Stock Market Commentary: Stocks fell hard after the Fed concluded its 2-day meeting on Wednesday. The Fed held rates steady but left the door open for a possible rate hike in the future. The market was looking for a more dovish stance whereby the Fed would signal that they are not going to raise rates…
Stock Market Overview: Stock futures are down on Wednesday as the market digest’s Tuesday strong rally and waits for the Fed’s meeting later today. Gary has nailed this market for you perfectly. Gary’s Thoughts: Apple and Boeing will not help this morning but we still believe last Wednesday’s lows holds sway. Just keep in mind…
Stock Market Commentary: Stocks fell on Monday as the market paused to digest last week’s big oversold bounce. Oil prices fell again which dragged a slew of energy stocks lower. Oil plunged more than 7% which is not an insignificant sum. Economic data was thin on Monday. The Dallas Fed January manufacturing index fell to…
Stock Market Overview: Stock futures are down on flattish as we write this but have been all over the map throughout the night. This comes after Wednesday’s late day reversal to the upside. Overnight, China injected $16.7B to prop up markets. That was their largest injection in three years and the second one this month. Even…
Stock Market Commentary: At one point, the Dow fell 565 points on Wednesday before reversing around noon and rallying sharply into the close. Oil prices fell to $27/barrel, plunged over 6% and hit a fresh multi-decade low but also bounced and closed off their lows. Japan’s stock market officially entered bear market territory (decline >20% from…
Stock Market Overview: Stock futures are down sharply before Wednesday’s open as investors continue to unload their positions. Oil prices fell overnight to a new multi-year low and continue to implode. This relentless selling further signals what Gary has been telling you for months: markets across the globe are forecasting a recession. Gary’s Thoughts: Soon the rest…
Stock Market Commentary: Stocks ended mixed after trading between positive and negative territory on Tuesday as the S&P 500 retested Aug’s low. Oil negatively reversed and closed down on the day which is not ideal. Overnight, China said its GDP grew by 6.9% for 2015 which was the slowest pace since 1990! Additionally, China said Q4 2015…
Stock Market Overview: U.S. stocks were closed on Monday in observance of the MLK holiday. Stock futures and oil are up nicely before Tuesday’s open. Overnight The People’s Bank of China set their currency (yuan) parity rate against the U.S. dollar to 6.5590. Since March 17, 2014, the yuan has been “allowed” to move 2% either…
Stock Market Commentary: Stocks fell hard on Friday as oil prices plunged nearly 5%. Stocks tried to bounce on Thursday but the fact that they can’t bounce from deeply oversold levels shows you how weak the market is right now. Stocks will be closed on Monday for the holiday but markets overseas will be open….
Stock Market Overview: U.S. stock futures are down big on Friday giving back most Thursday’s strong upside reversal. Once again oil prices are tumbling and global markets are selling off. We have mentioned countless times that the market was deeply oversold and way over due to bounce. The inability to bounce speaks volumes to how…
