Some profit taking materialized on the broad market shortly after the open, but equities rallied back fairly strongly after dipping to their lows around noon. Still, the indexes lost ground modestly for the session. Early strength had been catalyzed by the Euro hitting a new two-month high this morning and by advances on Europe’s major
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Among today’s economic data releases, June durable goods orders showed what economist called a ’surprising’ decline of one percent (consensus estimate: a rise of one percent). Excluding transportation, durable goods orders were off 0.6% (consensus estimate: a rise of 0.6%). Furthermore, last month’s durable goods order (both total and excluding the transportation component) were revised
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Positive earnings thus far, a good outlook from FedEx, a strengthening Euro, and some surprisingly strong housing sales numbers did their part to keep the recent stock market rally going. Some market performance data has been posted above.
According to the Commerce Department, June brought an almost 24% surge in new home sales month-over-month. This brought
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The bulls bought the dip with a vengeance (and good success) today, as the broad market turned a roughly one percent shortfall into a roughly one percent gain today. Market observers saw no apparent catalyst for the strong, persistent intraday move and speak of short covering, as well as pointing out that a decline of
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US equity markets snapped back from last Friday’s pullback as investors hope Q2 earnings will continue to come in strong and that positive corporate reports would bode well for a continued US economic recovery. There is data backing up the good start to this season’s earnings reports: As of this morning, all but three of
read more..
Q2 earnings have largely been better than expected, but today, investor enthusiasm about this fact was clearly held in check. Instead, gloomy consumer sentiment data and not so stellar revenues from GE, as well as from two large US banks, hit the US equity markets. Market commentators suggest that strong earnings may not be able
read more..
The bulls bought the dip with a vengeance (and good success) today, as the broad market turned a roughly one percent shortfall into a roughly one percent gain today. Market observers saw no apparent catalyst for the strong, persistent intraday move and speak of short covering, as well as pointing out that a decline of
read more..
US equity markets snapped back from last Friday’s pullback as investors hope Q2 earnings will continue to come in strong and that positive corporate reports would bode well for a continued US economic recovery. There is data backing up the good start to this season’s earnings reports: As of this morning, all but three of
read more..
Q2 earnings have largely been better than expected, but today, investor enthusiasm about this fact was clearly held in check. Instead, gloomy consumer sentiment data and not so stellar revenues from GE, as well as from two large US banks, hit the US equity markets. Market commentators suggest that strong earnings may not be able
read more..
Equities drifted lazily for much of the session; a dearth of economic and corporate news and very light volume provided little incentive for market participants. Late in the session, the indexes broke out of their lull and headed for a fourth straight up-close, with the broad market showing an excellent weekly gain of some 5%
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