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Europe: +44 (0) 207 198 1634 Equities and the Economy: • First Goldman, now IBM. • Dow closes at lowest level since February 10th. Tuesday it was Goldman Sachs’ disappointing earnings that sent the Dow lower. Yesterday it was IBM. The company reported weaker than expected sales in Q1 and investors punished the company pushing its stock price down 3.9%, its […]
Equities and the Economy: • Stocks end materially lower. • Unexpectedly weak earnings from Goldman Sachs and Johnson & Johnson to blame. I’ve been telling you that S&P 500 P/E ratios are lofty and a company’s earnings better come in at expectations or its stock will get pounded, and that’s exactly what happened yesterday, at […]
Equities and the Economy: • Stocks fall for 6th time out of 9. • Yield on 10 year Treasury lowest since November. It’s been like Chinese water torture lately for equities. Drip, drip, drip lower. Yesterday the indexes closed lower for the 6th session out of 9 with the Dow off 59 points to 20,592, […]
Equities and the Economy: • Rotation into safe haven assets. • VIX is at highest level since last November. Equities pared material intraday losses, the Dow down as much at 146 points, to close marginally lower. The Dow finished off 7 points at 20,651, the S&P 500 fell 3 points to 2,354 and the Nasdaq […]
Equities and the Economy: • Choppy day on Wall Street. • Stocks eke out small gain. U.S. stocks ended a choppy session yesterday finishing virtually flat to Friday’s closes. Both the Dow and S&P 500 closed up a couple of points to 20,658 and 2,357, respectively, and the Nasdaq finished 3 points higher at 5,881. […]
Equities and the Economy: • Employment report for March shows smallest gain in new jobs in a year. • Stocks shrug off report posting marginal losses. Always a big report, the Labor Department released its Employment Situation Report for March on Friday with the headline being that U.S. employers added just 98,000 new jobs, the […]
Equities and the Economy: • Trading muted. • Earnings need to verify current lofty stock prices. The action was muted yesterday with the Dow closing up 39 at 20,689, the S&P 500 adding a single point to 2,360 and the Nasdaq closing 4 points higher at 2,692. At the macro level there really hasn’t been […]
Equities and the Economy: • U.S. stocks suffer marginal loss yesterday. • Disappointing auto sales weigh. U.S. equities closed marginally lower yesterday under the weight of disappointing auto sales. The Dow lost 13 points ending at 20,650, the S&P 500 closed down 4 at 2,359 and the Nasdaq fell 17 points to 5,895. GM, Ford […]
Equities and the Economy: • Stocks post marginal losses on Friday. • Solid gains for Q1. The major U.S. stock indexes closed marginally lower on Friday with the Dow falling 65 points to 20,663, the S&P 500 off 5 to 2,363 and the Nasdaq losing 3 points to 5,912. Looking at it from a longer […]
Equities and the Economy: • U.S. stocks close higher on upwardly revised Q4 2016 GDP. • Nasdaq logs 21st record high. The Commerce Department reported revised Q4 2016 GDP data yesterday noting GPD for the quarter rose 2.1%, up from the previously reported 1.9%. The rise was due to increased consumer spending which rose 3.5% […]
