Bulletin
Investor Alert

Topics

Federal Reserve

Video

Modern-Day Gold Rush Has Investors Digging for Profits

  • Modern-Day Gold Rush Has Investors Digging for Profits Modern-Day Gold Rush Has Investors Digging for Profits 5:40
9:53 a.m. May 7, 2021 - By Myra P. Saefong
Gold futures mark highest finish in almost 3 monthsGold futures to mark their highest finish in almost three months. Following data showing weaker-than-expected U.S. nonfarm jobs growth in April, Chintan Karnani, director of research at Insignia Consultants, said he does not expect U.S. interest rates to be raised at the Federal Reserve's June meeting, and the U.S. dollar index is "on the defensive." The ICE U.S. Dollar Index fell 0.7% Friday, on track for a weekly loss of over 1%, providing support for dollar-denominated gold. The June gold contract rose $15.60, or 0.9%, to settle at $1,831.30 an ounce. That was the highest most-active contract settlement since Feb. 10, FactSet data show. For the week, prices based on the most-active contract climbed about 3.6%.
9:45 a.m. May 5, 2021 - By Myra P. Saefong
Gold prices end higher as Yellen clarifies recent comments on interest ratesGold futures to recoup only part of what they lost a day earlier as U.S. Treasury Secretary Janet Yellen and said she was neither predicting nor recommending that the Federal Reserve raise interest rates to keep the economy from overheating. The $1,800 mark for gold is a "very strong resistance level" and further comments from Yellen "clarifying that she was not predicting anything in particular did nothing to help gold break through," said David Russell, director of marketing at GoldCore. June gold rose $8.30, or 0.5%, to settle at $1,784.30 an ounce.
9:48 a.m. May 4, 2021 - By Myra P. Saefong
Gold prices finish lower after Yellen hints at a possible U.S. interest-rate hikeGold futures , giving back much of what they gained a day earlier, as hinted that an interest-rate increase may be forthcoming from the Federal Reserve to keep the economy from overheating. Yellen does not set interest-rate policy at the Treasury, but she formerly led the Fed. Until last week, current Fed Chairman Jerome Powell had "dashed all interest-rate hike expectations," said Chintan Karnani, director of research at Insignia Consultants. Yellen may be preparing the markets for a June interest rate hike if U.S. economic growth continues to perform well in May, he said. June gold fell $15.80, or 0.9%, to settle at $1,776 an ounce.
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.
9:40 a.m. April 27, 2021 - By Myra P. Saefong
Gold futures end with a modest loss a day ahead of the Fed policy announcementGold futures , with prices holding to a tight trading range ahead of the Federal Reserve's monetary policy announcement due Wednesday. "Right now, gold prices only care about the Fed" and they're "stuck despite U.S. consumer confidence hitting a pandemic high, home prices jumping the most since 2006, and as other commodity prices surge," said Edward Moya, senior market analyst at Oanda. Gold's next move could be higher, with prices breaking above the $1,800 level if Fed Chairman Jerome Powell's upgraded outlook does not trigger a bond market selloff, he said. June gold fell $1.30, or nearly 0.1%, to settle at $1,778.80 an ounce.
9:48 a.m. April 26, 2021 - By Myra P. Saefong
Gold futures settle higher ahead of this week's Fed meetingGold futures to recoup just over half of what they lost during Friday's trading session. Investors await the outcome of the Federal Reserve's two-day monetary policy meeting which ends Wednesday, as well as President Joe Biden's speech to Congress and data on first quarter U.S. GDP also due this week to provide guidance for gold's next price move, according to Colin Cieszynski, chief market strategist at SIA Wealth Management. June gold rose $2.30, or 0.1%, to settle at $1,780.10 an ounce after losing 0.2% on Friday.
10:09 a.m. April 14, 2021 - By Myra P. Saefong
Gold futures settle with a loss, move lower after Beige Book releaseGold futures settled with , with strength in U.S. Treasury yields helping prices to lose most of what they gained in the previous session. Prices showed little reaction to to the Economic Club of Washington. Powell said the Fed would taper asset purchases well before any interest rate increase, but offered no date for a shift in policy. Gold prices then moved lower in electronic trading after the Fed Beige Book reported a moderate acceleration in the economy. June gold was at $1,734.60 an ounce in electronic dealings, after losing $11.30, or nearly 0.7%, to settle at $1,736.30 an ounce on Comex.
