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 Stock Markets Ended May 4, 2018

 
Equities took a strong leg up last Friday, but it wasn't enough to make up for the declines earlier in the week as the S&P 500 Index returned -0.21%. The index closed the month of April with a gain of 38 basis points after large losses in both March and February. The Federal Open Market Committee met on Tuesday & Wednesday and acknowledged the strengthening labor market, increased economic activity, and strong job gains. The committee left rates unchanged as many investors expected. Two days of trade talks between the US and China were held last week in Beijing in hopes of avoiding a trade war. While Chinese media reported some trade issue agreements, the meetings ended with most trade issues unresolved. In economic news, US Nonfarm Payrolls showed 168K new jobs in April. While this was lower than expected, it was a large increase relative to March. The US unemployment rate dropped to 3.9%, the lowest rate since 2000. US initial jobless claims of 211K were lower than the consensus estimate of 225K and slightly higher than the previous week's 209K. Though inventories increased, crude oil prices were up 2.38% last week closing at $69.72 per barrel as Middle East tensions attributed to elevated prices. Information technology was the best performing sector last week with strong performances from larger technology companies like Apple Inc., Mastercard Inc., and NVIDIA Corp. Apple Inc. returned 13.25% last week after the company announced exceeding second quarter earnings expectations, a board approved $100 billion share repurchase, and a 16% increase in their quarterly dividend. Qorvo Inc., a manufacturer of integrated circuits for communications devices, showed the best performance in the S&P 500 Index with a 17.97% return as some analysts increased their recommendation of the Apple Inc. supplier. ANDEAVOR, a petroleum refiner and marketer, returned 14.20% last week. The stock jumped on Monday after announcing a definitive merger agreement with Marathon Petroleum Corp. More than 80% of companies in S&P 500 Index have already reported earnings for the first quarter and 79% of those have reported beating their estimates.
Posted on Monday, May 7, 2018 @ 8:32 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 May 4, 2018
Some Insight Into The S&P 500 Index Dividend Payout
The Price Of Crude Oil Has Risen To An Interesting Level
US Stock Markets Ended April 27, 2018
US Economy and Credit Markets Ended April 27, 2018
Every Year Looks Volatile Compared To 2017
Consider The Potential Opportunity Costs Before You Sell In May And Go Away!
US Stock Markets Ended April 20, 2018
US Economy and Credit Markets Ended April 20, 2018
A Snapshot Of European Equities
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 © 2020 All rights reserved.