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12:09 p.m. May 6, 2021 - By Mark Decambre
Dow jumps over 300 points to log 23rd record close in 2021 and S&P 500 ends back above 4,200 amid late-session surgeU.S. stocks on Thursday finished a tumultous day firmly in positive territory and the Dow registered back-to-back record closes, supported by a round of strong corporate earnings and signs of continued improvement in the labor market as reflected in the jobless claims report ahead of a closely followed employment report due on Friday. The Dow Jones Industrial Average closed up by about 315 points, or 0.9%, to a record at 34,546, powered by gains in Goldman Sachs Group Inc. and Home Depot . The all-time closing high was the 23rd for the blue-chip index in 2021, outstripping all of the records produced in 2020, according to Dow Jones Market Data. The S&P 500 index closed up 0.8% at 4,200, while the Nasdaq Composite Index ended 0.4% higher at 13,633, snapping a four-session skid. A 1.4% rally in financials and a 1% rally in the technology sector helped to support Thursday's advance, which came as initial unemployment claims in the U.S. fell to 498,000 for first time in pandemic era, pointing to an improving labor market but also raising questions for some investors about the specter of rapidly rising inflation.
5:37 a.m. May 4, 2021 - By Mark Decambre
Dow slips to start Tuesday trade as investors weigh corporate quarterly results, economic reports, await Yellen remarksU.S. stock indexes opened lower Tuesday, a day after the S&P 500 index and the Dow Jones Industrial Average put in a strong start to May, pushing the equity benchmarks near records. Investors are awaiting comments from Treasury Secretary Janet Yellen at 11 a.m. ET and again at 4 p.m. at an event hosted by The Wall Street Journal, as they assess earnings from the likes of Pfizer and CVS Health Corp. and economic data that has recently helped to power a rotation into energy and banking assets. The Dow Jones Industrial Average [: DJIA] was off 0.1% at 34,066, the S&P 500 index declined 0.5% at 4,172, while the Nasdaq Composite Index was trading 1.1% lower at 13,743.
11:38 a.m. May 1, 2021 - By MarketWatch
These money and investing tips can help you decide whether to ‘sell in May and go away’These money and investing stories were popular with MarketWatch readers over the past week.
10:35 a.m. April 30, 2021 - By Myra P. Saefong
Oil futures fall for the session, but tally a gain for the monthOil futures , but finished the month higher. Oil prices ended the month with a solid gain as" mostly upbeat economic data and good earnings results suggest the global recovery is gaining traction and potentially accelerating, which in turn has bolstered the demand outlook," said Tyler Richey, co-editor at Sevens Report Research. "A few optimistic analyst reports from major investment banks also helped oil prices rally this week, but soft overseas economic data paired with end-of-month book squaring" both weighed on oil prices Friday, he said. June West Texas Intermediate crude fell $1.43, or 2.2%, to settle at $63.58 a barrel on the New York Mercantile Exchange. The June contract ended the month with a climb of more than 7%, FactSet data show.
9:31 a.m. April 30, 2021 - By Tomi Kilgore
Goodyear's outlook for raw material cost increases more than doubled, stock turns lowerShares of Goodyear Tire & Rubber Co. sank 2.4% in afternoon trading Friday, reversing an earlier intraday gain of as much as 2.0%, after the tire seller reported , but also more than doubled its full-year outlook for raw materials cost increases. Chief Financial Officer Darren Wells said on the post-earnings conference with analysts that raw materials costs for 2021 are expected to increase by $325 million to $375 million, largely in the second half of the year, compared with previous estimates for an increase of $125 million to $175 million. For the first quarter, however, raw material costs actually declined by $15 million, but prices increases were expected to "catch up some" over the coming quarters. Meanwhile, pricing in the quarter improved by $64 million as the company raised prices ahead of the raw material price increases.
