Markets / Commentaries
Stock Market Today: June 24, 2016
Harvey S. Katz, Adam Rosner, Simon Shnayder | 6/24/2016
The major U.S stock market indexes plunged today in the biggest daily decline in several years, as the U.K.’s historic decision to leave the European Union roiled financial markets around the globe. Following the results of the EU referendum, British Prime Minister David Cameron put forth his resignation. Meanwhile, the unexpected result destabilized economic expectations and spurred record plunges in the pound and European bourses.
Markets / CommentariesStock Market Today: June 23, 2016
Harvey S. Katz, William G. Ferguson, and Adam Rosner | 6/23/2016
The stock market got off to a strong start this morning, and was able to extend its gains notably through the afternoon. It should be noted that today, Britain decides on whether, or not, it will stay part of the European Union. For the most part, traders probably prefer that Britain remains a part of the EU, and the market seems to have figured on that outcome. It should be mentioned that should a different result come to pass, stocks may well display initial weakness. At the close of trading in New York, the Dow Jones Industrial Average was ahead 230 points; the broader S&P 500 Index was up 28 points; and the technology heavy NASDAQ was higher by 77 points.
Markets / CommentariesStock Market Today: June 22, 2016
Harvey S. Katz, William G. Ferguson, Simon Shnayder | 6/22/2016
The major U.S stock market indexes were volatile throughout the day, fluctuating between modest gains and similar losses as investors attempted to weigh the effects of the upcoming vote that will decide whether the U.K. elects to leave the European Union. Although most market participants believe the move would add considerable uncertainty to the global economy, the most recent polls have tilted slightly in favor of an exit.
Markets / CommentariesStock Market Today: June 21, 2016
Harvey S. Katz and Adam Rosner | 6/21/2016
The U.S. stock market put in a choppy, but somewhat constructive, session today. At the close of trading, the Dow Jones Industrial Average was ahead 25 points; the broader S&P 500 Index was up six points; and the technology heavy NASDAQ was higher by seven points. Market breadth was slightly positive, with advancers just ahead of decliners on the NYSE.
Markets / CommentariesStock Market Today: June 20, 2016
William G. Ferguson, Adam Rosner, and Robert Mitkowski | 6/20/2016
Stocks finished off their highs today but still enjoyed a strong session on word that the latest polls indicate less of a chance Great Britain will vote to leave the European Union. At the close, the Dow Jones Industrial Average was 130 points higher; the NASDAQ gained 37 points; and the S&P 500 pushed ahead 12 points. Market breadth affirmed the bullishness, with the advance-decline line on the Big Board showing a three-to-one margin of gaining stocks over losers. On the NASDAQ, rising stocks topped falling issues by more than two to one.
Markets / CommentariesStock Market Today: June 17, 2016
Harvey S. Katz, William G. Ferguson, and Adam Rosner | 6/17/2016
The U.S. stock market moved lower this morning, pared its losses considerably in the early afternoon, but retreated again in the final hour of the session, particularly the NASDAQ. All told, the Dow Jones Industrial Average was down 58 points; the broader S&P 500 Index was off seven points; and the NASDAQ was lower by 45 points.
Markets / CommentariesStock Market Today: June 16, 2016
Harvey S. Katz, Simon Shnayder, and Adam Rosner | 6/16/2016
Equities moved sharply lower this morning, but then reversed course and headed higher through the afternoon. At the end of the session, all the major averages had settled in positive territory. The Dow Jones Industrial Average was ahead 93 points; the broader S&P 500 Index was up seven points; and the NASDAQ was higher by 10 points.
Markets / CommentariesThe Federal Reserve Votes To Keep The Federal Funds Rate Target Unchanged
Harvey S. Katz | 6/15/2016
The Federal Reserve concluded its latest Federal Open Market Committee meeting within the past hour and, as expected, voted to keep its interest rate target unchanged at 0.25 percent to 0.50 percent. The vote was unanimous.
Markets / CommentariesIndustrial Production And Factory Use Falter In May; The Producer Price Index Rises In May(2)
Harvey S. Katz | 6/15/2016
The two-steps forward, one step backward pattern of the durable U.S. economic expansion continues in place. On point, just one day after the government reported a solid increase in retail sales for the latest month and several days after another decent reading on initial jobless claims was registered, the Commerce Department issued data this morning affirming that industrial production had backtracked modestly in May.