The week started off with gains as the Dow Jones Industrial Average achieved its ninth record closing high in a row and the S&P 500 index ticked up to record level highs. Sentiment was reversed Tuesday as the indices concluded trading in the red zone after trading in a narrow range throughout the day.
Last week ended with a mixed bag of stock market performances. On Monday, the Dow Jones Industrial Average, the S&P 500 Index and the NASDAQ composite closed July as their best month since February. History was made again on Tuesday when the Dow burst through the 22,000 mark.
The stock indices kicked off the week with mixed moves, as the Dow Jones Industrial Average and S&P 500 Index ended in the red zone while the NASDAQ traded up to an all-time high. In the first of several housing data points released during the week, existing-home sales fell in June, though they are still up by 0.7% from year-ago levels.
The financial markets closed Monday mixed with the Dow Jones Industrial Average and S&P 500 Index ending fractionally down while the NASDAQ added slight gains. Indices experienced mixed moves again on Tuesday with the S&P 500 and NASDAQ trading to new record highs while the Dow shed some points.
Henssler Research Analyst, Nick Antonucci, CVA, explains what bonds are, how they pay interest and why an investor may want to buy one.
In today’s Marietta Daily Journal, Bil Lako, CFP®, explains how the Fed will reduce their balance sheet and the effect on the economy.
Between late 2007 and now, the Fed’s balance sheet grew from $830 billion to $4.5 trillion. It will very likely take years for the Fed to pare that down.
While the Large-Cap indices reached new highs during the week, the tech-heavy NASDAQ had the best week, climbing more than 2.50%. The major indices closed with mixed moves on Monday, as the Dow Jones Industrial Average ended fractionally in the red zone, and the S&P 500 Index and NASDAQ posted gains.
Monday’s trading was light ahead of the Independence Day holiday, which had U.S. markets closed on Tuesday. On Wednesday, the market learned U.S. Factory orders took another step back in May, losing 0.8%, exceeding consensus’ expectations. Stocks ended last week higher, despite falling energy shares..
Investors turned to more defensive stocks like utility companies and other dividend-paying shares, which led the S&P 500 Index to slight gains on Monday. Technology shares led Tuesday’s downswing as the Dow Jones Industrial Average and the S&P 500 saw their biggest daily declines in more than a month.
