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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 […]
Good morning. After a two day rebound stocks paused yesterday with the Dow falling 9 points to 16,561, the S&P 500 was down 3 to 1,934 and the Nasdaq lost 12 to 4,389. The economic news released yesterday on the U.S. economy was pleasantly positive but overshadowing this data was geopolitical news, specifically Iraq and […]
Good Good morning. U.S. equities ended higher yesterday extending Friday’s rally as investors viewed Russia’s move to send humanitarian aid to Ukraine would ease tensions between the two countries. They may be getting humanitarian aid but Ukraine is saying that contrary to Russian reports of de-escalation, Russia has amassed 45,000 troops on its border. With […]
Good morning. Continuing my chess analogy, Mr. Obama and the West called “check” and Mr. Putin went into defense with Russia announcing it ended military exercises near Ukraine soothing investors nerves and sending equity prices materially higher. With the sabre rattling ending, at least for now, the Dow shot 186 points, 1.13%, ending at 16,554, […]
Good morning. Another lousy day for U.S. stocks. The Dow fell 46 points to 16,523, the S&P 500 dropped 5 to 1,934 and the Nasdaq lost 5 to 4,379 and are at their lowest levels since May. Now I’m sure many, if not most, of you have been monitoring the recent decline but let me […]
