Markets / Commentaries
Stock Market Today: October 23, 2020
Harvey S. Katz, CFA | 10/23/2020
Wall Street trading got under way yesterday with a bevy of economic reports being issued in rapid succession. First, the Labor Department said that first-time jobless claims had come in better than forecast falling below 800,000 for the first time since March, or when COVID-19 was first making its deadly appearance.
Markets / Commentaries
Stock Market Today: October 22, 2020Harvey S. Katz, CFA | 10/22/2020
It has been a seesaw week on Wall Street to date in a thoroughly inconsistent year. On point, we saw some notable backtracking in the popular averages on Monday and a little relief on Tuesday, although the gains were whittled away by the close. The big issue at hand thus far has been the effort to get a new stimulus deal in hand. As yet, no deal has been brokered.
Markets / Commentaries
Stock Market Today: October 21, 2020Harvey S. Katz, CFA | 10/21/2020
Once more yesterday, optimism on the fiscal stimulus front was on the rise. And that sentiment gave stocks an early lift. On point, one day after some initial bullishness had been seen in that area, only to be dashed by a return to late-in-the day pessimism, the bulls were at it again and stocks were on the rise. To recap, after several weeks of back and forth on the stimulus side, House of Representatives Speaker Nancy Pelosi put in a 48-hour deadline on reaching a pact in Congress.
Markets / Commentaries
Stock Market Today: October 20, 2020Adam Rosner | 10/20/2020
The U.S. stock market retreated late in the session yesterday, but seems positioned to recapture some of that ground today. To wit, the U.S. equity futures are up sharply, signaling a higher opening.
Markets / Commentaries
Stock Market Today: October 19, 2020William G. Ferguson | 10/19/2020
The most recent five-day stretch of trading started and ended well for the bulls, but in between, the bears were in control and volatility was on display. The market remains on edge ahead of the upcoming Presidential election, which is now just a fortnight away, and with uncertainty about whether a much-needed economic fiscal stimulus package will come prior to Election Day. In addition to those events, trading is being driven by the start of third-quarter earnings season, which has initially been a mixed affair for Corporate America.
Markets / Commentaries
Stock Market Today: October 16, 2020Harvey S. Katz, CFA | 10/16/2020
After slumping in September and then opening the often volatile, but usually rewarding, month of October in a solid recovery mode, the stock market has had some of the wind taken out of its sails during the past three sessions. The equity market, it would seem, has been rattled by a combination of factors.
Markets / Commentaries
Stock Market Today: October 15, 2020William G. Ferguson | 10/15/2020
The current trading week on Wall Street started out on a positive note, with the major averages posting nice gains on Monday. However, the bulls have been quiet since, with the indexes retracing those advances and then some over the last two days. Before the market’s open, the equity futures point to a continuation of the selling that picked up at the end of yesterday’s session. The primary culprit is COVID-19.
Markets / Commentaries
Stock Market Today: October 14, 2020Harvey S. Katz, CFA | 10/14/2020
Following a stellar start to an often volatile, but frequently rather positive, month of October, including another sizzling performance on Monday, the stock market took a modest step back yesterday, with losses in the Dow Jones Industrial Average, the S&P 500 Index, and the NASDAQ. Much of the shortfall, which came to 158 points in the Dow, reflected some softness in the financial and industrial sectors. Still, even after yesterday's setback, the blue chips still are just about flat on the year, despite a monumental collapse in late March as the coronavirus swept the globe.
Markets / Commentaries
Stock Market Today: October 13, 2020Robert Mitkowski | 10/13/2020
Stocks jumped out of the gate to start the week on Monday, partly on optimism that corporate profit trends would show relative improvement compared to earlier this year. Less than an hour before trading begins, stocks appear set for a mixed opening, with lingering strength in the tech sector. But news regarding some vaccine delays seems to be keeping a lid on enthusiasm.