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Gold Hits New High as Investors Look to Hedge Against Uncertainty

  • Gold Hits New High as Investors Look to Hedge Against Uncertainty Gold Hits New High as Investors Look to Hedge Against Uncertainty 1:39
2:18 a.m. Jan. 16, 2021 - By MarketWatch
These money and investing tips can help you give your portfolio free reinThese money and investing stories were popular with MarketWatch readers this past week.
6:59 a.m. Jan. 15, 2021 - By Michael Ashbaugh
Charting a (modest) market downturn, S&P 500 retests 20-day average Focus: Materials digest decisive January breakout, XLB, QCOM, ALK, CVX, RUNU.S. stocks are on the defensive early Friday, pressured amid a sell-the-news response to President-elect Joe Biden’s $1.9 trillion stimulus proposal, and after a mixed batch of quarterly earnings reports. The early downturn punctuates largely sideways week-to-date price action, and has thus far inflicted limited damage in the broad sweep.
6:48 a.m. Jan. 14, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt: Nasdaq, Dow industrials press record highs Focus: Homebuilders break out even amid rising interest rates, XHB, ZBRA, KSS, WSM, JNPR, FATEU.S. stocks are higher early Thursday, rising amid renewed optimism over fiscal-stimulus prospects. Against this backdrop, each big three U.S. benchmark has challenged its prevailing range top — levels defining record highs — amid a slow-motion breakout attempt.
5:35 a.m. Jan. 14, 2021 - By Myra P. Saefong
EIA data show a weekly fall of 134 billion cubic feet in U.S. natural-gas suppliesThe U.S. on Thursday that domestic supplies of natural gas declined by 134 billion cubic feet for the week ended Jan. 8. On average, the data were expected to show a drop of 123 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.196 trillion cubic feet, up 126 billion cubic feet from a year ago, and 218 billion cubic feet above the five-year average, the government said. Following the data, February natural gas was up 3.1 cents, or 1.1%, to $2.758 per million British thermal units. It traded at $2.761 .
6:48 a.m. Jan. 13, 2021 - By Michael Ashbaugh
Charting a bull flag: S&P 500 digests two standard deviation breakout Small- and mid-cap benchmarks extend statistically unusual 2021 breakoutU.S. stocks are mixed early Wednesday, largely treading water in the wake of powerful breakouts, registered last week. Against this backdrop, each big three U.S. benchmark has asserted a bull flag — a relatively tight four-session range — amid a still comfortably bullish bigger-picture backdrop.
12:01 p.m. Jan. 12, 2021 - By MarketWatch
API sees 5.8 million barrel fall in U.S. oil inventories: reportsU.S. oil inventories fell by 5.8 million barrels last week, the American Petroleum Institute, an industry group, reported Tuesday, according to news reports. The API also reportedly saw a 1.9 million barrel rise in gasoline stocks and a 4.4 million barrel increase in distillate stocks. The Energy Information Administration's more closely followed data is due Wednesday morning. Analysts surveyed by S&P Global Platts expect the EIA data to show crude inventories fell 3.8 million barrels, while gasoline stocks are expected to show a rise of 3.2 million barrels and distillate stocks are seen up 2.8 million barrels. Oil futures rose in electronic trading after the data. West Texas Intermediate crude for February delivery traded at $53.30 a barrel on the New York Mercantile Exchange, up from its close at $53.23 a barrel on Tuesday afternoon.
7:53 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
7:52 a.m. Jan. 12, 2021 - By William Watts
Corn, soybean futures soar to more-than-6-year highs after USDA dataCorn and soybean futures surged Tuesday after the U.S. Department of Agriculture's January World Agricultural Supply and Demand Estimates, or WASDE, slashed projected ending stocks for both commodities, reflecting cuts to last year's U.S. production estimates and a worsening outlook for South American crops. March corn futures jumped 25 cents, the daily limit, to $5.17 1/4 a bushel, a gain of 5.1%. March soybean futures were up 48 3/4 cents, or 3.5%, to $14.21 a bushel. Both corn and soybean futures traded at the highest level for most actively traded contracts since mid-2014, according to FactSet.
