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 Oct. 25, 2019
Posted Under: Weekly Market Commentary

 
The S&P 500 closed near a record high on Friday after news of a positive phone call between Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He temporarily lifted the index into record territory. Technology stocks led the index on Friday after positive news from Intel Corp and Apple Inc. hit an all-time high. Amazon.com Inc reported much lower than expected earnings while staying upbeat on the future of the company. On the West Coast, California wildfires have triggered a state of emergency. Utility company PG&E has announced plans to cut electricity to 850,000 customers in the affected areas as ferocious winds have increased the risk of electrical fires. Back in the Midwest, General Motors employees ratified the labor agreement that was reached with the United Auto Workers. The latest GM strike has cost the company almost $2 billion dollars. According to insiders, after the GM agreement was finalized, the UAW now has its sights set on Ford Motor Co. Social media stocks were closely watched this week as both Facebook and Twitter had price moving headlines. On Wednesday, Facebook CEO Mark Zuckerburg was on Capitol Hill to discuss his company's involvement with a proposed cryptocurrency named Libra. The exchange quickly veered into other criticisms of the platform focusing much of the conversation around political and government influence. The next day, Twitter announced its third-quarter results and fourth-quarter outlook. Both measures disappointed investors and the stock dropped over 20% to close out the week. Looking ahead to next week, the strength of the consumer will be in focus as wholesale and retail inventories are released on Monday with home sales and mortgage applications coming on Tuesday and Wednesday.
Posted on Monday, October 28, 2019 @ 8:13 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 Oct. 25, 2019
A Snapshot of Growth vs. Value Investing
Bank Dividend Payouts Are Trending Higher
US Stock Markets Ended Oct. 18, 2019
US Economy and Credit Markets Ended Oct. 18, 2019
Yield Spreads Between Government And Municipal Bonds Favors Tax-Frees
A Snapshot of Moving Averages
US Stock Markets Ended Oct. 11, 2019
US Economy and Credit Markets Ended Oct. 11, 2019
How Some Major S&P Stock Indices Have Fared Since The 2016 Brexit Vote
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.