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Good morning. Death by a thousand cuts. That’s what’s happening to U.S. stocks. Well folks, the correction is in full swing with the Dow closing down another 223 points lower, 1.35%, at 16,321, the S&P 500 losing another 31 points, 1.65%, to 1,875 and the Nasdaq down another 63, 1.46%, to 4,214. I don’t know […]
Good morning. Thank you Fed. Thank you, thank you, THANK YOU! Yesterday right when the major indexes were posting multi-month lows the minutes of the Fed’s September 16-17 meeting in which was stated that 1) that raising interest rates was data dependent and 2) the Fed was concerned about the strength of the U.S. dollar. […]
Good morning. Well the liquidation and correction is in full swing. Is it the curse of October? Yesterday the market just got pounded extending its losses from Monday with the Dow falling a very material 273 points, 1.60%, the S&P 500 down 30, 1.51%, to 1935 and the Nasdaq closing at 4,385, down 70, 1.56%. […]
Good morning. If you recall yesterday when I wrote this Report the Dow was up 70 points and I mentioned that it was a nice start but as in life it’s how you finish. And equities did not finish well yesterday. Indeed it appears the “pop” we had Friday and yesterday morning was the opportunity […]
Good morning. The grief continued yesterday with equities continuing their descent. The Dow lost 28 points to 17,043, the S&P 500 fell 6 to 1,973 (now well below 2,000) and the Nasdaq dropped 12 to 4,493. Other than the fact the length (time) of this bull market is in record territory and “tired” and in […]
Good morning. Things sure have been choppy lately. After a horrible day last Thursday and a decent rebound Friday stocks once again turned for the worse yesterday with the Dow losing 42 points to 17,071, the S&P 500 fell 5 ending at 1,978 and the Nasdaq slipped 6 to 4,506. Be thankful. It was much […]
Good morning. The Fed finished its two day meeting yesterday and the market liked what it heard. The Dow closed up 25 points at 17,157 which just happens to be a record high, and the S&P 500 gained 3 points putting it back over 2,000 at 2,002 and on an intraday basis coming within one […]
Good morning. I wonder if someone has the Fed meeting bugged. I mean for the last week and a day the equity market were lackluster chopping around looking for direction. That was the way we started out the day yesterday trading on either side of unchanged until about 10:20 CDT and then zoom, off to […]
Good morning. Yesterday was bifurcated. If you were AT&T or ExxonMobil or other members of the Dow you did ok with the Dow (which is 30 stocks) closing up 44 points at 17,031. If you owned the S&P 500 index you yawned with it closing down 1 at 1,984. But if you owned the Nasdaq […]
