Stocks opened higher but closed mixed on Friday after JPMorgan Chase (JPM), Wells Fargo (WFC) and Citigroup (C) all reported stronger-than-expected quarterly results. Sellers showed up shortly after the open and the market spent the rest of the day drifting lower. Janet Yellen gave a speech and said easy money is prudent whenever the economy gets…
Stocks opened sharply lower on Thursday after China said exports plunged 10% overnight. China is a major exporter so the fact that exports are down 10% reflects poorly on the health of the already fragile global economy. Right after the open, the Dow Jones Industrial Average & the S&P 500 briefly undercut important support (September’s low that…
Market Update: Stock futures are higher ahead of Friday’s as investors digest a volatile week and wait for three Fed heads, including Janet Yellen, to speak later today. Gary’s Thoughts: Failed breakout to upside and possibly a failed breakdown to the downside yesterday…which means major indices remain in range. We will know a lot more after…
Stocks were relatively quiet on Wednesday as investors digested Tuesday’s large sell-off and the minutes of the Fed’s latest meeting. The minutes showed the Fed remains split and wants to wait for more data but is ready to raise rates ‘relatively soon.’ In economic news, mortgage applications slid -6% last week as mortgage rates continued…
Market Update: Stock futures are lower ahead of Thursday’s open after China said exports plunged by 10% which bodes poorly for the global economy. Gary’s Thoughts: Futures smacked. Watch those support levels we gave out to you. Internals deteriorating. Not kidding. Fedheads again saying they are ready to hike…and I will dunk a basketball today. Economic…
Listen To Wednesday’s Investor’s Edge Radio Show 10/12/2016: Listen to today’s show by clicking here. https://archives.warpradio.com/btr/investorsedge/101218.mp3
Stocks rallied on Monday as investors wait for earnings season to begin in earnest. Oil prices surged more than 3% after Russia said it was open to curbing production to support oil prices. Russian President Vladimir Putin said Russia is open to join a proposed cap on oil output by OPEC members. Investors also digested…
Market Update: Stock futures are slightly lower ahead of Tuesday’s open as markets look past the 2nd presidential debate and look ahead to earnings season. Gary’s Thoughts: All’s quiet and no new videos…yet! Economic Calendar: NFIB Small Business Optimism Index 6:00 AM ET Redbook 8:55 AM ET Labor Market Conditions Index 10:00 AM ET 4-Week Bill Auction 11:30 AM ET…
By Gary Kaltbaum Most major indices have gone nowhere in the past 13 weeks but did you know: On 4/4/14, the NYSE was 10,669.43. Friday’s close 10,626.92. On 12/26/14, the DOW was 18,103.45. Friday’s close 18,240.49. On 3/7/14, the RUSSELL 2000 was 1212.82. Friday’s close 1236.56. On 7/24/15, the NASDAQ was 5231.94. Friday’s close 5292.41….
Stocks rallied on Wednesday as investors digested the latest round of economic data. Before the open, the composite Mortgage Application index rose 2.9% vs the prior reading of -0.7%. Mortgage rates fell to the lowest level since July and the average interest rate on a 30-year fixed rate conforming loan is 3.62%. The ADP Employment…
