January 29, 2019

Market News

Stocks are little changed in the AM as investors patiently await results from stalwart U.S. corporations.  About ¼ of the S&P500’s market capitalization has reported Q4 earnings so far, with 65% of firms beating bottom-line expectations.  A lot is riding on Q4 earnings as investors remain skeptical in the midst of a global economic slowdown, trade tensions, and political turmoil.  The S&P500 is currently trading at 2,644.01, 0.01% higher.

Treasuries are little changed to begin Tuesday’s exchange as the U.S. Central Bank kicks off their two-day policy meeting.  Analysts are expecting the Fed to stick with their “patient” narrative, as economic conditions at this point in time do not seem to warrant another 25bp increase.  Bloomberg currently has the odds of a rate hike tomorrow pegged at 0%.  The U.S. 10 Yr Note is currently trading at 2.7259%, 0.0181 lower.

 

Josh Pappert – VP, Capital Markets
Nations Direct Mortgage