Dow Jones Industrial Average Suffers Worst Week Since September

Dow Jones Industrial Average Tops 21,000 for First Time

It was a whipsaw trading session, with the Dow Jones Industrial Average (DJIA) exploring a 188-point range on both sides of breakeven. While the Dow appeared set for a triple-digit loss, reports that President Donald Trump asked House Speaker Paul Ryan to pull the vote on the healthcare bill to replace Obamacare shortly before the close had stocks coming off session lows. Nevertheless, the Dow dropped for a seventh consecutive session, capping its worst week since before the U.S. presidential election . The S&P 500 Index ( SPX ) and Nasdaq Composite (COMP) likewise suffered their sharpest weekly losses since November and December, respectively. Amid the sell-off in stocks, the CBOE Volatility Index ( VIX ) had its best week of the year -- snapping its relatively rare streak of weeks without a move of 10% or more.

Continue reading for more on today"s market, including:

• 2 oil stocks that could storm higher in April, if past is prologue.
• Analyst: The "bottom has formed" on Under Armour stock .
• How we helped CME Group options traders score a 200% profit.
• Plus, explaining the VIX options hype; 4 Dow stocks to buy; and a red-hot healthcare stock.

The Dow Jones Industrial Average (DJIA - 20,596.72) fell 59.9 points, or 0.3%, bringing its weekly loss to 1.5% -- the worst since September. Just nine blue-chip stocks advanced, with Nike leading the pack on a 1.8% surge. Goldman Sachs stock was the worst of the 21 losing blue chips, down 1.5%.

The S&P 500 Index (SPX - 2,343.98) dipped 2 points, or nearly 0.1%, bringing its weekly deficit to 1.4%. However, the Nasdaq Composite (COMP - 5,828.74) battled back late for a win of 11.1 points, or 0.2%, but still dropped 1.2% on the week.

The CBOE Volatility Index(VIX - 12.96) slid 0.2 point, or 1.2%, but broke out for a 14.9% weekly gain -- and its highest weekly close since Dec. 30.

5 Items on Our Radar Today

AMC Networks plans to launch a commercial-free internet streaming service, according to sources. The plan will be open to customers who already have a cable TV package, and could cost an additional $4.99-$6.99 per month. (Fortune)

Pipeline owner True Companies said a December oil spill in North Dakota was three times larger than estimated. A spokesperson for the firm said roughly 80% of cleanup has been completed. (Reuters)

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Data courtesy of Trade-Alert

Commodities

Oil snapped a four-session losing streak today, but was still down 1.7% for the week, as the Organization of the Petroleum Exporting Countries (OPEC) and its fellow producers gather this weekend to discuss the impact of their output cuts. May-dated crude futures added 27 cents, or 0.6%, at $47.97 per barrel.

Gold advanced amid ongoing weakness in the dollar and stocks, capitalizing on "safe haven" appeal. Specifically, April-dated gold tacked on $1.30, or 0.1%, to close at $1,248.50 per ounce. Relative to last Friday"s settlement, gold was up 1.5%.

Get your daily dose of Dow futures, stock news, and more with Schaeffer"s Opening View .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: http://www.nasdaq.com/article/dow-jones-industrial-average-suffers-worst-week-since-september-cm765493

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Dow Jones Industrial Average crosses 21000 for first time

Dow Jones Industrial Average Tops 21.000 for First Time

The Dow Jones Industrial Average surged above 21,000 for the first time, as investors embraced optimism from President Donald Trump and Federal Reserve officials.

The blue-chip index was up about 230 points shortly after the opening bell, rising 1.1percent to 21,041. The S&P 500 rose 1percent and the Nasdaq Composite added 0.9percent, following gains in Asia and Europe.

Stocks have been soaring since Election Day, with the Dow industrials surpassing 19,000, 20,000 and now 21,000.

If the level holds through the closing bell, it will tie the fastest thousand-point jump in history: It took 24 sessions from the first close above 10,000 for the index to climb to 11,000 in 1999.

The latest milestone came after Mr. Trump struck an optimistic tone in a speech to Congress on Tuesday evening, although he offered few new details for his agenda. Investors were also focused on the likelihood of the Fed raising interest rates in March, following comments from a number of officials suggesting another quarter-point rate increase could come at the central banks next meeting.