3:43 a.m. April 30, 2021 - By Tomi Kilgore
Exxon Mobil beats profit and revenue expectation as commodities prices rise and costs fall; stock pulls backExxon Mobil Corp. reported Friday a first-quarter adjusted profit and revenue that rose above expectations, boosted by higher commodity prices and actions to cut costs. The oil and gas giant's stock slipped 0.5% in premarket trading, putting it on track to snap a five-day win streak in which it climbed 6.6%. The company swung to net income of $2.73 billion, or 64 cents a share, from a loss of $610 million, or 14 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to 65 cents, above the FactSet consensus of 60 cents. Total revenue rose 5.3% to $59.15 billion, above the FactSet consensus of $56.38 billion, while total costs declined 1.5% to $55.56 billion. Oil-equivalent production increased 3% to 3.8 million barrels per day. For the company's upstream business, average realizations for crude oil increased 42% from the sequential fourth quarter, and rose 33% for natural gas. The company's 2021 capital expenditure plan was maintained at $16 billion to $19 billion. The stock has soared 43.0% year to date through Thursday, while the SPDR Energy Select Sector ETF has rallied 33.7% and the S&P 500 has gained 12.1%.
2:43 a.m. April 30, 2021 - By Tomi Kilgore
Chevron stock falls after profit beats but revenue comes up shortShares of Chevron Corp. fell 1.6% in premarket trading Friday, after the oil and gas giant reported a first-quarter profit that beat expectations but revenue that came up short, amid continued weakness in downstream volume and margin resulting from the COVID-19 pandemic and Winter Storm Uri. Net income dropped to $1.38 billion, or 72 cents a share, from $3.60 billion, form $1.93 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share fell to 90 cents from $1.31 but topped the FactSet consensus of 89 cents. Total revenue rose 1.7% to $32.03 billion, below the FactSet consensus of $32.54 billion. U.S. downstream operations swung to a loss of $130 million from $450 million last year, as both refinery crude oil input and refined product sales decreased 9%, due primarily to lower jet fuel, gasoline and diesel demand. Chevron's stock has rallied 26.6% year to date through Thursday, while the SPDR Energy Select Sector ETF has climbed 33.7% and the Dow Jones Industrial Average has advanced 11.3%.
10:08 a.m. April 29, 2021 - By Tomi Kilgore
Exxon Mobil's stock rises toward 5th-straight gain ahead of earnings reportShares of Exxon Mobil Corp. rose 0.6% in afternoon trading, putting them on track for their fifth-straight gain, ahead of the oil giant's first-quarter report due out the next morning. Exxon Mobil is expected to report before Friday's open net income that rises above $2.5 billion, adjusted earnings per share that climbs to 60 cents and revenue that edged up to $56.38 billion, according to FactSet. The stock, which is headed for the highest close since March 17, has climbed 5.8% during its current win streak. Year to date, it has rallied 41.9% year to date, while the SPDR Energy Select Sector ETF has climbed 33.0%, crude oil futures surged 33.7% and the S&P 500 advanced 11.8%.
7:25 a.m. April 27, 2021 - By Tomi Kilgore
Dow's stock gets a boost as Argus analyst recommends buyingShares of Dow Inc. rose 0.7% in morning trading Tuesday, after Argus Research analyst Bill Selesky turned bullish on the chemicals and specialty materials company, citing signs of increased demand and stronger pricing. Selesky raised his rating to buy from hold, and set his stock price target at $69, which is about 10% above current levels. "We expect Dow to benefit in the near term from stronger pricing for commodity chemicals and increased demand in North America and China, and are significantly boosting our EPS estimates for both 2021 and 2022," Selesky wrote in a note to clients. "We also have a favorable view of Dow's low cost structure, solid cash flow, declining capital spending requirements, and sustainable dividend, with a yield of about 4.6%." Dow reported last week , and was well above expectations, helped by across all operating segments. The stock has climbed 15.1% over the past three months, while the Dow Jones Industrial Average has advanced 12.0%.
2:57 a.m. April 21, 2021 - By Tomi Kilgore
Halliburton's stock rallies after swinging to profit that beat expectations, amid 'healthy' recovery in North AmericaShares of Halliburton Co. surged 2.3% in premarket trading Wednesday, after the oil services company swung to a first-quarter profit that beat expectations and revenue that topped forecasts. Net income was $170 million, or 19 cents a share, after a loss of $1.02 billion, or $1.16 a share, in the year-ago period. The FactSet consensus for earnings per share was 17 cents. Total revenue dropped 31.5% to $3.45 billion, but beat the FactSet consensus of $3.36 billion. Completion and Production revenue fell 37% to $1.87 billion, missing the FactSet consensus of $1.90 billion, and drilling and evaluation revenue declined 24% to $1.58 billion but beat expectations of $1.46 billion. "The first quarter marked an activity inflection for the international markets, while North America continued to stage a healthy recovery," said Chief Executive Jeff Miller. "I expect international activity growth to accelerate, and the early positive momentum in North America gives me confidence in the activity cadence for the rest of the year." Halliburton's stock has gained 4.8% year to date through Tuesday, while the VanEck Vectors Oil Services ETF has rallied 13.2% and the S&P 500 has advanced 10.1%.
