[Chart courtesy of MarketWatch.com] Stocks ended flat Thursday, taking a breather after a nice two day rally. Trading today was mostly influenced by earnings reports from Bank of America (BAC) and Wells Fargo (WFC). Bank of America topped both earnings and revenue estimates. Wells Fargo topped profit expectations but was slightly below par on revenue. BofA gained and Wells fell …
Markets Climb Back To 2016 Highs
[Chart courtesy of MarketWatch.com] Markets soared higher today on strong earnings from JPMorgan that resulted in bullish sentiment on upcoming report cards for the financial sector. That’s the official MSM version. Mine is that if you set the earnings bar low enough, the numbers can be beat, which happened today and resulted in a lift of share prices for the …
Oil And Equities: Back To 100% Correlation
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks posted strong gains today, rising nearly 1% across the board. Oil, as it has been (and seems like will be for the near future) was “the” big market mover. The black gold gained 3.96% to move above $41 a barrel, which makes economic bulls even more bullish. In the world of …
Early Rally Runs Out Of Steam—Indexes Slip Into The Red
[Chart courtesy of MarketWatch.com] 1. Moving the Markets All three U.S. benchmarks began the day in positive ground, before sliding back. About mid-afternoon, they faltered into negative territory, ending at session lows by the closing bell. The buzz of late has been all about earnings expectations and how the market will react. If earnings come in negative in the January-March …
Markets Drop; Are The Bears Sharpening Their Claws?
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The bullish optimism that was powering stocks over the past month is fizzling. Caution and skepticism are poking holes in the sentiments, and the bears are slowly awakening from hibernation it seems. Whether it will be enough to end our recent Buy signal remains to be seen. Oil has resumed its decline, dropping …
Oil Ignites Equities
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Markets rallied today as investors reacted to a rebound in oil prices of over 5%, but hesitancy remains amidst upcoming earnings season and the race for the White House. The outlook for Q1 earnings remains bleak at present. Analysts expect a nearly 8% contraction in earnings, which would mark a third straight …