Financial Sector Paves the Way for Gains

All major indices finished up today after financial sector earnings started off positive. JPMorgan beat analyst estimates for earnings per share. In the energy sector Chevron announced they intended to buy Anadarko Petroleum for $33 billion. This sent Chevron down almost 5% and Anadarko up more than 30%. Disney also announced their streaming service coming…

Choppy Performance For Stocks

Reaction to the Fed Minutes was muted, showing the Fed having rate flexibility in the year and no base expectations of a rate cut. This came alongside CPI data that saw prices rising 1.9% year over year, with the core rate (excludes food and energy) up 2%. The House Financial Services Committee meeting provided some…

Mixed Results on Light Economic Data

The S&P 500 Index and the NASDAQ Composite finished slightly higher Monday, but the Dow Jones Industrial Average finished in the red, mainly due to more negative news about China cancelling $6 billion in orders with Boeing. Economic data was light but showed factory orders down 0.5% month over month, slightly higher than the consensus…