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State Street to Cut 800 More Jobs

Adviser Investments Vice President Chris Hagan has the market analysis for Friday, July 19. All major U.S. stock indexes declined, with the Dow Jones Industrial Average, S&P 500 and the NASDAQ Composite down 0.3%, 0.6%, 0.7%, respectively. State Street dominated corporate headlines locally—its stock rose 7% after the company beat second-quarter earnings expectations, even as those earnings plunged 29%. Quarterly sales also surpassed the $2.85 billion forecast but declined 6% year-over-year. State Street announced plans to cut an additional 800 jobs before the year is out.

Sen. Warren’s Proposed Private Equity Regulations

Brian Mackey, deputy director of research at Adviser Investments, joined “NECN Business” to discuss Senator Elizabeth Warren’s proposal to regulate private equity firms. Mackey discusses why private equity is under scrutiny and what investors should know.

Netflix Drops 10% on Weak Subscriber Counts

Brian Mackey, deputy director of research at Adviser Investments, has the market analysis for Thursday, July 18. Major U.S. indexes rebounded following two consecutive down days, with the Dow Jones Industrial Average seeing fractional gains, the S&P 500 up 0.4% and the NASDAQ Composite rising 0.3%. Although markets began with flat trading, they responded positively to late-day remarks from New York Fed President, John Williams, signaling an imminent potential rate cut. Meanwhile, Netflix’s stock tumbled 10% on weak quarterly subscriber counts. Netflix lost 130,000 U.S. subscribers during the second quarter—its first drop since 2011. On the earnings front, Microsoft rose nearly 3% in after-hours trading after reporting nearly $33 billion in quarterly revenue. This marks a 12% sales gain, topping analyst projections by nearly $1 billion.

 

CSX Drops on Disappointing Earnings

Kate Austin, equity research analyst at Adviser Investments, has the market analysis for Wednesday, July 17. Major U.S. stock indexes declined, with the Dow Jones Industrial Average down 0.4%, the S&P dropping 0.7% and the NASDAQ Composite off 0.5%. Railroad company CSX missed revenue and earnings targets as a result of trade tensions and lower shipping volumes, sending its stock down more than 10% and weighing on other railroad companies. In the skies, increased demand sent United Airlines’ second-quarter profits up over 50% from last year—the stock was up only about 1% on the news.

Domino’s: Victim of Its Own Success?

Ryan Christensen, account executive at Adviser Investments, has the market analysis for Tuesday, July 16. Major U.S. stock indexes declined in response to President Trump’s trade-negotiation update. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite slipped 0.1%, 0.3% and 0.4%, respectively. In earnings news, although JPMorgan Chase, Goldman Sachs and Wells Fargo met quarterly sales and profit expectations, all three banks noted that Federal Reserve policy comments are negatively impacting near-term results. Meanwhile, Domino’s plunged nearly 9% after the pizza maker fell short of its second-quarter sales estimate, reporting its lowest quarterly revenue increase since 2012.

Manufacturing Index Rebounds

Charlie Toole, vice president at Adviser Investments, has the market analysis for Monday, July 15. All major U.S. stock market indexes advanced, with the Dow Jones Industrial Average and NASDAQ Composite up 0.1% and 0.2%, respectively, while the S&P 500 rose less than 0.1%. Citigroup reported better-than-expected second-quarter revenues and profits on the back of strong consumer banking. Elsewhere in the economy, the Empire State manufacturing index showed manufacturing in the New York region rebounding in June from negative territory in May on the biggest gain in more than two years.

Delta Earnings Beat Expectations

Josh Jurbala, quantitative investments manager at Adviser Investments, has the market analysis for Thursday, July 11. Major U.S. market indexes closed with mixed results, with the Dow Jones Industrial Average and S&P 500 up 0.8% and 0.2%, respectively, and the NASDAQ Composite dipping less than 0.1%. In earning news, Delta Air Lines’ stock rose nearly 2% after beating second-quarter earnings expectations. The company posted quarterly earnings of $2.35 per share on $12.5 billion in revenue—a new record high as earnings continue to be boosted by robust summer travel bookings.

Stocks Rise as Fed Signals Interest-Rate Cut

Todd Peters, senior vice president at Adviser Investments, has the market analysis for Wednesday, July 10. Major U.S. stock market indexes advanced on Fed Chair Jerome Powell’s comments signaling a likely interest-rate cut. The Dow Jones Industrial Average was up 0.3%, while the S&P 500 gained 0.5% and the NASDAQ Composite rose 0.8%, with all indexes hitting intraday high-water marks. Also making headlines, Lady Gaga revealed her new Haus Laboratories cosmetic line that will be distributed exclusively through Amazon. The online retail giant also announced a partnership with the U.K.’s state-funded National Health Service through which digital assistant “Alexa” will offer basic diagnoses and medical advice. Amazon’s stock gained 1.5% on today’s news.

Virgin Galactic Announces IPO

Adviser Investments Senior Vice President Chris Keith has the market analysis for Tuesday, July 9. Major U.S. indexes closed with little change as investors await testimony from Federal Reserve Chair Jerome Powell: The Dow Jones Industrial Average slipped less than 0.1% while the S&P 500 and NASDAQ Composite were up 0.1% and 0.5%, respectively. In IPO news, Richard Branson announced plans to launch a public offering for Virgin Group’s space-tourism enterprise, Virgin Galactic. California-based Social Capital Hedosophia Holdings plans to invest around $800 million in exchange for a 49% stake in the company, which will compete with Amazon’s Blue Origin and Tesla’s SpaceX.

Deutsche Bank Sinks 5% on Layoff News

Kate Austin, equity research analyst at Adviser Investments, has the market analysis for Monday, July 8. Major U.S. stock indexes declined, with the Dow Jones Industrial Average down 0.4%, the S&P dropping 0.5% and the NASDAQ Composite off 0.8%. Deutsche Bank fell more than 5% after announcing that the company will reduce its global headcount by nearly 20,000 employees. Also making headlines, Procter & Gamble unveiled its new Zevo bug control product offerings. Unlike Johnson & Johnson’s Raid, Zevo’s active ingredients are “bio-selective” and approved for use around children and pets.

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