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Europe: +44 (0) 207 198 1634 Good morning and welcome back. Driven by a very positive monthly jobs report U.S. equities jumped on Thursday with the Dow closing up 92 points, 0.54%, to 17,068 which was the Dow’s first closing ever over 17,000 and the 3rd consecutive day the bellwether closed at a record high. The S&P 500 gained 11 points, […]
Good morning. As I mentioned in yesterday’s report, ADP reported that according to their research private sector employers hired 281,000 new workers in June far exceeding forecasts by economists. This was a 1 ½ year high reinforcing views the economy is improving after a dismal start. GDP contracted 2.9% in Q1 but growth is forecasted […]
Good morning. Oh so, so close. I’m talking about what I’ve been predicting over the past few months and that is the Dow hitting 17,000. Yesterday we got within a whisker of it with the intraday high just 2 points shy of that level trading 16,998. Unfortunately, the market pulled back from that high with […]
Good morning. U.S. stocks ended Q2 mixed with the Dow closing 25 points lower at 16,826, the S&P 500 falling 1 to 1,960 and the Nasdaq gaining 10 to 4,408. Now for the good news. The S&P recorded its 5th consecutive month of gains and its biggest 2nd quarter since 2009. The benchmark index gained […]
Good morning. It looked like we were going to have a lousy day on Friday for equities were trading negative all day but investors and traders didn’t want to go into the weekend short because we got a late afternoon rally with the Dow up 6 points to 16,852. The S&P 500 closing up 4 […]
Good morning. Yesterday the Dow closed down 22 points at 16,846, the S&P 500 lost 2 to 1,957 and the Nasdaq fell 1 to 4,379. And you should be happy. Why? Because 20 minutes after the open the Dow was down 122 points! Taking “the glass is half full” approach, yesterday was only the 3rd […]
Good morning. Despite some really bad economic data equities rebounded somewhat from Tuesday’s Dow 119 point loss with the Dow rising 28 points to 16,845, the S&P 500 gaining 5 to 1,955 and the Nasdaq adding 14 to 4,365. The economic data was what I mentioned in yesterday’s report which was the Commerce Department’s revision […]
Good morning. The Conference Board reported yesterday that U.S. consumer confidence jumped to its highest level in 6 ½ years in May, 85.2, way beyond economists’ expectations and separately the Commerce Department announced sales of new single family homes rose a stunning 18.6%, the highest rate since May 2008. These reports add to previous data […]
Good morning. Yesterday stocks retreated for the first time in seven days ending a run that took the indexes to new highs. However, and fortunately, the pullback was minor, even insignificant. The Dow lost 10 points closing at 16,937 and the S&P 500 closed flat at 1,963. The Nasdaq actually closed higher up 1 point […]
Good morning. It’s good to be back in the saddle. It’s times like these when I get to reflect on slightly longer time frames in the market. So what’s transpired over the last 13 calendar days and 9 trading sessions? On June 9th the Dow closed at 16,943 and the S&P 500 closed at […]
