Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

The Dow marks history

By Charles Payne, CEO & Principal Analyst
8/2/2017 1:13 PM
Take a Free Trial
Try Charles' premium stock selection services free for 7 days. Check it out in real time! You will get actionable advice, trading ideas and email alerts.

The Dow Industrials reached the 22,000 mark briefly for the first time ever driven entirely by Apple’s earnings results, putting the index on track for its seventh consecutive daily rise. The broader market pulled back on weakness in the energy sector.

Oil prices slipped despite modest draw in crude inventories. The Energy Information Administration (EIA) reported a smaller than expected decline in the U.S. crude inventories                      

Petroleum Inventories

Actual

Estimate

Crude

-1.5 million

-3.0 million

Gasoline

-2.5 million

-0.6 million

Distillates

-0.2 million

-0.5 million

Adding a positive note on the day, data showed U.S. private employers added 178,000 jobs in July, more than expected, according to ADP.  This is a good sign for what will be reported tomorrow on the nonfarm payrolls reports.

These are the sectors that showed the greatest gain;

Declining issues outnumbered advancers on the NYSE by 1,871 to 866. On the Nasdaq, 2,114 issues fell and 601 advanced.


Comments
One of the analyst on Seeking Alpha posted an article with the opinion the Market was set to crash within the next few weeks based on several factors, and that people should get out and convert to cash soon ..... What's everyone's thoughts?

Mary D Tackett on 8/2/2017 3:39:12 PM
 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.