Stock Market Hits New High Thanks to Fed Policy Shift

The escalation of tensions in the Persian Gulf didn’t kill investors’ enthusiasm. June 20, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The Fed’s clear signal yesterday that a rate cut could be coming outweighed worries about rising risks in the Middle East. The apparent shooting down of an American drone by Iran, however, did cause another spike in the price of oil today. West Texas crude oil was up 5.8 percent today and has risen nearly ten percent in the last two days. Shares in oil and gas producer Hess Corp. were up 4.07 percent. The S&P 500 index set an all-time high late in the day and closed with a gain of 0.95 percent. The Dow and Nasdaq Composite indexes were up 0.94 percent and 0.8 percent respectively. The Entrepreneur Index™ rose 0.79 percent today. Alexion Pharmaceuticals had the biggest gain on the Entrepreneur […]

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Facebook Stock Rises as Company Prepares to Unveil Its Cryptocurrency

The tech giant’s cryptocurrency reportedly has backing from traditional payment firms and other billion-dollar businesses. June 14, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. A late rally in the stock market fizzled and left the stock indexes with losses on the day. The Dow and S&P 500 indexes were down 0.07 percent and 0.16 percent respectively while the Nasdaq Composite index fell 0.52 percent. The Entrepreneur Index™ closed the day down 0.12 percent. Semi-conductor stocks were down sharply after Broadcom reported weaker than expected revenues today. The chip-maker also lowered guidance for 2019, blaming weak global demand and the U.S. crackdown on Chinese telecom firm Huawei for its deteriorating outlook. Chipmakers NVIDIA Corp. (-2.7 percent) and Analog Devices (-1.66 percent) had the biggest declines in the tech sector on the Entrepreneur Index™. NVIDIA, which produces high-end graphics chips, is up 8.3 percent this year but down 45.8 […]

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Tesla Stock Continues June Rebound as Shares Rise Again

The broader stock market was flat. June 11, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Stocks opened higher but fell through most of the day. The indexes ended the session with declines of less than 0.1 percent. The Entrepreneur Index™ fared slightly better, closing the day with a gain of 0.08 percent. Tesla had another good day, posting the biggest gain on the Entrepreneur Index™. It was up 1.98 percent after Morgan Stanley analyst Adam Jonas suggested that investors were undervaluing the company’s potential upside from its autonomous driving technology. Earlier this year, CEO Elon Musk said that autonomous driving fleets of Teslas would eventually give the company a market cap of $500 billion. The shares are up more than twenty percent in June after losing nearly fifty percent of their value in the first five months of the year. The technology sector once again […]

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Weak Jobs Data Pushes Technology Stocks and Entrepreneur Index™ Up Sharply

Investors anticipate interest rate cuts from the Fed. June 7, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Bad news on the economy was good news for the stock market today. The non-farm U.S. economy added only 75,000 jobs last month — less than half the 180,000 expected, according to the Department of Labor. Investors, however, expect the sharp slowdown in the labor market will prompt the Federal Reserve to cut interest rates sooner rather than later. Earlier this year, weak economic data motivated investors to sell stocks, but the prospect of a more accommodative Fed has them buying stocks now. The Dow and S&P 500 indexes were up 1.02 percent and 1.05 percent respectively while the Nasdaq Composite gained 1.66 percent. The Entrepreneur Index™ closed the day up 1.52 percent. The technology sector was the biggest beneficiary of the Fed-induced optimism with all thirteen tech stocks […]

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Wynn Resorts and Tesla Post Big Gains as Fed Chairman’s Comments Buoy Stock Market

Federal Reserve Bank Chairman Jerome Powell has the economy’s back. June 4, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Federal Reserve Bank Chairman Jerome Powell said today that the Fed “will act as appropriate to sustain the expansion” of the economy. The market is currently pricing in two cuts in interest rates by the Fed before year-end. Powell’s message along with encouraging comments from Chinese and Mexican officials about reaching trade deals with the U.S. put a charge in stock prices today. The Nasdaq Composite index was up 2.65 percent after a sharp drop yesterday. The Dow and S&P 500 indexes were up 2.06 percent and 2.14 percent respectively. The Entrepreneur Index™ closed the day with a gain of 2.29 percent. The technology sector led the market today after one of its worst days of the year yesterday. The tech stocks most sensitive to the […]

