Latest news with #LongbowAssetManagement
West Australian
01-06-2025
- Business
- West Australian
S&P 500 ends near flat but posts big monthly pct gain
The S&P 500 ended a volatile session little changed on Friday as US President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023. The Nasdaq also registered its biggest monthly percentage gain since November 2023. May was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April lows. On Friday, all three major stock indexes opened lower after Trump accused China on his Truth Social platform of breaching a trade agreement with the US and issued a new veiled threat to get tougher with Beijing. But the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. Strategists said the constant stream of tariff news is unnerving. Investors "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening." The Dow Jones Industrial Average rose 54.34 points, or 0.13 per cent, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01 per cent, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32 per cent, to 19,113.77. The S&P 500 also finished Friday with a weekly gain that lifted it less than 4.0 per cent from its February all-time high. The benchmark index rose about 6.2 per cent in May, while the Nasdaq surged 9.6 per cent for the month. "February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide said. While the effective US tariff on imports was 2.0 per cent to 3.0 per cent before Trump took office, it stands at about 15 per cent, according to Oxford Research estimates. This would have been lowered to about 6.0 per cent by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for now. Investors on Friday also digested data showing US consumer spending increased 2.1 per cent year-on-year in April after advancing 2.3 per cent in March. The Federal Reserve tracks the PCE price measures for its 2.0 per cent inflation target. Traders maintained bets that the US central bank would cut its target for short-term borrowing costs in September. On the earnings front, shares of Ulta Beauty jumped 11.8 per cent after the cosmetics retailer raised its annual profit forecast after beating quarterly results. Declining issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the NYSE. On the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 ratio. Volume on US exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Perth Now
01-06-2025
- Business
- Perth Now
S&P 500 ends near flat but posts big monthly pct gain
The S&P 500 ended a volatile session little changed on Friday as US President Donald Trump slammed China before sounding upbeat about reaching a trade deal, but the benchmark index tallied its biggest monthly increase since November 2023. The Nasdaq also registered its biggest monthly percentage gain since November 2023. May was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April lows. On Friday, all three major stock indexes opened lower after Trump accused China on his Truth Social platform of breaching a trade agreement with the US and issued a new veiled threat to get tougher with Beijing. But the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and tariffs. Strategists said the constant stream of tariff news is unnerving. Investors "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening." The Dow Jones Industrial Average rose 54.34 points, or 0.13 per cent, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01 per cent, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32 per cent, to 19,113.77. The S&P 500 also finished Friday with a weekly gain that lifted it less than 4.0 per cent from its February all-time high. The benchmark index rose about 6.2 per cent in May, while the Nasdaq surged 9.6 per cent for the month. "February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide said. While the effective US tariff on imports was 2.0 per cent to 3.0 per cent before Trump took office, it stands at about 15 per cent, according to Oxford Research estimates. This would have been lowered to about 6.0 per cent by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for now. Investors on Friday also digested data showing US consumer spending increased 2.1 per cent year-on-year in April after advancing 2.3 per cent in March. The Federal Reserve tracks the PCE price measures for its 2.0 per cent inflation target. Traders maintained bets that the US central bank would cut its target for short-term borrowing costs in September. On the earnings front, shares of Ulta Beauty jumped 11.8 per cent after the cosmetics retailer raised its annual profit forecast after beating quarterly results. Declining issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the NYSE. On the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 ratio. Volume on US exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Time of India
31-05-2025
- Business
- Time of India
US Stocks: S&P 500 ends near flat but posts biggest monthly percentage gain since November 2023
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT NEW YORK - The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal , but the benchmark index tallied its biggest monthly increase since November Nasdaq also registered its biggest monthly percentage gain since November was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April Friday, all three major stock indexes opened lower after Trumpaccused China on his Truth Social platform of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and said the constant stream of tariff news is "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening."The Dow Jones Industrial Average rose 54.34 points, or 0.13%, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01%, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32%, to 19, S&P 500 also finished Friday with a weekly gain that lifted it less than 4% from its February all-time high. The benchmark index rose about 6.2% in May, while the Nasdaq surged 9.6% for the month."February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide the effective U.S. tariff on imports was 2% to 3% before Trump took office, it stands at about 15%, according to Oxford Research estimates. This would have been lowered to about 6% by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for on Friday also digested data showing U.S. consumer spending increased 2.1% year-on-year in April after advancing 2.3% in March. The Federal Reserve tracks the PCE price measures for its 2% inflation maintained bets that the U.S. central bank would cut its target for short-term borrowing costs in the earnings front, shares of Ulta Beauty jumped 11.8% after the cosmetics retailer raised its annual profit forecast after beating quarterly issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 on U.S. exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
