U s stock futures cnbc
The stock Dow closed The Dow reached its session low in the final hour of trading. Both indexes were up earlier in the day. Facebook and Netflix rose 0. Amazon gained 1.
Dow drops more than 400 points as the coronavirus fuels deeper worries over the economy
Here's what's happening:. The Dow, at one point up more than points 3. The consumer staples and utilities sectors led the major indexes lower. Goldman Sachs provided the most upward pressure on the Dow but losses from Boeing and others more than offset the gainers.
Morgan Stanley CIO Mike Wilson said on "Closing Bell" that the performance of cyclical stocks in recent days is a sign that the market has bottomed and could rise further. The Dow Jones Industrial Average turned negative with about half an hour left in the session. With roughly one hour left in the session, the Dow Jones Industrial Average traded up about points a sharp slide from highs hit earlier in the session.
Goldman Sachs' chief equity strategist warned investors about getting too excited about the recent rally in stocks. While many investors are calling a bottom to the coronavirus bear market, Kostin recalled head-fake rallies during the financial crisis recovery as evidence the current uptick in equities may be short-lived.
Former Federal Reserve Chairman Ben Bernanke doesn't see any danger in the unprecedented efforts the central bank is making to try to pull the economy through the coronavirus crisis.
I don't think there's any real danger from that. The Fed in the past few weeks has broken out a slew of credit facilities aimed at keeping markets functioning properly and supporting the economy. Even with high levels of debt the government is running up, Bernanke said he doesn't see inflation as a threat, either. His tweet came with the Senate scheduled to vote on the funding on Thursday. Mnuchin said the move was at the direction of President Donald Trump, and he has spoken with congressional leaders.
More than five stocks traded higher at the New York Stock Exchange for every stock that traded lower as the market added to its sharp rally from the previous session. The Dow Jones Industrial Average traded up more than points, or 2. The stock index was on pace to post its highest closing level since March 13, when it ended at 23, Tuesday's gains were driven by a Oil demand has fallen off a cliff as much of the world stays home amid the coronavirus outbreak, which has forced companies to slow production as they grapple with lower crude prices.
This, in turn, will create an imbalance once things return to normal given the time required to bring production back online. Click here to read more midday movers on Tuesday. Details for the 3 p. Strategists at BNY Mellon Investment Management said that investors should not feel confident in market rallies until there is a clearer picture of the health situation. Alicia Levine, BNY's chief strategist, said the duration of the economic downturn makes a major difference because of the compounding effects, such as potential defaults for companies.
For example, a two-month slowdown versus a four-month one would have significant differences for the economy, Levine said. New York Gov. Andrew Cuomo said the number of coronavirus-related deaths in the state jumped by on Monday, its single-biggest daily increase. So, a lot of pain again today," he said at a press conference in Albany. New York is the U. CNBC Pro subscribers can read more here. February ended with there being about a million more jobs than available workers, according to Labor Department data released Tuesday.
March, however, will be a different story. The Job Openings and Labor Turnover Survey, watched closely by Federal Reserve officials for insights into the jobs market, showed nearly 6. That was , fewer openings from January, while the jobless total fell by , Of course, the entire labor dynamic changed in March with the onset of protective measures to prevent the coronavirus spread. The Labor Department on Friday reported that the total jobless level rose by 1.
The spread of the coronavirus and the tumble in oil prices led to a dismal performance by equity funds. On average, those funds posted a decline of That's the worst average performance since the fourth quarter of However, the broader stock market showed some signs of bottoming in late March, surging from a low reached March Stocks cut gains about 40 minutes into the session with the Dow paring an initial point rally to a climb of about points. Reasons for the equity deceleration weren't obvious, but the Dow's two-day gain was still well over 2, points.
The stock average jumped 2, points in just two trading sessions. For the tech-heavy Nasdaq Composite, the benchmark jumped 9. Coronavirus cases in the U. That could lead the economy to open sooner than others think, J.
Morgan's Marko Kolanovic wrote. The quantitative strategist is looking at smart thermometer data to get ahead of other forecasters, which he said is preceding the official data coming out of hospitals by one to two weeks. Kolanovic projects about 70, coronavirus related deaths in the U. Regarding the recovery in stocks, Kolanovic is overweight equities and underweight government bonds. The Dow Jones Industrial Average rose more than points, or 3.
The blue-chip index was led higher in early trading by UnitedHealth and Home Depot. Exxon Mobil is slashing its capital spending plan as depressed oil prices hammer the energy sector, but CEO Darren Woods said that the company's dividend is safe for the time being.
The largest portion of the reduction will be in the Permian Basin, where it's easier to adjust short-cycle investments, Woods said. Companies that will start reporting earnings soon should do their best to explain to investors how they're being impacted by the coronavirus and what their future plans are, Securities and Exchange Commission Chairman Jay Clayton told CNBC. Given the virus disruption, this reporting season likely will be noisy, but Clayton encouraged companies to do their best.
Shares of Carnival and other cruise companies have plunged in recent weeks as the spread of the coronavirus keeps ships at port, representing what some investors consider a compelling buying opportunity.
The prospect of even more fiscal stimulus may be adding to the positive sentiment on Wall Street. President Donald Trump said Monday that a second round of direct payments to Americans was under consideration as the government tries to cushion the coronavirus' economic blow.
