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Good morning. Yesterday U.S. equities closed out the day very well with a late day rally pushing the Dow up 76 points to 16,596, the S&P 500 up 14 to 1,939 and the Nasdaq a nice 32 points higher to 4,383. In the short term the market was way oversold (there’s actually technical indicators you […]
Good morning. Unfortunately on Friday U.S. equities took up where they left off on Thursday with the Dow 70 points to 16,493, the S&P 500 fell 5 points to 1,925 and the Nasdaq lost 17 to 4,352. Last week was the worst week for U.S. stocks in two years. For the week the Dow lost […]
Good morning. Ahhhhhhhhhh! Sirens everywhere. Blood flowing in the streets of Paris. Triage applied. Stocks got slammed hard yesterday with the Dow losing 317 points, 1.88%, ending at 16,563, the S&P 500 off 39, 2.00%, to 1,931 and the Nasdaq down 93, 2.09%, to $4,68. This was the Dow’s largest point drop since February 3rd. […]
Good morning. Yesterday equities were, to paraphrase Forrest Gump, “like a box of chocolates. You never know what you’re gonna get.” The Dow was down, the Nasdaq up and the S&P 500 flat. The former down 32 to 16,880 and the latter up 20 to 4,463. As I mentioned earlier this week, yesterday began the […]
Good morning. Equities fell modestly yesterday as investors wait for a big batch of economic data beginning today and culminating with Friday’s July labor report. Additionally, the FOMC ends its two day meeting today and we’ll see its post meeting communique this afternoon. The day started out well with the Conference Board reporting that the […]
Good morning. Yesterday equities ended pretty flat with M&A news offsetting data on the housing market. The Dow rose 22 points to 16,983, the S&P 500 gained 1 to 1,979 and the Nasdaq fell 5 to 4,445. The big merger news was Dollar Tree Inc.’s offer to buy rival Family Dollar Stores Inc. and Zilla’s […]
Good morning. Well I’m back from our annual company meeting in Stamford, CT and although it was a very busy week the weather was phenomenal! And I come back to 95 degrees and 90% humidity. As you regular readers know, it’s times like these, i.e. multiple days of not producing my Morning Energy Report, we […]
Good morning. I warned you last week of the probability of a lot of volatility. And we saw it Thursday and Friday. On Thursday the Dow got pummeled 161 points, 0.9%, its worst single day slide since April 10th, and then on Friday rebounded 123 points, 0.73%, to 17,100. The S&P 500 gained 20 points, […]
Good morning. Two years of uninterrupted gains in U.S. stocks. 3 in 5 financial professionals saying the market is on the verge of a bubble or already in one. Of a poll of 562 investors, analysts and traders surveyed by Bloomberg, 47% say the equity market is close to unsustainable levels and 14% say we’re […]
Good morning. U.S. equities started the day nicely in the green but could not hold their gains being dragged down by sharp declines in momentum stocks (internet, biotechs, social media) after the Federal Reserve suggested the valuations on those may be stretched. When the Fed dis’ a sector it’s always a buzz kill. Being the […]
