The stock market struggled most of the week but staged a comeback rally on Friday on the better than expected employment report for November. The Labor Department reported nonfarm payrolls increased by 266,000 in November, well above expectations of 180,000. The unemployment rate also declined from 3.6% to 3.5%. This marks the 21st consecutive …
The corporate earnings reporting season is underway. Earnings reports were generally upbeat last week and the S&P 500 Index responded with a positive return. Of the 73 companies in the S&P 500 that have reported third earnings, 84% have exceeded expectations, 4% have met expectations and 12% have reported below expectations. Current expectation is …
The S&P 500 Index posted its third consecutive weekly decline. The decline wound up being smaller than the start of the week would have indicated, as the market rallied strongly on Thursday and Friday. The week started down when the September ISM Manufacturing Report showed contraction in the manufacturing sector. The Index level of …
The equity market declined on Friday afternoon for the second consecutive week following a report that the U.S. was considering banning U.S. pensions from investing in Chinese stocks and potentially delisting Chinese stocks from U.S. exchanges. Friday’s lower finish left the S&P 500 Index down 1.0% for the week. The use of international fund …
Last week produced a mix of economic reports that presented a modestly softer economy, but one that is not imminent danger of recession. Some of the softness, such as the contraction in the ISM Manufacturing Index and the weaker Employment Report, can be attributed to the continuing trade issues with China. Once the announcement …
The equity markets rebounded this past week to finish with their first weekly gain in five weeks. Optimism on international trade between the U.S. and China was the major catalyst for the weekly gain in stocks. With no significant corporate earnings news, we’ve stressed that economic and geopolitical news is likely to set market …
Equities rallied last week as moderating economic data and Dovish comments from Federal Reserve Chairman Jerome Powell led investors to the conclusion that a short-term interest rate cut is on the horizon. The Fed Chairman’s speech on June 4th indicated the Fed would take appropriate action to maintain expansion of the economy in the …
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