4:21 a.m. April 14, 2021 - By Tomi Kilgore
Exxon Mobil stock gains after Raymond James analyst backs off long-time bearish stanceShares of Exxon Mobil Corp. rose 1.0% in premarket trading Wednesday, after Raymond James analyst Justin Jenkins backed away from his more-than two-year long bearish stance, citing the emergence of earnings momentum and "less negative" relative valuation. "With the recent downdraft in the stock (off ~10% over the past month), we think it's the right time to get less negative in our outlook for [Exxon Mobil]," Jenkins wrote in a note to clients. "1Q21 earnings indicators show a solid measure of improvement, pushing the company in the right direction of that part of the "show me" story." Jenkins upgraded the oil giant's stock to market perform after being at underperform since November 2018. He said he believes the risk-vs.-reward profile "skews less negative in the context of our relative optimism on oil prices," and the likelihood for a return to normal in Exxon Mobil's downstream business. Despite the selloff in the past month, Exxon Mobil's stock has hiked up 35.2% year to date through Tuesday, while the SPDR Energy Select Sector ETF has rallied 26.3%, crude oil futures have run up 26.2% and the S&P 500 has advanced 10.3%. (This replaces an earlier item that incorrectly reported the analyst's first name. It has been corrected.)
5:37 a.m. April 12, 2021 - By Mark DeCambre
Dow retreats slightly as stock-market investors ready for first-quarter earnings; Microsoft to buy Nuance in $16 billion deal U.S. stock benchmarks fell slightly early Monday as investors positioned for the start of earnings season, and braced for inflation data that could signal whether a surge in rising prices is in the works or set to be transitory. The Dow Jones Industrial Average fell 0.1% to around 33,754, the S&P 500 index retreated 0.1% at 4,123, while the Nasdaq Composite Index was trading 0.3% lower at 13,861. In corporate news, shares of Nuance Communications jumped in early trading after Microsoft Corp announced it will buy the speech-recognition company in a $16 billion deal. Markets also were parsing comments from Federal Reserve Chairman Jerome Powell who said the economy "seems to be at an inflection point," with strong growth coming "right now" and the weakness caused by the coronavirus pandemic in the rearview mirror. His comments were from a "60 Minutes" interview that aired on Sunday.
1:38 p.m. April 3, 2021 - By MarketWatch
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8:03 a.m. March 31, 2021 - By Michael Ashbaugh
Charting a stealth breakout attempt, S&P 500 tags fractional record high Focus: 10-year yield asserts higher plateau, FedEx extends earnings-fueled breakout, TNX, FDX, X, APD, VCELU.S. stocks are higher early Wednesday, rising as a largely-bullish first quarter concludes. Against this backdrop, the S&P 500 has tagged a fractional record high early Wednesday amid a stealth late-March breakout attempt that remains underway.
8:55 a.m. March 16, 2021 - By Tomi Kilgore
Energy sector suffers broad selloff, as NOV's stock tumble and crude oil decline weighThe energy sector was suffering a broad selloff, and was the leading loser of the S&P 500's 11 key sectors, weighed down by a revenue warning from NOV Inc. and a drop in crude oil prices. The SPDR Energy Select Sector ETF shed 2.3% in midday trading, with all 23 equity components losing ground, while the S&P 500 ticked up less than 0.1%. NOV's stock tumbled 9.3% to pace the declines, after the provider of equipment to the oil and gas industry said it now expects first-quarter revenue of between $1.20 billion and $1.25 billion, , as severe weather in Texas and Oklahoma, and continued negative effects of the COVID-19 pandemic, led to softer-than-anticipated customer orders. Among other more-active energy ETF components, shares of Exxon Mobile Corp. shed 1.8%, Marathon Oil Corp. lost 3.9%, Occidental Petroleum Corp. dropped 2.4%, Chevron Corp. declined 2.0% and Kinder Morgan Inc. gave up 1.9%. Meanwhile, crude oil futures fell 1.2%, amid .
