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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 […]
Good morning. It looks like the world came back from the World Cup in a state euphoria taking global equities higher beginning with the Asian markets, continuing with the European and following through here in the U.S. The Dow climbed a material 112 points, 0.7%, to 17,055, the S&P 500 added 10 points, 0.5%, to […]
Good morning. We ended with a small gain on Friday, Dow up 29 to 16,944, S&P 500 up 3 to 1,968 and Nasdaq up 19 to 4,415, but it wasn’t enough to prevent the market’s biggest weekly drop since April. For the week the Dow was down 0.4% and the S&P down 0.9%. Investors got […]
Good morning. I told you yesterday it was going to be an ugly day for stocks so you were warned. The Dow lost 71 points yesterday closing at 16,915, the S&P 500 fell 8 to 1,965 and the Nasdaq ended down 23 at 4,396. U.S. equities have closed lower 3 or the last 4 sessions. […]
Good morning. The minutes of the Fed’s June meeting were released yesterday and the key take away was that the Fed is confident the economy has rebounded from the rough winter and they expect growth to continue over the next few years. That being said, they also stated that damage from the recession would continue […]
