Stock Market Today

Tuesday, June 19 2018

Daily Updates

Stock Market Today: June 19, 2018

William G. Ferguson and Mario Ferro | 06/19/2018

The U.S. equity markets opened today’s session down sharply, but things improved modestly as the day wore on. The continued slide in stocks was largely attributed to escalating trade tensions between the U.S. and China. Over the weekend, China declared a new round of tariffs on U.S. goods in response to the 25% duties on $50 billion of Chinese merchandise announced by the Trump administration last Friday.

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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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