Friends Oil prices surged today after OPEC agreed to cut oil production by 1.2 million barrels per day (the agreement was announced but is evidently not official yet), which would represent the first production cut by OPEC in eight years. This news caused energy shares to soar and they...
Friends A drop in oil prices helped keep a lid on any attempt to rally stocks, as energy shares weighed heavily on the market averages. On the other hand, as expected the second look at 3rd quarter GDP showed continued improvement as the number came in at 3.2% beating...
Friends As we near the end of November, and with a busy week ahead on the economic front, stocks seemed determined to give back the gains achieved in Friday’s abbreviated half day session, as the trading week begins. The market averages opened slightly lower and basically remained slightly lower...
Friends As expected, trading was quiet, volatility was pretty much non-existent, and for the most part traders just wanted to get home to get the Thanksgiving festivities started. There was one interesting economic data point as the durable goods number came in much stronger than expected. For the most...
Friends Stocks enjoyed a nice rally at the opening of trading today led by a nice bounce in the price of oil. After that it appeared that traders went home. Indeed, after the initial surge, volatility was non-existent and stocks simply drifted near the highs of the day. It...
Friends Traders have seemed to simply run out of gas this week. After last week’s fireworks, this week’s trading was on cruise control. The action has been in the currency markets and the bond market. The dollar has shown tremendous strength, while bonds have seen constant selling. It is...
Friends Market participants had several economic reports to chew on this morning before the opening bell. The CPI number came in hotter than expected (the Fed should like that), Housing Starts surged in October, and the weekly initial jobless claims dropped more than expected (the lowest in many years)....
Friends The stock market seemed to run out of gas today, except for a few tech names and some retailers. Target had better than expected earnings today, but Lowes had a disappointing quarter. Walmart will release its earnings report tomorrow, so we’ll see how the largest brick and mortar...
Friends The Bears keep trying to zap the enthusiasm from this “Trump” rally, but the Bulls continue to buy pullbacks and drive many stocks higher. It is still the case that there are winners and losers in this environment, as it appears that a rotation from previously thought to...
Friends Stocks seesawed between positive and negative territory during today’s trading session, as traders continue to grasp just what the Trump victory means for different sectors and who will be the winners and who will be the losers. Bonds and gold continued to sell off providing somewhat of a...
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