[Chart courtesy of MarketWatch.com] 1. Moving the Markets The Dow and S&P 500 indexes moved higher Thursday, pushing further into record territory as investors (domestic and abroad) reacted to a positive earnings report from JPMorgan (JPM) and continued to price in/hope for further stimulus from global central bankers despite interest rates remaining at depression levels. Investors got a boost from …
Dow Conquers 18,000 Level
[Chart courtesy of MarketWatch.com] 1. Moving the Markets Despite yesterday’s miserable failure of the OPECers to come to a production limitation agreement, the markets headed north with the S&P climbing to a 4-month high while the Dow managed to close above the 18,000 level, its highest point since last July. When news of the OPEC failure came out yesterday, oil …
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 …
Stability Returns; Or Is It A Dead Cat Bounce?
[Chart courtesy of MarketWatch.com] 1. Moving the Markets After an early, rough start Thursday, stocks finally shot higher with the Dow jumping more than 300 points before moderating its gains after Wednesday’s brutal sell-off that sent the broad U.S. stock market down more than 10% from its highs. Of course, the indexes were oversold, so a bounce back had to …