Dow Futures Dip More Than 80 Points, what does the future hold?

Share

After last week's roller-coaster ride on Wall Street, U.S. stock futures indicated gains in Monday trading. The Dow surged up 330.44 points or 1.4% to 24,190.90, the Nasdaq jumped 97.33 points or 1.4% to 6,874.49 and the S&P 500 shot up 38.55 points 1.5% to 2,619.55.

The Dow Jones average was up 231 points at 24,422 and the S&P 500 was up 20 points at 2,640.

Reuters has stated that the "trigger" could also be the data released by the government which showed wages rising at the fastest rate since 2009, with an annual increase of 2.9 per cent, sparking worries about inflation and higher interest rates and leading to a sharp rise in USA bond yields. On the other hand, Nasdaq composite and S&P 500 also increased.

Technology companies also rose.

Rob Haworth, a senior investment strategist at U.S. Bank Wealth Management, said the market's recovery from a negative start earlier in the session was a good sign, but that it remained too soon to predict the market's return to stability. The Dow swung in a relatively narrower trading range of about 450 points on Monday.

Isaiah Thomas got his powers back in Lakers debut
That will be brought in by the team's newest additions. "I am not too anxious about [what the role will be]", Thomas said. Thomas scored 22 points - more than in 14 of his 15 games with Cleveland this year - and handed out six assists.

Clothing brand Guess's stock (-5.25 percent) continues to plummet after supermodel Kate Upton accused co-founder Paul Marciano of sexual misconduct.

Out of the past 16 market corrections since 1976, only five occurred around a recession, according to Goldman Sachs.

Markets are expected to be closely focused on inflation figures out this week - in the United Kingdom on Tuesday and, particularly, in the U.S. the day after that. That will likely not be true going forward, they said. Trump also unveiled a plan to spend $1.5 trillion on the country's ailing infrastructure over the next decade. The U.S. consumer-price index will be released January and may reveal the extent the tighter jobs market is creating inflation.

Stocks were helped a little by Trump's budget proposal for fiscal 2019, which includes $200 billion for infrastructure spending, more than $23 billion for border security and immigration enforcement, as well as $716 billion for military programs, including the US nuclear arsenal.

Benchmark U.S. crude gained 62 cents, or 1 percent, to $59.82 a barrel in NY. Disney agreed to buy Fox's movie and television studios and some cable and worldwide TV businesses in December for about $52.4 billion in stock.

NY attorney general files lawsuit against Weinstein
The twice-married father of five is being investigated by British and U.S. police, but has not yet been charged with any crime. They said one employee flew from London to NY to teach his assistants "how to dress and smell more attractive" to Weinstein.

Twenty-First Century Fox picked up 67 cents, or 1.9 percent, to $36.40 after The Wall Street Journal reported that cable and internet provider Comcast is still interested in buying Fox's entertainment divisions and could make another offer. The yield on the 10-year Treasury was 2.858 percent on Monday, compared with 2.829 on Friday.

Amazon.com (NYSE:AMZN) ticked 2.04% higher to close at US$1.414.50 while Apple (NYSE:AAPL) gained 1.0%, closing at US$164.34.

CURRENCIES: The dollar slipped to 107.55 yen from 108.66 yen.

Gold rose $10.70 to $1,326.40 an ounce.

Petroleum-linked shares rose amid higher oil prices, with Halliburton winning 2.6 per cent, Schlumberger 2.5 per cent and Apache 2.4 per cent. Copper added 5 cents, or 1.7 percent, to $3.09 a pound.

Chipotle, Taco Bell Update Management Roles
Steven Ells, who founded the burrito chain in 1993 and will transition to an executive chairman role. Niccol replaced Creed as Taco Bell CEO when Creed became CEO of the parent company three years ago.

Share