[Chart courtesy of MarketWatch.com] Equities recovered from yesterday’s minor pullback, with the S&P 500 Index snapping its first three-day decline of the year, after the Federal Reserve said it would continue to support the US recovery (AKA continuing its relentless money printing efforts) while eurozone leaders mulled options for Cyprus. Speaking to reporters at the conclusion of the two-day FOMC …
Index ETFs Still Affected By Cyprus; European Stocks Slump On Concern Cyprus To Reject Bank Tax
[Chart courtesy of MarketWatch.com] US equity averages ended mixed with the Dow Industrials eking out a slight gain, and the S&P 500 Index extending its longest slump of the year as Cyprus’ rejection of a bailout levy eclipsed economic data that showed growth in new home construction. Stocks retreated as lawmakers rejected an unprecedented levy on bank deposits, throwing into …
Stocks Hit A Slippery Slope After Fed Minutes
[Chart courtesy of MarketWatch.com] US stocks turned sharply lower Wednesday, falling from five-year highs after minutes from the Federal Reserve’s last meeting showed the central bank may scale back its bond buying program. In other words, the odds have increased that the spiked punch bowl will be watered down. The Fed’s Open Market Committee had said the central bank would continue buying …
US Indexes Hit Fresh Five-Year Highs; European Stocks Rally As German Sentiment Improves
[Chart courtesy of MarketWatch.com] US stocks finished higher Tuesday, sending the Dow Industrials and S&P 500 to new five-year highs, buoyed by a rise in corporate deal making and an improvement in German investor sentiment. OfficeMax Inc vaulted 21 percent while Office Depot Inc jumped 9.4 percent after the Wall Street Journal reported Monday (a market holiday) that the companies were in …
GDP Experiences Shrinkage; Stocks Retreat On Growth Worries; Europe Falls After US Economic Data
[Chart courtesy of MarketWatch.com] US equities finished lower Wednesday, dragging the index averages off five-year highs after the Federal Reserve said economic growth had paused following the release of a government report that showed the US economy contracted in the fourth quarter. The Federal Open Market Committee kept interest rates unchanged at near zero and maintained its aggressive bond-buying program. …
Up, Up And Away; Dow Hits 2007 High; Europe Touches 23-Month High
[Chart courtesy of MarketWatch.com] Equity ETFs mostly advanced today with the Dow Jones Industrial Average hitting a five-year high after data released showed continued improvement in housing and companies including Pfizer and Valero Energy reported earnings that beat estimates. The indexes picked up pace and rallied as the S&P/Case-Shiller index of US property values rose 5.5 percent in November after …