The Economic Times
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| 27 February, 2021, 12:10 AM IST | E-Paper

    Nasdaq closes higher; stimulus in focus

    The tech-heavy Nasdaq hit an all-time high for the fifth consecutive session on early gains in Apple Inc, Inc and Google-parent Alphabet Inc, which later turned lower amid a shift in portfolio allocations.

    Nasdaq, S&P 500 end lower as US yields rise; Disney lifts Dow

    U.S. benchmark 10-year Treasury yields were up at 1.363% . Since the beginning of February, 10-year yields have risen about 26 basis points, on track for their largest monthly gain in three years.

    Nasdaq ends lower as tech slides; inflation concerns weigh

    Technology shares led losses on the S&P 500 and Nasdaq. Apple Inc, PayPal Holdings Inc and Nvidia Corp weighed most on both indexes. The S&P 500 tech index ended 1% lower.

    Nasdaq, S&P 500 gain on tech stocks, hopes for more stimulus

    Nvidia Corp rose 3.2% and Intel Corp 3.1%, making technology the leading sector to gain on the S&P 500 and Nasdaq. Declining shares outnumbered gainers on the Nasdaq and New York Stock Exchange.

    Wall Street finishes up as Fed's Powell soothes inflation fears

    Powell told lawmakers on Wednesday it may take more than three years to reach the central bank's inflation goals, a sign the Fed plans leave interest rates unchanged for a long time to come.

    Wall Street ends sharply lower, tech selloff weighs as bond yields climb

    The benchmark 10-year Treasury yields hit a one-year high of 1.614%, prompting investors concerned about rich valuations to lock in profits on some high-flying growth stocks.

    S&P 500, Nasdaq post biggest weekly gains since early November

    Both the Dow Jones industrial average and S&P 500 rose for a fifth straight session in their longest streak of gains since August, while the S&P 500 and Nasdaq posted record closing highs for a second day in a row.

    S&P 500, Nasdaq hit record closing highs amid upbeat earnings, data

    The Dow and S&P 500 rose for a fourth straight day, with investor hopes of further progress on a pandemic-relief package also boosting the market. Democrats in the U.S. Senate were poised to take a first step toward the ultimate passage of President Joe Biden's $1.9 trillion COVID-19 relief proposal.

    Wall Street extends losses as inflation fear lingers

    Shares of Inc, Microsoft Corp and Alphabet Inc edged up between 0.4% and 1%, but were headed for their worst week in months.

    S&P 500, Dow close higher in late session turnaround

    Market-leading growth stocks, which thrived amid pandemic-related lockdowns, weighed on stocks for much of the day as investors favored shares that stand to gain most as ongoing vaccine deployment allows economic restrictions to be lifted.

    S&P 500 hits record peak as stocks post weekly gain

    The major indices traded in a tight range during the week in which investors rotated out of growth-oriented stocks that have dominated an almost year-long rally and bought cyclical and under-priced value stocks.

    Wall Street rally pauses as big tech loses steam

    Stocks shrugged off remarks by Federal Reserve Chairman Jerome Powell, who reassured investors that interest rates will remain low for some time to spur the economy and jobs growth, but provided no new insights on monetary policy.

    Wall Street rebounds to end about flat after Jerome Powell assurances

    The benchmark Dow Jones Industrial Average dropped nearly 350 points in early trading, but recovered to close with a scant gain of less than 16 points at 31,537.35, while the broad-based S&P 500 edged up 0.1 percent to finish at 3,881.37.

    Wall Street sets record closing highs on stimulus hopes, vaccine deployment

    All three major U.S. stock indexes gained ground, with the S&P 500 and the Dow posting their sixth consecutive gains, their longest winning streak since August. Small-caps, set to benefit most from the economic rebound, outperformed their larger peers.

    Nasdaq scales new high ahead of big-tech earnings; cyclicals lag

    The so-called "stay-at-home" winners including Microsoft Corp, Facebook Inc and Apple Inc rose between 1.7% and 4.3%, following upbeat results from Netflix Inc last week.

