Latest news with #MaterialsSelectSectorSPDR
Globe and Mail
16-07-2025
- Business
- Globe and Mail
Stock Market News for Jul 16, 2025
U.S. stocks ended mixed on Tuesday, with the Nasdaq posting a new record high, while the Dow and S&P 500 slid after data showed inflation rose in June, and a mixed bag of bank earnings dented investors' sentiment. How Did The Benchmarks Perform? The Dow Jones Industrial Average (DJI) slid 1% or 436.36 points, to end at 44,023.29 points. The S&P 500 lost 0.4%, or 24.80 points, to close at 6,243.76 points. Tech stocks were the only gainers on Tuesday, while Materials, financial and real estate stocks were the worst performers. The Financials Select Sector SPDR (XLF) lost 1.7%, while the Materials Select Sector SPDR (XLB) fell 2.1%. The Real Estate Select Sector SPDR (XLRE) lost 1.3%. The Consumer Discretionary Select Sector SPDR (XLY) declined 1.4%. Ten of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq climbed 0.2%, or 37.47 points, to finish at 20,677.80 points, posting a new all-time closing high. The fear-gauge CBOE Volatility Index (VIX) was up 1.05% to 17.38. A total of 16.82 billion shares were traded on Tuesday, lower than the last 20-session average of 17.85 billion. Inflation Data Reignites Tariff Fears Inflation data released on Tuesday showed an increase from the May reading. The consumer price index (CPI) rose 0.3% month over month in June, after increasing 0.1% in May. Year over year, CPI increased 2.7%, matching the consensus estimate. Core CPI, which excludes the volatile food and energy components, rose 0.2% sequentially in June and 2.9% from year-ago levels, both matching estimates. The jump in inflation was anticipated, but the reading reignited fears that President Donald Trump's tariffs could weigh on the economy. Trump, over the weekend, announced 30% tariffs on Mexico and the European Union from Aug 1. This weighed on the Dow and the S&P 500, as stocks tumbled on fears of a global trade war. However, the Nasdaq ended in the green, led by a 4% jump in NVIDIA Corporation's ( NVDA ) stock after the AI-giant announced that it would restart sales of its H20 AI chip to China. NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Earnings Season Kicks Off A large number of big banks kicked off the second-quarter earnings season, as they reported a mixed bag of quarterly reports. Among the big banks, shares of JPMorgan Chase & Co. ( JPM ) declined 0.7% despite upwardly revising its 2025 net interest income outlook. The company reported second-quarter 2025 earnings of $4.96 per share, beating the Zacks Consensus Estimate of $4.51 per share. Shares of Wells Fargo & Company ( WFC ) also plunged 5.5% despite the company beating on earnings and revenue estimates. Wells Fargo reported second-quarter 2025 earnings of $1.54 per share, surpassing the Zacks Consensus Estimate of $1.41 per share. All focus will be on the earnings season now, with another batch of banks, including America Corporation ( BAC ) and The Goldman Sachs Group, Inc. ( GS ), scheduled to come up with their quarterly reports later this week. Economic Data In other economic data released on Tuesday, the Empire State Index for July jumped to 5.5 points, beating expectations of a decline to 9. This is the highest level since February. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report Bank of America Corporation (BAC): Free Stock Analysis Report Wells Fargo & Company (WFC): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report
Yahoo
04-06-2025
- Business
- Yahoo
Stock Market News for Jun 4, 2025
U.S. stocks closed higher on Tuesday, driven by a chipmaker rally, as investors awaited more clarity on potential trade deals between the United States and its trading partners. All three major indexes ended in positive territory. The Dow Jones Industrial Average (DJI) rose 0.5% or 214.16 points, to end at 42,519.64 points. The S&P 500 gained 0.6% or 34.43 points to close at 5,970.37 points. Materials and tech stocks were the biggest gainers. The Materials Select Sector SPDR (XLB) gained 1%, while the Technology Select Sector SPDR (XLK) rose 1.5%. The Industrials Select Sector SPDR (XLI) added 0.8%. Eight of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq jumped 0.8%, or 