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What a Global Economic Slowdown Means for the U.S.

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12:52 p.m. Aug. 5, 2020 - By Sunny Oh
Treasury yields climb on strong services data, increased debt issuanceU.S. Treasury yields rose Wednesday after strong U.S. economic data and expectations for increased debt issuance weighed on appetite for government bonds.
12:06 p.m. Aug. 5, 2020 - By Mark DeCambre
Dow books 373-point gain, Nasdaq marks 31st record and S&P 500 ends 1.7% from its all-time high as everything ralliesU.S. stocks ended at or near records Wednesday, with the S&P 500 finishing within a stone's throw of its February all-time high and the Nasdaq Composite notching its 31st record high of 2020. Hope of further stimulus from the U.S. government to help out-of-work Americans was attributed to some of the upbeat trade on Wall street, even as some of the data have come in weaker than expected, setting the stage for a jobs report on Friday that may underscore that a rise in infections of COVID-19 stalled out some of the recent resurgence in business activity created by social-distancing measures to contain the virus. Payroll provider Automatic Data Processing Inc. also said only 167,000 private-sector jobs were created in July, far short of the 1.88 million forecast by economists polled by Econoday. However, a reading of services from the Institute for Supply Management service sector index jumped to a reading of 58.1 in July, beating expectations and signalling stronger economic growth. Deal activity also sparked some optimism as Teladoc Health Inc. and Livongo Health Inc. said Wednesday they have agreed to merge in a deal valued at $18.5 billion to create a company that can serve a spectrum of health needs, using virtual care. A nearly 9% surge in shares of Walt Disney Co. following its quarterly results, also helped to lift the Dow and the broader market. The Dow Jones Industrial Average closed up about 373 points, or 1.4%, at 27,201, representing its highest closing level since June 8. The S&P 500 index finished 0.6% higher at around 3,328, putting the broad-market benchmark 1.71% off its Feb. 19 record high at 3,386.15, while the Nasdaq Composite Index closed up 0.5% to 10,992, briefly touching the psychologically round-number level at 11,000 intraday and marking another record finish. The tech-heavy index has closed higher six straight sessions. Gaines for equities also came as gold prices finished at a record near 2,050, based on futures for December delivery , highlighting some concerns about the pace of stock gains and the outsize sums that governments have doled out to limit the harm from the COVID-19 pandemic.
7:59 a.m. Aug. 5, 2020 - By Michael Ashbaugh
Charting bullish follow-through: S&P 500 nails next resistance (3,328) Focus: Gold’s decisive break to record highs, GLD, VZ, CRM, RUN, CDEU.S. stocks are higher early Wednesday, rising amid optimism over a pending fiscal stimulus package and following a batch of well received earnings reports. Against this backdrop, the S&P 500 has extended its August breakout — rising to tag next resistance (3,328) — while the Nasdaq Composite continues to register record highs.
5:58 a.m. Aug. 5, 2020 - By Mark DeCambre
S&P 500 trades within 2% of record high as Wall Street focuses on Disney subscriber growth and hope for fresh round of coronaviirus aidU.S. stocks rose at the start of trading Wednesday as corporate earnings results continued to roll in, and investors pored over a disappointing jobs report from payroll provider Automatic Data Processing Inc. . The payroll company said only 167,000 private sector jobs were created in July, short of the consensus estimate for a gain of 1.88 million jobs, according to Econoday. However, better-than-expected quarterly results late Tuesday from Dow component and entertainment and theme park giant Walt Disney Co. , even though it reported a $3.5 billion loss, helped to fuel some bullishness in markets. On top of that, the Federal Reserve's No. 2, Richard Clarida, told CNBC that he's sticking to his prior forecast of an improving economy over the remainder of the year. The Dow Jones Industrial Average rose 266 points, or 1%, at 27,094, around its highest level since June 8, while the S&P 500 index gained 0.6% to 3,326, putting the broad-market benchmark within 2% of its Feb. 19 record high at 3,386.15. The Nasdaq Composite Index , meanwhile, rose 0.3% to 10,978, which puts the tech-heavy index on pace for its 31st record close of 2020, which would already match last year's full-year record tally for the gauge. Wall Street drew some optimism from report late Tuesday reports suggested congressional leaders are working to reach a coronavirus-aid bill deal by the end of the week.