7:29 a.m. Jan. 12, 2021 - By Michael Ashbaugh
Charting a decisive 2021 breakout: U.S. benchmarks clear 20-day volatility bands Focus: Rising interest rates and energy prices signal reflation trade, 10-year yield and crude oil take flight, TNX, USO, AMD, SEDG, CSCOTechnically speaking, the major U.S. benchmarks have asserted a near-term holding pattern, pulling in modestly from all-time highs. Still, the slight downturn punctuates previously aggressive January breakouts amid a still comfortably bullish bigger-picture backdrop.
7:06 a.m. Jan. 11, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests break top 20-day volatility bands Focus: Gold violates key trendline, Transports challenge record highs, GLD, IYT, CHGG, AMBA, NXST, MU.S. stocks are lower early Monday, pressured modestly to punctuate an otherwise strong January start. Against this backdrop, each major U.S. benchmark is digesting last week’s statistically unusual breakout, pulling in from previously uncharted territory.
11:38 a.m. Jan. 9, 2021 - By MarketWatch
These money and investing tips can help your portfolio stand up to the market’s shakes and shiftsThese money and investing stories were popular with MarketWatch readers over the past week.
7:01 a.m. Jan. 8, 2021 - By Michael Ashbaugh
Charting a strong January start, big three U.S. benchmarks tag record highs Focus: Metals & Mining ETF digests decisive breakout, Energy sector presses key resistance, XME, XLE, TDOC, DLTR, PLUGU.S. stocks are mixed early Friday, vacillating after a softer-than-expected monthly jobs report. The sluggish start punctuates otherwise bullish early-January price action, amid a rally placing each big three U.S. benchmark at its latest record high.
11:10 a.m. Jan. 7, 2021 - By Mark DeCambre
Dow, S&P 500, Nasdaq book milestone and record-high finishes as tech stocks surge a day ahead of key jobs reportU.S. stocks on Thursday booked a trifecta of milestones and record closing highs, logging a remarkable finish, considering political unrest that rattled the world a day ago but failed to derail the updraft for the stock market. The Dow Jones Industrial Average [: DJIA] closed up 0.7% to end at a milestone above 31,000, the S&P 500 index ended 1.5% to a milestone above 3,800, to close at around 3,804, while the Nasdaq Composite Index finished well above 13,000, propelled by a reinvigoration of appetite for technology names following a weak performance for the index on Wednesday following the Georgia runoff Senate elections. The Nasdaq Composite closed up 2.6% to 13,067. Investors largely looked past Wednesday's violent clash between pro- Trump protesters and focused on better-than-expected nonmanufacturing reports, with the Institute for Supply Management services index rising staging an unexpected rebound in its index to 57.2 in December, from 55.9. On top of that, weekly jobless claims were nearly steady last week, slipping to 787,000 from a revised 790,000 the prior week. In corporate news, Tesla Inc. finished at a record high helping to make CEO Elon Musk the richest man in the world, surpassing Amazon.com's Jeff Bezos. Investors will be closely watching Friday's jobs report for clues on the health of the economy amid the COVID-19 pandemic.
6:54 a.m. Jan. 7, 2021 - By Michael Ashbaugh
Charting January breakouts, U.S. benchmarks tag round-number milestones Focus: Financials and regional banks take flight amid surging Treasury yields, Health care sector tags record highs, XLF, KRE, XLV, AMAT, SWKS, DXCMU.S. stocks are firmly higher early Thursday, rising to punctuate an early-week whipsaw. Against this backdrop, each big three U.S. benchmark has tagged its latest record high as well as a round-number milestone — S&P 3,800, Nasdaq 13,000 and Dow 31,000.
5:35 a.m. Jan. 7, 2021 - By Myra P. Saefong
Natural-gas futures move higher as U.S. weekly supplies fall by 130 billion cubic feetThe U.S. on Thursday that domestic supplies of natural gas declined by 130 billion cubic feet for the week ended Jan. 1. On average, the data were expected to show a drop of 139 billion cubic feet for the week, according to analysts polled by S&P Global Platts. Total stocks now stand at 3.330 trillion cubic feet, up 138 billion cubic feet from a year ago, and 201 billion cubic feet above the five-year average, the government said. Following the data, February natural gas was up 2.9 cents, or 1.1%, to $2.745 per million British thermal units. It traded at $2.711 .