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.
9:37 a.m. April 8, 2021 - By Myra P. Saefong
Gold futures log highest finish since late FebruaryGold futures to mark their biggest daily gain of the month so far, and highest finish since late February. Prices for the precious metal extended their gains after said the central bank wanted to see actual evidence of a strong economy before it would even consider pulling back from its loose policy stance. June gold rose $16.60, or nearly 1%, to settle at $1,758.20 an ounce on Comex. That was the highest most-active contract settlement since Feb. 25, FactSet data show.
8:12 a.m. April 8, 2021 - By Michael Ashbaugh
Bullish momentum persists: S&P 500 (slightly) extends April breakout Focus: Communications services sector tags record highs, Apple’s stealth trendline breakout, XLC, AAPL, IBM, ON, NUANU.S. stocks are mixed early Thursday, vacillating ahead of scheduled remarks from the Federal Reserve Chairman. Against this backdrop, the S&P 500 has tagged its latest record high, though narrowly, while the Nasdaq Composite has extended an already-aggressive trendline breakout.
12:09 p.m. April 7, 2021 - By Mark DeCambre
S&P 500 books 18th record close of 2021 in listless trading day after Fed signals commitment to lower ratesThe S&P 500 on Wednesday eked out a record, its 18th of the year, but trading action was otherwise lackluster as minutes from the Federal Reserve's last policy meeting appeared to reaffirm a commitment to a lower-rate regime as the COVID-stricken labor market recovers. The S&P 500 index closed up 0.2% at around 4,079, on a preliminary basis. The Dow Jones Industrial Average finished up less than 0.1% at about 33,446, to mark its third gain in four sessions, while the Nasdaq Composite Index edged less than 0.1% lower to around 13,669. "While generally acknowledging that the medium-term outlook for real GDP growth and employment had improved, participants continued to see the uncertainty surrounding that outlook as elevated," minutes from the Fed's March 16-17 meeting read. The central bank said that its "current guidance for the federal funds rate and asset purchases was serving the economy well." Projections from Fed members indicate that policy makers won't look to normalize rates until at 2023 at the earliest but segments of the market have pushed back against that notion, amid fears that inflation will pick up as the economy improves.
10:14 a.m. April 7, 2021 - By Myra P. Saefong
Gold prices mark first loss in 5 sessionsGold futures , easing back after posting gains in each of the past four trading sessions. Prices for the metal showed little reaction after . The minutes showed that members of the Federal Open Market Committee agreed that the COVID-19 pandemic was "causing tremendous human and economic hardship" across the U.S. and the world, and noted that "indicators of economic activity and employment had turned up recently, although the sectors most adversely affected by the pandemic remained weak." June gold was at $1,741.90 an ounce in electronic trading. It had ended the session down $1.40, or nearly 0.1%, at $1,741.60 an ounce.
7:58 a.m. April 7, 2021 - By Michael Ashbaugh
Bull trend confirmed: S&P 500 tags technical target (4,085) Focus: Europe digests break to 12-year highs, IEV, ASML, ADI, EMR, YUMU.S. stocks are mixed early Wednesday, vacillating ahead of the release of the Federal Reserve’s meeting minutes, due out this afternoon. Against this backdrop, the S&P 500 and Dow industrials are digesting decisive breaks to record territory, while the Nasdaq Composite has sustained an aggressive trendline breakout.
10:17 a.m. March 24, 2021 - By Michael Ashbaugh
Market rotation persists, S&P 500 capped by the breakdown point Focus: Small- and mid-caps extend March downturn, Nasdaq capped by 50-day averageU.S. stocks are mixed Wednesday, vacillating as Treasury yields continue to stabilize in the wake of largely uneventful Federal Reserve policy remarks. Against this backdrop, the S&P 500 remains capped by its breakdown point (3,950) amid still largely range-bound price action as market rotation persists.
12:06 p.m. March 23, 2021 - By Mark DeCambre
