33 Recent Stories Telling How The Financial Markets Are Doing Today

1. U.S. Stock Market:

 

“U.S. stocks pulled back on Tuesday after the S&P 500 and the Nasdaq Composite hit record intraday highs as a decline in healthcare stocks offset gains in technology. At 12:41 p.m. ET, the Dow Jones Industrial Average .DJI was up 12.53 points, or 0.06 percent, at 20,994.47. The S&P 500 .SPX was down 0.77 points, or 0.03 percent, at 2,401.55, easing from an all-time high of 2,405.77. The Nasdaq Composite .IXIC was up 11.70 points, or 0.19 percent, at 6,161.37, after touching a record of 6,162.71.”

(Reuters)

“U.S. stocks struggled for direction Tuesday, shifting between slight gains and losses after reaching record levels, as the latest bout of political uncertainty in the U.S. was seen as a headwind that could limit the market’s advance. The Dow Jones Industrial Average DJIA, -0.06%  rose 5 points, or less than 0.1%, to 20,986. The S&P 500 index SPX, -0.16%  slipped 2 points, or less than 0.1%, to 2,401. Earlier in the session, the benchmark eked out an all-time intraday high of 2,405.77. Meanwhile, the Nasdaq Composite Index COMP, +0.14%  was setting intraday records over the session and last traded up 14 points to 6,163.”

(Market Watch)

 

“U.S. stock index futures edged higher Tuesday as investors weighed the impact of the latest Trump controversy. The Dow futures was up 0.17% at 08:15 ET. The DJI closed up 0.41% overnight. The S&P 500 futures added 0.09%, while the tech-heavy Nasdaq 100 futures gained 0.13% after record closes.”

(Investing.com)

2. U.S. Bond Market:

 

“U.S. government debt prices held lower on Tuesday as investors parsed through disappointing housing data. The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 2.352 percent, while the yield on the 30-year Treasury bond was also higher at 3.018 percent.”

(CNBC)

 

“The U.S. Treasuries traded slightly lower as investors remained sidelined in the absence of major trading activity amid a mild session that witnessed data of little economic significance. The yield on the benchmark 10-year Treasury rose nearly 1 basis point to 2.34 percent, the super-long 30-year bond yields also gained almost 1 basis point to 3.01 percent and the yield on short-term 2-year note traded flat at 1.30 percent.”

(EconoTimes)

“U.S. Treasury yields fell on Tuesday after data showing U.S. homebuilding unexpectedly fell in April, adding to recent economic weakness that has raised new doubts over how many times the Federal Reserve will raise interest rates this year. Benchmark 10-year notes were last down 2/32 in price to yield 2.35 percent, down from 2.36 percent before the data.”

(Reuters)

 

3. FX Markets:

 

“The dollar is tumbling on Tuesday. The US dollar index is down by 0.4% at 98.46 as of 7:48 a.m. ET. The euro is up by 0.7% at 1.1055 against the dollar — its highest level in six months. This is the first time the currency has climbed over 1.10 since the US presidential election in November. Separately, eurozone Flash GDP posted an in line print of up 0.5% for the first quarter. The British pound is down by 0.2% at 1.2875 against the dollar. Earlier, data showed British CPI rose 2.8% year-over-year in April, its fastest pace since 2013. The Japanese yen is little changed at 113.69 per dollar.”

(Business Insider UK)

 

“The dollar slumped against its major currency rivals Tuesday, after reports President Donald Trump shared classified information with top Russian officials at a meeting last week. Against the yen USDJPY, -0.27% the dollar fell to ¥113., from ¥113.79 on Monday. The euro EURUSD, +0.8656% jumped 0.9% to $1.1073 on Tuesday, up from $1.0975 late Monday in New York, to reach its highest level since early November. In other currencies, the pound GBPUSD, +0.0310% erased an earlier gain after U.K. inflation data showed consumer prices rose 2.7% in April, more than the 2.5% expected. Sterling bought $1.2899, compared with $1.2895 late Monday in New York.”

(Market Watch)

“The dollar fell to six-month lows against a basket of the other major currencies on Tuesday as fresh concerns over the Trump administration and a slate of weak U.S. housing data weighed. The euro extended early gains, rising to seven-month peaks with EUR/USD jumping 0.97% to 1.1080. Against the yen, the dollar was lower, with USD/JPY down 0.3% to 113.44. The pound was almost unchanged against the dollar, with GBP/USD at 1.2895.”