7:00 a.m. Jan. 6, 2021 - By Michael Ashbaugh
Charting a bullish reversal, S&P 500 challenges record highs Focus: 10-year yield takes flight, Oil & Gas Exploration ETF extends uptrend, TNX, XOP, DVN, AA, LITEU.S. stocks are higher early Wednesday, rising as Treasury yields take flight amid a receding U.S. election overhang. Against this backdrop, the S&P 500 has tagged a nominal record high early Wednesday, while the Dow industrials have broken more firmly to record territory, rising within view of the 31,000 mark.
5:45 a.m. Jan. 6, 2021 - By Mark DeCambre
Dow industrials surge to record high Wednesday near 31,000 as investors digest Democratic win in GeorgiaThe Dow Jones Industrial Average [: DJIA] touched an intraday record on Wednesday as investors bet that the Democrats were poised to take control of the Senate following early results from Georgia's runoff elections. The tech-heavy Nasdaq Composite also briefly edged higher after opening with short losses on Wednesday shortly after the opening bell on expectations for higher taxes and tighter regulations on tech giants. On top of that, government bond yields were surging, suggesting higher costs for businesses and also provide some resistance for investors weighing buying bonds versus stocks. The Dow was up over 400 points late-morning Monday at 30,804, propelled by a surge in banks, including Goldman Sachs Group Inc. , JPMorgan Chase & Co. and American Express Co. , which were benefiting from rates rising, with the 10-year Treasury yield note [: TMUBMUSD10Y] hitting its highest level since March in early trade around 1.05%. The Nasdaq Composite was up about 0.1% at 12,832 after hitting an intraday low at 12,649.99, while the S&P 500 index gained 0.9% to reach 3,759, trading in record territory and just about 10 points shy of its intraday record high at 3,769.99. Democrat Raphael Warnock defeated incumbent Republican Kelly Loeffler for one U.S. Senate seat and Democrat Jon Ossoff held a narrow lead over Republican Sen. David Perdue in the other race, according to the Associated Press. A Democratic sweep of both seats in Georgia would give the party control of the Senate as Vice President-elect Kamala Harris would cast tiebreaking votes as the chamber's president.
5:35 a.m. Jan. 6, 2021 - By Myra P. Saefong
Oil futures head higher after EIA reports an 8 million-barrel weekly drop in U.S. crude suppliesOil futures headed higher on Wednesday after the that U.S. crude inventories fell by 8 million barrels for the week ended Jan. 1. That compared with the decline of 1.2 million barrels forecast by IHS Markit analysts. The reported a 1.7 million-barrel fall in crude supplies, according to sources. The EIA data also showed crude stocks at the Cushing, Okla., storage hub edged up by 800,000 barrels for the week. Gasoline supply, meanwhile, climbed by 4.5 million barrels, while distillate stockpiles were up by 6.4 million barrels. IHS Markit had forecast supply increases of 1.4 million for gasoline and 2.2 million for distillates. February West Texas Intermediate crude rose, trading up by 38 cents, or 0.8%, at $50.31 a barrel on the New York Mercantile Exchange. Prices traded at $49.89 .
11:45 a.m. Jan. 5, 2021 - By Myra P. Saefong
API reports a 1.7 million-barrel weekly decline in U.S. crude supplies, sources sayThe American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 1.7 million barrels for the week ended Jan. 1, according to sources. The data also reportedly showed gasoline stockpiles up by 5.5 million barrels, while distillate inventories climbed by 7.1 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, edged up by 1 million barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. Analysts at IHS Markit expect the EIA to report a decline of 1.2 million barrels in crude supplies. They also expect inventory increases of 1.4 million for gasoline and 2.2 million for distillates. February West Texas Intermediate crude was at $49.88 a barrel in electronic trading, compared with on the New York Mercantile Exchange.
7:55 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, though the initial downturn has inflicted limited damage, writes Michael Ashbaugh.
7:21 a.m. Jan. 5, 2021 - By Michael Ashbaugh
Charting a bull-trend whipsaw, S&P 500 absorbs pullback from record highs Focus: Gold’s trendline breakout, Semiconductor sector challenges record highs, GLD, SMH, CRUS, FEYE, WPMTechnically speaking, the major U.S. benchmarks have whipsawed to start the new year, pulling in respectably from recent record highs. Against this backdrop, the S&P 500 has reversed to its former December range, though amid a downturn that has inflicted limited damage in the broad sweep.
