Tag: stock market

Oil prices settled lower on Tuesday, with the April futures contracts expiring at their lowest level since November. The contract expiration on the New York Mercantile Exchange contributed to volatility ahead of the latest weekly data on U.S. crude supplies. Analysts polled by S&P Global Platts forecast an increase of 2 million barrels in crude stockpiles. April West Texas Intermediate crude lost 88 cents, or 1.8%, to settle at $47.34 a barrel. May WTI crude , which is now the front-month contract, lost 67 cents, or 1.4%, to end at $48.24 a barrel.

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From:: Stock Market News

Regional bank stocks were pummeled Tuesday, as investors reset expectations of the benefits of rising interest rates and of any potential boost from President Donald Trump’s fiscal plan. The SPDR Regional Banking ETF (KRE) tumbled 5.2% toward the lowest close since Nov. 30, with all 99 of its components trading lower by at least 2%. Seven of the 10 biggest one-day percentage losers in the S&P 500 were KRE components. Among the biggest decliners on Tuesday, shares of California-based Pacific Premier Bancorp Inc. plunged 8.8%, of Arkansas’s Bank of the Ozarks Inc. shed 7.6% and of South Dakota’s Great Western Bancorp Inc. slumped 7.4%. The best performer was Massachusetts-based Bekrshire Hills Bancorp Inc.’s stock , which lost 2.0%. The KRE has now lost 4.8% year to date, while the S&P 500 has gained 5%.

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From:: Stock Market News

Gold futures tallied a fourth straight session climb on Tuesday, with dollar-denominated prices for the metal buoyed by a drop in the U.S. Dollar Index to its lowest level in about seven weeks. Euro-dollar gained after France’s first televised presidential debate left pro-euro candidate Emmanuel Macron on solid footing, according to polls, while the British pound gained ahead of the launch of the U.K.’s exit from the European Union. April gold rose $12.50, or 1%, to settle at $1,246.50 an ounce.

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From:: Stock Market News

Shares of Bank of America Corp. dropped $1.46, or 6%, to a 1 1/2-month low in active afternoon trade Tuesday, enough to make them the biggest percentage decliner within the S&P 500, amid a selloff in the financial sector and broader stock market as investors started resetting expectations for a boost from President Donald Trump’s policies. Volume spiked to 180.4 million shares, nearly double the full-day average of 92.4 million shares, and enough to make the stock the most actively traded on the NYSE. The stock was on track to suffer the biggest one-day percentage decline since June 27, 2016, and the biggest one-day price drop since Aug. 8, 2011. The stock was underperforming the SPDR Financial Select Sector ETF , which shed 2.7%, and the S&P 500 , which slumped 1.1%.

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From:: Stock Market News

Apple Inc.’s stock has turned lower in midday trade, following a sharp pullback in the broader stock market. Apple share had been up as much as 0.9% at an all-time intraday high of $142.80 soon after the open, but has trended lower since, to be down 0.3%. The earlier gains came in the wake of updates to the tech giant’s iPhone and iPad offerings. In comparison, the Dow Jones Industrial Average shed 154 points, or 0.7%, after being up 64 points earlier, while the Nasdaq Composite fell 1.1% after being up 0.4% earlier.

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From:: Stock Market News

The Dow and the S&P 500 index on Tuesday are on the verge of halting a monthslong streak without a 1% decline. The Dow Jones Industrial Average was off 176 points or 0.9% at 20,722, while the S&P 500 index was down 0.9% at 2,351. The two main stock-market gauges have gone a history-setting 109 trading days, since Oct. 11, without posting a 1% drop, but a sudden late-morning slide is threatening to push the indexes sharply lower. The S&P 500 needs to decline by about 23 points to register its 1% decline, while the Dow would require a fall of more than 200 points for a 1% tumble. The catalyst for Tuesday’s slump wasn’t clear but financial stocks were among the worst decliners with Goldman Sachs Group delivering the biggest blow to the blue-chip Dow gauge and financials weighing heavily on the S&P 500. The broad-market S&P 500’s streak without a 1% down day is the longest since May 18, 1995 and the longest since Sept. 20, 1993, for the Dow, according to Dow Jones data.

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From:: Stock Market News

The S&P 500 slumped 0.8% in morning trade, putting the large-cap benchmark index on track for its biggest one-day point and percentage decline so far this year, with 393 of 505 components losing ground. The index was also headed for a fourth-straight loss, matching the four-session losing streak ending Jan. 31. The S&P 500 has lost 30.57 points, or 1.28%, during its current streak, which would be the biggest four-day point and percentage loss since before the election, when it lost 40.97 points, or 1.93%, over the four sessions ending Nov. 4. Tuesday’s selloff is also in danger of snapping a 109-session streak without a 1% decline.

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

Apple Inc.’s stock continued its march to record highs, as it climbed 0.7% in morning trade after updating its iPad and iPhone offerings and introducing a new video app. The stock was the biggest gainer among Dow Jones Industrial Average components, with the price gain of 97 cents adding about 7 points to the Dow’s price, which was up 15 points. Apple’s stock has reached all-time intraday highs in four of the past five sessions, and has already closed at record highs three times this month and 10 times this year, bringing its market capitalization to $747.4 billion in morning trade. In comparison, the Dow has closed at one record high this month, on March 1, and 15 times this year. Apple shares have gained 23% year to date, while the Dow has climbed 5.9%.

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From:: Stock Market News

Shares of Facebook Inc. opened at $141.15 Tuesday morning, an all-time high for the stock. The stock had been upgraded to buy from neutral at BTIG this morning. Shares of Facebook have been on the upswing, gaining 6% in the past month, compared to the S&P 500’s gain of 1%. Apple Inc. , which announced updated iPhone and iPad offerings Tuesday, and Netflix Inc. also saw all-time highs at the opening Tuesday.

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From:: Stock Market News

The Nasdaq Composite opened in record territory, setting an intraday all-time high as U.S. stocks advanced on Tuesday. The S&P 500 rose 6 points, or 0.4%, to 2,397, trading above its previous closing high. All the main 11 sectors were higher. The Nasdaq Composite advanced 21 points, or 0.4% to 5,922. The Dow Jones Industrial Average gained 46 points or 0.3%, to 20,952.

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