It has been another up-and-down week on Wall Street
, with rising and falling confidence levels reflecting ever-changing geopolitical events and domestic affairs giving rise to elevated intra-session volatility. To wit, on Wednesday, we saw the stock market
break to the upside initially, before giving back much of that gain later in the day on political concerns at home, notably the furor growing out of the President's reaction to last weekend's events in Charlottesville. An extension of these latter worries pulled equities down early yesterday and did so sharply.
U.S. stocks were down across the board on Thursday
, as investors revealed growing concerns regarding the Federal Reserve’s interest-rate strategy and, especially, apparent discord within the White House that could threaten key economic policies from being implemented.
are making moderate progress today. At just past noon in New York, the Dow Jones Industrial Average
is up 75 points; the broader S&P 500 Index
is ahead eight points; and the NASDAQ is higher by 31 points. Market breadth is favorable, with advancing stocks outpacing decliners by a healthy margin on the NYSE
. Most of the major stock groups are well in positive territory, with gains in the technology and basic materials issues. In contrast, the energy names are lagging.
The U.S. equity markets started off the day with a modest uptick, but trading was mixed
, at best, throughout the session
. On the economic front, today’s news was largely favorable. Notably, retail sales
for July were up 0.6%, which was better than consensus estimates and the best showing this year
The bulls bounced back on Monday, with small- and large-cap issues registering gains across the board. Breadth favored advancing stocks by a roughly three-to-one ratio, with financials, industrials, and technology sectors being particularly responsible for the uptick. Traders
took advantage of reduced entry levels following last week’s skittishness, which saw each of the major indexes dropping during one the weakest weeks of trading in 2017.
major stock market
averages edged higher to end trading for the first full week of August. At the close, the Dow Jones Industrial Average rose 14 points, but finished under the 22,000 level first breached a week earlier. Meanwhile, the NASDAQ outshined the Dow on a percentage basis, climbing 40 points despite a poor day from one of its star performers over the past year, Nvidia (NVDA).
Stocks were down
across the board on Thursday
, as geopolitical tensions between the United States and North Korea weighed heavily on investors’ minds. Large- and small-cap alike traded lower throughout the day, while only the utility sector managed to ring in the closing bell in positive territory. Averages among the major indexes struggled throughout the day, continuing the downward trend that began late on Tuesday afternoon, when President Trump’s comments spurred a wave of speculation regarding the country’s foreign policy.
The U.S. stock market registered a broad-based
decline on Wednesday, largely due to heightened tensions between the United States and North Korea
, as well as a stream of disappointing earnings reports from Corporate America. With about 30 minutes left in yesterday’s session, President Trump made remarks to reporters that indicated the country may take a more bellicose posture when it comes to the foreign nation, sending the major averages to negative territory and offsetting the fundamentals that appeared to support another multiday running of the bulls.
After a mid-morning rally
drove the major indexes into positive territory
, the averages shed their gains
as the afternoon progressed
. The Dow Jones Industrial Average and S&P 500 each recorded new intraday trading highs, the eleventh-consecutive such session for the former, before falling below their respective breakeven lines.
The major U.S. equity indexes rose on Monday afternoon
, building on the tentative optimism that characterized morning trading. Residual bullishness from Friday’s positive jobs report, as well as sustained outperformance from Corporate America as it reveals second-quarter earnings performance, were the two main factors driving averages higher today.