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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: • 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: • Major indexes closed little changed. • Dow posts 5th consecutive losing session. After falling more than 1% on Tuesday, the first time that’s happened in 109 days, U.S. equities closed little changed from the day prior. However, the Dow did post its 5th consecutive loss closing down 7 points at […]
Equities and the Economy: • Bivouacking continues. • Nasdaq sets intraday record high. Without any significant economic news U.S. equities have been consolidating the last few sessions. Yesterday the Nasdaq managed to post a new intraday high but pulled back in the afternoon and closed up a point from Friday at 5,902. The Dow and […]
Equities and the Economy: • Stocks consolidating. • S&P still up 6.3% for the year. A day after the Fed announced a ¼% rate hike and U.S. equities jumping, stocks treaded water yesterday with the Dow closing down 16 at 20,935 and the S&P 500 off 4 to 2,381. The Nasdaq managed to post a […]
Equities and the Economy: • February jobs report “Goldilocks”. • U.S. post minor losses for the week. Although U.S. stocks closed higher on Friday with the Dow gaining 45 points to 30,903, the S&P 500 up 8 to 2,373 and the Nasdaq adding 23, 0.4%, to finish at 5,862, the major indexes posted minor losses […]
Equities and the Economy: • U.S. stocks close flat to Wednesday. • Yesterday marked the 8th anniversary of this bull market. Yesterday U.S. equities closed basically to Wednesday’s levels with the Dow adding 2 points to 20,858, the S&P 500 edging up the same amount to 2,365 and the Nasdaq rising a single point to […]
Equities and the Economy: • Stocks close lower. • Lofty forward P/E ratios and higher interest rates not compatible. Yesterday stocks retreated on what I consider normal price action. The Dow fell 51 points closing below 21,000 at 20,954, the S&P 500 lost 8 points to 2,375 and the Nasdaq dropped 22 points to 5,849. […]
Equities and the Economy: • Stocks retreat after previous huge day. • Market still looks healthy. After a huge day on Wednesday profit taking came in yesterday and stocks closed lower. The Dow fell 112 points, 0.53%, to remain a gnat’s eyelash above 21,000 at 21,003. The S&P 500 lost 14, 0.59%, to 2,282 and […]
