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Traders work on the floor of the New York Stock Exchange (NYSE) on the first trading day of 2024 on January 02, 2024 in New York City. Stocks' shaky start to 2024 is sparking concerns among some traders, but they shouldn't let this bout of volatility spook them from what could be a rewarding year. Citing the "first five days" indicator, traders worry that the poor performance of stocks since 2024 began is a harbinger of bad things to come on Wall Street. However, that indicator, popularized by the Stock Traders Almanac, doesn't seem to have the predictive power many once believed it had. The same goes for the so-called "January barometer," which claims that "as January goes, so goes the market."
Persons: Stocks, I've Organizations: New York Stock Exchange, Stock Traders, Dow Locations: New York City, Dow Jones
Shares of Meta Platforms are approaching the $1 trillion mark after its stock price gained 200% in 2023. Meta's market cap is now $966.60 billion, which means it's $33.4 billion away from the prized $1 trillion milestone. Microsoft is currently leading the pack with a market cap of $2.93 trillion. In the third quarter of 2023, Meta reported strong earnings that beat analysts' estimates. They would need to close at $389.13 for the company's market cap to hit the trillion-dollar mark, according to a MarketWatch calculation.
Persons: , Meta, Mark Zuckerberg Organizations: Service, Business, Big Tech, Microsoft, Apple, Nvidia, Dow, Market, Meta, Bloomberg
Hundreds of stocks have broken the buck this year, following a slump in the once-hot market for buzzy startups seeking rapid growth. As of Friday, 557 stocks listed on U.S. exchanges were trading below $1 a share, up from fewer than a dozen in early 2021, according to Dow Jones Market Data. The majority of these stocks—464 of them—are listed on the Nasdaq Stock Market, whose rules require companies to maintain a minimum share price of $1 or risk being delisted.
Organizations: Dow Jones Market, Nasdaq, Market
Gold prices are headed for all-time highs, according to Fundstrat's Mark Newton. The technical analyst also has an "intermediate target" for gold to reach $2,500. AdvertisementThis Thanksgiving may call for a feast on gold as prices push towards all-time highs, according to Fundstrat's Mark Newton. To be sure, different datasets have different record highs for gold, but they all go back to 2020. Either way, Newton sees gold prices eventually blowing well beyond those figures.
Persons: Fundstrat's Mark Newton, , Newton Organizations: Service, Dow Jones Market, Bloomberg
Will the S&P 500 Hit Its Longest Winning Streak Since 2004?
  + stars: | 2023-11-09 | by ( ) www.wsj.com   time to read: 1 min
Will the S&P 500 Hit Its Longest Winning Streak Since 2004? The S&P 500 turned lower in early trading Thursday, putting a historic winning streak in jeopardy. The broad stock-market gauge is coming off an eighth consecutive session of wins, the longest streak since 2021. A ninth day would mark the longest string of gains since November 2004, according to Dow Jones Market Data.
Organizations: Dow Jones Market
Late last summer, veteran technical strategist and hedge fund manager David Lundgren urged his clients to bet against US stocks. "That pile of wood is just sitting there waiting for a catalyst, and I think it's coming," Lundgren said. "It's not our job to agree with the market's assessment of the fundamentals," Lundgren said. 5 sectors with strong momentum right nowMany investors remain concerned about a possible recession, but Lundgren has learned to lean on market trends instead of his gut. Coincidentally — or not — 11 of the names were in one of the five sectors that Lundgren highlighted.
Persons: David Lundgren, who's, we're, Lundgren, isn't, MOTR, I'm, there's, Guess what's, Industrials, Organizations: MOTR Capital Management & Research, Dow Jones Market, MOTR Capital Management, Research, Investors, Bank Locations: cyclicals
Yellow Stock Soars, Extending Monday Jump
  + stars: | 2023-08-01 | by ( ) www.wsj.com   time to read: 1 min
Shares of trucking company Yellow continued to soar Tuesday, extending a stretch of busy trading days after the company shut down operations ahead of an expected bankruptcy filing. The stock was recently up about 80%. It more than doubled yesterday, recording its largest one-day rise on record and giving Yellow a market capitalization of about $91 million, according to Dow Jones Market Data.
