Stocks opened higher on Wednesday but turned lower after the Fed meeting and press conference. The Fed held rates steady and turned more “dovish” as they reduced the likelihood of more rate hikes in the future. Economic data was mixed. The producer price index (PPI) rose by 0.4% in May, beating estimates for 0.3%. Industrial production fell to…
Market Update: Futures are higher ahead of Wednesday’s open as markets wait for the Fed this afternoon. On Tuesday, we saw the yield on the German 10-year bund drop into negative territory for the first time in history! That can’t be healthy in the long-run. Gary’s Thoughts: Today we get Mrs Bubble telling us blah blah blah…is,…
Stocks fell on Tuesday as the Fed began their two-day meeting and government bond yields continued to fall across the globe. Before Tuesday’s open, the German 10-year bund yield slid into negative territory for the first time in history. Would you lend money to Germany for 10 years and pay them? The world of negative interest rates…
Stocks fell on Monday, adding to Friday’s losses as the market continues pulling back after encountering (and failing) near stubborn resistance last week. The S&P 500 continues pulling back into its 50 day moving average. In tech news, Microsoft (MSFT) fell over 2% after the tech-giant said it would buy online networking giant LinkedIn (LNKD) for $26.2…
Market Update: Futures are lower ahead of Tuesday’s open as investors digest the recent decline on Wall Street. Later this week the Bank of Japan and the US Fed will conclude their latest meetings. Gary’s Take: We continue to watch this race to the bottom on interest rates. Keep in mind, it is no longer…
Stocks fell on Friday across the globe after global government bond yields fell to fresh record lows. The German 10-year bund yield plunged to a fresh record low of 0.011% Friday morning which was down considerably from Monday’s level near 0.070%. The Japanese 10-year yield hit a record negative low of minus 0.13% and several…
My city is stunned but it will come back and and will prevail. That is not a cliche’ but a fact. We saw it all today as many lined up to give blood, many have been there for families, great doctors and nurses tended to the wounded and the magnificent people in uniform were out…
Market Update: Stock futures are lower ahead of Monday’s open as investors continue to sell after Friday’s decline. Gary’s Thoughts: The big news is Microsoft buying Linkedin for cash. Well, not big news if you are short. Otherwise, futures down…gold and gold stocks up. I will be on Fox Business Network with Neil Cavuto at noon…
Stocks opened lower on Thursday as the US dollar soared. Overnight, stocks in Asia and Europe fell over 1% as sellers showed up after a nice two week rally. After Europe closed, buyers showed up and helped the major indices rally off their lows. Remember, we had a big run since May 19 and it…
Market Update: Stock futures are lower ahead of Friday’s open as the market continues to digest the recent and strong rally. Gary’s Thoughts: Every down open has been bought up. Remember what we said at the close yesterday. Our usual award winning technical report will be out on the weekend. Economic Data: Consumer Sentiment 10:00 AM…
