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Europe: +44 (0) 207 198 1634 Equities and the Economy Good morning. As I’m sure you know, yesterday the U.S. stock market was closed for President’s Day so we need to go back to Friday for the last price action. On that day stocks closed marginally higher with the Dow climbing 47 points to 18,019 and the S&P 500 rising 9 […]
Equities and the Economy Good morning. Here’s something I bet you wouldn’t expect me to tell you this morning. The S&P 500, which gained 20 points (0.94%) yesterday to 2,088, closed at its highest level this year. Now we’re not at its all-time high set on December 29th at 2,094, but we’re getting pretttttty darn […]
Equities and the Economy Good morning. It’s been a week since the last report so let’s step back just a little bit and see what’s transpired. A week ago the Dow, S&P 500 and Nasdaq ended at 17,666, 2,050 and 4,728, respectively. Yesterday they closed at 17,862, 2,069 and 4,801, respectively. So over the course […]
Equities and the Economy Boom! Did you hear the equity rocket take off yesterday setting off the sonic boom? A super, duper 305 point, 1.76% sonic boom! That’s what the Dow did yesterday closing at 17,666. Of course the two other major indexes also went into the stratosphere with the S&P 500 closing up a […]
Good morning. It was looking like it was going to be a bad day yesterday driven by a report from the Commerce Department stating consumer spending fell in December 0.3% which was worse than the 0.2% economists were forecasting. Additionally, November’s number was revised downward from a 0.6% increase to 0.5%. That’s a big swing […]
Equities and the Economy Good morning. An interesting phenomenon is happening right now. I’ve seen this happen occasionally and it’s happening once again. That is that equity traders are taking their cues from the movements in the price of oil, specifically WTI. Early in the day WTI was getting pounded and equities were trading negative […]
Equities and the Economy Good morning. It was looking pretty good yesterday for most of the day with U.S. stocks trading nicely in the green, and then the bottom fell out. The FOMC finished its regularly scheduled two day meeting yesterday and released its post-meeting communique at around 2 PM Eastern and the market didn’t […]
Equities and the Economy Good morning. As I mentioned yesterday, its earnings season. The “fundamentals” in the equities market. And the fundamentals were not good yesterday. Microsoft, United Technologies, Proctor & Gamble and Caterpillar all came out with disappointing earnings and/or reduction in revenue forecasts, aka sales. If that wasn’t bad enough, Durable Goods Orders […]
Equities and the Economy Breaking a four day winning streak the Dow and S&P 500 closed lower on Friday with the former losing 141 points (0.8%) ending at 17,673 and the latter off 11 points (0.6%). The Nasdaq bucked the trend closing 7 points higher (0.2%) at 4,757. The day might not have been good […]
Equities and the economy Good morning. Over the past few years I’ve occasionally said “thank you” to the Fed for its QE action in supporting the economy which helped drive stocks higher. Now I’m saying “Thank you ECB. Thank you Mr. Draghi!” Six years after the Fed took a similar step, the ECB took its […]
