Friends It was quite a month, despite the late sell off this afternoon. After a summer of discontent, the market averages entered the fourth quarter bruised and battered, confused about just what the Federal Reserve was going to do with interest rates, and staring down the barrel of a...
Friends Stocks drifted into negative territory around the mid-point of the trading session, then spent the rest of the afternoon easing slightly lower. Today’s economic data was less than inspiring as the Chicago PMI was awful, showing contraction in November. The Dallas Fed Manufacturing Survey, while bad, was at...
Friends It appeared that that stock market had a bit of a hangover today after yesterday’s fireworks. The GDP number was weak as expected as the economy only grew by 1.5% in the third quarter (of course there will be revisions to that number). No, it was not a...
Friends Ok, I’m not buying it. Today’s FOMC statement stated that at this time the Fed wasn’t going to raise interest rates (that was no surprise), but they might be on board for lift off in December (yeah, sure). That’s right, today’s statement certainly seemed more “hawkish” than September’s,...
Friends Stocks once again, drifted in negative territory for most of the trading session as the continued drum beat of negative economic data, falling oil prices, and a deteriorating situation in the industrial sector overshadowed some good earnings from the big pharmaceutical companies. In addition, market participants, while not...
Friends Market participants seemed to be bracing themselves for a week full of economic data and earnings reports. Oh, and of course a two day Fed meeting which begins tomorrow. Stocks drifted mainly in negative territory for most of the trading session, but it never felt like the bears...
Friends Fueled by some tasty earnings reports form tech giants Microsoft, Amazon and Google (Alphabet), stocks added to yesterday’s surprising gains and pushed market averages towards positive territory for the year. The Dow still has some work to do, but the S&P finished the trading session showing gains for...
Friends Well, I didn’t see this one coming. Yes, we have had some intraday volatility and October was shaping up to be a pretty good month for the bulls, but today the bears seemed to run for the hills. Fueled by what seemed to be some massive short covering,...
Friends Other than the shares of a speculative pharmaceutical company, heavily owned by major hedge funds, cratering, the only real action came on the political front today as Vice President Joe Biden decided he’s not running for President, and hedge fund activist Carl Icahn decided to challenge Congress to...
Friends The earnings season is beginning to takes its toll on many individual issues (see IBM today, for instance), but the market averages continue to hang tough. That’s right, despite the somewhat “shaky” earnings reports we have seen so far, the market in general seems to hanging in there, at...
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