Roland Stoever: Market Week: July 31, 2017

Monday, Jul 31, 2017

Roland Stoever
Stoever Glass & Co., Inc.
P: (800) 223-3881
E: roland@stoeverglass.com

The Markets (as of market close July 28, 2017)

Of the benchmark indexes listed here, only the Dow and the Global Dow posted gains last week. The remaining indexes closed the week modestly lower, despite a rise in energy stocks following Saudi Arabia's promise to cut back oil production. Technology shares fell, which hampered both the Nasdaq and S&P 500. Quarterly earnings reports from large U.S. companies contributed to the Dow's gains last week. While the Federal Reserve held interest rates at their current levels, it did reveal its intention to reduce its holdings of mortgage-backed securities and Treasuries relatively soon, which could push long-term interest rates higher.

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