Today was one of the best trading days in recent memory. The Dow rose 1.2%, hitting its highest levels since 2008, while the Nasdaq surged 1.6% to its highest level in 11 years; the S&P 500′s return of 1.5% wasn’t too shabby either. The big day was spurned by a better than expected unemployment report for January, which showed signs of an economic turnaround, though many analysts have warned that we need several more months like this in order to classify ourselves as recovering. On the commodity side of things, gold futures were slaughtered with the price of the precious metal dropping by 1.8% as investors piled into equities. But the losses for gold were oil’s gain, as crude jumped by 1.5% to close out this week [see also Three Reasons Why Gold Is Overvalued]. [click to continue…]
Stocks marched higher on Wednesday as investors rejoiced over encouraging fundamental economic data on all fronts. In the U.S., better-than-expected manufacturing and employment reports bolstered stocks higher; the Nasdaq led the way higher, gaining 1.22% on the day, while the Dow Jones Industrial Average lagged behind, inching higher by just 0.66%. Euphoria was further bolstered [...]
Equity markets got off to a choppy start as major indexes oscillated between minor gains and losses throughout the first trading day of the week. Investor sentiment turned for the worst on Monday as resurfacing Greek debt woes brought the limelight onto the debt burdened currency bloc once again. Stocks tipped to the downside as [...]
After an up-down performance across equity markets last week, investors will look to revive bullish momentum on Wall Street as earnings season continues full speed ahead. The spotlight will also turn to Fed Chair Ben Bernanke as he is set to testify before Congress on Thursday, an event that usually comes away with a detailed [...]
Stellar earnings from Apple and a pledge from the Fed to keep interest rates low until 2014 were enough to spark a broad-based rally on Wall Street today. Euphoria from Apple’s impressive quarterly results carried the tech sector higher and the Nasdaq led the way, clinching gains of 1.14% on the day. The Dow Jones [...]
Bullish momentum extended into Wednesday as investors rejoiced over encouraging earnings and economic data on the home front. The Nasdaq led the way higher, soaring 1.53% on the day, while the Dow Jones Industrial Average lagged behind, clinching a gain of 0.78%. Investors focused on better-than-expected quarterly results from Goldman Sachs, while Citigroup’s earnings miss [...]
Friday the 13th reared its unlucky head on markets today as equities took a bit hit on some major events. Despite all of the bad news that plagued markets, equities were able to resist a major sell-off that would be expected given the severity of today’s headlines. The Dow lost about 50 points while the [...]
The tug of war between domestic economic data releases and developments overseas in the debt burdened currency bloc continues. Stocks fluctuated between minor gains and losses on Thursday as investors digested worse-than-expected employment data at home, along with an encouraging debt auction on the other side of the Atlantic. The Nasdaq led the way higher, [...]
Earnings season is officially underway and U.S. stocks have started off the ceremonies on a fairly strong note. Equity indexes broadly climbed higher as investors rejoiced over better-than-expected earnings results from Alcoa; the Nasdaq led the way higher on the home front, clinching gains of 0.97%, while the Dow Jones Industrial Average lagged behind, gaining [...]
Stocks started off the week on a shaky foot, fluctuating between minor gains and losses in early trading, although optimism prevailed as the trading session drew to a close and indexes clinched gains. The Dow Jones Industrial Average posted a solid 0.26% gain on the day, while the Nasdaq lagged behind in green territory with [...]
Stocks opened up the day with surprising losses given the positive jobs report that hit in the wee hours of the morning. The Dow surrendered 56 points while the S&P 500 lost 0.3%. Both oil and gold finished out relatively flat while the Nasdaq was one of the few winners among major benchmarks. One of [...]
