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Bank CEOs on Capitol Hill

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Wednesday, April 10. Major U.S. stock indexes advanced, with the Dow Jones Industrial Average seeing fractional gains and the S&P 500 and NASDAQ up 0.2% and 0.7%, respectively. The Federal Reserve dominated headlines, and Federal Open Market Committee minutes from its March meeting reflected cautious optimism and the likelihood of maintaining the 2.25% to 2.50% target rate through the remainder of 2019. Meanwhile, CEOs from several of the nation’s largest banks—including Bank of America, Citigroup, JPMorgan Chase and State Street—provided Congressional testimony related to financial sector regulatory efforts.

Small Business Confidence Remains Elevated

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, April 9. Major U.S. stock indexes declined as investors reacted to global concerns related to a potential trade war between the U.S. and E.U. as well as the International Monetary Fund’s 2019 forecast downgrade. The Dow Jones Industrial Average fell 0.7% and both the S&P 500 and NASDAQ dropped 0.6%. In terms of economic data, the Small Business Optimism Index rose slightly for the third month in a row, remaining at elevated levels even as small businesses report difficulty finding skilled workers. Meanwhile, the Labor Department’s Job Openings and Labor Turnover Survey indicated that job openings decreased in February at the fastest pace since 2015. That figure continues to exceed the number of unemployed workers, and the quits rate remained at 2.3% for the ninth consecutive month as employees demonstrate optimism about finding a new or better-paying job.

Oil Prices Reach Five-Month High

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Monday, April 8. Major U.S. stock indexes closed with minimal movement and mixed results today, with the Dow Jones Industrial Average down 0.3% and the S&P 500 and NASDAQ up 0.1% and 0.2%, respectively. This marks the eighth consecutive day of gains for the S&P 500, putting the index within 1.3% of its all-time high. Meanwhile, crude oil prices reached a five-month peak at more than $64/barrel as a result of ongoing tension in Libya and OPEC production cuts.

Job Numbers Show Growth and Wage Increases

Josh Jones, vice president at Adviser Investments, has the market news for Friday, April 5. Major U.S. stock indexes advanced. The Dow Jones Industrial Average S&P 500 and NASDAQ gained 0.2%, 0.5% and 0.6%, respectively, as investors reacted to jobs data. The Labor Department revealed that employers added 196,000 new jobs to payrolls in March, slightly higher than the 175,000 forecast. The unemployment rate remained steady at 3.8%; however, wages saw a 3.2% year-over-year increase. These numbers continue to indicate that the U.S. economy remains on a slow-growth, not no-growth trajectory.

Tesla Down 8% on Sales Decline

Chris Hagan, vice president at Adviser Investments, has the market analysis for Thursday, April 4. Major U.S. market indexes closed with mixed results, with the Dow Jones Industrial Average and S&P 500 up 0.6% and 0.2%, respectively; and the NASDAQ down 0.1%. Several well-known, multinational stocks contributed to today’s gains, including Boeing and Dow Chemical’s respective 3% and 5% increases. Tesla, on the other hand, saw its stock fall more than 8% after reporting a 31% quarterly drop in auto sales. Amazon also made headlines after founder Jeff Bezos and ex-wife MacKenzie disclosed certain material terms of their divorce settlement, under which Jeff retains ownership of 75% of the couple’s Amazon stock as well as voting control over MacKenzie’s shares.

Asian Markets Rise on Trade Optimism

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, April 3. After another relatively flat day, major U.S. stock market indexes closed with slight gains. The Dow Jones Industrial Average and S&P 500 each rose 0.2% while the NASDAQ gained 0.6%. Asian indexes also advanced on ongoing optimism related to trade talks between the U.S. and China, with China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi each rising around 1%. Meanwhile, ADP’s private sector jobs report missed analyst forecasts and fell to an 18-month low.

Walgreens Earnings Miss Drags Dow Down

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, April 2. Major U.S. market indexes were largely flat on the day. The Dow Jones Industrial Average fell 0.3% while the NASDAQ was up 0.3% and the S&P 500 rose by less than 0.1%. Walgreens’ stock dropped 12%—dragging the Dow with it—after it reported second-quarter earnings that fell shy of analysts’ predictions and lowered its outlook for the rest of the year. Elsewhere in the economy, auto sales declined slightly in the first quarter but overall continue to reflect not just a very healthy U.S. consumer but also a financial system in fine shape to provide lending for big-ticket items.

Retail Sales Miss, Manufacturing Beats Expectations

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Monday, April 1. Major U.S. market indexes advanced for the third consecutive day. The Dow Jones Industrial Average and NASDAQ each rose 1.3%, and the S&P 500 gained 1.2% as investors reacted to better-than-expected manufacturing data in both the U.S. and China. Meanwhile, retail sales missed expectations and fell 0.2% in February, following January’s 0.7% upwardly revised gain. Lyft’s stock saw its second day of declines and closed the day down nearly 12%.

Economic Fundamentals Lift Major U.S. Indexes

Brian Mackey, deputy director of research at Adviser Investments, has the market analysis for Friday, March 29. Major U.S. stock indexes advanced, with the Dow Jones Industrial Average and NASDAQ up 0.8% and the S&P 500 gaining 0.7% . With a lack of headline domestic or geopolitical news, investors focused on solid economic fundamentals. Next week brings a full slate of meaningful data and reports: Retail sales, construction spending, manufacturing and service sector gauges, durable goods orders and car sales, jobs reports, average hourly earnings and consumer credit.

 

Lyft Prepares for Friday IPO

Senior Vice President Chris Keith has the market analysis for Thursday, March 28. Despite intraday declines, all major U.S. stock indexes advanced slightly, with the Dow Jones Industrial Average and S&P 500 each up 0.4% and the NASDAQ gaining 0.3%. We also saw the measure of fourth-quarter economic growth adjusted lower, with annualized pace falling from 2.6% to 2.2% as result of a downward revision on consumer spending. Meanwhile, Lyft’s stock is scheduled begin trading on the NASDAQ Friday; the rideshare company seeks to raise $2.7 billion in working capital from its initial public offering.

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