Time of India
31-05-2025
- Business
- Time of India
S&P 500 ends near flat but posts biggest monthly percentage gain since November 2023
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW YORK - The S&P 500 ended a volatile session little changed on Friday as U.S. President Donald Trump slammed China before sounding upbeat about reaching a trade deal , but the benchmark index tallied its biggest monthly increase since November Nasdaq also registered its biggest monthly percentage gain since November was a choppy month for stocks as Trump's erratic trade policies kept investors on edge, but his softening tariff stance, along with upbeat earnings and tame inflation data, helped the S&P 500 rebound from its April Friday, all three major stock indexes opened lower after Trumpaccused China on his Truth Social platform of breaching a trade agreement with the U.S. and issued a new veiled threat to get tougher with the market pared losses as Trump said on Friday afternoon he will speak to China's President Xi Jinping and hopefully work out their differences on trade and said the constant stream of tariff news is "don't know how to react to tariff" news at this point, said Jake Dollarhide, CEO of Longbow Asset Management in Tulsa, Oklahoma. "The news cycle is maddening."The Dow Jones Industrial Average rose 54.34 points, or 0.13%, to 42,270.07. The S&P 500 lost 0.48 points, or 0.01%, at 5,911.69 and the Nasdaq Composite fell 62.11 points, or 0.32%, to 19, S&P 500 also finished Friday with a weekly gain that lifted it less than 4% from its February all-time high. The benchmark index rose about 6.2% in May, while the Nasdaq surged 9.6% for the month."February, March and April was one of the worst three-month periods since COVID, so we needed some gains," Dollarhide the effective U.S. tariff on imports was 2% to 3% before Trump took office, it stands at about 15%, according to Oxford Research estimates. This would have been lowered to about 6% by a trade court ruling, but an appeals court's emergency stay has kept the higher rate in place for on Friday also digested data showing U.S. consumer spending increased 2.1% year-on-year in April after advancing 2.3% in March. The Federal Reserve tracks the PCE price measures for its 2% inflation maintained bets that the U.S. central bank would cut its target for short-term borrowing costs in the earnings front, shares of Ulta Beauty jumped 11.8% after the cosmetics retailer raised its annual profit forecast after beating quarterly issues outnumbered advancers by a 1.14-to-1 ratio on the NYSE. There were 94 new highs and 62 new lows on the the Nasdaq, 1,849 stocks rose and 2,651 fell as declining issues outnumbered advancers by a 1.43-to-1 on U.S. exchanges was 19.34 billion shares, compared with the roughly 18 billion average for the full session over the last 20 trading days.
CNA
22-05-2025
- Business
- CNA
Treasury yields slip, US stocks rise with tech; investors assess US tax bill
NEW YORK/LONDON :Thirty-year U.S. yields reached their highest level in 19 months before easing on Thursday, with worries lingering over the U.S. fiscal outlook and demand for government debt, while Wall Street stocks edged higher with gains in tech-related shares. The U.S. dollar strengthened after recent losses. The U.S. House of Representatives passed President Donald Trump's tax bill by a single vote, adding to worries about the country's debt load. The bill would deliver new tax breaks on tips and car loans and boost spending on the military and border enforcement. Moody's late last week became the last of the major credit rating agencies to strip the U.S. of its coveted triple-A status. Thirty-year U.S. yields were last down 3.2 basis points at 5.0573 per cent. Soft demand for a $16 billion sale of 20-year bonds on Wednesday increased concerns about reduced interest in U.S. debt. Earlier, benchmark German 20-year yields reached their highest in two months. U.S. stocks were higher on Thursday after falling sharply in the previous session. "It's amazing how resilient this (stock) market can be... given all of the uncertainty and potential bad news out there," said Jake Dollarhide, chief executive of Longbow Asset Management in Tulsa, Oklahoma. "Tech is the market's security blanket at this point." The Dow Jones Industrial Average rose 51.28 points, or 0.12 per cent, to 41,912.24, the S&P 500 was up 8.79 points, or 0.15 per cent, at 5,853.45 and the Nasdaq Composite gained 118.49 points, or 0.63 per cent, to 18,990.84. Shares of Alphabet climbed 2.5 per cent, with the communication services sector up 0.9 per cent. MSCI's gauge of stocks across the globe fell 1.92 points, or 0.22 per cent, to 872.01. The pan-European STOXX 600 index slipped 0.72 per cent. Britain's government borrowed more than expected in April, figures showed, while euro zone business activity unexpectedly slipped back into contraction territory. The euro stumbled after the data, while the U.S. dollar rose after three days of losses. The euro was down 0.44 per cent at $1.1279. In late morning trading in New York, the dollar edged up 0.1 per cent to 143.75 yen after earlier dropping to 142.80, its weakest level since May 7. Bitcoin, meanwhile, rose again to an all-time high, partly as investors sought out alternatives to U.S. assets. The non-partisan Congressional Budget Office estimates Trump's tax-cut bill will add $3.8 trillion to the $36.2 trillion in U.S. debt over the next decade. A report that OPEC+ is discussing a production increase for July weighed on oil prices.
