A stock drop may provide an' entry point' for investors, Dwyer says. Canaccord Genuity strategist Tony Dwyer has been bullish on the U.S. stocks in recent years, predicting after rising more than 23% in 2019, the S&P 500 will reach 3,350 by the end of 2020, a more than 8.3% increase from Tuesday's close. But Dwyer has also made intermittent calls for pullbacks, including an accurate call on April 30 for a minor retrenchment in the S&P 500 index to precede a resumption of its upward...
Wealthy investors hold 25% of their portfolios in cash, far higher than the roughly 5% that UBS recommends on average. Even as the market ascends to new heights, wealthy investors are bracing for a turbulent period that could produce a "significant drop" in equity benchmarks in the near term. That is according to a recent survey produced by UBS Wealth Management that finds that some 55% of deep-pocketed investors are preparing for a drop in the market before the end of the 2020. That...
Natural-gas producer may be' too big to fail,' according to one analyst. Chesapeake Energy Corp. (CHK) shares took another dive Tuesday, pushing them well below $1 to hit their lowest price in more than 25 years as the natural-gas producer's going-concern warning continued to reverberate in the equity markets and beyond. Chesapeake Energy (CHK) stock lost 17% to end at 67 cents, its lowest close since May 9, 1994. It traded as low as 64 cents, the lowest intraday level since February 1999. The...
The Dow Jones Industrial Average crossed 28000 for the first time Friday, notching a new record as fading recession fears extended the decadelong bull-market rally. A furious rise in the final minutes of the trading session thrust the Dow above its latest milestone, re-energizing a stock market that appeared listless in recent days. Investors drove the Dow up 222.93 points, or 0.8%, to 28004.89-- its 11th record close of 2019-- as they cheered trade developments and a rosier economic...
By Chris Matthews, MarketWatch, Clive McKeef. Dow hits 28,000 for first time. U.S. stocks closed at fresh record highs on Friday on revived hopes for a U.S.- China trade deal despite mixed economic data.
* U.S., China getting close to trade deal-White House adviser. * Healthcare sector posts biggest one-day gain since Jan. * Applied Materials (AMAT) jumps on strong forecast. * S&P 500 mints sixth straight week of gains. * Indexes up: Dow 0.8%, S&P 0.77%, Nasdaq 0.73% By Lewis Krauskopf.
The Dow Jones Industrial Average surged above 28000 for the first time Friday, a furious rally in the final minutes of the trading session. The blue-chip index opened modestly higher and climbed throughout the session as investors cheered good news on trade talks and the economy. Friday's biggest gainers were UnitedHealth Group (UNH), Johnson& Johnson and Pfizer.
* U.S., China getting close to trade deal- White House official. * Stocks on Wall Street close at record highs, MSCI climbs. * Treasury, European government yields gain on trade hopes. * Risk assets gold, Japanese yen, Swiss franc decline. By Herbert Lash.
* U.S., China getting close to trade deal-White House adviser. * Applied Materials jumps on strong forecast. * S&P 500 on track for six weeks of gains. * Data shows U.S. retail sales rebound. * Indexes up: Dow 0.57%, S&P 0.59%, Nasdaq 0.66% By Lewis Krauskopf.
The strength of the U.S. consumer has been often cited as a pillar of the economy and one of the reasons the S&P 500 has recently scaled new heights, but consumer discretionary stocks have skipped the party for several months. The S&P consumer discretionary sector hit a record high on July 15.
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