Dow suffers worst day in about 3 weeks and oil ends in correction territory as investors parse Yellen-Powell testimony U.S. stocks finished solidly lower Tuesday as the first of two days of testimony from Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen on the state of the government's efforts to limit the economic damage from the COVID-19 pandemic concluded without any major surprises. However, rising worries about extended lockdowns in Europe due to the COVID pandemic helped to drive risk appetite lower and push crude-oil futures into a correcton, defined as a decline of at least 10% from a recent peak. The Dow Jones Industrial Average ended by about 335 points, or 1%, lower at 32,395, marking its worst day since March 4. The S&P 500 index closed off 0.8% to about 3,910, powered lower by declines in industrials and materials , while the Nasdaq Composite Index finished the session 1.1% lower at about 13,228. The slide in stocks acclerated at the end of the session and came even as the 10-year Treasury note yield fell nearly 6 basis points to 1.63%. Bond prices rise as yields fall.
9:40 a.m. March 23, 2021 - By Myra P. Saefong
Gold prices settle lower as investors mull congressional testimony from Powell, YellenGold futures , at their lowest in over a week, pressured by strength in the U.S. dollar. Investors showed little reaction as they listened to congressional on the outlook for economic policy. The Fed "appears comfortable with the recent rise in 10-year yields as a tool to temper inflationary pressures over the long term. This has kept a lid on gold," said Jeff Wright, chief investment officer at Wolfpack Capital. However, "given the amount of stimulus, gold should strengthen," he said. Higher spending can pressure the dollar, providing support for dollar-denominated prices of gold. The Biden administration is of spending on infrastructure, education and fighting climate change. For now, Wright said gold is currently "range bound" at $1,600 to $1,800, but "with a bias towards downside in short term." On Tuesday, April gold fell $13, or nearly 0.8%, to settle at $1,725.10 an ounce.
8:20 a.m. March 19, 2021 - By Michael Ashbaugh
Charting another bull-trend pullback, S&P 500 tags familiar support Focus: Basic materials assert bull flag, XLB, WHR, FTNT, USB, FOURU.S. stocks are mixed early Friday, vacillating in the wake of this week’s Federal Reserve policy actions. Against this backdrop, the bigger-picture backdrop remains bullish, on balance, though the prevailing market technicals are not one-size-fits-all.
9:44 a.m. March 18, 2021 - By Myra P. Saefong
Gold gives up early declines to finish higherGold futures gave up early declines on for the session as investors continued to digest Wednesday's comments from the Federal Reserve and the central bank's chairman, Jerome Powell. Gold likely moved up "due to market noise and some haven flows, with tech stocks being down," said Fawad Razaqzada, market analyst at ThinkMarkets. The Nasdaq Composite as a appeared to fuel another round of rotation into sectors more sensitive to the economic cycle. Still, Razaqzada said gold may not be able to hold its gains, given the continued rise in U.S. Treasury yields. April gold rose $5.40, or 0.3%, to settle at $1,732.50 an ounce after tapping an intraday low at $1,716.60.
8:18 a.m. March 18, 2021 - By Michael Ashbaugh
Charting market rotation: Dow industrials take flight amid surging Treasury yields Focus: 10-year yield continues to take flight, TNX, NDAQ, DHI, XPO, VNOMU.S. stocks are mixed early Thursday, vacillating as market rotation persists after the Federal Reserve’s Wednesday policy statement. Against this backdrop, the Dow Jones Industrial Average has extended a break atop the 33,000 mark, as the Nasdaq Composite vies to simply maintain a posture atop its 50-day moving average.
7:54 a.m. March 17, 2021 - By Michael Ashbaugh
Charting a bull-trend pullback: S&P 500 digests breakout ahead of Fed Focus: Metals & mining sector sustains break to six-year highs, Facebook’s stealth trendline breakout, XME, FB, SIMO, SBUX, ANU.S. stocks are mixed early Wednesday, vacillating ahead of the Federal Reserve’s policy statement, due out this afternoon.
9:38 a.m. March 16, 2021 - By Myra P. Saefong
Gold futures up a second session, at highest in 2 weeksGold futures to tally the highest finish in two weeks, as traders awaited the outcome of the , which concludes Wednesday with a statement on monetary policy. "Overall, sentiment for gold is mixed as the economy continues to recover and inflation remains relatively muted," said Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund . If the Fed decides to use asset purchasing to suppress recent increases in Treasury yields, that "could prove to be relatively bullish for the metal," he said. "The Fed's overall dovish stance would usually be a tailwind for gold, however, sentiment in the economy may overpower the Fed's typical effects." April gold rose $1.70, or 0.1%, to settle at $1,730.90 an ounce, the highest most-active contract finish since March 2, FactSet data show.
