Markets / Commentaries
Stock Market Today: September 22, 2017
William G. Ferguson, Robert Mitkowski, and Robert Harrington | 09/22/2017
U.S. stocks were mostly mixed on Friday, with each of the major indexes recovering early-day losses in the late afternoon. The turn in sentiment can be largely attributed to the news that the Republican health care replacement bill would not receive the requisite support for its implementation. Overall, it was a down week for the large-cap composites, though we suspect profit taking amidst elevated valuations were partly to blame.
Markets / CommentariesStock Market Today: September 21, 2017
William G. Ferguson, Robert Harrington, and Mario Ferro | 09/21/2017
The U.S. equity markets started the day on a down note and remained in negative territory throughout the session. However, price action for the major indexes remained within a fairly narrow band. For the most part, it appeared that traders and investors continued to digest yesterday’s monetary policy update from the Federal Reserve.
Markets / CommentariesThe Federal Reserve Has No Surprises in September 2017
Harvey S. Katz, CFA | 09/20/2017
The Federal Reserve did the expected and for now, at least, Wall Street barely reacted. Specifically, the central bank chose to leave interest rates unchanged at its two-day FOMC meeting, which just concluded. That had been widely expected. Also widely forecast had been the Fed's indication that it would begin next month to roll off its $4.5 trillion balance sheet, much of which consists of Treasury securities and mortgage-backed assets it had acquired in the depths of the recession late last decade and its aftermath.
Markets / CommentariesStock Market Today: September 20, 2017
Harvey S. Katz, CFA, Adam Rosner, and Robert Mitkowski | 09/20/2017
Stock trading was quiet for much of Wednesday as investors waited for the Federal Reserve’s 2:00 Eastern Time decision about interest rates. The Fed’s decision to leave rates unchanged for now was largely expected.
Markets / CommentariesStock Market Today: September 19, 2017
Harvey S. Katz, CFA and Adam Rosner | 09/19/2017
The stock market pressed ahead today, extending the gains logged over the past several sessions. At the close of trading in New York, the Dow Jones Industrial Average was ahead 39 points; the broader S&P 500 Index was up three points; and the NASDAQ was higher by nearly seven points.
Markets / CommentariesStock Market Today: September 18, 2017
William G. Ferguson, Adam Rosner, and Robert Harrington | 09/18/2017
Stocks began Monday on a bullish note, with each of the major U.S. indexes setting intraday trading highs amidst a buoyant tone that persisted well into the second part of the day. News of a high-profile merger in the defense industry between missile and satellite manufacturer Orbital ATK (OA) and top-five U.S. defense contractor Northrop Grumman (NOC) stoked the initial rally.
Markets / CommentariesStock Market Today: September 15, 2017
Harvey S. Katz, CFA, Mario Ferro, and Robert Harrington | 09/15/2017
On a Friday that saw neither the bulls nor bears establish dominance, the major U.S. indexes each rose in value. The Dow Jones Industrial Average spent the entire session in positive territory, as strength from Boeing (BA), Verizon (VZ), and its technology components. The tech-laden NASDAQ was accordingly strong, as well, helping to offset yesterday’s downturn, while the S&P 500 turned in a more modest gain for the day.
Markets / CommentariesStock Market Today: September 14, 2017
Harvey S. Katz, CFA, William G. Ferguson, and Adam Rosner | 09/14/2017
The U.S. stock market got off to a mildly lower start this morning, and ultimately delivered a mixed session. At the close of trading in New York, the Dow Jones Industrial Average was ahead 45 points, while the broader S&P 500 Index was down three points, and the NASDAQ was lower by 31 points. Market breadth was divided, with winners nominally ahead of losers on the NYSE.
Markets / CommentariesStock Market Today: September 13, 2017
Harvey S. Katz, CFA, Adam Rosner, and Robert Harrington | 09/13/2017
Stocks opened lower on Wednesday, as traders looked to cap gains following a solid two-day start to the weekly session. The Dow Jones Industrial Average fared relatively better than its counterparts, the S&P 500 and NASDAQ 100, which pared their losses in the afternoon and managed to each finish a shade above their respective breakeven lines.