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Sat, 25th March 2017

Anirudh Sethi Report

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Archives of “nasdaq 100” Tag

Overnight :US Markets closed at sessions low.Dow closed -112 points

S&P down -0.59%

The US major stock indices are going out near lows levels
  • S&P index is closing at 2382, –14.15 points or -0.59%
  • NASDAQ composite index  closing at 5861.22, down -42.8 points or -0.73%
  • Dow is down -112.58 points to 21002.  That is down -0.53%
Caterpillar was a big drag on the Dow today as federal investigators raided corporate head quarters for tax documents.
Snap came to the market. The IPO was priced at $17 per share, and opened at $24.  It is closing at $24.48.
In the US debt market:
  • The 2 year not is trading at 1.312% up 2.8 bp. The yield is the highest in 7 years
  • 10 year yield is at 2.483% up 3 b

Overnight US Market :Dow closed up 15.68 points. Closes at a record for 12th straight day, longest streak since 1987

Stocks rose Monday as the Dow closed at a record high for a twelfth straight day, something it hasn’t done since Jan. 1987 when it ran off 13 straight record closes to start the year, according to Bespoke Investment Group.

The Dow Jones industrial average rose 15.68 points, or 0.1%, to 20,837.44. The Standard & Poor’s 500 index added 2.39, or  0.1%, to 2369.73 and the Nasdaq composite index gained 16.59, or 0.3%, to 5861.90.

Energy stocks led the gainers as the price of crude rose.  Benchmark U.S. crude was up 20 cents, or 0.4%, at $54.15 a barrel in New York. The contract fell 46 cents on Friday.

Investors were looking ahead to President Donald Trump’s speech to Congress on Tuesday for details of promised tax cuts and infrastructure spending. U.S. stocks have benefited from Trump’s promise of pro-business changes, but investors are waiting to see  how large and rapid those changes will be.

During a meeting with governors Monday, Trump noted that his upcoming budget would include a big boost to defense spending. The White House separately said that the budget would include a $54 billion increase in defense spending while imposing corresponding cuts to domestic programs and foreign aid.

Investors were also looking ahead to Trump’s speech Tuesday to a joint session of Congress for details of how he plans to carry out promises to cut taxes and step up infrastructure spending.

n Europe, Germany’s DAX rose 0.2%, while France’s CAC-40 was flat. London’s FTSE-100 added 0.1% Major indexes in Asia posted losses. Tokyo’s Nikkei 225 index fell 0.9%. Hong Kong’s Hang Seng slid 0.2%. Seoul’s Kospi shed 0.4%.

Overnight US Market :Dow closes back above 20,000, Nasdaq hits record

Banks and other financial companies led stocks higher on Wall Street Friday as President Trump prepares to scale back financial industry regulations. Buyers were also encouraged by a pickup in hiring in January. Small-company stocks, which stand to benefit more than others from stronger economic growth, make sharp gains.

The Dow Jones industrial average jumped back above the 20,000 level as the blue-chip index rose 186.55 points, or 0.9%, to close at 20,071.46. The Standard & Poor’s 500 index gained 16.57, or 0.7%, to 2297.43, moving within one point of its record closing high of 2298.37. The Nasdaq composite index added 30.57, or 0.5%, to set a new record closing high of 5666.77.

The Russell 2000 index of smaller-company stocks climbed 1.5% to 1,377.84. Smaller, domestically-focused companies may have more to gain than their larger peers from faster growth in the U.S. The Russell made large gains at the end of 2016 based on those hopes.

The stock market rally kicked off early after the government reported that U.S. employers added 227,000 jobs in January, higher than last year’s average monthly gain of 187,000 and a sign that President Donald Trump has inherited a robust job market. The unemployment rate ticked up to a low 4.8% from 4.7% in December, but for a good reason: More people started looking for work. The percentage of adults working or looking for jobs increased to its highest level since September.

Financial firms rose after President Donald Trump took his first steps aimed at scaling back regulations on the industry. He signed an order that directs the Treasury Secretary to look for potential changes to the Dodd-Frank law, which reshaped financial regulations after the 2008-09 financial crisis and created the Consumer Financial Protection Bureau.

The order doesn’t have any immediate impact, but suggests Trump is intent on reducing regulations, which could boost profits for financial companies and banks.

