ndexes gapped up at the open and stayed strong all day as corporate earnings reports generally pleased investors; some more Ebola news late in the day took indexes a bit off their highs. The S&P 500 jumped 1.23% and the NASDAQ 1.60%. There was decent economic news out of Europe which also helped the mood.Continue reading
Monday’s action in the indexes is more typical of how a bull market rally behaves; early selling is met with a rush of buyers. After a quick open to the downside buyers jerked the indexes up immediately and a steady stream of buying came in all day. The S&P 500 gained 0.91% and the NASDAQ 1.35%. A dearth of news was probably a good thing today. After the bell all eyes were on Apple which had a nice report.Continue reading
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The market had one of its worst session of the year a day after having the best one in a year. Yesterday we wrote this:
If momentum can continue a mid day sharp reversal as we had today could be a turning point. The next few sessions will be important to watch.
Well it didn’t take a few sessions, we saw our answer in one session. And it was not good news. The S&P 500 sunk 2.07% and the NASDAQ 2.02%. Bad news from Europe continued to pile up: data showed a 5.8% drop in German exports in August, adding to downbeat numbers that had German industrial orders and output falling as well. Stocks furthered their losses after European Central Bank President Mario Draghi said there are indications that the euro zone’s economic growth is slowing and that central bankers should strive to boost inflation.Continue reading
Indexes opened flat Thursday but sold off quite sharply in the morning before deeply oversold conditions led to a decent bounce to finish back near the unchanged line. The S&P 500 was fractionally higher while the NASDAQ gained 0.18%. We will have the monthly employment data premarket tomorrow so that should sway tomorrow’s mood. Some of the morning selling could be attributed to EuropeContinue reading
Thursday was a quite rotten day in the market as we saw broad selling and the market’s big cap leader in Apple (AAPL) get taken to the woodshed. Indexes opened negative and they sold off through the entire morning and then flat lined the rest of the session. The S&P 500 fell 1.62% and the NASDAQ 1.94%. Helping to unnerve investors was a report that Russian lawmakers drafted legislation that would allow the government to seize foreign assets. In economic news, demand for all durable goods slumped a record 18.2%.Continue reading
After opening mixed and holding in a tight range in the morning, indexes sold off in the afternoon to close at session lows. The S&P 500 fell 0.58% and the NASDAQ 0.42%. Most of the negative energy right now is coming from overseas where data out of Europe and China was not that promising.Continue reading
Indexes sold off relatively strongly Monday; the opened down at the open as some comments out of China indicated no new easing would becoming from the government and never really mounted any serious rally intraday. If you recall in one of our recaps last week we had noted some thought the Chinese would be doing some new stimulus. The S&P 500 fell 0.80% and the NASDAQ 1.14%. In economic news existing home sales fell 1.8 percent in August, far from the growth of 1 percent that had been expected.Continue reading
After a drop this morning pushed the S&P 500 to some key support we saw dip buyers jump in but at a relatively modest pace; the NASDAQ was stronger as the very severe Apple influence weighed on it. Economic news continues to be very light this week after last week’s onslaught. The S&P 500 added 0.36% and the NASDAQ 0.75%.Continue reading