Stocks opened lower on Thursday as the US dollar soared. Overnight, stocks in Asia and Europe fell over 1% as sellers showed up after a nice two week rally. After Europe closed, buyers showed up and helped the major indices rally off their lows. Remember, we had a big run since May 19 and it…
Market Update: Stock futures are lower ahead of Friday’s open as the market continues to digest the recent and strong rally. Gary’s Thoughts: Every down open has been bought up. Remember what we said at the close yesterday. Our usual award winning technical report will be out on the weekend. Economic Data: Consumer Sentiment 10:00 AM…
SOURCE: http://www.washingtonexaminer.com/ajit-pai-fraud-from-obamaphone-program-reaching-500-million/article/2593375
Stocks rallied on Wednesday as the strong sector rotation we have outlined for you in recent weeks continued. On Wednesday, we saw big money flow into commodities, mainly steel, oil and gold stocks. Other sectors of the market also did well such as materials, transports, and industrials. Crude oil jumped above $51/barrel and gold prices…
Market Update: Stock futures are lower ahead of Thursday’s open as the market pauses to digest the recent and strong rally. Gary’s Thoughts: Pullbacks should be controlled and rotational at this time. When you have a chance, get reading about rates around the globe. Yellen and central banks say there is no bubble. No bubble? $10…
The S&P 500 traded at the highest level since July before it backed off and closed in the middle/to lower half of its daily range. Buyers showed up and sent oil, transportation and housing stocks higher helping them break above near term areas of resistance. Economic data was relatively light. First quarter productivity (which measures hourly output…
Market Update: Stock futures are higher ahead of Wednesday’s open as the market continues to rally. On Tuesday, the S&P 500 hit the highest level since July and is now above key resistance at 2,111. Gary’s Thoughts: The dollar smacked again this morning…oil, gold commodities again on the move. Here is what we wrote after…
Market Update: Stock futures are higher ahead of Tuesday’s open after Yellen made it clear that Friday’s dismal jobs report raised uncertainty regarding the economy. Gary’s Thoughts: Marginally up early. Paying attention to energy here off of yesterday’s move. Would love some sitting/pulling back. Economic Data: Productivity and costs Gallup US ECI Redbook Consumer Credit…
Stocks rallied nicely on Monday helping the Dow Jones Industrial Average and benchmark S&P 500 jump above near term areas of resistance and hit new highs for the year. Janet Yellen spoke on Monday and said Friday’s tepid Jobs Report created economic uncertainty which reduced the chance of a June rate hike. Oil stocks were…
Since we had some weather-related travel hell, just a few short notes on last week. Duh! The Fed will not be raising rates. Duh! The economy is not accelerating! As we have said for ages, the economy is blah. If not for 0% rates forever, negative rates, the printing of trillions and the buying up…
