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2900 South State Street | St. Joseph, MI 49085 | 800-215-6983 | Map/Directions
St. Joseph



2900 South State Street
St. Joseph, MI 49085

800-215-6983

Jeffery W. Neumann, CFP®,CWA®
Senior Vice President
Branch Manager
269/983-7500
JNeumann@hilliard.com

Welcome to Hilliard Lyons

When you partner with Hilliard Lyons, you have the comfort of knowing that your Financial Consultant will guide you toward a portfolio appropriate for you. The experience of your Hilliard Lyons Financial Consultant will keep you focused on long-term goals, regardless of which way the market is moving at the moment.

Hilliard Lyons' Financial Consultants do not take a packaged approach to investing. They are committed to finding the most appropriate investments for you. Toward this end, we encourage you to ask questions of our Financial Consultants and to field questions from them. They are trained to raise issues that may not be obvious on the surface. We invite you to call or email us today to find out how we can help you accomplish your financial objectives.

Daily Market Comment

Daily Market Recap -


Updated Each Business Day at Approximately 4:30 pm ET.



On Friday investors seemed to tread with more caution than they demonstrated earlier in the week, and US markets were mostly lower for the day, though tech heavyweights Alphabet Inc., up 3.7 percent for the day, and Amazon.com, up 0.7 percent, possibly offset some downside. Earnings season continued: among the stocks whose shares were higher today on better than anticipated results were Western Digital, Goodyear Tire & Rubber, Chevron, and Exxon Mobil. Companies whose shares took a hit after results didn't meet street expectations included VF Corp., Starbucks, and Colgate-Palmolive. The US Dept. of Commerce said first quarter 2017 gross domestic product increased at a scant rate of 0.7 percent, below economist expectations and the increases from the last two quarters of 2016.

The Dow Jones Industrial Average fell 40.82 points to 20940.51 (+1.3 percent for the month), the NASDAQ lost 1.33 points at 6047.61 (+2.3 percent for the month), and the S&P 500 shed 4.57 points at 2384.20 (+0.9 percent for the month). The Dow Transports slumped 96.36 points to 9097.63, while the Dow Jones Utility Index sagged 3.23 points at 704.35. Russell 2000 small caps ended the session at 1402.66, off 14.46 points. 1 billion and 546 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners outnumbered advancers on both the NYSE and NASDAQ roughly 17 to 11.

The ICE US Dollar Index fell 0.1 percent in today's session, and for the month declined around 1.6 percent. A weaker dollar let gold prices rise over 1 percent in April. Today gold for June delivery settled at $1268.30 per ounce, up 0.2 percent. June WTI crude settled at $49.33 per barrel, up 0.7 percent. For the month oil prices declined around 2.5 percent. Recent US treasury yields: 1.3 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 3.0 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --

The NASDAQ ended in record territory again on Thursday, with US markets broadly higher in response to a slew of earnings reports, though gains were somewhat tempered by the lowest oil prices in a month. Stocks whose shares were rewarded today by investors for better than anticipated first quarter results included Bristol-Myers Squibb, Domino's Pizza, PayPal, and Under Armour. Stocks losing some ground on quarterly results included Ford Motor, American Airlines, Dow Chemical, and Southwest Airlines. The Census Bureau reported the March US trade gap widened from February's $63.9 million to $64.8 billion. The Commerce Dept. said new US durable goods orders were higher in March by 0.7 percent. For the week of April 16th the Labor Dept. said there were 257,000 initial jobless claims, above economist forecasts.

The Dow Jones Industrial Average rose 6.24 points to 20981.33, the NASDAQ gained 23.71 points at 6048.94, and the S&P 500 added 1.32 points at 2388.77. The Dow Transports jumped 26.25 points at 9193.99, while the Dow Jones Utility Index were up 2.41 points at 707.58. Russell 2000 small caps ended the session at 1417.12, down 2.30 points. 1 billion and 474 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners just barely bested advancers on the NYSE 4 to 3, and on the NASDAQ decliners outpaced advancers 15 to 13.

Gold for June delivery was a scant 0.1 percent higher, settling at $1265.90 per ounce. With the largest oil field in Libya back in production and crude production in the US also increasing oil prices took a hit. June WTI crude settled at $48.97 per barrel, off 1.3 percent. Recent US treasury yields: 1.3 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 3.0 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --

US markets mostly held on to positive, if choppy, territory until late in the session Wednesday. Dow 30 components Boeing and Procter & Gamble declined 1 and 2.5 percent, respectively, after revenues at each fell short of street consensus estimates for the first quarter. Earnings season continued in full force; Twitter, Chipotle Mexican Grill, Arconic Inc., and Anthem Inc. were among the stocks whose share prices were boosted today by expectation-topping quarterly results. US Treasury Secretary Steven Mnuchin and National Economic Director Gary Cohn presented an outline of President Trump's tax reform goals, with more specific details to come at a later date.

