average falling 2.1%, and the Nasdaq Composite shedding 1.3%. With Thursday marking its sixth straight decline, the S&P 500 is now down 5.5% for the week and is 6.9% below its September 20 record close.
Financial giants JPMorgan Chase (JPM 108.13, -3.34), Citigroup (C 68.38, -1.57), and Wells Fargo (WFC 51.44, -0.99) will unoffically kick off the third quarter earnings season on Friday morning.
Also of note, the CBOE Volatility Index (VIX) spiked once again on Thursday, jumping 11.8% to 25.57, marking its highest level since February.
From a technical standpoint, the S&P 500 got into trouble once again on Thursday, closing below its 200-day moving average (2766) for the first time since March, after breaching its 50-day moving average the day before. The Dow Jones Industrial Average also fell below its 200-day moving average (25140) and the Nasdaq Composite and Russell 2000 stayed below theirs.
Other key technical breaches included the Dow falling below its 50-day moving average, the Nasdaq falling below its 200-day moving average, and the Russell 2000 falling below its 200-day moving average.
High-growth FANG names, which have been key leadership stocks for this bull market, struggled mightily on Wednesday; Netflix (NFLX 325.89, -29.82) lost 8.4%, Amazon (AMZN 1755.25, -115.07) lost 6.2%, Facebook (FB 151.38, -6.52) lost 4.1%, Apple (AAPL 216.36, -10.51) lost 4.6%, and Alphabet (GOOG 1081.22, -57.60) lost 5.1%.
Information technology was the worst-performing S&P sector on Wednesday, tumbling 4.8%, but growth-sensitive, cyclical groups underperformed on the whole, with financials, consumer discretionary, industrials, energy, and communications services all losing between 3.0% and 3.9% apiece. None of the 11 S&P sectors were able to advance on Wednesday, but the defensive-oriented utilities (-0.5%) group did manage to keep its loss in check.
Interestingly, the equity sell off did not lead to higher demand for "risk-free" U.S. Treasuries. In fact, bonds declined with stocks on Wednesday, with investors presumably opting to go to cash instead. The benchmark 10-yr yield, which moves inversely to the price of the 10-yr Treasury note, advanced two basis points to 3.23%, closing near a seven-year high.
Meanwhile, the CBOE Volatility Index, often referred to as the "investor fear gauge", spiked 36.2% to 21.73, its highest level since late March.
Rotation
Some market participants argue that investors are shifting from growth-fueled strategies to value shares, which have been out of favor as shares of growthy, techy companies have soared. Investors tend to turn to overlooked value companies in the later stages of an economic cycle, before a recession, market participants say.
Thursday, Oct 11, 18: Wall Street extends Wednesday's drop
Wall Street extended Wednesday's tumble on Thursday in a volatile day of trading. The major averages settled notably lower, with the S&P 500 losing 2.1%, the Dow Jones Industrial Average falling 2.1%, and the Nasdaq Composite shedding 1.3%. With Thursday marking its sixth straight decline, the S&P 500 is now down 5.5% for the week and is 6.9% below its September 20 record close.
Financial giants JPMorgan Chase (JPM 108.13, -3.34), Citigroup (C 68.38, -1.57), and Wells Fargo (WFC 51.44, -0.99) will unoffically kick off the third quarter earnings season on Friday morning.
Also of note, the CBOE Volatility Index (VIX) spiked once again on Thursday, jumping 11.8% to 25.57, marking its highest level since February.
From a technical standpoint, the S&P 500 got into trouble once again on Thursday, closing below its 200-day moving average (2766) for the first time since March, after breaching its 50-day moving average the day before. The Dow Jones Industrial Average also fell below its 200-day moving average (25140) and the Nasdaq Composite and Russell 2000 stayed below theirs.
US markets close
- 2018-10-12 Friday: European and US markets
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