    Wall St closes down on tech slide, rising jobless claims

    The Dow Jones Industrial Average fell 119.68 points, or 0.38%, to 31,493.34, the S&P 500 lost 17.36 points, or 0.44%, to 3,913.97 and the Nasdaq Composite dropped 100.14 points, or 0.72%, to 13,865.36.

    Stimulus hopes drive Dow to closing peak but interest rate worries loom

    The Nasdaq, however, dipped as technology stocks moved lower, while concerns over rising interest rates kept the benchmark S&P 500 little changed.

    S&P 500 posts biggest gain since Nov. 24, led by gains in tech shares

    The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains.

    S&P, Nasdaq slip from record levels as earnings season gains speed

    3M Co climbed 3.26% as one of the biggest boosts on the Dow after it benefited from lower costs and demand for disposable respirator masks, hand sanitizers and safety glasses amid a surge in coronavirus infections.

    Wall St jumps for 2nd day; Amazon says Bezos to step down from CEO role

    While Inc ended the regular session up 1.1%, the company shocked investors after the bell with news that Jeff Bezos would move to the role of executive chairman in the third quarter and be replaced by Amazon Web Services head Andy Jassy as chief executive officer.

    S&P 500, Dow end up for 3rd day as Alphabet jumps, volatility eases

    Alphabet shares ended up 7.3% and provided the biggest boost to the S&P 500. The Google parent late Tuesday posted results that topped quarterly sales expectations for its advertising and Cloud businesses, helped in part by the pandemic.

    Wall St drops after J&J vaccine data, GameStop effect weighs

    Johnson & Johnson fell 3.56% as one of the biggest weights on both the Dow and S&P500 after the drugmaker said its single-dose vaccine was 72% effective in preventing COVID-19 in the United States, with a lower rate of 66% observed globally.

    Nasdaq Clearing fined $36 mln in Sweden over 2018 trader default

    The default by private Norwegian trader Einar Aas left a 114 million euro ($139 million) hole in the clearing house's resources, forcing other members of the market to cover the loss within two business days or face default themselves.

    Wall Street closes lower as banks, energy shares tumble

    The S&P 500 banks index lost ground as shares of Wells Fargo & Co, JPMorgan Chase & Co and Citigroup Inc tumbled even though they had posted better-than-expected fourth-quarter profits. The bank sector had rallied sharply in recent days.

    Wall St rebounds as earnings heat up, short worries cool

    Heavyweights, including Microsoft Corp, and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.

    Scoop: Grofers in talks with Cantor Fitzgerald's SPAC for Nasdaq listing

    SoftBank Vision Fund-backed Grofers is expected to raise between $400 million and $500 million through the Nasdaq listing in May at a valuation of more than $1 billion.

    S&P 500 ends with slightest gain as small caps favored

    U.S. Treasury yields climbed and the small cap Russell 2000 finished up 1.8% at a record high, after outperforming throughout the session, along with the cyclical financial and energy sectors, which are heavily dependent on a strong economy for growth.

    Wall Street closes at record highs as Netflix jumps, Biden inaugurated

    Shares of the world's largest streaming service Netflix surged 16.85% after the company said it would no longer need to borrow billions of dollars to finance its TV shows and movies.

    Nasdaq ends at record high as investors await stimulus

    Stocks traded in positive territory after the Fed promised to keep funneling cash into financial markets to fight the recession, even as policymakers' outlook for next year improved following initial rollout of a coronavirus vaccine.

    Wall Street closes on a mixed note, dollar advances on COVID-19 concerns

    Equity markets have scaled record highs in recent days on bets vaccines will start to reduce infection rates worldwide and on a stronger U.S. economic recovery under President Joe Biden.

    Dow, S&P 500 close higher, but pro-Trump protests weigh on gains

    "It hasn't been a sharp market drop. There have been buyers coming in as well. This is a bit shocking visually to see this unfold on television," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York.

    Wall Street ends lower but crude advances as Senate weighs expanded stimulus

    All three major U.S. stock indexes oscillated, at one point following the MSCI World Stocks index to record intraday highs, but ended the session in negative territory as market participants balanced near-term challenges with longer-term hopes for economic recovery and a return to healthy demand.

