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Inventory futures are flat as S&P 500 and Nasdaq sit at a document

Stock futures are flat as S&P 500 and Nasdaq sit at a record

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, USA on Monday, August 23, 2021.

Michael Nagel | Bloomberg | Getty Images

US stock futures remained stable in overnight trading on Sunday as investors prepared for the final days of trading in August.

Dow futures only rose 11 points. S&P 500 futures were little changed and Nasdaq 100 futures traded around the flatline.

Stocks could stay in a range until the August job report released on Friday. Economists polled by Dow Jones estimate that 750,000 jobs were created in August and the unemployment rate has fallen to 5.2%.

Monday and Tuesday mark the last two trading days in August. So far, the S&P 500 is up 2.6% in August. The Dow Jones Industrial Average and Nasdaq Composite rose 1.5% and 3.1% respectively that month.

The S&P 500 and Nasdaq Composite closed at all-time highs on Friday as investors breathed a sigh of relief after Fed chairman Jerome Powell signaled that bonds could expire this year, but the central bank is in no rush to lock rates raise.

Powell said inflation is solidly around the central bank’s 2% target rate, one of the targets of the Fed’s dual mandate; However, the Fed chairman also explained why he continues to believe that the current rise in inflation is temporary and will eventually decline to target levels.

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Based on statements from other Fed officials, the announcement could be cut back at the Fed’s September 21-22 meeting. Powell said the central bank had “a lot of ground to overcome” in order to achieve its other goal of maximum employment.

Friday’s gains contributed to a strong week for major averages. The Dow closed 0.9% while the S&P 500 added 1.5% and the Nasdaq Composite rose 2.8% last week.

With the Fed’s meeting in Jackson Hole looking back, investors are now focusing on the performance of stocks for the final months of the year. The S&P 500 is up more than 20% in 2021, but the market is also absorbing top policy momentum, top profit accelerations, and top reopening momentum.

Oil futures rose slightly as the commodity reacted only minimally to Hurricane Ida. WTI crude oil futures rose 0.8%.

Cloudera and Zoom Video will report earnings after the bell on Monday.

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S&P 500 futures are flat close to report ranges forward of Fed summit

S&P 500 futures are flat near record levels ahead of Fed summit

A trader works on the New York Stock Exchange (NYSE) in New York on August 20, 2021.

Andrew Kelly | Reuters

S&P 500 futures were lower Thursday after the benchmark surged above 4,500 for the first time in the previous session and ahead of the Federal Reserve’s annual symposium on Friday.

S&P 500 futures lost 0.02% and Nasdaq 100 futures lost 0.1%. The Dow Jones Industrial average futures were unchanged.

The weekly initial jobless claims totaled 353,000 as expected, the Department of Labor reported Thursday morning. Economists polled by Dow Jones expected 350,000 Americans to register as unemployed last week, compared with 348,000 the previous week.

Economic growth in the second quarter was 6.6% according to the second estimate by the Department of Commerce on Thursday. This was a slight upward correction from the previously reported annual increase of 6.5%.

The Federal Reserve’s much-anticipated Jackson Hole Symposium will be held virtually on Friday this year, with many central bank speakers expected to make remarks to the media starting Thursday. At the event, central bankers could share their plan to curb monetary stimulus.

Esther George, president of the Kansas City Fed, told CNBC Thursday morning that “given the progress we’ve seen,” a Fed throttling is “appropriate”, although she did not specify when she thought it should begin.

“If you look at the job growth last month, the month before, if you look at the current level of inflation, I would think that the level of housing we are currently offering is probably not needed in this scenario,” she said “So I would be ready to talk about tapers sooner rather than later.”

Salesforce shares rose 2% in pre-trading hours after the software giant released second-quarter results and forecasts that beat analysts’ estimates. Ulta Beauty increased 5% due to strong results.

Zoom Video’s shares rose more than 2% after Morgan Stanley upgraded the stock and forecast an 18% uptrend.

