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 Feb. 17, 2017
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Strong economic data, positive commentary from Federal Reserve Chairwoman Janet Yellen, and robust corporate profits led the S&P 500 higher for the week, marking the fourth consecutive weekly gain. Janet Yellen signaled the central bank might raise interest rates in March, citing rising inflation and a strong job market.  Wholesale prices increased by 0.6% in January, the largest monthly increase since September 2012, led by an increase in gasoline prices. Consumer data points remained strong as retail sales advanced 0.4% versus consensus of 0.1%, and U.S. housing starts exceeded expectations. With earnings season nearing completion, the S&P 500 is on pace to grow by 5% for the 4th quarter of 2016. To date, information technology and financials grew earnings by 11.2% and 9.1% in the 4th quarter, while energy remained a drag with earnings down by 9.3%. However, energy earnings are expected to recover and be incremental to S&P 500 profits in 2017.  In stock specific news, Deere & Co. continued to see weak demand for its capital equipment for the quarter, but did raise 2017 sales guidance for farm and construction machinery as management sees end markets stabilizing after a three-year slide. CBS Corp. saw advertising revenue fall by 2.8% due to fewer Thursday Night Football games and disappointing ratings for NFL games. Unilever N.V. spurned a $143 billion takeover offer from Kraft Heinz Co. that would be the largest-ever acquisition for a food or beverage stock. Both stocks jumped by more than 10% on Friday as further consolidation among consumer-goods companies could result in further cost cutting and shareholder value. Looking ahead to next week, a number of retailers will report earnings including Macy's Inc., Nordstrom, Inc., and Wal-Mart Stores. Economic data is relatively light for the holiday-shortened week.
Posted on Tuesday, February 21, 2017 @ 8:21 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 Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended Feb. 17, 2017
How Some Traditional Asset Classes Have Fared Since Treasury Yields Peaked In 1981
A Snapshot Of Fixed-Rate Bond Yields & Total Returns
US Stocks Ended Feb. 10, 2017
US Economy and Credit Markets Ended Feb. 10, 2017
Investors Would Like To See Bank Margins Rise Along With Interest Rates
A Snapshot of Growth vs. Value Investing
It's Called Winning!
US Stocks Ended Feb. 3, 2017
US Economy and Credit Markets Ended Feb. 3, 2017
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 © 2023 All rights reserved.