Latest news with #XLRE
Yahoo
30-05-2025
- Business
- Yahoo
Stock Market News for May 30, 2025
Wall Street closed higher on Thursday, driven by real estate and energy stocks. Investor mood was upbeat on a federal appeals court temporarily reinstating the most sweeping of Trump's tariffs. Earnings from a semiconductor giant also boosted morale. All three benchmark indexes closed the session in the green. The Dow Jones Industrial Average (DJI) added 0.3%, or 117.03 points, to close at 42,215.73. Twenty-two components of the 30-stock index ended in positive territory, while eight ended in negative. The tech-heavy Nasdaq Composite gained 74.93 points, or 0.4%, to close at 19,175.87. The S&P 500 rose 23.62 points, or 0.4%, to close at 5,912.17. Ten of the 11 broad sectors of the benchmark index closed in the green. The Real Estate Select Sector SPDR (XLRE), the Energy Select Sector SPDR (XLE) and the Utilites Select Sector SPDR (XLU) advanced 0.9%, 0.8% and 0.7%, respectively, while the Communication Services Select Sector SPDR (XLC) declined 0.8%. The fear-gauge CBOE Volatility Index (VIX) decreased 0.7% to 19.18. A total of 18.65 billion shares were traded on Thursday, higher than the last 20-session average of 17.7 billion. Advancers outnumbered decliners by a 2.26-to-1 ratio on the NYSE, while on the Nasdaq, advancing issues led by 1.48:1. On Thursday, the U.S. Court of International Trade ruled that President Donald Trump had way surpassed his authority by imposing sweeping tariffs under the International Emergency Economic Powers Act (IEEPA) of 1977. The court found that the IEEPA does not grant the President the power to unilaterally impose such tariffs without Congressional approval, leading to a hold on these tariff impositions. In response to this ruling, financial markets reacted positively. Major U.S. stock indices experienced gains as investors anticipated a de-escalation in trade tensions. The impact was global. Even the Indian stock market opened higher, reflecting optimism about improved U.S.-India trade relations and the potential for Indian exporters to benefit from a shift in global supply chains away from China. However, the situation remains fluid. The Trump administration has appealed the decision, and a federal appeals court has temporarily allowed the continuation of tariff collection under emergency powers while the legal process unfolds. This continues to influence market dynamics and investor sentiment. However, on the day, market sentiment was good. On Thursday, NVIDIA Corporation's NVDA impressive earnings report significantly boosted investor confidence, emphasizing its pivotal role in the AI-driven environment. The company announced a 69% year-over-year revenue increase, reaching $44.1 billion, surpassing Wall Street expectations. The company, which came out with its report on Wednesday after hours, reported quarterly revenues of $44.06 billion, beating the Zacks Consensus Estimate of $42.9 billion. This robust performance underscored strong demand for Nvidia's AI chips, particularly in data centers, which saw revenues of $39.1 billion, a 73% increase from the previous year. Despite a slide in net profit to $18.78 billion, just below the forecasted $19.49 billion, the market responded positively. Nvidia's stock rose more than 3.3%, reflecting investor optimism about the company's resilience and growth prospects. Consequently, shares of Gilead Sciences, Inc. GILD and Fair Isaac Corporation FICO rose 2.4% and 4%, respectively. Both currently carry a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Department of Labor also reported that initial claims increased by 14,000 to 240,000 for the week ended May 24 from the previous week's revised level. The last week's level was revised down by 1,000 from 227,000 to 226,000. The 4-week moving average was 230,750, a decrease of 250 from the prior week's revised average. The previous week's average was revised down by 500 from 231,500 to 231,000. Continuing claims through the week ending May 17 were 1,919,000, an increase of 26,000 from the previous week's revised level. This is the highest level for continuing claims since November 13, 2021, when it was 1,970,000. The last week's level was revised down by 10,000 from 1,903,000 to 1,893,000. The 4-week moving average was 1,890,250, an increase of 2,750 from the previous week's unrevised average of 1,887,500. This is the highest level for this average since November 27, 2021, when it was 1,923,500. Per a government report, crude Inventories for the week ended May 23 decreased by 2.8 million barrels. The number for the week prior remained unrevised at 1.3 million barrels. Per the National Association of Realtors, pending home sales for April declined 6.3%. The number for March was revised down to an increase of 5.5% from the previously reported 6.1%. Gross Domestic Product (GDP) decreased at an annual rate of 0.2% in the first quarter of 2025, according to the second estimate released by the U.S. Bureau of Economic Analysis. Previously, this was reported to have gone down by 0.3%. 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 Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Fair Isaac Corporation (FICO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Globe and Mail
14-04-2025
- Business
- Globe and Mail
