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 August 3, 2018
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

The S&P 500 posted its fifth weekly gain to start off the month of August. Positive earnings reports have propped up the market with 75% of reporting companies in the index beating analysts' estimates. After reporting quarterly earnings which topped estimates, Apple Inc. became the first US company with a 13-digit ($1 trillion) market cap. The next largest company, Amazon.com Inc, is over $100 billion smaller. Trade tensions between the US and China are still in play as the Chinese moved to prop up their currency causing the dollar to fall on Friday. Emerging market stocks rallied on Friday after declining through the mid-week. President Donald Trump's proposal to impose duties on $200 billion in Chinese imports was met with China's disproportionate, but escalated, $60 billion list of goods on Friday. Both countries have been adding fuel to their respective trade-war campaigns, but talks of formal negotiations have been communicated on a high level between both governments. Investors have taken note, and put money to work in defensive sectors. Real Estate, Telecomm, Health Care, Staples, and Utilities were the top five of 7 sectors with positive returns last week. Energy was the worst performing sector after American oil companies scaled back drilling following President Trump's trade rhetoric. Working oil rig counts dropped for the second time in three weeks. Looking ahead, one third of the S&P 500 has yet to report earnings and investors will be looking for any clues about inflation or labor pressure on company margins.
Posted on Monday, August 6, 2018 @ 8:29 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 August 3, 2018
A Snapshot of Growth vs. Value Investing
How Some Major Global Equity Indices Have Performed Since 11/8/16
US Stock Markets Ended July 27, 2018
US Economy and Credit Markets Ended July 27, 2018
U.S. Crude Oil & Natural Gas Rig Counts
Current Stock Valuation Levels vs. March 2000 Levels
An Avalanche of Earnings
US Stock Markets Ended July 20, 2018
US Economy and Credit Markets Ended July 20, 2018
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.