9:42 a.m. March 15, 2021 - By Myra P. Saefong
Gold futures settle at their highest in nearly 2 weeksGold futures , with prices finding support from a decline in Treasury yields to mark the highest settlement for a most-active contract since March 2, FactSet data show. Prices also notched their fourth gain in five sessions. Investors await the outcome of the for further cues on gold's outlook. The meeting begins Tuesday and ends with a statement on monetary policy Wednesday. April gold rose $9.40, or nearly 0.6%, to settle at $1,729.20 an ounce.
8:15 a.m. March 15, 2021 - By Michael Ashbaugh
Charting a slow-motion breakout attempt, S&P 500 nails the range top Focus: Retail sector tags record close, General Motors reaches uncharted territory, XRT, GM, LKQ, ANTM, JWNU.S. stocks are mixed early Monday, vacillating ahead of the Federal Reserve’s mid-week policy meeting. Against this backdrop, the Dow Jones Industrial Average is digesting an aggressive break to record territory, while the S&P 500’s slow-motion breakout attempt remains underway.
12:19 p.m. March 4, 2021 - By Mark DeCambre
Dow logs first close below 50-day moving average in over a month after Thursday's interest rate-fueled selloff The Dow Jones Industrial Average and the S&P 500 on Thursday marked their first finishes below their short-term moving averages in weeks after a market rout apparently precipitated by rising fears that the Federal Reserve may be losing control of inflation and may be forced to jack up borrowing costs faster than they would prefer to cool an overheated economy recovering from the COVID-19 pandemic lockdowns. The Dow closed down 1.1% at around 30,924 to mark its third straight decline, falling below its 50-day moving average at 30,944.98 for the first time since Feb. 1, while the S&P 500 index closed Thursday's trade 1.3% lower for its third consecutive drop, finishing at 3,769, concluding the session below its 50-day MA at 3,818.61 for the first time since Jan. 29.
10:27 a.m. March 4, 2021 - By Mark DeCambre
Buzzy stock-market ETFs backed by Portnoy and Wood get crushed Thursday afternoon as the Nasdaq nears correction Cathie Wood's flagship ARK Invest ETF and a VanEck Vectors Social Sentiment backed by Wall Street bro Dave Portnoy are down by at least 4%. The VanEck Vectors Social Sentiment ETF was down 4.3% in Thursday afternoon trade, in its debut. Meanwhile, Wood's ARK Innovation deepened its slide into correction on Thursday, off 6.6%. Both ETFs focus on drawing interest from many of the growthy tech stocks which are in the market's crosshairs as bond yields rise, including electric-vehicle maker Tesla Inc. . On Thursday, bonds took a leg higher after Federal Reserve Chairman Jerome Powell said he was watching the rise in rates but offered no concrete steps the central bank was taking to tamp down rate moves. The 10-year Treasury yield jumped by 7 basis points in afternoon action, hitting around 1.54% and accelerating a sell-off in stocks that are viewed as pricey and that don't offer a coupon. The tech-heavy Nasdaq Composite Index was down nearly 10% from its Feb. 12 peak, meeting the commonly used definition for a correction. The Dow Jones Industrial Average was down more than 400 points, or 1.3%, and nursing a 0.8% year-to-date gain. The S&P 500 index was down 1.6% and holding on to a 2021 gain of less than 0.1%. The Nasdaq Composite was negative for the year, down 1.4%.
10:26 a.m. March 4, 2021 - By Mark DeCambre
Wall Street's 'fear index' surges to highest level in about 5 weeks as Treasury-yield spike sparks stock-market selloffA closely watched gauge of expected stock-market volatility jumped Thursday to around its highest level since the end of January as a tech-led selloff dragged major benchmarks sharply lower. The CBOE Volatility Index is known by its ticker symbol "VIX", rose 5.07 points to 31.44, a gain of nearly 18%. A close at that level would represent the highest level for the so-called fear index since Jan. 29, according to Dow Jones Market Data. The VIX is an options-based measure of expected volatility over the coming 30 days for the S&P 500 . The VIX, which typically jumps during big stock-market selloffs, also tends to fall back during long, gradual rallies, and has remained stubbornly elevated above its long-term average of 19.50 as stocks pushed back into record territory in recent weeks. But a rise in yields and comments from Federal Reserve Chairman Jerome Powell on Thursday breathed new life into the yield rise and prompted a reassessment of stock values compared against rising fixed-income yields. The Dow Jones Industrial Average was under pressure and the technology-laden Nasdaq Composite Index was on the verge of tumbling into correction, defined as a decline of at least 10% from a recent peak.
