Friends The Fed did as expected and kept interest rates at virtual zero, and they indicated that they would continue the taper by reducing another $10 billion from the monthly bond buying program. On the economic data front, the GDP number for the first quarter was released this morning...
Friends Stocks enjoyed another roller coaster ride today as an early rally fueled by potential corporate mergers, was undermined by a breakdown in the NASDAQ (fueled by another difficult day for the high flying momentum stocks) which took stocks well into negative territory. But as the session wore on,...
Friends Tensions between Russia and Ukraine seemed to take a toll on the markets today, as traders did not feel comfortable buying into a weekend that could see some political uneasiness. On the economic front, the consumer confidence number was stronger than expected, but that report wasn’t enough to...
Friends We got earnings after the close yesterday from two tech giants (Apple and Facebook) and we’ll get two more today at the close (Microsoft and Amazon), but despite the good reports from yesterday’s players, stocks drifted aimlessly today (perhaps stymied by the Russia/Ukraine tensions). On the economic front,...
Friends Despite the onslaught of lukewarm earnings reports (and subsequent muted guidance by managements in company conference calls), stocks refused to give much ground in today’s trading session. On the economic front the PMI Manufacturing Index came in a little less than expected, and New Home Sales were somewhat...
Friends The bulls were able to keep the party rolling as earnings season continues. The story seems to be that despite somewhat lackluster results from many of the companies that have already reported, expectations had been ratcheted down enough so that any disappointment is somewhat muted. Stocks spent much...
Friends Things got off to a somewhat quiet start for the week as stocks spent the day in positive territory, but with no real conviction. On the economic front Leading Indicators came in a little better than expected pointing to possible accelerating growth in the next six months. Stocks...
Friends Well, well, after last week’s “correction” stocks enjoyed their best week of the year. Other than IBM acting like an anchor around the Dow’s neck and Google pressuring the NASDAQ, stocks were in positive territory for a good portion of the trading session. By the close, the Dow...
Friends Stocks rallied early, and were able to hold onto the gains for the entire trading session. With one day left in the shortened trading week, the bulls have sure turned the tide after last week’s mess. Stocks had already been comfortably in positive territory, but catapulted higher during...
Friends Stocks seesawed back and forth today as the economic news was uninspiring (the CPI was a little hotter than expected and the Empire State Manufacturing Index weaker than expected) and the Russia/Ukraine news was somewhat disturbing. Nevertheless after an up morning, followed by a Ukraine inspired fall in...
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