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Europe: +44 (0) 207 198 1634 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: • Investors risk appetite increases after risk-off holiday weekend. • U.S. stocks bounce back. After three sessions of losses putting the indexes at two month lows on Thursday U.S. equities rallied hefty yesterday with investors putting back on the risk they’d taken off before the holiday weekend. The Dow rose a […]
Equities and the Economy: • Major stock indexes close lower on Thursday for 3rd consecutive session. • All three indexes post weekly losses. It was a lousy Thursday with the major equity indexes taking it on the chin in the holiday shortened week. The Dow lost 139 points, 0.7%, finishing at 20,453, the S&P 500 […]
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: • Price action subdued yesterday. • Investors digesting Syrian attack. U.S. stocks ended little changed yesterday with the Dow posting a 15 point gain to 20,663, the S&P 500 closing 5 points higher at 2,357 and the Nasdaq rising 14 points to 5,879. Forget yesterday for as everyone reading my Blog […]
