[Chart courtesy of MarketWatch.com] US stocks surged Wednesday in a late rally, sending the Dow Industrials to a five-year high as investors welcomed more upbeat housing data and the Federal Reserve chief’s dovish testimony for the second day, reiterating his commitment to monetary stimulus to bolster growth. In other words, the spiked punchbowl will not be watered down as was …
Equities Rebound On Economic Data, Fed Speak; Europe Slides On Italian Deadlock
[Chart courtesy of MarketWatch.com] US stocks advanced Tuesday, recouping more than half of Monday’s biggest decline in the benchmark indices since November as Bernanke defended the Fed’s policy amid solid housing and consumer confidence data. The jury is still out whether that was just a low volume dead cat bounce, or the beginning of something more. Economic activity in the …
US Indexes Break Below Major Milestone Levels As Italy And Sequestration Hit
[Chart courtesy of MarketWatch.com] US stocks turned severely lower, with the Dow Industrials and the S&P 500 suffering their sharpest one-day decline of the year, giving benchmark indexes the biggest loss since November as political instability in Italy and looming spending cuts in the US hit investor sentiment. Stocks erased early gains as partial election results suggested Italy may be …
One Man’s Opinion: Will Demand From Traditional Home-Owners Continue The Housing Recovery?
The latest round of economic data sends out mixed signal about the US economy. The Philly Fed’s General Economic Index fell to minus 12.5 in February, the lowest since June, from minus 5.8 in January. Does this mean the nation’s economic concerns are more regional than national? Not exactly, says Mark Zandi, chief economist at Moody’s Analytics Inc. The concerns …
S&P 500 Fights To Stay Above 1,500; US And European Equities Continue Their Slide
[Chart courtesy of MarketWatch.com] US equities finished lower for a second straight day as a weak regional manufacturing report weighed on investor sentiment while concern mounted that the US Federal Reserve will scale back the pace of stimulus. The Federal Reserve Bank of Philadelphia’s index fell to minus 12.5 in February, the lowest since June, from minus 5.8 the month …
Stocks Hit A Slippery Slope After Fed Minutes
[Chart courtesy of MarketWatch.com] US stocks turned sharply lower Wednesday, falling from five-year highs after minutes from the Federal Reserve’s last meeting showed the central bank may scale back its bond buying program. In other words, the odds have increased that the spiked punch bowl will be watered down. The Fed’s Open Market Committee had said the central bank would continue buying …