• 1879 Advisors

1/9/20 Market Notes

Stocks look ready to set new record highs, after a strong rally on Wednesday. The Dow Jones Industrial Average ended 161 points higher (0.56%), while the S&P 500 rose ½% and the NASDAQ gained 0.67%.

Nine of the eleven sectors comprising the S&P climbed, as the Utilities sector fell 1 cent and the Energy sector dropped 1.74% as oil prices declined by 5% on easing Middle East tensions. The U.S. dollar was mostly flat, while Treasury yields climbed slightly. As previously mentioned, oil prices had their single biggest daily drop over the past year, as all indications point to a de-escalation of tensions between the United States and Iran.

On the international front, both European and Asian bourses are meaningfully higher this morning, as investors around the globe sigh in relief and focus their attention on improving economic conditions around the globe. The German DAX index is up 1 ¼% and is approaching its all-time high, while the Japanese NIKKEI index is up nearly 2 ½% on renewed optimism that the countries aggressive monetary and fiscal policy moves are having their desired stimulative effect. Premarket U.S. equity futures are pointing to a solidly higher open, as Dow futures are up more than 100% ahead of several speeches from various Fed Governors.


The 1879 Advisors Investment Committee

Disclosures: This market commentary is written by the 1879 Advisors Investment Committee and represents the views of 1879 Advisors. This commentary is not investment advice and should not be used as a basis to make investment decisions. Please consult with your registered investment advisor before making any investment decisions.

2 views0 comments

Recent Posts

See All