7:24 a.m. Jan. 4, 2021 - By Mark DeCambre
Dow knives 2% lower in 2021 toward worst daily drop in over 2 months amid selloff in COVID-stricken manufacturing stocksU.S. stocks on Monday turned sharply lower, with the Dow Jones Industrial Average headed for its worst day since late October, amid accelerating cases of COVID-19 and weakness in manufacturing stocks and beverage makers. The Dow was down 649 points, or 2.1%, lower at 29,960, on track for its worst one-day slide since Oct. 28, according to FactSet data. The S&P 500 index was trading 2.2% lower at 3,673, while the Nasdaq Composite Index retreated 2.4% to start trade in 2021. Shares of Coca-Cola Co. were trading sharply lower as were those for Boeing Co. , both blue-chip components that were weighing on the Dow.
7:10 a.m. Jan. 4, 2021 - By Michael Ashbaugh
Charting a shaky 2021 start: S&P 500 sells off from record highs Focus: Emerging markets challenge 12-year highs, Micron tags 20-year peak, EEM, MU, CHKP, SYNA, CDAYU.S. stocks are firmly on the defensive early Monday, pressured amid an inauspicious 2021 start — at least for the very near-term. The early downturn punctuates an otherwise constructive 2020 finish, placing each big three U.S. benchmark at, or near, its latest record high.
4:35 a.m. Jan. 4, 2021 - By Mark DeCambre
Dow, S&P 500 kick off first trade in 2021 at record highs U.S. stocks briefly rose to records on Monday, the first major trading day of 2021 on hopes that continued government stimulus and the rollout of coronavirus vaccines will help propel stocks to fresh records. The Dow Jones Industrial Average rose to an intraday high at 30,674.28, while the S&P 500 index also notched an intraday all-time high at 3,769.99. The Nasdaq Composite Index traded up 0.4% at 12,934.
10:08 a.m. Dec. 31, 2020 - By MarketWatch
These money and investing tips can help you face 2021 in a cool, calm and collected wayThese money and investing stories were popular with MarketWatch readers over the past week.
4:32 a.m. Dec. 31, 2020 - By Mark DeCambre
Dow industrials kick of trade on a subdued note in 2020's final sessionU.S. stocks started the final trading session in the week, month, quarter and year on a muted note, as indexes aimed to cap a tumultuous but historic period for markets, and the global economy, that has been stricken by the COVID-19 pandemic. Most financial markets are expected to be closed on Friday in observance of New Year's Day and the trading on Thursday were slated to be relatively muted. The Dow Jones Industrial Average declined less than 0.1% at 30,398, the S&P 500 index edged up less than 0.1% at 3,732, while the Nasdaq Composite Index advanced less than 0.1% at 12,879.
11:07 a.m. Dec. 30, 2020 - By Mark DeCambre
Dow ends at record high as investors focus on vaccine roll-outU.S. equity markets booked modest gains on Wednesday, with investors buying energy and materials stocks in the second-to-last day of 2020 for Wall Street. The modest gains were sufficient to help the Dow Jones Industrial Average rise 0.2%, or about 73 points, to a new closing record at around 30,410 (based on preliminary levels], while the S&P 500 gained 0.1% to reach 3,732 and the Nasdaq Composite Index added 0.2% to close at 12,870. Trading in the final days of a virus-stricken 2020 has been mostly upward, propelled in large part by optimism surrounding the rollout of coronavirus vaccines and the passage of the new $900 billion fiscal stimulus package, which have helped buoy sentiment.
5:46 a.m. Dec. 30, 2020 - By William Watts
Oil remains higher after larger-than-expected fall in crude inventoriesOil futures remained higher in a choppy trading session Wednesday, after the Energy Information Administration reported a larger-than-expected drop in U.S. crude inventories last week. The EIA said crude stocks dropped by 6.1 million barrels in the week ended Dec. 25. Analysts surveyed by S&P Global Platts, on average, had looked for crude stocks to fall by 3.8 million barrels, while the American Petroleum Institute, an industry trade group, on Tuesday had reportedly saw a 4.8 million barrel drop. The EIA said gasoline inventories fell by 1.2 million barrels, while distillate inventories rose 3.1 million barrels. Analysts surveyed by S&P Global Platts had expected gasoline inventories to show a rise of 2.3 million barrels and distillate stocks to rise by 1.3 million barrels. West Texas Intermediate crude for February delivery was up 34 cents, or 0.7%, at $48.34 a barrel on the New York Mercantile Exchange.