On Wednesday, the S&P 500 gained 0.22% to close on a record, led by stocks that are benefiting from the economic reopening such as airlines, cruise lines and financial companies. The 500-share average broke above 4,500 for the first time on Wednesday, but closed below that level. The benchmark is up 105% from its pandemic low.

The Nasdaq Composite rose 0.15% and also hit a record close. The Dow Jones Industrial Average rose 39 points.

“While we continue to believe in the secular bull market for US stocks, we have proposed some cash in the face of lower highs (including bearish divergences) on a variety of indicators, weaker August and October seasonality, and the transition of the presidential cycle into its weakest phase in US stocks and declining signals from margin debt, “wrote Stephen Suttmeier, Technical Research Strategist at Bank of America.

The benchmark 10-year government bond yield rose as high as 1.352% on Wednesday as worries about slowing growth in the Delta variant eased, reaching its highest level since the beginning of the month when it returned as high as 1.364%.

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“The yield on 10-year government bonds has continued to rise in the last few days and has exploded in [Wednesday’s] act and send a strong message that the US Delta variant of Covid may be peaking, which should build confidence, resume economic reopening and stimulate investment flows towards small caps and cyclical stocks, “said Jim Paulsen, Chief Investment Strategist at the Leuthold Group.

Chairman Jerome Powell will make remarks at the Fed summit on Friday. In response to the pandemic, the Federal Reserve has bought at least $ 120 billion a month in bonds to curb longer-term interest rates and stimulate economic growth.

“Expect investors to keep an eye on the Fed symposium for the remainder of this week for comments on the rate hike or the timing of rate hikes,” Paulsen said. “Either unexpected comments from the Fed or a failure or success in scaling up to 4500 could add additional volatility to the equity and bond markets.”

Several companies reported quarterly earnings on Thursday, including Dell Technologies, Gap, HP and Abercrombie & Fitch.

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Inventory futures are flat after Dow closes at file Friday

Stock futures are flat after Dow closes at record Friday

A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York, August 5, 2021.

Andrew Kelly | Reuters

Stock futures were flat in overnight trading Sunday after the Dow Jones Industrial Average notched a record close Friday following a stronger-than-expected jobs report.

Futures on the Dow added 2 points, or 0.01%. S&P 500 futures edged 0.06% lower and Nasdaq 100 futures dipped 0.13%.

U.S. senators reconvened Sunday to work toward the passage of a $1 trillion infrastructure bill, a top political priority of President Joe Biden. The Senate is slated to hold another key procedural vote late Sunday and vote on final passage Tuesday. The bipartisan package is expected to have sufficient Republican support to pass in the Senate and move to the House for consideration in September.

The moves in futures trading came after the Dow rose 144.26 points, or 0.4%, to close at an all-time high of 35,208.51. The S&P 500 rose 0.17% to reach its own record close of 4,436.52. The Nasdaq Composite bucked the trend, dipping 0.4% to 14,835.76. All three major indexes ended the week higher and saw their second positive week in three.

The Labor Department jobs report Friday showed the U.S. economy added 943,000 jobs in July. Economists expected 845,000 new jobs last month, according to Dow Jones estimates. The unemployment rate dropped to 5.4%, below the expectation of 5.7%.

“You saw a lot more jobs being created in those areas that are reopening — restaurants, hotels, logistics, transportation,” Raymond James Chief Investment Officer Larry Adam said. “That’s a good sign. I think that puts more spending power behind the consumer going forward and I think that that’s ultimately a good thing for the economy.”

The signs of a strong economic recovery could prompt the Federal Reserve to pull back its monetary support measures and prepare to begin tapering its bond-buying program.

“If it does continue to this magnitude, that probably does bring the Fed a little sooner into the game when it comes to tapering,” Adam said.

The yield on the benchmark 10-year Treasury note jumped as high as 1.3% after the better-than-expected jobs report. The 10-year yield this summer has pulled back significantly from its highs in March, when it neared 1.8%.

