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Europe: +44 (0) 207 198 1634 Good morning. Maybe we shouldn’t have taken a holiday. On Monday equities fell, the Dow down 44, and then again yesterday stocks took a knackering with the Dow falling 118 points to 16,907, the S&P 500 off 14 to 1,964 and the Nasdaq just got bludgeoned losing 60 points, 1.35% (that’s a lot for a […]
Good morning. After pushing to record highs last week U.S. equities retreated yesterday. The Dow, which closed for the first time last Thursday over the psychologically important 17,000 number (it has no meaning looking at the charts technically), fell 44 points to 17,024, the S&P 500 lost 8 to 1,978 and the Nasdaq fell 34 […]
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 […]