156.34 points, to finish at 19,398.96 points. The fear-gauge CBOE Volatility Index (VIX) was down 3.65% to 17.69. Advancers outnumbered decliners on the NYSE by a 2.32-to-1 ratio. On Nasdaq, a 2.07-to-1 ratio favored advancing issues. A total of 15.69 billion shares were traded on Tuesday, lower than the last 20-session average of 17.8 billion. Chip stocks rallied on Tuesday, led by NVIDIA Corporation (NVDA). Shares of the artificial intelligence darling ended 2.8% higher on Tuesday, surpassing Microsoft Corporation (MSFT) in market capitalization for the first time this year. Shares of other chipmakers like Micron Technology, Inc. (MU) and Broadcom Inc. (AVGO) also jumped 4.2% and 3.3%, respectively. NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Investors are also optimistic about the United States reaching more trade deals with partner nations. The White House said on Monday that President Donald Trump and Chinese President Xi Jinping will meet this week after Trump accused Beijing of violating a temporary trade agreement. The Trump administration also wants other countries to come up with their best offers by Wednesday so that trade negotiations and accelerate before the temporary 90-day pause comes to an end. Meanwhile, the Organization for Economic Co-operation and Development cut its U.S. growth outlook to 1.6% this year from the earlier forecast of 2.2%. Tariff uncertainty was the key reason cited by the OECD to cut the forecast. In the first major jobs report set released this week, the Labor Department's Job Openings and Labor Turnover Survey, or JOLTS report, showed job openings increased in April. The report showed that 1.03 job openings for every unemployed person. Job openings rose 191,000 to 7.391 million in April, slightly up from March. However, layoffs hit a nine-month high in April. Layoffs rose 196,000, the largest since July, but still a low of 1.786 million. In other economic data, factory orders declined 3.7% in April after an unrevised 3.4% jump in March, the Commerce Department reported. However, factory orders increased 2% year over year in April. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Microsoft Corporation (MSFT) : Free Stock Analysis Report Micron Technology, Inc. (MU) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-04-2025
- Business
- Yahoo
Analyst Upgrades Dow, Calls Capex Cut And Asset Sales Positive
Fermium Research analyst Frank J. Mitsch upgraded Dow Inc. (NYSE:DOW) from Hold to Buy at a price forecast of $35. On Thursday, the company reported better-than-expected first-quarter 2025 sales of $10.431 billion, beating the consensus of $10.24 billion, and adjusted EPS of $0.02, beating the consensus estimate of a $0.01 loss. The analyst views Dow's decision to postpone the Ft. Saskatchewan Path2Zero project, which is expected to yield an additional $600 million in capex savings in 2025, as a significant positive. Mitsch believes that this, coupled with the Macquarie infrastructure sale(s) and anticipated NOVA litigation proceeds, should ease dividend concerns for 2025 and 2026. Nevertheless, the anticipated negative free cash flow of up to $1 billion in the first half of 2025 is a point of concern, adds the analyst. The analyst anticipates a reversal in the second half, driven by working capital inflows, reduced maintenance spending, and increased EBITDA from new projects and cost reductions. Amid the continued weak macroeconomics, the analyst lowered 2025 EPS estimates from $1.61 to $0.29 (consensus $1.40) and EBITDA estimates from $5.20 billion to $4.05 billion (consensus $4.82 billion). Also, Mitsch cuts second-quarter EPS and EBITDA estimates from $0.48 and $1.39 billion to $0.00 and $960 million (vs. consensus of $0.33 and $1.25 billion), respectively. Investors can gain exposure to the stock via Materials Select Sector SPDR (NYSE:XLB) and Invesco S&P 500 High Dividend Low Volatility ETF (NYSE:SPHD). Price Action: DOW shares are up 0.37% at $29.87 at the last check Friday. Read Next:Photo via Shutterstock Date Firm Action From To Jan 2022 Goldman Sachs Maintains Neutral Jan 2022 Goldman Sachs Maintains Neutral Jan 2022 Mizuho Maintains Neutral View More Analyst Ratings for DOW View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? DOW (DOW): Free Stock Analysis Report This article Analyst Upgrades Dow, Calls Capex Cut And Asset Sales Positive originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