5:32 a.m. March 8, 2021 - By Mark DeCambre
Dow opens higher but tech stocks come under pressure Monday as investors wrestle with rise in Treasury yieldsStock-index benchmarks were trading mostly higher Monday morning, with tech-related shares under pressure as government bond yields extended their climb following Senate passage of a $1.9 trillion COVID-19 relief package. The Dow Jones Industrial Average [: DJIA] was trading up 121 points, or 0.4%, at 31,606, the S&P 500 index climbed 0.1% at 3,842, while the Nasdaq Composite Index was off 0.2% at 12,899. Expectations that aggressive fiscal spending coupled with a rapidly reopening economy as vaccine rollouts continue have fueled expectations for at least a near-term surge in inflation. That, in turn, has contributed to a rise in bond yields which has helped fuel a rotation away from growth-oriented stocks with high valuations toward stocks that have been left behind in the stock market's post-COVID recovery. In corporate news, shares of AMC Entertainment Holdings Inc. surged as the "meme" stock's bounce from last month's plunge continued, after Wedbush analyst Michael Pachter doubled his price target ahead of the company's earnings report, citing an increasing optimism over the post-pandemic environment. Pachter raised his target for the stock to $5.00 from $2.50, but that target was 38% below Friday's closing price of $8.05. Shares of AMC and GameStop Corp. have been a focus of retail investors and short sellers of late. GameStop tapped Chewy co-founder Ryan Cohen to lead its e-commerce shift, according to reports.
8:09 a.m. March 1, 2021 - By Michael Ashbaugh
Charting successful technical tests: S&P 500, Nasdaq knife from major support Focus: Gold’s technical breakdown, Starbucks tags record highs, GLD, SBUX, MXL, OII, GRPNU.S. stocks are firmly higher early Monday, rising after a strong batch of economic data and amid stabilizing Treasury yields. Against this backdrop, the S&P 500 and Nasdaq Composite have knifed from major support amid an unusually strong March start.
3:18 a.m. Feb. 28, 2021 - By MarketWatch
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9:54 a.m. Feb. 24, 2021 - By Tomi Kilgore
Occidental Petroleum's stock soars to lead S&P 500 gainers, as crude oil prices rally toward a 13-month highShares of Occidental Petroleum Corp. shot up 9.1% in afternoon trading Wednesday, fueled by and continued praise from Wall Street analysts regarding the oil and gas company's plans to reduce debt. The stock, which was the biggest gainer in the S&P 500 , is on track to close at its highest price since March 5. The company had reported after Monday's closing bell a wider-than-expected loss and a revenue miss for the third-straight quarter, but said it remained focused on strengthening its balance sheet by using asset sales to reduce debt and to extend current debt maturities. Analyst Neal Dingmann at Truist reiterated his hold rating but raised his stock price target to $28 from $24, saying the company continues to "best manage its material debt," which positions it for an eventual return to dividend growth. Meanwhile, continuous crude oil futures rallied 2.4% toward the highest settlement since Jan. 6, 2020. Over the past three months, Occidental's stock has soared 69.4%, while crude futures have run up 40.6% and the S&P 500 has gained 8.0%.
10:58 a.m. Feb. 23, 2021 - By Tomi Kilgore
Marathon Oil stock surges to pace S&P 500 gainers after upbeat earnings, outlookShares of Marathon Oil Corp. shot up 8.7% toward a one-year high in afternoon trading, enough to pace the S&P 500's gainers, after the natural gas company reported and provided upbeat outlook for capital expenditures and free cash flow (FCF). Trust analyst Neal Dingmann reiterated the buy rating he's had on the stock since mid-January, while boosting his price target by 25%, to $15 from $12. His new target ties him Tudor Pickering Holt's Matthew Portillo for the highest of the 29 analysts surveyed by FactSet. Dingmann highlighted the company's plan of holding 2021 spending at about $1 billion, regardless of how much oil prices rise, so it can focus on debt repayment. "The capital discipline will not only provide meaningful FCF, but the program extends the life of the war chest of core Bakken and Eagle Ford locations to 10+ years, though an accretive acquisition is always possible," Dingmann wrote in a research note. "While we forecast 1Q21 production to be sequentially lower, partially driven by the recent weather in Texas, we still believe the company could reward shareholders soon in some fashion." The stock has soared 79.7% over the past three months, while the SPDR Energy Select Sector ETF has rallied 26.4% and the S&P 500 has gained 8.2%.
