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Europe: +44 (0) 207 198 1634 Good morning. It’s good to be back in the saddle. It’s times like these when I get to reflect on slightly longer time frames in the market. So what’s transpired over the last 13 calendar days and 9 trading sessions? On June 9th the Dow closed at 16,943 and the S&P 500 closed at […]
Good morning. Well it happened again. For the 7th time in 8 sessions the S&P 500 set a record high gaining 2 points closing at 1,951. The records haven’t been set in leaps but by a very slow grind as it scales the Wall of Worry. Not to be left behind the Dow also closed […]
Good morning. It was a very good day for your 401K on Friday. On the heels of a positive Labor Department May payrolls report all the major indexes rose once again. While the report didn’t point to spectacular growth the main thing is that the world’s biggest economy is moving in the right direction and […]
Good morning. You can tip your Bowler to the Europeans for the S&P 500 setting another record high yesterday, which by the way was the 7th time in 8 sessions. Yesterday the ECB cut interest rates to record lows and it pledge to do more if needed to fight off the risk of deflation pushing […]
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 […]