Organizations: Dow Jones Market
Apple's Market Cap Touches $3 Trillion
  + stars: | 2023-06-30 | by ( ) www.wsj.com   time to read: 1 min
The tech giant's stock traded at $192.23, up about 1.4%, shortly after the opening bell. The threshold for the $3 trillion level was $190.734. The iPhone maker is on track to be the first company to close with a valuation of $3 trillion or higher. The recent jump in its shares makes the company worth more than five of the S&P 500's 11 sectors, according to Dow Jones Market Data.
Organizations: Dow Jones Market
Nvidia Touches $1 Trillion Market Cap
  + stars: | 2023-05-30 | by ( ) www.wsj.com   time to read: 1 min
Nvidia's stock soared last week after the company said the AI boom is translating into record sales. (I-Hwa Cheng/Bloomberg News)Chip maker Nvidia is on pace to enter an exclusive club of companies with a $1 trillion-market capitalization. Its shares would need to close at $404.858 or higher to reach a $1 trillion market cap, according to Dow Jones Market Data based on the latest shares outstanding. The stock recently traded around $408.
First Republic Stock Plunges 48%
  + stars: | 2023-04-28 | by ( ) www.wsj.com   time to read: 1 min
Shares of First Republic are reeling again after the struggling lender on Monday reported a $100 billion drop in customer deposits during last month's banking turmoil. The stock was temporarily halted for volatility as it fell about 48%, putting it just above $3 a share. It's on pace for yet another record low, based on Dow Jones Market Data going back to 2010.
March Swoon Is Nothing New for Bank Investors
  + stars: | 2023-03-30 | by ( Charley Grant | ) www.wsj.com   time to read: 1 min
Bank stocks are reeling again in the wake of this month’s turmoil. They face a long road to win back investors. The abrupt collapses of Silicon Valley Bank and Signature Bank sparked contagion fears in the sector, helping to pull the KBW Nasdaq Bank Index down 25% in March through Wednesday. That is on track to mark the fourth-worst month on record dating to 1992, according to Dow Jones Market Data.
Dividend Stocks Have New Competition: Cash
  + stars: | 2023-03-12 | by ( Charley Grant | ) www.wsj.com   time to read: 1 min
AT&T cut its dividend last year when it divested the WarnerMedia division. Stocks used to be the only game in town for investors chasing robust returns. Soaring inflation has pushed government-bond yields to their highest levels in more than a decade. That, coupled with a soggy stock market, has led to a steady decline in the number of stocks that offer comparatively high yields: There were just 34 stocks in the S&P 500 with a dividend yield above that on the six-month Treasury bill as of Friday, according to Birinyi Associates. The six-month yield settled at 5.116%, according to Dow Jones Market Data
Bitcoin Prices Rally as Larger Traders Take Charge
  + stars: | 2023-02-03 | by ( Patricia Kowsmann | ) www.wsj.com   time to read: 1 min
Larger investors appear to be powering a recovery in bitcoin prices, as the sway of smaller individual traders over cryptocurrency markets wanes. Based on end-of-day trading prices, bitcoin has rallied about 51% from a nadir hit in November, after the collapse of the crypto exchange FTX, according to Dow Jones Market Data. It was quoted late Thursday at about $23,600, and drifted slightly lower in early trading Friday. Other tokens such as ether and dogecoin have also rebounded. The recovery mirrors a rebound in other risky assets, such as some high-growth technology stocks.