Stock Market Today in Review – Consumer Confidence Falls Below 2008 Levels
Today was a good day for stock investors as the major indices—the Nasdaq 100 (QQQ), the S&P 500 (SPY), and the Dow Jones Industrial Average (DIA) —finished in the green. Interestingly, the trading session was led by the real estate (XLRE) and utilities (XLU) sectors. In addition, across all three ETFs, trading volume was lower than the average. Separately, consumer confidence has taken a sharp hit and is now at levels that are even lower than during the 2008 financial crisis, according to the latest University of Michigan survey. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Sentiment has dropped significantly across multiple income groups, with confidence sitting at around 45% for households earning under $100,000 and just above 50% for those earning more. In addition, inflation expectations have surged, with the median 12-month forecast at 6.75%, while expectations for income growth have slowed to just 0.25%. As a result, nearly 70% of people are now worried about losing their jobs, which is an anxiety level that is typically seen during a recession. Separately, a CBS News/YouGov poll highlighted that most Americans believe President Trump's tariff policies will primarily benefit the wealthy and large corporations. Indeed, roughly three-quarters of respondents think that prices will rise due to the tariffs, and nearly half believe the policies are making them worse off. Only 42% think that the middle and working class will benefit. Unsurprisingly, the majority of Republicans support the measures and believe they will eventually add jobs, while most Democrats and independents remain skeptical. Adding to these concerns, former Treasury Secretary Janet Yellen said that the bond market's recent troubles are due to a 'loss of confidence' in U.S. economic policy, mostly because of Trump's unpredictable tariffs. She told CNBC that rising bond yields and a weaker dollar show that investors may be losing trust in U.S. assets. Yellen also warned that these trends are unusual and worrying. She believes the Federal Reserve can step in if needed but said that the uncertainty from tariffs makes it especially hard for the Fed to manage inflation and economic growth right now.
Yahoo
08-04-2025
- Business
- Yahoo
Stock Market News for Apr 8, 2025
Wall Street closed mixed on Monday, continuing to reel under the tariff war. Tech stocks rebounded slightly after sessions of overselling, with confusion around a tariff report dominating proceedings. Two of the three most widely followed indexes closed the session in the red, while one closed in the green. The Dow Jones Industrial Average (DJI) fell 0.9%, or 349.26 points, to close at 37,965.60. Twenty-two components of the 30-stock index ended in negative territory, while eight ended in positive. The tech-heavy Nasdaq Composite gained 15.48 points, or 0.1%, to close at 15,603.26. The S&P 500 lost 11.83 points, or 0.2%, to close at 5,062.25. Nine of the 11 broad sectors of the benchmark index closed in the red. The Real Estate Select Sector SPDR (XLRE), the Materials Select Sector SPDR (XLB) and the Utilities Select Sector SPDR (XLU) lost 2.4%, 1.6% and 1.5%, respectively, while the Technology Select Sector SPDR (XLK) recovered 0.6%. The fear-gauge CBOE Volatility Index (VIX) increased 3.69% to 46.98. A total of 29.13 billion shares were traded on Monday, widely surpassing the last 20-session average of 17.13 billion. Decliners outnumbered advancers by a 4.45-to-1 ratio on the NYSE. Earlier on Monday, stocks rejoiced as reports emerged about the Trump White House considering a 90-day tariff pause. The discussion might have stemmed from Bill Ackman suggesting on Sunday that Trump should implement a "90-day time out." CNBC reported and quoted White House Economic Council Director Kevin Hassett saying that the U.S. President was considering the same for all countries except China. According to the report, after falling 20% below its record closing high, the S&P 500 briefly rallied more than 3%. However, later in the session, the White House refuted this as fake news, and the markets slumped again. Tech stocks rebounded a bit from overselling, but all other sectors continued to fall. Real Estate and Utilities were particularly hit. Consequently, shares of Ferrovial SE FER and American Water Works Company, Inc. AWK slid 4.7% and 3.3%, respectively. AWK currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. On Monday, oil prices decreased 2% to an almost four-year low on concerns about the Trump administration's latest trade tariff policies and the possibility of a recession arising from it, which would in turn bring down the global demand for energy. Brent crude fell $1.37, or 2.1%, to settle at $64.21/barrel, while WTI crude fell $1.29, or 2.1%, to settle at $60.70. Per a report by the Federal Reserve, consumer credit for February decreased by $800 million against the consensus of a $15.5 billion increase. The number for January was revised down to an increase of $8.9 billion against the $18.1 billion previously reported. 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 American Water Works Company, Inc. (AWK) : Free Stock Analysis Report Ferrovial SE (FER) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
