Markets

Stocks and Bonds Go on Another Wild Ride Wednesday

Stocks and Bonds Go on Another Wild Ride Wednesday

And for a while Tuesday, the stock market hardly seemed like a secure place.

Among Bay Area Dow stocks, Intel shares rose 3 percent, to $46.21, Chevron was up by 1 percent, at $118.28 a share, Cisco Systems shares climbed 2.4 percent, to $41.13 and Visa was up by 2 percent, to $122.20. The tech-heavy Nasdaq composite fell 0.9 percent to 7,051.98. Mahoney says it may take a while for the market to return to normal. The euro was trading at $1.2384. "I'd characterize what we've seen over the past year as abnormal", said Sameer Samana, global equity and technical strategist at Wells Fargo Investment Institute in St. Louis. At its lowest point on Tuesday, the Dow was off 10.7 per cent from its Jan 26 record.

Asian shares saw a broad rebound on Wednesday, mirroring the bounce-back rally on Wall Street, though gains were in a modest range and most benchmarks gave up some gains after opening sharply higher.

Citro noted that Monday's Dow Jones decline of 1,175 points was really "no big deal" from a historic perspective.

USA stocks overturned early losses to trade higher on Wednesday as some buyers returned to a market still shaking from a record fall for the Dow Jones Industrial Average earlier this week. As a result, the biggest losses went to high-dividend companies such as utility and real estate companies whose stocks become less appealing than bonds to investors seeking income. Asia's bid for a recovery faltered late in that session, with the MSCI Asia Pacific Index nearly completely erasing a gain of as much as 2.4 percent. But the Dow is up 24 percent in the past 12 months and the S&P 500 has gained 18 percent. On Tuesday, major companies reported another round of strong profits, with General Motors, BP, Allergan, health-care companies and others beating analysts' expectations.

"For 22 years I've realized that investors love volatility only on the upside", Schlipman said.

In the last five days, the Dow is down 8 percent and the market drop has wiped out over a trillion dollars in value.

How much more time? He tweeted multiple times in 2017 when the Dow broke thousand-point milestones.

Start your workday the right way with the news that matters most.

What happened Monday on Wall Street was the biggest point drop ever and it ended with a 1,175 point deficit by close.

In the energy market, oil prices fell 2 percent.

Investors were weighing whether the sharp swings were the start of a deeper move down or just clearing the way before a resumption of the aging bull market, which would turn nine on March 9.

That brought relief to markets after a global sell-off began last week. On Tuesday, stocks opened sharply lower before recovering slightly and rebounding in late trading.

Stocks with constructive Volume Growth: Crown Castle International Corp. (REIT) (CCI)
CIBC restated a "market perform" rating on shares of Crown Castle International in a research report on Monday, October 16th. Nomura Holding stated it has 1.65 million shares. (NYSE:OKE) has "Hold" rating given on Monday, October 10 by Deutsche Bank.

"U.S. equities have performed remarkably well since March 2009".

He told Xinhua that investors are rebalancing their portfolios from US equities to more reasonably valued equity markets like China, Europe and emerging markets.

World stocks clawed off two-month lows on Wednesday, though momentum was weak and US futures suggested Wall Street could backslide again after rebounding from the biggest selloff in six years.

Japan's benchmark Nikkei 225 tumbled 2.6 percent and the South Korean Kospi shed 1.3 percent.

Wholesale gasoline lost 4 cents to $1.81 a gallon.

All industry categories on the main section retreated, with metal product, nonferrous metal, and rubber product-linked issues comprising those that declined the most by the close of play. "It's going to be a volatile ride for the next several trading sessions", said Chad Morganlander, portfolio manager at Washington Crossing Advisors in Florham Park, New Jersey.

Though a dip had been expected for a while, US losses seemed to spook global markets. The S&P 500 ended 6.2 percent below its January 26 peak. Volatility surged across the European market.

The Federal Reserve Bank of St. Louis President James Bullard tried to talk down inflation worry on Tuesday.

Asked whether the administration would take responsibility for downturns as well as increases in the stock market, Mnuchin said, "We'll still claim credit that it's up over 30 percent since the election".

Brent Schutte, chief investment strategist at Northwestern Mutual Wealth Management, said the plunge wasn't caused by inflation fears alone.

"That is not to say that we won't see further falls in coming days, but in an environment where growth is good and earnings are expected to rise globally, there are decent underpinnings", said James Knightley, chief global economist at ING.

Costa told Xinhua that he did not think the sell-off would change the trajectory of the stocks market of the year. "Tax cut is not going away", said Costa.


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