    Stocks slump to worst day in three months in wake of Fed statement

    After briefly paring losses, declines accelerated in the wake of the policy statement from the Federal Reserve. The central bank kept overnight interest rate near zero and made no change to its monthly bond purchases, as was widely expected, and pledged to keep that support intact until a full economic rebound is in place.

    How far from GameStop to game over?

    The S&P 500 and the Nasdaq indexes lost about 2.6% each as funds scrambled to sell their positions in stock market darlings such as the FAANGs to make up for surging losses from bets made against struggling smaller companies.

    Nasdaq ends at record high on stimulus bets, Apple boost

    Apple Inc was the top boost to the Dow and the Nasdaq, rising 4% to a more than three-month high after a report said it plans to increase iPhone production by 30% in the first half of 2021.

    Nasdaq hits record high, S&P 500 ends lower

    Tesla was Wall Street's most traded stock by value, with about $25 billion worth of shares exchanged, according to Refinitiv data, more than double Boeing, in second place.

    Wall Street closes higher; focus on Georgia election outcome

    Along with their narrow majority in the House of Representatives, a "blue sweep" of Congress could usher in larger fiscal stimulus. It could also pave the way for President-elect Joe Biden to push through greater corporate regulation and higher taxes.

    S&P 500, Nasdaq end at record highs on vaccine optimism

    Investors stayed focused on updates about a handful of vaccine candidates and the start of global shipments as drugmakers submit paperwork for regulatory approvals.

    Wall Street ends lower on worries over Georgia elections, virus surge

    The Dow, which touched a record high earlier in the session along with the S&P 500, was also dragged down by a more than 4% fall in Boeing Co's shares after Bernstein cut its rating to "underperform," citing concerns about cash flow.

    Investing globally isn't just about buying FAANG or Nasdaq ETF: Devina Mehra

    The fact that one country or an asset class cannot perform forever, and that bull and bear markets always coexist, brings in the need for diversification, she said.

    US corporate buybacks are on the rise, lifting investor hopes

    Buybacks are not likely to return this year to pre-pandemic levels, but recent buyback talk from companies has lifted investor hopes that repurchase trends have turned the corner, thanks to optimism over the rollout of vaccines to fight COVID-19.

    Wall Street closes higher on vaccine lift; S&P 500, Nasdaq at records

    Johnson & Johnson rose 1.73% to help lift both the Dow and S&P 500 after the company said it could obtain late-stage trial results of a single-dose COVID-19 vaccine it is developing in January, earlier than expected.

    Asian stocks open higher as Fed's Powell nixes inflation fears

    "The dovish influence from the Fed is going to continue to resonate over in Asia. That's really good for emerging market assets when we've got a really good impulse from the Fed," said Stephen Innes, chief global markets strategist at Axi.

    Nasdaq closes higher with tech stocks back in favor

    After falling sharply for two days, the tech-heavy Nasdaq was boosted by "stay-at-home" stocks such as Microsoft , Inc, Apple Inc and Netflix Inc, which advanced in Wednesday's session.

    Ahead of Market: 12 things that will decide stock action on Thursday

    Chandan Taparia, Technical & Derivative Analyst at MOFSL said, "Now Nifty has to hold above 14,900 level to extend its move towards 15,150 and then 15,250 levels, while on the downside, immediate support exists at 14,850 and 14,700 levels."

    Nasdaq retreats as technology stocks lose favor

    The Dow Jones Industrial Average rose 262.95 points, or 0.9%, to 29,420.92, the S&P 500 lost 4.97 points, or 0.14%, to 3,545.53 and the Nasdaq Composite dropped 159.93 points to 11,553.86.

    Nasdaq closes at record high as growth names get a lift

    The tech-heavy Nasdaq advanced to close at a record, as several of its largest constituents, including Apple and Facebook Inc, rose. Still, a decline in names such as Alphabet and Microsoft kept major averages in check.

    Japan's Nikkei closes below 30,000 on profit booking in tech shares

    The Nikkei share average slipped 1.61 per cent to 29,671.70, falling below the psychologically important mark hit last week, while the broader Topix fell 1.82 per cent to 1,903.07.

