Bringing The Pieces Together

Why We're Unique (PDF)
Our Belief System (PDF)
Member Login


Today's Commentary
Friday, July 31, 2015

U.S. stocks started the week with another round of selling as the impact of a sharp sell-off in China hit the world’s financial markets.

The Dow Jones Industrial Average fell 0.7% to the lowest level in six months as China’s Shanghai Composite plummeted 8.5%.

The S&P 500 was off 0.6%, and the Nasdaq dropped 1%. International markets were even harder hit with France’s CAC and Germany’s DAX both down 2.6%. The U.K.’s FTSE 100 fell 1.1%.

Nine of the 10 S&P sectors lost ground, with interest-sensitive utilities the only gainer. The Dow Jones Utility Average closed 1.4% higher. But the economically sensitive Dow Jones Transportation Average fell less than the others, off just 0.2% on lower-than-average volume.

Gold rose 1% to $1,096.50 an ounce, reflecting investors’ flight to safety, as did the increase in the price of the 10-year note, with its yield falling to 2.23%.

The health care sector benefited from better-than-expected earnings from Teva Pharmaceutical Industries Ltd (ADR) (TEVA) and news of its acquisition of Allergan PLC’s (AGN) generic drug business for a reported $40.5 billion.

Durable goods orders rose 3.4% in June after a decline in May. Analysts had expected an increase of 3%. 

Phone: (502) 442-0363, Fax: (502) 442-0367
Click here for BBB Business Review
603 North Shore Drive, Suite 102, Jeffersonville, IN 47130