The bull train continued its ascent on Wall Street last week as profit taking pressures were short-lived amid the improving economic outlook. Worrisome GDP results did manage to spook some, however, market sentiment overall remains undeniably bullish as each minor pullback has welcomed eager buyers [see 3 Economic Charts Bears Love To Ignore].
This week will remain busy as earnings season continues on the home front although the lack of major economic data releases could rattle the ongoing streak of confidence. Trading activity will be bustling overseas as several key central bank rate decisions are slated to take place later in the week.
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Wall Street had a volatile session last week as investors digested a mixed back of earnings and economic data. In the Federal Reserve’s monetary policy announcement, the central bank indicated that it will continue purchasing $85 billion each month of long-term Treasury and mortgage-backed securities, stating that economic activity has “paused in recent months.” Confirming their sentiment, U.S. GDP came in [...]
Saying that 2013 is off to a good start would be a huge understatement. As policymakers passed a bill steering clear of the much-feared cliff, equity markets reacted with great euphoria; buying pressures at home ignited a stock market rally around the globe, serving as a great jolt to investors’ confidence at the start of [...]
Everyone is hoping for a last minute deal, however, given the running track record of stiff gridlock in Congress, it’s highly unlikely that an agreement will be reached. It won’t be terribly surprising to see policymakers push forth a plan which somehow “kicks the can down the road”, after all, we didn’t find ourselves standing over the [...]
Stocks kicked off the week with an early pop as Treasury Secretary Geithner’s prediction that Republicans would budge on the issue of higher tax rates for the wealthiest of Americans inspired confidence that the much-feared “fiscal cliff” could be avoided. Clouds of uncertainty continue to loom over the global manufacturing sector as mixed data took [...]
Last week started off with a rather slow “Cyber Monday,” with equities skimming along the flat line for the majority of the day. Following the pseudo-holiday, Wall Street shifted its attention once again to the Washington, as mixed commentary on the progress of the fiscal cliff talks dominated the markets. Senate Majority Leader Harry Reid first reported [...]
Markets kicked off the session on shaky footing as non-manufacturing ISM data just barely missed analyst expectations; this figure came in at 54.2, falling short of the forecasted 54.5 as well as the previous reading of 55.1. Regardless, major equity indexes managed to climb into green territory and end on a surprisingly positive note ahead of election day at [...]
After enduring a sour finish to a shortened trading week, investors’ stress level has only climbed higher over the weekend in anticipation of the major events that are slated to take place this week. At home, all eyes are on Obama and Romney ahead of voting, with many anticipating a volatile reaction on Wall Street [...]
Trading was cut short on Wall Street last week after the destructive path of Hurricane Sandy battered the East Coast and forced the New York Stock Exchange to close on Monday and Tuesday. While trading volumes were understandably low, investors welcomed a slew of positive economic reports, which put some much-needed momentum back into the markets. In the United States, [...]
Major equity indexes kicked off the week on a positive note as encouraging economic data on the homefront bolstered investors’ confidence. Buying pressures emerged at the open bell as ISM data topped analyst expectations; this month’s figure came in at 51.5 versus the previous reading of 49.7, marking a healthy increase in domestic manufacturing activity. Worse-than-expected [...]
Stock markets around the globe kicked off the week on a sour note as resurfacing worries over European debt drama paved the way into red territory. Profit-taking pressures were quick to emerge after Germany’s Bundesbank expressed concerns over the recently proposed European Central Bank initiative to buy back government bonds. Aside from FOMC minutes on Wednesday [...]