    A pain trade may be brewing for ‘growth at any price’ investors

    Harvey joined the latest episode of the “What Goes Up” podcast to discuss why he’s not ready to throw in the towel on his conservative target.

    S&P, Nasdaq close at record highs on optimism about Biden stimulus plan

    The number of Americans filing new applications for unemployment benefits dipped to 900,000 last week but still remained stubbornly high as the COVID-19 pandemic tears through the nation, raising the risk that the economy will shed jobs for a second straight month in January.

    Wall St ends lower as investors weigh stimulus hopes

    The Labor Department's weekly jobless report showed the number of Americans filing first-time claims for unemployment benefits increased more than expected last week, underscoring the impact of a resurgence in COVID-19 infections.

    S&P closes higher with defensive sectors leading gains

    U.S. Treasury yields fell after rising for six straight sessions, giving a boost to rate-sensitive defensive sectors such as utilities and real estate, while economically sensitive cyclical sectors lagged.

    S&P 500, Dow close at record highs, dollar gains at end of tumultuous year

    "It's a quiet day with little news and low volume - an ironic end to such a tumultuous year," said David Carter, chief investment officer at Lenox Wealth Advisors in New York.

    Wall St ends lower with Washington turmoil, earnings in view

    But some investors worried stimulus could be delayed as House Democrats introduced a resolution to impeach U.S. President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol by his supporters.

    Wall Street closes with a modest gains on Brexit deal, stimulus hopes

    While stocks tend to perform well in the closing days of December, a phenomenon known as the Santa Claus rally, the resurgent pandemic and upcoming Senate runoffs in Georgia have clouded the outlook this year.

    Japanese shares slip on market outlook caution, Fast Retailing shines

    The Nikkei 225 index settled down 0.19% at 30,236.09, reversing earlier gain, while the broader Topix fell 1% to 1,941.91.

    Asia shares try to rally, retail crowd catches silver bug

    MSCI's broadest index of Asia-Pacific shares outside Japan recouped early losses to rise 0.7%, bouncing after four straight sessions of losses.

    Australia shares slip as gold miners weigh, BHP hits record high

    The S&P/ASX 200 index fell 0.5 per cent to 6,885.2 points at the close of trade, following gains in the last two sessions, and slipped from a one-year high hit on Tuesday.

    Dow Jones gains, Nasdaq hits record high as holiday shopping begins

    The Nasdaq outperformed as investors favored tech-related, market-leading stocks that have fared well during the pandemic, while economically sensitive cyclical stocks weighed.

    Home-selling platform Opendoor closes higher in Nasdaq debut

    Opendoor, which earlier this year had agreed to combine with Palihapitiya's Social Capital Hedosophia II, closed at $31.25, up from Social Capital's last close on Friday before it began trading under its new name.

    A tulip by another name? 'Gamestonk' and the case for investor caution

    On February 3, 1636, the infamous Dutch tulip bubble burst during an outbreak of the bubonic plague, illustrating that asset prices can plummet just as quickly as they soar, leaving only pain behind.

    Dow Jones closes flat as cyclicals shine, big tech falls

    Industrials led rising sectors in the S&P 500, spurred by a 9.9% surge in Deere & Co and Caterpillar's 5.0% gain to an all-time peak of $211.40 a share. Financials, materials and energy, along with industrials, rose more than 1%.

    Wall Street closes lower as stimulus rally cools, Tesla volume jumps

    All three major indexes hit record highs at the opening before retreating. The S&P 500 technology index, which has led gains this week, was the biggest drag on the overall benchmark index.

    S&P 500 ends lower as new COVID storm clouds overshadow stimulus passage

    "Today the market is catching its breath," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. "It's digesting the two big pieces of news we've gotten in the last 24 hours, the stimulus and the new COVID strain."

    Asian shares hit all-time highs, oil buoyant

    Japan's Nikkei climbed 1.3%, despite data showing the country's recovery from its worst postwar recession slowed in the fourth quarter.

    Wall St closes higher as Yellen backs more stimulus

    President-elect Joe Biden, who will be sworn into office on Wednesday, outlined a $1.9 trillion stimulus package proposal last week to jump-start the economy and accelerate the distribution of vaccines.

