[Chart courtesy of MarketWatch.com] US stocks closed higher Wednesday as technology stocks rallied amid upbeat earnings result and lawmakers voted to temporarily suspend the federal debt limit, helping the S&P 500 post its sixth straight day of gains that saw the benchmark index hitting a new five-year high. Equities received support earlier after the Republican-controlled House of Representatives voted to …
The Relentless Equity March Continues; Europe Slips
[Chart courtesy of MarketWatch.com] US stocks gained Tuesday with the S&P 500 and the Dow finishing at fresh five-year highs amid better-than-expected quarterly results from corporations including insurer and Dow component Travelers Cos Inc. Equity averages were briefly dented earlier, offering the only buying opportunity of the day, after a report from the National Association of Realtors showed US existing-home …
One Man’s Opinion: Will Fiscal Tightening Cause A Recession In 2013?
Fiscal tightening won’t cause a recession in 2013, says Michael Darda, chief economist and chief market strategist at MKM Partners. The latest unemployment benefit claims number fell to a five-year low and is a leading indicator for the labor market. Housing starts are strong though they are at a low level. The upswing is gaining momentum indicating some firming rather …
Equities Rally On Economic Data; Europe Rises On Retailer Boost
[Chart courtesy of MarketWatch.com] US equities advanced today, sending the S&P 500 to its highest level since December 2007 as better-than-forecast housing data and initial jobless claims offset mixed corporate results. The boost came after the Commerce Department reported a sharp rise in the number of new homes being built in December. Housing starts vaulted 12.1 percent last month, the …
Indexes Are A Mixed Bag As Boeing Weighs On Blue-Chips; Europe Struggles On Growth Worries
[Chart courtesy of MarketWatch.com] US equities closed mixed as investors remained worried about the debt ceiling negotiations and global economic growth while a rebound for Apple Inc buoyed the technology sector. In economic news, the World Bank sharply cut its global growth forecast for this year citing austerity measures, low business confidence and high unemployment in advanced economies. The bank …
Early Sell Off Followed By Higher Close On Mixed Economic Data; Europe Ends Unchanged
[Chart courtesy of MarketWatch.com] US stocks fought back, rebounding from earlier losses Tuesday as a rally in retail and transportation shares eclipsed concerns about discussions on raising the debt ceiling in Washington, while further weakness for Apple weighed on the technology sector. On the economic news front, reports showed US retail sales rose 0.5 percent in December, led by an …