Market Roundup: Moderate Gains Despite Drop in Energy Sector

On Monday, indices closed out trading in the green zone as the Dow Jones Industrial Average and the S&P 500 Index hit new all-time highs with a rebound in the technology sector. The start of the week also saw crude oil prices decreasing, with West Texas Intermediate crude settling at $44.20 a barrel. The market traded into the red zone on Tuesday with Energy brands slipping with another drop in crude oil prices. Stocks traded with mixed moves on Wednesday. Both the Dow and S&P 500 shed points, likely fueled by another drop in oil prices, despite the release of data from the Energy Information Administration, which showed reserves decreased by 2.5 million barrels over the past week, versus an anticipated decline of 2.1 million barrels. The NASDAQ added gains on biotech buying. In other economic news, existing home sales for May increased by 1.1% to an annual rate of 5.62 million. Analysts expected a pace of 5.55 million. Indices closed trading with mixed moves on Thursday as both the Dow and S&P 500 shed points while the NASDAQ tacked on slight gains. The session ended flat on a variety of economic news. Department of Labor data showed first time jobless claims climbed by 3,000 to 241,000 for the week ended June 17.

Money Talks – June 17, 2017

This week on “Money Talks,” the Henssler Research Analysts, Troy Harmon, CFA, CVA, Nick Antonucci, CVA, and Jacob Keen lead the show in a discussion on the week’s market movements, interest rates, Wholesale Trade, the Producer Price and Consumer Price indices, and the latest on monetary policy from the Federal Reserve. The analysts also have an in-depth conversation on a client’s concern on whether or not the market is in a bubble.

Market Roundup: Mixed Market Moves and an Increase in Interest Rates

The week kicked off with stocks taking a downturn, pulled down by Technology shares, raising some concern that the major indices have been influenced by a few large tech firms. Indices closed in green territory on Tuesday, as the Dow Jones Industrial Average and the S&P 500 index climbed to new all-time highs. The rally was boosted by a variety of economic details. The Producer Price Index was unchanged in May following a 0.5% uptick in April. The core measure, which excludes food and energy, decreased by 0.1%. Markets had mixed moves on Wednesday. The Federal Open Market Committee likely affected market action. Despite declining inflation that continues to run below the Fed’s 2.0% target rate, policymakers boosted the target range for the fed funds rate by 25 basis points, to 1% to 1.25%, basing its decision on the expectation that the labor market will continue to strengthen. Also for the month, the Consumer Price Index shed 0.1% versus consensus expectation for no change. A 2.7% decrease in the energy index contributed to the monthly decrease in the CPI.  Discounting food and energy, the core CPI edged up 0.1%. In another report, Retail Sales slipped 0.3% in May, following a 0.4% uptick in April. Core sales, excluding autos and gas, held steady following an upwardly revised gain of 0.5% in April. Indices closed trading in the red zone on Thursday, with Technology brands again leading the selloff. On another note, first-time jobless claims decreased in the past week. Department of Labor data showed new claims declined by 8,000 to 237,000. Indices closed the session with mixed moves on Friday. The Dow and S&P 500 tacked on gains while the NASDAQ landed in the red zone. Housing starts decreased in May, as new construction dipped by 5.5% to an annual rate of 1.09 million. Starts were expected to hit 1.22 million. Additionally, consumer sentiment is on the wane in a preliminary reading for June. The University of Michigan’s index of consumer sentiment fell to 94.5, from 97.1 in May. Economists were expecting a flat reading.

Money Talks – June 10, 2017

This week on “Money Talks,” Bil Lako, CFP®, is joined by Research Analyst Nick Antonucci, CVA, and Managing Associate Shawna Theriault, CFP®, C.P.A., to discuss last Friday’s employment situation and international trade. They also discuss this week’s economic releases including productivity and costs, the ISM Services Index and interest rates. Shawna and Bil discuss a common investor misconception that a Will will distribute their assets as they intend, but don’t consider their beneficiary designations or how assets are titled. The show’s experts also address listeners’ questions on holding foreign investments in your IRA, financial services company Lincoln National Corp., beauty company Coty Inc., and cashing in a savings bond for your child.

Case Study: Your Will, Your Wishes—Beneficiary Coordination is a Must

Managing Associate Shawna Theriault, CFP®, C.P.A. leads a discussion with Principal Bil Lako, CFP®, and Research Analyst Nick Antonucci, CVA, on a common investor misconception that a Will will distribute their assets as they intend. However, many make the mistake of not considering their beneficiary designations or how assets are titled.

Market Roundup: Benchmark Indices Produced Mixed Results

Indices kicked off the week by closing in the red zone on Monday, with stocks trading slightly lower on a variety of economic news. Revisions to Productivity and Costs were in line with expectations, unchanged from the first quarter. The ISM nonmanufacturing index showed services industry growth decreased in May, dipping from 57.5 in April to 56.9. Tuesday, investors signaled a note of caution when gold prices and government bonds gained. Even a rally in the Energy sector stocks wasn’t enough to offset the losses in the major U.S. stock indices. The trend reversed Wednesday with the indices landing in the green zone ahead of former FBI Director James Comey’s testimony before the Senate Select Committee on Intelligence. Meanwhile, Energy stocks traded lower on a dip in crude oil prices and increased inventory levels. The Energy Information Administration said reserves jumped by 3.3 million barrels, versus expectations for a decrease of 3.5 million barrels. The NASDAQ hit a fresh record high on Thursday, despite turbulent trading prior to former director Comey’s public testimony to the Senate. On another note, Department of Labor data showed jobless claims fell by 10,000 to 245,000. The indices closed the week with mixed results as the Dow Jones Industrial Average hit a new record high while the NASDAQ traded into red territory.