News: Yesterday markets opened on a weak note, with good reason too. New unemployment claims were above 250,000 for the second week in a row. Preliminary GDP numbers met a technical definition of a recession. Let’s cut through the crap … Recessions are more complicated than a single number. And by the time a recession …
News: It was hard to find a loser yesterday. The market opened up higher after getting better than expected durable goods orders. In June, orders increased by 1.9% Economists expected a decline of 0.4% Earnings For the Bulls On a big earnings day, buyers pushed select stocks higher. Some notable winners from yesterday include: Chipotle …
News: Yesterday markets opened lower and fell through the day. All 4 indexes closed the day deep in the red. Nasdaq -1.9% S&P 500 -1.2% Dow Jones -0.7% Russell 2000 -0.7% Recession fears topped the negative sentiment as the IMF updated its 2023 forecast to “gloomy and more uncertain.” Banks are raising interest rates, and …
7/27/22 It’s “Gloomy,” but The Market Loves Powell Read More »
News: Markets closed mixed on Monday. The Nasdaq fell 0.4%, while the remaining three indexes rose between 0.1% and 0.6%. There was little conviction from buyers or sellers. It appears the markets are in a wait-and-see mode as investors anticipate the Fed’s next move. The FOMC meeting starts today. Sector Watch Energy was the leading …
News: On Friday, the markets ended the week on a down note … The Nasdaq shed nearly 2% (but gained 2.5% on the week) as social media stocks tumbled. Dow Jones -0.4% (weekly +2.0%) S&P 500 -0.9% (weekly +2.5%) Generally, It was still a positive week for stocks. But not all… Social Media Got Crushed …
News: Yesterday markets opened lower and with good reason… The European Central Bank (ECB) surprised the markets with a 0.5% boost to its lending rate. Traders expected a 0.25% increase This is the first rate increase for the ECB in 11 years And new unemployment claims jumped to a new 8-month high with 251,000 filings. …
7/22/22 Downtrend Broken! Plus, a Surprise Rate Hike & An Insider Trading Bust Read More »
News: Yesterday was another day of gains, especially for the “risk on” areas of the market. The Nasdaq and Russell 2000 posted gains of 1.6% each. The Dow and S&P 500 closed green but with gains under 1%. Overnight the flow of natural gas from Russia to the EU resumed. Image from Reuters The flow …
News: Yesterday, buyers couldn’t find a price they didn’t like. More than 80% of stocks closed the day higher. The indexes surged, with gains ranging from 2.4% for the Dow to 3.5% for the Russell 2000. The S&P 500 and Nasdaq gained about 3% each. Sector Watch Photo by Brett Sayles from Pexels The day’s …
7/20/22 Turn Around Tuesday w/Stranger Things Bonus Read More »
News: Yesterday markets opened higher and held their gains into the afternoon. But as lunchtime ended, the indexes erased their gains. The divide between winners and losers was nearly 50/50 … But the large caps dragged the indexes down. The three major indexes declined about ¾ percent each. Want a reason? Take your pick… Apple …
News: Friday started with a bang! According to the U.S. Census Bureau, Retail spending rose 1% in June, topping the estimates and smashing expectations. Image from Stockvault Markets surged higher in unison, and the four big indexes rose 2% (+/-0.2) each. The mid-morning release of the Consumer Sentiment survey put wind in the buyer’s sails …
7/18/22 Retail Shows Resilience, Earnings Season Begins Read More »
