Stock Market Today

Sunday, June 25 2017

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Stock Market Today: June 23, 2017

Harvey S. Katz, Mario Ferro, and Robert Harrington | 06/23/2017

U.S. equities generally moved higher on Friday, with advancing issues roughly doubling the number of declining shares. The major factors driving the bullish efforts were the solid May numbers for new home sales released by the Commerce Department, as well as positive comments from a regional Fed President who suggested the central bank’s near-term tightening policy could be eased in the future. Consensus expectations continue to point toward one more rate hike in 2017, likely during the December summit.

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Markets Commentaries

The Beige Book

Harvey S. Katz | 05/31/2017

The Federal Reserve's Beige Book review of the nation's economy was issued earlier this afternoon and it was received with a yawn. Specifically, the stock market, off modestly before the release, with the Dow Jones Industrial Average down some 40 points, or so, barely moved in the first minutes following the publication.

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Stocks Highlights

Dow 30 Earnings: Wal-Mart Stores Fiscal First Quarter 2017

Kevin Downing | 05/18/2017

General merchandise retailer, Wal-Mart Stores, (WMT) reported marginally better-than-expected results for the fiscal first quarter (years end January 31st). Total revenue rose 2.5% to $118.8 billion, slightly higher than our $118.0 billion estimate. Earnings per share of $1.00 came in at the high end of the $0.90-$1.00 guidance range, and surpassed our call by $0.03. Encouragingly, this marked the first quarterly EPS increase in more than two years.

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