Stock Indices Recap – 8/17/2017Posted 08/17/2017 3:41PM CT |
September S&P finished up 32.5 at 2500, -33.3 off the high and 71.8 up from the low. September S&P E-Mini closed down 37.5 at 2430. This was 2.25 up from the low and 38.5 off the high.
The equity markets finally gave ground off of the growing mountain of negative the stories flowing in the headlines. Today’s flow of negative information included rumors of a possible resignation of a key Trump economic advisor, news of a terrorist attack in Barcelona and a decline in Walmart profit margins. In fact, Walmart also produced a negative quarterly outlook and despite the prominence of Amazon, Walmart continues to be a very important bellwether company. It would also appear as if the accumulation of negative political rancor from Washington is finally pushing some investors to the sidelines.