Markets have cheered the latest jobs report as payrolls came in better than expected at 165,000 in April and unemployment rate fell to 7.5 percent. The stock market rallied while the bond market witnessed a sellout Friday. Bond markets were pricing in a slowdown due to the federal spending cuts in the US and investors were mostly long bonds due …
Positive Headlines Help Stocks Surge To New Record
[Chart courtesy of MarketWatch.com] Equity markets celebrated yet another record date as the European Central Bank (ECB) cut its key interest rate, domestic jobless claims unexpectedly fell to a five year low, and the technology sector reported strong earnings. The Dow Jones Industrial Average was up 130 points (0.9%) to 14,830, the S&P 500 Index added 15 points (0.9%) to …
Poor Macro Data Knock Down the Bulls
[Chart courtesy of MarketWatch.com] Disappointing economic data finally dragged stocks down. The Dow Jones Industrial Average was down 138 points (0.9%) to 14,701, the S&P 500 Index lost 15 points (0.9%) from its record high to 1,583, and the Nasdaq Composite decreased 30 points (0.9%) to 3,299. Volume came in slightly lower than Tuesday. Commodity companies dropped the most among …
More Bad Economic News = More Gains in the Market
[Chart courtesy of MarketWatch.com] The bulls simply don’t know how or when not quit as stocks ended Tuesday’s session on a modestly higher note in the face of another day of mushy global economic data. The Dow Jones Industrial Average moved up 21 points (or 0.1%) to 14,839, the Nasdaq Composite gained 22 points (0.7%) to 3,329, and the Standard …
Markets Hit New Record Though It Was A One-Sided Affair
[Chart courtesy of MarketWatch.com] Stocks climbed throughout the session today to kick off the week with solid gains despite mixed economic data. The Standard & Poor’s 500 Index rose 11 points to 1,594 surpassed its previous record close set earlier this month. Growth-oriented stocks, including energy and technology, lead the way to the index’s sixth rise in the past seven …
One Man’s Opinion: Why Has The US Economic Recovery Been So Choppy?
The latest inflation number has been quite low at an annual pace of 1.2 percent, but it’s a lagging indicator and will probably keep the Fed on hold for longer, meaning bond proxies and income orientation that has worked well thus far will continue to do so in future, said David Rosenberg, chief economist and strategist at Gluskin Sheff & …