Markets / Commentaries
Stock Market Today: August 19, 2019
William G. Ferguson and John E. Seibert III | 08/19/2019
The stock market started positively today, as a rebound from last week’s selloff continued. Additionally, the U.S. government extended the time that Chinese technology firm Huawei could buy supplies from U.S. companies for an additional 90 days. Investors viewed this as an easing of trade tensions between the two countries and, thus, bolstered the major market composites. All told, the Dow closed higher by 250 points, the S&P 500 rose by 35 points, and the NASDAQ gained 107 points.
Markets / CommentariesStock Market Today: August 16, 2019
Harvey S. Katz, CFA and Mario Ferro | 08/16/2019
The major U.S. equity indexes started the last session of a volatile trading week firmly in positive territory, and stocks ended the day up sharply. In economic news, the Commerce Department reported that housing starts were down 4%, to an annual rate of 1.19 million. However, building permits (a more forward-looking indicator) increased 8.4%, to a yearly rate of 1.34 million. The markets, though, largely looked past these numbers, and continued to bob and weave along with developments on the U.S.-China trade situation.
Stocks / HighlightsDow 30 Earnings: Walmart Inc. Fiscal Second Quarter 2019
Kevin Downing | 08/15/2019
Walmart shares trade modestly higher on the release of the retail giant’s solid fiscal second-quarter financial results and increased guidance.
Stocks / HighlightsDow 30 Earnings: Cisco Systems Fiscal Fourth Quarter 2019
Kevin Downing | 08/15/2019
Networking equipment and software provider Cisco Systems (CSCO) reported in-line results for the fiscal fourth quarter (year ended July 31st). However, guidance was below expectations and the shares are down moderately in response.
Markets / CommentariesStock Market Today: August 15, 2019
Harvey S. Katz, CFA and John E. Seibert III | 08/15/2019
While the early read on the futures indicated that yesterday’s selloff may continue, things turned around before the opening bell. News broke that China’s spokesperson at its foreign ministry “hopes the U.S. side will meet China halfway.” Traders took this to mean a potential softening of China’s trade stance and an increased likelihood of a deal. The market shot up quickly both in the premarket and early in the trading session. Still, the market could not hold these gains, so it fell and briefly traded in the red. All told, the Dow closed up 100 points, the S&P 500 rose by seven points, but the NASDAQ eased slightly, falling seven points.
Markets / CommentariesStock Market Today: August 14, 2019
Harvey S. Katz, CFA and Adam Rosner | 08/14/2019
Stocks turned sharply lower this morning, and encountered further selling during the midday hours, and into the afternoon. Investors were rattled by some disturbing developments in the bond market, which stoked fears of a possible economic slowdown or even a recession. Specifically, the yield on the government’s 10-year Treasury moved below the yield on the two-year note, creating a situation known as an inverted yield curve.
Markets / CommentariesStock Market Today: August 13, 2019
Harvey S. Katz, CFA and John E. Seibert III | 08/13/2019
The stock market started briefly in the red today, as a continuation of the protests in Hong Kong spooked global markets. But news that the United States has decided to delay implementing tariffs on China until December 15th, helped stocks turn around. All told, the Dow was higher by 373 points, the S&P was up by 43 points, and the NASDAQ climbed 153 points.
Markets / CommentariesStock Market Today: August 12, 2019
Robert M. Mitkowski and Adam Rosner | 08/12/2019
The stock market opened lower this morning, weakened further in the afternoon, but managed to recover some ground late in the session. Sentiment on Wall Street was quite negative today, as investors worried that a prolonged trade dispute between the U.S. and China could potentially lead to a global slowdown. Further, political tensions in Hong Kong seem to be of some concern at this point. At the end of trading today, the Dow Jones Industrial Average was down 391 points; the broader S&P 500 Index was off 36 points; and the NASDAQ was lower by 96 points.
Markets / CommentariesStock Market Today: August 9, 2019
Harvey S. Katz, CFA and Robert Mitkowski | 08/09/2019
Stocks closed lower on Friday, ending a week that featured high volatility. Today’s market action mirrored that of the past several sessions in that there were sharp moves, up and down, and investors showed a more cautious inclination.