10:09 a.m. March 4, 2021 - By Mark DeCambre
U.S. stock market close to wiping out 2021 gains as Thursday selloff gathers steam after Powell commentsThe three main U.S. equity benchmarks Thursday afternoon erased, or were close to erasing, their year-to-date gains as a rate-driven sell-off picked up momentum, following comments from Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average was down nearly 700 points, or 2.2%, lower pushing the index to a decline of 0.1% for 2021, the S&P 500 index was off 2.5% on the session, erasing its gains for the year and pushing the broad-market benchmark to a decline of 0.8% for 2021. The Nasdaq Composite Index , which was in the firing line of the decline by dint of the many technology and tech-related companies that make up the index, was teetering on the brink of the first correction, down 10% from a recent peak, since Sept. 9. At last check, the Nasdaq was down 11% from its recent low. The Nasdaq was off 3.3% on Thursday and down 2.5% for the year to date. Powell said the central is appropriate and suggested that moves in inflation are transitory, disappointing investors who had hoped him to say more about how the Fed would react to tamp down a rise in long-term bond yields, speaking at a webinar hosted by the Wall Street Journal.
9:50 a.m. March 4, 2021 - By Myra P. Saefong
Gold futures fall, but hold above the $1,700 markGold futures , as the 10-year Treasury bond yield climbed past 1.5%, pushing prices for the precious metal to their lowest settlement since June. During a Wall Street Journal webinar Thursday, he would be concerned about a disorderly move in the bond market, but suggested that hadn't yet had a material impact on financial conditions. The rise in bond yields has pressured prices for gold, which offers no yield. April gold fell $15.10, or 0.9%, to settle at $1,700.70 an ounce after touching a low at $1,693.90.
12:05 p.m. March 3, 2021 - By Mark DeCambre
Resurgence in Treasury yields hammers tech stocks, drives Nasdaq below 13,000 to mark worst 2-day skid in 6 monthsU.S. stock benchmarks on Wednesday closed lower and technology and tech-related shares got whacked as a continued rise in bond yields forced a rotational shift out of highflying tech and into areas of the market that might benefit from a regime of rising interest rates, like banks and energy . A report from the Federal Reserve's Beige Book, a survey of business conditions in the central bank's 12 regional districts, also showed only a modest uptick in economic activity to start the year, despite headway on COVID the vaccination front. The Dow Jones Industrial Average finished down by about 0.4% at 31,270, while the S&P 500 index closed off 1.3% at 3,820. The tech-laden Nasdaq Composite Index, took the brunt of the selling, off 2.7%, at 12,997 to mark the index's worst two-day skid since September, according to Dow Jones Market Data. Meanwhile, the initial public offering of health-care data company Oscar Health Inc. , finished down nearly 11% in its public debut. And the 10-year Treasury note was around 1.47%.
9:51 a.m. March 2, 2021 - By Myra P. Saefong
Gold futures log first gain in 6 sessionsGold futures , posting a gain for the first time in six sessions. "Gold's beatdown might be over" now that the global outlook might be showing some weak points, said Edward Moya, senior market analyst at Oanda. The global bond market selloff could very well resume, but "central banks are lining up to voice their concern over surging bond yields," he said. If the Federal Reserve "clearly signals they are in agreement with the other central banks, gold could easily get its groove back." April gold rose $10.60, or 0.6%, to settle at $1,733.60 an ounce. Prices settled Monday at their lowest since June 2020.
6:06 a.m. March 1, 2021 - By Mark DeCambre