(Investing.com)

 

4. Commodities:

 

“Oil prices held on to their gains on Tuesday, supported by continued hopes that major oil producers will extend production cuts until early next year in a bid to reduce global inventories. Brent crude, the global oil benchmark, rose 0.83% to $52.26 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.90% at $49.28 a barrel.”

(Fox Business)

 

“Gold and silver prices are modestly higher in early U.S. trading Tuesday. Early this week the outside markets are in a bullish posture for the precious metals, as the U.S. dollar index is slumping and crude oil prices are rallying. June Comex gold was last up $4.80 an ounce at $1,234.80. July Comex silver was last up $0.137 at $16.74 an ounce.”

(Kitco News)

“Gold at 1234 is trading above its support at 1230. I remain Bearish Gold while it is trading below 1260, but chances of a short term bounce back toward interim resistance cannot be ruled out. Silver is expected to see 16.90 in here as the Devil’s Metal is highly oversold and Monday Silver at 16.63 made a intra-day high of 16.73. The bias remains Bearish while Silver is trading below 17.50. Copper at 2.52 saw resistance at 2.54. Only on a move above 2.55 can 2.60 can come into view. In the medium term 2.44 is strong support for now but a close below that could open up 2.40-35.”

(Live Trading News)

 

5. Market Movers:

Advanced Micro Devices, Inc. (NASDAQ:AMD) has climbed to up 7% out of today’s open after a report in tech site Fudzilla says it’s confirming that Intel (INTC -0.3%) is licensing AMD’s graphic chips after the expiration of Intel’s deal with Nvidia (NVDA -0.1%). The report’s short on detail, but says with the Intel-Nvidia deal having ended on March 17, “It is more likely that Intel has a license from AMD but neither company has officially announced it.” “If you are in Intel’s shoes, there are two options, Nvidia or AMD,” the report continues, and speculates that Radeon Technologies Group’s Raja Koduri has worked closely with Intel and likely played a role in negotiations.

(Seeking Alpha)

MannKind Corporation (NASDAQ:MNKD) is off to an incredible run in today’s trading session, and for good reason. The company will be holding an investor meeting soon, and at the moment, rumors are flying. Of course, this is leading to investor excitement, causing gains and prompting our partners at Trade Ideas to alert us to the movement. At the moment (11:39), MNKD is trading at $1.22 per share after a gain of $0.16 per share or 15.31% thus far today.

(CNA Finance)

Weibo Corp (ADR) (NASDAQ:WB) reported first quarter EPS of $0.26 Tuesday morning, up from $0.07 in the previous year. The consensus estimate was for EPS of $0.21. Weibo gapped open sharply higher Tuesday morning and is now up 10.17 at $73.07 on above average volume. The stock has been gaining ground for the past 3 weeks and has surged to a new high for the year.

(RTT News)

Akebia Therapeutics Inc (NASDAQ:AKBA) shares shot up Tuesday after it struck an exclusive license agreement with Vifor Pharma Group to sell lead candidate vadadustat, once approved, to Fresenius Medical Care dialysis clinics. The deal will provide vadadustat to Fresenius Medical Care in the USA when the FDA has approved it. Vadadustat is an oral, investigational hypoxia-inducible factor (HIF) stabilizer currently in Phase 3 development for the treatment of anemia related to chronic kidney disease. Shares in Akebia are up over 14% at the time of writing, at $14.75.

(Proactive Investors)

SINA Corp (NASDAQ:SINA) reported first quarter EPS of $0.50 Tuesday morning, compared to the loss of $0.04 a year ago. Analysts expected EPS of $0.14. Sina gapped open higher Tuesday and has spiked to the upside in early trade. The stock is now up 12.10 at $96.14 on above average volume. Sina has been climbing for nearly a month and has soared to a new high for the year.

(RTT News)

Dick’s Sporting Goods Inc. (NYSE:DKS) reported its first-quarter financial results before the markets opened on Tuesday. The company said that it had $0.54 in earnings per share (EPS) and $1.8 billion in revenue, compared with consensus estimates from Thomson Reuters of $0.54 in EPS and revenue of $1.84 billion. In the same period of last year, the retailer posted EPS of $0.50 and $1.66 billion in revenue. Consolidated same-store sales increased 2.4%, compared to the company’s guidance of an approximate 3% to 4% increase. First-quarter 2016 consolidated same-store sales increased 0.5%.