2:22 p.m. Dec. 29, 2020 - By MarketWatch
API sees 4.8 million barrel fall in U.S. oil inventories: reportsThe American Petroleum Institute on Tuesday reported that U.S. crude inventories fell 4.8 million barrels last week, . API reportedly saw a 718,000 barrel drop in gasoline inventories and a 1.88 million barrel fall in distillate stocks. Official figures from the Energy Information Administration are due Wednesday morning. Analysts surveyed by S&P Global Platts, on average, look for crude stocks to fall by 3.8 million barrels, while gasoline inventories are expected to show a rise of 2.3 million barrels and distillate stocks are seen up 1.3 million barrels. West Texas International crude for February delivery was changing hands at $48.10 a barrel in electronic trade, up from its earlier settlement at $48 ahead of the API data.
8:47 a.m. Dec. 28, 2020 - By Mark DeCambre
Gold settles lower to start last week in 2020, succumbing to bounce in stocks, U.S. dollars Gold futures finished slightly lower Monday, snapping a two-session win streak, giving up early gains in a choppy trading session as investors deemed some firmness in the U.S. dollar and a global stock rally sufficient headwinds for bullion. Gold prices had briefly scored a modest bounce toward its highest level in about six weeks intraday after President Donald Trump signed a coronavirus relief package over the weekend, ending a brief standoff between the White House and Congress. Bullion is viewed as a hedge against devaluation of dollars and large deficits being run up by governments to curb the harmful economic effects of the COVID-19 pandemic. However, some metals dealers believe that the fiscal-spending package, which includes around $900 billion in relief for American companies and workers, was largely priced into gold's recent advance toward a psychological round-number level at $1,900. Gains for the Dow Jones Industrial Average and the S&P 500 index also may be tempering enthusiasm for haven assets as those perceived as risky ride higher in 2020's final trading week. February gold finished off $2.80, or 0.1%, to end at $1,880.40 an ounce.
6:40 a.m. Dec. 23, 2020 - By Michael Ashbaugh
Charting a bullish 2020 finish, S&P 500 digests break to record territory Focus: Biotech sector extends late-year breakout, Apple approaches record territory, IBB, AAPL, LITE, RUN, SWAVTechnically speaking, the major U.S. benchmarks are closing out 2020 on a largely bullish note. Consider that wide-ranging, and at times, historically volatile early-year price action, has been punctuated by an orderly December range, as each big three U.S. benchmark digests a recent break to all-time highs.
5:43 a.m. Dec. 23, 2020 - By Mark DeCambre
Oil prices hold sharp gains as weekly EIA inventory report shows 562,000-barrel fall in crude supplies The Energy Information Administration reported Wednesday morning that U.S. crude inventories fell by 562,000 barrels for the week ended Dec. 18. That compared with the average decline of 4.7 million barrels forecast by analysts polled by S&P Global Platts. The American Petroleum Institute on Tuesday reported that U.S. crude supplies rose by 2.7 million barrels for the week, according to sources. The EIA data also showed crude stocks at the Cushing, Okla., storage hub edged down by 26,000 barrels for the week. Gasoline supply, meanwhile, declined by 1.125 million barrels, while distillate stockpiles fell by 2.325 million barrels. S&P Global Platts had forecast a supply increase of 1.4 million barrels for gasoline and a drawdown of 1.1 million barrels in distillates. February West Texas Intermediate oil [s:CLG21] were trading up 1.5% at $47.76 a barrel.
2:11 p.m. Dec. 22, 2020 - By Mark DeCambre
API reports 2.7 million-barrel weekly climb in U.S. crude suppliesThe American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 2.7 million barrels for the week ended Dec. 18, according to sources. The data also reportedly showed gasoline stockpiles shrank by 224,000 barrels, while distillate inventories rose by 1.03 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, climbed by 341,000 barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA data are expected to have declined by 4.7 million barrels to around 495.4 million barrels ending Dec, 18, according to a survey of analysts conducted by S&P Global Platts, which also forecasts supply increases of 1.4 million barrels for gasoline and a drawdown of 1.1 million barrels in distillates. February West Texas Intermediate crude was trading at $46.86 a barrel in electronic trading on Tuesday, compared with Tuesday's settlement at $47.02 a barrel on the New York Mercantile Exchange.