Fed-fund futures, used by investors to place bets on central bank policy, showed a roughly 66 percent chance of a rate rise in March, up from 35percent Tuesday, according to CME Group.

U.S. government bonds weakened and the dollar jumped. The WSJ Dollar Index, which tracks the U.S. currency against 16 others, was recently up 0.5percent. The yield on the benchmark 10-year Treasury note rose to 2.449percent, according to Tradeweb, from 2.358percent Tuesday. Yields rise as prices fall.

We didnt get a lot of new things out of President Trump, said Mark Haefele, chief investment officer at UBS Wealth Management. The market took its cues from the Federal Reserve. They view the economy as strong and are looking to hike rates this year.

New York Fed President William Dudley, a close ally of Fed Chairwoman Janet Yellen, on Tuesday said the case for raising rates has become a lot more compelling in light of the economys current and expected performance. San Francisco Fed President John Williams also said in a speech Tuesday that a rate increase at the central banks meeting in March was very much on the table for serious consideration.

Bank stocks surged. Financial shares in the S&P 500 rose 2.4percent, leading gains. Bank of America rose 3.4percent and Morgan Stanley added 2.9percent.

Higher interest rates tend to boost the profitability of banks lending activities.

The prospect of higher U.S. rates rippled across to Europe, pulling local government bond yields higher across the board.

The bond market doesnt look great over the next 12 to 18 months. It looks like the Fed is committed to a path of normalization, said Bob Michele, head of the global fixed income, currencies and commodities group at J.P. Morgan Asset Management. We see growth and inflationary pressures picking up globally.

In Asia, a weakening yen helped Japans Nikkei Stock Average close up 1.4percent. The dollar was recently up 0.9percent at 113.812, helping to lift japanese companies that sells goods abroad.

source: http://www.denverpost.com/2017/03/01/dow-jones-industrial-average-crosses-21000/

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Dow Jones makes history, what that means for you

Dow Jones vs. S&P 500: What’s the difference?

RADFORD, Va. (WDBJ7) It"s been a historic week on Wall Street. The Dow Jones is above 20,000 for the first time.

Investors are calling this a "Trump rally" after the new administration started forming its agenda. Some say it"s the anticipation of the new president"s promises to encourage more business friendly policies.

It"s part politics and part economic trends that helped the dow jones industrial average reach new heights.

"Certainly the business community did think that regulations had grown quite a bit over the last eight years or so," said Steven Beach, Radford University"s associate dean of the College of Business and Economics.

He says fewer regulations on businesses is more positive for the economy.

Change in the administration is being mirrored in the stocks. Just this week President Trump signed executive orders to revise trade agreements - at the same time the Dow rose higher.

"Financials are going to do well generally in an environment where we expect it to be a pro-business, pro-economy administration. Furthermore when we look at it that way we can expect there to be inflation also and that is what"s driving a lot of this," Beach said.

This has impacts on us all, even people not invested in the market place. First, Beach says, it can generate tax revenues that help fund state and federal services. Also, the stock market usually predicts upcoming trends in the economy.

"And if that"s truly the case and it"s correct, then this is a sign that we should expect the economy to be growing," Beach said.

Wall Street is expecting the stock prices to climb higher if investors stay optimistic about the future.

Source: http://www.wdbj7.com/content/news/Dow-Jones-makes-history-what-that-means-for-you-412012955.html

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Dow Jones Industrial Average Closes Above 20K for 1st Time

The Cow Guy on the Dow Jones hitting 20,000

The Dow Jones industrial average hit a major milestone today, closing above 20,000 points for the first time.

Investors pushed stocks higher after strong earnings reports and the market continued to be buoyed by President Donald Trump"s vow to cut regulations for businesses and slash corporate tax rates.

The Dow gained 155.8 points to close out the trading session at 20,068.51. The S&P 500 and the Nasdaq composite joined the Dow in closing at all-time highs.

The benchmark index has staged a remarkable comeback since losing almost half its value after the financial crisis in 2008.

the dow has been flirting with the 20,000 mark for weeks and has continued to rally since Trump"s election in November.

