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8313 Holly Road | Suite A | Grand Blanc, MI 48439 | 800-243-1439 | Map/Directions
Grand Blanc



8313 Holly Road
Suite A
Grand Blanc, MI 48439

800-243-1439

Delore Salsbury Hurley, CWA®
Branch Manager
810/606-1950
DHurley@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.



Earnings season drove a lot of the action in the US markets Tuesday. Dow 30's Caterpillar and McDonald's helped lift the DJIA, with shares of the components up 5.9 and 4.8 percent, respectively, after the companies reported better than expected Q2 results. With the stock down 2.9 percent Alphabet weighed on the NASDAQ, though the index closed at another record anyway. GOOGL's second quarter revenue of $26 billion missed street consensus of $25.6 billion. Freeport-McMoRan notched a second quarter profit, following a first quarter loss, and shares jumped 14.7 percent. 3M's Q2 revenue came in below analyst expectations, and shares were off 5.1 percent.

The DJIA rose 100.26 points to 21613.43, the NASDAQ added 1.37 points at 6412.17, and the S&P 500 gained 7.17 points to 2477.08 (also a record close).

The US dollar was stronger versus the yen but weaker versus the euro and pound on Tuesday. August gold settled at $1252.10 per ounce, off 0.2 percent. A new pledge from Saudi Arabia for decreased exports of crude and a new pledge from Nigeria for output limits sent oil prices rallying, with September WTI crude settling at $47.89 per barrel, up 3.3 percent. Recent US treasury yields: 1.4 percent for the 2-year note, 1.9 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. --

US markets opened the week on a mixed note, with the NASDAQ shrugging off sluggishness elsewhere to close at another record high. The Dow 30 was lower with shares of components General Electric and Nike off 1.9 and 1.6 percent, respectively. Investors seemed to be treading water a bit ahead of a busy week of earnings releases and the two-day FOMC meeting which starts tomorrow. WebMD Health Corp. shares popped nearly 20 percent after the company announced it will be acquired and taken private by KKR & Co. in a $2.8 billion cash deal. Hasbro fell 9.4 percent after a Q2 revenue miss; Halliburton gave up 4.3 percent despite exceeding quarterly sales and revenue expectations.

The DJIA fell 66.90 points to 21513.17, the NASDAQ gained 23.05 points to 6410.81, and the S&P 500 lost 2.63 points at 2469.91. Dow Transports shed 43.07 points at 9428.20, while the Dow Jones Utility Index was off 6.46 points at 719.02. Russell 2000 small caps ended at 1438.59, up 2.75 points. 821 million and 437 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners outpaced advancers 4 to 3 on the NYSE, and on the NASDAQ advancers outnumbered decliners by a very narrow margin.

The US dollar gained back a little ground Monday, with the US ICE Dollar Index up 0.2 percent to 94.05. The dollar's stabilization made a slight dent in August gold, which settled at $1254.30, down less than 0.1 percent. September WTI crude settled 0.9 percent higher at $46.19 per barrel, following news of Nigeria's plans for production limits and Saudi Arabia pledging fewer exports of crude. Recent US treasury yields: 1.4 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 2.8 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 Dow 30 stumbled Friday, weighed down by investor response to component General Electric's Q2, and US markets mostly ended the week on a subdued note. GE earned $0.15 per share, or $1.19 billion, in the second quarter, off from $0.36 per share or $2.76 billion in the prior year period, though this was a smaller decline than the street had expected. Shares of the conglomerate closed down 2.9 percent. After closing at a record high on Thursday Microsoft shares fell 0.6 percent after last night's earnings release. The software maker said it had fourth quarter net income of $0.83 per share, or $6.5 billion, with sales of $23.3 billion, besting analyst expectations.

The DJIA fell 31.71 points to 21580.07 (-0.3 percent for the week), the NASDAQ lost 2.25 points to 6387.75 (+1.2 percent for the week), and the S&P 500 was off nearly a point at 2472.54 (+0.5 percent for the week). Dow Transports shed 11.82 points at 9471.27, while the Dow Jones Utility Index added 5.67 points at 725.48. Russell 2000 small caps ended at 1435.77, down 6.57 points. 837 million and 498 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners outnumbered advancers 14 to 13 on the NYSE and 16 to 13 on the NASDAQ.