Dow jumps 600 points early Monday, puts stock-market index on track for best day in 3 months as Treasury's yield surge cools U.S. stock benchmarks on Monday kicked off trade in March sharply higher, with some strategists attributing the enthusiasm to a cool-down in the rapid rise in bond yields that had unsettled the bullish mood on Wall Street last week. The Dow Jones Industrial Average was up 610 points, or 2%, to trade at 31,555, on track for its best day since November, according to FactSet data. The S&P 500 index was climbing 1.8% to trade at 3,880, while the Nasdaq Composite Index was advancing 1.7% to 13,423. Rising bond yields have threatened to undo easy-money policies implemented by the Federal Reserve to stem the economic harm from public health protocols to mitigate the spread of COVID-19. However, yields were pulling back on Monday, with the 10-year Treasury note yielding 1.43% from hitting near 1.6% on Friday.
9:35 a.m. Feb. 24, 2021 - By Myra P. Saefong
Gold futures settle under the key $1,800 mark Gold futures , ending under the key $1,800 mark for the first time this week. risen to their highest levels in roughly one year, "highlighting that markets appear to be more willing to accept the economic recovery narrative" and putting pressure on prices for gold, said Matt Orton, director and portfolio specialist with Carillon Tower Advisers. has "specifically commented that the recent rise in bond yields is a healthy sign of economic expectations and downplayed inflationary fears from U.S. fiscal policy," he said. "This optimism on the recovery, coupled with expectations for relatively benign inflation, presents a major headwind to gold." April gold fell $8, or 0.4%, to settle at $1,797.90 an ounce.
5:36 a.m. Feb. 24, 2021 - By Mark DeCambre
Stock-index futures skid south Wednesday morning as 10-year Treasury breaches 1.4%U.S. stock-index futures turned south as bond yields Tuesday morning took a leg higher, weighing on interest-rate sensitive assets. The move for bond yields, with the 10-year Treasury note breaching a rate at 1.4%, came as investors appeared to digest a report from the Food and Drug Administration, which said that Johnson & Johnson's single-dose COVID-19 vaccine candidate has no unexpected safety concerns, in a step that moves the experimental vaccine one step closer to emergency authorization. Futures for the Dow Jones Industrial Average declined 0.3% to 31,422, the S&P 500 index futures fell 0.3% at 3,867, while Nasdaq-100 futures declined 0.8% to 13,085, with the technology-laden index the most sensitive to yield moves. On Tuesday, the Dow , the S&P 500 index and the Nasdaq Composite Index stagewd a dramatic turnaround on the heels of comments from Federal Reserve Chairman Jerome Powell, who said accommodative policy would be in place for the foreseeable future.
9:48 a.m. Feb. 23, 2021 - By Myra P. Saefong
Gold futures finish slightly lower after Powell's congressional testimonyGold futures , following the two-day congressional testimony. The slight uptick in the U.S. dollar acted as a "modest headwind on precious metals," but there was a more notable correlation between gold and Treasury note yields, said Tyler Richey, co-editor at Sevens Report Research. "Treasury yields came off the morning highs as Powell reiterated a very dovish and patient policy stance, which saw gold stabilize and ultimately grind back" from bigger losses. April gold edged down by $2.50, or 0.1%, to settle at $1,805.90 an ounce after climbing 1.7% Monday.
5:59 a.m. Feb. 23, 2021 - By Mark DeCambre
Nasdaq gets punched in the mouth early Tuesday, on track for the biggest 2-day plunge in over five months as yields riseThe Nasdaq Composite Index on Tuesday morning was getting whacked for a second straight session as a rise in government bond yields was forcing a reassessment of the shares of highflying technology-related stocks. The Nasdaq was trading down 3.9% on Tuesday around its intraday nadir and at that level has skidded 5.9% over the paxt two sessions, on pace for its worst two-day slide since the two-day period ended Sept. 4, 2020 when it skidded 6.17%, according to Dow Jones Market Data. The slump for the tech-heavy benchmark comes as the 10-year Treasury note yield has risen to around 1.36%, marking its highest level in a year, compelling investors to reconsider the value of owning speculative tech stocks versus risk-free assets like bonds. Market participants were also awaiting testimony from Federal Reserve Chairman Jerome Powell on the economic outlook and the rise in bond yields.
12:08 p.m. Feb. 11, 2021 - By Mark DeCambre
