[Chart courtesy of MarketWatch.com] US stocks advanced for a second straight day, sending the S&P 500 to a fresh five-year closing high after exports data from China bolstered the view the global economy is on the mend. China’s December exports surged 14.1 percent from a year earlier, almost triple the 5 percent growth projected by analysts and well ahead of …
More Slippage Ahead Of Earnings Season; Europe Retreats On Mixed Data
[Chart courtesy of MarketWatch.com] US equities extended modest losses into a second straight session as investors braced for the start of corporate earnings season. I did not know that two down days in a row were still permitted in this centrally planned economy, but I stand to be corrected… In economic news, US consumers expanded their debt to $16.1 billion …
Indexes Retreat Ahead Of Earnings Season; Europe Slips On Profit Taking
[Chart courtesy of MarketWatch.com] US stocks fell Monday with the S&P 500 index coming off a five-year high as Wall Street shifted its focus from the nation’s fiscal woes to the start of corporate earnings season tomorrow. Aluminum maker Aloca Inc will unofficially kick-off the fourth-quarter earnings season after the market closes on Tuesday. Fourth quarter earnings for S&P 500 …
One Man’s Opinion: Is The US Job Market Really Healing?
The latest non-farm payroll data shows the US economy added 155,000 jobs in December, and the unemployment rate remained unchanged at 7.8 percent, well short of the Fed’s stated target of 6.5 percent, which in turn will likely keep the central bank engaged in the foreseeable future. Does the present administration have any number that relates to job losses if …
Fed Minutes End Euphoric Rally; Europe Rises
[Chart courtesy of MarketWatch.com] US equities slipped slightly following the S&P 500 index’s biggest rally in a year as minutes from the Fed’s December meeting showed some policy makers were mulling whether to wrap-up its $85 billion monthly bond purchase program before the end of this year. What that means is that QE punch bowl addicted crowd may no longer have the …
Cliff Deal Reached—But Where’s The Meat?
[Chart courtesy of MarketWatch.com] Sure, the much feared slide down the fiscal cliff was avoided at the last minute, but the euphoric relief rally in the markets will likely be temporary in nature. Last time the S&P 500 gained some 60 points in 2 trading days, over 70% of it was given back within the next week. Upon closer inspection …