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 Stocks Ended Nov. 25, 2016
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

 
The Dow Jones Industrial Average and the S&P 500 closed at record highs on Friday amid expectations for less regulation, reduced corporate taxation and higher infrastructure spend. Stocks rose for the third consecutive week with the largest gains coming from small-cap stocks as the Russell 2000 closed higher for the 15th consecutive trading day on Friday. In economic news, existing home sales unexpectedly climbed in October to their highest level since February 2007 as higher incomes, steady hiring and stronger consumer balance sheets drove demand for homes. However, new home sales for October slightly missed expectations. In stock news, Deere & Co. shares surged after doubling analyst expectations for fiscal fourth quarter earnings on cost cuts as revenue declined for the third consecutive year. Shares of Eli Lilly fell nearly 10% for the week after announcing disappointing Phase 3 results for its Alzheimer's drug Solanuzemab. Dollar Tree Inc. rose after better-than-expected same store sales as increased traffic and purchases per costumer drove better comparable sales. Despite beating earnings for the current quarter, Palo Alto Networks Inc. declined after reporting disappointing revenue guidance as the cybersecurity company transitions to a cloud-based subscription model. Looking ahead, investors will be focused on November's employment report and the Fed meeting on December 14th, which is now pricing in a 100% chance of a rate hike, according to the futures market.
Posted on Monday, November 28, 2016 @ 8:03 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


 PREVIOUS POSTS
US Economy and Credit Markets Ended Nov. 25, 2016
The U.S. Dollar Is Once Again Testing The Upper Limits Of Its Recent Range
US Stocks Ended Nov. 18, 2016
US Economy and Credit Markets Ended Nov. 18, 2016
Now That The Election Is Over
Investor Sentiment In Equities Shifted After Midyear
The Market is Risk On
US Stocks Ended Nov. 11, 2016
US Economy and Credit Markets Ended Nov. 11, 2016
A Snapshot of S&P 500 Breadth
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 © 2022 All rights reserved.