The equity markets treaded water today as a combination of better than expected European GDP and solid retail sales, counteracted the strong negative bias that still exists in the markets. The S&P 500 Index decllined by 4 points to close at 1079.
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trading news Archive
Daily Market Review 08/05/10
The equity markets were under some modest selling pressure today, as the jobless claims number increase by more than expected. The news was taken in stride as investors await tomorrows employment report. For the session the S&P 500 declined by 1 points to 1126.
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Daily Market Review 04/21/10
The equity markets consolidated today even though earnings continued to impress. Apple Inc, reported earnings after the bell yesterday, and beat expectation by a wide margin. The major US exchanges were mixed, as the Dow Industrials and the Nasdaq finished in the green, while the S&P 500 was slightly negative.
Daily Market Review 04/05/10
With many European markets closed today for Easter Monday, the US equity markets took the center stage on the first day back after the US Employment report. The S&P 500 Index continued its path upward increasing 9 points to 1187, and closing in on the 1200 index level. Crude oil also continued to push higher despite news last week that was fundamentally bearish on the petroleum complex. Crude oil closed up 1.83 per barrel making a new 52 week high to $86.70.
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Trading Opportunities 03/25/10
- Monday – March 29th, 2010 – EMU Consumer Confidence (900 GMT)
Confidence measures consumer sentiment in the Euro-zone nations. The figure is the result of Euro-zone consumer surveys personal finance, the job market, the likelihood of saving and expectations on the economy. High levels of consumer confidence bode well for the economy, indicating consumers are more likely to increase consumption spurring growth and potentially sparking inflation. Conversely
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Daily Market Review 03/22/10
The equity markets in the US where under pressure for a solid 2 minutes this morning, and then responded with upward momentum in the form of short covering. Coming into the weekend, many market participants were convinced that passage of a health care bill in the US, would lead to profit taking and pressure on riskier assets. This situation did not come to fruition. The S&P 500 Index rallied to a new 52 week high closing up 6 points to 1166. The dollar index sold off, and crude and gasoline edged higher.
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Daily Market Review 03/16/10
Riskier assets continued to move higher after the US Federal Reserve decided to keep interest rates unchanged, and also stated that rates would remain low for an extended period of time. The S&P 500 Index moved higher by 9.2 points touching a new 52 week high at 1159.5.
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Daily Market Review 03/08/10
The markets consolidated after the large run up on Friday, on low volume and very little volatility. The range for the day on the S&P 500 Index was 4 points and the market settled down .20 points to 1138.50. Today is what most analyst consider the 1 year anniversary of the bull run in equities as the market seem to bottom 1 year ago today. Implied volatility which is a measure of how much traders believe the markets will move over the course of a year also hit a 52 week low today.
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Daily Market Review 03/05/10
The week was capped off with a solid gain in the equity markets with the US charging ahead after a better than expected employment number. The S&P 500 surged 15 points closing the week up 33 points or 3%. The Nasdaq composite rallied 32 points and created a new 52 week high. The FTSE also made a 52 week high on Friday, and the Russell 200 Index also joined the party.
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Daily Market Review 02/08/10
The markets were on the defensive today, and the equity markets where not able to hold on to the late day short covering rally from Friday afternoon. The S&P 500 index closed down 9 points to 1057. Again the markets were very concerned about the European fiscal issues which are creating havoc in the European debt markets. Additionally, Investors weighed a report in The Wall Street Journal that Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year, bringing to a close a period of historically low interest rates that have made it easier for ailing banks to book big profits.
The markets had an opportunity to rally as China’s tightening of money market conditions has eased. The PBOC has been injecting extra funds for the last few days. The yield on the benchmark money market rate fell 18 basis points. Expectations for Yuan appreciation have moderated in recent days as well.
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Daily Market Review 02/05/10
The equity markets finished a very volatile day on an up note after the market gyrated violently for most of the trading session. At approximately 2pm EST, the US equity S&P 500 Index was down nearly 19 points but managed to finish the day up 3 points to 1066. Crude Oil slammed down to $69.70 but was able to finish the trading session at $71.60. The turnaround in the market was impressive, as the outlook for the close was very bleak.