After erupting in cheers at the crossing of the 20,000-point threshold during the market"s opening bell, some traders at the New York Stock Exchange also donned "Dow 20,000" hats to mark the occasion.

Source: http://abcnews.go.com/Business/dow-jones-industrial-average-opens-20k-time/story?id%3D45034995

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Dow Jones hits 20000 following opening bell

Dow Jones soars to 20k

The Dow Jones hit 20,000 moments after this mornings opening bell.

Global shares rose strongly Wednesday, building on Wall Streets overnight rally and hopes that the dow jones index will finally break through the 20,000 mark for the first time ever today.

KEEPING SCORE: In Europe, Germanys DAX was up 1.3 percent to 11,746 while the CAC-40 in France rose 1 percent to 4,879. The FTSE 100 index of leading British shares was 0.4 percent higher at 7,175. Wall Street was set for a solid opening too with Dow futures and the broader S&P 500 futures both up 0.3 percent.

WALL STREET DRIVER: U.S. stocks continue to be the main driver across the world. They have enjoyed a strong rally recently amid hopes that the Trump administration will cut taxes, stimulate the economy and reduce red tape. However, the Dow has found resistance as it tries to break through the 20,000 mark for the first time ever. On Tuesday, it closed 0.6 percent higher at 19,912.71.

ANALYST TAKE: Wall Street looks like it has potential to try for the magic 20,000 record high that has eluded it for so long, said Mike van Dulken, head of research at Accendo Markets.

JAPAN SURPLUS: Japan posted a trade surplus in 2016, its first in six years, as lower oil prices pulled imports lower, the government reported Wednesday. A jump in exports to China and other Asian countries late in the year also helped turn the balance to black. The 4.1 trillion yen ($35.8 billion) surplus compared with a 2.8 trillion yen deficit in 2015. Exports fell 7.4 percent from a year earlier to 70.04 trillion yen ($617 billion) while imports dropped 16 percent to 66 trillion yen ($581 billion).

ASIAS DAY: Tokyos Nikkei 225 surged 1.4 percent to 19,057.50 while Hong Kongs Hang Seng rose 0.4 percent to 23,049.12. Sydneys S&P ASX 200 gained 0.4 percent to 5,671.50 and the Shanghai Composite index added 0.2 percent to 3,149.55. South Koreas Kospi gained 0.1 percent to 2,066.94. The Sensex in India added 1.3 percent to 27,720.31. Benchmarks in Southeast Asia were mostly higher.

ENERGY: Benchmark U.S. crude dipped 48 cents to $52.70 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, used to price international oils, fell 51 cents to $54.93 in London.

CURRENCY: In currency markets, the euro was up 0.2 percent to $1.0750 while the dollar fell 0.2 percent to 113.55 yen.

The Associated Press contributed to this story.

Source: http://www.daytondailynews.com/business/dow-jones-hits-000-following-opening-bell/0gJ5i9gAK4yPu6vjmK4xDP/

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Dow Jones average crosses 20000 for first time in history

Dow Jones supera os 20 mil pontos!
NEW YORK

dow jones industrial average eclipses 20,000 for the first time on Wednesday, as cheers rang out from the floor of the New York Stock Exchange.

After weeks of close calls, the Dow made history on Wednesday by crossing over that key level for the first time ever.

The historic milestone leaves the Dow up a stunning 1,667 points since President Donald Trump"s victory in November.

The achievement is evidence of how optimistic investors have become about the prospects for the U.S. economy.

"The stock market has given him this extraordinary vote of approval. Happy days are here again," said Ed Yardeni, president of Yardeni Research.

Wall Street is clearly betting that Trump"s plans to slash taxes, ramp up infrastructure spending and cut regulation will make the American economy grow faster. If that happens, without any disruptions to global trade,it could propel corporate profits, the lifeblood of stock prices.

But the jump in stocks is also a reflection of the solid economy Trump inherited from former President Obama. The U.S. has added jobs for a record 75 straight months and the unemployment rate is sitting near a 10-year low.

The Dow 20,000 milestone also shows how much has changed in the U.S. economy over the past eight years. The index crashed to a low of 6,440 in March 2009 as Wall Street feared a complete collapse of the American financial system.

