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The Closing Bell: U.S. Stocks Stabilize After Friday’s Selloff

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

FYI: U.S. stocks drifted between small gains and losses Monday, showing signs of stabilizing after a bruising end-of-week selloff.

The Dow Jones Industrial Average gained 14 points, or 0.6%, to 25516 after posting its biggest one-day slide since the start of the year. The S&P 500 lost 0.8% and the Nasdaq Composite declined 0.7%.

Fund managers may get more clarity on the health of the global economy in the next few days, with fourth-quarter gross domestic product readings from the U.S., U.K., France and Canada scheduled for release.

Stock trading was relatively quiet early Monday, with major indexes shifting between small gains and losses at the start of the trading session.

Apple shares fell 1.4% as the company unveiled a suite of services, including a videogame subscription service and a news-subscription app called Apple News Plus.

Biogen jumped 1.8% after announcing a $5 billion share repurchase program. Shares had tumbled Friday after the company said it would discontinue phase 3 trials of its Alzheimer’s treatment.

Elsewhere, the Stoxx Europe 600 fell 0.5% for its fourth consecutive session of declines, weighed down by declines among basic resources and technology companies.

The U.K.’s FTSE 100 fell 0.4% as traders continued to monitor uncertainty around Brexit.

Prime Minister Theresa May is facing fresh questions about whether she can stay in office long enough to see Brexit through, as lawmakers enter another critical week of decisions over the U.K.’s departure from the European Union.

Earlier, Japan’s Nikkei Stock Average shed 3% Monday, its biggest one-day decline of the year, while Hong Kong’s Hang Seng Index lost 2%.

Government bond yields slipped, with the yield on the 10-year U.S. Treasury note recently at 2.402%, compared with 2.459% Friday, its lowest level in more than a year.

Of the eleven S&P 500 five led by Consumer Discretionary and Consumer Staples finished in positive territory. Technology and Finanials led the other six down.

Regards
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-03-25/your-evening-briefing

MarketWatch:
https://www.marketwatch.com/story/us-stock-futures-indicate-fresh-losses-ahead-for-wall-street-2019-03-25/print

WSJ:
https://www.wsj.com/articles/stocks-drop-on-global-growth-worries-11553485990

Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-24/stocks-to-drop-in-asia-yields-fall-on-growth-woes-markets-wrap

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-finds-support-boeing-lifts-apple-drags/

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-falls-on-global-growth-worries-idUSKCN1R618S

CNBC:
https://www.cnbc.com/2019/03/24/wall-street-expects-big-rally-after-mueller-finds-trump-campaign-did-not-conspire-with-russia.html

U.K.:
https://www.marketwatch.com/story/london-markets-start-the-week-calmer-after-selloff-2019-03-25/print

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-pare-losses-following-upbeat-german-data-idUSKCN1R615W

Asia:
https://www.marketwatch.com/story/asian-markets-plunge-on-recession-fears-2019-03-24/print

Bonds:
https://www.cnbc.com/2019/03/25/us-bonds-treasury-yields-move-lower-ahead-of-economic-data-auctions.html

Currencies:
https://www.cnbc.com/2019/03/25/forex-market-dollar-moves-us-economy-in-focus.html

Oil:
https://www.cnbc.com/2019/03/25/oil-market-us-recession-fears-opec-supply-cuts-in-focus.html

Gold
https://www.cnbc.com/2019/03/25/gold-market-us-recession-fears-global-economy-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

  • @MFO Members IBD & Bloomberg Evening Briefing updated at 4:20 PM CDST
    Regards,
    Ted A.K.A. Night Owl
  • image ■ ■ ■ ■ ■ ■ ■ ■ THIS POST IS A VIOLATION OF MFO POSTING STANDARDS ■ ■ ■ ■ ■ ■ ■ ■ image

    ⇒ This post had few views and NO comments. In a slimy bit of work by Ted it has been deliberately "bumped" into the COMMENTS + section by the poster himself, without earning any legitimate qualifying comments.

    He deliberately and cynically does this with his BS "Update" comments so as to force this post "to the top of the board". He is well aware that this is in violation of MFO standard practice, but he believes that the rules for him are different than those for everyone else. He's just special.


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