Archive for category: Market Commentary

The Draghi Rally

The Draghi Rally

Friends ECB President Mario Draghi let the markets know that he is prepared to do whatever it takes to preserve the euro. Ok then. When his comments hit the wires early this morning before trading began, the futures turned from negative to positive in an instant, and we were...

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Stocks Down for 3rd Day

Stocks Down for 3rd Day

Friends Stocks suffered losses for the third day in a row, as bond yields in Spain and Italy spike and domestic economic conditions continue to slow. Today’s report from the Richmond Fed was much worse than expected, showing contraction with a minus 17 number (expectations were for a flat...

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Another Down Monday

Another Down Monday

Friends Fueled by overnight weakness in Europe led by a deteriorating situation in Spain, stocks were poised to drop right from the start of trading. Yes, after somewhat fading into the background most of last week, the European mess was front and center once again. And once again, stocks...

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Giving Some Back

Giving Some Back

Friends At the end of this very busy week for earnings, the takeaways are- 1) Companies are struggling to provide revenue growth 2) Companies are still delivering bottom line results, though not at the pace they have been for the past several quarters and 3) Stocks of companies that...

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Reduced Expectations

Reduced Expectations

Friends We got a trio of unflattering domestic economic reports this morning including a weak Leading Economic Indicators number. The Philly Fed number also indicated a drop in factory production, and the weekly initial jobless claims number went the wrong direction, heading back towards the 400,000 number. Add to...

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Dr. Bernanke Speaks

Dr. Bernanke Speaks

Friends Today’s market movement was influenced by earnings reports, economic reports and Dr. Bernanke’s testimony in front of the Senate Banking Committee. On the earnings front, Johnson and Johnson disappointed slightly, while Coca Cola delivered another stellar quarter. On the economic front, the CPI number was about as expected,...

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