|Day's range||7,903.07 - 7,974.28|
|52-week range||6,190.17 - 8,176.08|
The Federal Reserve’s widely-expected interest rate cut next month is an exercise in “risk management” — but a new easing cycle is not entirely assured, UBS said on Wednesday.
After spending most of the day in the black, U.S. stocks slid late in Wednesday’s session. Ahead of the G-20 meeting, hopes are up that the U.S. and China have a path to achieve a trade deal.
Western Digital stock has gotten some potentially good news from its competitor Micron’s latest earnings report, according to Craig-Hallum.
Nvidia shares (ticker: NVDA) are up about 19% this year, roughly matching the Nasdaq Composite, which has risen nearly 20%. Last month, Nvidia cited low visibility in the data center market as it withdrew the full-year guidance it had given just a few months earlier. On Wednesday, Bernstein analyst Stacy Rasgon reaffirmed his Market Perform rating for Nvidia stock, citing the risk to earnings estimates for the chip maker.
The Dow Jones Industrial Average wasn’t doing much just before noon, but individual stocks were on the move. ConocoPhillips gained on an upgrade, while Boeing got a boost from a report that its 737 Max could fly again by the end of the summer.
Micron Technology stock will rise because its customers have worked down their chip inventory levels, according to Needham analyst Rajvindra Gill.
All eyes are on the Donald Trump-Xi Jinping meeting this weekend at the G-20 summit. One Fed Governor doesn’t see a big rate cut next month.
Asian shares were mostly lower Wednesday as investors awaited developments on the trade friction between the U.S. and China at the Group of 20 meeting of major economies in Japan later in the week. Japan's benchmark Nikkei 225 slipped 0.5% to 21,088.32 in early trading, while Australia's S&P/ASX 200 inched down nearly 0.1% to 6,652.20.
St. Louis Federal Reserve President Governor James Bullard said that a half percentage-point cut was unlikely in July, causing markets to slide to their lows of the day.
Wall Street lost ground on Tuesday as simmering geopolitical and trade concerns, combined with disappointing economic data, kept buyers at bay and investors looked to remarks from U.S. Federal Reserve chair Jerome Powell expected later in the session. Technology companies led all three major U.S. stock indexes into the red ahead Powell's speech and the question-and-answer session to follow, which will be scrutinized by market participants for clues as to when and by how much the central bank will cut key interest rates. "It's not an all-red day but it's pretty much a risk-off day with money moving into defensive names," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.
Tensions between the U.S. and Japan are heating up, the Fed chair is speaking, but investors are waiting to see if U.S. President Donald Trump and Chinese President Xi Jinping can reach a trade deal at the G-20 meeting later this week.
The S&P 500 edged lower on Monday as losses by healthcare companies overshadowed gains in the technology sector, while investors awaited U.S. President Donald Trump's meeting with Chinese President Xi Jinping at the G20 summit this week. The Nasdaq slipped but tariff-sensitive industrials, headed up by Boeing Co, led the blue-chip Dow Jones Industrial Average to a nominal advance. While the bellwether S&P 500 ended the session in the red, it remained within a hair's breadth of its all-time closing high reached last Thursday as markets reacted to a dovish statement from the U.S. Federal Reserve.
U.S. stocks were mixed as investors digested a spate of concerns abroad and awaited signals of progress in U.S.-China trade talks.
The company is a leading maker of firewalls and network security appliances. Fortinet stock (ticker: FTNT) shares are up about 9% this year, underperforming the Nasdaq Composite, which has risen roughly 21%. JPMorgan analyst Sterling Auty on Monday raised his rating on Fortinet to Overweight from Neutral, saying the valuation now seems attractive.
Dallas Fed President Robert Kaplan says the Fed should continue to wait before making rate cuts, saying that cutting rates could build up leverage in the financial system.
(MU) may lose money later this year because of falling memory chip prices, according to Citi Research. The chip maker will report its fiscal third-quarter earnings results on Tuesday. Micron stock (ticker: MU) has fallen nearly 20% over the past 3 months as hopes for a recovery in chip prices have faltered.
Susquehanna Financial Group lowered its price target on Nvidia shares citing increased competition over the coming year.
President Donald Trump renewed his attack on the Federal Reserve on Monday, declaring that the central bank “doesn’t know what it is doing."
Stocks were poised to open slightly higher ahead of the meeting between President Donald Trump and President Xi at the G-20 meeting in Japan later this week.
U.S. President Donald Trump and Chinese President Xi Jinping are set to meet at the G-20 gathering, and could walk away with a trade deal. Then again, maybe not.