Market Update: Stock futures are lower ahead of Wednesday’s open. Stocks fell on Tuesday which was the last trading day for May. It is normal to see the market pullback a little after the recent and strong rally we saw over the past week and half. Gary’s Thoughts: Yuck open. End of month, pre-holiday over. Let’s…
Stocks were closed on Monday for Memorial Day. Stocks ended mixed on Tuesday as investors digested a slew of economic data. Tuesday was also the last trading day of the month and stocks rallied for the month of May. On the economic front, personal income and outlays rose 0.4% which matched consensus. The S&P Case-Shiller…
Market Update: Stock futures are quiet ahead of Tuesday’s open. Stocks in the U.S. were closed on Monday for Memorial Day. Today is the last trading day of the month and investors then have the always fun jobs report coming out on Friday. Gary’s Thoughts: QUIET IS A GOOD THING AFTER A MOVE UP LAST WEEK….
Did you know that San Francisco is becoming the first US city to require health warnings on ads for soda and other sugar-added drinks? What about Snickers bars, Hershey bars, every dessert at The Cheesecake Factory, Yodels, Hostess Twinklies, Red Vines, all non sugar-free gum, Twix, Reeses Peanut Butter Cups, Haagen Daas, the buffett at…
Market Update: Stock futures are quiet ahead of Friday’s open as the market pauses to digest this week’s strong rally. GDP comes out at 8:30 and Yellen speaks at 1:15, just in time ahead of the long weekend. Stocks will be closed on Monday for Memorial Day. Gary’s Thoughts: The positive bias continues. Have a great…
Stocks were relatively quiet on Thursday as investors digested the latest round of economic data and Tuesday and Wednesday’s strong rally. Weekly jobless claims slid by 10k to 268k, beating estimates for 275k. Durable goods rose 3.4%, beating estimates for 0.3%. Meanwhile, pending home sales, jumped 5.1%, easily beating the Street’s forecast for 0.8%. Gary’s…
Stocks rallied nicely on Wednesday as buyers showed up and added to Tuesday’s gain. Overnight, the latest “deal” was reached for Greece which helped ease concerns about another debt scare. The euro zone gave Greece its firmest offer so far of debt relief in what finance ministers called a breakthrough deal that won a provisional…
Market Update: Stock futures are higher ahead of Thursday’s open as the market pauses to digest Tuesday and Wednesday’s strong rally. Gary’s Thoughts: Again…no complaints but already market very overbought in here. Economic Data: 52-Week Bill Settlement James Bullard Speaks 5:15 AM ET Durable Goods Orders 8:30 AM ET Jobless Claims 8:30 AM ET Bloomberg Consumer Comfort Index 9:45…
Stocks enjoyed strong gains on Tuesday helping the major indices jump back above their respective 50 day moving average lines. Stocks extended gains after U.S. new home sales jumped to the highest level in eight years. New home sales rose to 619k, beating estimates for 523k. Meanwhile, the Richmond Fed Manufacturing index plunged 15 points…
Market Update: Stock futures are higher ahead of Wednesday’s open as the market is trying to bounce as we approach the final week of the month. Gary’s Thoughts: So far, end of month, pre holiday acts very well. We have been here before. Tease down, tease up. As we said on radio, one of these…
