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 May 3, 2019
Posted Under: Weekly Market Commentary

US equity markets climbed higher last month as the S&P 500 Index returned 4.05% for April. The index is up 18.25% for the first four months of 2019 giving it the best four-month start in the last 30 years. The S&P 500 Index hit an all-time closing high of 2,945.83 last Wednesday as the index recorded a 22-basis point gain for the week. The Federal Reserve issued a statement on Wednesday leaving rates unchanged and acknowledged that inflation had decreased below their 2% objective. In economic news, US initial jobless claims of 230K matched the previous week's claims but were higher than the consensus estimate of 215K. The US unemployment rate came in at 3.6% for April, the lowest level since December 1969. Nonfarm payrolls gain of 263K was a large increase over the anticipated 190K. Crude oil closed the week at $61.94 per barrel, a decrease of 2.15% for the week. Crude oil prices fell on an unexpected increase in U.S. inventories, contributing to energy being the worst performing sector last week. Marathon Oil Corp, an independent energy company engaged in exploration and production, returned -9.78% last week. The company reported beating earnings estimates on Wednesday, but missed on revenue expectations. Alphabet Inc., internet giant known for Google and the Android operating system, declined 7.50% last Tuesday after releasing earnings. The company's revenue miss had a drag on communication services making it the worst performing sector of the day. Newell Brands Inc., a manufacturer and distributor of housewares and other consumer products, was the week's best performing stock in the S&P 500 Index climbing 16.13%. The stock has been under pressure and declined over 45% in the last twelve months through April, but received a boost last week as Friday's earnings announcement came with positive comments from the CEO on improving results. Incyte Corp, a biopharmaceutical focused on small molecule cancer drugs, increased 10.70% last week as it beat sales and earnings estimates. Many more earnings announcements expected this week.
Posted on Monday, May 6, 2019 @ 8:25 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 May 3, 2019
A 10-Year Snapshot Of Sector Mutual Fund Flows From Retail Investors
How Bonds Have Fared Since 7/8/16
US Stock Markets Ended April 26, 2019
US Economy and Credit Markets Ended April 26, 2019
Consider The Potential Opportunity Costs Before You Sell In May And Go Away!
A Snapshot of Crude Oil Production (U.S. vs. OPEC)
US Stock Markets Ended April 18, 2019
US Economy and Credit Markets Ended April 18, 2019
How Some Major Equity Indices Have Fared In The Recent Correction And Recovery
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.