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Dow Jones Today: Sliding Bond Yields Lift Dividend Stocks
Wednesday's action was very much a repeat of what investors have been dealing with in recent weeks: the trade war and speculation of another Federal Reserve rate cut prompted by, well, the trade war. Globally inclined investors were treated to three rate cuts outside the U.S. today as India, New Zealand and Thailand joined the party.
Dow Jones Today: Not a Case of the Monday’s, but Much, Much Worse
I have been penning the “Dow Jones Today” wrap up since late May. Regular readers know that I frequently point out something along the lines of “20 of the Dow's stocks closed up/down today.” Well, today was a first because, in late trading, all 30 Dow components were in the red and in most cases, deeply so.
Dow Jones Today: Trade Trouble is a Real Problem
The impact of previous tariffs has been felt in multiple corners of the economy. So much so that data confirm China is no longer the biggest trading partner of the U.S. In a report out today, the Commerce Department said American exports to China slumped 18% in the first half of the year and that China is now the third-largest U.S. trading partner behind Mexico and Canada.
Dow Jones Today: Fed Obliges, But Stocks Don’t Respond
Adding to the Wednesday woes was that stocks tumbled followed a decent jobs data point. Earlier today, the ADP private payroll survey for July showed the addition of 156,000 private sector jobs this month, topping the estimate of 150,00. The July jobs report from the Labor Department is due out Friday before markets open.
Dow Jones Today: Earnings Drive Stocks to Record Highs
A batch of solid earnings reports from some marquee companies pushed the major U.S. equity benchmarks to record highs today, an ascent aided by news that President Donald Trump and Congressional Democrats reached a budget agreement.
Dow Jones Today: Averting Catastrophe, but Nothing to Brag About
As has been noted in this space, market participants are pricing in the following Fed facts: no interest rate cut this month and no cuts totaling 50 basis points this year. Hope burns eternal for a rate reduction of 25 basis points, but Powell's two-day testimony and the June meeting minutes could indicate otherwise.
