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| Market focus- | Friday- July 30, 2010 | ||
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Earnings and corporate forecast send stock up Earnings season brings quarterly earnings and corporate forecasts which traders trade on as with today's market along with the energy sector sent equities higher with more to come this evening. The Dow added a slight gain on the session while tech and the broader market rocked with a 0.81 percent gain. Apple Inc. and Goldman Sachs blowout earnings is sure to send stocks galloping to new year highs Wednesday, barring any dreadful bad news. Tuesday, April 20, 2010
Goldman Sachs derails stock market; SEC files fraud charges Friday Traders couldn't make it seven in a row after the SEC's announcement that fraud charges were being filed against Goldman Sachs Friday, which brought back old memories of the subprime days.
U.S. stocks fell in morning trade Friday, in a knee jerk reaction to the news but was able to bounce back midday to regain some lost ground, with the Dow ending the week slightly higher, the NASDAQ held on for over 1 percent gain on the week, while the broader market suffered a slight loss.
Fridays market drop is a great example of how a forecast of the fundamentals of the market can be positive but stocks get trashed when surprise news catches traders off guard. Whether this will last or not is the question on traders minds this weekend, as its iffy to whether there are more shoes to drop in this latest chapter of the subprime mess. Saturday, April 17, 2010
Stocks post six straight positive sessions despite data U.S. stocks moved up again Thursday, making it 6 straight sessions with gains, that's despite the poor jobless initial claims data this morning. The major indexes, Dow and S&P 500, added fractional gains while the tech sector of stocks almost gained a half percent. Somewhat disappointing rise in unemployment initial claims didn't slow the market down, as U.S. stocks rose for a 6th. straight session. Unemployment initial claims rose to 484,000 which is up 24,000 from the previous weeks reading. Data from several weeks show that new claims are channeling, that is, claim-numbers reported by the Government are moving, or charting, sideways. This could indicate, at least in the short-term, firings and layoffs by corporations are continuing at nearly the same rate. It was reported today by analysts that the Easter holiday may have had an effect over the several week rise in initial claims. Thursday, April 15, 2010
Initial unemployment claims 484,000 an increase of 24,000 last week The Government reported unemployment new claims rose, again last week, by another 24,000, making initial claims stand at 484,000. Chart shows a leveling off of new claims, which isn't good for those getting fired, but shows Corporate America producing more work with less employees, traditionally good for the stock market. Initial claims chart shows new claims leveling off. Thursday, April 15, 2010
Earnings, earnings, earnings sends traders to bid prices higher Intel earnings (Intel beat estimates) Tuesday set the after hours market on fire and set the trading theme for Wednesdays, helped by JPMorgan results.
That's all traders wanted is real good earnings news to send the equity market up with the Dow Industrials closing with a triple digit win. The tech heavy NASDAQ stocks led the charge with the broader market following as the averages close up 1.2 percent, aggregated.
Core CPI, which excludes food and energy, held steady in March, lessening fear of inflation. Fed Chief Ben Bernanke keeps reiterating of low levels of rates for an extended period- you would think he shouldn't have to say it every week. All good news, along with March retail sales, sent the equity market higher Wednesday. Wednesday, April 14, 2010
Stocks sluggish after Alcoa and before Intel The only economical data point this morning was the trade figures that showed the deficit widening. That was the only economical data for traders to trade on which led to the equity market being sluggish. The market also had earnings (Alcoa) to trade and hope for a better start to earnings season with CSX and Intel. The stock market continued its grinding higher adding to hefty gains from this thirteen month rally. Both Intel and CSX beat expectations and their stock price were higher in after hours. Tuesday, April 13, 2010
Dow cements 11,000 ahead of earnings The Dow Jones Industrial Average closes above 11,000 for the first time since late 2008. U.S. stocks ended flat as markets get ready for earnings seasons- starting with Alcoa after the close.
