Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia edged up Monday morning as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.Asia Marketsread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Trump said Cook made a "good case" that it would be difficult for Apple to pay tariffs, when Samsung does not face the same hurdle because much of its manufacturing is in...Technologyread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
The hearing will now begin next Monday to allow time for the completion of a previous trial that revolves around former 1MDB unit SRC International, a Kuala Lumpur High Court...Asia Newsread more
"I don't want to do business at all because it is a national security threat," Trump told reporters.Technologyread more
Trump's is due to visit Copenhagen early next month, when the Arctic will be on the agenda in meetings.Europe Politicsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Small investors are starting to cash in on this bull market, six years after one of the most powerful uptrends ever began, according to 6 million accounts with TD Ameritrade.
A metric compiled by TD, called the Investor Movement Index, or IMX, at the end of February fell to the lowest level in more than two years and to a point that presaged an 8 percent pullback in the stock market before the bull resumed. Trading darlings Amazon.com, Netflix and Twitter were among the most actively sold stocks by TD clients.
The IMX measures what the retail trader is actually doing with their money, not what they say they are doing, setting it apart from other widely followed sentiment measures. This new way of taking the temperature of attitudes toward the market, which TD began testing in 2010, actually shows sentiment can be a leading indicator, not a contrary indicator, which many on Wall Street consider the retail audience to be.
The proprietary calculation measured 4.70 at the end of February. Back in September 2012, the index had a reading of 4.66. That month the S&P 500 topped out and when on to decline more than 8 percent before resuming its bull advance two months later.
To be sure, retail investors have pulled back before. The IMX hit an all-time high of 5.87 in March 2014 before falling and the bull market continued pretty much unabated until last week.
The S&P 500 is down 2 percent in the last five days on concern the Federal Reserve will begin raising interest rates this summer.
The stocks that the retail investors are selling are onetime high flyers of this bull market. Twitter, Netflix and Amazon are all up more than 20 percent this year. Small investors also took profits in Google and Boeing, both up more than 8 percent this year.
A measure that values the action of professionals (not their opinions) shows that Wall Street traders are getting bearish as well. The CBOE Put-Call ratio surged on Friday to 1.3 puts traded for every call as markets tanked. As puts are generally hedges or bets on market declines, retail investors aren't the only one bailing on this bull.