January 23, 2019

 

Market News

Stocks are trending higher to begin Wednesday’s exchange, bolstered by a round of stronger-than-expected earnings from stalwart U.S. firms.  IBM, Procter & Gamble, and United Technologies posted strong Q4 reports yesterday, increasing optimism on the street.  Yesterday, U.S. equities suffered their worst day in 2019 after the IMF lopped 0.1 and 0.2 percentage points off of 2019 and 2020’s growth outlook.  The S&P500 is currently trading at 2,649.62, 0.64% higher.

Treasuries are moving lower in the AM as equities snap back from a dismal outing on Tuesday.  Risk on seems to be the mood today on Wall Street, as the slowing global growth, trade war, and government shutdown narratives take a backseat in the wake on stronger-than-expected earnings results.  So far, 61 companies in the S&P500 have reported, with almost 79% beating expectations.  The U.S. 10-Yr Note is currently trading at 2.7570%, 0.0179 higher.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage