Stocks rallied on Wednesday as the strong sector rotation we have outlined for you in recent weeks continued. On Wednesday, we saw big money flow into commodities, mainly steel, oil and gold stocks. Other sectors of the market also did well such as materials, transports, and industrials. Crude oil jumped above $51/barrel and gold prices…
Market Update: Stock futures are lower ahead of Thursday’s open as the market pauses to digest the recent and strong rally. Gary’s Thoughts: Pullbacks should be controlled and rotational at this time. When you have a chance, get reading about rates around the globe. Yellen and central banks say there is no bubble. No bubble? $10…
The S&P 500 traded at the highest level since July before it backed off and closed in the middle/to lower half of its daily range. Buyers showed up and sent oil, transportation and housing stocks higher helping them break above near term areas of resistance. Economic data was relatively light. First quarter productivity (which measures hourly output…
Market Update: Stock futures are higher ahead of Wednesday’s open as the market continues to rally. On Tuesday, the S&P 500 hit the highest level since July and is now above key resistance at 2,111. Gary’s Thoughts: The dollar smacked again this morning…oil, gold commodities again on the move. Here is what we wrote after…
Market Update: Stock futures are higher ahead of Tuesday’s open after Yellen made it clear that Friday’s dismal jobs report raised uncertainty regarding the economy. Gary’s Thoughts: Marginally up early. Paying attention to energy here off of yesterday’s move. Would love some sitting/pulling back. Economic Data: Productivity and costs Gallup US ECI Redbook Consumer Credit…
Stocks rallied nicely on Monday helping the Dow Jones Industrial Average and benchmark S&P 500 jump above near term areas of resistance and hit new highs for the year. Janet Yellen spoke on Monday and said Friday’s tepid Jobs Report created economic uncertainty which reduced the chance of a June rate hike. Oil stocks were…
Since we had some weather-related travel hell, just a few short notes on last week. Duh! The Fed will not be raising rates. Duh! The economy is not accelerating! As we have said for ages, the economy is blah. If not for 0% rates forever, negative rates, the printing of trillions and the buying up…
Stocks opened lower and closed higher on Thursday as investors digested a slew of data. Overnight, Japan’s stock market fell over 2% which put pressure on global equities. Before the open, The European Central Bank (ECB) President Mario Draghi said inflation rates will likely stay low or negative in the near future as global growth…
Market Update: Stock futures are quiet ahead of Friday’s open as the market waits for the always fun (and fake) jobs report. Gary’s Thoughts: Blah fake job’s number. Another half million people leave workforce…thus unemployment number at 4.7%. Tired of talking Fed. Just remember, for ever, bad news is good news for markets as central banks…
Market Update: Stock futures are a little lower ahead of Thursday’s open as the market waits for today’s ADP report then Friday’s always fun (and fake) jobs report. Gary’s Thoughts: Paint drying open…but pay attention here. Something going to give soon. We feel it. Economic Data: Chain Store Sales Challenger Job-Cut Report 7:30 AM ET ADP…
