Thursday was another quiet day on Wall Street as the market continued to consolidate the recent and strong post brexit rally and waited for Yellen’s speech and the latest reading on GDP on Friday. Economic data topped estimates, with initial jobless claims falling for a third consecutive week to 261,000. Separately, durable goods orders jumped…
Market Update: Stock futures are quiet ahead of Friday’s open as the market waits for GDP and Yellen’s speech from Jackson Hole, WY. Gary’s Thoughts: 10 am Yellen speech…blah blah blah! We’ll have big report for you on Sunday. And do not forget…WE ARE NOW INTO END OF MONTH WINDOW DRESSING…even though it is illegal to…
Source: http://www.wsj.com/articles/obama-administration-seeks-to-ease-concerns-over-health-insurance-spikes-1472061666
Yesterday on Fox Business, we noted that Mylan kept raising prices on the Epipen because they could get away with it. There was no one else in the market and anyone who tried to compete, was slowed down by an ineffecient and ineffective approval system as well as politics. They have now been found out…
Stocks slid on Wednesday, dragged lower by a steep decline in Gold and Silver. Gold and Silver stocks have been one of the strongest areas in the market all year but are now in pullback mode as they recently placed a near term top and broke below their respective 50 DMA lines on Wednesday. Economic…
Market Update: Stock futures are lower ahead of Thursday’s open as the market pulls back ahead of GDP and Yellen’s speech on Friday. Gary’s Thoughts: A little more downside off of yesterday. Tomorrow, Yellen speaks. Hope she gets laryngitis. Economic Data: Durable Goods Orders 8:30 AM ET Jobless Claims 8:30 AM ET Bloomberg Consumer Comfort Index 9:45 AM ET EIA…
Source: http://www.wsj.com/articles/to-settle-sec-case-government-pays-itself-100-000-1471991173
Stocks rallied on Tuesday as investors digested the latest round of mixed economic and earnings data. Shares of Best Buy Co. Inc. ($BBY) gapped up after the retail giant reported earnings. The company said online sales helped last quarter and they are going to do more to win market share back from Amazon.com (AMZN). On the…
Market Update: Stock futures are quiet ahead of Wednesday’s open as the market continues trading in a relatively tight trading range. Gary’s Thoughts: Quiet is the word. Not much to add. Economic Data: MBA Mortgage Applications 7:00 AM ET FHFA House Price Index 9:00 AM ET Existing Home Sales 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET…
Stocks were quiet on Monday as oil prices fell by over -3%. In recent sessions, oil flirted with resistance near $50/barrel and is now pulling back a bit. In M&A news, Pfizer ($PFE) said it will acquire Medivation ($MDVN) for $81.50/share, or about $14 billion in cash. Medivation has one big cancer drug that attracted Pfizer to…
