[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks turned the boat around today, which entailed the Dow snapping a seven-session losing streak. The market had lost momentum over the past week, as shares have been weighed down by a fourth straight quarter of negative profit growth for the S&P 500, above-average valuations and a renewed dip in oil prices. …
Dow Slides Again; Oil Closes Below $40 A Barrel
[Chart courtesy of MarketWatch.com] 1. Moving the Markets If you read yesterday’s commentary, you may remember me discussing the possibility that U.S. Crude oil could fall below $40 a barrel. Well, today it happened, which is completely opposite of how analysts were expecting the black gold to perform this summer. Many had pegged $50 per barrel as a mark that …
Mediocre Monday; Uber Hails Ride Back From China
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. stocks were mixed Monday as a two-week period of relative stability in the markets continued despite a sharp slide in oil prices. In Uber news, we heard today that the company is officially “bowing out” of the China market. Uber’s Chinese operations will merge with Beijing-based ride hailing firm Didi Chuxing. …
Mixed Signals
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks ended mixed after the Federal Reserve’s afternoon decision to leave interest rates unchanged was no surprise to investors. The Fed, which hiked rates off 0% back in December for the first time in nearly a decade, has kept rates steady this year, citing uncertainty abroad, the aftermath of the ‘Brexit’ vote …
Bulls Are On Hold; Waiting For The Fed
[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. stocks ended mixed Tuesday as investors digested a mixed batch of earnings reports and as the Federal Reserve kicked off a two-day meeting on interest rates. As you can see in the above S&P chart, stocks dropped sharply during mid-day about 0.75%, but were pushed back up since, with the Fed …
Slow Start Following Four Week Run
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After ending last week at a record high, the U.S. stock market pulled back Monday ahead of a week that features a big onslaught of corporate earnings results, a key meeting on interest rates and a barrage of fresh economic data. Stocks are riding high on four straight weeks of gains, driven …