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President Trump’s New Tariff Threat Hurts Stock Prices

The president’s latest trade bombshell lobbed at Mexico sent investors scurrying for cover. May 31, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Stock prices were down sharply after the President, a self-described “tariff man,” threatened via Twitter to impose a five percent tariff on all imports from Mexico unless “the illegal immigration problem is remedied.” The White House later issued a statement saying that unless Mexico “substantially stops” the number of illegal entrants across the southern border, the tariff would increase to 25 percent by October. The Dow index was down 1.41 percent while the S&P 500 and Nasdaq composite indexes fell 1.32 percent and 1.51 percent respectively. The Entrepreneur Index™ closed the day 1.55 percent lower. The President’s threat exacerbated fears about slowing global economies and sent interest rates and the price of oil plummeting. The yield on the 10-year Treasury bond fell more […]

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Stock Market Falls as Trade War Between the U.S. and China Gets Nastier by the Day

A deal between the world’s two biggest economies looks less likely. May 23, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The U.S. Purchasing Managers Index (PMI), which measures business activity in the manufacturing and service sectors, fell to its lowest level in nine years this month. At a reading of 50.6, the PMI suggests the economy may currently be close to flat. Interest rates and the price of oil plunged on the weak economic news. So did stock prices. The major indexes were all down sharply with the Nasdaq Composite index falling 1.58 percent. The Entrepreneur Index™ closed the day with a loss of 1.69 percent. Technology stocks were once again hammered on the trade front. There is growing fear that the blacklisting of Chinese telecom company Huawei Technologies could cause a “tech cold war” between the two biggest producers and consumers of technology products. […]

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Tesla Stock Falls Hard Despite Elon Musk’s Claim That It Will Eventually Have $500 Billion Market Cap

Plus, Under Armour stock jumps based on an analyst upgrade. May 17, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The report yesterday of a third fatal accident possibly involving the company’s autopilot feature sent Tesla shares plummeting 7.46 percent. CEO Elon Musk recently suggested that autonomous driving vehicles would eventually give Tesla a $500 billion market cap … the company is currently worth $37 billion. An email from Musk to Tesla employees about the need for a “hard-core” cost-cutting effort also shook investor confidence. The stock set a new 52-week low today and MKM Partners analyst JC O’Hara suggested that the shares had no technical support in the market until the $185 level — another 13 percent drop from the current price. The shares are now down 36.6 percent this year. The broader stock market recovered from a poor start to the trading session thanks […]

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Technology Stocks Lead Market Higher Despite Another Tesla Crash

Tesla shares were down after a third crash potentially involving the company’s Autopilot system occurred in March. May 16, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. The U.S. economy continues to outdo expectations helping the stock market push back toward all-time highs set earlier this month. Housing starts jumped 5.7 percent to 1.235 million units last month, significantly higher than expected and the labor market continued to show surprising strength. Jobless claims fell to 212,000 last week versus estimates of 220,000, according to data from the Labor Department. The stock indexes all had solid gains today. The Dow and S&P indexes were up 0.84 percent and 0.89 percent respectively while the Nasdaq Composite gained 0.97 percent. The Entrepreneur Index™ closed the day up 0.95 percent with strength across most sectors of the market. After diving on Monday when China imposed retaliatory tariffs on American goods, […]

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Tech Industry Leads the Market Higher on Great Day for Google, Facebook and Amazon Stocks

Plus, a delay in auto tariffs lifts investors’ spirits. May 15, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The stock market continues to swing based on trade tensions with China and other major trading partners of the U.S. Share prices were down in early morning trading but rallied after President Trump’s administration indicated that it planned to delay tariffs on automobiles and auto-parts from numerous countries for up to six months. The major indexes all posted solid gains. Technology stocks, and particularly the internet giants, once again led the market higher. The tech-heavy Nasdaq Composite was up 1.13 percent and the Entrepreneur Index™ gained 1.14 percent. The Dow and S&P 500 indexes were up a more modest 0.45 percent and 0.58 percent respectively. The FAANGs found their footing today and posted the biggest gains in the technology sector. Alphabet Inc. (3.91 percent), Facebook (3.09 percent), […]