(24/7 Wall St.)

Shares of Momo Inc. (NASDAQ:MOMO) are climbing higher mid-day as the stock reaches today’s top winners list. At the time of writing, the stock had reached $43.25. This represents a change from the opening price of 5.53%. The year-to-date performance of the stock is 118.23%. The monthly stock performance comes in at 5.05%. For the quarter, shares are performing at 57.91%. Weekly performance analysis shows the equity at 3.98%.Covering Sell-Side analysts have offered recommendations and price target estimates on Momo Inc. (NASDAQ:MOMO). According to First Call, the current consensus target price on shares is sitting at $40.46. Analysts have also given a consensus recommendation on the stock of 1.60.

(Aiken Advocate)

Shares of Twitter Inc (NYSE:TWTR) TWTR, +2.18% shot up 2% Tuesday after Twitter co-founder Biz Stone announced he is returning to the company. Stone worked at Twitter for six years and then went on to start Jelly, a question and answer app acquired by Pinterest, and Medium, a blogging site. Stone wrote in a blog post that he recently attended an afternoon meeting at Twitter and was asked by Twitter Chief Executive Jack Dorsey to come back to the company.

(Market Watch)

 

Etsy Inc (NASDAQ:ETSY) ETSY 23.37% shares are trading higher by $2.60 (23 percent) at $13.92 in Tuesday’s session. Investors are aggressively purchasing shares, as they appear to be encouraged by the company’s comments in a recent 13D filing that “reiterates confidence in strong foundation and significant growth opportunities.” Separately, Dragoneer Investment Group reported a 3.7 percent stake in the company. After much higher open, Etsy had only a 3-cent retreat to $12.87 before continuing its move higher. It has continued to make new highs for the session, with the current one standing at $14.11 as of 1:35 p.m. EST.

(Benzinga)

 

Shares of BlackBerry Ltd (NASDAQ:BBRY) are higher after Macquarie analyst Gus Papageorgiou laid out a case for the shares getting to $45. BlackBerry in midday trading is up 7%, or 66c, to $10.30. Papageorgiou, in a research note to investors last night, said it is “not hard to see” BlackBerry earning $2B of software revenue and $1.82 per share of earnings by its fiscal year 2020. The analyst assumes the company starts FY20 with 500,000 RADAR units in service, moving to 1.5M and averaging 1M units in service for the year at $20 per month and selling 1M hardware units at 50% gross margin. RADAR is an asset tracking device mounted to a trailer.

(The Fly)

The stock of Virtusa Corporation (NASDAQ:VRTU) is a huge mover today! About 1.33M shares traded or 195.80% up from the average. Virtusa Corporation (NASDAQ:VRTU) has risen 32.78% since October 6, 2016 and is uptrending. It has outperformed by 22.13% the S&P500.The move comes after 5 months negative chart setup for the $871.55 million company. It was reported on May, 16 by Barchart.com. We have $26.74 PT which if reached, will make NASDAQ:VRTU worth $43.58M less.

(High Point Observer)

The stock of Baozun Inc (ADR) (NASDAQ:BZUN) reached all time high today, May, 16 and still has $23.97 target or 9.00% above today’s $21.99 share price. This indicates more upside for the $1.16B company. This technical setup was reported by Barchart.com. If the $23.97 PT is reached, the company will be worth $104.40M more. About 1.53M shares traded or 27.50% up from the average. Baozun Inc (ADR) (NASDAQ:BZUN) has risen 16.16% since October 6, 2016 and is uptrending. It has outperformed by 5.51% the S&P500.

(Bibey Post)

 

Shares of Vipshop Holdings Limited (NYSE:VIPS) are experiencing unusual volume during today’s trading.  While the stock price moved along with the volume change, shares are touching $14.39 at the time of writing.  The day’s total volume of 10995557 this morning is in contrast from the three-month daily average of 5013.85K.  When we divide the current volume by the three-month average volume, we get a relative volume of 3.65. Vipshop Holdings Limited (NYSE:VIPS)‘s market cap, the total dollar value of all of their outstanding shares, is 8427.11m.  Including today’s unusual volume, Vipshop Holdings Limited‘s stock is performing at 34.24% on the year.

