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The Dow Jones Industrial Average on Friday was on track to shed about 950 points for the week, which would be its steepest weekly slide since January 2016, when it shed 1,079 points, according to FactSet data. The Dow was down 560 points, or about 2.1%, early Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline, 3.7%, would also be the worst for the blue-chip gauge since the 6.2% weekly decline also in early January of 2016. Rising yields can undercut appetite for assets perceived as risky, including stocks. The S&P 500 index , meanwhile, was down 1.8%, at 2,772, while the Nasdaq Composite Index is giving up 1.5% at 7,280.

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.

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From:: Stock Market News

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil climbed by 6 at 765 this week. The oil-rig count had climbed by 12 last week. However, the total active U.S. rig count, which includes oil and natural-gas rigs, fell by 1 to 946, according to Baker Hughes. March West Texas Intermediate crude was down 60 cents, or 0.9%, from Thursday, to $65.20 a barrel, down from $65.25 shortly before the rig data.

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.

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From:: Stock Market News

A measure of Wall Street volatility on Friday rose sharply, putting it on track for its largest weekly gain in more than 5 months as U.S. equity benchmarks tumbled and as the 10-year Treasury notes extended its 5-day climb above 2.8%–its highest level in more than four years. The CBOE Volatility Index was up at 15.22, up 12%, on track for a weekly rise of about 37%, which would represent its sharpest climb since Aug. 11, 2017, according to FactSet data. The VIX uses bullish and bearish option bets on the S&P 500 index to reflect expected volatility over the coming 30 days, and it typically rises as stocks fall. However, the gauge, sometimes referred to as the fear index, has been abnormally low, trading below its historical average at around 20. A weeklong rise in 10-year Treasury note yield above 2.84% on Friday after an upbeat jobs report stoked fears of rate hikes and rising inflation, helped propel yields higher. Rising rates can undercut appetite for stocks if government paper offer richer yields than risk assets like stocks. The Dow Jones Industrial Average was down 334 points, or 1.3%, eyeing its worst weekly decline in two years, the S&P 500 index slumped 0.9% at 2,796, while the Nasdaq Composite Index are off 0.8% at 7,329. The rise in the VIX implies that volatility in otherwise subdued markets its beginning to make a comeback.

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.

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From:: Stock Market News

The House Intelligence Committee has released a Republican memo that alleges the Federal Bureau of Investigation abused surveillance power during the Russia investigation. The release came shortly after President Donald Trump decided to allow its publication. Read the full text of the memo here.

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.

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From:: Stock Market News

The House Intelligence Committee has released a Republican memo that alleges the Federal Bureau of Investigation abused surveillance power during the Russia investigation. The release came shortly after President Donald Trump decided to allow its publication. Read the full text of the memo here.

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.

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From:: Stock Market News

Despite an ugly weekly decline for the Dow Jones Industrial Average, the blue-chip gauge has risen so far and so fast that it would require a roughly 900-point drop to push it below its 50-day moving average. The Dow presently sits at around 25,898, down about 278 points, or 1.1%, with a weekly decline of about 700 points or about 2.5%, representing its worst drop over such a period since Jan 8, 2016, according to FactSet data. However, the equity gauge would need to slump to 25,023.91, a decline of 886 points, of about 3.4%, from its current level. In order to slump under its longer-term, 200-day moving average it would need to plunge to 22,704, or a whopping 3,200 points, a drop of about 12%. Similarly, the S&P 500 index , which also is having a challenging week, after a stellar January, would require an 82.51 slump, or 3%, to hit its 50-day MA at 2,715, with it would need to tumble 265 points, or 9.5%, to reach its 200-day MA at 2,532. Market technicians look at short-term and long-term moving averages partly to gauge momentum in an asset.

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.

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From:: Stock Market News

Shares of Viavi Solutions Inc. soared 17% as William Blair analyst Dmitry Netis praised the company’s decision to acquire Cobham’s test and measurement business. “We view this transaction positively, given potential revenue and cost synergies and opportunity for EPS expansion,” he wrote. “We are particularly pleased with the added wireless test products (60%-70% of acquired assets’ revenue) and pan-European/Asia customer exposure ahead of 5G infrastructure buildouts.” Viavi also reported better than expected revenue and earnings for its December quarter on Thursday afternoon. Separately, Stifel analyst Patrick Newton upgraded Viavi shares to buy, citing “numerous levers to drive meaningful EPS growth.” He pointed to an inflection in the network enablement business and commented that the acquisition seemed like a “good use of cash.” Viavi shares are up 9.8% over the past 12 months, while the S&P 500 is up 23%.

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.

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From:: Stock Market News

Although stock market internals are showing broad-based selling, the Arms Indexes for both the NYSE and and Nasdaq suggest there is still no panic selling, and instead imply that buyers of rising stocks may be acting more aggressively than sellers of decliners. The Arms Index is a volume-weighted breadth measure, that is used by many to gauge the intensity of a broad market decline. The index tends to rise above 1.000 when the stock market declines, as the sellers of declining stocks tend to be more aggressive than buyers of advancing stocks. A rise to above 2.000 is viewed by many as a sign of panic selling. Although the Dow Jones Industrial Average is down 259 points, or 1%, and the S&P 500 is down 0.8%, the NYSE Arms Index has declined to 0.753. The number of declining stocks outnumbered advancers by a 2,497-to-374 margin on the NYSE, or about a 6.7-to-1 ratio, while declining volume leads advancing volume by 192.7 million shares to 37.7 million shares, or about a 5.1-to-1 ratio. The Nasdaq Composite was down 0.7%, but the Nasdaq Arms Index was down to 0.762.

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.

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From:: Stock Market News

The Dow Jones Industrial Average on Friday was set to shed about 740 points for the week, marking its worst weekly slide since Jan. 8, 2016, when it shed 1,078 points, according to FactSet data. The Dow was down 312 points, or 1.1%, on Friday as Treasury yields gathered steam following an upbeat jobs report. On a percentage basis, the weekly decline would also be the worst for the blue-chip gauge since the 6.2% weekly decline also since early January of 2016. Rising yields can undercut appetite for assets perceived as risky like stocks. The S&P 500 index , meanwhile, was down 1.1%, at 2,792, while the Nasdaq Composite Index gave up 1.1% at 7,301.

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.

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From:: Stock Market News