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Market Tanks — and Uber and FAANG Stocks Fall — After China’s Trade Retaliation

President Trump may be comfortable with tariffs and trade wars, but investors aren’t. May 13, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Stock prices fell hard today after China announced retaliatory tariffs on $60 billion of American exports to the country today. Higher U.S. tariffs on $250 billion of Chinese imports when into effect last Friday. The market, clearly expecting a trade agreement between the world’s two biggest economies, had its worse day since early January. With a trade deal now looking less likely, investors are fleeing risk. Related: Uber Stock Tumbles After IPO, Leading to Disappointing First Day as Public Company The technology sector was hit hardest, dragging the Nasdaq Composite index down 3.41 percent. The Dow, down more than 700 points in the morning, fell 617 points on the day or 2.38 percent. The S&P 500 index declined 2.41 percent. The Entrepreneur Index™ […]

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President Trump’s Mixed Messages on Trade Deal Rattle the Stock Market

May 9, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The stock market whipsawed today as the President delivered conflicting messages about ongoing trade negotiations between the U.S. and China. Yesterday, the President said that China had broken the deal but suggested today that an agreement could still be reached before more tariffs on Chinese goods take effect at midnight tonight. He also added that tariffs were an “excellent” alternative to a deal. Investors don’t know what to make of the situation. Stock prices were down sharply this morning before recovering ground in the afternoon. The Dow and S&P indexes ended the day off 0.54 percent and 0.3 percent respectively while the Nasdaq Composite fell 0.41 percent. The Entrepreneur Index™ closed the day with a loss of 0.33 percent. Technology stocks were generally down today. Twitter (0.54 percent), Verisign Inc. (0.3 percent) and Cognizant Technology (0.2 percent) had […]

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Prospect of U.S.-China Trade War Sinks Stock Market Prices

Stock market prices were down sharply across the market. May 7, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The prospect of an escalating trade war between the U.S. and China led to major losses in the stock market today. President Trump’s administration did not back off threats to impose higher tariffs on Chinese goods if a deal wasn’t reached by the two sides before midnight on Friday. The three major stock indexes were all down more than 1.5 percent and Treasury bond yields fell sharply as investors expect a trade war between the world’s two biggest economies to have dire consequences. The Entrepreneur Index™ fell 2.0 percent with steep losses across all sectors of the market. Only two stocks on the index were up today. Ford Motor Co. gained 0.1 percent and Kinder Morgan was up 0.62 percent, buoyed by the disclosure of chairman of […]

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Warren Buffett Boosts Amazon and the Rest of the Tech Sector

The Oracle of Omaha revealed he was investing in the online retail giant. May 3, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. The U.S. economy added 263,000 jobs last month, topping expectations by a wide margin, and the unemployment rate dropped to 3.6 percent, its lowest level since 1969. That strong showing, coupled with good (but not too good) wage growth of 3.2 percent, sent the stock market back towards the record highs set last Friday. Technology stocks led the way. The tech-heavy Nasdaq Composite index was up 1.58 percent while the S&P 500 and Dow indexes were up 0.96 percent and 0.75 percent respectively. The Entrepreneur Index™ posted a gain of 1.33 percent on the day. Related: Warren Buffett Recently Invested in Amazon. It Made Him Nearly $250 Million Before. Amazon, down in the previous four trading sessions, jumped 3.24 percent after Warren Buffett revealed he was investing in […]

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Ford Stock Rises After Outperforming Expected Earnings, While Tesla Falls

Ford was up more than 10 percent Friday. April 26, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Ford Motor Co., the oldest U.S. automaker, surged today after beating expectations with first quarter earnings while Tesla, one of the youngest, continued to slide after reporting dismal results two days ago. Ford was up 10.74 percent, while Tesla fell 5.16 percent–the biggest gain and loss on the Entrepreneur Index™ today. The move in the two companies’ stock prices now makes Ford more valuable than Tesla for the first time since April 2017. The broader stock market was up today on the strength of the U.S. economy. Despite slower global economic growth and conflicting U.S. economic data, first quarter GDP growth of 3.2 percent was sharply higher than 2.5 percent estimates. A build-up in inventories was responsible for a good portion of that growth, but the economy is […]

