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The Closing Bell: U.S. Stocks Waver As Investors Weigh Trade Against Monetary Policy:

TedTed
edited June 11 in The Bullpen
(The Closing Bell will be updated sometime after 4:00 PM CDST to include the latest updates from IBD and Bloomberg Evening Briefing.)

FYI: U.S. equity markets flipped between slight gains and losses Tuesday as investors wavered between fears of rising trade tensions and hopes that policy makers will bolster markets with fresh stimulus measures.

The Dow Jones Industrial Average lost .06%, S&P 500 .03% and the tech-heavy Nasdaq Composite .01% .

For the past week, markets have been spurred higher by hints that the Federal Reserve may lower interest rates. The S&P has rebounded 5% since Fed Chairman Jerome Powell said June 4 that the central bank is monitoring the impact of trade tensions on the economy and would respond if necessary. The Federal Reserve set to meet next week, and investors are looking for any clues as to whether rate cuts lie ahead for the world’s largest economy.

Despite the gains of the past week, U.S. equities have been whipsawed by headlines in recent weeks, said Jack Ablin, founding partner and chief executive officer of Cresset Capital, a Chicago firm that manages $4.7 billion.

The benchmark Shanghai Composite Index rose 2.6%, its strongest single-day gain since May 10. Its smaller Shenzhen counterpart gained 3.7%. Cement and construction firms led the rally.

In Europe, the Stoxx Europe 600 rose 0.7%.

Yields on government bonds, from the U.S. to the periphery of the eurozone, have fallen in recent sessions as growing concerns about global growth have sent investors into haven assets. The 10-year U.S. Treasury yield rose Tuesday to 2.155% from 2.143% Monday. Yields rise when prices fall.

Two of the biggest losers in the S&P 500 were United Technologies and Raytheon . United fell for a second day after announcing a deal to merge with defense contractor Raytheon that would create a combined company worth more than $100 billion. Raytheon retreated 5.1% while United slid 4.1% Tuesday afternoon.

Wireless carriers Sprint Corp. and T-Mobile both dropped after a group of state attorneys general filed a lawsuit Tuesday to block their proposed merger. Sprint fell 4.8% and T-Mobile declined 1.2%.

Vegetarian food company Beyond Meat Inc. plunged 22% after a JPMorgan analyst retreated from his bullish call on the stock.

The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, slipped 0.1%. In commodities, U.S. benchmark oil was up 0.6% at $53.54 a barrel.
Regards,
Ted
Bloomberg Evening Briefing:
https://www.bloomberg.com/search?query=Evening Briefing

MarketWatch:
https://www.marketwatch.com/story/stock-index-futures-point-to-positive-start-as-china-moves-to-bolster-economy-2019-06-11/print

WSJ:
https://www.wsj.com/articles/global-stocks-rise-as-china-plans-new-stimulus-measures-11560239747

Bloomberg:
https://www.bloomberg.com/news/articles/2019-06-10/asian-stocks-seen-mixed-sovereign-bonds-fall-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-reverses-lower-but-holds-key-support/
CNBC:
https://www.cnbc.com/2019/06/11/dow-futures-slightly-higher-despite-trumps-warning-on-china-tariffs.html

Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-higher-on-trade-optimism-rate-cut-hopes-idUSKCN1TC1G4

U.K:
https://uk.reuters.com/article/uk-britain-stocks/miners-lift-ftse-100-ted-baker-slumps-on-profit-warning-idUKKCN1TC0OX

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-up-on-china-stimulus-post-holiday-surge-for-frankfurt-idUSKCN1TC0NK

Asia:
https://www.marketwatch.com/story/asian-markets-gain-despite-fresh-tariff-threats-from-trump-2019-06-10/print

Bonds:
https://www.cnbc.com/2019/06/11/us-treasury-yields-tick-higher-as-investors-await-data-auctions.html

Currencies:
https://www.cnbc.com/2019/06/11/forex-market-us-china-trade-war-trump-tariff-threats-in-focus.html

Oil:
https://www.cnbc.com/2019/06/11/oil-market-opec-supply-cuts-economic-slowdown-in-focus.html

Gold:
https://www.cnbc.com/2019/06/11/gold-market-us-china-trade-war-us-mexico-deal-in-focus.html

WSJ: Markets At A Glance:
https://markets.wsj.com/us

Major ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitor

SPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

SPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectors

Current Futures:
https://finviz.com/futures.ashx


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