Daily Market Updates

August 19, 2016

With utilities dropping more than 1 percent, U.S. stocks turned lower Friday as investors digested hawkish comments from Federal Reserve officials and kept an eye on oil prices.  According to the CME Group’s FedWatch tool, market expectations for a rate hike in September were just 18% and 43% for December.  In a speech Thursday afternoon, San Francisco Fed President John Williams signaled his support for a rate hike in the near future… Read More ›

August 18, 2016

U.S. equities traded close to even most of the day in spite of oil surging more than 2%.  In economic data, weekly jobless claims fell slightly to 262,000, August Philadelphia Fed business index report met expectations, and leading indicators rose a slightly better than expected 0.4 percent last month. Dow + 23 to 18,597 S&P 500 + 5 to 2187 Nasdaq + 11 to 5240 Gold + $10 to $1358 an ounce… Read More ›

August 17, 2016

Stocks traded about even most of the day after opening lower this morning, with the Dow making a comeback from an early loss of about 80 points.  U.S. Treasurys traded higher after the Fed minutes were released, with the two-year note at 0.73 percent and the 10-year at 1.56 percent.  In other words, no fireworks from the Fed at least for the time being. Dow + 22 to 18,552 S&P 500 +… Read More ›

August 16, 2016

Stocks traded mostly lower today following yesterday’s record setting session as investors await tomorrow’s release of minutes from the Fed’s July meeting. Some observers also credit the pullback to comments made this morning by Fed President Bill Dudley that we are moving closer to a rate increase. Dow – 84 to 18,552 S&P 500 – 12 to 2178 Nasdaq – 35 to 5227 Gold + $6 to $1353 an ounce Oil ended… Read More ›

August 15, 2016

US stocks traded broadly higher today in spite of generally soft economic data making new records in all three major indices.  Materials and energy led the way with oil prices surging more than 2% on continued speculation that OPEC may agree to limit production later this year or in early 2017. Dow + 59 to 18,635 S&P 500 + 6  to 2190 Nasdaq + 29 to 5262 Gold + $2 to $1345… Read More ›