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Home / Business / Yahoo Finance Market Update: December 26, 2018

Yahoo Finance Market Update: December 26, 2018



US. Shares rose after the S & P 500 fell on Christmas Eve to maintain market levels.

The S & P 500 (^ GSPC) rose by 3.3% or 77.68 points (as of 3:16 pm). ET. The Dow (^ DJI) rose 3.2% or 697.77 points after adding more than 700 points at session high. The index is well on its way to releasing the best day-to-day Christmas session ever, based on data that goes back 90 years if it keeps these earnings to market. The Nasdaq (* IXIC) rose 4.19% or 258.9 points.

Stocks of technology giants were among the biggest winners during the Wednesday session. The combined earnings of Amazon (AMZN), Microsoft (MSFT), Apple (AAPL), Google (bonds, bonds), Facebook (FB) and Netflix (NFLX) alone during Wednesday's session totaled 164.6 billion market capitalization US dollars (as of 2:53) ET. Retail shares also picked up after it was reported that spending on holiday travel rose the most in six years this season.

At the end of Monday's session, the S & P 500 was 19.77% lower than its current high of 2,930.75. The index closed 20% lower against its intraday high of 2,940.91 in September, reaching the percentage decline from a recent peak many consider to define a bear market.

Currently, the stock price is trading in a seven-day period that often does – "Santa Claus Rally," an annual window in which stocks tend to rise. The event takes place on the last five trading days of the year until the first two trading days of the new year. The S & P 500 rose 1.7% on average and was up about 78% higher since 1928, Oppenheimer analysts write in a note on Wednesday. However, in the case of a failed Santa Claus rally, stock prices have lost an average of 1.2% over the next three months.

For the seven trading sessions just before the start of this year's Santa Claus rally on December 24, the S & P 500 began to decline by 8.83%.

December is indeed a tempo that belongs to one of the worst months for the S & P 500 in history, wrote Dan Suzuki of Richard Bernstein Advisors on Wednesday in a note. At the close on Monday, the S & P 500 fell by nearly 15% in December. Of the ten other cases where markets were weaker, seven occurred during the Great Depression, three took place after the Nazi invasion of France, one occurred during the market crash of 1987 and the last occurred during the financial crisis.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "" If you think so current fundamental background has the conditions for depression, the third world war or a significant financial crisis. Then the scale of the market sale is reasonable, "Suzuki said. " data-reactid = "22"> "If you believe that the current fundamental background is causing depression, the Third World War or a significant financial crisis The extent of the market sale may be appropriate, "Suzuki said.

Investors continue to digest the comments of President Donald Trump, who told reporters in the White House on Tuesday that he believes US companies have "record numbers" and that this is now a "tremendous opportunity to stock equities." US to buy "months of downturn. At current levels, the S & P 500 next year's price-to-earnings ratio is just over 13x its estimated earnings, making US equities the most attractive valuations in about five years, according to Bloomberg data.

Trump that he is "confident" that the US Federal Reserve will "make it pretty soon" when it comes to interest rates that the President believes have risen too fast. The comments helped quash concerns over the future of Fed Chairman Jerome Powell, who Trump has publicly struck at the Fed's interest rate hike.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "On Wednesday, White House Economic Advisor, Kevin Hassett told reporters that Powell's work is "100% secure." Even at the time that Trump was replayed, Bloomberg reported late last week that Trump had considered leaving Powell behind But Hassett's public assurances corroborate that of Finance Minister Steven Mnuchin, who writes Twitter earlier this week that Trump had "never suggested," he said. "Powell firing." Data-reactid = "25"> On Wednesday, White House economic adviser Kevin Hassett told reporters that Powell's work is "100% secure," even though Trump repeatedly flounders , Bloomberg reported late last week that Trump had considered ousting Powell as a result of the recent rate hike, which has contributed in part to market volatility. Hassett's public assurances, however, reflect those of Finance Minister Steven Mnuchin, who said in these Twitter posts earlier this week that Trump "never suggested shooting Powell".