Major airline stocks rose sharply before the bell on Tuesday. American Airlines soared In recent days, U. A spokesperson for the world leader said he was "stable" and in "good spirits" but remained in intensive care after his coronavirus symptoms worsened Monday afternoon. The spokesperson added that Johnson had received oxygen treatment but that the prime minister was breathing on his own without the help of medical devices.
Futures contracts tied to the major U. Tuesday's anticipated rally comes after a host of positive coronavirus headlines. South Korea reported Tuesday less than 50 new cases of infection for the second day running while China reported no new deaths as of April 6 for the first time since January when it started publishing daily updates.
Those strong gains will add to Monday's sharp rally on the holiday-shortened week. The Dow soared 1, points in the prior session, posting its third-biggest point gain ever. Sign up for free newsletters and get more CNBC delivered to your inbox.
Get this delivered to your inbox, and more info about our products and services. All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. VIDEO Dow closed negative swinging almost points from high to low Dow is down Norwegian Cruise Line and Royal Caribbean gained UBS upgraded Constellation Brands to buy from neutral. Wells Fargo upgraded Marriott to overweight from equal weight. Wells Fargo initiated Take-Two Interactive as overweight.
Wells Fargo initiated Activision Blizzard as overweight. Raymond James downgraded Shopify to market perform from outperform. Bank of America upgraded Wayfair to buy from neutral. Rosenblatt downgraded Twilio to neutral from buy. Deutsche Bank downgraded General Motors to hold from buy.
Loop upgraded Lowe's to buy from hold. Related Tags. News Tips Got a confidential news tip? We want to hear from you. Get In Touch. CNBC Newsletters. Market Data Terms of Use and Disclaimers.
The latest commodity trading prices for Index Futures: Dow, S&P, Nasdaq and more on the U.S. commodities & futures market. *U.S. CRUDE OIL FUTURES FALL 7% TO $ PER BARREL. Mon, Mar 16th Wires · US STOCKS-Futures pounded as Fed's aggressive rate cut fans.
The biggest technology stocks halted their recent strong rally and turned sharply lower on Tuesday, putting pressure on the broader market. Stocks traded higher at certain points throughout the day on hopes that the economy will soon reopen, but ultimately the gains didn't hold and stocks finished the day lower. Earnings letdowns and guidance withdrawals amid the pandemic were among the factors hurting investor sentiment. After spending parts of the day in positive territory stocks couldn't hold onto gains and ended the session in the red.
Stocks rose on Friday as oil prices clawed back even more of their historic losses from earlier in the week while investors weighed the prospects of a potential coronavirus treatment from Gilead Sciences. The Dow Jones Industrial Average closed
Stocks bounced from a two-day sell-off as oil prices recovered some of their deep losses. Investors also digested the latest earnings report to gauge the health of corporate America in the age of coronavirus crisis.
Dow jumps more than 200 points as oil extends rebound, but posts first weekly loss in three
Stocks fell sharply on Wednesday as dismal economic data and weak bank earnings fueled concerns over the coronavirus's impact on the U. The Dow Jones Industrial Average dropped Retail sales during the month of March plunged a record 8. That was the largest one-month decline since the department began tracking the series in Grocery stores, pharmacies and other retailers of essential goods saw a surge in demand last month amid the outbreak, the government said. Manufacturing in the New York area also slumped by its biggest margin ever to a historic low, surpassing the levels seen in the throes of the Great Recession.
What to watch today: Stock futures under pressure after S&P 500′s best week since 1974
We are getting ready for another crazy week for the markets with a special live blog of the Sunday night market news. Check back here for live updates. Dow futures briefly dropped more than points shortly after the open. The year Treasury yield fell to a fresh record low of 1. The benchmark rate, which moves inversely with prices, tumbled about 37 basis points in February alone. The 2-year yield dipped to 0. West Texas Intermediate futures briefly hit their lowest level since Dec. Jefferies' David Zervos with an interesting comment over the weekend in a note on the bazooka that central banks can wield at times like these: "Those who underestimate the power of monetary policy when it comes to combating negative economic shocks finds themselves regretting it.
Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services.
Here's what's happening:. The Dow, at one point up more than points 3. The consumer staples and utilities sectors led the major indexes lower.
US Markets
Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services. All Rights Reserved. Data also provided by. Skip Navigation. Markets Pre-Markets U. Pippa Stevens Thu, May 7th Oil ETF overseer addresses the risks of investing in crude-based funds. Lizzy Gurdus Wed, Apr 29th Here's exactly what fluctuating oil prices mean for your wallet. Darla Mercado Thu, Apr 23rd Patti Domm Tue, Apr 21st Up to 10 million barrels of oil supply could be lost over next two years, J.
Pre-market data
The stock market was closed for Good Friday. Depressed oil prices got an initial bounce Monday, before moving toward the flat line, a day after OPEC and its oil allies finalized a deal to cut production by 9. Even as increases in new daily cases continued to slow in America, the United States surpassed Italy on Saturday to become the nation with the most coronavirus deaths. Cumulative U. White House health advisor Dr. Anthony Fauci expressed "cautious optimism " Sunday about the slowing of the outbreak in the U. NY Times. Global coronavirus cases neared 1. Deaths worldwide reached , While the U.
