Archive for category: Market Commentary

Energy Names Weigh On Market

Energy Names Weigh On Market

Friends Weighed down by energy names, stocks struggled to gain traction today – especially the Dow. Dow components Exxon and Chevron both reported today and the results weren’t pretty. To give you an idea of how far earnings have plunged for oil companies, Chevron earned $13 per share in...

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Modest GDP Print

Modest GDP Print

Friends Our first look at 2nd quarter GDP shows that the economy grew at 2.3%, which was a little shy of the 2.9% consensus among economists. Interestingly, the first quarter negative 0.2% reading was revised upward to a positive 0.6%. That puts both quarters in positive territory, which doesn’t...

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Fed Statement Pleasantly Vague

Fed Statement Pleasantly Vague

  Friends Stocks were comfortably higher before the Fed statement was released at 1:00, and moved even higher after the release. There was nothing really new in the FOMC statement, but it seemed the Fed was more constructive on the labor situation and the economy in general. There was...

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China Continues To Fuel Selloff

China Continues To Fuel Selloff

Friends Collapsing share prices in China helped continue the weakness in U. S. stocks, as markets opened lower this morning and spent the entire day in negative territory. In China, the government has done most everything they can to stop falling stock prices, including halting trading in many of...

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More Earnings Weakness

More Earnings Weakness

Friends Another day of earnings releases, and another difficult day for stocks. Yes, there are a few winners day to day, but for the most part traders seem to be firmly in “sell the news” mode. Today saw continued weakness in industrials and energy, and utilities had a dreadful...

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Earnings Disappointments

Earnings Disappointments

Friends We have several important earnings releases coming after the close today and before the opening bell tomorrow, but today’s damage in the stock market (particularly the Dow) came from a few of the Dow components disappointing earnings reports led by “big blue” IBM (13 straight quarters of declining...

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