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Great Earnings Numbers Push Facebook Stock Higher, While Lousy Earnings Drive Down Tesla

The Entrepreneur Index™ was down on the day. April 25, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Great earnings pushed Facebook shares up nearly six percent while lousy earnings drove down Tesla‘s stock more than four percent. With the reporting season now in the middle innings, it’s clear that the earnings recession feared by investors — when profits actually decline — will not come to pass this quarter. Profit growth has slowed significantly for companies across the economy but on average, it hasn’t gone negative. Facebook, as it did last quarter, blew away analyst estimates for earnings and revenues. Despite all the angst about user and regulator backlash over privacy issues, the social media giant continues to deliver stellar financial results. First quarter revenues were up 26 percent and monthly users were up eight percent for the quarter. The stock, up more than ten percent […]

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Twitter Ignites Technology Sector, Helping Push the Stock Market to Record Highs

The S&P 500 and Nasdaq indexes set new all-time highs as the Entrepreneur Index™ soars. April 23, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. In the busiest week of this corporate earnings season, companies are delivering the results and pushing the stock market to record highs. Twitter led the parade. The social media leader handily beat analyst expectations and saw its shares jump 15.64 percent — by far the biggest gain on the Entrepreneur Index™ today. Stocks were strong across all sectors of the market, however. Tech, healthcare and REIT stocks helped the Entrepreneur Index™ post a 1.38 percent gain today and set a record high. The broader S&P 500 and Nasdaq Composite indexes were up 0.88 percent and 1.32 percent respectively, both also setting new all-time highs in the process. The Dow index was up 0.55 percent and is within a percentage point of […]

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Strong Retail Sales and Corporate Earnings Results Boost Entrepreneur Index™ and Confidence in the Economy

The Entrepreneur Index™ posted a modest gain of 0.18 percent today. April 18, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. U.S. retail sales last month rose an unexpectedly strong 1.6 percent. That and better-than-expected corporate earnings results helped the stock market post modest gains today. The Dow and S&P 500 indexes were up 0.42 percent and 0.16 percent respectively while the Nasdaq Composite rose 0.02 percent. The Entrepreneur Index™ closed the day with a gain of 0.18 percent. Returns were muted on the index today. TripAdvisor Inc. had the biggest gain, rising 1.83 percent. Regeneron Pharmaceuticals, on a week-long slide, had the biggest loss, falling 2.81 percent. Diversified manufacturer Danaher beat both revenue and earnings estimates but didn’t get a lot of love from investors. The stock’s 1.51 percent gain was significantly less than the 2.57 percent drop yesterday heading into the earnings release. Shares […]

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Strong Earnings and Big Oil Deal Push Stock Prices Higher

Oil producer Hess Corp. helps the Entrepreneur Index™ post a modest gain. April 12, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Good earnings from J.P. Morgan, the country’s biggest bank, a new streaming service from media giant Walt Disney Co., and a big acquisition in the energy sector all lifted stock prices today. The Dow index, the laggard of the three major indexes this year with a return of 13.2 percent, was up 1.03 percent today, led by J.P Morgan and Disney. The S&P 500 and Nasdaq Composite indexes were up 0.66 percent and 0.46 percent respectively. The Entrepreneur Index™ closed the day with a gain of 0.19 percent. The announcement of a $33 billion deal between Chevron and Anadarko Petroleum got investors in the oil-patch fired up. While Chevron’s stock fell 4.94 percent, the rest of the sector soared as the market expects more […]

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Tesla Shares Down After Gigafactory Expansion Put on Hold

Plus, Bed Bath & Beyond plummets after earnings report. April 11, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. Just a few percentage points from their all-time highs, the major stock indexes appear to be waiting for a catalyst to take them over the top. It could be a trade deal with China. The two sides appear to be ironing out the details of an enforcement mechanism for the agreement. It could be corporate earnings reports, which begin in earnest next week. The numbers won’t be strong, but if they beat lowered expectations, they may lift stock prices. A late-afternoon rally pared losses on the stock indexes today. The Dow, and Nasdaq Composite fell 0.05 percent and 0.21 percent respectively, while the S&P 500 was flat on the day. The Entrepreneur Index™ was down 0.28 percent with retailers, drug-makers and Tesla posting the biggest declines. Tesla […]

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