Market Update: Stock futures are edging higher ahead of Wednesday’s open as the market continues its strong post Brexit rally. Gary’s Thoughts: Earnings in droves soon. Pay attention. Yesterday, lagging areas got the good bid. When the floor picks up…everything picks up. Economic Data: MBA Mortgage Applications 7:00 AM ET Import and Export Prices 8:30 AM ETRobert…
Stocks raced higher as earnings season officially began and investors embraced more stimulus from global central banks. The Bank of England and the Bank of Canada are set to meet this week. Japan already said more easy money will be coming and that helped stocks break out of range and hit new record highs. After Monday’s…
The S&P 500 broke out of its very long trading range and hit a fresh record high on Monday. Overnight, Japan’s ruling party won their election by a large margin and announced more stimulus. That sparked a huge rally in Japan’s stock market (up almost 4%) and that lead to more gains across the globe. Current…
Market Update: Stock futures are higher ahead of Tuesday’s open as the recent and strong post Brexit rally continues. Gary’s Thoughts: And away we go. Don’t argue. Foreign markets, which had been horrible, are quickly popping back up some. Economic Data: NFIB Small Business Optimism Index 6:00 AM ET James Bullard Speaks 8:45 AM ET Redbook 8:55 AM…
Market Update: Stock futures are higher ahead of Monday’s open as investors add to the post Brexit rally. Gary’s Thoughts: Economic Data: Esther George Speaks 10:00 AM ET Labor Market Conditions Index 10:00 AM ET Loretta J. Mester Speaks 9:30 PM ET Highlights: Obama Urges a ‘Thoughtful’ Tone Amid Protests in the U.S. Gary’s Thoughts: With all due respect, this…
Stocks rallied on Friday after the government reported a stronger than expected jobs report. The major indices are now flirting with fresh record highs. Gary’s Thoughts: DOW/S&P poised to move out of range. This would be a looooong base breakout….in spite!
Market Update: Stock futures are slightly higher ahead of Friday’s open as investors wait for the always fun (and fake) jobs report. Gary’s Thoughts: The fake job’s number was much better than expected after being much owrse than expected last month. Futures have jacked to the upside as we write this. We think markets wanted to edge up…
Stocks opened higher but closed mixed to lower on Thursday as investors waited for Friday’s always fun jobs report. Before the open, ADP, the country’s largest private payrolls company, said U.S. employers added 172,000 new jobs in June, beating estimates for 150,000. A separate report showed that weekly jobless claims slid by 16,000 to 254,000 last…
Stocks opened lower but turned higher after the bulls showed up and defended the 50 DMA line for the major indices. The ISM non-manufacturing PMI rose to 56.5 last month versus 52.9 in May. Markit’s U.S. services PMI edged higher to 51.4 in June, up fractionally from 51.3 in May. At 2pm EST, the Fed released…
Market Update: Stock futures are quiet ahead of Thursday’s open as global markets digest this week’s action. The jobs report will be released before Friday’s open and then we enter earnings season. Gary’s Thoughts: Flat as flat open can be…but we are back to a couple of indices nearer to highs and we must say, the…