US dollar weakness and investor concerns over potential turmoil in the White House helped strengthen August gold, which settled at $1254.90 per ounce, up 0.8 percent. September WTI crude settled at $45.77 per barrel, off 2.5 percent, on investor expectations that prices could be pressured by increased OPEC output ahead of a major producers meeting on Monday. Recent US treasury yields: 1.3 percent for the 2-year note, 1.8 percent for the 5-year note, 2.2 percent for the 10-year note, and 2.8 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 Dow 30 struggled on Thursday as components Home Depot and Travelers ended down 4.1 and 1.5 percent, respectively. Home Depot may have been hurt by news that competitor Sears's Kenmore appliances will be sold on Amazon.com. Shares of Lowe's Cos. were off 5.6 percent alongside Home Depot. Travelers took a hit after reporting lower second quarter results: for Q2 the insurer earned $2.11 per share, or $595 million, compared to $2.24 per share or $664 million in the prior year period. Elsewhere, Philip Morris Intl. shares declined 1.4 percent after reporting revenue and earnings numbers that missed analyst expectations. Kinder Morgan shares gained 4.7 percent after the company said it anticipated a dividend increase of 60 percent in 2018, and additionally authorized a share buyback program of $2 billion.

The DJIA fell 28.97 points to 21611.78, the NASDAQ added 4.96 points at 6390.00 (another record high close), and the S&P 500 was up less than a point at 2473.45. The Dow Transports dropped 92.64 points to 9483.09, while the Dow Jones Utility Index were higher by 5.10 points at 719.81. Russell 2000 small caps ended at 1441.98, up less than a point. 752 million and 446 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners just barely outnumbered advancers on the NYSE, and advancers outpaced decliners on the NASDAQ 15 to 13.

After a European Central Bank meeting investors seemed to anticipate the bank will start tapering its bond purchase program in autumn. The US dollar lost ground versus the euro and the ICE US Dollar Index gave up 0.5 percent. Inversely, gold futures strengthened, with August gold settling at $1245.50 per ounce, up 0.3 percent. August WTI crude gave up 0.7 percent to settle at $46.79 per barrel. Recent US treasury yields: 1.4 percent for the 2-year note, 1.8 percent for the 5-year note, 2.3 percent for the 10-year note, and 2.8 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 closed mostly in record high territory on Wednesday. Trading was heavy for the financials sector following Morgan Stanley's second quarter results. The investment bank earned $0.87 per share on $8.5 billion in revenue, topping street expectations and prior year period results; shares rose 3.3 percent. Dow Transports were dragged down by United Contential Holdings and CSX Corp. trading off 5.9 and 5.1 percent, respectively, after their earnings reports. According to Marketwatch, Prudential Financial's chief market strategist, Quincy Krosby, believes "It may be a little to soon...to get a sense of where earnings season is heading" despite today's record closes. Investors seem to be looking to tomorrow's Microsoft results and General Electric's on Friday for a better idea about the markets' direction.

The Dow Jones Industrial Average gained 66.02 points at 21640.75, the NASDAQ rose 40.74 points to 6385.04, and the S&P 500 added 13.22 points at 2473.83 -- record closes for each. The Dow Transports shed 57.32 points at 9575.73, while the Dow Jones Utility Index was up 2.93 points at 714.71. Russell 2000 small caps ended at 1441.76, higher by 14.15 points. 710 million and 448 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers outnumbered decliners 3 to 1 on the NYSE and 2 to 1 on the NASDAQ.

US government data showing US crude stockpiles decreased for the third week in a row helped oil futures higher. August WTI crude settled at $47.12 per barrel, up 1.6 percent. August gold settled at $1242 per ounce, up $0.10. The ICE US Dollar Index rose 0.2 percent to 94.759. Recent US treasury yields: 1.4 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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 Securities and Advisory Services offered by J. J. B. Hilliard, W.L. Lyons, LLC, A Registered Broker Dealer and Investment Advisor, Member NYSE / FINRA / SIPC. Trust Services are offered through Hilliard Lyons Trust Company, LLC, an affiliate of J. J. B. Hilliard, W.L. Lyons, LLC. Hilliard Lyons does not offer legal, accounting or tax advice. You should consult your own tax or legal counsel prior to making any decision that may affect your tax or legal situation. To understand how Hilliard Lyons is compensated for its services, please click here.

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