Market swiftly moved south on the day as hiring slowed for the month of April, despite the dip in unemployment. What many realized was that the drop to 8.1% was not necessarily because of new hires, but because an increasing number of people have exited the labor force, as finding a job has been too difficult a task for many. All in all, the Dow shaved off about 170 points while the S&P 500 lost 1.6%, making today one of the worst trading sessions of 2012. Likewise, the Nasdaq took a big hit as it shrank by nearly 2.3% [see also 5 Simple ETF Trading Tips]. [click to continue…]
Today saw a conflicting swirl of data that ultimately brought markets down. April retail results came in lower than expected as many blamed the cooler than average temperatures for warding off shoppers and consumers willing to open their wallets. The disappointing results came from Target, Costco, and Macy’s among several other names. General Motors, though [...]
Equity markets opened in red territory on Wednesday morning as investors expressed their concerns over the latest economic data releases, which included ADP employment and factory orders data. On the home front, the S&P 500 lagged behind, shedding 0.25% on the day, while the Nasdaq pulled ahead, managing to clinch a 0.31% gain during an [...]
Equity markets rallied on Tuesday as investors rejoiced over encouraging manufacturing data on the home front. Major indexes started off the day with a bang and climbed higher throughout the session, only to give into a wave of profit-taking in the final hour of trading before the closing bell. On Wall Street, the S&P 500 [...]
Friday’s trading session saw stock uphold their bullish momentum despite a rather substantial miss in GDP. U.S. GDP for the first quarter of the year came in at 2.2, down from the anticipated 2.5. While this news would typically hammer markets, positive earnings kept the bull run alive and overshadowed this miss. The Dow closed [...]
Wall Street enjoyed its third consecutive win despite a mixed bag of earnings on the day. The most notable report from today was from Exxon Mobil (XOM) who’s profit was 11% off of original targets, prompting the stock to dip during the day. Traders also cheered on better-than-expected housing data, a rare win considering the [...]
Equity markets broadly charged higher on Wednesday following the latest FOMC announcement coupled with stellar earnings from Apple. On Wall Street, the Nasdaq took the lead, gaining an impressive 2.30% on the day, while the Dow Jones Industrial Average lagged behind, inching higher by 0.69% as the trading session drew to a close. As many [...]
Equity markets drifted sideways for the most part on Tuesday, managing to post a positive performance as the trading session drew to a close, despite weaker-than-expected economic data. On Wall Street, the Dow Jones Industrial Average took the lead, gaining 0.58% on the day, while Apple’s lackluster pre-earnings performance dragged the Nasdaq down 0.30% on [...]
After a bumpy session last week, stocks on Wall Street stumled out of the gates on Monday morning as more of the same uncertainty weighted on investors’ confidence. Earnings reports at home remain a mixed bag, making way for looming Euro zone debt woes, and ultimately paving the way for profit taking. On the home [...]
Markets were able to finish the week out with mild gains as strong earnings from General Electric and McDonald’s gave a much needed push to equities. The Dow jumped by 65 points while the S&P 500 gained a meager 0.1% as a late day sell-off put early gains in check. All in all, this was [...]
Today was a very frustrating session, as stocks swung violently back and forth before finally selling off to close out the day. The Dow surrendered 68 points while the S&P 500 dipped by approximately 0.6%. Today’s confusing trading came as some big banks had strong earnings while housing data was simultaneously weak; eventually the bears [...]