Meanwhile, crude oil prices have risen after US West Texas crude oil Intermediate oil futures reached its lowest level since June 2017 on Monday. US crude oil prices (CL = F) rose 8.7% to $ 46.22 a barrel. Brent crude oil prices (BZ = F) rose 7.69% to $ 54.35 a barrel at 2:33 am. ET.

STOCKS: Shares rise as spending on holiday increases, Citron Research raises Facebook's price target

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – -sm Mt (0.8em) – sm "type =" text "content =" Retail shares rose after Mastercard (MA) reported that retail sales in the US between November 1 and December 24 was the strongest in six years According to a Mastercard SpendingPulse report, pre-Christmas holiday sales before Christmas rose 5.1% to over $ 850 billion, with online shopping up over the same period in 2017 by 19.1%, while the online sales growth of department stores increased rose alone by 10.2%, the shares of Target (TGT) rose 4% to $ 64.02, the shares of Walmart ( WMT) rose 3.73% to $ 89.02 and Macy's shares (M) rose 12.3% to hit 29.66 $ per share: 44 pm ET. The listed S & P fund XRT (XRT) increased 3.72% to $ 39.88 per share. "data-reactid =" 32 "> The retail shares rose after Mastercard (MA) reported that US retail sales were strongest in one year between November 1 and December 24 in six years MasterCard SpendingPulse Reports Up 5.1% to Over $ 850 Billion Online purchases grew 19.1% over the same period in 2017, while online department store sales grew 10.2% Target (TGT) shares rose 4% to $ 64.02, Walmart's (WMT) shares increased 3.73% to $ 89.02, and Macy's (M) shares rose 12:44 The listed S & P fund XRT (XRT) rose 3.72% to $ 39.88 per share.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) –sm "type =" text "content =" Facebook (FB) stocks climbed after Citron Research hit its target of the stock of previously 120 U SD raised to $ 160 per share. The new price target equates to about 30 The upside potential of Facebook on Monday rose by%. The research company said Wednesday in a report that "Facebook has never been so convincing for an investment," even as a number of corporate scandals hit the stock of the social media giant this year. The truth is sales and that more important user base has had little effect, "Citron wrote, especially when Facebook users were in Instagram, and Facebook's share rose 5.96% to $ 131.47 from 12:45 pm ET." data-reactid = "33"> Facebook (FB) shares climbed after Citron Research raised its share price target from $ 120 to $ 160 per share. The new price target equates to a plus of 30% over the closing price of Facebook on Monday. The research company said in a report Wednesday that "Facebook has never been so persuasive for an investment opportunity", even as a series of corporate scandals hit the social media giant's stock this year. "The truth is sales and a more important user base has had little effect," Citron wrote, especially as users embark on Facebook, which owns Facebook. Facebook shares rose 5.96% to $ 131.47 at 12:45. ET.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Investment company Needham called Roku (ROKU ) picked up a top stock pick for 2019, the digital streaming company's stock said the company had a strong position in a growing streaming market and Roku reached 24 million third-party active users Needham analyst Laura Martin rates Roku's stock with a target price of $ 45 as its purchase price, with Roku's shares rising 8.65% to $ 29.52 each from 13:53 ET "data-reactid =" 34 "> Needham named Roku (ROKU) as one of the top stock picks for 2019, which propelled shares in the digital streaming company . The company said it has a strong position in a growing streaming market. Roku reached 24 million active users in the third quarter. Needham analyst Laura Martin rates Roku's stock with a target price of $ 45. Roku shares rose 8.65% to $ 29.52 at 13:53. ET.

