Stocks finished well but nominally on Wednesday. Overnight, Moody’s Investors Service cut the outlook on China’s credit rating from stable to negative which bodes poorly for the global market. In the U.S. MBA Mortgage applications fell -4.8%, lower than the last reading of -4.3%. ADP, the country’s largest private payrolls company, said private employers added…
Stock Market Overview: Futures are down a little ahead of Wednesday’s open as investors digest Tuesday’s very strong rally. Gary’s Thoughts: On Feb. 11-12, we told you we thought another low was being put in for the market. Dang! It has been a darn good low. We must admit, we really started to worry that…
“Gary…markets reverse lower yesterday and just gap up today on bad economic numbers. What gives? What gives? The same as the past 7 years. Bad news=good news especially when central banks are in full mouthing off. Japan 10 year is now negative. IMF says we need worldwide stimulus! (Not kidding) Europe says more to come….
Stock Market Overview: Futures are higher ahead of Tuesday’s open. Today is Super Tuesday and the first trading day for the new month. Gary’s Thoughts: And the gap to reverse all the selling yesterday as more easy money talk pervades the air. Economic Data: Motor Vehicle Sales Redbook 8:55 AM ET PMI Manufacturing Index 9:45 AM ET ISM…
Stocks opened higher but closed lower on Monday after the latest round of tepid economic data was released. Over the weekend, the G-20 meeting disappointed investors while China announced more easy money. China’s stock market fell again which prompted China’s Central Bank to cut it’s reserve requirements in another attempt to stimulate their market. In the U.S,…
Stock Market Overview: Futures are slightly higher ahead of Monday’s open. Stocks rallied sharply over the past three weeks and are now trading near important areas of resistance (the 50 DMA line). Gary’s Thoughts: Caerful! Google the words “eye of the hurricane!” Economic Data: Chicago PMI 9:45 AM ET Pending Home Sales Index 10:00 AM ET Dallas Fed Mfg…
We are wearing a Dusty Rhodes tee shirt and black dockers on the red carpet tonight! We continue to be amazed by those on Wall Street that continue to say we need more stimulus. We continue to be amazed by those that say central banks have more they can do. Are these people just wishful…
Stocks opened higher but ended mixed on Friday after the government said GDP rose 1%, beating estimates for a 0.4% gain. It was a volatile week on Wall Street but after all was said and done, stocks rallied nicely and are now trading near stubborn resistance (declining 50 DMA lines). The G-20 meeting of central…
Stock Market Overview: Futures are up nicely ahead of Friday’s open and the GDP report. Stocks are higher after Wednesday’s very strong positive reversal. The next level of resistance to watch is Monday’s high and the 50 DMA line. Gary’s Thoughts: Gap to the upside as Dow/S&P back above 50 day as of yesterday’s close. Maximum…
Stocks rallied on Thursday as the market added to Wednesday’s very strong positive reversal. Overnight, the Shanghai composite plunged -6.4% and hit a three-week low. Rumors spread that China’s central bank injected another $52 billion into the money market to help stabilize markets. The ChiNext index which tracks small-cap Chinese stocks tanked -7.7% which clearly…
