[Chart courtesy of MarketWatch.com] 1. Moving the Markets U.S. and European stocks rallied big time as investors appear to be front running or betting that voters in the U.K. will choose to remain in the European Union. Ahead of the vote, a new Ipsos Mori poll completed Wednesday night showed the “remain” supporters with a narrow lead — 52% to 48%. But the polling firm’s …
Running Out Of Steam
[Chart courtesy of MarketWatch.com] Stocks ended flat Thursday, taking a breather after a nice two day rally. Trading today was mostly influenced by earnings reports from Bank of America (BAC) and Wells Fargo (WFC). Bank of America topped both earnings and revenue estimates. Wells Fargo topped profit expectations but was slightly below par on revenue. BofA gained and Wells fell …
Oil And Equities: Back To 100% Correlation
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Stocks posted strong gains today, rising nearly 1% across the board. Oil, as it has been (and seems like will be for the near future) was “the” big market mover. The black gold gained 3.96% to move above $41 a barrel, which makes economic bulls even more bullish. In the world of …
When Bad News Is Good News And Good News Is Great News
[Chart courtesy of MarketWatch.com] 1. Moving the Markets As I was scanning the early news on MarketWatch, I cam across the headline “Wall Street gains as weak data spurs stimulus,” which was later removed and replaced with “Wall Street surges as data points to economic recovery” confirming that according to MSM bad news is good news and good news can …
Equities End Mixed As Crude Oil Slides
[Chart courtesy of MarketWatch.com] 1. Moving the Markets The major U.S. stock indexes kicked off the trading week in a mixed fashion. U.S. stocks, still reeling from its worst yearly start ever, were able to close mostly higher in a bumpy trading session as traders shook off fears after China’s 2015 economic growth hit its lowest level in 25 years, …
Markets Climb On Positive Earnings Reports
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Netflix (NFLX) was all over the news today. The stock surged more than 12% today after the public welcomed earnings news that the company’s revenue jumped 24% and membership surpassed 60 million global users. The Nasdaq composite index reacted accordingly, jumping back above the 5000 mark for the day to close at …