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Europe: +44 (0) 207 198 1634 Equities and the Economy: • A second quiet day on Wall Street. • Nasdaq posts another record high. It was a tepid day for U.S. equities yesterday but the Nasdaq outperformed closing up 24 points, 0.4%, at a new record high of 6,049. The technology-heavy index has been on a tear! It’s up a huge […]
Equities and the Economy: • Investors pile back into stocks after the French elections. • Nasdaq posts another record high. Relieved that centrist Emmanuel Macron garnered the most votes in round one of the French elections investors poured back into stocks sending both European and U.S. stocks soaring. France’s CAC 40 skyrocketed up 4.14% ending […]
Equities and the Economy: • U.S. stocks closed lower on Friday but up for the week. • First round of French elections over and it’s “risk on” today. The major U.S. indexes closed lower on Friday with the Dow falling 31 points to 20,548, the S&P 500 off 7 points to 2,349 and the Nasdaq […]
Equities and the Economy: • Earnings and government speak drive the major indexes higher. • Nasdaq sets record high. Strong earnings from American Express comments by Treasury Secretary Steven Mnuchin and Commerce Secretary Wilbur Ross drove stocks higher yesterday with the Dow popping a hefty 174 points, 0.9%, to 20,579, the S&P 500 rose 18 […]
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: • Day started good. Ended bad. • ADP data shows U.S. Labor market strong. Boy did it look like it was going to be a very good day. The ADP Research Institute reported yesterday the private sector added 263,000 jobs last month which was not only 70 thousand above the consensus […]
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 […]
