7 Apr

S&P 500 Is Stable amid Trump-Xi Summit

WRITTEN BY Val Kensington

S&P 500

After a volatile day on Wednesday, the S&P 500 regained some strength on April 6. It bounced back from its 50-day moving average and closed positive. Seven out of 11 major S&P 500 sectors closed positive on Thursday. The energy sector led the market.

S&P 500 Is Stable amid Trump-Xi Summit

Trump-Xi Summit

On Thursday, the market was higher ahead of a two-day summit between President Trump and President Xi Jinping. Trump’s Administration made it clear that the summit is just a relationship-building meeting. It isn’t a major political meeting. The main objective is to set a framework for discussions on trade and investment. Economic data also supported the sentiment. According to the Department of Labor, US initial jobless claims fell to 234,000 last week from 259,000 jobless claims. It’s less than 250,000 expected jobless claims and the highest weekly decline in almost two years.

US attacked Syria 

The market’s focus shifted to the US attack on Syrian airfields on Thursday night. According to the military, the cruise missile launch on Syria is in response to Syria’s use of banned chemical weapons. It added that the target was Shayrat Airfield in Homs province in western Syria. Shayrat Airfield is where the chemical weapons were made. According to reports, the attack didn’t disable the entire Shayrat Airfield base. It was meant to disable the base’s ability to support another chemical attack.

The market is also looking forward to the release of private non-farm payrolls and unemployment rate data scheduled to release on Friday. It also focuses on FOMC member Dudley’s speech scheduled after the economic data release.

Latest articles

16 Jul

PG&E Stock Continued to Slide on July 15

WRITTEN BY Vineet Kulkarni

The large swings for PG&E (PCG) stock may not end anytime soon.

On Wednesday, United Rentals is scheduled to report its second-quarter results after the market closes. The stock beat analysts' estimates in 12 of the last 13 quarters.

16 Jul

Q2 Earnings Were a Mixed Bag for J.B. Hunt

WRITTEN BY Anirudha Bhagat

J.B. Hunt reported mixed Q2 earnings, as its revenues grew YoY but earnings declined.

16 Jul

What to Expect From Nucor’s Q2 Earnings This Week

WRITTEN BY Mohit Oberoi, CFA

Nucor is scheduled to release its second-quarter earnings on Thursday. The company has seen an upwards price action of 7.4% year-to-date.

16 Jul

Will HollyFrontier's Q2 Results Improve?

WRITTEN BY Maitali Ramkumar

HollyFrontier (HFC) is expected to release its second-quarter results on August 1.

On Monday, Citigroup downgraded Tiffany (TIF) stock to “neutral” from “buy” and reduced its target price to $100 from $115 per share.