Daily Market Updates

May 26, 2017

U.S. stocks traded mixed on a quiet Friday leading into the holiday weekend with Home Depot contributing most to losses and Goldman Sachs the most to gains.  The second read of first quarter GDP growth at 1.2% did little to encourage investors especially as second quarter estimates are being downgraded by the Fed and Wall Street banks.  Oil prices rebounded gaining nearly 2% while gold resumed it’s rally moving above $1270 for… Read More ›

May 25, 2017

U.S. stocks continued further into record territory Thursday with big technology companies leading all gainers.  Amazon and Google both made a run at $1,000 per share before backing off to hold about 1.5% higher on the day while energy companies lost ground due to a 5% pullback in oil prices.  Oil had been moving higher in anticipation of OPEC production limit extensions but investors were disappointed that a 9 month extension came… Read More ›

May 24, 2017

US stocks traded higher today as investors cheered the Federal Reserve’s plan for slowly scaling back its massive $4.5 trillion balance sheet.  With the release of the May 3rd meeting minutes, the Fed provided more clarity on their goal to trim the balance sheet while not locking themselves into a particular path.  The expectation for a June rate hike is now 83.1% though the central bank made clear they will tread carefully… Read More ›

May 23, 2017

U.S. stocks moved higher for the 4th straight session Tuesday nearly completing a recovery from last Wednesday’s sharp decline.  The Dow and S&P 500 were holding about a quarter percent higher in the last hour of trading with Goldman Sachs contributing most to gains.  Oil also continued its rally, adding about half a percent to recent gains while safe haven treasuries and gold lost ground.  President Trump’s budget proposal that cuts $3.6… Read More ›

May 22, 2017

U.S. stocks traded higher Monday extending the recovery since last Wednesday’s abrupt selloff sending the Nasdaq to yet another all-time high.  Energy and gold also continued higher on dollar weakness with oil above $51 for the first time since late April and gold holding above $1260 after trading near $1220 just two weeks ago.  Meanwhile treasuries were slightly lower with the 10 year yield up one basis point to 2.25%.  At the… Read More ›