Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

The Week In Review


The major averages tried their best, but finished in the red for the day and the week after news broke that Iran seized a British oil tanker and The Wall Street Journal reported that the Fed is signaling only a 25-basis points rate cut at the end of July. The Dow Jones Industrial Average fell 68 points to 27,154 after rising more than 100 points earlier in the session. The S&P 500 closed down 0.6% and the Nasdaq Composite slid 0.7%. For the week, the S&P 500 and Nasdaq fell more than 1% each, notching their biggest weekly loss since late May. The Dow fell 0.6% for the week after making all-time highs earlier in the week.

Microsoft shares hit a record after the tech giant posted quarterly earnings and revenue that topped analyst expectations. The company's results were driven by a 39% year-over-year surge in cloud revenue. The stock closed just 0.15% higher, however. Another Dow component, Boeing rose 4% after it announced a $4.9 billion charge for its 737 MAX grounding, less than investors feared.

Heightened tensions in the Middle East did spur a rebound in oil prices which contributed to the outperformance of the S&P 500 energy sector up 0.5%. Eight of the 11 S&P 500 sectors finished in the red lead by real estate down 1.7%, utilities down 1.5% and communication services down 1.3%.

Transport stocks went on a roller-coaster ride this week outperforming today after KC Southern rose 4.6% following earnings results. The Dow Jones Transportation Average advanced 0.6% to cut its weekly loss to just 0.3%.


All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.