The financial sector led gains Friday as rates edged up, increasing banks’ profitability prospects. Industrials, retailers and energy stocks also moved higher as the strong jobs report eased concerns about the economic recovery.

Meanwhile, technology stocks retreated after the jump in rates. Rising rates discount the value of future earnings and therefore can hit growth stocks like technology names particularly hard.

Investors are awaiting key inflation data scheduled for release this week. The consumer price index and the producer price index are scheduled to come out Wednesday and Thursday, respectively.

Several Fed officials are scheduled for speaking appearances in the week ahead, with investors listening with a close ear for insights into the central bank’s tapering decision making. Atlanta Fed President Raphael Bostic, Richmond Fed President Thomas Barkin, Chicago Fed President Charles Evans and Kansas City Fed President Esther George are all set to speak this week.

Companies including Tyson Foods, AMC Entertainment, Coinbase, Lordstown Motors, Bumble, Palantir, Disney, Airbnb and DoorDash are set to report quarterly earnings this week.

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World News

Inventory futures are flat after market sell-off

Stock futures are flat after market sell-off

Traders on the floor of the New York Stock Exchange.

Source: NYSE

Stock futures were flat in overnight trading on Thursday after major indices fell on concerns over slowing economic growth.

Futures on the Dow Jones Industrial Average lost 25 points, or 0.07%. S&P 500 futures and Nasdaq futures were each down 0.10%.

Thursday’s losses came as the spread of the highly contagious Delta-Covid variant also fueled concerns over the global economic recovery. The Olympics announced a ban on spectators for the Tokyo Summer Games when Japan declared a state of emergency to curb the spread of the coronavirus.

The Dow closed Thursday’s regular session 259.86 points, or 0.75% lower. The S&P 500 lost 0.86% while the Nasdaq broke its four-day winning streak, down 0.72%.

All three major averages are on track to close lower for the week.

Stocks of companies tied to the economic comeback weighed on the market on Thursday. Large cruise lines, airlines, and home improvement stocks plummeted. Chip stocks also fell, and big tech names fell after rising in previous sessions.

“[T]The market continues to consider what to do after spikes in growth and the Fed will turn the tap (which has not necessarily happened yet) and ahead of a profitable season in Q221 starting next Tuesday, “Goldman Sachs’ Chris Hussey said in a statement on Thursday .

The latest unemployment claims report, released Thursday, also indicated a potential slowdown in the labor sector as first-time applicants for unemployment benefits unexpectedly rose to 373,000 in the week ending July 3. According to the Dow Jones, economists wanted 350,000 initial applications.

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Dow ends day flat as financial comeback performs offset losses in tech

Dow ends day flat as economic comeback plays offset losses in tech

Trader on the New York Stock Exchange, June 2, 2021.

Source: NYSE

Cyclical stocks lifted the Dow Jones Industrial Average from its lows on Thursday and closed the session near the downside, while better-than-expected job data supported sentiment.

The blue-chip Dow closed just 23.34 points, or less than 0.1%, at 34,577.04 after losing 265 points from its session low. The S&P 500 lost 0.4% to 4,192.85 and the tech-heavy Nasdaq Composite fell 1% to 13,614.51.

The S&P 500 benchmark is about 1% off its all-time high hit early last month, but it has remained at that level for about two weeks. The S&P 500 is up more than 11% so far this year.

Merck and Dow Inc. were the top two performers in the 30-stock benchmark, both up more than 2%. Consumer staples and utilities were the biggest winners among the 11 S&P 500 sectors, while consumer discretionary and technology weighed on the broader market, falling 1.2% and 0.9% respectively.

General Motors shares rose nearly 6.4% after the company announced it would hit its results for the first half of 2021 “significantly better” than its previous projections.

On the data front, private employment growth accelerated the fastest in nearly a year in May, as companies hired nearly a million workers, according to a report by payroll firm ADP on Thursday.

The total new hire was 978,000 for the month, a huge jump from 654,000 in April and the largest increase since June 2020. Economists polled by Dow Jones had searched for 680,000.

