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…
Market Update: Stock futures are quiet ahead of Friday’s open as the market digests the very strong bounce after the Brexit sell-off. Gary’s Thoughts: Bank of England announces cutting rates..continues the amazing turnaround. More on the weekend. Happy July 4th! Economic Data: Motor Vehicle Sales PMI Manufacturing Index 9:45 AM ET ISM Mfg Index 10:00 AM ET Construction…
By Gary Kaltbaum-June 29,2016 After scanning Monday night, we came to a simple conclusion about Mr. Market. We thought that markets were stretched and extended to the downside beyond the beyond and that the end-of-quarter window dressing (illegal) and the pre-holiday trading would get the market rallying back up some of the nasty drop. So…two big…