    Asian stocks on hold for Lunar New Year, bitcoin eyes record highs

    MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.05 per cent, trading just shy of an all-time high reached in the previous session.

    Markets, oil drop in Asia but bitcoin edges towards $50,000

    Bitcoin continued to hit new highs, peaking at $48,930 Friday, having been given another boost after MasterCard and US bank BNY Mellon moved to make it easier for people to use the cryptocurrency.

    Wall Street climbs to record as fiscal aid bill signed

    U.S. equities followed their European counterparts with a broad rally, and communications services and consumer discretionary stocks led the charge.

    Wall Street shakes off labor market data with stimulus in focus

    But equities moved well off lows that saw the S&P 500 down as much as 0.75% after U.S. Treasury Secretary Steven Mnuchin said talks between Republican and Democratic senators on COVID-19 relief were making "a lot of progress" with more discussions expected in the day.

    Wall Street ends lower on stimulus uncertainty, Facebook weighs

    Investors are banking on a long-awaited relief package to help buttress an economy battered from the COVID-19 pandemic and related lockdowns that has led to millions of layoffs and overwhelmed the healthcare system.

    Wall Street investors bullish on stocks, hoping for a brighter 2021

    The golden run by some high-flying growth names could continue, investors said.

    S&P 500 hits record as investors await fiscal deal

    Republicans and Democrats in Congress remained unable to reach agreement on fresh relief for a pandemic-hit U.S. economy, although some investors said bad economic news could spur policy makers to push harder for a deal.

    Wall Street ends up on recovery expectation

    "The markets are saying 'what have you done for me lately?' and people are going to be focusing on what's going to happen if we see more and more restrictions due to the pandemic."

    GameStop frenzy reveals potential for broader market stress

    U.S. equities appear to be looking past last week's surge in volatility that led the S&P 500 to its biggest weekly decline since October. Solid earnings, fiscal stimulus expectations and progress in country-wide vaccination efforts are leading stocks back to all-time highs.

    Japanese shares rally on upbeat earnings, US stimulus hopes

    Nikkei share average jumped 1.54 per cent to 28,779.19. The broader Topix gained 1.38 per cent at 1,890.95.

    S&P 500 ends lower as COVID worries lightened by stimulus

    The Nasdaq dipped slightly to join the S&P 500 in the red, but financials helped the blue-chip Dow reverse course for a modest gain.

    Wall St tops new highs on Democrat-driven stimulus hopes

    The Dow, S&P 500 and Nasdaq all set new highs amid growing calls for President Donald Trump's removal, one day after Trump supporters stormed the U.S. Capitol in a harrowing assault on American democracy.

    Former Morgan Stanley India head’s SPAC to tap diaspora in US

    KludeIn 1 Acquisition Corp., a special purpose acquisition company, raised about $173 million in an initial public offering in January.

    How a GameStop share pullback could hurt some investors

    Shares of GameStop, which had seen a spectacular rally, fell 31 per cent on Monday to close at $225, 53 per cent lower than their Jan 28 peak of $483.

    Stimulus uncertainty hems in Wall Street; Disney soars

    Lawmakers have wrangled for months over a fresh fiscal stimulus package to support an economy battered by coronavirus lockdowns. New York Governor Andrew Cuomo on Friday suspended indoor dining in New York City, effective Monday.

    Asian shares rally as retail crowd catch silver bug

    Japan's Nikkei added 1.2 per cent, after shedding almost 2 per cent on Friday, while Chinese blue chips gained 0.5 per cent as the country's central bank injected more cash into money markets.

    S&P 500 ends down, Walt Disney weighs

    U.S. officials began to administer the vaccine developed by Pfizer and its German partner BioNTech on Monday following emergency-use approval from federal regulators last week.

    S&P, Nasdaq close higher as stimulus talks in spotlight

    Uncertainty over the timeline of the relief legislation has been weighing on Wall Street's major indexes in recent sessions, with all three indexes posting declines for the week.