8:38 a.m. Aug. 4, 2020 - By Michael Ashbaugh
Charting a solid August start: S&P 500, Nasdaq stage latest summer breakouts Focus: Transports approach key technical test, Costco’s slow-motion breakout attempt, IYT, COST, FEYE, TER, AMKRTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish amid a solid August start, writes Michael Ashbaugh.
8:06 a.m. Aug. 4, 2020 - By Michael Ashbaugh
Charting a solid August start: S&P 500, Nasdaq stage latest summer breakouts Focus: Transports approach key technical test, Costco’s slow-motion breakout attempt, IYT, COST, FEYE, TER, AMKRTechnically speaking, the U.S. benchmarks’ bigger-picture backdrop remains bullish amid a solid August start. On a headline basis, the Nasdaq Composite has rallied to record highs — reaching previously uncharted territory — while the S&P 500 has tagged five-month highs, breaking from a jagged July range.
12:25 p.m. Aug. 3, 2020 - By Mark DeCambre
Nasdaq ends at record as stocks rally after pickup in manufacturing activity to kick off August Microsoft shares rallied amid its efforts to buy U.S. portion of TikTok from China’s ByteDanceU.S. stocks rise Monday to kick off the first trading day of August as investors were heartened by upbeat manufacturing data, even as talks appeared stalled over another round of coronavirus stimulus.
8:01 a.m. Aug. 3, 2020 - By Michael Ashbaugh
Charting an August breakout attempt, Nasdaq rallies to record territory Focus: Utilities press key resistance amid easing yields, Apple and Facebook sustain breaks to uncharted territory, XLU, AAPL, FB, SCCO, JBLU.S. stocks are firmly higher early Monday, rising to start August amid a rotation back toward large-cap technology. Against this backdrop, the Nasdaq Composite has tagged its latest record high early Monday, while the S&P 500 has reached five-month highs, breaking from a jagged July range.
6:55 a.m. Aug. 3, 2020 - By Mark DeCambre
S&P 500 hits highest level in 5 1/2 months as technology and health-care stocks rally--but other sectors slumpThe S&P 500 index early Monday was climbing, pushing the broad-market benchmark to around its highest trading level since Feb. 21 at its intraday peak. The gains in the index were being powered by a rally in information technology shares and those for health care but the S&P 500's other nine sectors were trading in negative territory. Most recently, the S&P 500 was up 0.5% at 3,286 and had hit a peak at 3,292, which would mark its highest close since Feb. 21, according to FactSet data. Meanwhile, the Nasdaq Composite Index was trading in record territory, and hit an intraday peak, as a trend of gains in tech-related stocks continued. Meanwhile, Microsoft Corp. were powering the Dow Jones Industrial Average to gains after the tech giant said it was considering the purchase of the U.S. operations of TikTok, a Chinese-owned company.
10:27 a.m. Aug. 1, 2020 - By Philip van Doorn
5 stocks that should thrive as the digital payments trend ramps up Gert van der Geer of Pictet Asset Management focuses on 12 long-term global trendsGert van der Geer of Pictet Asset Management focuses on 12 long-term global trends.
4:11 a.m. Aug. 1, 2020 - By Myra P. Saefong
Silver: poor man’s gold no more? Prices for the metal trade 25% higher for July Investors have focused on a rise in record prices for gold, but silver’s up nearly 25% in July—the metal’s second-biggest monthly gain on record—and it’s still undervalued compared with the yellow metal.
11:08 a.m. July 31, 2020 - By Barbara Kollmeyer
Gold reclaims perch at record, notches best monthly gain in 8 yearsGold prices settle sharply higher Friday, shaking off its first losing day in 10 sessions on Thursday as investors, wary of growing economic troubles around the globe, seek exposure to the perceived safe-haven asset.