Alcoa reported in line as expected, said the markets they're in are improving. Alcoa share price rose in the regular session, but moved slightly lower in the after hours session. Monday, April 12, 2010
The Blue Chip index briefly penetrates the 11,000 mark Friday The Blue Chip (DJIA) index briefly punched through the 11,000 mark as trading neared the close Friday. Investors and traders did cheer the accomplishment even if it was short-lived. The DJIA closed just slightly under the non technical level. The other major indexes each closed with a gain of 0.7 percent. Friday, April 9, 2010
Stocks dip and recover some lost ground NASDAQ stocks are continuing to outperform the broader market, as the Dow Jones and S&P 500 ended better than 1/2 percent lower Wednesday.
Former Chief Alan Greenspan testified Wednesday, shook hands with special committee members, but then had to defend his tenure, while Chief Ben Bernanke was mostly upbeat over the economic recovery, so the reports went today. Consumer confidence report also put traders and investors on edge, getting some of the blame for stocks ending lower Wednesday.
Thomas Hoenig, the Federal Reserve Chief over the Federal Reserve's tenth district bank, according to March 16, 2010 meeting minutes, is trying to encourage FOMC committee members to change the language used in the monetary policy statement that accompanies rate hike announcements. He wants a change that will ease-in rate hikes, sooner rather than later.
Traders and investors don't see rate hikes as a good thing, normally, and more times than not a knee-jerk reaction to sell or curtail buying often leads markets lower. Wednesday, April 7, 2010
Slow news day sees advancers and laggards A lack of news and data today saw stocks still make an advanced but ended off the session high. NASDAQ market of stocks continue a strong showing with the S&P 500 broader market trailing today as the Dow Index posted a slight loss on the day.
The Federal Reserve released the March 16th FOMC minutes. Sentiment among most of the members reiterate no change to the target of the Federal funds rate for the foreseeable future. Tuesday, April 6, 2010
Leading indicator gets downgraded on April Fools day Forecast models downgraded the Barometer Leading Indicator (BLI) from positive to neutral during the afternoon run Thursday.
Midmorning the downturn was in progress and had accelerated just before 2:00p. Many had though stocks would finish flat, at best.
Equities reversed direction at about 2:30p with heavy volume in the last minutes of trading, sending the averages back up to near the high of the session.
The April Fools move caught some traders off guard and a little short near the end of the day as they jumped back into buying mode sending stocks back up to near session highs. Thursday, April 1, 2010
Full agenda this shortened week with payroll on Friday A lot happening this week as it is a short trading week with markets closed on Friday, for the Good Friday holiday; nonfarm payroll report is scheduled for Friday and nearly all the market is looking for jobs creation, not jobs lost; nearing the end of the First Quarter, traders are rebalancing and pushing stocks higher continuing the March rally; and lastly, gearing up for quarterly earnings which could prove to be an interesting time for equities.
Consumer income and spending data, released before the open, showed consumer spending rose 0.3 percent in February, while income was virtually unchanged rising less than 0.1 percent.
The Dollar was under some pressure as the Greece credit troubles were being settled, helped traders to send stocks to gain, with the Dow Jones up 0.4 percent, the NASDAQ up 0.4 percent, and the S&P 500 higher by 0.6 percent. Monday, March 29, 2010
Rally gains evaporate as the Dollar soars on UK troubles Investors and traders were primed early for the rally, even before the jobless report. The jobless report showed another decline in new unemployment claims which fortified the Futures this morning and when the open came, stock began the rally only to be helped along by Best Buy and Qualcomm business outlook.
Around 1:00- 1:30pm ET stocks topped off and moved sideways, when the Dollar Index began surging higher, sending stocks lower. On again, off again trouble in the UK saw the Dollar soar as traders then began selling stocks down, as the Dollar and stock market continue to inverse trade. Stocks ended mixed with the Dow higher fractionally, while the NASDAQ and S&P 500 ended fractionally lower.
