Stock Market Overview: Futures are lower ahead of Monday’s open as investors digest last week’s rally and OPEC’s decision not to freeze production. Gary’s Thoughts: Futures down but not as bad as last night. A sit back and watch day. MS earnings and sales were terrible but guess what? They beat the number. The stock is up…
Because of late breaking news, we are going to take an audible. The fact is large-cap indices have gotten back near their old highs. The central banks have done a great job of juicing the markets again. Since the lows, we have told you that all the areas that were leading the market down for 18 months…
Stocks drifted lower but were relatively quiet on Friday as investors digested a strong weekly gain. Overnight, China said its economy grew by +6.7% in the first quarter of 2016, which came in just below China’s goal of 7%. Oil prices slid ahead of Sunday’s OPEC meeting in Doha about a possible output freeze. Gary’s Thoughts: Paint…
Stock Market Overview: Futures are relatively quiet ahead of Thursday’s open as investors add to Tuesday and Wednesday’s strong rally. Gary’s Thoughts: We repeat from last night: JP Morgan…earnings down 14%, revs down 2%…remember what we told you about everyone already knowing and reporting earnings will be bad. We must also add Steve Wynn just bought more stock…73,000…
Stocks rallied nicely on Wednesday helping the Dow Jones Industrial Average and benchmark S&P 500 jump above resistance of their latest range. Before the open, JP Morgan (JPM) reported earnings that beat greatly reduced estimates. Peabody Energy (BTU) filed for bankruptcy protection in the wake of a huge crash in coal prices. Overnight, China said exports beat…
Stocks ended higher on Tuesday, led by a big rally in a slew of energy stocks. Oil prices soared over 4% after news broke that OPEC was closer to freezing production. Gold, silver, oil and steel stocks have soared in recent weeks after pausing to digest the strong rally from the Feb low. Overnight, Italy created a…
Stock Market Overview: Futures are hugher ahead of Wednesday’s open as investors add to Tuesday’s strong rally. Oil prices surged to a four month high on Tuesday as the U.S. dollar is trading just above a 9-month low. Gary’s Thoughts: Strong Asia…strong Europe…gapping up here. Potential to move out of the 4 week range markets have been…
What about the other side about all the supposed bad earnings reports to come out? We felt it necessary to write to you about something we are reading about every day…and in numerous articles. That is all the talk about the bad earnings that will be reported in the weeks ahead for the past quarter. First off,…
Italian officials and bank executives have agreed to create a €5 billion ($5.7 billion) fund to help lenders that are in quite the trouble. Only one problem…there is about €360 billion of bad loans. There is a lot more where this came from in many other countries. Remember what we have told you, places like Greece were not…
Stocks opened higher but ended near their lows as seller showed up in the afternoon. Before the open, rumor spread that central banks and governments should begin buying bank stocks to boost the market. Meanwhile, the US dollar fell to a fresh 9-month low which sent gold, silver and several other commodities higher. In other news, Goldman Sachs…
