[Chart courtesy of MarketWatch.com] Domestic stocks extended losses for the fourth straight session Thursday as investors weighed negative data on employment and manufacturing activity, and political uncertainties overseas. A Labor Department report revealed 439,000 Americans filed for unemployment benefits last week, a sharp increase of 78,000 that analysts attributed to Hurricane Sandy while a separate monthly manufacturing survey by the …
Equities Get Bruised Again; Middle East Weighs; Europe Sinks
[Chart courtesy of MarketWatch.com] Equities finished sharply lower Wednesday to extend losses into the third straight session this week, as major averages fell to multi-month lows over concerns about the upcoming budget debate. Markets turned jittery on news of conflict between Israel and Palestine, wiping out an early tech-driven rally. Stocks were on the decline after Egypt recalled its ambassador …
Equity Markets Get Clobbered; Trend Tracking Indexes (TTIs) Remain On The Bullish Side—But Barely
With the markets getting clobbered today, I thought for sure that both TTIs would retreat below their respective long-term trend lines and make the dive into bear market territory. Well, it was close, but it did not happen yet as the Domestic TTI stayed above the line by a scant +0.01%, while the international TTI remained a little more bullish …
Major Indexes Fall As Budget Debate Weighs; Europe Rises
[Chart courtesy of MarketWatch.com] US major indexes finished lower Tuesday after rallying early on as optimism over home improvement retailer Home Depot’s strong results were offset by fiscal cliff worries. Investors chose to stick to the sidelines, unsure if lawmakers could cut a deal that would stop the onset of sharp spending cuts and tax hikes in January. Giving up …
Equities Flat Ahead Of Budget Talks; Europe Slips Over Greece Uncertainty
[Chart courtesy of MarketWatch.com] US equities finished mostly flat with investors sticking to the sidelines before talks to head off tax hikes and automatic spending cuts that would begin in January as uncertainty over Greece and Europe still loomed on the horizon. Chinese exports grew the fastest in five months, topping estimates at over 11 percent, a report over the …
Will US Fiscal Headwinds Slow Down Growth In Q4?
Despite the looming ‘fiscal cliff,’ the US economy is unlikely to fall back into recession in 2013, especially when some good numbers are coming out towards the end of the year, says Julian Callow, chief international economist at Barclays Capital. US economists have recently upgraded growth forecasts to an annual clip of 2.8 percent from an earlier pace of 2 …