Stocks rallied on Wednesday as Janet Yellen spent the day testifying on Capitol Hill. Economic news was mixed. The consumer price index (CPI) rose 0.6% in January, which was higher than the Street’s estimate for for 0.3%. Separately, Retail sales, rose 0.4% last month beating estimates for 0.1%. The Housing market index came in at…
Market Update: Stock futures are lower ahead of Thursday’s open as stocks continue to hit fresh record highs. Gary’s Thoughts: Futures flat…would love some rest here…NTES big gap to new highs of the day…. One important note: lots of yapping that Jack Dorsey bought $7 million of Twitter stock this week. Terrific but he also…
Once again, stocks rallied on Tuesday as Janet Yellen spent the day testifiying on Capitol Hill. For the first time in years, Yellen was slightly hawkish which should be expected now that all the “data” is bullish. Stocks are at record highs, the economy is growing, inflation is edging higher and the official unemployment rate…
Market Update: Stock futures are quiet ahead of Wednesday’s open as stocks continue to hit fresh record highs. Gary’s Thoughts: Futures down a wee bit as we write this. Not much else to report…interest rates backing up a little more here. Recent attempted break to the upside in bonds has been stopped dead in its…
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We do not have to be long-winded this weekend. Major indices moved out of a 9 week range. There has hardly been a down day of import since the election. Financials held the 50 day. Still need to move out again. That has not happened yet. Metals/mining look ready for another leg up as steel,…
Stocks rallied on Thursday after Trump promised a “big league” tax announcement. The market has been looking forward to hearing Trump’s tax plan because that is expected to be a big boost to the economy. Economic data was quiet. Weekly jobless claims slid by 12,000 to 234,000, which was lower than the Street’s estimate for 250,000. Separately,…
Stocks closed mixed on Wednesday as metals rallied. Investors are looking forward to Trump’s pro-growth policies such as cutting taxes, deregulation and government spending…but nothing happening just yet. Gary’s Thoughts: Short and succinct: The S&P 500 hasn’t had a 1% intraday move since Dec 14…the longest period of intraday nothingness in history. Major indices in…
Market Update: Stock futures are up just a wee bit before Thursday’s open as investors continue to digest a slew of earnings. Gary’s Thoughts: Earnings have been just ok…nothing special but market still depending on tax cuts and regulation cuts. So far…nothing doing. Indices in the 9th week of the tightest range we have seen…
Stocks ended slightly lower on Monday as investors digested the latest round of earnings. Energy stocks weighed on the market as crude oil fell. So far, over half of the S&P 500 companies have reported fourth-quarter results, and about two-thirds of them beat Wall Street expectations, according to Thomson Reuters. Furthermore, the long earnings recession…