8:00 a.m. Feb. 18, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 tags first support Focus: Airlines tag 11-month highs, JETS, SPOT, TXN, CVX, ZNGAU.S. stocks are lower early Thursday, pressured after disappointing weekly jobs data and a soft batch of quarterly earnings reports. Against this backdrop, the S&P 500 has extended a downturn from recent record highs, pulling in to tag first support (3,885).
2:21 a.m. Feb. 18, 2021 - By Tomi Kilgore
Barrick Gold's stock bounces off 10-month low after profit, revenue beat expectationsShares of Barrick Gold Corp. surged 2.9% in premarket trading, to bounce off the previous session's 10-month closing low, after the gold miner reported fourth-quarter profit and revenue that beat expectations. Net earnings were $685 million, or 39 cents a share, down from $882 million, or 50 cents a share, in the third quarter. Adjusted earnings per share, excluding nonrecurring, items were 35 cents, above the FactSet consensus of 31 cents. Revenue fell to $3.28 billion from $3.54 in the previous quarter, but topped the FactSet consensus of $3.25 billion. A year ago, the company reported net earnings of $1.39 billion, or 78 cents a share, on revenue of $2.88 billion. Realized gold price per ounce was $1,871, compared with $1,926 in the third quarter and $1,483 a year ago. Free cash flow was $1.09 billion, down from $1.31 billion in the third quarter but up from $429 million a year ago; the FactSet consensus was $720.8 million. The company said while cost per ounce was impacted by the COVID-19 pandemic, total cash costs were contained despite higher royalty expenses from the higher gold price environment. Barrick Gold's stock has declined 14.8% over the past three months through Wednesday, while gold futures have declined 4.8% and the S&P 500 has gained 10.2%.
12:06 p.m. Feb. 12, 2021 - By Mark DeCambre
Stock market clinches trifecta of record closing highs ahead of Presidents Day holidayMajor U.S. stock indexes on Friday finished on a higher note, notching a series of record highs on the back of optimism about a fresh round of COVID spending, strong corporate earnings and progress in rollowuts of vaccines to combat the viral pandemic. The Dow Jones Industrial Average closed up less than 0.1% to end at around 31,458, enough for a record peak for the blue-chip index, aided by gains in Goldman Sachs Group Inc. and Amgen Inc. . The S&P 500 index closed up 0.5% to reach about 3,935, while the Nasdaq Composite Index ended the day up 0.5% at an all-time closing high at roughly 14,095. For the week, the Dow finished up 1%, the S&P 500 closed with a 1.2% gain, while the Nasdaq Composite booked a 1.7% weekly advance. U.S. markets will be closed on Monday in observance of Presidents Day.
8:03 a.m. Feb. 11, 2021 - By Michael Ashbaugh
Charting a bullish holding pattern: U.S. benchmarks sustain February breakout Focus: Oil & Gas Exploration ETF sustains breakout, Nvidia reaches uncharted territory, XOP, NVDA, VEEV, SAIL, HPU.S. stocks are mixed early Thursday, vacillating after the latest batch of generally solid quarterly earnings reports. Against this backdrop, each big three U.S. benchmark has asserted a week-to-date holding pattern, of sorts, consolidating an early-week break to record territory.
8:18 a.m. Feb. 10, 2021 - By Michael Ashbaugh
Bull trend pauses: S&P 500, Nasdaq digest breaks to uncharted territory Focus: Industrial sector’s breakout attempt, Zoom Video and McDonald’s signal trend shifts, XLI, XM, MCD, SWKS, HOLXU.S. stocks are mixed early Wednesday, treading water after a generally strong batch of quarterly earnings reports and ahead of scheduled remarks by the Federal Reserve Chairman. Against this backdrop, each big three U.S. benchmark is digesting its latest break to record territory amid thus far muted mid-week selling pressure.