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Daily Market Review 02/04/10
Sovereign debt was the term that struck a bell for investors today as European country debt worries spilled over into all asset classes. The equity indexes were hammered with the S&P 500 Index down 34 points or 3% today. The commodity markets were also down sharply with Crude Oil losing $4 dollars per barrel and gold losing 40 dollars per ounce. The Euro reached its lowest level since May of 2009. Volatility also returned to the market with the VIX volatility index rising 4 points to 25.5%.
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Daily Market Review 02/03/10
The markets consolidated today after two days of strong activity to the upside. Gasoline continued to climb, while the dollar softened and the equity indexes treaded water. The S&P 500 Index was down 6 points on the day at 1097.
On the economic front, private-sector jobs in the U.S. fell by 22,000 in January, the smallest drop since February 2008, and service jobs continued to rise, according to a national employment report published Wednesday by payroll giant ADP Inc.
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Daily Market Review 02/02/10
The Petroleum markets lead the charge today rebounding from support levels after OPEC Secretary General stated that the cartel is unlikely to change oil-production quotas at its meeting next month with the market as it stands. OPEC Secretary-General Abdalla el-Badri said. “If things stay as they are, with prices at this level, ministers will be reluctant to do anything,” el-Badri told reporters in London today.
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Daily Market Review 02/01/10
The equity and commodity markets rebounded today and the dollar gave back some of its recent gains. The US equity markets began the week on a positive note, as strong economic indicators in both US and Europe eased some of the pressure on riskier assets. For today’s trading session the S&P 500 Index was up 14 points to 1087.
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Daily Market Review 01/29/10
Strong economic news could not save the US equity markets today as the dollar index continued to rally, and commodities continued to fall. The dollar index made a new 6 month high today, and the S&P 500 index fell 10 points to 1073. The day concluded a down month for the US equity markets; it seems for the moment that the tide has turned for the bulls.
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Daily Market Review 01/27/10
Riskier assets including the US equity markets reversed course after spending the majority of the day in negative territory. After the FOMC (Federal Open Market Committee) announced that interest rates would remain low for an extended period, the markets moved down, and then crawled their way back into positive territory. The interesting news out of the meeting was that there was one decent. Kansas City Fed President Thomas Hoenig dissented from the decision. A Fed veteran, Mr. Hoenig is concerned the stimulus pumped to fight the crisis may stoke inflation. In a signed that investors are still relatively nervous, the US dollar index, made a 6 month high, and is currently trading at levels not seen since last August.
Daily Market Review 01/25/10
Riskier assets bounced today as investor’s fears about Greece debt, Beranke reappointment and China rate increases ebbed. The S&P 500 index increased in value by 5 points to 1097. Crude Oil rallied $1 per barrel to $75.28, and the Euro and GBP both increased against the dollar.
On the economic front, there was some interesting housing data for the market to absorb. Existing-home sales plunged in December, dropping lower than expected after three straight increases that were fed by the US government tax credit. Home sales on existing houses fell by 16.7% to a 5.45 million annual rate from an unrevised 6.54 million in November, according to the National Association of Realtors
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Daily Market Review 01/22/10
The equity markets and commodity markets continued to sell off this week as the dollar was the beneficial of flight to quality. Continued concern over potential rate hikes in China, the confirmation of Ben Bernanke and comments made by Barack Obama over trading account in US commercial banks where on the minds of investors. The 3 day slide in the US equity markets was the largest slide in the past 12 months.
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Daily Market Review 01/21/10
The equity markets took it on the chin today as the markets where lead down by financial institutions. Numerous factors lead to today’s selloff. A combination of weaker than expected economic news in the US, combined with heightening fears that China will tighten and proposed changes to trading operations in the US banking sector, all proved too much for the market to handle.
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Daily Market Review 01/20/10
At the end of the trading session today, the US equity markets bounced back from the lows created during the course of the session. The S&P 500 closed down 12 points at 1138, after touching 1129 which is approximately the 20 day moving average.
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Daily Market Review 19/01/10
The US equity markets were off to the races today retracing all of the loses suffered on Friday. Investors were increasing exposure to the technology sector ahead of earnings from IBM after the bell. The Nasdaq rallied 31 points to 2320 up 1.3% the S&P 500 rallied 14 points to 1150.
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Daily Market Review 15/01/10
The riskier assets started off defensively this morning fueled by comments from JP Morgan in a statement released during their earnings release. Although the banking giant released better than expected earnings, they warned of potential pit falls in retail credit in the future, which put the market on its heals immediately. For the day, the S&P 500 Index closed down 12 points at 1136.
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