Last week, the Q2 2018 reporting cycle kicked-off with some of the big banks reporting quarterly results. JP Morgan Chase (JPM), Wells Fargo (WFC) and PNC Financial reported results. JP Morgan’s report was quite strong, but failed to find the stock gain any traction with the entire sector falling once again. We now have Q2 results from 4…...
Investors bore the brunt of President Trump’s announced $200bn trade tariffs on China, set to go into affect as early as September and after a review period. All three major indices fell on the day, but outperformed their global equity market peers by falling less than 1% across the board. Although China has vowed to…
Here we go again with tariff headlines front and center. The Trump administration on Tuesday evening released a list of 10% tariffs on $200 billion in Chinese goods, broadening trade war conditions with Beijing. The tariffs will not go into effect immediately but will undergo a two-month review process, with hearings Aug. 20-23. Immediately after the news…
As we learned last week, the health of the labor market remains very strong. There are more job openings than job seekers, which is a first since 1970. The prime-age employment-to-population ratio, probably the best indicator of the health of the job market, is back to 2005 levels. How long will it be very strong is…
In the latest week, the Dow fell 0.6%, the S&P lost 0.7% and the Nasdaq fell 2 percent. For the month of June, the Dow rose 0.1% while the S&P added 1.1% and the Nasdaq rose 1.3 percent. In the second quarter, the Dow gained 1.4%, the S&P was up 3.6%, and the Nasdaq gained…
We’ve reached the end of the week and what a week it has been. A couple of overextended streaks came to an end during the trading week, including a Dow and Financials Select Spiders ETF (XLF) losing streak. In our daily market dispatch yesterday morning, we discussed the potential for XLF going forward. “While the…
Wall Street was looking dicey prior to the market’s open yesterday until the White House validated its trading approach with China. Oddly, the details surrounding the Trump administration’s approach were released on Tuesday, but with no positive market reaction like that in the pre-market hours Wednesday. The following details were released Tuesday afternoon and as…
Divergence! A one-word sentence used appropriately to describe last week’s trading action where the Dow was significantly lower than its peer indices. The Dow Jones Industrial Average rose 119.19 points to 24,580.89 on Friday. Friday’s close marked the first gain for the index in nine sessions, snapping its longest losing streak since March 2017. Looking more…
Divergence! A one-word sentence used appropriately to describe last week’s trading action where the Dow was significantly lower than its peer indices. The Dow Jones Industrial Average rose 119.19 points to 24,580.89 on Friday. Friday’s close marked the first gain for the index in nine sessions, snapping its longest losing streak since March 2017. The S&P 500 gained 0.2%…...
With Apple (AAPL) and Netflix (NFLX) both recording record highs, the Nasdaq finished Tuesday’s trading session with a 2nd consecutive closing record high. Unfortunately, the broader S&P 500 was only slightly higher on the day with the Dow finishing flat to slightly lower on the day. Even with the threat of retaliatory tariffs against the…