Meanwhile, initial jobless claims for the week ending May 29 were 385,000, up from a Dow Jones estimate of 393,000. It was also the first time jobless claims fell below 400,000 since the early days of the pandemic.

“With ADP kicking it out of the park and jobless claims breaking the 400,000 mark – a pandemic low – all eyes will be on the bigger picture of jobs tomorrow,” said Mike Loewengart, a managing director at E-Trade. “With all systems seemingly working on the job front, the economy is showing some very real signs that this is not just a comeback – a mode of expansion could be on the horizon.”

According to economists polled by Dow Jones, the market could be on hold ahead of the job report released on Friday, which is expected to show an additional 671,000 non-agricultural payrolls in May. The economy created 266,000 jobs in April.

Investors continued to watch the wild action in meme stocks, particularly theater chain AMC Entertainment. The stock plunged up to 30% after practically doubling in the previous session, but the stock reduced its losses after the cinema chain said it closed a stock offering a few hours ago that raised $ 587 million. The stock ended the day around 18% lower.

Other meme stocks also came under pressure on Thursday. Bed Bath & Beyond fell more than 27%. The SoFi Social 50 ETF (SFYF), which tracks the 50 most widely used US publicly traded stocks on SoFi’s retail brokerage platform, slumped more than 6%.

In memory of what happened earlier this year, the joint rally of retailers on Reddit sparked a short squeeze on AMC earlier this week. S3 Partners said short sellers betting against the stock lost $ 2.8 billion on Wednesday as stocks rose. So their losses since the beginning of the year amount to more than 5 billion US dollars, according to S3. If it continues to recover, short sellers are forced to buy back the stock to reduce their losses.

GameStop’s meme stock bubble earlier this year weighed a little on the market as investors feared there was too much speculative activity in the stock market. As losses in hedge funds, which bet against the stock increased, worries mounted about a decline in risk appetite on Wall Street that could hit the broader market. AMC’s recent surge so far didn’t seem to raise any similar concerns.

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Business

Retail Gross sales Had been Flat in April

Retail Sales Were Flat in April

Retail sales were flat after a brisk March last month, the Department of Commerce said Friday as Americans resumed their final round of government economic reviews.

The April number was a slowdown from the previous month, as retail sales rose 10.7 percent as vaccinations increased and people outside their homes became more comfortable and spent more money on clothing, restaurants, bars and sporting goods. Retail sales, which saw a record decline at the start of the pandemic just over a year ago, have been closely watched as monthly measures of the health of the economy and consumer attitudes.

Morgan Stanley economists had expected retail sales to grow smaller in April compared to March, based on the distribution of stimulus checks. Around 83 percent of this last round was distributed in the second half of March.

This is a developing story. Check for updates again.

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S&P 500 is flat amid combined earnings outcomes, looming Fed resolution

5 things to know before the stock market opens Monday, April 12

US stocks were flat on Wednesday as investors digested key technology earnings and prepared for the recent Federal Reserve policy announcement.

The S&P 500 hovered over the flatline but hit a new intraday record at the beginning of the session. The Dow Jones Industrial Average lost 140 points, hurt by a 7% decline in Amgen stock. The Nasdaq Composite was up 0.1%.

Boeing lost about 2% after posting its sixth straight quarterly loss, which also weighed on the Dow.

The Google parent alphabet reported a better-than-expected result on Tuesday after the bell, sending the tech giant’s shares up more than 4%. Alphabet saw sales grow 34% year over year.

Meanwhile, Microsoft shares fell about 2.5% even after the company beat analyst earnings. Microsoft saw the largest revenue growth since 2018, in part due to the increase in PC sales due to the coronavirus-induced shortage last year.

AMD and Visa holdings were higher after results turned out to be better than expected.

