[Chart courtesy of MarketWatch.com] US equity indexes extended gains into a second session with the S&P 500 index hitting its highest level in two months amid signs of progress in Washington in reaching a deal to avert a hike in taxes and steep spending cuts next year. Stocks surged higher after House Republicans held a news conference to say they …
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 …
ECB Invokes ‘Desperate’ Measures; Market Goes Into Mania Mode
[Chart courtesy of MarketWatch.com] Boosted by European Central Bank President Mario Draghi’s announcement of an open-ended bond purchase scheme aimed at bringing down Spanish and Italian borrowing costs, US stocks broke-out Thursday to finish on a multi-year high even as the bank chief made good of his earlier pledge to preserve the common currency at any cost. Countries must seek …
US Equities Pause Ahead Of FOMC Minutes; International Buy Signal Generated
[Chart courtesy of MarketWatch.com] US equities hit the pause button on a placid August trading session, as investors chose to wait ahead of the Federal Reserve’s minutes from the last meeting due out ater this week as worries about Europe offset gains in the technology and banking sector. The Dow Jones Industrial Average (DJIA), the S&P 500 and the NASDAQ …
Markets Hit Pause Button As Equity Rally Fades; Investors Looking For Direction From The ECB
[Chart courtesy of MarketWatch.com] The US equity rally faded after three straight up days with Wall Street turning cautious even as the Dow industrials and S&P 500 managed to stay in the green while the NASDAQ slipped. European stocks ended marginally higher as Europe chose to ignore the region’s negative economic data and focus on the possibility of an early …
US Stocks Retreat On Weak Data And Europe Crisis; FBT Pops, TYH Tanks
[Chart courtesy of MarketWatch.com] Stocks ended lower for the second day in a row Thursday as unease over Europe and weak US economic data eclipsed the positive Q1 earnings readings. Treasury yields dropped for the second day in a row as US jobless claims and existing home sales data failed to meet expectations, increasing the attractiveness of US assets. The …