Two more major data points. One tomorrow when we find out the GDP numbers and then again the following Friday when we get to see if American corporations were able to create jobs and get a fresh look at the unemployment-rate for March. Thursday, March 25, 2010
Late day buying spree push stocks higher Traders like volatility but there hasn't been any of late, just a steady climb higher for the stock market. No exception for most of the day as a news day that had housing data show a decline and the President signing the health care reform bill kept stocks trending higher.
At about 3:00 pm, buyers decided to push the stock market higher, closing virtually at the high of the session. traders talk today of an expected good GDP number this Friday and a very hopeful nonfarm jobs creation number- yes, jobs creation. More and more marketeers are hopeful that we will see a plus number from the Government, as it seem forever we've had a jobs lost report.
Anyway, something kicked stocks higher as the close approached, as sellers were sidelined and Shorts probably saw the need to cover positions. The Dow Jones Index outperformed the other two majors, but not by much. All in all, the market added near 0.8 percent. Tuesday, March 23, 2010
Dow ramps up, posts gain, broader market virtually unchanged The DJIA posted another gain as blue chips continue ramping up, to keep up with the other major indexes.
Unemployment report from the Government shows a small decline in new claims last week as data continues to point to a slow U.S. job recovery for Corporate America.
Another Government report shows that the headline number for the Consumer Price Index was unchanged for February as energy price declines help to reduce prices in February for consumer. Core CPI (Headline CPI less food and energy) gained 0.1 percent, as expected by analysts. Thursday, March 18, 2010
Stocks post another gain, steady as she goes, but where's the retail investor Traders got a morale booster when the Government released the Producer Price Index (PPI) report, manufacturing inflation data, that showed an unexpected decline in the headline PPI number of 0.6 percent. It indicates no inflation concerns for the near future, which gives the Fed more room to hold off rate hikes. Traders ran stock up earl but had to settle for half as much at the close.
Federal Reserve Chief Bernanke and Paul Volcker were on the Hill with Congress testifying. Bernanke taking a stance on how the Fed should oversee big and small banks.
The equity market ended higher, well off the highs of the session, making today seven positive sessions out of the last ten, with the other three mixed. The stock market ended Wednesday with nearly 1/2 percent gain. Stock market gains are steady but not like previous bull markets where the volume has been greater.
Stock and fund inflows indicate that the retail investor may have been scared off from entering this bull market much worse that other Bull markets, as this time around lots of investors lost lots of portfolio worth and to date haven't regained the loss. It may be that investors are just waiting for the right time to get in, or like some believe, that it may be years, or more, before the retail side of the market picks up. Wednesday, March 17, 2010
Rates left unchanged, Fed says economy strengthening The one day FOMC meeting moved the U.S. stock market Tuesday with no rate hike, as the Fed keeps the target for the Fed funds rate at near zero.
In the accompanying monetary policy statement the Fed said economic recovery is strengthening. Oil prices rose as did gold price and other commodities in near lock step with the Fed announcement released at 2:15 PM ET.
The S&P 500 index posted a 0.8 percent gain, the NASDAQ posted a 0.7 percent gain, and the Dow Jones Industrials posted a 0.4 percent rise.
Oil ramped up Tuesday to nearly $82 per barrel; gold prices moved higher; the Dollar index slip shortly after the Fed announcement; the Euro and Yen pressure the Dollar. Tuesday, March 16, 2010
Stock market adds another positive session on a hopeful new leg up Make it eight positive session out of 10 with today's last hour romp higher as traders seesaw all day but at the end drive stocks higher.
The DJIA, NASDAQ, and S&P 500 all close with nearly 1/2 percent gain as the unemployment new claims data showed 6,000 less American workers showed up to claims unemployment last week. This time last year claims were near 662,000, today shows 200,000 less indicating that the economy is healing somewhat. Thursday, March 11, 2010- corrected 3/12/2010- 8:49a
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