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3891 Ranchero Drive | Suite 50 | Ann Arbor, MI 48108 | 877-490-7671 | Map/Directions
Ann Arbor



3891 Ranchero Drive
Suite 50
Ann Arbor, MI 48108

877-490-7671

Bartley D. Gravelle, CWA®
Senior Vice President
Complex Manager
734/692-5614
BGravelle@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 seemed to be a mixed blessing for the US markets on Thursday. Shares of Facebook rose nearly 3 percent after the company bested street expectations for second quarter results, but other tech heavyweights Alphabet, Netflix, and Amazon traded in the red. Middling user growth at Twitter sent shares of the social media company down 14 percent. Dow 30 component Procter & Gamble was up 1.6 percent after fourth quarter profits exceeded analyst estimates. The Labor Dept. said jobless claims for the week of July 16th were up by 10,000 to 244,000, which was still near a decades-low level. Almost 200 new orders for Boeing jets helped durable-goods orders in the US rise 6.5 percent in June, according to the Commerce Dept.

The DJIA was up 85.54 points to 21796.55, the NASDAQ lost 40.56 points at 6382.19, and the S&P 500 shed 2.41 points at 2475.42. Dow Transports skidded off 294.51 points at 9189.61, while the Dow Jones Utility Index rose 1.06 points at 723.65. Russell 2000 small caps ended at 1432.37, down 9.90 points. 926 million and 613 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Decliners outnumbered advancers 4 to 3 on the NYSE nearly 2 to 1 on the NASDAQ.

The US dollar strengthened versus major rivals, with the ICE US Dollar Index ending at 93.91, up 0.2 percent. Investors seeming to read the Fed's policy update as generally dovish sent August gold up 0.9 percent at $1260 per ounce. September WTI crude added another 0.6 percent, settling at $49.04 per barrel. 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 were mixed-to-broadly higher Wednesday, with sector action led by telecoms on the strength of AT&T, up 5 percent, which reported better than anticipated Q2 results after last night's close. The Dow 30 was also bolstered by component Boeing, shares of which were almost 10 percent higher after second quarter profits bested street expectations. Advanced Micro Devices and Coca-Cola also benefitted from beating analyst estimates for the quarter. Rising oil prices helped keep markets in the green, and as generally expected the Federal Reserve did not raise interest rates at today's FOMC meeting.

The DJIA jumped 97.58 points to 21711.01 (record close), the NASDAQ added 10.57 points at 6422.75 (record close), and the S&P 500 was up less than a point at 2477.83. Dow Transports lost 5.36 points at 9484.12, while the Dow Jones Utility Index gained 6.73 points at 722.59. Russell 2000 small caps ended at 1442.26, down 8.12 points. 826 million and 723 million shares were traded on the New York Stock Exchange and NASDAQ, respectively. Advancers narrowly outpaced decliners on the NYSE, and decliners outnumbered advancers 15 to 14 on the NASDAQ.

The US dollar weakened as investors seemed to feel the Fed was taking a cautious approach to inflation; the ICE US Dollar Index was off 0.2 percent at 93.81. August gold, which settled before the FOMC announcement, was also off 0.2 percent at $1249.40 per ounce. Data showed US crude inventories fell for the fourth straight week, and September WTI crude settled at $48.75 per barrel, up 1.8 percent. 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. --

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. --
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