FYI: U.S. stocks wobbled for the second consecutive session Wednesday, pausing their early-year rally as analysts weighed comments from U.S. Trade Representative Robert Lighthizer and the latest batch of corporate earnings.
The Dow Jones Industrial Average was down 72 points, or 0.25%, at 25985, after earlier falling as much as 181 points. The S&P 500 dropped less than 0.05%, and the tech-heavy Nasdaq Composite also swung between small gains and losses and was recently down less than 0.07%.
Although patience from the Federal Reserve and optimism about a U.S.-China trade agreement have boosted stocks recently, some analysts say the recovery has gone too far. The Dow industrials entered Wednesday’s session up 12% for the year and within 3% of last year’s record.
The yield on the benchmark 10-year U.S. Treasury note rose to 2.684%, according to Tradeweb, from 2.636% a day earlier. Bond yields rise as prices fall.
Elsewhere, the Stoxx Europe 600 dipped 0.3%.
Japan’s Nikkei 225 closed 0.5% higher, while Hong Kong’s Hang Seng shed less than 0.1% after climbing earlier in the session.
The majority of the S&P 500 Sectors, led by Communicationn Services lagged, while Energy led the winners.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-02-27/your-evening-briefingWSJ:
https://www.wsj.com/articles/global-stocks-decline-as-violence-erupts-in-kashmir-11551258388Bloomberg:
https://www.bloomberg.com/news/articles/2019-02-26/asia-stocks-set-for-modest-gains-treasuries-rise-markets-wrap?srnd=premiumIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-stock-triggers-sell-signals/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-edges-lower-after-lighthizer-comments-on-trade-talks-idUSKCN1QG1R1?il=0CNBC:
https://www.cnbc.com/2019/02/27/stock-market-dow-futures-in-focus-ahead-of-trump-kim-summit.htmlU.K.: FTSE Down .61%
Europe:
https://www.marketwatch.com/story/europes-indexes-sink-as-geopolitical-tensions-between-pakistan-and-india-escalate-metro-bank-plunges-20-2019-02-27/printAsia:
https://www.marketwatch.com/story/asian-markets-rise-as-trump-kim-set-to-meet-2019-02-26/printBonds:
https://www.cnbc.com/2019/02/27/bonds-traders-await-another-powell-speech.htmlCurrencies:
https://www.cnbc.com/2019/02/27/forex-markets-dollar-the-fed-british-pound-in-focus.htmlOil:
https://www.cnbc.com/2019/02/27/oil-markets-opec-us-crude-inventories-in-focus.htmlGold
https://www.cnbc.com/2019/02/27/gold-markets-the-fed-dollar-palladium-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
Comments
Regards,
Ted