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...
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...
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...
Friends Led by the recently depressed energy, industrials, and materials sectors, stocks finally staged a bit of a rally after 6 straight down days. Whether it’s the beginning of a snap back or just a “dead cat bounce” remains to be seen, but at least for today, the bulls...
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...
Friends It was a difficult week for stocks, as earnings reports and investor expectations didn’t seem to match up. More earnings after the close yesterday and before the opening today led to more disappointment. Once again, there was an outlier (today was Amazon) but for the most part, the...
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...
Friends So far this week it appears expectations are not matching up with results, as once again a series of earnings “disappointments” sent stocks into negative territory for the day. Apple, Microsoft and Yahoo led the tech names that failed to wow, while Boeing seems to be the only...
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...
Friends Most of the attention overnight and into the opening of trading today dealt with the continued collapse in commodities led by a stunning drop in gold. That attention should turn to earnings as the week unfolds as more than 25% of the S&P report this week. As for...
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