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 July 28, 2017
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Another week, another all-time high as the S&P 500 closed Wednesday above 2477.8 for the first time. The high was short lived after some disappointing mega-cap earnings announcements later in the week. Google's parent company Alphabet Inc. fell close to 3% on a very slight revenue miss. Despite strong earnings and ad growth, results were muted by a slide in revenues per click. Amazon.com was next to disappoint, as their earnings per share came in well below consensus estimates and contributed to a slide of nearly 2.5%. The online giant did have nearly 25% revenue growth over 3Q16, however, some trepidation formed in the name as challengers like Wal-Mart Inc. have been aggressively vying to grow their online ordering business. There were some positive earnings announcements as well. Verizon Communications Inc. rallied nearly 8% after announcing robust subscriber growth on the back of their unlimited data initiative. They took market share from other cell phone service providers which in the short run has boosted profits, but longer-term there is likely to be margin compression as the overall cost of cellular data falls. The Boeing Co. was the top performing stock in the S&P 500 up over 13% on the week. News that the company boosted full year guidance as they continue to clamp down on costs sent shares up as margins grew. Caterpillar Inc. saw its shares rise over 7% for the week as they announced strong earnings on their positive outlook for global growth. They cited strength in Chinese construction as a catalyst for improved 2017 guidance. Looking ahead to next week earnings season continues as over 130 S&P 500 names are expected to report quarterly results.
Posted on Monday, July 31, 2017 @ 8:20 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 July 28, 2017
Foreign Sales For Big Multinational Companies Fell Again In 2016
A Snapshot of Mega-Cap Stocks
US Stocks Ended July 21, 2017
US Economy and Credit Markets Ended July 21, 2017
S&P 500 Index Returns Posted Over Last 4 Years Of Longest Bull Market In History
U.S. Crude Oil & Natural Gas Rig Counts Still Trending Higher
US Stocks Ended July 14, 2017
US Economy and Credit Markets Ended July 14, 2017
S&P 500 Index Top-Line Growth Estimates
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.