Friends Oil prices surged today after OPEC agreed to cut oil production by 1.2 million barrels per day (the agreement was announced but is evidently not official yet), which would represent the first production cut by OPEC in eight years. This news caused energy...
Friends A drop in oil prices helped keep a lid on any attempt to rally stocks, as energy shares weighed heavily on the market averages. On the other hand, as expected the second look at 3rd quarter GDP showed continued improvement as the number came in at 3.2% beating...
Friends As we near the end of November, and with a busy week ahead on the economic front, stocks seemed determined to give back the gains achieved in Friday's abbreviated half day session, as the trading week begins. The market averages opened slightly lower and...
Friends As expected, trading was quiet, volatility was pretty much non-existent, and for the most part traders just wanted to get home to get the Thanksgiving festivities started. There was one interesting economic data point as the durable goods number came in much...
Friends Stocks enjoyed a nice rally at the opening of trading today led by a nice bounce in the price of oil. After that it appeared that traders went home. Indeed, after the initial surge, volatility was non-existent and stocks simply drifted near the highs of the...
Friends Traders have seemed to simply run out of gas this week. After last week's fireworks, this week's trading was on cruise control. The action has been in the currency markets and the bond market. The dollar has shown tremendous strength, while bonds have seen...
Friends Market participants had several economic reports to chew on this morning before the opening bell. The CPI number came in hotter than expected (the Fed should like that), Housing Starts surged in October, and the weekly initial jobless claims dropped more than...
Friends The stock market seemed to run out of gas today, except for a few tech names and some retailers. Target had better than expected earnings today, but Lowes had a disappointing quarter. Walmart will release its earnings report tomorrow, so we'll see how the...
Friends The Bears keep trying to zap the enthusiasm from this "Trump" rally, but the Bulls continue to buy pullbacks and drive many stocks higher. It is still the case that there are winners and losers in this environment, as it appears that a rotation from previously...
Friends Stocks seesawed between positive and negative territory during today's trading session, as traders continue to grasp just what the Trump victory means for different sectors and who will be the winners and who will be the losers. Bonds and gold continued to...
Friends As expected, it was a very quiet day of trading. Stocks simply drifted near the breakeven mark for the entire session as traders seemed somewhat exhausted from the week's proceedings. Remember, the bond market was closed today, so stock traders were left to...
Friends Another fascinating day in the markets. Bonds continue to sell off (rates rise) while stocks continue to make gains. Interestingly though, not all stocks are going up. For instance, the Dow was up a juicy 1.17% today, while the S&P was only up .20% and...
Friends Wow, wow, wow. What a day! You obviously know what happened with the election, but the action we have seen in the markets this week is amazing. In anticipation of a divided government with Clinton as President and a Republican Congress we had rallies on both...
Friends The global markets were caught off sides with the Trump win last night, as S&P futures experienced a limit down situation. But as this morning has unfolded, the futures erased the 5% downturn and at the opening the markets appear much more calm about the...
Friends It's almost over. People are voting, the results will start being counted shortly and we should have a new president elect tomorrow morning. In the meantime stocks began the day somewhat quietly but by midday the Dow was sporting a 150 point gain. As the...
