Stocks slid on Wednesday, dragged lower by a steep decline in Gold and Silver. Gold and Silver stocks have been one of the strongest areas in the market all year but are now in pullback mode as they recently placed a near term top and broke below their respective 50 DMA lines on Wednesday. Economic…
Market Update: Stock futures are lower ahead of Thursday’s open as the market pulls back ahead of GDP and Yellen’s speech on Friday. Gary’s Thoughts: A little more downside off of yesterday. Tomorrow, Yellen speaks. Hope she gets laryngitis. Economic Data: Durable Goods Orders 8:30 AM ET Jobless Claims 8:30 AM ET Bloomberg Consumer Comfort Index 9:45 AM ET EIA…
Source: http://www.wsj.com/articles/to-settle-sec-case-government-pays-itself-100-000-1471991173
Stocks rallied on Tuesday as investors digested the latest round of mixed economic and earnings data. Shares of Best Buy Co. Inc. ($BBY) gapped up after the retail giant reported earnings. The company said online sales helped last quarter and they are going to do more to win market share back from Amazon.com (AMZN). On the…
Market Update: Stock futures are quiet ahead of Wednesday’s open as the market continues trading in a relatively tight trading range. Gary’s Thoughts: Quiet is the word. Not much to add. Economic Data: MBA Mortgage Applications 7:00 AM ET FHFA House Price Index 9:00 AM ET Existing Home Sales 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET…
Stocks were quiet on Monday as oil prices fell by over -3%. In recent sessions, oil flirted with resistance near $50/barrel and is now pulling back a bit. In M&A news, Pfizer ($PFE) said it will acquire Medivation ($MDVN) for $81.50/share, or about $14 billion in cash. Medivation has one big cancer drug that attracted Pfizer to…
Market Update: Stock futures are higher ahead of Tuesday’s open as the market remains strong. Gary’s Thoughts: Futures are up just beacause. Watch financials and watch major indices from the past few week’s tight action. A move above and …. Economic Data: Redbook 8:55 AM ET New Home Sales ]10:00 AM ET Richmond Fed Manufacturing Index 10:00 AM ET…
None of our themes have changed. The breakout of the 18 month trading range in the Dow and S&P was nothing but bullish. We said that based on precedent. Whenever a couple of major indices break out of long ranges, it usually works for a while. But there was something else that was also very…
Market Update: Stock futures are a little lower ahead of Monday’s open as the market remains strong. Gary’s Thoughts: No biggie. Indices remain tight. Economic Data: Chicago Fed National Activity Index 8:30 AM ET 4-Week Bill Announcement 11:00 AM ET 3-Month Bill Auction 11:30 AM ET 6-Month Bill Auction 11:30 AM ET Highlights: Promised prosperity never arrived in Russian-held Crimea,…
Market Update: Stock futures are lower ahead of Friday’s open as the market pulls back from record highs. Gary’s Thoughts: No way…futures down? Of course, it will get bought up as market never goes down. Bazinga! Watch oils. Watch financials…and for a chancge, those numbers for AMAT were very good. Economic Data: Baker-Hughes Rig Count 1:00 PM ET…