New York CNN —There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. What’s happening: Investors are purchasing put options, a bearish bet that a stock will fall during a set period of time, on certain tech stocks at historic rates. The losses also created a booming market for investors who hold put option contracts that allow investors to sell shares of these stocks at a price higher than their current levels. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. Beyond that, the growing number of layoffs may also give certain tech companies some cover to take more severe steps to trim costs now than they may have otherwise done.
Gold prices are finishing the year flat, a surprising performance given persistently high inflation. Wall Street doesn’t expect the doldrums to last. A late-year rally has the most actively traded gold futures contract down 0.3% in 2022, to $1,823.10 a troy ounce, according to Dow Jones Market Data. Gold is on pace to record two straight years of declines for the first time since 2015.
U.S. stocks slipped Monday, dragged lower by shares of everything from banks to technology companies. Major indexes are on track to end December lower, a somewhat unusual occurrence. The S&P 500 has risen in 73% of Decembers since 1928, according to Dow Jones Market Data. As of Monday’s close, the S&P 500 had fallen 6.4% in December.
The US dollar has soared this year but is on pace for its largest monthly loss since 2010. In November, it has fallen 4.2% against a basket of currencies, according to the WSJ Dollar Index. Still, the greenback remains up more than 10% on the year after hawkish Fed policy powered a steep climb. As November winds down, the greenback has shed 4.2% in the month against a basket of other currencies, according to the WSJ Dollar Index. The Fed is widely expected to raise rates by 50 basis points next month, after four consecutive hikes of 75 basis points.
The pandemic has led to more than $150 billion in sales from new Covid-19 products, including vaccines. Soaring interest rates and a shaky economic outlook have hit stock prices this year. Health stocks are holding up better than most. The S&P 500’s healthcare sector index is down 7.9% in 2022, on pace for its worst year since 2008. Yet it is still outperforming the broader market by 14 percentage points, the widest gap since 2000, according to Dow Jones Market Data.
U.S.-listed Chinese stocks lost tens of billions of market value on Monday as investors weighed the outcome of the Chinese Communist Party’s national congress meeting over the weekend. The Nasdaq Golden Dragon China Index, which tracks dozens of Chinese companies listed on American exchanges, fell more than 14% to its lowest closing level since April 2013, erasing $73.4 billion in market cap since Friday’s close through Monday, according to Dow Jones Market Data.
U.S.-listed Chinese stocks plunged to their lowest level in nearly a decade, losing tens of billions of dollars in market value on Monday, one day after President Xi Jinping secured a third term as leader of the Communist Party. The Nasdaq Golden Dragon China Index, which tracks dozens of Chinese companies listed on American exchanges, fell more than 14% to its lowest close since April 2013, erasing $73.4 billion in market cap since Friday’s close through Monday, according to Dow Jones Market Data.
U.S. stocks closed sharply higher Thursday in a head-spinning reversal, after investors decided that fresh evidence of high inflation wasn’t as bad as it initially appeared. It was the first time that the Dow Jones Industrial Average both fell at least 500 points and rose at least 800 points in a single trading day, according to Dow Jones Market Data. The whipsaw moves were reminiscent of the early stages of the Covid-19 pandemic, another time of deep uncertainty about the economic outlook.
It is the worst year for buying the stock-market dip since the 1930s. Instead of rebounding after a tumble, stocks have continued to fall, burning investors who stepped in to buy shares on sale. The S&P 500 has dropped 1.2% on average this year in the week after a one-day loss of at least 1%, according to Dow Jones Market Data. That is the biggest such decline since 1931.
Buying the Stock-Market Dip Is Backfiring This Year
  + stars: | 2022-09-25 | by ( Gunjan Banerji | ) www.wsj.com   time to read: 1 min
It is the worst year for buying the stock-market dip since the 1930s. Instead of rebounding after a tumble, stocks have continued to fall, burning investors who stepped in to buy shares on sale. The S&P 500 has dropped 1.2% on average this year in the week after a one-day loss of at least 1%, according to Dow Jones Market Data. That is the biggest such decline since 1931.
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