Stock Market Today

Monday, October 14 2019

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Stock Market Today: October 14, 2019

William G. Ferguson and John E. Seibert III | 10/14/2019

The stock market started in the red today, as doubts crept in about the Phase I trade deal between the U.S. and China. A news report stated that China wants another round of talks before signing to iron out a few key details. The market had risen considerably last Friday due to the traders' belief that a deal had been finalized, so this uncertainty hurt sentiment. The Dow Jones Industrial Average was down by as many as 67 points, while the other indices were down in tandem. However, sentiment improved after the initial move down, and the composites moved slightly into the green. The Dow was up by as many as 58 points, and the market moved higher in general. The rest of the day could be characterized by choppiness ahead of tomorrow’s earnings reports. Overall, the Dow closed down 29 points, and the S&P 500 was lower by four points.

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Dow 30 Earnings: NIKE, Inc. First Quarter Fiscal 2020

Erik M. Manning | 09/25/2019

NIKE a Dow-30 component that engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services, has reported fiscal 2020 first-quarter (ended August 31st) financials that surpassed expectations on both the top and bottom lines. The report included a jump in sales to China that the investment community certainly was pleased with. As a result, NKE stock rose more than 5% in afterhours trading and eclipsed the $90-a-share mark for the first time in its storied history.

The Federal Reserve Reduces Interest Rates Once More

Harvey S. Katz, CFA | 09/18/2019

In a widely telegraphed and, therefore, fully expected move, the Federal Reserve Board voted to reduce its federal funds rate target by another 25 basis points this afternoon. That was the second such rate cut in as many meetings and followed a decade in which there had been no reductions--only increases in 2017 and 2018.

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