Dow components Visa (V) and Goldman Sachs (GS) jumped 4.6%, JPMorgan Chase (JPM) added 3.1% and American Express (AXP) gained 2%. Smaller banks, which could find it easier to lend money if regulations are cut, also traded higher.

Overnight US Market :Dow closed -107 points.

U.S. stocks fell Tuesday as the market fallout of Trump’s travel ban on seven Muslim-majority countries continues to take a toll and investors digest weak fourth-quarter results from companies including UPS and Under Armour.

Industrial companies are down the most, but health care companies offset some of the losses. As they look for less risky investments, buyers are moving money into bonds and stocks that pay large dividends, like utilities.

The Standard & Poor’s 500 index  fell for a fourth straight day, its longest losing streak since before the presidential election in November. But the losses have been fairly small, and for the second day in a row, stocks recovered some of their losses late in the day.

The Standard & Poor’s 500 index fell 2.03 points, or 0.1%, to 2278.87. The Dow Jones industrial average dropped 107.04 points, or 0.5%, to 19,864.09.  The Nasdaq composite index was able to cut its losses and closed up 1.07 to 5614.79.

Bond prices rose as investors snapped up bonds. The yield on the 10-year Treasury note fell to 2.45% from 2.49%. That hurt financial stocks, as lower bond yields reduce interest rates and the profits those companies make from lending.

Investors who want income also bought stocks that pay outsize dividends, including real estate investment trusts and utility companies. Gains for those stocks limited the market’s losses overall.

In earnings news:

Overnight US Market :Dow closed + 60 points.Now 58 points away to kiss 20k

Stocks climbed Wednesday as Wall Street posted a second straight day of gains in the new year and the Dow once again approached the 20,000 milestone.

The Dow Jones industrial average ended up 60 points, or 0.3%, to 19,942.16. The blue-chip index rose has come close to topping 20,000 several times in recent weeks but each time it gets near has pulled back. The Standard & Poor’s 500 index rose 0.6% and the Nasdaq composite index gained 0.9%. Both the S&P 500 and Nasdaq are near their record closing highs.

Stocks maintained their gains following the release of the minutes from the latest Federal Reserve meeting that provided clues to why policymakers raised interest rates in December for only the second time since 2006 and forecast three rate hikes in 2017 instead of the two moves previously anticipated.

Fed officials said they might have to raise interest rates faster than anticipated to prevent rapidly falling unemployment and President-elect Donald Trump’s proposed fiscal stimulus from fueling excessive inflation, according to minutes of the Fed’s December 13-14 meeting.

Benchmark U.S. crude was up 1.8% to $53.24 a barrel in New York. It lost $1.39 on Tuesday.

Overnight US Market :Dow Closed +40 points

Stocks closed mixed Monday as the Dow hit a new all-time high and as oil prices jumped after several non-OPEC countries agreed to join the cartel in cutting output and as investors focused on interest rates. The S&P 500 and Nasdaq snapped 6-day winning streaks and retreated from record highs.

Investors were also focusing on interest rates as Federal Reserve  policymakers meet this week and most economists expect the Fed to announce a rate hike at the conclusion of the 2-day meeting on Wednesday.

The Dow Jones industrial average rose 39.58 points, or 0.2%, to a record close of 19,796.43, according to preliminary calculations. The Standard & Poor’s 500 index fell 0.1% to 2256.96,  after rising in early trading to set a new intraday record. The Nasdaq composite index dropped fell 0.6% to 5412.54.

Energy stocks got a boost as the price of U.S. benchmark crude oil jumped 2.6% to $52.83 a barrel as oil-producing countries outside of OPEC agreed to reduce production by 558,000 barrels per day. That comes after OPEC countries agreed in November to reduce production by 1.2 million barrels per day.

Overnight US Market :Dow closed +46 points ,S&P 500 up 13 points

U.S. stocks rose Monday as investors sent the Dow Jones industrial average to another record high. Banks put up some of the biggest gains, as did technology companies, which have been mostly left out of a post-election rally. Energy companies were higher as the price of oil reached its highest level since July 2015. Small-company stocks continued to outpace the rest of the market.

The Dow Jones industrial average rose 45.82, or 0.2%, to close at a record 19,216.31. The Standard & Poor’s 500 index gained 0.6% to 2204.71 and the Nasdaq composite index rose 1% to 5308.89.

