Friends It was a very quiet day in the markets today as stocks had a slight downward bias, but volume was anemic. On the economic front, manufacturing activity was weak (Chicago PMI was 56.2 vs. expectations of 60), as was personal spending. Personal income on the other hand was...
Friends Considering we had a somewhat disappointing GDP number this morning coupled with a downgrade of Spanish debt by Standard and Poor’s, one would have expected a downward bias to stocks as the trading day began. On the contrary, instead, stocks posted gains for the 4th day in a...
Friends Who needs Europe? After a weak overnight session overseas, and our first real earnings disappointments (not to mention another uninspired weekly jobless claims number), stocks were set to have a difficult trading session. Exxon Mobil, Dow Chemical, UPS and a couple of others came up a little shy...
Friends After yesterday afternoon’s blowout earnings report from Apple, stocks were primed to have a good day today as trading got underway. After an early rise, stocks drifted until the Fed report came out at 11:30, our time, and then the 1:15 press conference with Dr. Bernanke. The takeaway...
Friends It was a difficult day for stocks today as traders were assaulted with bad news from every angle. Europe is just a mess, with politics changing almost daily over there, as unhappy citizens cast their displeasure with the medicine that is austerity. Germany, the only hope, is showing...
Friends The markets spent all day worrying about what is going to happen in tomorrow’s Spanish bond auction. That coupled with weakness in IBM, after what seemed to be a rather good earnings report (the stock had run up before the report, so a little “sell the news” is...
Friends Wow! After a somewhat uneventful slow grind upward in the first quarter, we seem to be back to the days of volatility once again these first few weeks of the second quarter. The last couple of weeks were decisively negative once the dust settled on them, but so...
Friends Today was a tale of two markets. On the one hand, the Dow Jones Industrial Average enjoyed a very nice day with the average dancing along with a triple digit gain throughout most of the day. On the other hand, NASDAQ was down big all day long, led...
Friends This week reminded me a little bit of 2011. Volatility seems to be coming back to the market as we move into the second quarter. Overnight, the Chinese GDP number came in just a little shy of expectations, but Asian stocks rallied anyway. Those rallies fizzled a bit...
Friends Buoyed by hopes that this evening’s GDP and Industrial Production numbers out of China will show improved growth and positive earnings reports from the few companies that have reported to date, stocks enjoyed a second day in a row of juicy gains. For the day the Dow Jones...
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