10-02-2025
- Business
- Yahoo
Stock Market News for Feb 10, 2025
Wall Street closed sharply lower on Friday, pulled down by tech and discretionary stocks. Indexes registered losses after President Trump announced that reciprocal tariffs would be imposed on many countries. Numbers from the labor market also did not help. All three most widely followed indexes closed the session firmly in the red. The Dow Jones Industrial Average (DJI) slid 1%, or 444.23 points, to close at 44,303.40. Twenty-five components of the 30-stock index ended in negative territory, four ended in positive, while one remained unchanged. The tech-heavy Nasdaq Composite declined 268.59 points, or 1.4%, to close at 19,523.40. The S&P 500 lost 57.58 points, or 1%, to close at 6,025.99. All of the 11 broad sectors of the benchmark index closed in the red. The Consumer Discretionary Select Sector SPDR (XLY), the Materials Select Sector SPDR (XLB) and the Technology Select Sector SPDR (XLK) retracted 2%, 1.2% and 0.9%, respectively. The fear-gauge CBOE Volatility Index (VIX) increased 6.7% to 16.54. A total of 15.1 billion shares were traded on Friday, higher than the last 20-session average of 14.9 billion. Decliners outnumbered advancers by a 2.79-to-1 ratio on the NYSE, while on the Nasdaq Composite, declining issues had a 2.53-to-1 advantage. On Friday, President Trump said that his administration will announce reciprocal tariffs on many countries by Monday or Tuesday of this week, in what would be a major shakeup to the United States' trade relations with its business partners. However, Trump did not mention the countries that would be impacted. "I'll be announcing that, next week, reciprocal trade, so that we're treated evenly with other countries. We don't want any more, any less," Trump said during a meeting with Japan's Prime Minister Shigeru Ishiba. For quite some time now, the returning President has been complaining about the European Union's tariffs on auto imports being much higher than what the U.S. charges. There is wide speculation that this week's tariffs might address the issue. While the move might go a long way in fulfilling Trump's campaign promise to be on the same keel with trading partners with regard to tariff imposition, the probable inflationary fallout has continued to spook the stock market in the United States. There is an opinion that by raising tariffs to pay President Trump's 2017 tax cuts, the national debt could go up by trillions of dollars. As a result, tech and discretionary stocks felt the maximum heat in the session. Consequently, shares of Alphabet Inc. GOOGL and Marvell Technology, Inc. MRVL declined 3.3% and 7.2%, respectively. Marvell currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. For the week, all three benchmark indexes accumulated losses, with the Dow breaking a three-week winning streak, ending 0.5% lower. The S&P slid 0.2% while the Nasdaq was lost 0.5%. The Trump administration's tariff plans dominated the proceedings at the start and end of the week. Per the Fed, in December 2024, consumer credit increased $40.8 billion, while the number was revised down to a decrease of $5.4 billion for November from the earlier reported $7.5 billion fall. Per the University of Michigan, preliminary consumer sentiment for February decreased to 67.8 from 71.1 reported in January. According to the U.S. Census Bureau, wholesale inventories for January decreased 0.5%. The number for December was revised down to a 0.1% decrease from the previously reported 0.2% decline. The Labor Department reported that Nonfarm Payrolls had increased by 143,000 for January compared to the revised 307,000 in December. The December number was ramped up from the previously reported 256,000. Average Workweek came down to 34.1 from December's 34.2. Average Hourly Earnings increased 0.5% compared to the December increase of 0.3%. Unemployment Rate in January decreased to 4% from December's 4.1%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report To read this article on click here. Zacks Investment Research