8:04 a.m. July 31, 2020 - By Michael Ashbaugh
Charting market re-rotation, Nasdaq turns higher amid Apple’s breakout Focus: 10-year yield reaches major technical test, TNX, SHOP, CYBR, AGCO, AMAGU.S. stocks are mixed early Friday, vacillating amid a rotation back toward large-cap technology after Apple’s blowout earnings report. Against this backdrop, the S&P 500 and Nasdaq Composite remain range-bound to conclude July against a still comfortably bullish bigger-picture backdrop.
7:28 a.m. July 31, 2020 - By Ciara Linnane
Coronavirus update: Pandemic will continue for some time, experts tell Congress as U.S. case tally nears 4.5 million Big tech quartet chalk up $29 billion in earnings and almost $200 billion in sales despite pandemic and antitrust scrutinyWith close to 4.5 million Americans confirmed to have been infected with the coronavirus illness COVID-19, the pandemic will continue for some time, public health officials will tell Congress on Friday, underscoring the importance of following their recommendations on face masks, frequent hand washing and social distancing.
7:12 a.m. July 31, 2020 - By Barbara Kollmeyer
European stocks turn lower as investors juggle tech optimism and economic gloom Nokia climbs after results European stocks drop on the final trading day of the month, as economic worries overshadow upbeat earnings in the U.S. and Europe.
6:51 a.m. July 31, 2020 - By Barbara Kollmeyer
Buy stock dips because the S&P 500 could ‘easily’ reach 3,500 next year, says Credit Suisse Critical information for the U.S. trading dayOur call of the day, from Andrew Garthwaite, Credit Suisse’s global equity strategist, has a list of reasons why investors should keep buying any dip in stocks.
5:35 a.m. July 31, 2020 - By Mark DeCambre
Nasdaq Composite kicks off last trade in July higher as tech earnings lift stocks but coronavirus stimulus-bill worries persistU.S. stocks opened higher Friday morning in the last day of July after Apple and Amazon delivered strong earnings and Google parent Alphabet and Facebook topped expectations. However the lack of progress in Congress on another financial aid bill, the ongoing rise in coronavirus cases, and Thursday's discouraging labor market data are all factors which may limit gains. The Dow Jones Industrial Average rose 50 points, or 0.2%, at 26,363, the S&P 500 index 0.6% at 3,263, while the technology-heavy Nasdaq Composite Index advanced 1.4% to 10,734. In economic data, personal spending jumped 5.6% in June, the government said Friday, after a revised 8.5% advance in May. Incomes fell 1.1% - somewhat more than expected - owing to reduced federal aid for families. In corporate news, shares of Apple , Amazon.com , Facebook Inc. and Google parent Alphabet Inc. were trading higher after producing better-than-expected results amid the COVID-19 pandemic.
7:52 a.m. July 30, 2020 - By Michael Ashbaugh
Charting a GDP-fueled downdraft, Dow industrials challenge 200-day average Focus: Transports sustain July break atop 200-day average, IYT, TWLO, BSX, PENN, HOMEU.S. stocks are lower early Thursday, pressured after an ugly second-quarter GDP report, signaling an economy contracting at a record 32.9% annual pace. Against this backdrop, the S&P 500 has maintained its range bottom — the 3,200 mark — while the Dow industrials have pulled in to a headline test of the 200-day moving average, currently 26,230.
8:10 a.m. July 29, 2020 - By Michael Ashbaugh
Bull trend pauses: S&P 500 traverses the range Focus: Mid-year currency cross currents persist, UUP, FXE, FXY, PG, TGT, UALU.S. stocks are higher early Wednesday, rising ahead of the Federal Reserve’s latest policy statement, due out this afternoon. Against this backdrop, the S&P 500 remains range-bound, for now, though its intermediate-term path of least resistance continues to point higher.
5:51 a.m. July 29, 2020 - By Barbara Kollmeyer
European stocks struggle amid earnings rush and as Fed decision looms Deutsche Bank, Santander, Barclays among stocks on the move European stocks tilted mostly lower on Wednesday as investors waded through a ton of corporate results, largely from big banks. A Federal Reserve decision is expected later.
