A strong start again reverted to a bearish sell-off – the bulls have been keen this week, but their staying power has been lacking. Interestingly, the bullish start came on the heels of S&P increasing their estimates for the loan losses in Spain’s banking sector and a credit rating downgrade of BNP Paribas.
In news closer
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On Sunday, the Gulf oil spill will be two months old. This is an ongoing environmental disaster, an ongoing disaster for BP (whose long-term viability is being questioned in some circles), and furthermore an ongoing headache (and perhaps also a disaster) for President Obama. The financial press is asking whether BP is the Next Lehman
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In spite of yesterday’s afternoon fade, the bears had little to celebrate today as market action was unanimously bullish right from the opening. IN fact, some market observers suggest that ‘risk appetite’ is coming back. Notable is the muted reaction to European news (emerging from financially troubled areas such as Greece and Spain). Some of
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In the absence of US economic data releases, the market found some follow-through from last Friday’s bullish market action but then faltered late in the session, particularly over the final hour of trading. An initial boost came from positive action seen on overseas markets, as well as strength in the euro. This strength had been
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The major US indexes managed to hold on to a strong early start and close virtually at their highs today, a display of bullish strength not seen in some time.
US equities found strength right from the starting bell based on bullish news from China where exports were up 48.5% in May, with imports surging some
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The Fed released its latest periodic Beige Book survey today, suggesting on the positive side that economic activity continues to improve across all 12 Fed districts, but on the negative side that the pace of economic recovery continues to be ‘moderate’. The report states that for the first time since the current recession, some degree
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A choppy session ended with a bullish (as opposed to the recently commonly seen bearish) finish today. The market however ended mixed, with the Nasdaq 100 failing to participate fully in the late-day rally. While this may be a positive sign, some market commentators do not want to read too much into today’s bullish action,
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Europe’s economic problems were once again in the forefront of financial press coverage today as the US major indexes lost ground again, with the Dow and the S&P 500 sliding to their weakest closes since early November 2009. While the bulls attempted a rally, the bears emerged victorious in the final hour. Market observers note
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The major US indexes managed to hold on to a strong early start and close virtually at their highs today, a display of bullish strength not seen in some time.
US equities found strength right from the starting bell based on bullish news from China where exports were up 48.5% in May, with imports surging some
read more..
The Fed released its latest periodic Beige Book survey today, suggesting on the positive side that economic activity continues to improve across all 12 Fed districts, but on the negative side that the pace of economic recovery continues to be ‘moderate’. The report states that for the first time since the current recession, some degree
read more..
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