U.S. stocks fell Tuesday as investors worried about global growth prospects after data showed U.S. factory activity shrank in August for the first time since 2016 and the United States and China imposed new tariffs on each other over the weekend.
A prominent Wall Street strategist told CNBC the stock market may see a "wartime boom" next year following the US economy's "depression-like collapse." Jim Paulsen is one of a hand full of economists who have predicted US GDP could rebound strongly in the first quarter next year. Paulson said companies have cut down on costs and increase efficiencies to survive the collapse. "A lot of that boom will fall to the bottom line in a bigger way than people currently expect," Paulsen said.
Business Insider reports that banks' and tech giants' earnings largely impressed Wall Street. Bank of America says discount stores are set to post similarly positive results, according to Bank of America. BoA analysts expect the sector's second-quarter figures to hold strong thanks to rising food sales and improvement in general merchandise revenue. Thanks to momentum in higher-profit categories and successful online operations Walmart, Target, and Dollar Tree are in good positions.
Wall Street ended higher after a choppy session on Tuesday, but they were capped by declines in AIG and Microsoft. As Fred Katayama reports, Disney shares shot higher after its adjusted profit handily beat expectations.
Wall Street analysts on Wednesday weighed in on AMC Theatres' historic agreement with Universal Pictures that will allow the studio's movies to be made available on premium video-on-demand after just 17 days of play in cinemas.
Credit: The Hollywood Reporter Duration: 01:27Published
On Wednesday, US stocks rose. Investors reacted to positive coronavirus vaccine news. Shares of Moderna spiked after President Trump announced the US government will by 100 million doses of its coronavirus vaccine. Tesla shares jumped after the company announced a five-for-one stock split. Oil prices climbed after a report suggested that American crude stockpiles shrank last week.
The Dow jumped 1%, the S&P 500 inched up and the Nasdaq closed lower Monday as investors extended a rotation into value stocks from heavyweight tech-related names while awaiting news on progress in a U.S. fiscal support bill. Fred Katayama reports.
On Monday, US stocks climbed 300-points. Investors warmed to President Donald Trump's weekend stimulus orders against China tensions and new coronavirus cases. On Saturday, President Trump signed executive actions extending coronavirus aid after Congress failed to come to an agreement last week. US-China tensions escalated when China imposed fresh sanctions on several members of Congress over Hong Kong.
The Nasdaq jumped more than 1% on Friday, powered by strong earnings from some of the largest U.S. companies, but the Dow and S&P finished with smaller gains as uncertainty about the government's next round of coronavirus aid kept economic worries on the radar. Fred Katayama reports.
The S&P 500 and the Nasdaq finished slightly higher on Friday but the Dow closed with a loss as investors kept an eye on record new coronavirus cases in the U.S. Conway G. Gittens wraps up the trading action.
The S&P 500 ended slightly lower Thursday after briefly trading above its record closing high level for a second day, and the Dow also fell in the wake of a disappointing forecast from Cisco Systems. Fred Katayama reports.
National Securities' Art Hogan says people shouldn't change their long-term investment plans for the presidential election. He also tells Reuters' Fred Katayama they should hold tech and cyclical stocks amid the current market rotation.
Walmart delayed the July launch of its subscription service. Business Insider reports that Walmart needs to debut soon to avoid missing out on holiday sales. The 2020 holiday shopping season is most likely going to move entirely online. Walmart+ has a clear chance to highlight its value to consumers. Walmart was originally set to introduce its Walmart+ subscription service this spring. It pushed the debut back to July due to the coronavirus pandemic, but its launch has now been postponed again.
ExxonMobil posted a $1.1 billion second-quarter loss and Chevron lost $8.3 billion as oil prices crashed and a global pandemic sparked a drop-off in worldwide demand for oil. Conway G. Gittens has the numbers.
Another day, another Apple event. Here's what TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer and AAP research analyst Zev Fima are watching on Wall Street. China by the Numbers..