June 19, 2017
U.S. equities finished a choppy session and week mixed amid some disappointing economic data and continued pressure from technology stocks. In equity news, Amazon.com inked a deal to acquire Whole Foods Market for roughly $13.7 billion. The Dow Jones Industrial rose 0.1% to 21,384, the S&P 500 Index inched nearly a point higher to 2,433, while the Nasdaq Composite fell 0.2% to 6,152. Treasuries were higher, as the yield on the 2-year note decreased four points to 1.31%, while the yields on the 10-year note and the 30-year bond declined a point each to 2.15% and 2.78%.
Global markets were up overnight and domestic stock index futures pointed to a higher open. With little economic data due out today, market participants will be on the lookout for any key statements made by two Fed presidents, just days after the central bank decided to raise rates for the second time this year. The economic calendar for the week ahead remains light, but will bring us more housing data with the releases of new and existing home sales. Manufacturing and business activity will also likely see discussion with the release of Markit’s preliminary Manufacturing and Services PMIs.
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