Markets / Commentaries
Stock Market Today: October 30, 2020
Harvey S. Katz, CFA | 10/30/2020
Following a cumulative three-day loss this week of more than 1,800 points in the Dow Jones Industrial Average on the one-two punch of soaring COVID-19 cases in our country (we actually topped 90,000 yesterday) and the inability of Congress to pass a new fiscal stimulus package, the stock market opened lower again yesterday. But stocks quickly righted themselves after the first half hour of trading, with the Dow, the S&P 500 Index and the NASDAQ all heading back higher as the morning droned on.
Markets / CommentariesStock Market Today: October 29. 2020
William G. Ferguson | 10/29/2020
The COVID-19 worries, along with the uncertainty surrounding next week’s Presidential election and the unlikelihood of a near-term coronavirus fiscal stimulus package on Capitol Hill, have been a body blow to traders. No sector was spared in yesterday’s respective declines of 943, 426, and 120 points for the Dow 30, NASDAQ, and S&P 500 Index, with sharp setbacks recorded in each of the top-10 major equity groups. Looking to the session ahead, will the positive earnings and economic data released this morning be enough to overcome the escalating worries about COVID-19? Stay tuned.
Markets / CommentariesStock Market Today: October 28, 2020
Harvey S. Katz, CFA | 10/28/2020
Wall Street is on the ropes. On point, just two days after the Dow Jones Industrial Average had fallen by 650 points, after an intraday loss of 965 points, the blue chips are getting pounded once more. Specifically, as we hit the 1:00 hour on the East Coast, the Dow is off by more than 800 points.
Markets / CommentariesStock Market Today: October 27, 2020
John E. Seibert III | 10/27/2020
The stock market ended Monday’s session deeply in the loss column, on fears about the rising caseload of coronavirus patients. Currently, the futures were moderately in the green, suggesting a stronger start to the day. Still, we imagine traders will focus on earnings reports and any developments concerning the coronavirus cases or continuing efforts to fashion a fiscal stimulus package.
Markets / CommentariesStock Market Today: October 26, 2020
Harvey S. Katz, CFA | 10/26/2020
The stock market is plummeting as the final week of October gets under way. The Dow Jones Industrial Average now is off 860 points, bringing the blue chip composite down to below 27,500. The S&P 500 Index is down by 88 points and the NASDAQ is lower by 280 points. There is no place to hide.
Markets / CommentariesStock Market Today: October 23, 2020
Harvey S. Katz, CFA | 10/23/2020
Wall Street trading got under way yesterday with a bevy of economic reports being issued in rapid succession. First, the Labor Department said that first-time jobless claims had come in better than forecast falling below 800,000 for the first time since March, or when COVID-19 was first making its deadly appearance.
Markets / CommentariesStock Market Today: October 22, 2020
Harvey S. Katz, CFA | 10/22/2020
It has been a seesaw week on Wall Street to date in a thoroughly inconsistent year. On point, we saw some notable backtracking in the popular averages on Monday and a little relief on Tuesday, although the gains were whittled away by the close. The big issue at hand thus far has been the effort to get a new stimulus deal in hand. As yet, no deal has been brokered.
Markets / CommentariesStock Market Today: October 21, 2020
Harvey S. Katz, CFA | 10/21/2020
Once more yesterday, optimism on the fiscal stimulus front was on the rise. And that sentiment gave stocks an early lift. On point, one day after some initial bullishness had been seen in that area, only to be dashed by a return to late-in-the day pessimism, the bulls were at it again and stocks were on the rise. To recap, after several weeks of back and forth on the stimulus side, House of Representatives Speaker Nancy Pelosi put in a 48-hour deadline on reaching a pact in Congress.
Markets / CommentariesStock Market Today: October 20, 2020
Adam Rosner | 10/20/2020
The U.S. stock market retreated late in the session yesterday, but seems positioned to recapture some of that ground today. To wit, the U.S. equity futures are up sharply, signaling a higher opening.