Featured Commentaries
    Market Daily Updates
    Stock Market Today: September 18, 2019
    Harvey S. Katz, CFA and John Seibert III  |  09/18/2019
    The stock market started in the red today, ahead of the U.S. Federal Reserve meeting as traders waited for the outcome and the accompanying Fed monetary statement. The Dow Jones Industrial Average was lower by as many as 93 points in early action, while the other indices followed.
    Market Commentaries
    The Federal Reserve Reduces Interest Rates Once More
    Harvey S. Katz, CFA  |  09/18/2019
    In a widely telegraphed and, therefore, fully expected move, the Federal Reserve Board voted to reduce its federal funds rate target by another 25 basis points this afternoon. That was the second such rate cut in as many meetings and followed a decade in which there had been no reductions--only increases in 2017 and 2018.
    Market Daily Updates
    Stock Market Today: September 17, 2019
    Harvey S. Katz, CFA and Adam Rosner  |  09/17/2019
    Stocks got off to a weak start this morning, but managed to firm in the afternoon, aided by some buying late in the day. Early in the session, traders seemed hesitant to enter the market, as they were likely waiting for word from the Federal Reserve. While no concrete announcement was offered, it seems sentiment started to shift and the mood became more supportive. The sense on Wall Street is that the central bank will agree to another 25 basis point reduction in rates, as it looks to keep the economy expanding. At the end of today’s session, the Dow Jones Industrial Average was ahead about 34 points; the broader S&P 500 Index was up eight points; and the NASDAQ was higher by 32 points.
    Market Daily Updates
    Stock Market Today: September 16, 2019
    William G. Ferguson and John E. Seibert III  |  09/16/2019
    The futures markets were in the red this morning, as a swift increase in the price of oil occurred due to an attack on Saudi Arabian production. Around 19 strikes at two facilities have eliminated about 5.7 million barrels of oil per day from the global market, or roughly 5% of worldwide oil production. The price of oil was up as much as 20% at one point in the overnight session, while the stock market fell with that development. However, both these moves had reversed some by the time the opening bell rang. The Dow Jones Industrial Average was down around 125 points in the first few moments of trading, while the other indices were lower in tandem. The markets then traded sideways for much of the day, making little progress in either direction. Overall, the Dow snapped an 8-day winning streak and closed down 143 points, the S&P 500 was lower by nine points, and the NASDAQ fell 23 points.
    Market Daily Updates
    Stock Market Today: September 13, 2019
    Harvey S. Katz, CFA and Mario Ferro  |  09/13/2019
    Stocks started the day mostly to the upside, but trading became more mixed as the session wore on. On the economic front, the Commerce Department reported that U.S. retail sales were up 0.4% in August, which was above the consensus forecast, with the increase largely driven by car and truck sales. Also, the July figure was revised to a gain of 0.8% from 0.7%. Altogether, sales have been up for six consecutive months. Meanwhile, and more importantly, the two-year trade dispute between China and the U.S. took another step toward a potential resolution.