The Dow Jones Industrial Average gave up 21.03 points at 20975.09, the NASDAQ was off less than a point at 6025.23, and the S&P 500 lost 1.16 points at 2387.45. The Dow Jones Utility Index shed 3.25 points at 705.17, while the Dow Transports slumped 81.68 points to 9167.74. Russell 2000 small caps ended the session at 1419.84, up 8.76 points. 962 million and 474 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers bested decliners on the NYSE 4 to 3, and 17 to 11 on the NASDAQ.

The ICE US Dollar Index gained 0.2 percent at 98.97 after the tax reform announcement brought few unexpected plans. Gold for June delivery settled at $1264.20 per ounce, down 0.2 percent. Data from the US government showed a third week of lower crude supplies, but enthusiasm was tempered by a rise in gasoline and distillates inventories, and oil prices fell, with June WTI crude settling at $49.62 per barrel, off 0.1 percent. Treasury prices fell and yields rose narrowly. Recent US treasury yields: 1.3 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 3.0 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --

On Tuesday US markets were lifted by investor enthusiasm regarding a slew of quarterly earnings releases. The Dow Jones Industrial Average was bolstered by components Caterpillar, McDonald's, and DuPont, which all beat street estimates and closed up 7.9, 5.5, and 3.6 percent, respectively. Additionally, Goldman Sachs shares closed up 1.5 percent, with the company perhaps benefitting today from increasing expectations of further federal interest rate hikes later this year. The Dow 30 ended at 20996.12, up 232.23 points.

Upbeat earnings also benefitted the NASDAQ Comp, which climbed past the 6,000 milestone in early trading and closed at a record high of 6025.49, up 41.67 points. The S&P 500 added 14.46 points at 2388.61. The Dow Jones Utility Index gave up less than a point at 708.42, and the Dow Transports shed 33.57 points at 9249.42. Russell 2000 small caps ended the session at 1411.75, higher by 13.80 points. 927 million and 462 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers outpaced decliners on both the NYSE and NASDAQ roughly 2 to 1.

Ahead of any announcement of tax reform plans from President Trump, the US dollar strengthened more versus the yen but had a harder time versus the euro, and the ICE Dollar Index was down 0.3 percent at 98.77. Gold futures lost a bit of luster, with gold for June delivery settling at $1267.20 per ounce, off 0.8 percent. June WTI crude settled at $49.56 per barrel, a modest 0.7 percent higher. US treasury yields rose as prices dropped slightly. Recent yields: 1.3 percent for the 2-year note, 1.6 percent for the 5-year note, 2.3 percent for the 10-year note, and 3.0 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --

US stock markets started the week with investor enthusiasm following the first round of France's presidential election, in which centrist Emmanuel Macron advanced to the final round of voting on May 7th. The Dow Jones Industrial Average was boosted by financials JPMorgan Chase and Goldman Sachs Group, which closed up 3.5 and 3 percent, respectively. The Financial Times reported Albertsons was considering a Whole Foods takeover bid, sending Whole Foods shares 2 percent higher. Shares of Hasbro climbed 5.9 percent after the toy maker said its net earnings rose to $48.8 million, or $0.54 per share, in Q1'17, on revenue of $849.7 million, beating street expectations.

The Dow 30 rallied 216.13 points to 20703.89, the S&P 500 gained 25.46 points to 2374.15, and the NASDAQ added 73.30 points at 5983.82. The Dow Jones Utility Index was 3.02 points higher at 709.03, while the Dow Transports jumped 149.18 points to 9282.99. Russell 2000 small caps ended the session at 1398.23, up 18.37 points. 906 million and 467 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers bested decliners on both the NYSE and NASDAQ 5 to 2.

Investor relief over the French election added strength to the US dollar versus the yen, but put gold futures in the red. Gold for June delivery settled at $1277.50 per ounce, down 0.9 percent. Oil futures were dampened by concerns over increasing US production and, according to MarketWatch, "the ability of OPEC to achieve an extension of a program of production curbs." June WTI crude settled at $49.23 per barrel, off 0.8 percent. Recent Treasury yields: 1.2 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 2.9 percent for the 30-year bond.

-- Clients with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8820 or (502) 588-8820. Members of the media are advised to contact Gary England at 1-800-444-1854 x1738 or (502) 588-1738. --
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