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Stock Market Today

Sunday, June 17 2018

Daily Updates

Stock Market Today: June 15, 2018

Harvey S. Katz, CFA and Robert Harrington | 06/15/2018

Resurgent fears of a trade war and increased global oil supplies stoked a steep selloff for most of Friday, before a late-in-the-day rally ended up capping the indecisive week on only a slightly negative note. Indeed, news that the United States was planning to implement 25% tariffs on $50 billion in Chinese exports set the stage for the bearish tone that persisted through the early afternoon.

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Featured Commentaries View all

Markets Commentaries

The Federal Reserve Does The Expected, But Says What Was Unexpected

Harvey S. Katz, CFA | 06/13/2018

This afternoon, an increasingly transparent Federal Reserve Board raised its target on the federal funds rate by 25 basis points, or one-quarter of a percentage point. That move was widely expected and taken by itself should not have elicited much reaction by the markets. What Wall Street was not necessarily expecting was a suggestion that the lead bank was aiming for two additional rate hikes this year.

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Stocks Highlights

Dow 30 Earnings: Cisco Systems Third Quarter Fiscal 2018

Kevin Downing | 05/17/2018

Networking equipment and software maker Cisco Systems (CSCO) has reported in-line results for the April quarter. Total revenue of $12.5 billion was slightly higher than our $12.4 billion estimate, and grew 4% year over year. Product sales rose 5%, while service revenue only advanced 3%. The latter was somewhat worse than investors had been looking for, and the shares declined marginally as a result.

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