U.S. markets finished the day flat as the Dow extended its winning streak to eight sessions and the S&P 500 finished down slightly. The Dow was boosted by strength out of Boeing and DuPont, both of which saw gains after the Federal Reserve Bank of Philadelphia said that manufacturing and business activity rose in the mid-Atlantic region. Also in focus were firms in the health care sector which trended higher in anticipation of a vote on a $940 billion health care package overall this weekend. [click to continue…]
After starting the day strong, most equity markets slumped in afternoon trading before finishing the day with a surge. This stretch of positive returns, the sixth in a row for the Dow, came after continued jubilation regarding Federal Reserve monetary policies. “There’s no question the Fed being easy continues to feed this. Easy money is creating massive misallocations everywhere, and that party can continue. As long as you have Ben the bartender manning the tap, anything is possible,” said Peter Boockvar. [click to continue…]
Equity markets finished the day slightly ahead after the Fed decided to hold rates at record lows at its meeting earlier today. The Fed signaled improving conditions with regards to business spending but remained cautious regarding unemployment levels and consumer spending. “The Fed is holding out for clearer signs of improvements in the labor market,” [...]
A week full of highly-anticipated events got off to a sluggish start Monday, as most major benchmarks finished little changed in light trading. Perhaps the biggest news of the day came from Moody’s, which released a report noting that the margin of error for the U.S. losing its AAA rating has “substantially diminished.” Elsewhere, President [...]
Most major indexes finished the week rangebound as markets digested conflicting data. Although retail sales increased unexpectedly, weak consumer sentiment and unchanged inventories helped to drag the markets lower and balance out the hopes of renewed consumer spending. “There is a lack of conviction in the markets, everyone is kind of in wait-and-see mode.” said [...]
A barrage of economic data and reports of some major M&A activity gave markets a boost on Thursday, although volume was relatively light for most securities. The number of idled U.S. workers applying for jobless benefits fell by 6,000 last week, and Devon Energy reported that British oil giant BP had agreed to buy its [...]
Major indexes barely stayed in the green on Wednesday, as conflicting economic reports kept the market in a seesaw pattern for most of the day. The S&P 500 finished ahead by five points while oil closed just under $82/ bbl. The Commerce Department said that wholesale inventories fell 0.2% in January after dropping 1% in [...]
On the one year anniversary of the market bottom, most major markets finished the day flat. Financial stocks were mostly higher after rumors surfaced out of D.C. that the government would ban short-sales on companies in which the government owned a stake. This rumor helped to send financial firms such as AIG and Fannie Mae [...]
Following Friday’s jobs report, which came at the end of a week full of widely-anticipated data releases, trading got off to a slow start Monday, as most benchmarks finished nearly unchanged on the day. Overseas, Greek Prime Minister called on U.S. officials to investigate speculation in currency markets, alleging that current borrowing costs threatened to [...]
The tech-heavy Nasdaq hit its highest close in 18 months on Friday, as stocks were buoyed by a jobs report that kept unemployment flat at 9.6%. Thanks to the jobs report and renewed confidence in an economic recovery, the price of oil soared, finishing near $81.50 a barrel, within striking distance of its 2010 high. [...]
Thursday saw the Dow Jones Industrial Average climb back into the black for 2010, as a recent rally has now erased February’s steep losses. A series of analyst upgrades gave markets a boost, although health care stocks continued to show weakness. Also on Thursday, retailers reported strong improvements in February sales. A week full of [...]
Once again, investors around the world turned their attention to Greece on Wednesday, as the heavily indebted nation unveiled a new round of budget cuts and tax increases to gain control over its rapidly-swelling budget deficit. Measures included a 2% bump to the VAT, additional taxes on tobacco and fuel, a freeze on civil servant [...]