(The Hiram Herald)

The stock of Zynga Inc (NASDAQ:ZNGA) is a huge mover today! About 12.29M shares traded or 15.29% up from the average. Zynga Inc (NASDAQ:ZNGA) has risen 13.70% since October 6, 2016 and is uptrending. It has outperformed by 3.05% the S&P500.The move comes after 5 months positive chart setup for the $3.06B company. It was reported on May, 16 by Barchart.com. We have $3.69 PT which if reached, will make NASDAQ:ZNGA worth $183.60M more.

(Wolcott Daily)

 

6. Interesting Reads

 

“Most people can safely take in about 400 milligrams of caffeine daily or about 4 cups of coffee,” according to Robert Glatter, an emergency physician at Lenox Hill Hospital in New York City. But the limit varies from person to person, Maggie Sweeney, a postdoctoral research fellow at Johns Hopkins School of Medicine’s department of psychiatry. “For adults it would be uncommon to experience effects of caffeine intoxication at less than 250 milligrams of caffeine (or 2.5 cups of coffee),” she said. “…It would typically be more than 12 ounces, but much more common to have the negative effects with greater than 500 milligrams of caffeine.”

(USA Today)

“Does your personality change when you become intoxicated? Not as much as you think — many of the mood and behavioral changes following alcohol intake may not be as apparent to other people, a new study reveals. Conducted by a team from University of Missouri, the research found that while drinkers may find a difference between their sober and drunk selves, people surrounding them actually describe that the two personalities are quite similar.”

(Tech Times)

“They shot, and some scored. The Twin Cities (Minneapolis-St. Paul, Minnesota) have stripped the District of Columbia of its title as America’s fittest metro area, according to new rankings released today. The American College of Sports Medicine and the Anthem Foundation are out with their annual American Fitness Index, which ranks the fittest metro areas in the U.S. The District of Columbia has reigned fittest for the last three years. Not anymore. More than 20 health and physical activity experts, along with the American College of Sports Medicine and the Indiana University School of Family Medicine, created the methodology for the report, which analyzed data from the U.S. Census and the Centers for Disease Control and Prevention’s Behavioral Risk Factor Surveillance System, in addition to other metrics.”

(U.S.News)

“The WannaCry cyberattack has ensnared more than 300,000 computers in 150 countries by taking advantage of outdated versions of Windows that never got Microsoft’s crucial security patches. Hmm. Millions of devices that are stuck on older versions of an operating system and don’t have access to the latest updates. Where have I heard that one before? That is, after all, one of the key problems with Android. Only 7.1 percent of its 1 billion users are on Nougat, better known as Android 7.0, the latest version of the mobile operating system. Nearly a third run on Android KitKat or older — versions that came out more than three years ago.”

(CNET)

“OK, I’ll say it: Buying clothes online still sucks. Unless you’re buying something from a brand you already own and know the sizing of, it’s nearly impossible to get the fit right on the first try. This is why people often buy two sizes and return one, or just skip clothing e-commerce all together and head into the store to try it on in person. The result is either high shipping and return costs for the retailer or a missed sale entirely — basically a lose-lose situation. Enter Savitude, a startup that wants to make sure the clothes you buy will not only fit you, but also look good with your body shape.”

(Tech Crunch)

“If you want your child to start thinking in the direction of the computer science, you are in the right place because here we will show you which are the 6 free coding websites for kids and why your child needs to start expanding this knowledge. Back in the day, the world required different knowledge and skills. The world needed soldiers, watchmakers, cashiers, postal workers, but today, the world is in a great need of computer programmers, and it is still developing in that direction. Today knowing how to code is the fundamental skill and if you want your child to have a great education and job in the future, to have everything they need, in a world where everything is programmed, isn’t learning computer science the best way to achieve that?”

(Insider Monkey)

“Keep reading to learn more about our list of museum sleepovers for kids and adults in NYC. If you’ve ever dreamed about bringing your entire family to an extremely unique staycation destination, look no further. From enjoying live jazz music alongside gigantic dinosaur fossils, to getting a morning wakeup call from some peacocks, a museum sleepover might be the most genius thing we’ve ever heard of happening in NYC today. New York City is known for its museum culture. With such a rich history and so many diverse neighborhoods, there is a new exhibit to explore and learn wherever you look. Some of my absolute favorite museum experiences in our beautiful city are the Metropolitan Museum of Art (or The Met, as it is affectionately known) and The Cloisters (a lesser-explored annex of The Met).”

(Insider Monkey)