Market Update: Stock futures are slightly higher ahead of Friday’s open as investors wait for the always fun (and fake) jobs report. Gary’s Thoughts: The fake job’s number was much better than expected after being much owrse than expected last month. Futures have jacked to the upside as we write this. We think markets wanted to edge up…
Stocks opened higher but closed mixed to lower on Thursday as investors waited for Friday’s always fun jobs report. Before the open, ADP, the country’s largest private payrolls company, said U.S. employers added 172,000 new jobs in June, beating estimates for 150,000. A separate report showed that weekly jobless claims slid by 16,000 to 254,000 last…
Stocks opened lower but turned higher after the bulls showed up and defended the 50 DMA line for the major indices. The ISM non-manufacturing PMI rose to 56.5 last month versus 52.9 in May. Markit’s U.S. services PMI edged higher to 51.4 in June, up fractionally from 51.3 in May. At 2pm EST, the Fed released…
Market Update: Stock futures are quiet ahead of Thursday’s open as global markets digest this week’s action. The jobs report will be released before Friday’s open and then we enter earnings season. Gary’s Thoughts: Flat as flat open can be…but we are back to a couple of indices nearer to highs and we must say, the…
“LAWS ARE ONLY FOR US LITTLE PEOPLE!” By Gary Kaltbaum-July 5th,2016 She put in servers on purpose. She used the servers on purpose. She destroyed emails on purpose. She lied to the American public over and over again about the purpose of those servers on purpose. She lied about using classified material on purpose. She lied about…
U.S. stocks were closed on Monday in observance of independence day. Overseas markets fell as fresh concern spread regrading Brexit. On Monday, the European Central Bank opened the door to state aid for euro zone banks. Italy was back in focus when they entered into to talks with the European Commission to recapitalize their banks with…
Market Update: Stock futures are lower ahead of Wednesday’s open as global markets remain under pressure and investors wait for the Fed minutes to be released at 2pm est today. Next up will be Friday’s jobs report and earnings season (over the next few weeks). Gary’s Thoughts: Lower but off lows. Markets remain mushy with foreign markets…
Market Update: Stock futures are lower ahead of Tuesday’s open as the market digests last week’s very strong bounce after the initial Brexit sell-off. Looking forward the market is waiting for the jobs report and then earnings season to begin next week. Gary’s Thoughts: Now that end-of-quarter, pre-holiday is over, we shall see. Would be normal…
“HECKUVA END OF QUARTER ACTION!” By Gary Kaltbaum-July 5,2016 After two days of absolute nausea, we wrote to you Monday night that we thought a rally was about to start. The thought was simple. We were entering the end of quarter window dressing. We were entering the pre-holiday trading. Bearishness picked up to levels…
On Thursday, stocks continued to rally as they attempt to repair their post-brexit sell off. The wild swings we have seen over the past five trading days are unprecedented and just illustrates how all the interference from global central banks continues to distort markets. Tuesday morning, Mr. Draghi (European Central Bank President) said Central Banks…
