Markets / Commentaries
Stock Market Today: December 17, 2018
Harvey S. Katz, CFA | 12/17/2018
Following an up-and-down, in-and-out, and altogether unsettling first four days of this final full-week of 2018, the stock market began Friday's session notably to the downside. As the final bell sounded, the major market averages settled in near the day's lows on those off-shore economic worries. Now a new week begins, and one that will be dominated by news from the Federal Reserve, as the central bank will be meeting this week to decide on interest-rate policy. As to the day ahead, shares were higher in Asia overnight, while in Europe, the major bourses are trading lower at this hour. In other markets, oil prices are up, but Treasury note yields are slightly lower. Finally, ahead of trading here, our equity futures are poised for a lower opening.
Markets / CommentariesStock Market Today: December 14, 2018
Harvey S. Katz, CFA and John E. Seibert III | 12/14/2018
Today’s stock market trading was rather unsettling, as the indices primarily fell on weaker economic growth prospects abroad. Indeed, China’s economy showed another sign of weakening in its industrial production output, while the Eurozone PMI fell to its lowest level in four years. The Dow Jones industrial Average headed lower in the early part of the trading session, and made a series of lower highs and lower lows throughout the course of the day.
Markets / CommentariesStock Market Today: December 13, 2018
Harvey S. Katz, CFA and John Seibert III | 12/13/2018
The markets started trading higher in the futures market, as news that China’s government had bought around 500,000 tons of soybeans from the United States broke. This represented the first major purchase from that country in several months, and caused investor sentiment to improve concerning a trade deal between the two countries. The Dow Jones Industrial Average rose by around 215 points in early market trading, while the S&P 500 added 19 points. However, sentiment trailed off during the session, and the indices made a series of lower highs and lower lows, causing the markets to give up much of the day’s gains.
Markets / CommentariesStock Market Today: December 12, 2018
Harvey S. Katz, CFA and Robert Mitkowski | 12/12/2018
Stocks bounced nicely on Wednesday on favorable news regarding trade relations with China. That nation has indicated a willingness to allow greater access to its markets, as well as increase its purchases of U.S. products, including soybeans.
Markets / CommentariesStock Market Today: December 11, 2018
Harvey S. Katz, CFA and Adam Rosner | 12/11/2018
Stocks opened nicely higher this morning, slipped into negative territory around midday, partially recovered in the afternoon, and closed on a mixed note. At the end of the session, the Dow Jones Industrial Average was down 53 points; the broader S&P 500 Index was off one point; and the technology-heavy NASDAQ was higher by 11 points. Market breadth was neutral today, with winners about even with losers on the NYSE. Leadership was found in the technology and consumer names, offsetting weakness in the industrials and financial issues.
Markets / CommentariesStock Market Today: December 10, 2018
William G. Ferguson and Adam Rosner | 12/10/2018
The stock market got off to a weak start this morning, but managed to recover considerable ground as the session progressed. By the close of trading, the major averages landed in positive territory. Specifically, the Dow Jones Industrial Average was ahead about 34 points; the broader S&P 500 Index was up five points; and the technology-heavy NASDAQ was higher by 51 points. Meanwhile, market breadth showed a somewhat divided session, with decliners outnumbering advancers on the NYSE. From a sector perspective, the energy and financial issues moved lower, while the technology names managed to press ahead.
Markets / CommentariesStock Market Today: December 7, 2018
Harvey S. Katz, CFA and Mario Ferro | 12/07/2018
The major U.S. indexes started the last trading session of the week with a slight uptick, but the bears quickly regained control and the selling generally accelerated as the day wore on. On the economic front, the U.S. monthly employment report for November showed that 155,000 jobs were created, while the unemployment rate remained unchanged at a 49-year low of 3.7%.
Markets / CommentariesStock Market Today: December 6, 2018
Harvey S. Katz, CFA and John Seibert III | 12/06/2018
The futures markets fell considerably overnight as news broke that the CFO of Huawei Technologies, a private Chinese company that is the largest telecommunications-equipment manufacturer in the world, had been arrested in Canada at the behest of U.S. authorities. Given the importance of this company to China’s economy, it caused shockwaves across the global markets, and concerns rose about whether a U.S. trade pact with China will still be achieved.
Markets / CommentariesStock Market Today: December 4, 2018
Harvey S. Katz, CFA and John Seibert III | 12/04/2018
The market started trading lower today, as uncertainty rose concerning the ability of the United States to come to a long-term trade agreement with China. The Dow Jones Industrial Average trended downward steadily, and the other indices followed that move. Later in the morning, the White House stated that the 90-day delay in additional tariffs started on December 1st, correcting the notion that these would begin on January 1st, 2019.