Market Update: Stock futures are quiet ahead of Friday’s open as the market digests the very strong bounce after the Brexit sell-off. Gary’s Thoughts: Bank of England announces cutting rates..continues the amazing turnaround. More on the weekend. Happy July 4th! Economic Data: Motor Vehicle Sales PMI Manufacturing Index 9:45 AM ET ISM Mfg Index 10:00 AM ET Construction…
By Gary Kaltbaum-June 29,2016 After scanning Monday night, we came to a simple conclusion about Mr. Market. We thought that markets were stretched and extended to the downside beyond the beyond and that the end-of-quarter window dressing (illegal) and the pre-holiday trading would get the market rallying back up some of the nasty drop. So…two big…
Market Update: Stock futures are up ahead of Wednesday’s open as the market is bouncing from oversold levels and investors digest Friday and Monday’s steep sell-off. Gary’s Thoughts: And another gap to the upside. Wasn’t the past few days fun? As we said, end of quarter, pre-holiday, massively stretched and oversold and a big dose…
Stocks rallied on Tuesday as the market bounces from deeply oversold levels. Remember stocks have fallen in each of the past 3 weeks and are now bouncing from oversold post brexit levels. Before the open, the government said, the U.S. economy grew at a 1.1% rate in the first quarter of 2016, beating the last…
By Gary Kaltbaum-June 28,2016 We double checked these numbers. They had better be right. After the recent smackdown of markets, we thought it important we sent this out again just to make a point of what all the easy money has brought or bought. We are optimists but we deal in facts first and foremost….
Stocks fell hard on Monday as the post Brexit selling continued from Friday. We have no idea how these rating agencies are still in business (after missing all of 2008) or why anyone listens to them, but stocks sold off after Standard & Poor’s lowered the United Kingdom’s sovereign credit rating from “AAA” to “AA.”…
Market Update: Stock futures are up nicely ahead of Tuesday’s open as the market bounced from oversold levels and investors digest Friday and Monday’s steep sell-off. Gary’s Thoughts: We wrote at the close yesterday: “Put buying spiked indicating heavy fear and bearishness. It is end of quarter as well as pre-holiday. And…the market is about…
If you want to know what happened last week on why most were on the wrong side of the vote, we think the following quote may just be appropo! “There is no such thing as public opinion. There is only published opinion.” – Winston Churchill The following would be our normal report based on normal…
Market Update: Futures are higher ahead of Thursday’s open as investors wait for the outcome of the much anticipated Brexit vote. The United Kingdom will vote in a referendum to decide whether Britain will remain in the European Union (the referendum is known as the “Brexit”). Polls will open at 2 a.m. EDT and close at…
Stocks fell on Wednesday as Yellen wrapped up her testimony on Capitol Hill and investors waited for Thursday’s Brexit vote. Stocks were mostly quiet with a little bounce in health care stocks early in the day on a favorable court ruling. But sellers showed up by the close and erased some of the gains by…
