Daily Market Updates

October 17, 2016

Stocks rose today, helped by stronger-than-expected earnings reports and somewhat tame inflation data.  The Dow Jones rose more than 100 points before holding about 80 points higher in mid day trading with UnitedHealth contributing the more than half of the index gains.  Goldman Sachs continued a strong earnings season for the big banks, easily beating estimates on both the top and bottom line while Johnson & Johnson shares lost 2.6% in spite of reporting… Read More ›

October 17, 2016

US stocks closed slightly lower today, amid falling oil prices, as investors digested a number of corporate earnings reports, key economic data and remarks from a key Federal Reserve official. In economic news, industrial production data came in slightly below estimates and the New York Fed’s Empire State business condition showed manufacturing in the state contracted for the third straight month. The markets will watch earnings season closely to see the state… Read More ›

October 14, 2016

U.S. stocks were given a lift today from better than expected banking profits and surprisingly dovish comments from Fed chair Janet Yellen. In a speech this afternoon Yellen said the Fed might want to let inflation run hotter for a while contradicting recent comments from other Fed members who feel it’s time to slow inflation by hiking rates now. Treasury yields fell in response but reversed course pushing the 10 year note… Read More ›

October 13, 2016

U.S. stocks started the day with a big selloff sending the Dow about 170 points lower until buyers came in sparking a reversal that helped the major averages regain nearly all those losses with an hour left to trade. Oil also rebounded from loses that drove prices below the $50 a barrel level for the first time in over two weeks. The U.S. dollar fell 0.4 percent against a basket of currencies… Read More ›

October 12, 2016

U.S. stocks began the day marginally lower but reacted well to Fed meeting minutes that were somewhat more dovish than expected. Still, the Fed remains sharply divided with hawks stating concerns that waiting to raise rates could trigger a recession. That’s somewhat counterintuitive because raising rates is known to have a dampening effect on economic growth. The dollar ended about even on the day while treasury yields moved slightly higher with the… Read More ›