The astounding 13,500-point rise since then has been fueled by a consistent, albeit imperfect, economic recovery combined with the U.S. central bank"s massive stimulus program and near-0% interest rates.

While the economic rebound from the Great Recession has been slower than many hoped, the unemployment rate is now at the lowest level since 2007 and corporate profits have climbed to record highs.

"The economy has come a long way in eight years. Overall,it"s a healthier economy and does justify a much higher stock market than eight years ago," said David Kelly, chief global strategist at JP Morgan Funds.

Few expected the Dow to rise so much, especially after a Trump victory. In fact, many feared a market crash if Trump upset Hillary Clinton.

Instead, Wall Street embarked on a very impressive post-election rally that carried the Dow above both the 19,000 and 20,000 levels.

But the Trump rally cooled off in recent months and Wall Street hit a bit of a psychological roadblock leading up to the 20,000 level. On January 6, the Dow got incredibly close, rising to 19,999.63 before backing off. Traders on Wall Street had fun with it, with some creating hats that said:Dow Almost 20,000.

One reason for the pause: investors want more details on the timing and effectiveness of the stimulus plans rolled out by the new administration.

"We"ve scaled this peak. We"re going to enjoy this view for awhile and hit the pause button," said Joe Quinlan, chief market strategist at U.S. Trust.

Bank stocks have been among the biggest winners during the post-election party on Wall Street. JP Morgan Chase and Morgan Stanley have soared more than 20%, while Goldman Sachs is up nearly 30%, as investors bet on higher interest rates and less regulation under Trump.

But JP Morgan"s Kelly worries that "markets seem to be pricing in the positives, and not worrying too much about the negatives" such as a potential trade war or fiscal stimulus that overheats the economy.

Quinlan agrees that trade remains a serious risk given Trump"s anti-trade rhetoric during the campaign. Already, Trump has scrapped the TPP trade deal and plans to swiftly start renegotiating NAFTA.

"We need open borders, open trade and open flow of capital. If we start going down this deglobalization road, this market is going to lose its euphoric underpins pretty quickly," Quinlan said.

Yardeni said the verdict is still out on whether the enthusiasm onWall Street is overdone.

"Is the market irrationally exuberant or will Trump prevail in a way that"s bullish for the economy," he said. "The bottom line on Trump is: love him or hate him, you don"t want to bet against him."

Source: http://www.wmtw.com/article/dow-jones-industrial-average-eclipses-20-000-for-the-first-time-cheers-from-the-floor-of-the-new-york-stock-exchange/8637969

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Dow Jones Industrial Average In Free Fall After Brexit Vote Rocks Global Financial Markets

Dow Jones Serious 2016 Correction and the coming Crash !

This story was updated at 12:55a.m. EDT.

U.S. stocks tumbled sharply Friday after Britains vote to quit the European Union delivered the biggest blow to the global financial system since the 2008 financial crisis.

The Dow Jones Industrial Average was down 537 points, or 3 percent, in afternoon trading, sinking to the lows of the session. Other major stock indexes also plunged, including the broader Standard & Poors 500 stock index, which slumped 67 points, or 3 percent. The Nasdaq composite, which includes many tech names, tumbled a hefty 184 points, or 4 percent.

The S&P 500 index and the Dow posted their biggest intraday losses in more than five months and the Nasdaq staged its biggest intraday drop in more than four months before clawing back some ground in late morning trading.All three indexes were headed for their second weekly decline in a row.

"Markets clearly got it wrong and were obviously, to use the British term, "gobsmacked" by the result," said Aaron Clark, portfolio manager at GW&K Investment Management in Boston. "Investors are shooting first and will ask questions later."

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Investors worried about the outlook for the world economy sought refuge in the dollar and other safe-harbor assets such as gold and U.S. Treasury bondswhile dumping riskier shares. The yield on the U.S. 10-year bond hit its lowest since 2012.

Britain"s FTSE 100 stock index was down 3 percent. Asian stocks also tumbled.

Amid the turmoil, sterling hit a 31-year low in its biggest intraday percentage fall on record and Prime Minister David Cameron said he would step down by October.

It"s going to be a scary day,said Brad McMillan, chief investment officer at Commonwealth Financial in Waltham, Massachusetts.

