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Europe: +44 (0) 207 198 1634 Good morning. After a very brief reprieve yesterday of not setting a new record, and that was because it closed unchanged, the S&P 500 once again set another record high, and again by the barest of margins closing up 3 points to 1,927. Not the most convincing movement, eh? And on light volume ahead of […]
Good morning. It’s as if the summer doldrums have set into stocks. In irons for you sailors. Yes the Dow and S&P 500 are closing at new highs but ever so barely; like by one point which happened Monday. Yesterday the S&P closed literally unchanged from Monday at 1,973. The Dow fell 21 points after […]
Good morning. You wouldn’t have known by the end results yesterday but it was a pretty crazy ride intraday. The day began with the Institute of Supply Management reported its index of national factory activity fell to 53.2 in May from 54.9 in April sending stocks falling. They then came out and said “Whoops, my […]
Good morning. On a quiet economic data day U.S. stocks closed out a 4th month in a row of gains as the S&P 500 inched up on Friday to close at another record high adding 4 points and closing at 1,924. The Dow also rose tacking on 18 points ending at 16,718. The Nasdaq lagged […]
Good morning. Bond yields are at multi-year lows indicating investors are fleeing to safety from riskier assets like stocks. Not. And there’s the conundrum. Normally, when bond yields hit lows it’s the result of investors flight to safety from risker assets such as stocks with the latter falling. It’s the old “risk on/risk off” relationship […]
Good morning. U.S. equities ended a choppy session on the down side yesterday with the S&P 500 off 2 points to 1,910, the Dow down 42 to 16,633 and the Nasdaq 12 lower to 4,225. I’ll take that kind of pull back after four consecutive up days. The S&P retreated from record levels but it […]
Good morning. What’s seems like eons ago to traders, equities closed nicely, not hugely but nicely, higher on Friday with the Dow up 63 to 16,606, the S&P 500 adding 8 to 1,901 and the Nasdaq tacking on 31 to 4,186. By the way, that was a record high for the S&P. The thinly traded […]
Good morning. Green arrows all around yesterday with the Dow up 10 to 16,543, the S&P 500 adding 5 to 1,892 and the Nasdaq closing 23 higher at 4,154. And good news. The Russell 2000 far outperforming the other 3 indexes with a 0.93% gain. Very importantly, the Russell will begin tomorrow’s affair within 5 […]
Good morning. Talk about volatility! After getting racked on Tuesday and losing 137 points, the Dow gained all that back and more yesterday gaining 159 points. Talk about volatility! All with a net gain of 22 points over the two days. That price actions seems to be the theme of the year. The S&P 500 […]
Good morning. Disappointing earnings from retailers Staples, Dicks’ Sporting Goods, Urban Outfitters and others couples with comments from Philadelphia Fed Reserve President Irving Plosser sent U.S. equities in a tail spin yesterday with the Dow falling a material 137 points, 0.8%, to 16,374, the S&P 500 losing 12, 0.65%, to 1,873 and the Nasdaq finishing […]
