Daily Market Updates

July 27, 2017

U.S. Stocks traded between gains and losses Thursday, pulling back from record highs after investors took profits in the technology sector. Uncertainty about what tax reform might look like grew Thursday after Paul Ryan said that a border adjustment tax is now off the table.  In economic news, weekly jobless claims came in at 244,000 and durable goods orders for June rose 6.5%.  The data was released a day after the Federal… Read More ›

July 26, 2017

As more companies continued to report strong quarterly results, U.S. Stocks traded mostly higher Wednesday, helping all three major indexes hit record intraday highs. Wall Street also braced itself for a monetary policy announcement from the Federal Reserve.  At the conclusion of their two-day meeting, the Central Bank kept interest rates unchanged and laid the groundwork for winding down its massive stimulus program in September.  In economic news, mortgage applications rose .4%… Read More ›

July 25, 2017

After a slew of better-than-expected earnings releases from major companies, U.S. Stocks traded higher Tuesday.  The S&P 500 hit a record high shortly after the open, with financials and energy rising more than 1% to lead advancers.  Wall Street also set their sights on the Federal Reserve, as the Central Bank kicked off their two-day monetary policy meeting and is largely expected to keep interest rates unchanged in July.  In economic news,… Read More ›

July 24, 2017

U.S. Stocks traded mixed Monday as Wall Street geared up for a major week of earnings releases and news out of the Federal Reserve where the Central Bank is expected to keep interest rates unchanged.  Approximately 180 S&P 500 components are scheduled to report this week, including tech giants Facebook, Amazon, and Google-parent Alphabet.  In economic news, the IHS Markit Flash US Composite PMI hit its highest level in six months, and… Read More ›

July 21, 2017

Though the markets closed slightly lower today, the three major indices notched to record highs for the week as quarterly earnings from SP500 companies largely outperformed expectations.  Next week will be the busiest one of this earnings season with about 170 SP500 components scheduled to report.  Investors will also turn their eyes towards Russia as OPEC and non-OPEC countries meet to discuss compliance of agreed production cuts and how to bring down… Read More ›