[Chart courtesy of MarketWatch.com] US equities managed to eke out modest gains with major averages hitting a near two-week high after a ceasefire deal was announced between Israel and Hamas in Egypt, propelling the S&P 500 and NASDAQ Composite into the expansionary territory for the fourth straight session. In the US, weekly jobless claims dropped to 410,000, a Labor Department …
US Rally Fizzles As HP Plunge Offset Housing Gains; Europe Buoyed By Mideast Hope
[Chart courtesy of MarketWatch.com] Capping a choppy trading session, US stocks finished little changed Tuesday after an early rally triggered by an increase in housing starts in October was offset by a sharp sell-off in Hewlett-Packard shares. The looming budget negotiations on tax hikes and spending cuts continued to weigh on investors after Federal Reserve Chairman Ben Bernanke urged lawmakers …
Fiscal Cliff Hope Fest Pushes Indexes Higher, But On Very Low Volume; Europe Surges
[Chart courtesy of MarketWatch.com] US stocks surged Monday to log their biggest single-session gain in months on positive housing data and increasing investor confidence that a budget deal would be reached in Washington. Mind you that a deal is pure hope at this time, and I have my doubts that total cooperation without any battle will actually be feasible. Wall …
One Man’s Opinion: Are Worries About The Fiscal Cliff Over-hyped?
The US economy grew by 2.3 percent in the second quarter, while the third quarter growth rate has been about three percent, which means average annual growth will be about 2.6 percent in 2012, says James Paulsen, chief investment strategist at Wells Capital Management. There are so many more parts which are working than they were a year ago. …
Last Hour Rally Saves The Day For Equities; Domestic TTI Barely Breaks The Trend Line To The Downside
[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 …