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Europe: +44 (0) 207 198 1634 Good morning. Equities started the day nicely higher after Mario Draghi of the ECB announced the central bank was cutting its benchmark interest rate to a record low, from 0.15% to 0.05% (seriously? A 0.1% drop ain’t going to help or hurt my portfolio) and planned to purchase asset-backed securities (now THAT will have an […]
Good morning. Stocks ended mostly down yesterday with the Dow rising 11 points ending at 17,078, the S&P 500 falling 2 to 2,001 and the Nasdaq getting hit 26 points settling at 4,573. While the former two indexes waffled on either side of unchanged the Nasdaq got whacked 0.56% dragged down by Apple which fell […]
Good morning. We came in from a holiday weekend yesterday and were greeted with some really good economic data. The Institute of Supply Management reported that its Manufacturing Index rose from 57.1 in July to 59.0 in August which is the highest level since March 2011. Additionally, the actual number came in much better than […]
Stocks rallied on Friday fueling the Dow’s biggest monthly gain since February. The Dow gained 19 points on the last trading session of the month closing at 17,098 and capping a 3.2% rise in August. The S&P 500 rose 7 points to 2,003 posting a very nice 3.8% gain last month. It was exactly a […]
Good morning. Equities closed lower yesterday but, as the black knight said to King Arthur, “Tis but a scratch!” The Dow fell 42 points to 17,080, the S&P 500 lost 3 to 1,997 and the Nasdaq dropped 12 to 4,557. If one must rationalize these losses blame it on the escalation of the conflict in […]
Good morning. Equities drifted on either side of unchanged all day yesterday but the S&P 500 did manage to eke out its third record close in three days by the barest of margins, 1/10th of one point. Being I round the equity indexes to the unit figure the result was that yesterday’s close was the […]
Good morning. Another excellent day for 401K’s. Worldwide stock indexes rose modestly yesterday on expectations of more stimulus from the ECB and positive economic data here in the U.S. The benchmark S&P 500 closed above 2000 for the first time ever, right at 2000, up 2 points. The Dow added 30 points to 17,107 and […]
Good morning. By now we know the correlation. More QE, higher equities. This time, as mentioned in yesterday’s Morning Energy Report, the impetus came from across the pond on ECB President Mario Draghi’s comments stating he’d use all available tools to stimulate growth in the EU. Folks that’s a euphemism for QE. And if there’s […]
Good morning. After four straight up sessions U.S. equities took a pause with the Dow shedding 38 points but managing to stay above 17,000 by just 1 point, the S&P 500 slipping 4 points to 1,988 while the Nasdaq eked out a gain of 6 points to close at 4,539. Folks, we fared much, much […]
Good morning. Back in H-town again after a stint in SoCal. Went from awesome weather to a heat index of 103, which is the reason I always go there in August! So let’s see how things have changed over the last 8 calendar days. The last Morning Energy Report was published on 8/13 reflecting market […]