8:08 a.m. Feb. 4, 2021 - By Michael Ashbaugh
Charting bullish follow-through: S&P 500, Nasdaq challenge record closes Focus: Crude oil extends February breakout, Alphabet’s earnings-fueled spike, USO, GOOGL, APPN, GOGO, FANGU.S. stocks are higher early Wednesday, rising as the major benchmarks build on a strong February start. In the process, the S&P 500 and Nasdaq Composite have challenged their respective record closes — S&P 3,855 and Nasdaq 13,636 — as they vie to register their latest records. Both benchmarks have extended a bullish reversal from relatively well-defined support.
8:06 a.m. Feb. 3, 2021 - By Michael Ashbaugh
Charting a bullish reversal, S&P 500 nails the breakdown point Focus: Retail sector asserts cooling-off phase, Homebuilders hold the breakout point, XRT, XHB, CYBR, KMX, SWIR, WIXU.S. stocks are mixed early Wednesday, treading water after a solid batch of quarterly earnings reports and economic data. Against this backdrop, the S&P 500 has extended its rally from major support, rising to challenge its breakdown point (3,830).
8:11 a.m. Jan. 29, 2021 - By Michael Ashbaugh
Charting a corrective bounce: S&P 500 stalls at the breakdown point Focus: Semiconductor sector tests key trendline, Microsoft sustains earnings-fueled breakout, SMH, MSFT, COF, APTV, NTAPU.S. stocks are firmly lower early Friday, pressured to conclude previously constructive January price action. Against this backdrop, each big three benchmark has pulled in to this week’s second test of notable support. The response to each area, and Friday’s monthly close, will likely add color.
12:35 p.m. Jan. 28, 2021 - By Mark DeCambre
Dow rebounds day after short-selling sparked selloff helped lead to worst drop in 3 months; GameStop, AMC get poundedU.S. stock indexes ended higher Thursday afternoon, but off the best levels of the session, as investors focused on earnings reports and economic data following steep losses for major indexes on high trading volumes on Wednesday. Investors continued to monitor volatile trading in shares of GameStop Corp. that underlined concerns about speculative excess. The Dow Jones Industrial Average [: DJIA] rose around 300 points, or 1%, at 30,603, the S&P 500 index gained 1% to 3,787, but finished off its best level around 3,830, while the Nasdaq Composite Index closed 0.5% higher at 13,337, but also off its intraday peak at 13,508. All closing levels are based on preliminary levels. Markets focused on a raft of earnings on Thursday as well as economic updates on gross domestic product and jobless claims, which momentarily overshadowed the action in GameStop and AMC Entertainment Holdings [: AMC], among a batch of stocks that have been the talk of Wall Street as Main Street , as they are the center of a battle between professional investors betting that shares of those stocks will fall in value and average investors attempting to push the value of those heavily shorted companies ever-higher. On Thursday, shares of GameStop sank 44% on Thursday but are still holding onto a nearly 200% gain so far this week. Those for AMC ended down 57% and are up 146% so far this week. A reading of those seeking initial jobless claims in the week ended Jan. 23, fell by 67,000 to a seasonally adjusted 847,000, marking the lowest level in three weeks, but layoffs were still high early in 2021 as the economy wrestled with a winter surge in the coronavirus. Separately, a report on U.S. economic growth, or GDP, showed that the economy grew at a modest 4% annual pace in the final three months of 2020.
8:00 a.m. Jan. 27, 2021 - By Michael Ashbaugh
Charting an intraday downdraft, S&P 500 retests near-term support (3,764) Nasdaq maintains gap support, Small- and mid-cap benchmarks retest near-term floorsU.S. stocks are firmly on the defensive early Wednesday, pressured after a mixed batch of quarterly earnings reports, and ahead of the Federal Reserve’s latest policy directive, due out this afternoon. Against this backdrop, the S&P 500 has ventured under its breakout point (3,826), pulling in to an initially successful retest of familiar near-term support (3,764).
8:14 a.m. Jan. 25, 2021 - By Michael Ashbaugh
Charting mixed follow-through: Nasdaq extends to latest record high Focus: Transports hold the breakout point, Netflix digests earnings-fueled spike, IYT, NFLX, IP, AKAM, CMIU.S. stocks are mixed early Monday, vacillating ahead of this week’s full slate of quarterly earnings reports. Against this backdrop, the Nasdaq Composite has extended its prevailing statistically unusual breakout — tagging another record high — while the S&P 500 has pulled in to a shaky intraday retest of its breakout point (3,826).
