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Bob Carey
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  US Stock Markets Ended May 17, 2019
Posted Under: Weekly Market Commentary
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After reaching a new high on the last day of April, the S&P 500 has trended down in May. Despite trading higher in the middle of the week, the index traded lower by -0.76% to close out last week and is up over 14% since the start of the year. The markets rode the wave of trade talks with China. The potential talks have been a highly watched event leading up to the Group of 20 meeting in Japan next month. On Friday, President Trump announced a delay on tariffs on imported vehicles from the EU, Japan, and other nations. The delay allows the focus to be on China and not with some of the United States key allies. The trade war was felt in Deere shares as the stock traded lower after releasing lower than expected earnings which highlighted a dimming company outlook. Tensions in the Middle East have come back into play with President Donald Trump trying to navigate the conflict and its implications on his chances at winning a second term. The global risk-off trade has pushed emerging market stocks down since the mid-April highs. The basket of emerging market currencies has erased its year to date gain. Back in the domestic markets, some highlights were in consumer stocks. COTY, Inc, a manufacturer of beauty products, was the best performing stock in the S&P 500 after insider filings showed its management have been purchasing the stock after an additional 20% of the company was purchased by JAB Investments in April. Under Armour, a sports apparel manufacturer, was upgraded by analysts after the company completed a 3-year strategic initiative focused on inventory and cost reduction. Looking ahead to next week, housing and jobs numbers will be on investor's radar.
Posted on Monday, May 20, 2019 @ 8:25 AM • Post Link Share: 
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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.
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