February 5, 2019

Market News

Stocks are moving higher to begin Tuesday’s exchange, bolstered by a global rally overseas and stronger-than-expected earnings reports.  The S&P500 is on track for its fifth consecutive day of gains as optimism grows over the propensity of a viable trade deal between the world’s two-largest economies.  Additionally, corporate earnings continue to impress, adding to the risk-on narrative.  The S&P500 is currently trading at 2,731.23, 0.23% higher.

Treasuries are trading marginally higher in the AM as investors avoid major shifts in allocations before U.S. President Donald Trump’s State of the Union Address to Congress.  Pay close attention to the POTUS’ rhetoric tonight as there’s a good chance hot-button financial issues will be harped upon.  Additionally, President Trump met with Fed Chair, Jerome Powell yesterday night to discuss the state of the economy.  Although few details have emerged surrounding the meeting, the Fed released a statement saying that Powell’s comments were “consistent with his remarks at his press conference of last week.”  The U.S. 10-Yr Note is currently trading at 2.6947%, 0.0288 lower.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage