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 August 10, 2018
Posted Under: Weekly Market Commentary
Supporting Image for Blog Post

Small-cap equites outperformed large-caps last week as the S&P SmallCap 600 Index returned 0.78% and the S&P 500 Index returned -0.18%. The S&P 500 index showed a gain of 65 bps through Tuesday as consumer discretionary, energy, information technology, and financials sectors led the climb. However, equities leveled off on news of more Chinese import tariffs from the Trump administration. The S&P 500 Index opened down on Friday as equity markets around the globe declined on negative news of Turkey's financial crisis. Turkey's economy is struggling as their currency continues to lose value, increasing the amount Turkish companies owe on their foreign debts. US initial jobless claims of 213K were lower than the consensus estimate of 220K and the previous week's 218K. Crude oil prices closed the week at $67.63 per barrel, declining 1.26% for the week. Tesla Inc., an electric vehicle manufacturer, jumped 10.99% on Tuesday after CEO Elon Musk tweeted he is contemplating taking the company private and claiming to have secured funding. Media outlets began reporting that regulators are looking into his use of social media instead of a filing to announce his possible intentions. CenturyLink Inc., a telecommunications company, was the week's best performing stock in the S&P 500 Index. The stock returned 13.54% last week after announcing stronger than expected second quarter earnings and increasing their profit outlook for 2018. Michael Kors Holdings Limited, a designer and distributor of apparel and accessories, returned 13.12% last week. The company announced better than expected quarterly earnings on improving adjusted gross margins, decreased product discounting, and strong sales in their Jimmy Choo shoe line. Among the companies reporting this week are Walmart Inc., The Home Depot Inc., Cisco Systems Inc., NVIDIA Corp, Applied Materials Inc. and many others.
Posted on Monday, August 13, 2018 @ 8:34 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 August 10, 2018
A Snapshot of U.S. Styles/Market Caps
Passive vs. Active Fund Flows
US Stock Markets Ended August 3, 2018
US Economy and Credit Markets Ended August 3, 2018
A Snapshot of Growth vs. Value Investing
How Some Major Global Equity Indices Have Performed Since 11/8/16
US Stock Markets Ended July 27, 2018
US Economy and Credit Markets Ended July 27, 2018
U.S. Crude Oil & Natural Gas Rig Counts
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 © 2023 All rights reserved.