    S&P 500, Dow retreat from record highs after bleak jobless data

    The S&P 500 and the Dow Jones Industrial Average retreated from record closing highs, pulled lower by cyclicals and small caps that drove the rally earlier in the week.

    Wall Street closes higher, trade choppy as US stimulus talks eyed

    U.S. House of Representatives Speaker Nancy Pelosi reported progress in talks with the Trump administration for another round of financial aid and said legislation could be hammered out "pretty soon".

    Ahead of Market: 12 things that will decide stock action on Thursday

    On the technical front, Shrikant Chouhan of Kotak Securities said, the Nifty50 has taken support at 13,950 level and it is possible that the index may give a healthy bounceback to 14,400-14,500 ahead of the Budget or the day of the Budget.

    Asian shares step back, Microsoft's brisk earnings boost tech optimism

    MSCI's gauge of Asian ex-Japan shares slipped 0.2 per cent, dragged lower by profit-taking in resource shares as some investors have grown wary of stretched valuations.

    Nasdaq to buy financial fraud detection firm Verafin for $2.75 billion

    While Nasdaq is best known for operating exchanges in the United States and globally, it is also a provider of market technology to banks and other financial institutions.

    Wall Street ends lower as Nasdaq rout persists

    At its lowest point of the day the tech-heavy Nasdaq fell as much as 9.9% from its record high reached on Wednesday and the S&P 500 dipped briefly below its pre-crisis record, reached in February, although it too closed well off session lows.

    Asian stocks post biggest fall in two months on US stimulus worries

    The lower risk appetite lent some support to the dollar against a basket of currencies, while oil prices edged down.

    Wall Street rallies on coronavirus vaccine trial results

    U.S. crude oil rose more than 8% and pushed up energy stocks while safe-haven U.S. Treasuries sold off after U.S. drugmaker Pfizer and its German partner BioNTech said a large-scale trial of their vaccine showed it was more than 90% effective in preventing COVID-19.

    Wall Street ends sharply lower as pandemic fears resurge

    The blue-chip Dow was pulled down by industrial and financial companies sensitive to economic growth, with Boeing Co and Goldman Sachs each down more than 2%.

    Nasdaq to remove four Chinese companies' shares from indexes after US order

    The securities, which are not traded on the Nasdaq exchange, will be removed from the indexes on Dec. 21.

    Wall Street closes lower as shutdown worries loom

    But a recent surge in new coronavirus cases across the United States has led several governors to enact new restrictions to prevent the disease from spiraling out of control.

    ETMGS 2021 Day 3: One country or an asset class cannot perform forever, bull & bear markets always coexist, says Devina Mehra

    ETMarkets Global Summit: Investing globally isn't just about buying a Nasdaq ETF, a handful of FAANG stocks or the S&P index -- the US is not the world. The fact that one country or an asset class cannot perform forever, and that bull and bear markets always coexist, brings the need for diversification. True global investing means investing across asset classes and countries, said Devina Mehra, Co-Founder and Chairperson of First Global.ETMGS 2021 Day 3: One country or an asset class cannot perform forever, bull & bear markets always coexist, says Devina Mehra

    Dow, S&P close lower as IBM, Intel weigh, coronavirus concerns rise

    IBM Corp slumped 9.91% and was the top drag on the Dow Jones Industrial Average after it missed estimates for quarterly revenue, hurt by a rare sales decline in its software unit.

    Sensex, more than just first among equals

    “India’s GDP grew from $249 billion in 1986 to $2.9 trillion last year. As the government envisions a $5 trillion economy over the next five years, indices can be expected to surge significantly in the next couple of years.”

    S&P 500 ends down after rallying to best November ever

    IHS Markit jumped 7.4% after data giant S&P Global agreed to buy the financial information provider in a $44 billion deal that would be the biggest corporate acquisition of 2020.

    Ahead of Market: 12 things that will decide stock action on Thursday

    Manish Hathiramani, proprietary index trader and technical analyst at Deen Dayal Investments said, “We should now be headed to 14,800-14,900. Good support has been created at 14,200. Keeping that as a stop level, traders can time their long positions in the Nifty. A buy on dips strategy would be a prudent approach."

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