Friends Today was a day of totally mixed messages. On one hand, we had an upward revisal to the 4th quarter GDP number and a very strong Chicago PMI number. On the other hand, Dr. Bernanke’s testimony in front of Congress was disturbing to the “risk on” crowd, as the...
Friends Well, the Dow finally held and closed above 13,000 and the S&P 500 above 1370 for the first time since the summer of 2008. On the economic front, the durable goods number was disappointing this morning as well as the Case-Shiller index (which indicated that...
Friends The bull market pattern continues. After being down 100 Dow points early this morning, stocks once again had a nice reversal and finished the day just about flat. This pattern has been in place so far this year, with stocks opening lower and recovering as the...
Friends, Hovering around the 13,000 milestone again, traders appeared lackluster as stocks see-sawed much of the day despite the latest dose of data – upbeat consumer sentiment news. The Dow eased back just 2 points at 12,983 while the S&P tallied 2 points to finish...
Friends, Investors shrugged off yesterday’s bout of selling and the Dow once again teased the 13,000 level before closing up 46 at 12,984. The S&P finished up 6 points at 1,363. Along with a good home sales report, the markets were mostly up on economic data showing...
Friends Well, we got a deal in Greece (just delays the inevitable for a little while longer) yet traders seemed somewhat uninspired as the Dow Jones Industrial Average, having taken out 13,000 earlier in the session, ended the day only slightly positive. For the day...
Friends, After a wobbly day, stocks ended with only modest losses. The DJIA closed at 12,939 (-27) and the S&P at 1358 (-5). Gold spiked in last trading hour to close at $1771. Oil reached $107 before retreating in the final hour to end at $106.28 up just 3 cents from...
Friend With a three day weekend upon us, traders seemed to have checked out early. The economic news was less than thrilling this morning but not terrible. The CPI number came in as expected, but the Leading Economic Indicators were a bit shy of expectations. Of...
Friends The bears were growling yesterday, having enjoyed the worst down day of the year and the undoing of market high-flyer Apple. A day later, the bears are heading back into hibernation. Remember how the sentiment did a 180 yesterday and every pundit on television...
Friends Stocks were able to recover yesterday after being down 85 Dow points in the early afternoon, but today was another story. After a small up opening, stocks spent the rest of the day in negative territory. Market darling Apple rose early in the session to over...
Friends The headline in Barron’s magazine this weekend was Dow 15,000. The article referred to Wharton School of Finance professor Jeremy Siegel’s call for the Dow to likely see this level by the end of next year. Siegel also referred to a 50/50 chance of the Dow...
Friends We thought we had a deal in Greece yesterday (though we were skeptical), but as today indicates, this drama never seems to end. It will be another weekend of anticipation and anxiety, as we wait to see whether the hoped for austerity measures can pass...
Friends The morning was filled with a bevy of news items including a better than expected weekly jobless claims number. Jobless claims fell 15,000 last week to 358,000 and continues to show an improving trend. Also Greek leaders seem to have a deal in terms of...
Friends Of course we continue to wait for a deal in Greece, and of course it is delayed another day. Let’s move on. After an early morning selloff (Dow down about 50 points) stocks staged a midday rally and by the close the Dow Jones Industrial Average was up 33...
Friends I hope everyone enjoyed the Super Bowl, or at least some of the commercials, for those of you who are not sports inclined. In the end, the New York Giants representing the NFC, were the winners and that is supposed to be good for stocks (hey, us stock market...
