Friends The bulls put a cherry on top of this week’s, and for that matter the last five week’s stock rally as share prices pushed higher right from the beginning of today’s trading session. The Fed’s dovish statement this week led to a weakening dollar, which in turn led...
Friends The bulls stepped up in today’s trading session, buoyed by the dovish Fed statement from yesterday, a weak dollar and surging oil prices, and went on a buying spree. Minus a weak health care sector, stocks were up across the board with industrials, materials and energy leading the...
Friends As expected, the Fed did not raise interest rates today. Also, as expected, the Fed dialed down their expectations for rate hikes in 2016. Going into the year the Fed had expressed the notion that four rate hikes were likely for calendar year 2016, but today via the...
Friends Stocks sold off on the opening of trading, but the bulls regrouped and by midday had stocks trading near the breakeven level. For the rest of the trading session traders seemed to be biding time before tomorrow’s conclusion of the FOMC meeting. On the economic front a downward...
Friends With the two day Fed meeting scheduled to begin tomorrow, markets seemed to be in a bit of a holding pattern, as neither the bulls nor the bears seemed interested in making anything more than a token gesture towards today’s trading session. Stocks spent the day waffling in...
Friends ECB President Draghi threw everything but the kitchen sink at the markets yesterday, but the reaction was very muted. Perhaps market participants had a change of heart. Long Live Central Bank Intervention. Indeed, after yesterday’s collective yawn, the bulls decided to go on the offensive. Following Europe’s lead,...
Friends ECB President Mario Draghi came armed and ready to today’s press conference, announcing further rate cuts and expanding QE, which will now include the purchase of corporate debt as well as sovereign debt. Like Pavlov’s dog, markets responded accordingly with both European and U. S. stocks rallying in...
Friends The bulls had the upper hand for most of the trading session today, but seemed to run out of gas in the last hour of trading. A nice rally in oil helped spark a rise in energy shares, which accounted for much of the rise in the market...
Friends Maybe the best way to describe today’s trading was sloppy. After an initial drop, stocks rallied to squeak into positive territory by midsession. But as the afternoon wore on, share prices once again slipped into negative territory and lost ground into the close. It’s not a real surprise,...
Friends Today was a very peculiar day for stocks. After early softness, stocks rallied and then gave back that rally, at least in the S&P. But there were some strange divergences as many popular, momentum type stocks found themselves under some serious selling pressure, while industrials and energy shares...
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