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 Nov. 29, 2019
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Equities moved higher for the holiday-shortened week amid economic data-points and strength within the consumer discretionary sector. In economic news, U.S. gross domestic production growth for the third-quarter was revised higher to 2.1% versus a preliminary reading of 1.9%. In addition, durable goods orders grew by 0.6% versus an expected decline of 0.9%, while new homes sales fell. Retail stocks were boosted by a strong earning's report from Best Buy Co Inc. after the consumer-electronics retailer increased its forecast for the Christmas shopping season. Dick's Sporting Goods Inc. also beat expectations on strong same-store-sales growth and an improvement in margins. Both stocks gained over 10% for the week. In other stock news, Deere & Co. shares fell after a depressed 2020 outlook that called for agriculture-related sales to fall by 5-10% and construction sales to fall by 10-15%. The large equipment maker is feeling adverse effects from tariffs on farmers and weakening global growth. Looking ahead to next week, investors will be focused on commentary around Black Friday and Cyber Monday to gauge the strength of the consumer. Additionally, continuing trade negotiations with China will remain on investors' minds, especially with the Hong Kong Human Rights and Democracy Act being signed into law by President Trump. Longer term, the recent uptick in economic data bodes well for markets and could be the catalyst the market needs to continue to hit new highs.
Posted on Monday, December 2, 2019 @ 8:27 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 Nov. 29, 2019
How Stocks Have Fared In Presidential Election Years
US Stock Markets Ended Nov. 22, 2019
US Economy and Credit Markets Ended Nov. 22, 2019
Sector Performance Via Market Capitalization (Since Steel/Aluminum Tariffs Enacted)
Still Waiting For The Great Rotation Out Of Bond Mutual Funds
US Stock Markets Ended Nov.15, 2019
US Economy and Credit Markets Ended Nov.15, 2019
Information Technology + Consumer Discretionary = E-commerce
Equity Investors Opting For Blended Portfolios Over Growth And Value
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.