Today is the last day on which we will publish the Daily Advantage.
Major U.S. equity indexes were higher for the day and for the week.
Stocks rose following a muted reading on U.S. job openings and despite mixed sentiment over revenue roadmaps for Dow components Apple and McDonald’s.
Positive economic data continued to lift the markets, while the disruption to oil supplies caused by Hurricane Harvey pushed up prices of crude oil and gasoline futures.
The continued flooding crisis in Texas and a provocative North Korean missile launch over Japan worried markets today.
Stocks were rattled by growing concern over a possible debt ceiling fight and government shutdown, while investors awaited the kickoff of the Jackson Hole, Wyoming economic symposium and major speeches by Fed Chair Janet Yellen and European Central Bank President Mario Draghi.
In the debate over active vs. passive investing, much of the attention is placed on explaining exactly what it is that active managers do.
A rally in tech, materials, and health care stocks helped turn around the major indexes, which had stalled in the past several sessions.
Stocks sharply reversed course from yesterday’s gains on a broader tech retreat, some disappointing earnings reports, and political uncertainty in the U.S., including speculation that the Trump administration’s chief economic advisor Gary Cohn would resign, which the White House denied, and the dissolution of two business councils.