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 September 21, 2018
Posted Under: Weekly Market Commentary

 

Despite the S&P 500 index closing lower on Monday, it finished Thursday at all-time high before dipping slightly lower Friday. Equities were led by the financial and material sectors, both had tailwinds of rising interest rates. Conversely, higher bond yields stunted the real estate and utility sectors, both underperformed the broader market. President Trump decided to move forward with an additional 10% tariff on $200b worth of Chinese imports starting Monday September 24th. The White House had discussed moving the new tariffs up to 25% but it appears that has been delayed until next year in an effort to get the Chinese back to the negotiating table. Red Hat Inc., an open source software provider, fell over 6.5% after announcing quarterly revenue below expectations, it was the worst performing company in the S&P 500 index last week. The poor quarterly results were likely due to a shift from their legacy on-site infrastructure business, to their main growth driver called OpenShift which had some near-term headwinds. MGM Resorts International announced plans to acquire the operations of the Hard Rock Rocksino which buoyed the stock nearly 3% last week. Under Armor Inc. announced plans to cut 400 jobs as part of the company's overall restructuring, the announcement rallied their shares over 6% for the week. ADT Inc. rallied over 7% after they announced a deal with Amazon.Com Inc. to integrate security services with their new Alexa Guard product. Adobe Systems Inc. fell over 2% Friday, after equity markets didn't seem to like the company purchasing Marketo from Vista Equity Partners for $4.75b. Overall economic fundamentals remain strong, corporate profits robust and new highs in sight. The S&P 500 is projected to grow earnings by 5.4% next quarter and 21.8% for 2018.   

Posted on Monday, September 24, 2018 @ 8:17 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
Weekly 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 September 21, 2018
Health Care Stock Returns Have Outpaced Rising Health Expenditures
Trump Rally (11/8/16-9/14/18) vs. Trump Tariffs (3/8/18-9/14/18)
Optimism at a 20-Year High
US Stock Markets Ended September 14, 2018
US Economy and Credit Markets Ended September 14, 2018
A Snapshot of Moving Averages
A Snapshot of Bond Valuations
Historical Perspective on the Yield Curve
US Stock Markets Ended September 7, 2018
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 advisors 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.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2019 All rights reserved.