8:43 a.m. Dec. 22, 2020 - By Mark DeCambre
Gold logs sharpest one-day slide in two weeksGold futures on Tuesday logged their first consecutive losses in about two weeks, marking the steepest slide for the metal since early December, as a perkier U.S. dollar and an attempted rebound in equities kept the haven metal under selling pressure in the session. February gold closed off $12.50, or 0.6%, to settle at $1,870.30 an ounce, producing the first consecutive declines and the sharpest slide since early Dec. 9, FactSet data show. The dollar rose 0.6% on the day, as measured by the ICE U.S. Dollar Index , and is one pace for a weekly gain of 0.7%. A stronger dollar can be a headwind for assets priced in the currency like precious metals. Meanwhile, stocks were trying to recovery from volatile trading on Monday that was sparked by worries about a new more transmissible strain of coronavirus spreading from the U.K.
8:04 a.m. Dec. 22, 2020 - By Michael Ashbaugh
Charting a bullish backdrop as the S&P 500’s wild 2020 ride concludes Focus: Silver extends trendline breakout, JPMorgan Chase challenges key resistance, SLV, JPM, COUP, PAGS, CSIQTechnically speaking, the major U.S. benchmarks have pulled in from recent record highs amid still largely bullish year-end price action, writes Michael Ashbaugh.
7:34 a.m. Dec. 22, 2020 - By Michael Ashbaugh
Charting a bullish backdrop as the S&P 500’s wild 2020 ride concludes Focus: Silver extends trendline breakout, JPMorgan Chase challenges key resistance, SLV, JPM, COUP, PAGS, CSIQTechnically speaking, the major U.S. benchmarks have pulled in from recent record highs amid still largely bullish year-end price action. Against this backdrop, the S&P 500 has maintained major support (3,646) rising respectably from its second successful retest in as many weeks.
7:12 a.m. Dec. 21, 2020 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 retests the breakout point Focus: Materials sector sustains late-year breakout, XLB, DE, LPSN, BLDP, UTHRU.S. stocks are lower early Monday, though well off the session’s worst levels, pressured amid renewed virus concerns. Against this backdrop, the S&P 500 has extended a downturn from record highs, pulling in to a second — and thus far successful — test of its breakout point (3,646).
4:37 a.m. Dec. 21, 2020 - By Mark DeCambre
Dow loses grip on 30,000 early Monday as investors worry about coronavirus spread; Tesla sees first trade as S&P 500 memberU.S. stocks early Monday opened lower to start Christmas week as coronavirus stimulus deal overshadowed worries over a new COVID-19 strain in Europe. The Dow Jones Industrial Average was trading 200 points, or 0.7%, lower at 29,985, the S&P 500 retreated 1% to reach 3,673. The Nasdaq Composite Index lost 102 points, or 0.8%, early Monday to reach 12,652. Congressional efforts toward a fresh aid package to combat the detrimental economic effects of the pandemic were coupled with a roughly $1.4 trillion annual fiscal spending package, with lawmakers set to vote on a bill later Monday. However, investors are focused on tightened lockdown measures in London, where reports of a novel strain of the coronavirus that causes COVID-19 has rattled investor confidence. Markets also are focused on Tesla Inc. , which is seeing its first trading day as an S&P 500 member.
6:54 a.m. Dec. 18, 2020 - By Michael Ashbaugh
Bull trend pauses: U.S. benchmarks digest rally to latest record close Focus: Homebuilders edge to record territory, XHB, SHOP, PLUG, CYBR, FLT, APLSU.S. stocks are lower early Friday, pressured to conclude otherwise constructive week-to-date price action. Against this backdrop, each big three U.S. benchmark has pulled in relatively modestly from its latest record close.
7:04 a.m. Dec. 17, 2020 - By Michael Ashbaugh
Charting bullish follow-through: S&P 500, Nasdaq scratch out record highs Focus: Silver’s trendline breakout, Okta tags uncharted territory, SLV, OKTA, CALX, ESTC, CERNU.S. stocks are higher early Thursday, rising amid continued optimism over fiscal-stimulus prospects. In the process, the S&P 500 and Nasdaq Composite have rallied to tag their latest record peaks, though in characteristically grinding-higher form.
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