8:25 a.m. Jan. 22, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 retests the breakout point Focus: Solar sector sustains 2021 breakout, Apple tags record close amid stealth breakout attempt, TAN, AAPL, MGA, DE, MDCU.S. stocks are lower early Friday — though off the session’s worst levels — pressured amid virus concerns, and a not well-received batch of influential earnings reports. Against this backdrop, the S&P 500 and Nasdaq Composite continue to digest respectable mid-week rallies to record territory, against an otherwise bullish bigger-picture backdrop.
7:56 a.m. Jan. 20, 2021 - By Michael Ashbaugh
Charting bull-flag breakouts: S&P 500, Nasdaq tag record highs Focus: Health care sector vies to extend January breakout, XLV, MCHP, AXP, UBER, SLBU.S. stocks are firmly higher early Wednesday, rising amid Inauguration Day and following a solid batch of quarterly earnings reports. Against this backdrop, the S&P 500 and Nasdaq Composite have staged bull-flag breakouts, rising to tag their latest record highs.
5:33 a.m. Jan. 19, 2021 - By Mark DeCambre
Dow kicks off trade 200 points higher Tuesday as investors focus on Biden inauguration, Yellen confirmation hearingU.S. stock benchmarks Tuesday morning rose on the first trading day after a holiday-shortened week, a day ahead of the inauguration of President-elect Joe Biden and as fourth-quarter earnings season kicks into higher gear. Investors are awaiting testimony from Janet Yellen, the former Fed chair nominated by Biden to head the Treasury, who is scheduled to testify at her confirmation hearing speak before the Senate Finance Committee at 10 a.m. Eastern, while market participants also are parsing quarterly results from Goldman Sachs Group and Bank of America among others. The Dow Jones Industrial Average rose 213 points, or 0.7%, at 31,030, the S&P 500 index climbed 0.7% to 3,796, while the Nasdaq Composite Index climbed 1% at 13,127.
7:59 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.
12:38 p.m. Jan. 9, 2021 - By MarketWatch
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8:03 a.m. Dec. 4, 2020 - By Michael Ashbaugh
Charting bullish follow-through, S&P 500 approaches 3,700 mark Focus: Airlines tag nine-month highs, Boeing extends recovery attempt, FedEx breakout attempt ahead of earnings, JETS, BA, FDX, DDS, SIMO, CALU.S. stocks are higher early Friday, rising after a lackluster monthly jobs report strengthened the case for fiscal-stimulus measures. Against this backdrop, each big three U.S. benchmark has extended its December breakout, rising to tag nominal new record highs.
7:57 a.m. Nov. 19, 2020 - By Michael Ashbaugh
Charting a bull-trend pullback, S&P 500 ventures under first support Focus: Airlines sustain vaccine-fueled technical breakout, Target tags record highs, JETS, TGT, HLT, JCI, METU.S. stocks are mixed early Thursday, vacillating after a lackluster batch of economic data and amid renewed concerns over pending economic lockdowns. Against this backdrop, the S&P 500 and Dow industrials have extended a thus far relatively orderly pullback from Monday’s record closes.
7:59 a.m. Nov. 16, 2020 - By Michael Ashbaugh
Charting the approach of Dow 30,000 amid second vaccine-fueled market rally Focus: Health care sector holds the breakout point, Alphabet sustains November rally to uncharted territory, XLV, GOOGL, BA, APPN, ROSTU.S. stocks are firmly higher early Monday, rising sharply amid optimism over a successful final-phase trial for a second coronavirus vaccine. Against this backdrop, the S&P 500 has extended an already-aggressive November rally, rising from its record close to conclude last week. Meanwhile, the Dow Jones Industrial Average has tagged a nominal record high early Monday, rising within striking distance of the 30,000 mark.
8:02 a.m. Nov. 13, 2020 - By Michael Ashbaugh
Charting a bull flag: S&P 500, Dow industrials sustain November breakouts Focus: Europe sustains November breakout, Biotech sector challenges record highs, IEV, XBI, RNG, ZEN, URBN, RFU.S. stocks are higher early Friday, rising amid lingering vaccine-fueled optimism and after a well received batch of influential earnings reports. Against this backdrop, the S&P 500 and Dow industrials continue to digest massive early-week breakouts, while the Nasdaq Composite has extended a rally from major support.
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