Markets / Commentaries
Stock Market Today: March 24, 2017
Harvey S. Katz, Mario Ferro, and Adam Rosner | 03/24/2017
Equities pressed ahead this morning, weakened in the early afternoon, before rebounding sharply late in the session, and subsequently wilting again near the close. Of note, traders were taking their cue from Washington, where politicians are currently debating the nation’s healthcare system. At the close of the session, the Dow Jones Industrial Average was off 60 points; the broader S&P 500 Index was down two points; and the NASDAQ was up 11 points.
Markets / CommentariesStock Market Today: March 23, 2017
Harvey S. Katz, Robert Harrington, and Adam Rosner | 03/23/2017
Stocks pressed higher earlier today, but softened considerably in the afternoon on disappointing news out of Washington. At conclusion of trading, the Dow Jones Industrial Average was down five points, while the broader S&P 500 Index was off two points, and the NASDAQ was lower by four points.
Stocks / HighlightsDow 30 Earnings: NIKE, Inc. Third Quarter Fiscal 2017
Erik Manning | 03/22/2017
Sports footwear and apparel maker NIKE, which is also a Dow-30 member, has reported financial results for its fiscal third quarter (ended February 28th). Earnings bested both our and Wall Street's expectations by a handsome margin, but the revenue figure was a bit below consensus. Investors chose to focus on the top-line shortfall in the trading hours following the release, and the stock was down more than 6% on the news.
Markets / CommentariesStock Market Today: March 22, 2017
Harvey S. Katz, William G. Ferguson, and Robert Harrington | 03/22/2017
Stocks rallied in the final hour of Wednesday’s trading, with investor sentiment improving modestly compared to yesterday’s widespread selloff. The indexes were a bit more buoyant throughout, save for the Dow Jones Industrial Average, which spent most of the session in negative territory, with a closing loss of 7 points. But, while the S&P 500 and tech-centric NASDAQ traded in the black after initial softness in the opening hours, a bearish undertone due to persistent selling of small-cap equities held overall market breadth back.
Markets / CommentariesStock Market Today: March 21, 2017
Harvey S. Katz and Adam Rosner | 03/21/2017
Stocks opened moderately higher today, but soon slipped into negative territory. Further, by the close of trading, the major averages were unable to successfully recover any ground. Specifically, the Dow Jones Industrial Average was down 238 points; the broader S&P 500 Index was off 29 points; and the NASDAQ was lower by 108 points.
Markets / CommentariesStock Market Today: March 20, 2017
William G. Ferguson and Robert Harrington | 03/20/2017
U.S. stocks were largely range-bound on Monday, toggling in and out of positive territory at several points between the bells. The majority of equities finished the day lower than when they came in, as profit taking and rotational trading were dominant trends throughout. The modest sell-off was bolstered by activity in the small- and mid-cap markets, as declining shares outnumbered advancers. This was a shift from the positive tone underlying trading late last week, albeit a slight one.
Markets / CommentariesStock Market Today: March 17, 2017
Harvey S. Katz, Robert Mitkowski, and Robert Harrington | 03/17/2017
The major U.S. indexes, which began Friday higher before dipping into negative territory, struggled to maintain the gains registered during its mid-afternoon rally. The day began with more positive news on the business beat, but ensuing optimism was bogged down by the reaction to the Federal Reserve’s announcement on Wednesday that it intended to enact three interest rate hikes in 2017, rather than four. And while the bulls regained control of the market heading into the closing hour, an active political news cycle may have also sowed some uncertainty as the closing bell neared.
Markets / CommentariesStock Market Today: March 16, 2017
Harvey S. Katz, Robert Harrington, and Adam Rosner | 03/16/2017
The stock market opened slightly higher this morning, slumped after about an hour, and only partially recovered late in the day. At the end of the session, the major averages were mixed, with the Dow Jones Industrial Average closing down 16 points; the broader S&P 500 Index was off four points; and the NASDAQ was little changed.
Markets / CommentariesThe Federal Reserve Raises Interest Rates For The Second Time In Three Meetings
Harvey S. Katz | 03/15/2017
The nation's Federal Reserve Board, which may not always do what investors want, at least rarely surprises them these days. The lead bank earlier this afternoon opted to boost the federal funds rate by a quarter of a percentage point, there were few raised eyebrows. Of note, this move had been widely telegraphed in recent weeks, with the odds of an increase in borrowing costs being close to 100% in the days leading up to the Fed meeting.