The S&P 500 Index limped into the end of the quarter on Thursday, then staged a small, late-day rally on the first day of the new quarter ahead of the holiday weekend. The S&P 500 ended the week -2.2%, the Dow was -1.3%, and the NASDAQ was -4.3%. For the half-year ending June 30th, …
The S&P 500 Index rallied last week as investors became more comfortable with the Fed’s plan to stem the pace of inflation. The S&P 500 ended the week +6.5%, the Dow was +5.4%, and the NASDAQ was +7.5%. The 10-year U.S. Treasury note yield decreased to 3.138% at Friday’s close versus 3.231% the previous …
The S&P 500 Index fell again last week as the Federal Reserve continued to tighten monetary policy. The S&P 500 ended the week -5.7%, the Dow was -4.7%, and the NASDAQ was -4.8%. The 10-year U.S. Treasury note yield increased to 3.231% at Friday’s close versus 3.165% the previous week. The Federal Open Market …
The S&P 500 Index fell sharply to end the week. Investors went on the defensive after the May Consumer Price Index (CPI) reading indicated that most major categories of inflation have not slowed their ascent. The S&P 500 ended the week -5.0%, the Dow was -4.6%, and the NASDAQ was -5.7%. The 10-year U.S. …
The S&P 500 Index had a small relapse last week after its big advance the week prior. The S&P 500 ended the week -1.2%, the Dow was -0.8%, and the NASDAQ was -1.0%. The 10-year U.S. Treasury note yield increased to 2.941% at Friday’s close versus 2.743% the previous week. As reflected in the …
The S&P 500 Index rallied back from an intra-day decline on Friday that had the Index temporarily down 20% from its peak. The S&P 500 ended the week -3.0%, the Dow was -2.8%, and the NASDAQ was -4.4%. The equity markets have declined for seven consecutive weeks amid concerns over the impact of rising …
Despite Friday’s strong relief rally, stocks still ended last week lower. The S&P 500 ended the week -2.4%, the Dow was -2.1%, and the NASDAQ was -2.4%. The 10-year U.S. Treasury note yield decreased to 2.928% at Friday’s close versus 3.142% the previous week. Both the Consumer Price Index (CPI) and Producer Price Index …
The equity market rally following the Federal Reserve’s monetary policy decision looked to be a false start after the market gave up the gain the following day and stocks closed lower for the week. The S&P 500 ended the week -0.2%, the Dow was -0.2%, and the NASDAQ was -1.2%. The 10-year U.S. Treasury …
Mixed earnings and anticipation of tighter monetary policy leading up to this week’s Federal Reserve meeting sent stocks down last week. The S&P 500 ended the week -3.3%, the Dow was -2.5%, and the NASDAQ was -3.8%. The 10-year U.S. Treasury note yield increased to 2.938% at Friday’s close versus 2.905% the previous week. …
Despite a slew of strong company earnings reports, concerns about an accelerating spread of COVID-19 in both the U.S. and abroad pushed stocks lower last week. The Dow Jones Industrial Average declined 6.5%, the S&P 500 Index declined 5.6%, and the NASDAQ 100 Index declined 5.5%. The earnings reporting season is rolling on and …
The third quarter earnings reporting season peaks this week with 180 companies in the S&P 500 Index scheduled to report earnings. The current third quarter consensus is for earnings to be down 16.7% year-over-year (versus down 18.7% last week and down 21.7% at the start of earnings season) on a 3.6% decline in revenue. …
It was a quieter week in the earnings reporting cycle with only 16 companies in the S&P 500 Index reporting earnings. The last big announcements come this week with some major retailers reporting earnings. With 457 companies in the S&P 500 having reported second quarter earnings to date, 81% have reported results above consensus. …
Heading into the tail-end of the second quarter earnings season, 441 companies in the S&P 500 have reported earnings with 82% reporting results above consensus. This is better than the long-term average of 64.9%. A fourth consecutive better than expected week has moved current consensus for second quarter S&P 500 earnings to down 31.7% …
Second quarter Gross Domestic Product (GDP) for the U.S. saw a record contraction of 32.9% as the April through June time period was hit by the COVID induced business shutdowns and stay at home orders. While the large decline is sobering, it is also likely to be short-lived as economic data has been improving. …
We’re expecting a great deal of news flow this week with 189 companies in the S&P 500 Index scheduled to report second quarter earnings, the Federal Reserve meeting taking place on Wednesday, and the first look at Second Quarter Gross Domestic Product (GDP) scheduled for release on Thursday. Additionally, the enhanced unemployment benefits are …
The second quarter earnings reporting period kicked-off last week. While earnings should be significantly lower for many companies due to the COVID related shutdowns, some favorable results relative to these dire expectations pushed the S&P 500 Index to an up week. Of the 47 companies in the S&P 500 Index that have reported second …
This week we will start to see the companies reporting second quarter earnings show us their cards. Due to uncertain outlooks at the height of the COVID back in April, more than 180 companies in the S&P 500 Index declined to provide earnings guidance, so we may have a wider range of outcomes than …
Positive economic data continues to provide an optimistic catalyst to the stock market. The June ISM Manufacturing Index moved back up to 52.6 indicating economic expansion. The June employment report showed nonfarm payrolls of 4.8 million which were well ahead of expectations and built on the 2.7 million jobs created in May. The unemployment …
Global equity markets had a strong recovery rally last week as scenarios begin to firm up of when the COVID-19 peaks in various countries and the global economy begins to re-open. While the social and economic recovery is likely to last several months or longer, the financial markets tend to anticipate outcomes and a …
The equity market gave back some of its recent gains last week, but volatility also decreased which we view as a welcome signal relative to the higher levels of volatility we’ve seen over the past few weeks. Uncertain timing on a return to normalcy in society and the economy is likely to weigh on …
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 …
On Wednesday, the Federal Open Market Committee (FOMC) will make a decision on its interest rate target. The current market probabilities are for a reduction of 0.25% which would bring the target range for the Fed Funds Rate to 2.00% to 2.25%. We can attribute most of the stock market tailwind over the past …
The advance report on First Quarter U.S. Gross Domestic Product (“GDP”) was reported at +3.2%. This was an upside surprise to the 2% widely anticipated by most economists. Part of the surprise was in net trade (exports versus imports) which was refreshing to see given the concern over the U.S.—China trade standoff. Personal consumption …
The S&P 500 Index advanced 0.4% last week, its fifth consecutive weekly increase. Crude oil fell 2.5% for the week. As we near the end of the quarterly earnings season, much of the fundamental news from reporting companies is out and speculation on how current macro and industry data may impact earnings for first quarter …
Continue reading “Wrapping up Earnings and Focusing on Economic Data”
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