AP News | |

Wall Street pumped the brakes on its recent rally Tuesday, as a late slide in big technology companies left stocks broadly lower, erasing an early gain.

The reversal left the S&P 500 with a 0.8% loss after having been up 0.6% earlier. The decline in big-name technology stocks like Apple and Microsoft, plus losses in health care and communications stocks, outweighed gains in financial, industrial and energy companies. Tech stocks have far outpaced the rest of the market this year as investors bet they could still thrive in a stay-at-home economy.

AP News | |

U.S. stock indexes closed mostly higher Monday, nudging the S&P 500 within striking distance of its all-time high set in February.

The S&P 500 rose 0.3% after wavering between small gains and losses in the early going. The benchmark index is now within 1% of its last record high.

The gains came on the first trading day since President Donald Trump announced several stopgap moves to aid the economy in response to the collapse of talks on Capitol Hill for a bigger rescue package.

David Nelson, CFA CMT | |

One look at any trader's stock monitor, and the numbers scream the obvious. Both risk-on and risk-off investments are working side by side in a market that has surprised both retail and institutional investors. On the heels of a pandemic and a market that fell 35% in just 23 trading days, gold, the ultimate safe haven, broke through an all-time high last seen in September 2011 and hasn't looked back.

AP News | |

Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy.

The S&P 500 inched up 2.12 points, or 0.1%, to 3,351.28 to eke out a sixth straight gain, after being down most of the day. It’s back within 1% of its record for the first time since February. The Dow Jones Industrial Average added 46.50, or 0.2%, to 27,433.48.

AP News | |

Stocks perked higher on Wall Street Thursday after a report showed the pace of layoffs across the country is slowing, though it remains incredibly high.

The S&P 500 rose 21.39, or 0.6%, to 3,349.16, as investors also waited for Congress and the White House to reach a hoped-for deal on more aid for the economy. It was the fifth straight gain for the index, which now hangs just 1.1% below its record set in February. Early in the spring, when panic about the pandemic was at its height, the S&P 500 had been down nearly 34%.

AP News | |

Wall Street’s big rally keeps rolling, and the S&P 500 rose for a fourth straight day Wednesday to sit just 1.7% below its record.

The S&P 500 climbed 21.26 points, or 0.6%, to 3,327.77, echoing gains for stocks across Europe and Asia. If the U.S. market has just a few more days like that, it will erase the last of the historic losses it’s taken since February because of the coronavirus pandemic and the recession it caused.

The Dow Jones Industrial Average rose 373.05, or 1.4%, to 27,201.52, and the Nasdaq composite added 57.23, or 0.5%, to set another record at 10,998.40.

AP News | |

U.S. stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator.

The S&P 500 rose 11.90 points, or 0.4%, to 3,306.51 after flipping between small gains and losses throughout the day. It’s the mildest move for the index in two weeks.

The Dow Jones Industrial Average climbed 164.07 points, or 0.6%, to 26,828.47, and the Nasdaq composite added 38.37, or 0.4%, to close at another record, 10,941.17.

Reuters | |

U.S. private equity firm KKR & Co Inc said on Tuesday that its second-quarter distributable earnings were flat year-on-year, beating many analysts’ expectations amid a rise in management and performance fees.

KKR said after-tax distributable earnings (DE) of $326 million was in line with the $327 million posted a year earlier. This translated to after-tax DE per share of 39 cents, which was greater than the 36 cents that Wall Street analysts esti...

AP News | |

Stocks started August with more gains, and a worldwide rally on Monday sent Wall Street back to where it was just a couple days after it set its record earlier this year.

The S&P 500 tacked 0.7% more onto its four-month winning streak, and Big Tech once again led the way. The index rose 23.49 points to 3,294.61 to get within 3% of its record for the first time since February.

The Dow Jones Industrial Average rose 236.08 points, or 0.9%, to 26,664.40. The gains for tech stocks, particularly Microsoft and Apple, pushed the Nasdaq composite up 157.52, or 1.5%, to 10,902.80, another record.

David Nelson, CFA CMT | |

Last week capped off another powerful month for the broad indices setting up a potential challenge to the all-time S&P high set in February. Of course, the Nasdaq is already there in large part powered by the 5 largest companies (Apple, Microsoft, Amazon, Alphabet and Facebook) that all hit highs in July even if they didn't close there.

With the top five stocks representing 23% of the market cap and just 16% of earnings investors have a right to be nervous asking if there's too much concentration in ...