[Chart courtesy of MarketWatch.com] US equity averages ended mixed with the Dow Industrials eking out a slight gain, and the S&P 500 Index extending its longest slump of the year as Cyprus’ rejection of a bailout levy eclipsed economic data that showed growth in new home construction. Stocks retreated as lawmakers rejected an unprecedented levy on bank deposits, throwing into …
Cyprus Drags Down Wall Street; Europe Bruised By Cyprus Bank-Deposit Levy
[Chart courtesy of MarketWatch.com] US indexes fell for a second day, after the Dow Industrials reached record highs last week as a controversial bank tax levied by euro-area leaders on Cypriot bank deposits in return for a bailout reminded investors Europe’s debt problems are far from over. Equities fell hard at the start as investors grew worried by news that …
One Man’s Opinion: Is New Cash Driving The Market Indexes Higher?
It is assumed the “great rotation” causes money to flow from bonds to equities that drives the stock market higher. However, in the present context, many disagree saying it’s simply new cash that’s driving the markets higher. Jeffrey Rosenberg, chief investment strategist for fixed income at BlackRock Inc, is one who agrees with that theory. If you look at the …
Jobless Data Lifts S&P 500 To Near Record; Europe Stocks Rise To 4 ½ Year High On US Rally
[Chart courtesy of MarketWatch.com] US stocks climbed today, sending the Standard & Poor’s 500 index within two points of its all-time closing high and lifting the Dow to yet another record high, after government data showed jobless claims dropped unexpectedly last week to the lowest level in almost two months in a sign the economy is expanding. Earlier in the …
Dow Records Longest Winning Streak Since 1996 On Retail Sales; Europe Lower On Data, Italy Auction
[Chart courtesy of MarketWatch.com] Domestic equities rose marginally with the Dow Industrials capping its longest wining streak since 1996 after data showed retail sales increased in February the most in five months, bolstering confidence in the world’s largest economy. Economic numbers from Europe dampened sentiment before markets opened today. Data released by the EU statistics office showed industrial production fell …
Stocks Close Mostly Lower, But Dow Hits Record; European Stocks End Flat
[Chart courtesy of MarketWatch.com] US stocks closed mostly lower Tuesday as the S&P 500 snapped a seven day winning spree, but the blue-chip Dow Industrials staged a late-session turnaround to finish at a record high for the sixth straight day. Meanwhile, amid the continuing saga of Washington’s budget wars, House Republicans introduced a plan to cut the deficit to $528 …