Indices kicked off the week by closing in the red zone on Monday, with stocks trading slightly lower on a variety of economic news. Revisions to Productivity and Costs were in line with expectations, unchanged from the first quarter. The ISM nonmanufacturing index showed services industry growth decreased in May, dipping from 57.5 in April to 56.9. Tuesday, investors signaled a note of caution when gold prices and government bonds gained. Even a rally in the Energy sector stocks wasn’t enough to offset the losses in the major U.S. stock indices. The trend reversed Wednesday with the indices landing in the green zone ahead of former FBI Director James Comey’s testimony before the Senate Select Committee on Intelligence. Meanwhile, Energy stocks traded lower on a dip in crude oil prices and increased inventory levels. The Energy Information Administration said reserves jumped by 3.3 million barrels, versus expectations for a decrease of 3.5 million barrels. The NASDAQ hit a fresh record high on Thursday, despite turbulent trading prior to former director Comey’s public testimony to the Senate. On another note, Department of Labor data showed jobless claims fell by 10,000 to 245,000. The indices closed the week with mixed results as the Dow Jones Industrial Average hit a new record high while the NASDAQ traded into red territory.
This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.
