US Stock Markets Ended January 18, 2019

Stocks continued to rise for a fourth week in a row as the S&P 500 returned 2.9% driven by Financials and Technology stocks. JP Morgan reported earnings on Tuesday that came in below expectations, but management showed increased investments in key customer growth segments. Netflix reported on Thursday in the face of a 50% return since it's Christmas Eve low. Revenue grew by 27% in the fourth quarter and the company announced a price increase of $1 to $2 a month in the U.S. Oil prices climbed over $53 a barrel, the highest price in five weeks. Strong factory number coupled with a path to a trade truce with China improved investor confidence in the global economy. Trade sensitive industrial stocks such as Deere and Caterpillar Inc rose on the Friday news. In Brexit news, the House of Commons voted 432 to 202 against the deal led by Prime Minister Theresa May. The vote was followed by a no confidence vote, which was narrowly defeated, keeping May in leadership. Fifty-nine companies are set to report earnings next week. Industry bellwethers Johnson & Johnson and Proctor & Gamble are set to report Tuesday and Wednesday respectively. Home sales, wholesale inventories, and durable goods are all on the economic calendar next week. Investors will look to these indicators as well as the long running government shutdown to navigate the market during the holiday shortened week.
Posted on Tuesday, January 22, 2019 @ 8:09 AM

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.