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Europe: +44 (0) 207 198 1634 Good morning. Despite some really bad economic data equities rebounded somewhat from Tuesday’s Dow 119 point loss with the Dow rising 28 points to 16,845, the S&P 500 gaining 5 to 1,955 and the Nasdaq adding 14 to 4,365. The economic data was what I mentioned in yesterday’s report which was the Commerce Department’s revision […]
Good morning. The Conference Board reported yesterday that U.S. consumer confidence jumped to its highest level in 6 ½ years in May, 85.2, way beyond economists’ expectations and separately the Commerce Department announced sales of new single family homes rose a stunning 18.6%, the highest rate since May 2008. These reports add to previous data […]
Good morning. Yesterday stocks retreated for the first time in seven days ending a run that took the indexes to new highs. However, and fortunately, the pullback was minor, even insignificant. The Dow lost 10 points closing at 16,937 and the S&P 500 closed flat at 1,963. The Nasdaq actually closed higher up 1 point […]
Good morning. It’s good to be back in the saddle. It’s times like these when I get to reflect on slightly longer time frames in the market. So what’s transpired over the last 13 calendar days and 9 trading sessions? On June 9th the Dow closed at 16,943 and the S&P 500 closed at […]
Good morning. Well it happened again. For the 7th time in 8 sessions the S&P 500 set a record high gaining 2 points closing at 1,951. The records haven’t been set in leaps but by a very slow grind as it scales the Wall of Worry. Not to be left behind the Dow also closed […]
Good morning. It was a very good day for your 401K on Friday. On the heels of a positive Labor Department May payrolls report all the major indexes rose once again. While the report didn’t point to spectacular growth the main thing is that the world’s biggest economy is moving in the right direction and […]
Good morning. You can tip your Bowler to the Europeans for the S&P 500 setting another record high yesterday, which by the way was the 7th time in 8 sessions. Yesterday the ECB cut interest rates to record lows and it pledge to do more if needed to fight off the risk of deflation pushing […]
Good morning. After a very brief reprieve yesterday of not setting a new record, and that was because it closed unchanged, the S&P 500 once again set another record high, and again by the barest of margins closing up 3 points to 1,927. Not the most convincing movement, eh? And on light volume ahead of […]
Good morning. It’s as if the summer doldrums have set into stocks. In irons for you sailors. Yes the Dow and S&P 500 are closing at new highs but ever so barely; like by one point which happened Monday. Yesterday the S&P closed literally unchanged from Monday at 1,973. The Dow fell 21 points after […]
Good morning. You wouldn’t have known by the end results yesterday but it was a pretty crazy ride intraday. The day began with the Institute of Supply Management reported its index of national factory activity fell to 53.2 in May from 54.9 in April sending stocks falling. They then came out and said “Whoops, my […]
