We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Benchmarks ended in the negative territory on Monday as investors kept a close watch on the U.S.-China trade deal as the Dec 15 deadline to impose higher tariffs on Chinese products close in.
The Dow Jones Industrial Average (DJI) dropped 75.84 points, or 0.3%, to close at 27,939.22. The S&P 500 fell 4.02 points, or 0.1%, to close at of 3,141.89. Meanwhile, the Nasdaq Composite Index closed at 8,643.99, falling 12.54 points, or 0.1%. The fear-gauge CBOE Volatility Index (VIX) increased 16% to close at 15.68. Advancing issues outnumbered decliners on the NYSE by a 1.17-to-1 ratio. On Nasdaq, declining issues outnumbered advancers for a 1.13-to-1 ratio.
How Did the Benchmarks Perform?
Major indexes snapped the three-day winning session on Monday as Dec 15 tariff imposing deadline creates leaves investors sentiments gloomy. However, the losses on Monday landed all the three benchmarks less than 1% of their closing highs, on Nov 27.
Overall, the S&P index recorded 23 new 52-week highs and one new low, while the Nasdaq recorded 80 new highs and 44 new lows.
Dec 15 Deadline Creates Fresh Tension
Trade talks are in progress between the United States and China, but, while they continue to squabble over key details, investors become restless looking for signs of positive outcomes. Moreover, this additional 15% import duties on $156 billion of annual consumer imports will set in from Dec. 15 if the phase one deal is not signed soon.
During Monday’s session, investors kept waiting for more positive gestures from both America and China but lack of news on the trade front brewed fresh tensions as risk of tariff imposition increases.
Another factor that instilled fear was, economic reports from China indicated that China’s exports dropped 1.1% in November from a year earlier. This shrinkage in export is the fourth consecutive month drop amidst the protracted trade war that has created consistent pressures on manufacturers.
Things to Watch Out this Week
On Dec 9, the U.S. House of Democrats reached a tentative agreement with the White House and labor leaders to rewrite the U.S.-Mexico-Canada trade deal. Per a Democratic aide, no one has been authorized to discuss the talks and granted anonymity.
This new trade agreement would replace North American Free Trade agreement which eliminated several tariffs and other trade barriers involving the United States, Mexico and Canada. Updates on this trade pact can be released by Dec 18.
On the other hand, the Federal Open Market Committee’s two-day policy meeting begins on Tuesday, and investors keep a close watch for central bank’s long-term outlook for interest rates.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
Image: Bigstock
Stock Market News for Dec 10, 2019
Benchmarks ended in the negative territory on Monday as investors kept a close watch on the U.S.-China trade deal as the Dec 15 deadline to impose higher tariffs on Chinese products close in.
The Dow Jones Industrial Average (DJI) dropped 75.84 points, or 0.3%, to close at 27,939.22. The S&P 500 fell 4.02 points, or 0.1%, to close at of 3,141.89. Meanwhile, the Nasdaq Composite Index closed at 8,643.99, falling 12.54 points, or 0.1%. The fear-gauge CBOE Volatility Index (VIX) increased 16% to close at 15.68. Advancing issues outnumbered decliners on the NYSE by a 1.17-to-1 ratio. On Nasdaq, declining issues outnumbered advancers for a 1.13-to-1 ratio.
How Did the Benchmarks Perform?
Major indexes snapped the three-day winning session on Monday as Dec 15 tariff imposing deadline creates leaves investors sentiments gloomy. However, the losses on Monday landed all the three benchmarks less than 1% of their closing highs, on Nov 27.
Trade bellwethers like Apple Inc. (AAPL - Free Report) , a Zacks Rank #3 (Hold) company saw share prices slide 1.4% amidst rising tariff imposition worries. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Overall, the S&P index recorded 23 new 52-week highs and one new low, while the Nasdaq recorded 80 new highs and 44 new lows.
Dec 15 Deadline Creates Fresh Tension
Trade talks are in progress between the United States and China, but, while they continue to squabble over key details, investors become restless looking for signs of positive outcomes. Moreover, this additional 15% import duties on $156 billion of annual consumer imports will set in from Dec. 15 if the phase one deal is not signed soon.
During Monday’s session, investors kept waiting for more positive gestures from both America and China but lack of news on the trade front brewed fresh tensions as risk of tariff imposition increases.
Another factor that instilled fear was, economic reports from China indicated that China’s exports dropped 1.1% in November from a year earlier. This shrinkage in export is the fourth consecutive month drop amidst the protracted trade war that has created consistent pressures on manufacturers.
Things to Watch Out this Week
On Dec 9, the U.S. House of Democrats reached a tentative agreement with the White House and labor leaders to rewrite the U.S.-Mexico-Canada trade deal. Per a Democratic aide, no one has been authorized to discuss the talks and granted anonymity.
This new trade agreement would replace North American Free Trade agreement which eliminated several tariffs and other trade barriers involving the United States, Mexico and Canada. Updates on this trade pact can be released by Dec 18.
On the other hand, the Federal Open Market Committee’s two-day policy meeting begins on Tuesday, and investors keep a close watch for central bank’s long-term outlook for interest rates.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>