Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Stocks Ended Oct. 28, 2016
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
Equities traded lower during the month as the S&P 500 was down -1.81% with one more day to go in October. The index posted a -0.68% return for the week and has gained 5.88% YTD. After opening higher on Monday, the index slowly faded each day into the close on Friday. As a result of the selloff in global bonds, the dollar rose to a seven-month high on Thursday before selling off on Friday. OPEC discussed production targets, sending oil lower after topping out at $51.60 last week. M&A deals came in a big way this week. British American Tobacco proposed a deal to buy the remaining interest of Reynolds American that it did not already own. This deal would give British American Tobacco the largest share of the e-cigarette market in the US. Time Warner is the target of a proposed deal from AT&T. Concerns loom from US regulators that the deal would result in antitrust issues for AT&T. Qualcomm Inc announced the acquisition of NXP Semiconductors for $110 per share or over 10% premium based on Friday's close.Tech giants Apple and Alphabet Inc. reported earnings this week. Apple's results were in line with expectations, but the speculated boost from Samsung's battery scandal did not help iPhone sales as much as analysts had expected. Alphabet reported earnings on Thursday that were lower than expectations, but positive revenue outlooks for video, mobile, and cloud computing moved the stock higher on Friday. Akami Technologies Inc., a cloud services company, turned in the best performance in the S&P 500 Index with a 21.22% gain. The company moved higher after reporting higher profit and sales than analyst expectations The next two best performers were Level 3 Communications and F5 Networks with returns of 14.66% and 14.05%, respectively.
Posted on Monday, October 31, 2016 @ 8:04 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
US Economy and Credit Markets Ended Oct. 28, 2016
The First Trust Newsletter and Market Overview
A Snapshot of Growth vs. Value Investing
A Snapshot Of Moving Averages
US Stocks Ended Oct. 21, 2016
US Economy and Credit Markets Ended Oct. 21, 2016
Retail Investors Have Favored Bond & Hybrid Funds Since The Start Of 2009
Sector Performance Via Market Capitalization
US Stocks Ended Oct. 14, 2016
US Economy and Credit Markets Ended Oct. 14, 2016
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2022 All rights reserved.