Markets / Commentaries
Stock Market Today: July 2, 2020
Harvey S. Katz, CFA | 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.
Markets / CommentariesStock Market Today: July 1, 2020
Harvey S. Katz, CFA | 07/01/2020
The second quarter concluded yesterday, and what a three-month stretch it was. On point, after a woeful first three months, which had been severely impacted by the fast-spreading coronavirus, the stock market righted itself from April through June, securing the best quarterly performance since 1987 for the Dow Jones Industrial Average. For the NASDAQ, it was the finest showing since 1999, or before the dot.com bubble of 2001 burst, with that composite soaring above 10,000 for the first time ever.
Markets / CommentariesStock Market Today: June 30, 2020
Mario Ferro | 06/30/2020
U.S. stocks began the holiday-shortened trading week with a sharp move higher. Strong housing data helped kick start the day into high gear. This good news was enough to outweigh concerns over COVID-19 flare-ups in several states, which forced local governments to put reopening plans on hold, or even take a few steps back. As we look to the new day, U.S. stock futures are suggesting the major indexes will open with a modest decline.
Markets / CommentariesStock Market Today: June 29, 2020
William G. Ferguson | 06/29/2020
As we are set to begin the penultimate trading day of June, the main theme on Wall Street this month has been the return of volatility to the market. Recall that the 30-day stretch started on an upbeat note, with optimism that the U.S. economy was reopening across the country and a much better-than-expected employment and unemployment data for the month of May pushing equities higher.
Markets / CommentariesStock Market Today: June 26, 2020
Harvey S. Katz, CFA | 06/26/2020
It has been a volatile week on Wall Street thus far, with moderate gains posted on Monday and Tuesday and a big setback on Wednesday before an uneven session ended on a high note yesterday. As for these up-and-down moves, the week started out with some optimism expressed about the accelerating pace of business reopening endeavors. By Wednesday, however, escalating rates of COVID-19 infections had turned the tide and in that one session alone, the Dow Jones Industrial Average would plummet by 710 points, the largest single-session setback in two weeks.
Markets / CommentariesStock Market Today: June 25, 2020
Harvey S. Katz, CFA | 06/25/2020
The stock market, which has been on a bullish tear for the past three months, after ending its painful slide on March 23rd, suddenly hit a brick wall yesterday. The Dow closed off by 710 points, the S&P 500 ended down by 81 points, and the NASDAQ suffered a 222-point loss. The culprit seems to be the pickup, and plateauing of new COVID-19 cases across many states. Looking out to a new day now, and after some choppy early trading in the U.S. equity futures last evening, the key indexes now are pointing to an underwhelming start when trading resumes later this morning.
Markets / CommentariesStock Market Today: June 24, 2020
Harvey S. Katz, CFA | 06/24/2020
The stock market, fresh off of an opening week win for the bulls on Monday, moved out to an early advance in the trading session yesterday morning. That initial firming followed an up-and-down session in the pre-market hours Monday evening. On point, in an interview on a cable news channel at that time, the Administration's key trade advisor indicated that the well-celebrated Phase I trade deal with China had come undone. That was quickly countered by the President who said the agreement was still intact.
Markets / CommentariesStock Market Today: June 23, 2020
John E. Seibert III | 06/23/2020
The stock market spent much of Monday trending higher, as equity prices gained from traders betting on an improvement in the economy over the coming months. The U.S. futures are pointing up, and the market will likely be spurred by economic issuances, hopes for a coronavirus vaccine, and could be impacted by news related to U.S.-China trade relations.
Markets / CommentariesStock Market Today: June 22, 2020
William G. Ferguson | 06/22/2020
The last fortnight of trading on Wall Street has been an up-and-down affair for investors. The first five trading days went to the bears, punctuated by a one-day drop of more than 1,860 points for the Dow Jones Industrial Average on June 11th. That setback resulted in a big week for the bears, with the aforementioned Dow 30 and the S&P 500 falling more than 5% each for the week ending June 12th.