Markets / Commentaries
Stock Market Today: November 21, 2017
Harvey S. Katz, CFA, Mario Ferro, and Robert Harrington | 11/21/2017
Led by a surge in technology stocks, the U.S. stock market pressed higher on Tuesday. Each of the major large-cap indexes set new intraday trading highs, with the NASDAQ 100 posting the biggest single-day advance. After a two-week streak of profit taking, this holiday-shortened week’s optimism has been driven a strong corporate earnings season, solid economic indicators, and a cautiously affirmative belief that tax reform will be close to implementation by the end of the year.
Markets / CommentariesStock Market Today: November 20, 2017
William G. Ferguson, Robert Mitkowski, and Adam Rosner | 11/20/2017
The stock market managed to make some progress today, as we commenced a new week on Wall Street. At the close of trading, the Dow Jones Industrial Average was ahead roughly 72 points; the broader S&P 500 Index was up three points; and the technology heavy NASDAQ was higher by nearly eight points. Market breadth was positive, with winners ahead of losers on the NYSE.
Markets / CommentariesStock Market Today: November 17, 2017
Harvey S. Katz, CFA, Adam Rosner, and Robert Harrington | 11/17/2017
Though lingering concern about tax reform led to a mostly negative day for the large-cap indexes, market breadth favored the bulls on Friday. The Russell 2000 added roughly 7 points during the session, while advancing shares outnumbered declining issues by a 1.8to-1.0 margin. Strength was found mostly in the cyclical consumer goods, basic materials, and energy sectors, which helped to offset selling in the utility and noncyclical sectors.
Stocks / HighlightsDow 30 Earnings: Wal-Mart Stores Fiscal Third Quarter 2017
Kevin Downing | 11/16/2017
Shares of Wal-Mart (WMT) gain following the release of the company’s fiscal third-quarter results and guidance.
Stocks / HighlightsDow 30 Earnings: Cisco Systems First Quarter Fiscal 2018
Kevin Downing | 11/16/2017
Networking equipment and software vendor Cisco Systems (CSCO) has reported in-line results for the October-quarter. Revenue of $12.1 billion fell 2% year over year, matching our estimate. Overall, product sales decreased 3%, while service revenue rose 1%. Earnings per share of $0.61 were flat compared to last year and beat our call by a penny.
Markets / CommentariesStock Market Today: November 16, 2017
Harvey S. Katz, CFA and Adam Rosner | 11/16/2017
The stock market moved strongly higher this morning, and managed to maintain these gains through the afternoon. Of note, a batch of solid corporate profit reports likely helped fuel today’s advance. At the end of trading, the Dow Jones Industrial Average was up 187 points; the broader S&P 500 Index was ahead 21 points; and the NASDAQ was higher by 87 points.
Markets / CommentariesStock Market Today: November 15, 2017
Harvey S. Katz, CFA, Robert Mitkowski, and Robert Harrington | 11/15/2017
U.S. equities struggled on Wednesday, with declining shares outnumbering advancing issues from bell to bell. The bull market continues to face some turbulence as a decline in oil prices and ongoing uncertainty regarding tax reform conspired to bring the large-cap indexes lower during the session. There were notable selloffs in the non-cyclical consumer goods, energy, technology, and utilities sectors, while only telecommunications stocks were able to muster a meaningful aggregate advance.
Stocks / HighlightsDow 30 Earnings: The Home Depot Fiscal Third Quarter 2017
Matthew E. Spencer | 11/14/2017
Shares of The Home Depot were little changed after the home-improvement retailer delivered solid fiscal third-quarter financial results.
Markets / CommentariesStock Market Today: November 14, 2017
Harvey S. Katz, CFA, Mario Ferro, and Adam Rosner | 11/14/2017
Stocks got off to a weak start in the morning, and were unable to stage a meaningful recovery in the afternoon. At the end of trading, the major averages were stuck in negative territory. The Dow Jones Industrial Average was down 30 points; the broader S&P 500 Index was off six points; and the NASDAQ was lower by almost 20 points. Market breadth showed a negative bias to the session, with losers outpacing winners on the NYSE. Essentially, all of the major stock sectors lost ground. There was notable weakness in the energy and basic materials issues, accompanied by falling crude oil prices.