U.S. equities suffered a wild ride on Wednesday, initially surging higher thanks to a stronger-than-expected payroll report — lifting expectations for Friday’s jobs figures.
ADP reported 263,000 jobs created in March versus 170,000 expected, and even exceeding the 245,000 reported for February. But then, the release of hawkish minutes from the Federal Reserve’s March meeting crushed sentiment, pushing large-caps into the red on concerns policymakers are worried about lofty financial asset valuations (read: stocks are too expensive and bubbly) and could thus start normalizing their $4.5 trillion balance sheet before the end of the year.
As a reminder, before the financial crisis, the Fed’s balance sheet totaled around $1 trillion. Bringing it back to normal, by allowing asset purchased during multiple rounds of quantitative easing, will quickly dry up liquidity in the capital markets.
In the end, the Dow Jones Industrial Average lost 0.2%, the S&P 500 lost 0.3%, the Nasdaq Composite lost 0.6% and the Russell 2000 lost 1.2%. Treasury bonds were stronger, the dollar was weaker, gold lost 0.8% despite the risk-off dynamic in play and crude oil couldn’t hold early strength and finished lower.
Top Financial Stocks To Invest In 2019: Heritage-Crystal Clean, Inc.(HCCI)
Advisors' Opinion:- [By Max Byerly]
Get a free copy of the Zacks research report on Heritage Crystal Clean (HCCI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Max Byerly]
Get a free copy of the Zacks research report on Heritage-Crystal Clean (HCCI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Top Financial Stocks To Invest In 2019: Merck & Company, Inc.(MRK)
Advisors' Opinion:- [By Paul Ausick]
The Dow stock posting the largest daily percentage gain ahead of the close Wednesday was Merck & Co. Inc. (NYSE: MRK) which traded up about 2.55% at $55.12. The stock’s 52-week range is $52.97 to $66.41. Volume was about 30% below the daily average of around 13 million. The company had no specific news.
- [By Shane Hupp]
Cobblestone Capital Advisors LLC NY decreased its holdings in Merck & Co. (NYSE:MRK) by 1.1% in the first quarter, Holdings Channel reports. The fund owned 186,306 shares of the company’s stock after selling 2,090 shares during the period. Merck & Co. accounts for approximately 1.0% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 26th largest holding. Cobblestone Capital Advisors LLC NY’s holdings in Merck & Co. were worth $10,148,000 as of its most recent filing with the Securities and Exchange Commission.
- [By Keith Speights]
All three of these apply to Pfizer (NYSE:PFE), but they also all apply to Merck (NYSE:MRK). Both pharmaceutical companies have successful�products with sizzling sales, but both have experienced headwinds that have weighed on their�overall revenue and earnings growth.�
- [By Stephan Byrd]
Get a free copy of the Zacks research report on Merck & Co. (MRK)
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Top Financial Stocks To Invest In 2019: NewMarket Corporation(NEU)
Advisors' Opinion:- [By Ethan Ryder]
Get a free copy of the Zacks research report on NewMarket (NEU)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
- [By Logan Wallace]
Neumark (CURRENCY:NEU) traded down 1.5% against the U.S. dollar during the one day period ending at 10:00 AM E.T. on June 8th. In the last seven days, Neumark has traded up 3.6% against the U.S. dollar. One Neumark token can now be purchased for about $0.39 or 0.00005083 BTC on popular exchanges including EtherDelta (ForkDelta), YoBit, Liqui and HitBTC. Neumark has a total market cap of $11.07 million and approximately $118,143.00 worth of Neumark was traded on exchanges in the last day.
Echelon Corporation develops, markets, and sells embedded components, modules, edge servers, and software. The company offers chips, gateways, and design and management software to original equipment manufacturers under the LONWORKS and IzoT brands. It also provides a range of control networking solutions under the LumInsight and Lumewave by Echelon brands that consist of wired and wireless control nodes; smart gateways for interconnecting the control nodes; and a software-based Central Management System, which is used for startup, commissioning, management, and monitoring of the lighting network. The company markets its products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific/Japan through direct sales organization, third-party electronics representatives, value-added resellers, and distributors. Echelon Corporation was founded in 1988 and is headquartered in Santa Clara, California.
Lantronix, Inc. provides secure data access and management solutions for Internet of Things (IoT) assets in the Americas, Europe, the Middle East, Africa, and the Asia Pacific Japan. The company's IoT products include IoT gateways, which provide secure connectivity and the ability to add integrated device management and advanced data access features; and IoT building blocks that offer basic secure machine connectivity and unmanaged data access. It also offers information technology (IT) management products, which comprise console management, power management, and keyboard video mouse products that offer remote access to IT and networking infrastructure deployed in test labs, data centers, and server rooms; and xPrintServer. The company provides its IT management product line and external IoT solutions through value added resellers, systems integrators, distributors, consumers, online retailers, IT resellers, corporate customers, and government entities, e-tailers, original design manufacturers, and original equipment manufacturers. Lantronix, Inc. was founded in 1989 and is headquartered in Irvine, California.