Hi-Tech

Stocks close with solid gains after volatile session, Dow +2.3%

Stocks close with solid gains after volatile session, Dow +2.3%

Rising yields have made bonds more appealing to some investors compared to stocks.

The Dow finished with a decline of 1,033 points, the second-worst point drop in history, eclipsed only by Monday's 1,175-point nosedive. The Nasdaq Composite index also lost 3.8% at 6,967.

The market's recent volatility has wiped out the Dow's gains (and the S&P 500's) for 2018.

The benchmark S&P 500 closed 10.4% below its record high on January 26.

Trading has been turbulent all day.

The gains across the pond, however, did not spread to Asian markets, with the majority posting losses.

It might take a month before the final drop where the DOW could drop near the 15,000 mark, only 1,000 more than the top of the '08 crash where it dropped 50 percent before correction.

As Vox's Emily Stewart wrote earlier this week, market observers have been bracing for a correction for a while now: "markets have largely been climbing since the recession and bull markets can't last forever".

Among the sectors that have performed poorly on Wall Street this week are banks, homebuilders and tech companies. The 10-year yield ended the day at 2.837 percent.

High-dividend stocks including phone companies fell.




Bond prices rose. The yield on the 10-year Treasury fell to 2.83 percent from 2.84 percent. When bond yields rise, those stocks become less appealing to investors seeking income.

This scale of volatility is rare but the end of 2017 saw huge shifts in the stock market especially with bitcoin value and other cryptocurrencies.

"The only data point of the day showed the USA non-manufacturing sector started 2018 in robust health", he said. "Corrections are caused by people having to reposition for new environments".

Some experts had predicted things could get worse before they get better.

China's stock market benchmark has fallen as much as 5.5 percent after the sharp sell-off on Wall Street. Schutte said that as central banks stop propping up the market, trading will probably be more volatile in the next few years. "We can not go straight up or straight down. we need both buyers and sellers to really pull and find the right place where our market should be at", said Jonathan Corpina, a trader at the New York Stock Exchange.

Copper lost 1.30 per cent to $US7,075.85 a tonne. The March copper contract was down one cent to US$3.08 a pound.

Elsewhere in commodities, the March crude contract was down 64 cents to US$61.15 per barrel and the March natural gas contract was down one cent to US$2.70 per mmBTU. Those bets against market volatility blew up on Monday.

Japan's Nikkei 225 average lost 2.8 percent to 21,240.05 in early trading Friday.

Falls were widespread in Europe, with Germany's Dax down 2.6% and France's Cac 3%.


  • Rising Ghanaian pop star Ebony dies in vehicle  crash at age 20

    Rising Ghanaian pop star Ebony dies in vehicle crash at age 20

    Fellow artists, fans and supporters have been sharing their condolences on social media. Mawu na nor kpli wo! Two other occupants of the auto she was travelling in also died.
    SoftBank chief Masayoshi Son eyes telecoms IPO within 2018

    SoftBank chief Masayoshi Son eyes telecoms IPO within 2018

    The Nikkei economic daily, which first reported the plan, said the listing could bring in two trillion yen ($18 billion). And there's no sign that will organically turn around: Operating profit came in at just $2.5 billion, missing estimates.

    Express Scripts Holding Company (ESRX)- Analysts Recom After Major Development

    Capstone Investment Advisors Netherlands B.V. boosted its stake in shares of Express Scripts by 49.3% during the second quarter. Mizuho set a $67.00 price target on Express Scripts and gave the stock a "hold" rating in a report on Tuesday, October 24th.
  • Pita Taufatofua, Tonga's Flag-Bearer, Is Still Shirtless And Shinier Than Ever

    Pita Taufatofua, Tonga's Flag-Bearer, Is Still Shirtless And Shinier Than Ever

    Temperatures may have been in the high 20s, but Taufatofua was again in native garb, which means being shirtless and oiled again . Nordic sports are not exactly a cakewalk and even top athletes cross the finishing line and collapse in a heap gasping for air.
    YouTube penalises Logan Paul for dead rat Taser video

    YouTube penalises Logan Paul for dead rat Taser video

    YouTube told the Press Association the decision had been made to suspend ads on all of his channels after "careful consideration". More recently, Paul joked about taking the "Tide Pod challenge", which dares people to bite into the detergent capsules.
    Toyota unveils new off-road trucks at the Chicago Auto Show

    Toyota unveils new off-road trucks at the Chicago Auto Show

    Tundra TRD Pro buyers can look forward to LEDs for the headlights and fog lights as well as revised grille and hood designs. Up front, the Fox shocks are paired with TRD-tuned springs designed for ride comfort and to also produce additional lift.
  • Draw first blood in Ice Cricket 2018

    Draw first blood in Ice Cricket 2018

    The matches will start at 11.00 local time (3.30 pm IST) and will be telecast on Sony Six HD and Sony ESPN. Moritz Ice Cricket 2018 Twenty20 tournament is set to take place on February 8, Friday in Switzerland.
    How to watch the PyeongChang Games Opening Ceremony

    How to watch the PyeongChang Games Opening Ceremony

    The North's last-minute decision to participate was among the biggest and among the most controversial stories in PyeongChang . Prior to the events, security issues have crept up as the venues are a mere 80 kilometers away from the inter-Korea borders.
    Russian Federation  will push for WADA, IOC reforms after PyeongChang 2018 - Duma official

    Russian Federation will push for WADA, IOC reforms after PyeongChang 2018 - Duma official

    The Olympics have started. "There are promising athletes". "We're at a time where people want this thing fixed", she said. A special International Olympic Committee panel "agreed the decision of the Cas had not lifted the suspicion of doping".
  • Upper Midwest, parts of Northeast prepare for another big winter storm

    Upper Midwest, parts of Northeast prepare for another big winter storm

    The first part of a narrow band of heavy snow arrived Thursday night at the United States' third-largest city by population. It's estimated that 83 million Americans are now under winter storm advisories or warnings today .
    Asteroid set for 'close' 43300 mile flight past Earth on Friday

    Asteroid set for 'close' 43300 mile flight past Earth on Friday

    NASA said 2018 CB will safely pass the Earth at a distance of 39,000 miles, pretty close by space standards. Also, on February 4, a fast-moving mid-sized asteroid named 2002 AJ129 zoomed past Earth in a close flyby.
    Maxim Group Reiterates

    Maxim Group Reiterates "Hold" Rating for Teva Pharmaceutical Industries (TEVA)

    Teva Pharmaceuticals , with USA headquarters in North Wales, Pennsylvania, reported an operating loss for 2017 of $17.5 billion. Raymond James Trust N.A.'s holdings in Teva Pharmaceutical Industries were worth $492,000 as of its most recent SEC filing.