Markets / Commentaries
Stock Market Today: May 29, 2020
Harvey S. Katz, CFA | 05/29/2020
Wall Street entered the penultimate trading day of this holiday shortened week with a fresh buying burst, as equity investors sought to extend a rally that had added more than 1,000 points to the aggregate increase in the Dow Jones Industrial Average so far during this four-day span. By the end of the first half hour of trading, the blue chips already were up by more than 100 points, and the market would generally trend higher from there, largely holding onto a 100-200 points advance into the final hour of the session.
Markets / CommentariesStock Market Today: May 28, 2020
Harvey S. Katz, CFA | 05/28/2020
Wall Street began the latest session to the upside, continuing a very strong recent pattern for the stock market. Once again, the early gains were fueled by optimism about the reopening of the economy, with all 50 states now in that mode, albeit to varying degrees. The early surge and strong finish would propel the major composites, led for a change by the Dow Jones Industrial Average, to levels not seen since early March. It has been a broad-based rebound for the most part, with upbeat sentiment leading actual results.
Markets / CommentariesStock Market Today: May 27, 2020
Harvey S. Katz, CFA | 05/27/2020
Wall Street opened for trading yesterday morning following the long Memorial Day Weekend and immediately started buying, as investors sought to extend their winning streak from last week. Optimism about the fairly rapid pace in which the 50 states are reopening and apparent progress in finding an effective vaccine for the COVID-19 pandemic were behind the early euphoria. Right now, the early indicators this morning point to a strongly higher opening.
Markets / CommentariesStock Market Today: May 26, 2020
John E. Seibert III | 05/26/2020
The U.S. futures are pointing to a higher opening. Following the Memorial Day holiday, more states begin to reopen their economies from the coronavirus-related lockdowns. Too, investor sentiment is improving, thanks to hopes that a coronavirus vaccine would be found.
Markets / CommentariesStock Market Today: May 22, 2020
Harvey S. Katz, CFA | 05/22/2020
Wall Street strode into the penultimate session of this week on something of a high note, having booked solid aggregate increases over the past three trading days. And it added to those gains in the first hour of trading yesterday, buoyed by solid quarterly earnings performances from some retailing chains. However, there was a continuing cloud over the market, and that was the steady drumbeat of millions of new layoffs. As this was Thursday morning, the Labor Department reported its latest weekly jobless claims figures.
Markets / CommentariesStock Market Today: May 21, 2020
Harvey S. Katz, CFA | 05/21/2020
The U.S. stock market pressed higher yesterday on the reopening optimism as well as on hopes that a vaccine for COVID-19 would soon be found as another potential entrant into this arena surfaced, two days after Moderna (MRNA) entered the fray. We think additional candidates will emerge in the coming days, weeks, and months, as the battle to combat COVID-19 continues. Finally, after Wednesday's constructive session, the U.S. equity futures are suggesting some profit taking at the open this morning.
Markets / CommentariesStock Market Today: May 20, 2020
Harvey S. Katz, CFA | 05/20/2020
The stock market, on a veritable tear to start the new trading week on Monday, as growing hopes for a vaccine to combat COVID-19, helped to fuel a stealth advance on the session, saw the Dow Jones Industrial Average climb back above 24,000, with an advance of 912 points. As to those vaccine hopes, they were led by Moderna (MRNA), and its supportive Phase 1 test results on a relatively small sample of individuals. The stock surged on that news, but retraced some of those gains yesterday.
Markets / CommentariesStock Market Today: May 19, 2020
Adam Rosner | 05/19/2020
The U.S. stock market displayed notable strength yesterday, commencing the week on an upbeat note. Meanwhile, Wall Street continues to keep a careful eye on the coronavirus pandemic and its impact on the corporate sector. Traders are watching, as numerous states across the nation are starting to reopen for business. Looking to the day ahead, the S&P 500 futures are indicating a slightly lower opening.
Markets / CommentariesStock Market Today: May 18, 2020
William G. Ferguson | 05/18/2020
As we pass the midpoint of May, the month is looking quite different from the previous 30-day stretch. Recall that the major equity indexes, which fell into bear territory in March as the coronavirus pandemic slammed the United States, bottoming on March 23rd, staged a tremendous rally in April.