Daily Stock Market News Jan. 19, 2017: Although several items of good news for the economy were released this morning, stocks fell modestly, partially due to uncertainty over what will happen during the Trump economy. Housing starts were up; oil supplies and unemployment claims were down. See more details and today’s closing numbers.
U.S. Stock Market Closing Prices Jan. 19, 2017:
Dow Jones Industrial Averages: 19,732.40 -72.32 (-0.37 percent)
S & P 500: 2,263.69 -8.20 (-0.36 percent)
NASDAQ: 5,540.08 -15.57 (-0.28 percent)
Crude Oil: $52.15 a barrel
Today’s Stock Market and Economic News:
The day before the inauguration of the 45th president of the United States, nervousness over changing economic policies caused the stock market to slip slightly.
There continued to be positive economic news at the end of the Obama Administration, however. Unemployment remains low with first time unemployment claims dropping.
In addition, housing starts are soaring in the U.S., lead by apartment construction projects.
The OPEC production cuts seem to have stabilized the price of oil, helping it stay above $50 a barrel. As a result, energy stocks are looking good to some investors.
One of the issues which make investors nervous is the repeal of Obamacare. This could have a dire effect on healthcare, pharmaceutical and insurance stocks, unless steps are carefully taken to insure that does not happen.
Last Year’s Stock Market and Economic Highlights for 2016:
If you wish to compare 2017 to 2016, here are a few of the most notable events in the stock market and the economy last year:
The Dow Jones Industrial Average rose 13.4 percent during 2016.
The S&P 500 climbed over 9 percent in 2016.
The Nasdaq was up over 7 percent during the year.
Average hourly wages were up over 2.4 percent during the year.
Unemployment dropped to 4.7 percent by the end of 2016.
Over 2 million new jobs were added to the economy during the 2016 (11.3 million jobs created during the Obama administration, with job growth for a record 75 straight months).
In 2016, auto sales hit a new record high of 17.5 million.
According to the Openfolio app, 77 percent of investors in the stock market made money in 2016. The average investor made just over 5 percent in 2016.
The Federal Reserve raised their benchmark interest rate once … in Dec., 2016.
Home prices ended the year at all-time highs.
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