Daily Market Updates

September 22, 2017

A low volume 52 point sell off yesterday was enough to give us the first down day for the Dow Industrial average in 2 weeks and today the market edged lower as North Korea is once again making threats.  Thus far, these Rocketman dips have been taken as buying opportunities. The Dow opened -25 At the close: DOW -10 to 22350 S&P +2 to 2502 NASDAQ +4 to 6427 OIL flat @… Read More ›

September 21, 2017

U.S. equities took a break from setting daily new all-time highs Thursday as markets consider possible ramifications of tighter Fed policy going forward.  Odds of a December rate hike have risen above 70% and balance sheet reductions at the Fed have never been attempted.  Even so, markets are holding up well down less than half a percent on the day.  Meanwhile, the dollar is continuing higher forcing gold under $1300 for the… Read More ›

September 20, 2017

U.S. equities traded mixed Wednesday with Apple leading decliners on slow IPhone sales and financials leading advancers on Yellen’s comments that were seen as more hawkish than expected.  While keeping short term interest rates unchanged she announced that balance sheet reduction would begin in October and that there could be another rate increase in December.  That sent long term yields higher with the 10 year treasury ending at 2.28% and the Dollar… Read More ›

September 19, 2017

U.S. equities rose on Tuesday as the Fed kicked off it’s two-day policy meeting during which they are not expected to raise interest rates but may announce plans to reduce it’s $4.5 trillion balance sheet.  The Dow hit a record shortly after the open and was holding about 40 points higher in the final hour of trading and the S&P 500 also moved slightly higher with telecommunications and financials leading advancers.  Meanwhile, oil fell about three… Read More ›

September 18, 2017

The major indices hit new record highs for another day as investors prepare themselves for the start of the Federal Reserve’s meeting this week. Market participants are largely expecting interest rates to remain unchanged but also expect the Fed to announce the unwinding of its $4.5 trillion balance sheet. Financials led the way higher ahead of the Fed meeting, with the Financial ETF closing up over 1%. At the end of the… Read More ›