US Markets

Stock prices turned in a mixed performance for September as large-cap issues trended higher and trade talks progressed. Meanwhile, technology stocks struggled, pulling the NASDAQ Composite down.

The Dow Jones Industrials picked up 1.9 percent while the Standard & Poor’s 500 Index gained 0.43 percent. The NASDAQ Composite Index lagged, falling 0.78 percent.1

                                     Noblest.png

Markets opened on a weak note as technology stocks reacted to congressional testimony regarding social media's influence. Markets were further depressed by a slump in oil prices, as well as President Trump’s plans for further tariffs on Chinese goods.

All About Trade

Once the details of these tariffs were announced, investors were encouraged that U.S. tariffs were less harsh than expected and China’s retaliatory tariffs were lower than threatened.

The news came as a welcome relief, leading to a wave of new buying that propelled the Dow Jones Industrials and the S&P 500 to new historical highs. However, technology and small-capitalization stocks played a limited role in this run-up.

Fed Bumps Rates

With the month coming to an end, the Fed announced a 0.25 percent hike in the federal funds rate and raised the potential for an additional hike before year-end. Though the hike was telegraphed to investors, markets trended lower following the news.

Sector Scorecard

While the S&P 500 Index ended the month in positive territory, only selected sectors participated in the rally. Gains were seen by five industry sectors, including Consumer Discretionary (+2.37 percent), Energy (+1.15 percent), Health Care (+2.71 percent), Industrials (+0.98 percent), and Technology (+0.12 percent). Declines were recorded in Communication Services (-0.90 percent), Consumer Staples (-0.44 percent), Financials (-2.66 percent), Materials (-2.74 percent), Real Estate (-3.97 percent), and Utilities (-2.83 percent)

Randy MMI graph2016Logo

 

Randall L. Franklin, CPA/PFS, CFP® 

Madisonville Office

Phone: 270-875-4640

Fax: 270-342-0002

113 East Center Street

Suite A

Madisonville, KY 42431

This email address is being protected from spambots. You need JavaScript enabled to view it. 

Mon-Fri: 8:30 AM - 4:30PM

Sat: By Appointment

sitelogosm© Copyright 2008 - 2018 SurfKY News Group, Inc. All rights reserved.
This material may not be published, broadcast, or rewritten without permission.

Click here to subscribe to receive daily updates by email.

Most Read This Week

Dec 09, 2018 970

Henderson Authorities Charge 3 with Meth Trafficking

by Doreen Dennis, SurfKY News
Dec 09, 2018 434

DAVE SAYS: Don't Put Emergency Fund into Bonds

by SurfKY News
Dec 08, 2018 318

Lady Aces Level E-Gals, 53-21

by Steve LeMaster
Dec 09, 2018 290

We are all Family at Henderson Chevrolet

by Gwen Smith

Most Read This Month

Dec 07, 2018 12069

UPDATE: Corydon Man Charged with Attempted Murder

by Nick Risley
Nov 30, 2018 6418

Madisonville Woman Charged with Eluding Police, Biting City Officer

by Doreen Dennis, SurfKY News

Weather brought to you by

32°
°F | °C
Cloudy
Humidity: 59%
Mon
Partly Cloudy
25 | 40
-3 | 4
Tue
Partly Cloudy
24 | 46
-4 | 7
Wed
Mostly Cloudy
36 | 46
2 | 7
Thu
Scattered Showers
36 | 49
2 | 9

Market Report brought to you by

 

Market Report

Stories Trending Today

Barker
Dec 09, 2018 173

Authorities Track Down Georgia Man across Southern Hopkins Co.

by Doreen Dennis, SurfKY News