Daily Market Updates

April 21, 2017

Stocks were little changed today following Thursday’s big rally that was sparked by renewed hopes of major tax reforms.  Markets briefly turned positive again this afternoon when President Trump told The Associated Press his administration will unveil a “massive tax cut” plan without giving specifics on timing.  Oil continued lower today falling an additional 2% making this week one of the worst in the past several months while treasury prices remained steady… Read More ›

April 20, 2017

Stocks traded broadly higher Thursday on comments from Treasury Secretary Mnuchin who said the administration was close to “major tax reform.”  This was a reversal from comments made earlier this week sending the major indexes higher by about 1% while treasury prices fell with the 10Yr yield rising four basis points to 2.24%.  That yield is still well below recent levels raising questions about whether or not the Fed will raise rates… Read More ›

April 19, 2017

Stocks traded mostly lower Wednesday as IBM weighed on markets falling 5% after reporting its 20th straight quarter of lower year on year revenues.  Oil also dropped more than 3% pulling energy stocks lower while financials rallied on strong earnings at Morgan Stanley.  Treasury yields that have been falling sharply over the past several weeks ended 2 basis points higher at 2.2% while the dollar index rose slightly.  At the end of… Read More ›

April 21 , 2017

US stocks closed lower for the day as earnings were front and center with investors.  The Dow suffered more of a loss for the day, weighed down by Goldman Sachs and John & Johnson, both companies missing earnings estimates.  Investors also remain vigilant amid US-North Korea tensions and the nearing of the French presidential election.  At the end of the day, the major averages closed in the red across the board: DOW  -113… Read More ›

April 17, 2017

US stocks closed with solid gains today, breaking a 3 day losing streak, as a weekend filled with geopolitical worries ended more calmly than expected and the focus of investors shifted to strong expectations for the 1Q’s earnings season.  Wall Street is expecting the best earnings season since 2011.  At the end of the day, the major indices closed in the green across the board at near the highs of the day:… Read More ›