The Fed concludes its two-day meeting on Wednesday. The central bank is not expected to take action, but economists expect it to defend its policy of temporarily heating inflation. Fed Chairman Jerome Powell will hold a press conference 30 minutes after the decision is announced at 2:30 p.m. ET. These comments could move the markets.

“Any advice given in the Board of Directors’ statement or in the subsequent press conference about a possible reduction in QE – when and how quickly – would likely move both the equity and bond markets,” said Paulsen.

Tech darlings Apple and Facebook will report their winnings on Wednesday after the bell.

“Lots of FAANGs are reporting this week and the stock market can wait for some of these key reports to be released before deciding on the next major direction,” said Jim Paulsen, Leuthold Group’s chief investment strategist.

On Tuesday, the most important averages around the flatline were traded. The Dow Jones Industrial Average only rose 3 points. The S&P 500 closed flat after hitting an all-time high on Monday. The Nasdaq Composite was the relative underperformer, falling 0.34% while Tesla fell 4.5%.

Elsewhere later on Wednesday, President Joe Biden will unveil a $ 1.8 trillion new spending and tax credit plan aimed at helping families. The Biden government’s new spending plan would raise the highest income tax rate for the richest Americans to 39.6% and raise capital gains taxes to 39.6% for households earning more than $ 1 million, according to senior government officials. Stocks had taken a hit last week when reports of the tax hike surfaced.

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Inventory futures are flat after S&P 500 and Nasdaq shut at information, Tesla shares decline

Stock futures are flat after S&P 500 and Nasdaq close at records, Tesla shares decline

Stock futures were unchanged on Tuesday as investors braced themselves for a large amount of technical gains.

Futures on the Dow Jones Industrial Average lost 30 points. The S&P 500 futures were flat. The Nasdaq 100 futures were also flat.

Tesla’s shares fell 3% in premarket trading even after the electric automaker posted a record $ 438 million profit. Tesla also significantly exceeded Wall Street’s earnings and earnings expectations, fueled by bitcoin sales and regulatory credit. Stocks have struggled this year, more than 18% from their record. Though the stock is still up 360% over the past 12 months.

The winning season for the first quarter starts in full swing on Tuesday. Major tech companies like Alphabet, Microsoft, and AMD are reporting after the bell.

So far, 84% of companies have had a positive earnings surprise, according to FactSet, as around a third of the S&P 500 have reported numbers. However, share movements were relatively subdued after the strong results as the market was at record levels with high valuations.

GameStop’s stock rose more than 8% in premarket trading after the video game retailer said it sold 3.5 million additional shares and raised $ 551 million to accelerate the company’s e-commerce transformation .

The S&P 500 rose to another record high on Monday, while the tech-heavy Nasdaq Composite rose 0.9% to hit its first new record high since February 12.

“Strong action suggests stocks may have even more upside,” said Jeff Buchbinder, equity strategist at LPL Financial. “Although valuations are elevated, they still seem reasonable given interest rates and inflation.”

The Federal Reserve starts its two-day session on Tuesday. The central bank is not expected to take action, but economists expect it to defend its policies to keep inflation running hot.

Apple and Facebook wins will follow after the bell on Wednesday.

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S&P 500 rebounds greater than 1%, ends the risky week flat

S&P 500 rebounds more than 1%, ends the volatile week flat

US stocks rebounded on Friday as Wall Street reevaluated concerns raised by news that the White House might seek a capital gains tax hike.

The Dow Jones Industrial Average rose 227.59 points, or 0.7%, to 34,043.49 as Goldman Sachs and JPMorgan stocks rose 227.59 points, or 0.7%. The S&P 500 rose 1.1% to 4,180.17, led by Financials and Materials, while the tech-heavy Nasdaq Composite rose 1.4% to 14,016.81.

The S&P 500 ended a turbulent week down just 0.1%, while the Dow and Nasdaq fell 0.5% and 0.3%, respectively, over the course of the week.

Wall Street had a tumultuous meeting for stocks after several news outlets reported Thursday afternoon that President Joe Biden is expected to propose much higher capital gains taxes for the rich.

