Markets / Commentaries
Stock Market Today:August 3, 2020
William G. Ferguson | 08/03/2020
The last five-day stretch of trading on Wall Street followed a similar script to what we saw during much of the month of July. That being a mixed performance for equities. Investors were forced to digest a number of big headlines (some encouraging, some disquieting) and that likely played a big role in the uneven performance for the U.S. equity market over the course of the week.
Markets / CommentariesStock Market Today: July 31, 2020
Harvey S. Katz, CFA | 07/31/2020
The up-and-down pattern continues on Wall Street. To wit, after nice stock market wins on Monday and Tuesday, which were sandwiched around a decline on Tuesday, equities fell sharply yesterday morning. The increases this week had come on optimism about earnings and the economy. The earlier setback was likely caused by COVID-19 infections being the prime focus that day. Then, yesterday morning, stocks fell back sharply. Several apparent reasons could be pointed to for the latest setback.
Markets / CommentariesStock Market Today: July 30, 2020
Harvey S. Katz, CFA | 07/30/2020
The choppiness on Wall Street is continuing. On point, after back-to-back losses in the stock market to end last week, equities began the current five-day span to the upside on Monday. However, things deteriorated again on Tuesday when the Dow Jones Industrial Average fell by 205 points on weak economic numbers on the consumer confidence front. Encouragingly though, the bulls came back to the battle yesterday, buoyed by expectations that the Federal Reserve would have reassuring words for investors when it concluded its FOMC meeting.
Markets / CommentariesStock Market Today: July 29, 2020
Harvey S. Katz, CFA | 07/29/2020
After back-to-back declines in the leading equity indexes late last week, Wall Street returned to its winning ways on Monday, as the Dow Jones Industrial Average, the S&P 500 Index, and the NASDAQ all advanced nicely on renewed strength in technology stocks. However, a subpar quarterly issuance from Dow component McDonald's Corp. (MCD) and some dour economic news combined to again take the measure of the bulls yesterday morning. Throw in some further angst on the COVID-19 front, and the market was into an early selloff.
Markets / CommentariesStock Market Today: July 28, 2020
John E. Seibert III | 07/28/2020
The stock market started the trading week on a positive note, as earnings data began to flow in, and trader sentiment about the economy and the coronavirus improved. Looking to the day ahead, the U.S. equity futures were mixed overnight and are now pointing to a lower opening. However, we imagine earnings news will drive stock market performance today.
Markets / CommentariesStock Market Today: July 27, 2020
William G. Ferguson | 07/27/2020
Before the market’s open, the equity futures point to a modestly higher opening for the U.S. stock market. Ahead of a busy week of earnings data from Corporate America and a Federal Open Market Committee Meeting, investors are hoping for some positive news on the economic stimulus front. Also helping stocks stateside are signs—despite an increase in nationwide COVID-19 cases—that new coronavirus cases are slowing in some U.S. states, including in those that had recently been hard-hit by a resurgence in infections.
Markets / CommentariesStock Market Today: July 24, 2020
Harvey S. Katz, CFA | 07/24/2020
A sobering economic report showing an increase in weekly level of new jobless filings, the tepid increase in the Leading Economic Indicators, and of course, the fast-spreading COVID-19 pandemic, were only slightly mitigated by relatively decent earnings results to date, causing the major market averages to close Thursday’s session in the red. Looking out to the new day and after slight gains in the futures last evening, we see that the equity futures are suggesting a lower opening this morning.
Markets / CommentariesStock Market Today: July 23, 2020
Harvey S. Katz, CFA | 07/23/2020
The stock market, which continued its winning ways to start this week, with moderate improvement on Monday and Tuesday, ended the middle session of the week on an up note. A good existing home sales report and news surrounding a COVID-19 vaccine helped boost stocks. Too, some positive earnings reports and following the reasonably positive performance by the equity market yesterday, the futures are now pointing to a further uptick when stocks open this morning.
Markets / CommentariesStock Market Today: July 22, 2020
Harvey S. Katz, CFA | 07/22/2020
Wall Street pressed forward notwithstanding the increasing toll from COVID-19, the stock market got off on the right foot to start this #trading week. However, the major market averages closed on a mixed note on Tuesday. Earnings season is heating up and may influence the coming sessions. Looking to the day ahead, the equity futures are mixed, albeit showing little overall movement heading into today’s session.