Market Update | Week Ending 08/17/19

Stocks drop for the third straight week  Stocks declined as recession fears increased after several economic indicators point to a global slowdown. President Trump announced that tariffs scheduled to begin in September would be pushed back to at least the middle of December, which helped the markets in an [...]

Market Update | Week Ending 08/09/19

Trade war worries dragged down stocks this week Stocks fell modestly while bond yields dropped to a three-year low as global markets reacted to an unexpected drop in China’s currency. As the trade war escalated, China retaliated by allowing its currency to drop to the lowest level in a [...]

Market Update | Week Ending 08/03/19

U.S. economy adds 164,000 new jobs in July The Bureau of Labor Statistics reported that 164,000 new jobs were created in July. The unemployment rate held steady at 3.7%, which was just above a 50-year low set earlier in the year. Average hourly wages were up 3.2% from one year ago.  Fed Cuts interest rates for the first [...]

Market Update | Week Ending 07/27/19

U.S. Economy slowed in second quarter The Commerce Department reported that the Gross Domestic Product (GDP) – the broadest measure of goods and services produced – rose at a 2.1% annual rate in the second quarter. That was down significantly from 3.1% in the first quarter, but above some analysts' expectations who forecasted that [...]

Market Update | Week Ending 07/20/19

Stock markets ended the week lower Investors took profits as stocks dropped from last week’s record-high levels. Analysts have mixed expectations as they await the start of second-quarter earnings results. That should drive the markets in the coming weeks.  The Dow Jones Industrial Average closed the week at 27,154.20, down 0.7% from 27,332.03 last week. It’s up [...]

Market Update | Week Ending 07/13/19

The Dow exceeds 27,000 for the first time ever This week, Federal Reserve Chairman Powell testified before Congress. He signaled that an argument could be made for an interest rate cut. This led investors to speculate that a cut was likely in the coming months. The Fed controls overnight rates. [...]

Market Update | Week Ending 07/06/19

U.S. economy adds 224,000 new jobs in June The Bureau of Labor Statistics reported that 224,000 new jobs were created in June. That eclipsed analysts’ expectations of 162,000 new jobs. It marked a dramatic rebound from the disappointing 75,000 new jobs added in May.  The unemployment rate inched up to 3.7% from 3.6% in May, which was [...]

Market Update | Week Ending 06/29/19

Stocks finish higher in a robust June Stocks dropped slightly this week, which was their only weekly loss in the month of June. This week, a drop in consumer confidence caused stocks to drop slightly but drove interest rates down. Investors are also watching the start of the G20 [...]

Market Update | Week Ending 06/22/19

Stock markets close week at or near record highs The DOW and S&P hit new highs this week. Stocks finished higher for the third straight week. Investors were optimistic on hopes of lower interest rates as the Federal Reserve signaled that a rate cut this year was being considered. [...]

Market Update | Week Ending 06/15/19

Stocks up for the week High-profile mergers and a strong May retail sales report lifted stocks this week. The Dow Jones Industrial Average closed the week at 26,089.61, up 0.4% from 25,983.94 last week. It’s up 11.8% year-to-date.  The S&P 500 closed the week at 2,886.98, up 0.5% from 2,873.34 last week. It's up 15.2% year-to-date.  [...]

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