Wall Street stocks plunged for a fourth straight session Monday amid rising doubts over the US economy after Treasury Secretary Steven Mnuchin's efforts to reassure investors fell flat. The Dow Jones Industrial Average slumped more than 650 points, or 2.9 percent, to 21,792.20. The broad-based S&P 500 fell 2.7 percent to 2,351.11, while the tech-rich Nasdaq Composite Index slid 2.2 percent to 6,192.92. Alarmed traders are now sending the S&P 500 to its largest annual drop since 2008 as Mnuchin's efforts to reassure them seemed to have backfired. CNBC reported the losses were the worst ever for Wall Street on Christmas Eve, a holiday shortened session ahead of Tuesday's holiday, when markets will be closed. The Wall Street dive was helped by U.S. President Donald Trump's tweet criticizing Federal Reserve Chairman Jerome Powell. "The only problem our economy has is the Fed. They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even … [Read more...] about US stocks post worst ever Christmas Eve drop, sending S&P 500 to its biggest annual fall since 2008
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Adam Shell USA TODAY Published 5:04 PM EDT Oct 29, 2018 Wall Street took investors on a wild ride Monday, with the Dow swinging more than 900 points before closing down for the day. The Standard & Poor's 500 also shifted violently but avoided ending in official "correction" territory. The latest sell-off was prompted by renewed tariff worries. The Dow Jones industrial average rose more than 350 points in morning trading before going into a free-fall that dragged it down 566 points from Friday's close. When trading ended, the blue-chip average was down 245 points, or 1 percent, at 24,443. The broad S&P 500, which was up as much as 2 percent and fell nearly 4 percent from its high point for the day, closed down 0.7 percent at 2641.25 – or 9.9 percent off its Sept. 20 high. That left the index just shy of the 10 percent drop needed for a correction. Stocks, which have been under pressure for weeks since the S&P 500 hit … [Read more...] about How did stock market do today? Wild day but S&P 500 avoids correction.
S&P 500, Nasdaq and Russell 2000 close at record highs BelfastTelegraph.co.uk Wall Street has ended a week of milestones with a few more on Friday. https://www.belfasttelegraph.co.uk/news/world-news/sp-500-nasdaq-and-russell-2000-close-at-record-highs-37249933.html https://www.belfasttelegraph.co.uk/news/world-news/article37249934.ece/5077a/AUTOCROP/h342/bpanews_41e29833-1ea4-47cc-9613-7131ca5108a6_1 Email Wall Street has ended a week of milestones with a few more on Friday. The benchmark S&P 500 index closed at an all-time high, just two days after the current bull market in US stocks became the longest in history. The Nasdaq composite and the Russell 2000 indexes also ended the day at all-time highs. Technology companies, the best-performing sector in the market this year, accounted for much of the gains. The price of oil snapped a seven-week losing streak, finishing this week about 5% higher. The rally capped another solid week for the stock market, which has been … [Read more...] about S&P 500, Nasdaq and Russell 2000 close at record highs
After a seven-month stall, Wall Street's bull market looks back on track, thanks to Amazon.com, Alphabet and other high-flying technology and consumer discretionary companies. The widely followed S&P 500 stock index rose as much as 0.57 percent on Tuesday to 2,873.23, putting it above its previous record high of 2,872.87 on Jan. 26. Bolstered by quarterly earnings reports and a rise in stock buybacks, the benchmark S&P 500 has gained over 2 percent in the past month. Closing above the January high would mean that the benchmark index ended a correction on Feb. 8, according to some investors. Confirmation that the bull run remains alive comes on the day the S&P matches its longest rally in history, 3,452 days between November 1990 and March 2000, according to S&P Dow Jones indices. On Wednesday, it could claim the title of longest ever. Following its January high, the S&P 500 slumped 10.2 percent over two weeks, just meeting many investors' definition of a market … [Read more...] about The bull that won’t die: S&P 500 back at a record after months on ice
A week of tumult on the trade front was also the best week in a month for S&P 500 bulls. Active stock managers weren’t celebrating.They’ve watched in shock as the best-laid efforts to beat benchmarks are squeezed as the contour of the rally shifts. Funds are being betrayed by the companies they love, including tech megacaps and banks, as ones they ignored in industries such as telecom and consumer staples vault to the top.For the sixth time in seven weeks, companies with the highest ownership among funds trailed those with the lowest, data from Goldman Sachs showed.If you own a broad-market exchange-trade fund, who cares? But if you’re a fund manager who thought 2018 would be a renaissance year for stock picking, the dream is being deferred. Large-cap funds beating benchmarks this year slipped to 47 percent in June from 52 percent the previous month, data compiled by Bank of America showed.“The 180-degree turn from the consensus has roiled a number of … [Read more...] about A Good Week for the S&P 500 Held More Bad News for Active Funds