12:08 p.m. July 28, 2020 - By MarketWatch
Dow ends 205 points lower as tensions around coronavirus aid package grow ahead of Fed policy update U.S. stocks finished lower Tuesday as investors reacted in part to a lack of a progress toward a fresh coronavirus aid package and investors awaited a policy update from the Federal Reserve at the conclusion of their gathering on Wednesday. The Dow Jones Industrial Average finished off 205 points, or 0.8%, lower at about 26,379, the S&P 500 index closed 0.7% lower at 3,218, while the Nasdaq Composite Index declined 1.3% at about 10,403, as large-capitalization tech stocks took it on the chin, a number of which are slated to report results in the coming days. Negotiations between Democrats and Republicans, meanwhile, centered on further stimulus to help individuals economically harmed by the pandemic, are shaping up to be a contentious one. Democratic House Speaker Nancy Pelosi said on Monday that GOP leaders who brought a roughly $1 billion aid proposal to the table are "not really ready to have a serious negotiation." Democrats are eager to maintain the existing $600 weekly supplement, while the Republican plan would reduce it to a $200 add-on through September. The supplemental jobless benefits are due to expire at the end of the month. Meanwhile, Federal Reserve is set to conclude a two-day policy meeting Wednesday that's unlikely to result in much action, but is expected to see Chairman Jerome Powell underline a willingness to take further measures to support the economy and maintain easy financial conditions. In corporate news, Pfizer Inc. shares were up 3.9% after beating earnings and revenue expectations and raising its full-year outlook, while shares of McDonald's Corp. were off 2.5% after the fast-food chain reported earnings that fell short of Wall Street forecasts.
11:08 a.m. July 28, 2020 - By Ciara Linnane
Coronavirus update: U.S. case tally climbs above 4.30 million as Texas becomes fourth state with more than 400,000 cases Pfizer, McDonald’s, 3M and Raytheon Technologies are latest Dow components to report earnings with mixed resultsThe U.S. tally for confirmed cases of the coronavirus illness COVID-19 climbed above 4.30 million on Tuesday, and the death toll exceeded 148,000, after Texas became the fourth state with more than 400,000 cases, joining California, Florida and early hot spot New York.
8:44 a.m. July 28, 2020 - By Michael Ashbaugh
Charting a (bullish) holding pattern, S&P 500 digests break to 5-month highs Focus: Semiconductor sector tags record high, Metals & Mining sector reclaims 200-day average, South Korea’s breakout attempt, SMH, XME, EWY, NFLX, HCAThe major U.S. benchmarks are acting well technically, though amid increasingly sideways late-July price action, writes Michael Ashbaugh.
8:13 a.m. July 28, 2020 - By Michael Ashbaugh
Charting a (bullish) holding pattern, S&P 500 digests break to 5-month highs Focus: Semiconductor sector tags record high, Metals & Mining sector reclaims 200-day average, South Korea’s breakout attempt, SMH, XME, EWY, NFLX, HCABroadly speaking, the U.S. benchmarks are acting well technically, though amid increasingly sideways late-July price action.
6:39 a.m. July 28, 2020 - By Barbara Kollmeyer
Goldman Sachs has a new blowout forecast for gold Critical information for the U.S. trading dayOur call of the day is a bullish one from Goldman Sachs, which is upping the ante for those betting on stronger gold prices sticking around.
