March 20, 2017

US stocks traded in a narrow range today as investors turned their eyes to comments from several Federal Reserve officials. The US central bank raised interest rates for the second time in three months last week, but expectations from the Fed members for where rates will be in the coming years changed little from the last meeting. There is a lot of uncertainty of when and by how much rates will move higher and will continue to be data dependent. Equities continue to take a little breather after the rally seen since the election. At the end of the day, the major averages closed mixed with the Nasdaq hitting new all-time highs.

DOW -8 at 20905
SP500 -4 at 2373
NASDAQ +.53 at 5901

10 Year Treasury closed down 3 basis points to yield 2.47%
Oil prices closed -.34 at 48.97 a barrel
Gold prices closed +3.30 at 1233.50 an ounce

In the days’ stock news:

  • Apple closed at all-time highs in a move higher with tech stocks. AAPL closed +1.46 at 141.45.
  • Recent IPO, SNAP, closed higher after receiving its first buy rating. SNAP closed +.27 at 19.81.
  • Disney shares enjoyed momentum after “Beauty and the Beast” set a March opening weekend record with $170 million in North American ticket sales. DIS closed +.95 at 112.71.