Author: admin

Stocks ended sharply lower Friday, with the Dow industrials dropping over 600 points after a pickup in January wage growth sparked inflation fears, sending bond yields higher. A rise in yields unsettled stock market investors, with losses for equities snowballing over the course of the session, leaving the Dow to end down 665.75 points, or 2.5%, at 25,520.96, according to preliminary figures, while the S&P 500 ended down 2.1% at 2,762.12. For the week, the Dow shed 4.1%, while the S&P 500 lost 3.9% for the biggest one-week declines since January 2016. The Nasdaq Composite dropped 144.91 points, or 2%, to end at 7,240.95, logging a weekly decline of 3.5%, the largest since February 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Stocks ended sharply lower Friday, with the Dow industrials dropping over 600 points after a pickup in January wage growth sparked inflation fears, sending bond yields higher. A rise in yields unsettled stock market investors, with losses for equities snowballing over the course of the session, leaving the Dow to end down 665.75 points, or 2.5%, at 25,520.96, according to preliminary figures, while the S&P 500 ended down 2.1% at 2,762.12. For the week, the Dow shed 4.1%, while the S&P 500 lost 3.9% for the biggest one-week declines since January 2016. The Nasdaq Composite dropped 144.91 points, or 2%, to end at 7,240.95, logging a weekly decline of 3.5%, the largest since February 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Canadian dollar slipped against its U.S. rival on Friday, as Prime Minister Justin Trudeau said Canada would be willing to walk away from the North American Free Trade Agreement if a bad deal was proposed, according to local reports. Trudeau, who was speaking at a town-hall meeting in British Columbia, added that he remained confident that the trade pact had been beneficial for the U.S., as well as Canada. The renegotiation talks for Nafta are set for a seventh round later this month in Mexico City, but market participants expect additional round to be added. The U.S. dollar, which was already stronger on the back of supportive data, rallied 1.3% against the Canadian dollar , last buying C$1.2427, compared with C$1.2267 late Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Industrial Average tumbled nearly 700 points on Friday to cap an ugly week of trade after a stellar January for the blue-chip gauge. The Dow finished off about 670 points, or about 2.6%, to lose its grip at 26,000 as the broader stock market cascaded lower in the first significant sell off in recent memory. The point decline for the Dow marked its worst since December of 2008, when it tumbled 680 points. However, the percentage decline was only the worst drop since Aug. 24, when the gauge fell 3.6%. More broadly, the S&P 500 index fell 2.1% at 2,761, while the Nasdaq Composite index finished down 2% at 7,240. The move lower for the broader market capped a brutal week, relatively speaking, as investors wrestled with rising bond yields and fears that the Federal Reserve may be forced to lift interest-rates faster than the three or four rate hikes the market is expecting in 2018 due to a strong economy and job market, underlined by a better-than-expected jobs report on Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of Apple Inc. tumbled 4.4% to $160.37, the lowest close in over three months, and enough to kick off the first official correction in 15 months. The stock has now lost 10.5% since it closed at a record $179.26 on Jan. 18. Many on Wall Street define a “pullback” as a decline of up to 10% from a significant peak, a decline of 10% to up to 20% as a “correction” and a selloff of 20% or more as a “bear market.” The last time Apple suffered a correction was when it fell 10.6% from the Oct. 25, 2016, close of $118.25 to Nov. 14, 2016, closing low of $105.71. Friday’s selloff follows first-fiscal-quarter results released after Thursday’s close. In addition, Apple closed just 0.6% above its 200-day moving average, which many view as a dividing line between longer-term uptrends and downtrends. The 200-day moving average currently comes in at $159.47, according the FactSet. That’s the closest it’s closed to its 200-day moving average since it last closed below it on July 27, 2016.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Industrial Average is tumbling over 530 points on Friday, and has lost nearly 1,000 points this week, but it is still more than 630 points above its widely-watched 50-day moving average. Seen by many chart watchers as a dividing line between short-term uptrends and downtrends, currently comes in at about 25,018, according to FactSet. The last time the Dow was below its 50-day MA on an intraday basis was Sept. 8, 2017, and the last close below the 50-day MA was May 18, 2017. The S&P 500 tumbled 1.8% Friday, and has shed 3.5% this week, but at 2,772, it was still well above its 50-day MA at about 2,715. The Nasdaq Composite was down 3.0% this week at 7,277, but still above its 50-day MA at 7,069. Meanwhile, the Dow’s 200-day MA, which is used by many as a long-term trend tracker, was down at 22,703.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

With the Dow Jones Industrial Average plunging 535 points, all 30 of the components are trading lower, led by the 6.1% tumbled in Exxon Mobil Corp.’s stock. Of the components, 22 are down more than 1%, 13 are down more than 2%, 6 are down over 3%, and 2 are down over 4%, including Chevron Corp. , which is shedding 4.9%. The biggest price decliner is Goldman Sachs Group Inc.’s stock , which dropped $9.53, or 3.5%. The best performer is Walmart Inc. shares , which is up 0.4%. On thing to put the selloff in perspective, the Dow’s point decline is greater than Black Monday, when it plunged 507.99 points on Oct. 19, 1987. But at that time, the percentage plunge was 22.61%, while the current percentage selloff of 2.04%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Oil prices finished lower on Friday to tally a loss of roughly 1% for the week. Recent data raised concerns that a likely rise in monthly U.S. production to its highest level on record will offset the Organization of the Petroleum Exporting Countries’ efforts to ease global supplies. March West Texas Intermediate crude fell 35 cents, or 0.5%, to settle at $65.45 a barrel on the New York Mercantile Exchange.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News