All three major averages fell in the Thursday trading session as bond yields were on the rise. The 10-year Treasury yield trended higher and tipped over 2.92% in yesterday’s trading session, which stirred up anxiety amongst investors once again. The Dow Jones Industrial Average fell 0.3% to 24,665.89. The S&P 500 lost 0.6% to 2,693.13. Both…
It all begins today with Federal Reserve Chairman Jerome Powell’s first day of testimony in front of lawmakers. His prepared remarks to the House Financial Services panel will be released at 8:30 a.m. Eastern Time, followed by his testimony that will begin at 10 a.m. Eastern. It’s a foregone conclusion that the testimony on Capital…
In its earnings report last night, Apple delivered better-than-expected, record sales of $88.3 billion and net income of slightly over $20 billion for the fiscal first quarter. The company was able to increase revenue by 12.7% year-over-year despite a slowdown in unit sales. Unit sales of iPhones missed, 77.3 million sold in the holiday quarter,…
What a day, huh? Yesterday was a roller coaster day for the markets with traders having digested the State of the Union Address the night before and managing through earnings and a late afternoon Fed decision on rates. The Federal Reserve kept a key interest rate steady on Wednesday, but signaled it is on course…
For a second day in a row, U.S. equity futures are pointing to a lower open ahead of yet another busy trading day. While the media headlines certainly centered on the 10-year Treasury yield rising above 2.70% yesterday, the tone and discussion may shift today and in the direction of the State of the Union…
Even with the U.S. House of Representatives passing a one-month bill to fund the government, there remains speculation regarding a government shutdown, as the Senate must also pass the bill. Many are of the belief that Senate passage is possible at present and there will be much discussion on the subject with only 18 hours…
