Daily Market Updates

July 21, 2016

After 9 consecutive days higher that included a number of new all-time highs for both the Dow & S&P 500 there was bound to be a day of profit taking and that day was today.  Another 3% drop in oil is getting some of the blame but over the past couple of weeks the market has been ignoring a slide in oil prices so it was likely just some profit taking. The… Read More ›

July 20, 2016

Despite a plethora of quarterly earnings reports from numerous sectors of the economy the S&P 500 came into today with a gain of just 2 points for the week.  Today the earnings tsunami continued with several strong reports pushing the Dow & S&P 500 to new all-time intraday highs at the open. The Dow opened +50 and stayed there all day. At the close: DOW +36 to 18595 S&P +9 to 2173… Read More ›

July 19, 2016

After weeks of record highs for stocks, Wall Street took a pause Tuesday as investors digested a number of second quarter earnings releases. Bank earnings continued to surprise with Goldman Sachs posting better-than-expected results Tuesday. Goldman now joins Citigroup, JPMorgan Chase, and B of A on the list of big U.S. financial institutions topping second quarter estimates. On the data front, at a pace of 1.19 million units, U.S. housing starts came… Read More ›

July 18, 2016

U.S. Stocks closed at record highs Monday as investors embraced better-than-expected earnings releases and news of M & A activity. Wall Street is coming off three weeks of gains in the major indices with the Dow extending its winning streak to seven straight days logging another record close Monday. On the data front, home builder sentiment fell 1 point in July and China home prices slowed for a second straight month in… Read More ›

July 15, 2016

US stocks took a breather today following the terror attacks in France overnight and as investors continue to digest economic data and earnings releases.  In US economic reports, retail sales beat economists’ expectations, the Index of Consumer Sentiment was reported lower so far this month, weekly jobless claims showed no change week over week and the producer price index reading came in better than expected.  At the end of the day, the… Read More ›