S&P, Nadaq Composite notch closing records but Dow ends flat as investors struggle to eke out new peaksThe S&P 500 and the Nasdaq Composite finished at records on Thursday, with the indexes clawing back after relinquishing early gains in the session after all three benchmarks touched intraday records. Gains were powered by buying in technology shares but capped by a pullback in consumer staples and consumer discretionary sectors, as well as energy. The Dow Jones Industrial Average closed virtually unchanged at around 31,430, while the S&P 500 closed at a record at about 3,916, up 0.2%, and the Nasdaq Composite Index closed 0.4% higher at roughly 14,026. Markets focused on labor market data that showed that 793,000 Americans applied for first-time unemployment benefits in the week ended Feb. 6, while new applications for the prior week were revised higher to 812,000. That data came a day after Federal Reserve Chairman Jerome Powell emphasized that the central bank would continue to keep monetary policy easy, anticipating challenges with the labor market recovering from the COVID-19 pandemic without sufficient fiscal aid.
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.
12:02 p.m. Jan. 27, 2021 - By Mark DeCambre
Dow tumbles 630 points to mark worst selloff in 3 months as stock market fixates on surge in GameStop, AMC sharesThe Dow Jones Industrial Average on Wednesday booked its worst daily decline since late October, ringing up the fifth straight decline and its longest losing streak since February in the process. The drop for the Dow and the broader market comes as investors appeared increasingly concerned about COVID-19 vaccine distribution and fixated on the surge in prices in heavily shorted companies movie chain AMC Entertainment Holdings and videogame retailer GameStop Corp. , which have been propped up by a band of retail investors on social-media platforms. Meanwhile, the Federal Reserve kept its policy measures steady, as expected, but Chairman Jerome Powell offered a sober outlook for the ecoomy and market against the backdrop of the raging pandemic. The Dow [: DJIA] closed down 634 points, or 2.1%, to end at 30,302, on a preliminary basis, representing its sharpest one-day slide since Oct. 28. The fifth straight decline also was the most since a seven-session slide ended Feb. 28. The S&P 500 index retreated 2.6% to close around 3,750, also marking its worst day since late October. The Nasdaq Composite Index retreated 2.6% to 13,270. Fed Chair Jerome Powell stressed that the economy remained far from a recovery, but also underscored that recent asset gains have been driven largely by optimism about the rollout of vaccines to combat the coronavirus pandemic, as well as by fiscal policy, and not necessarily by accommodative monetary policy. Meanwhile, shares of GameStop ended 135% higher, putting it up 435% on the week. Those for AMC climbed over 300% and are up 467% thus far in the week.
10:08 a.m. Jan. 27, 2021 - By Mark DeCambre
Dow falls 410 points as Fed keeps policy plan steady as expectedU.S. stock benchmarks retained a sharp decline Wednesday afternoon after the Federal Reserve held monetary policy steady while noting that the sectors of the economy that have already been damaged by the coronavirus pandemic are experiencing another round of pain. The Dow Jones Industrial Average was trading 1.4% lower at 30,499, the S&P 500 index was down 1.7% at 3,785, while the Nasdaq Composite Index was off 1.2% at 13,475. The Fed in its statement said that the "pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic." The Fed's policy update comes as investors are worried about the pace of the recovery from COVID-19, with investors training their attention to pockets of bubbliciousness on Wall Street, including trading in stocks like GameStop , which are being viewed as indicative of the frothiness persistent in the market amid superlow interest rates and trillions in Fed liquidity. Still, Fed Chairman Jerome Powell has stressed repeatedly it is premature for the U.S. central bank to contemplate exiting its accommodative monetary policy stance. Powell is expected to hold a news conference to discuss policy with reporters at 2:30 p.m. Eastern. The Fed is expected to field questions about GameStop as a matter of potential spillover or systemic risk.
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).
Browse topics:

Filter results by

Industry

Financial Services (769)

Banks (278)

Mining And Metals (119)

Health-care (104)

Manufacturing (104)

Software (98)

Location

Us (1187)

Asia Pacific (246)

Europe (204)

Eu (186)

China (128)

Japan (80)

Issue

Commodities (465)

Economy (445)

Markets/exchanges (438)

General (382)

Market News (336)

Bond Market (272)

Link to MarketWatch's Slice.