Month: June 2019

The Investor Guide to Vanguard Funds for June 2019

The Investor Guide to Vanguard Funds for June is AVAILABLE NOW!  Links to the May data files are posted below. Market Perspective: Economy Confidence Remains High The Dow Jones Industrial […]

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Market Perspective for June 17, 2019

Equities opened higher this week ahead of a crucial Federal Reserve meeting. The Russell 2000 Index rallied 0.67 percent to lead the major indexes. The Nasdaq returned 0.62 percent. Both the Dow and S&P 500 increased 0.09 percent.

SPDR Communication Services (XLC) advanced 1.16 percent to lead S&P 500 sectors on Monday. SPDR Real Estate (XLRE) saw gains as speculators focus on a rate cut. It gained 1.09 percent.

Market volume was light on Monday and should remain relatively light before the Fed announces its policy statement at 2 PM on Wednesday. For the past six trading days, the S&P 500 Index has fluctuated within a tight range between 2910 and 2874, or 1.3 percentage points.

The National Association of Homebuilders’ survey slipped from 66 to 64 in June. Expected sales and customer traffic sub-indexes helped drive the headline number lower. Tuesday brings housing starts and building permits for May. Analysts see both numbers effectively flat from April. Existing home sales for May are out on Friday, which are expected to rise to an annualized pace of 5.28 million.

The week ends with flash manufacturing and services PMIs for major economies around the world.

Crude oil weakened on Monday and closed below $52 per barrel. In good news for consumers, gasoline prices are starting to decline. U.S. Oil (USO) fell 1.10 percent, while U.S. Gasoline (UGA) lost 1.72 percent.

Oracle (ORCL), Adobe (ADBE), Kroger (KR), CarMax (KMX), Canopy Growth (CGC), Darden Restaurants (DRI) and Red Hat (RHT) headline a light week for earnings.

Important Note: Numerous ETFs went ex-dividend on Monday. Some data providers and brokerages platforms haven’t adjusted prices yet. For example, some sites show iShares MSCI EAFE (EFA) down more than 2 percent, though it gained 0.04 percent on the day.

 

The Investor Guide to Fidelity Funds for June 2019

The Investor Guide to Fidelity Funds for June 2019 is Now Available! Market Perspective: Significant Risks Overseas The S&P 500 rallied 25.30 percent off December 2018 lows before correcting 6.58 percent […]

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Market Perspective for June 10, 2019

Equities moved higher on Monday as indexes move to recover recent losses. The Nasdaq rose 1.05 percent. The index has now regained more than half of the 711-point decline in May. The Russell 2000 Index, S&P 500 Index and Dow Jones Industrial Average gained 0.61 percent, 0.47 percent and 0.30 percent on Monday.

Technology led the market higher on Monday after Salesforce.com (CRM) announced it was acquiring Tableau Software (DATA) in an all-stock deal. Although shares DATA dipped on the news, the possibility of more deals boosted the broader sector. SPDR Technology (XLK) gained 1.02 percent. iShares Expanded Tech Software (IGV) gained 0.74 percent.

Raytheon (RTN) and United Technologies (UTX) also announced they will merge in an all stock deal. UTX will spin-off its Carrier and Otis elevator divisions, and the new company will be named Raytheon Technologies. UTX shareholders will own about 57 percent of the new company.

The strong recovery in the market helped push the 10-year yield up to 2.14 percent on the day. Utilities and real estate funds fell as traders rotated away from bets on lower interest rates. iShares Edge Minimum Volatility USA (USMV) dipped 0.10 percent as investors gained confidence in a June rally. Over the past month, USMV beat SPDR S&P 500 (SPY) with a 4.39 percent gain versus 0.79 percent.

The Job Openings and Labor Turnover Survey for April showed 7.45 million openings, on par with March’s 7.47 million. Tuesday brings the National Federation of Independent Business small business confidence index. Produce price inflation is also out Tuesday, followed by the consumer price index on Wednesday. The week closes with retail sales for May and the University of Michigan’s early reading of June consumer sentiment.

Crude oil opened the week near $54 a barrel but fell 1.3 percent on the day. The U.S. Dollar Index gained 0.2 percent after the European Central Bank hinted it might become more active.

The resolution of the trade dispute with Mexico boosted iShares MSCI Emerging Markets (EEM) by more than 1 percent on Monday. Investors are hoping the quick turnaround could spur similarly positive developments when President Trump meets Chinese Premier Xi Jinping at the G20 summit on June 20.

H&R Block (HRB), Chicos FAS (CHS), Dave & Busters (PLAY), Lululemon (LULU), Broadcom (AVGO) and Duluth Holdings (DLTH) highlight a light week for earnings.