Small-company stocks again outpaced the rest of the market as the Russell 2000 jumped 1.8%. Thanks to a big rally in November, the Russell is up 17% this year, or more than twice as much as the S&P 500. Smaller companies, which are more domestically focused than large multinationals, could stand to benefit more than larger companies from a pickup in U.S. growth.

Oil prices rose for the fourth day in a row. The gains Monday were modest, but oil prices haven’t been this high since July 2015. Benchmark U.S. oil rose 11 cents to $51.79 per barrel in New York. Brent crude, used to price international oils, gained 48 cents to $54.94 a barrel in London. The price of oil has surged since OPEC countries finalized a deal that will trim oil production starting in January.

Overnight US Market :Dow closed +89 points.S&P 500 Up 16 points.

U.S. stocks jumped Monday as all four major U.S. indexes closed at new record highs.

Stocks got a lift from energy stocks as the price of oil jumped. Investors are hoping that OPEC countries will soon finalize a deal that would cut oil production and help support prices. The start of the week once again brought several corporate deals, with companies in the energy and technology industry making moves.

The Standard & Poor’s 500 index rose 16.28, or 0.8%, to close at a record 2198.18. The Dow Jones industrial average gained 88.76, or 0.5%, to a record close of 18,956.69. The Nasdaq composite index gained 47.35, or 0.9%, to close at an all-time high of 5368.86.  The Russell 2000, an index of smaller companies, rose 6.59, or 0.5%, to 1322.23.

For the past couple of weeks, the main driver in markets has been the election of Donald Trump as the next U.S. president and bullishness about possible pro-growth fiscal policies. In general, his victory has helped stocks and the dollar but weighed on bonds. But slowly attention is shifting onto other matters, including next month’s widely anticipated interest rate hike from the Federal Reserve.

Also generating attention is the next meeting of oil ministers from the OPEC oil cartel on Nov. 30 in Vienna, Austria. Expectations are growing that the ministers will push through a production cut following an indication recently that one was on the cards. That’s helped buoy oil prices in markets.

Benchmark U.S. crude oil rose to its highest price this month. It gained $1.80, or 3.9%, to $47.49 a barrel while Brent crude, the international standard, rose $2.04, or 4.4%, to $48.90 a barrel in London.

 

Overnight US Market :Dow closed + 30 points

Stocks cut early losses and closed mixed Wednesday as investors continue to grapple with the trend of U.S. corporate earnings “beats” being offset by companies that fall short of forecasts continues to keep the broad market in its sideways pattern.

The Dow Jones industrial average rose 30 points, or 0.2%, to 18,199 after being down about 100 points earlier. Dow component profit beats from aerospace giant Boeing (BA) offset disappointing results from iPhone maker Apple (AAPL), which topped earnings estimates by a penny but clocked in its third straight quarter of declining revenue and its first full-year revenue decline in 15 years.

Boeing’s stock surged 4.7% and Apple fell 2.3%.

The broad Standard & Poor’s 500 stock index fell 0.2% to 2139 and the Nasdaq composite index slid 0.6% to 5250.

The broad market was also dragged down by another drop below $50 per barrel for U.S.-produced crude oil.

Overnight US Market -DOW Closed + 77 points ,S&P 500+ 10 Points

Stocks rose  Monday as investors seemed heartened by a flurry of activity in the mergers and acquisitions space.

The Dow Jones industrial average gained 77 points, or 0.4%, to close at 18,223. The Standard & Poor’s 500 index increased 0.5% to 2151 and the Nasdaq composite index jumped 1% to 5310.

The gains came despite a slightly negative investor reaction to AT&T’s $85.4 billion deal for Time Warner, which was officially announced Saturday.

But traders were pleased at the sight of Rockwell Collins’ $6.4 billion acquisition of B/E Aerospace. Shares of B/E Aeropsace (BEAV) shot up more than 15% as Rockwell (COL) fell 6%

Other deals included TD Ameritrade’s $4 billion acquisition of rival Scottrade.

Meanwhile, cell phone services provider T-Mobile (TMUS) raised its profit outlook after adding 2 million net new customers in the third quarter. The company beat S&P Global Market Intelligence expectations on earnings per share.