Daily Stock Market News Jan. 30, 2017: After a politically chaotic weekend, stock prices fell in all three major indices, today. This is the beginning of a week in which more than one hundred large companies will report their earnings, which intensified the uncertainty. See details of what happened in the market today, as well as the closing numbers.
U.S. Stock Market Closing Prices Jan. 30, 2017:
Dow Jones Industrial Averages: 19,971.13 -122.65 (-0.61 percent)
S & P 500: 2,280.90 -13.79 (-0.60 percent)
NASDAQ: 5,613.71 -47.07 (-0.83 percent)
Crude Oil: $52.57 a barrel
Today’s Stock Market and Economic News:
According to the Wall Street Journal this morning, the expected earnings reports and economic news this week will help investors determine whether or not U.S. stocks can sustain their recent gains. Early this morning, within an hour of the markets opening, the Dow had fallen 176 points and was back below 20,000. Later, it closed down 122 points. Earnings will be reported this week for more than 100 of America’s largest companies.
On Friday afternoon, President Trump signed an executive order calling for a travel ban from seven countries with a Muslim majority. A number of people who had duel citizenship or green cards and were traveling home from those countries were detained over the weekend, resulting in demonstrations at airports and chaos. Some business leaders stepped forward to say they would help refugees, once they are allowed to move here.
Stock futures fell, partially as a result of the immigration controversy, combined with all the earnings reports which are expected this week.
It didn’t help that oil prices dropped, primarily because the U.S. has increased its oil output. OPEC recently put caps on their production in an attempt to stabilize and, hopefully, raise oil prices. The increase in U.S. production is undermining that effort, however, and could cause OPEC countries to cheat to their agreed limits.
The Economic Record under the Past Few Presidents:
Median monthly jobs added
Obama: 186,000 a month
Bush: 61,000 a month
Clinton: 252,000 a month
Median yearly net wage growth
Obama: 2.2 percent
Bush: 3.3 percent
Clinton: 3.5 percent
Average of compound annual growth rate for S&P 500 Total Returns
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.
Twitter.com / MSN Money / Market Watch / YahooFinance / Bloomberg / Reuters / Wall Street Journal and other public news sources
Statistics on the past three presidential administrations: marketwatch.com/story/the-trump-scoreboard-track-the-markets-and-economy-under-trump-in-one-graphic-2017-01-20?link=sfmw_tw
Share with your friendsFollow Us