<p class = "Canvas Atom Canvas Text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Intel (INTC received from the The Israeli government has received $ 185 million in funding for a $ 5 billion expansion of the company's Israeli manufacturing activities in Santa Clara, Calif., one of the largest employers and exporters in Israel Expect to do so Increase 250 new employees and increase local purchases as a result of the deal Intel's shares increased 2.82% to $ 44.82 (as of 12:45 ET) "data-reactid =" 35 "> Intel (INTC) received a $ 185 million grant from the Israeli government for a promised expansion of the company's Israeli manufacturing activities by $ 5 billion, based in Santa Clara, California e enterprise is one of the largest employers and exporters in Israel and is expected to hire 250 new employees and increase its local purchases. Intel shares rose 2.82% to $ 44.82 at 12:45. ET

On Monday, December 24, 2018, traders work on the floor of the New York Stock Exchange. (AP Photo / Seth Wenig)

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " JD.com (JD), a Chinese e-commerce giant, said Wednesday that The Board of Directors approved a $ 1 billion share repurchase program that will be funded with existing cash holdings JD.com's share has recently come under pressure as concerns about a slowdown in China's economy and public scrutiny of potential sexual assault have threatened to bring charges against company CEO Richard Liu. Minnesota US attorneys said Friday that they would not file charges against Liu. JD.com's stock rose 4.94% to $ 20.73 per share at 12:45 pm ET. "data-reactid =" 47 "> JD.com (JD), a Chinese e-commerce giant, said Wednesday that its board is a stock buyback program $ 1 billion approved funded with the existing cash balance. JD.com's share has recently come under pressure as concerns about a slowdown in the Chinese economy and public scrutiny of potential sexual assault against company CEO Richard Liu have come under pressure. The US attorneys in Minnesota said Friday they would not bring charges against Liu. JD.com shares rose 4.94% to $ 20.73 per share at 12:45. ET.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " According to some sources, the Executive of Amazon (AMZN) The Trump Administration set up a new Internet portal that could generate billions for the ecommerce company, according to a report by The Guardian Private, while the contract for the new portal did not According to the British daily, Amazon could potentially create an entry point for a $ 53 billion market for government purchases of commercial products, and Amazon's shares rose 6.4% to $ 1,430 at 12:46 ET ". reactid = "48"> A senior Amazon employee (AMZN) reportedly advised the Trump administration on the creation of a new Internet portal that could generate billions of dollars from The Guardian, according to an e-commerce company , Although the order for the new portal has not yet been awarded, Amazon may be able to provide an entry point for a $ 53 billion market for the US government's purchase of commercial products. Amazon shares rose 6.4% to $ 1,430 per share at 12:46. ET.

ECONOMY: Growth in US housing prices slowed in October

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " The pace of US real estate price increases slowed in October according to data released on Wednesday by the S & P CoreLogic Case-Shiller Index for 20 house prices by 5.03% compared to a year earlier in October, compared to an annual increase of 5.2% in September, and consensus expectations showed a 4.86% gain in October, according to Bloomberg data. reactid = "50"> The pace of house price increases in the US slowed in October as revealed by data released on Wednesday from the S & P CoreLogic Case-Shiller Price Index for 20 homes. The index rose 5.03% in October against a 5.2% annual rise in September. According to data compiled by Bloomberg, consensus expectations had grown by 4.86% in October.

Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em.)) – sm "type =" text "content =" The activities of the Federal Reserve Bank of Richmond for manufacturing indexation in a US eastern hemispheric fell to minus 8 in December and fell from a positive 14 November level: consensus estimates suggest that the index rose to 15, with levels above 0 indicating growth. Declines in orders and shipments impacted the index, although the index for employment has risen, the Richmond Fed said. "data-reactid =" 51 "> Federal Reserve Bank of Richmond's indexing activity in a range of the eastern states fell to minus 8 in December and fell by a positive 14 in November Consensus estimates had risen to 15 for the index, and values ​​above 0 point to growth, with declines in orders and deliveries dragging on the index, despite the employment index rising, the Richmond Central Bank said in a statement.

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @ emily_mcck [19659019] "data-reactid =" 53 "> Emily McCormick is a reporter at Yahoo Finance. Follow her on Twitter: @emily_mcck

<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance on Twitter [19659023] Facebook Instagram Flipboard LinkedIn and reddit . "data-reactid =" 54 "> Follow Yahoo Finance on Twitter Facebook Instagram [19456501] 19659024] LinkedIn and reddit .

<p class = "Canvas Atom Canvas Text Mb (1.0 em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read more from Emily: " data-reactid = "55"> Read more from Emily:

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