[Chart courtesy of MarketWatch.com] US equities advanced today, sending the S&P 500 to its highest level since December 2007 as better-than-forecast housing data and initial jobless claims offset mixed corporate results. The boost came after the Commerce Department reported a sharp rise in the number of new homes being built in December. Housing starts vaulted 12.1 percent last month, the …
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 …
Equity Indexes Rally On Fed Stimulus Decision; Are We Facing Another Bubble?
[Chart courtesy of MarketWatch.com] Extending their winning ways for the third straight session after the US Federal Reserve opted for a third round of quantitative easing to boost growth, the S&P 500 rallied to its highest level since 2007 Thursday. The Dow Jones Industrial Average (DJIA) leapt 207 points, the highest since December 2007. Within the blue-chip index, breadth remained …
US Indexes Trim Losses While Europe Tumbles Ahead Of ECB Meeting
[Chart courtesy of MarketWatch.com] US equity indexes started September on a weak note as investors’ concern that the economy was slowing over weak manufacturing data was somewhat tempered by hopes the European Central Bank will intervene to tame the continent’s debt crisis. Here we go again. We will find out soon if Mario Draghi’s promise to deliver a European solution …
Stock Indexes Retreat As Fed Stimulus Hope Fades; Europe Slides On PMI Data
[Chart courtesy of MarketWatch.com] Stock indexes tumbled with the Dow industrials posting its biggest fall in more than a month that also marked its fourth down day after global manufacturing data showed signs of slowdown and a US Fed official cast doubts over further accommodative policies soon. The Dow Jones Industrial Average (DJIA) closed 115 points lower after losing as …
Equities Pare Losses After Fed Minutes; Europe Slumps Ahead Of Greece Meeting
[Chart courtesy of MarketWatch.com] Equities trimmed losses Wednesday with the broad market closing near flat after the minutes from the Fed’s last meeting showed many policy makers favored another round of monetary stimulus if the economy failed to show signs of a durable pick up. The Dow Jones Industrial Average closed 31 points lower after sinking as much as 83 …