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The Closing Bell: Stocks Turn Lower As Investors Focus On Trade, Central Banks

TedTed
edited March 2019 in Fund Discussions
FYI: ( The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest update from IBD and Bloomberg Evening Briefing.)

The S&P 500 slipped Tuesday as declines in utilities shares offset gains in consumer-discretionary stocks.

The Dow Jones Industrial Average fell 26 points, or 0.10%, to 25887, after climbing more than 100 points in early trading. The S&P 500 was down 0.37% while the technology-heavy Nasdaq Composite rose 0.12%.

Shares of consumer-discretionary companies in the S&P 500 rose 0.5% while utilities stocks shed 1.5%.

Boeing shares, which have come under pressure recently, rose 0.4% as U.S. federal investigators probe the development of the Boeing 737 MAX that has been involved in two fatal crashes in the past five months. Technology giant IBM, meanwhile, ticked up 0.4%.

Major averages retreated from session highs in afternoon trading after The Wall Street Journal reported that top U.S. and China negotiators are planning new rounds of talks to end a trade dispute between the world’s two biggest economies, with a target date for a deal by the end of April.

The Fed’s monetary-policy statement, expected Wednesday, is a particular focus. Weakening data out of several major economies in recent months have prompted jitters, with 30% of fund managers surveyed by Bank of America Merrill Lynch citing a slowdown in Chinese growth as the biggest risk to global markets. That overtook the prospect of a trade war, which had been investors’ biggest fear for the previous nine months.

The yield on the benchmark 10-year U.S. Treasury note ticked up Tuesday to 2.609%, according to Tradeweb, from 2.605% Monday. Yields rise as bond prices fall. The WSJ Dollar Index was down 0.1%.

In commodities, U.S. crude futures ticked down to 0.2% to $59.01 a barrel, easing from Monday’s gains after OPEC and its allies recommitted to production cuts until the end of June.

Elsewhere, the Stoxx Europe 600 rose 0.6%. In Asia, Japan’s Nikkei 225 slipped 0.1% and Hong Kong’s Hang Seng gained 0.2%.

Three of the eleven S&P 500 Sectors led by Healthcare had a positive day. Utilities led the other eight in negative territory.
Regards
Ted
Bloomberg Evening:
https://www.bloomberg.com/news/articles/2019-03-19/your-evening-briefing

MarketWatch:
https://www.marketwatch.com/story/dow-aims-for-5-day-winning-streak-as-investors-brace-for-fed-meeting-2019-03-19/print

WSJ:
https://www.wsj.com/articles/stocks-extend-gains-ahead-of-key-central-bank-decisions-11552986279

Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-18/asian-stocks-set-for-muted-start-dollar-slips-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/stock-market-gives-up-big-gains-surging-chips-boost-nasdaq/

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-gains-halve-after-report-of-china-pushback-on-trade-idUSKCN1R01E5

CNBC:
https://www.cnbc.com/2019/03/19/stock-market-wall-street-investors-focus-on-federal-reserve-meeting.html

U.K.:
https://uk.reuters.com/article/uk-britain-stocks/ftse-100-in-seventh-heaven-as-oil-miners-gain-ocado-hits-life-high-idUKKCN1R00U8

Europe:
https://www.cnbc.com/2019/03/19/european-markets-fed-meeting-in-focus-third-brexit-vote-blocked.html

Asia:
https://www.marketwatch.com/story/asian-markets-muted-awaiting-upcoming-fed-meeting-2019-03-18/print

Bonds:
https://www.cnbc.com/2019/03/19/us-treasury-yields-mixed-as-investors-await-fed-meeting.html

Currencies:
https://www.cnbc.com/2019/03/18/forex-market-dollar-brexit-vote-the-fed-in-focus.html

Oil:
https://www.cnbc.com/2019/03/18/oil-market-opec-supply-cuts-us-sanctions-in-focus.html

Gold
https://www.cnbc.com/2019/03/18/gold-market-federal-reserve-brexit-vote-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx

Comments

  • Updated
  • image ■ ■ ■ ■ ■ ■ ■ ■ THIS POST IS IN VIOLATION OF MFO POSTING STANDARDS ■ ■ ■ ■ ■ ■ ■ ■ image

    ⇒ This post had almost no views and no comments. It has been artificially "bumped" into the COMMENTS + CATEGORY by the poster himself, without legitimate qualifying comments.

    Rather than include "Updated" within his original post, he has deliberately added a phony comment so as to force it to your attention. He is well aware that this is a violation of MFO standard practice, but he believes himself to be exempt from such things, because, after all, he is the almighty TED... a legend in his own mind. Rules are for the small people... not him.
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