All ETF Daily News Articles

U.S. dollar gains after Federal Reserve Chairman Powell’s remarks

stock ticker board
From Rita Nazareth, Vildana Hairic, Sarah Ponczek: U.S. stocks fell with Treasuries, while the dollar advanced as the Federal Reserve pushed back on market expectations that its next move would be a rate cut.
NYSE:UUP May 1, 2019 5:57pm

Dow Jones Industrial Average falls 160 points after the Fed says no need to cut rates

dow jones
From Fred Imbert: Stocks fell on Wednesday after the top-ranking Federal Reserve official hinted that lower rates may not be in the cards.
INDEXDJX:.DJI May 1, 2019 5:54pm

Tim Cook, CEO of Apple, is optimistic about the Chinese economy

From Elizabeth Schulze: Apple CEO Tim Cook says he is a lot more bullish on China than he was three months ago -- and he's not the only one.
NYSE:FXI May 1, 2019 3:40pm

As volatility in cannabis stocks decreases, is now the time to buy?

cannabis bush
From Shoshanna Delventhal:
NYSE:MJ May 1, 2019 3:24pm

Healthcare stocks: are they good risk/reward investments?

From Keith Speights: This time, it's different. 
NYSE:XLV May 1, 2019 3:15pm

Oil trades lower after weekly EIA report shows increased stockpiles

From Jessica Resnick-Ault: NEW YORK (Reuters) - U.S. crude stockpiles, including Gulf Coast inventories, rose last week to their highest since September 2017 as production set a new record high, imports rose while refining rates fell, the Energy Information Administration said on Wednesday.
NYSE:USO May 1, 2019 2:39pm

Sales of luxury home see largest decline in 9 years

From Diana Olick : The nation's priciest properties are in far less demand this year, and that is taking a toll on their values. Sales of homes listed at $2 million and above fell 16% in the first quarter, the sharpest annual decline since 2010, according to Redfin, a real estate brokerage. This as the supply of those homes rose 14%, marking four straight quarters of annual increases in inventory.
NYSE:XHB May 1, 2019 2:34pm

The S&P 500 experiencing the best start to the year, in 32 years

From Pippa Stevens: The stock market is red hot right now.
INDEXSP:.INX May 1, 2019 2:28pm

What’s keeping silver prices from moving higher?

From Safehaven: The Commerce Department says the  U.S. economy expanded 3.2 percentduring the first quarter, the best beginning to a year since 2015 and considerably better than the consensus for 2.5 percent. And while gold prices were volatile in Friday's session after stronger-than-expected headline GDP numbers came out, it's an unexpected development that could be a game-changer for precious metals.
NYSE:SLV May 1, 2019 2:21pm

Palladium sees its largest price drop in 2 years

palladium bars
From Reuters: Palladium on Monday slumped about 7 percent, its biggest daily percentage drop in over two years, while gold also fell as strong U.S. data improved investors' appetite for riskier assets ahead of the U.S. Federal Reserve policy meeting.
NYSE:PALL April 30, 2019 2:57pm

3 factors affecting the price of oil in 2019

oil pump
From Frank Holmes:

1.Goodbye, Iran Oil Import Waivers. Hello, Higher Energy Prices?

NYSE:USO April 30, 2019 2:53pm

Investor Paul Meeks says technology rally has gone too far, too fast

technology stocks
From Stephanie Landsman:
NASDAQ:QQQ April 30, 2019 2:50pm

Gold prices edge higher on weak Chinese data

gold bars
From Reuters : Gold prices edged up on Tuesday as disappointing Chinese factory activity data brought back concerns about the health of the global economy, denting risk appetite.
NYSE:GLD April 30, 2019 1:23pm

Oil prices edge higher on Saudi Arabia’s support for OPEC cuts

oil increase and decrease stock photo
From Reuters : Oil prices rose on Tuesday as Venezuela's opposition leader called on the military to back him to end Nicolas Maduro's rule and after Saudi Arabia said a deal between producers to withhold output could be extended beyond June to cover all of 2019.
NYSE:USO April 30, 2019 1:17pm

Morgan Stanley analyst issues a “mea culpa” after the S&P 500 rallies 17% in 2019

From Lu Wang:

(Bloomberg) -- Morgan Stanley’s Mike Wilson acknowledges he made the wrong call on the U.S. equity market this year. But that hasn’t dissuaded him from holding onto one of Wall Street’s most bearish forecasts.

With the S&P 500 Index at a record high after surging 17 percent this year, the firm’s chief U.S. equity strategist issued a mea culpa Monday, saying he underestimated a rally that’s been driven in large part by the Federal Reserve’s dovish tilt. Rather than revisiting the 2018 trough, as Wilson had predicted in January, stocks have kept marching higher.

It's the second time in seven months that Wilson has owned up to an overly pessimistic prediction. Last September, he said his early call for a correction amounted to the same thing as not being right. A few weeks later, stocks began a sell-off that ultimately took the S&P 500 to the brink of a bear market.

Still, Wilson is sticking by his longer-term outlook for the market. Even though this year's rebound has pushed the S&P 500 about 7 percent above his year-end target of 2,750, fundamentals just don't support the market's current levels, according to his analysis.

"We have to acknowledge our error and decide if the market is telling us something and if we should raise our targets," Wilson wrote. "The short answer is no because valuations are full and we still see downside risk to the consensus earnings estimates over the next 12 months."

At 17 times forecast earnings, the S&P 500 is trading at a multiple that's 14 percent higher than its 10-year average, data compiled by Bloomberg show. While first-quarter earnings have come in better than expected, analysts have continued to lower estimates for coming quarters. The expected rate of growth for the current quarter just turned negative.

While the size of predicted declines is small, any deterioration would raise the odds for an earnings recession, a scenario that Wilson predicts for this year. Despite the unfavorable profit backdrop, speculation that the Federal Reserve would lower interest rates and optimism that a China-U.S. trade agreement will be reached have continued to lift the market.

The S&P 500 could rise to 3,000, about 2 percent above its current level, on the announcement of a trade deal, but that should be seen as a sell signal, according to the strategist. Despite growing talk about a market melt-up, investors shouldn't chase the rally, he said.

Morgan Stanley defines a market melt-up as a period when the S&P 500's price-to-earnings ratio moves to high levels versus its recent past very quickly. The firm identified six instances over the past three decades that fit the criteria and found they shared something in common: they're either accompanied by monetary or fiscal stimulus.

While the Fed has tilted more market friendly, Wilson suggested the current environment lacks other elements that would embolden a melt-up, such as a weaker dollar, better growth outlook and a potential uptick in consumer confidence. In particular, companies such as Amazon.com Inc. and Facebook Inc. have cut capital spending while small-caps and cyclical shares have trailed the market, all evidence pointing to subdued growth prospects.

"The positive spin is that maybe last week's spike is like the spike in early January 2018 and we still have another spike to look forward to as people decide they have to pile in," Wilson wrote. "Use at your own peril, but our advice is to not bet on it at this stage because the fundamental conditions are different from past periods that exhibited such exuberance."


The SPDR S&P 500 ETF Trust (SPY) fell $0.26 (-0.09%) in after-hours trading Monday. Year-to-date, SPY has gained 10.56%. SPY currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #1 of 154 ETFs in the Large Cap Blend ETFs category.
This article is brought to you courtesy of Yahoo! Finance .
NYSE:SPY April 29, 2019 5:23pm

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