The market was already expected to be volatile as traders adjusted portfolios to account for an annual reconstitution of the widely followed Russell stock indexes.

Were getting close to the end of the month so people are looking to rebalance their accounts anyway,McMillan said.

Banks were among the biggest losers.Citigroup was down 8 percent and Morgan Stanley 9 percent, while Bank of America, JPMorgan and Goldman Sachs slumped by between 5 and 6 percent.U.S. banks have big London operations.

Trading in S&P 500 and Nasdaq futures was halted briefly overnight after they fell more than 5 percent, triggering limit thresholds.

U.S. short-term interest rate futures rose amid speculation the Federal Reserve could cut interest rates to help shield the economy from any global fallout.

In a statement Friday, the Fed sought to calm global financial markets by saying it was ready to provide dollar liquidity following Britains vote to exit the European Union.

Investors have been waiting for the Fed to raise borrowing costs as the economy improves.

Fed Chair Janet Yellen said earlier in the week an exit of Britain from the EU would have significant repercussionson the U.S. economic outlook.

Futures on the VIX volatility index known as Wall Street"s fear gauge surged 33.7 percent to 23.07, above its long-term average of 20.

Oil prices, which are sensitive to changes in the economic outlook, dropped more than 4 percent, the biggest fall since early February. Exxon and Chevron were down about 2.5 percent.

Shares of gold miners surged Friday. Barrick was up 4 percent, and Newmont Mining was up just over 3 percent.

Apple, which got more than a fifth of its revenue from Europe last quarter, was down 2 percent, while Facebook was also down 2 percent.

U.S. stocks had risen in recent sessions as investors bet Britain would remain part of the EU.

As of Thursdays close, the S&P 500 index had risen 3 percent since the start of the year.

Reuters contributed to this report.

Source: http://www.ibtimes.com/dow-jones-industrial-average-free-fall-after-brexit-vote-rocks-global-financial-2386294

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Dow Jones Industrial Average Rebounds After December Jobs Report Shows Robust ...

Economic Woes - Dow Jones Closes Out Worst Year Since 2008 - Stuart Varney - Fox & Friends

This story was updated at 11:55 a.m. EST.

U.S. stocks were down slightly mid-session Friday, having given up an early rally that was driven bya better-than-expected jobs report.Chinese stocks recovered, and oil prices moved off multiyear lows.

Nonfarm payrolls surged by 292,000 in December, and the unemployment rate held steady at 5 percent. October and November payrolls were revised to show 50,000 more jobs created than previously reported, according to Friday"s report. The upbeat report suggests that a recent manufacturing-led slowdown in economic growth would be temporary.

The Dow Jones industrial average was lately down 29 points, or 0.2 percent, having mounted a triple-digit rally earlier in the session. Thebroader S&P 500 index was down 4points, or 0.2 percent. The tech-rich Nasdaq composite index was lately off 8 points, or 0.2 percent.

Fridays early rally cappeda week of volatility in the markets, roiled by the fallout from Chinas attempts to manage its massive economy and currency devaluations. The Dow is now some 10 percent below last years record high.

Before Friday, the Dow had lost 5.2 percent since the end of 2015 in the worst first four trading days since the 30-stock index"s creation several decades ago.

Oil prices rose modestly Friday, boosted by the recovery in Chinese shares, but remained within reach of 11-1/2-yearlows.

Calm returnedto overseas markets overnight. Chinese stocks rebounded, helping to calm bourses across Asia, while European markets were broadly higher Friday, providing hope that the panic-fueled week may yet end on a positive note.

Intense volatility in the global markets this week is estimated to have wiped out over $2 trillion of shareholders" value across the globe.

In company news:

Shares of Qorvo were down 4.2 percent at $43.70, a day after the Apple supplier cut its revenue estimate for the third quarter.

Gap was down 11.6 percent to $23.64 after the apparel retailer reported a larger-than-expected drop in December same-store sales.

Container Store slumped 39.8 percent to $4.32, a day after storage products retailer"s fourth-quarter profit forecast missed estimates.

Reuters contributed to this report.

Source: http://www.ibtimes.com/dow-jones-industrial-average-rebounds-after-december-jobs-report-shows-robust-growth-2256693

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