[Chart courtesy of MarketWatch.com] US equities moved higher Monday after retail sales data for September came in better than expected and Citigroup delivered above consensus quarterly earnings results. Sentiment was buoyed after a Commerce Department report revealed retail sales rose by a seasonally-adjusted 1.1 percent, beating forecasts of a 0.8 percent rise marginally. A separate report showed the Federal Reserve …
Market Loses Steam As Euphoria Over “Incomplete” Jobless Data Fades; Europe Stocks In Rally Mode
[Chart courtesy of MarketWatch.com] US markets erased gains to end nearly flat today as early optimism over upbeat economic data faded and a slump in Apple Inc weighed on technology stocks. Earlier, stocks rose for the first time this week and commodities rallied as risk sentiment improved following a record decline in US unemployment claims. A Labor Department report showed …
Heading South On Earnings Worries; Europe Retreats Over IMF Warning
[Chart courtesy of MarketWatch.com] US stocks pulled back sharply Wednesday with the S&P 500 posting its fourth down session in a row, as investors became concerned over growth, or the lack thereof, after aluminum producer Alcoa cut its global demand outlook citing weak Chinese demand. Chevron’s warning on third quarter profits weighed on the Dow Industrials after the oil conglomerate …
Equities Tumble Ahead Of Earnings Season; Europe Drops After IMF Forecast
[Chart courtesy of MarketWatch.com] Equities plunged today with the S&P 500 and NASDAQ extending losses for the third straight day as investors chose to remain on the sidelines while third quarter earnings season started unofficially. The Dow Jones Industrial Average (DJIA) slipped 110 points, finishing lower for the second day in a row. The 30-stock blue chip index turned overtly …
Earnings Worries Pull The Major Indexes Off Their Highs; Europe Stumbles
There was no surprise in this corner as Wall Street pulled back in anticipation of a weak earnings season with the 11-quarter year over year streak of gains being in jeopardy. Even though expectations have been ‘dumbed’ down, it’s still questionable whether this very low bar can even be conquered. If not, we’re in for a pullback, which is long …
Economic Report, ECB Spur Bank Rally; Europe Wobbles
[Chart courtesy of MarketWatch.com] US stocks jumped Thursday with the Dow registering its third gain session in four after the latest jobless report beat estimates, and the US Fed said it allegedly can manage risks arising out of the latest round of balance sheet expansion. Sentiment got a boost after a Labor Department report revealed initial unemployment benefits claims rose …