12:09 p.m. July 27, 2020 - By Mark DeCambre
Dow, S&P 500 close higher and Nasdaq jumps 1.7% to start the week as tech stocks soar along with gold U.S. stock benchmarks finished higher Monday, powered by a rally in technology and e-commerce shares ahead of earnings from biggies, including Facebook , Apple , and Amazon.com in the coming week. Thus far, those companies have helped to lead the Nasdaq to fresh records and propelled the broader market higher because those companies have an outsize influence on the overall market by dint of their market capitalization. Large-cap technology and e-commerce companies have been viewed as more resilient to the COVID-19 pandemic that has crippled a host of industries, including many travel and retail companies. Tech's rally also comes as investors drove gold prices to a fresh settlement record and an all-time intraday near $2,000, amid concerns about the spread of the viral pandemic and central banks and governments doling out trillions to curtail the economic harm from the pandemic. Against that backdrop, the Dow Jones Industrial Average closed 115 points, or 0.4%, higher at around 26,584, the S&P 500 index finished up 0.7% at about 3,239, while the tech-laden Nasdaq Composite Index closed up 1.7% at around 10,536 and the Nasdaq-100 , comprised of the Nasdaq's largest companies, closed up 1.8% at 10,674, FactSet data show. In economic news, a report on orders for durable goods, those lasting at least three years, climbed 7.3% in June, the government said on Monday. Wall Street economist had forecast on average a gain of 7%.
10:07 a.m. July 27, 2020 - By Myra P. Saefong
Gold price marks highest settlement and intraday price on record Silver tops $24/oz for highest finish since 2013Fresh gains for gold on Monday take it ever closer to a $2,000 level that some analysts see as a distinct possibility.
8:04 a.m. July 27, 2020 - By Michael Ashbaugh
Bull trend intact, S&P 500 maintains near-term support Focus: Health care sector maintains the breakout point, Microsoft weathers earnings-fueled downturn, XLV, MSFT, LSTR, TOLU.S. stocks are higher early Monday, rising ahead of another full slate of earnings reports, due out this week. Against this backdrop, the major U.S. benchmarks remain range-bound, largely treading water amid still rotational, and bullish, July price action.
5:37 a.m. July 27, 2020 - By Mark DeCambre
Dow, S&P 500 kick off muted trade on Monday but tech stocks try to resume climb as gold prices surge to recordsU.S. stocks on Monday opened mixed, with the Dow and S&P 500 under pressure, as investors watched for progress toward another coronavirus rescue program and braced for the busiest week of earnings season. A record run for gold prices and the dollar's lowest level in two years also was being weighed by market participants. The Dow Jones Industrial Average was little changed at 26,466, but tilted lower; the S&P 500 index was virtually unchanged at 3,214; while the Nasdaq Composite Index was trading 0.5% higher at 10,414. After disagreements between themselves and the White House, Senate Republicans were expected Monday to release their proposal, news reports said, which will be closely watched by investors as a potential catalyst for markets. Meanwhile, investors were awaiting earnings from Facebook , Amazon , and Apple , amid a busy earnings week. In economic news, durable-goods orders for June climbed 7.3%, orders minus transportation rose 3.3%, with core capital-goods orders seeing a similar rise. In other assets, gold prices were trading at an intraday record, while the U.S. dollar was at two-year low, as gauged by the ICE U.S. Dollar Index .
8:14 a.m. July 24, 2020 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 ventures under the breakout point Focus: QQQ challenges trendline support, Apple violates key trendline (but don’t panic yet), Home construction ETF presses record highs, QQQ, ITB, AAPL, HPQ, QRVOU.S. stocks are lower early Friday, pressured amid heightened China-U.S. diplomatic tensions. Against this backdrop, the S&P 500 has ventured under its breakout point (3,233) extending to deeper support around the 3,200 mark. Friday’s early session low (3,202) has matched the inflection point, and the weekly close will likely add color.
12:43 p.m. July 23, 2020 - By Mark DeCambre
Dow logs 350-point loss as shares of Apple and Microsoft exact heavy toll on the blue-chip index, broader stock market Dow component Intel’s earnings were on deck on ThursdayU.S. stocks end Thursday sharply lower, with technology-related giants Apple and Microsoft at the vanguard of a selloff in large-capitalization stocks.
8:03 a.m. July 23, 2020 - By Michael Ashbaugh
Market rotation persists, small- and mid-caps extend break atop 200-day average Focus: Silver and gold extend headline technical breakouts, AMD breaks to record territory, SLV, GLD, AMD, VMC, AZNU.S. stocks are mixed early Thursday, with the small- and mid-cap benchmarks rising respectably amid modest downturns across the big three U.S. benchmarks. Against this backdrop, the S&P 500 continues to digest its early-week breakout, amid a less-than-spectacular, but nonetheless persistent, grinding-higher July uptrend.