Bloomberg News reported that Biden plans to increase capital gains tax up to 43.4% for wealthy Americans.

The proposal would increase the capital gains rate for those earning $ 1 million or more from the current 20% to 39.6%, Bloomberg News said, citing people familiar with the matter. Reuters and the New York Times later also reported similar stories.

However, given tight Democratic majority control in Congress, such tax legislation could face challenges, and many on Wall Street believe a less dramatic increase is more likely.

“We expect Congress to pass a scaled-down version of this tax hike,” Goldman Sachs economists wrote in a note. “We expect Congress to agree on a more modest increase, possibly 28%.”

Meanwhile, US taxable domestic investors own only about 25% of the US stock market, according to UBS. The rest of the market is in accounts that are not subject to capital gains tax, such as B. Retirement accounts, foundations and foreign investors. Therefore, even with a higher tax rate, the impact on overall stock prices should be limited.

“We would expect opportunistic investors who are not affected by this proposal to step in and benefit from lower prices,” said UBS strategists in a statement on Friday.

Intel stock fell more than 5% after it released an earnings forecast in the second quarter that fell below analysts’ hopes. American Express fell over 4% after the credit card company reported quarterly revenue that fell slightly short of forecast.

Snap stock, meanwhile, rose 7.5% after the company posted accelerated revenue growth and strong user numbers in the first quarter. Snap broke even on balance with sales of $ 770 million.

Companies so far have largely managed to beat Wall Street’s predictions for the earnings season. Even so, strong first quarter results have been met with a tepid reaction from investors who have not yet bought shares in companies with some of the best performing.

Strategists say that already high ratings and near record highs for the S&P 500 and Dow have kept traders’ excitement in check. However, the indices are within 1% of their all-time high.

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Inventory futures are flat forward of earnings season kickoff

Stock futures are flat ahead of earnings season kickoff

US stock futures were unchanged in overnight trading on Tuesday before the first corporate profits were made.

Dow futures only fell 10 points. S&P 500 futures rose 0.03% and Nasdaq 100 futures fell 0.02%.

On Tuesday, the S&P 500 rose 0.4% to close at a record high. Stocks shook off calls by the Food and Drug Administration to halt Johnson & Johnson’s Covid-19 vaccine delivery after six people in the U.S. developed a rare blood clot disorder. Moderna stock rose more than 7% on the news.

After Tuesday’s bell, Pfizer CEO Albert Bourla said the drug maker could deliver 10% more vaccine doses to the US than previously expected by the end of May. Also, Moderna said his Covid-19 vaccine was more than 90% effective against the virus six months after a person was shot twice.

The tech-heavy Nasdaq Composite gained more than 1% on Tuesday, with Amazon, Apple, Alphabet, Netflix, Microsoft and Tesla all closing higher.

The Dow Jones Industrial Average lost 68 points after losing more than 150 points at the start of the session.

The Department of Labor’s consumer price index fell a little hotter than expected on Tuesday. The CPI rose by 0.6% on the previous month, but by 2.6% on the same period of the previous year. Economists surveyed by Dow Jones forecast an increase in the overall index of 0.5% compared to the previous month and 2.5% compared to the previous year.

Investors prepare for the first wave of corporate earnings on Wednesday when JPMorgan, Goldman Sachs and Wells Fargo report before the bell. Bank stocks have so far risen sharply this year, with the KBW Bank Index clearly outperforming the S&P 500.

Analysts expect investment banking results to be strong, but credit growth to slow. In addition, the release of credit reserves could lead to high profit figures.

Market participants will also pay attention to Coinbase’s direct listing on Wednesday. Crypto investors are hailing the company’s public debut as a major milestone for the industry after years of skepticism from Wall Street and regulators. Bitcoin price rose to a new record high of more than $ 63,500 on Tuesday.

Federal Reserve Chairman Jerome Powell will speak at the Economic Club of Washington on Wednesday at 12:00 noon on the economic recovery from the pandemic.

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