Featured Commentary


Daily Updates/ Market Daily Updates

Stock Market Today: July 2, 2020

07/02/2020 Yesterday, stocks came out of the gate going immediately to the upside following some choppy trading in the pre-market, to start the third quarter. Still, the major market averages closed the day on a mixed note. This morning, the Labor Department’s non-farm payrolls release reported that the nation added a larger-than-expected 4.8 million jobs in June. Looking ahead to today’s session, the equity futures, already up sharply in the pre-market have gained further, setting up a strong opening in a few minutes.
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Daily Updates/ Market Daily Updates

Stock Market Today: May 6, 2020

05/06/2020 Looking out at a new day now, and after a second win for the bulls in as many days, we see that the stock market is poised to open this morning to the upside on optimism about the pending reopening of the economy. And fears about a second wave of coronavirus cases, as restrictions on the business community are loosened, which could prompt new disease outbreaks, may hold stocks back from even bigger gains. Plus, Wall Street may have concerns now about rising tensions between the United States and China, as our country has been threatening new tariffs on China over its handling of the coronavirus epidemic.
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Daily Updates/ Market Daily Updates

Stock Market Today: April 29, 2020

04/29/2020 After a strong start to the new trading week on Wall Street on Monday, as equity investors looked forward to the selective re-opening of the country, stocks moved out to further gains in early dealings yesterday morning. Once more, it was cautious optimism on the reopening front, as states such as Georgia, South Carolina, and Texas commence the reopening process. Constructive earnings results from health care giants such as Merck (MRK) and Pfizer (PFE) also helped the bullish cause, as the Dow Jones Industrial Average went out to nearly a 400-point first-hour advance.
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Highlights/ StockHighlights

Dow 30 Earnings: Pfizer Fourth Quarter 2019

01/28/2020 New York-based drugmaker and Dow-30 component Pfizer (PFE) reported a fourth-quarter GAAP loss of $0.06 a share, versus a $0.07 deficit in the comparable period of 2018. The modest year-over-year improvement was driven by lower production costs (-15%) and a significant reduction in restructuring charges (-48%), which helped mitigate increases in R&D (+15%) and SG&A expenses (+6%), and a 9% pullback in revenues (more below). Meantime, adjusted earnings, which exclude one-time gains, losses and other nonrecurring items, and are more closely followed by Wall Street, came in at $0.55 a share, versus $0.63 in Q4, 2018. The adjusted tally missed consensus expectations looking for $0.58 on average, owing in part to a roughly $40 million miss on the top line. Shares of PFE were trading a few percentage points lower on the release. 
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Daily Updates/ Market Daily Updates

Stock Market Today: November 18, 2019

11/18/2019 The futures market started positively, as an interest-rate cut in China buoyed the S&P 500 futures to an all-time high. The accommodative policy was seen as a positive by many traders. But by the time the stock market opened, this move higher was erased, as concerns about U.S. trade negotiations with China took hold. The Dow, S&P 500, and NASDAQ reached all-time highs during the session. Then, the composites tapered off in the final portion of trading and ended not too far off of breakeven levels. All told, the Dow closed higher by 31 points, the S&P 500 finished up two points, and the NASDAQ.
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Daily Updates/ Market Daily Updates

Stock Market Today: October 30, 2019

10/30/2019 Equities traded in a sideways range earlier today, but turned nicely higher after 2PM (EDT) following the Federal Reserve’s interest rate announcement. The central bank chose to cut interest rates by another 0.25%, making this the third reduction this year. However, the bank hinted that further easing may not be easily forthcoming. While Wall Street seemed pleased with the news, the market’s reaction was somewhat subdued at first.
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Highlights/ StockHighlights

Dow 30 Earnings: Pfizer Third Quarter 2019

10/29/2019 New York-based drugmaker and Dow-30 component Pfizer (PFE) reported third-quarter GAAP earnings of $1.36 a share, versus $0.69 in the comparable period of 2018. The sharp year-over-year improvement can be largely attributed to an $8.1 billion gain tied to the closing of the company's consumer health joint venture with GlaxoSmithKline. The comp received additional support from reductions in production and SI&A expenses, helping to offset a double-digit increase in R&D costs and lower revenues. Meantime, adjusted earnings, which exclude one-time gains, losses, and other nonrecurring items, and are more closely followed by Wall Street, came in at $0.75 a share, versus $0.77 in Q3, 2018.
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Daily Updates/ Market Daily Updates

Stock Market Today: July 30, 2019

07/30/2019 The marketsstarted out negatively today, as a few worrisome earnings reports from companies were released both yesterday and before the bell this morning. These chilled the market some. Additionally, concerns increased about U.S. trade negotiations with China, due to fears regarding the timing and even likelihood of an eventual deal. All told, the Dow closed down 23 points, the S&P 500 finished lower by eightpoints, and the NASDAQ fell 37 points.
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Highlights/ StockHighlights

Dow 30 Earnings: Pfizer Second Quarter 2019

07/29/2019 New York-based drugmaker and Dow-30 component Pfizer (PFE) reported second-quarter GAAP earnings of $0.89 a share, versus $0.65 in the comparable period of 2018. The year-over-year improvement was fueled primarily by reduced production costs (-12%) and lower taxes, which helped to offset a modest decline in total revenues. Meantime, adjusted earnings, which exclude one-time gains, losses, and other nonrecurring items, and are more closely followed by Wall Street, came in at $0.80 a share, versus $0.77 in Q2, 2018.
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