11:13 p.m. July 22, 2020 - By Steve Goldstein
European stocks open higher, led by Unilever, DaimlerEuropean stocks opened higher on Thursday after a mixed session in Asia. Unilever shares surged , and Daimler rose after as the loss-making vehicle maker said it's , especially at Mercedes-Benz passenger cars. U.S. stock futures edged higher after the latest results from Microsoft and Tesla.
12:29 p.m. July 22, 2020 - By Joy Wiltermuth
Dow ends above 27,000 for first time in six weeks as defensive plays gain amid latest China-U.S. tussle Tesla and Microsoft headline Wednesday’s earnings calendar U.S. stocks finished higher Wednesday, ahead of corporate results from Tesla and Microsoft, but with buying seen in utilities, real-estate and other sectors viewed as defensive as Sino-American tensions rise.
12:09 p.m. July 22, 2020 - By Mark DeCambre
Dow books first close above 27,000 in 6 weeks as investors set to parse Tesla, Microsoft quarterly resultsU.S. stocks finished solidly higher Wednesday and the Dow booked the first close above 27,000 in more than six weeks, ahead of corporate results from Tesla and Microsoft . The Dow Jones Industrial Average rose 165 points, or 0.6%, to around 27,006, marking its first finish above the psychologically significant level at 27,000 since June 9, according to FactSet data. The S&P 500 index closed 0.6% higher at around 3,276, while the Nasdaq Composite Index finished 0.2% higher at 10,706. Markets shook off simmering tensions between China and the U.S. to finish the day higher, with investors focusing on corporate results to indicate the degree by which some of the biggest companies in America have been able to contend with the COVID-19 pandemic.
8:30 a.m. July 22, 2020 - By Archie Mitchell
London drops off the list of top 10 European travel hot spots for the first time U.K. capital has fallen off the top 10 list of most booked European cities for the first time ever, new research showsNew research by data firm ForwardKeys shows flight bookings in Europe and the U.S. falling by 99.6% so far in 2020.
8:05 a.m. July 22, 2020 - By Michael Ashbaugh
S&P 500 sustains latest breakout, rises to challenge next resistance Focus: Gold and silver stage tandem breakouts, U.S. dollar violates key support, GLD, SLV, UUP, LULU, BBYU.S. stocks are slightly higher early Wednesday, rising ahead of several influential earnings reports, and amid familiar trade-related uncertainty. Against this backdrop, the S&P 500 has sustained its early-week breakout, and continues to challenge it next notable resistance (3,260).
11:17 p.m. July 21, 2020 - By Steve Goldstein
Euro advances while European stocks open lowerThe euro advanced in early trade Wednesday, trading over $1.15, as European stocks opened lower. The British pound edged lower on the admission the U.K. won't secure a trade deal with the U.S. as talks over exiting the European Union continue without much progress. Kingfisher rallied 7% as the owner of home-improvement chains said its first-half profit will rise, while Melrose Industries slumped after saying it won't pay a dividend.
1:24 p.m. July 21, 2020 - By Mark DeCambre
Dow, S&P close higher as Covid-battered stocks surge, but off session’s best levels as tech sector sinks Gains for equities come even as gold is approaching its second-highest level in history, near $2,000 an ounceU.S. stock-indexes finish mostly higher Tuesday, but off the session’s best levels, as investors snap up beaten-down energy and financial stocks amid a slate of corporate earnings reports, including Coca-Cola and Lockheed Martin’s second-quarter results.
10:04 a.m. July 21, 2020 - By Myra P. Saefong
Gold settles at a nearly 9-year high and silver scores highest finish since 2014 on fiscal stimulus moves Silver futures rally by nearly 7%Gold futures climb Tuesday to settle at a nearly nine-year high and silver rallies to prices not seen since 2014, with the precious metals lifted by an agreement on a rescue plan by European leaders and expectations for additional spending by the U.S. government.
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