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Stocks closed higher on the day and week, with the Dow Jones Industrial Average posting its first six-session string of gains in more than four months. However, price action was restrained on light trading volume ahead of the three-day Easter holiday. Gains were also limited by anticipation about Friday's monthly employment report, which is likely to influence trading early next week.
Continue reading "Daily Market Brief for April 05, 2007" »
Stocks rose slightly after a raft of economic reports - on the service-sector, employment and factory orders - came in weaker than expected and tempered an earlier boost from falling crude oil prices. Investors eyed lower oil prices and weaker than expected reports.
Continue reading "Daily Market Brief for April 04, 2007" »
Stocks rallied broadly lifting the Dow Jones Industrial Average by nearly 130 points to a five-week high, as investors cheered a drop in crude oil prices amid easing tensions between the UK and Iran, and with sentiment also lifted by a rise in pending homes sales in February. It is evident that if there is any good news on housing, the market is going to rally because sub-prime-driven volatility has been the big boogeyman for the market.
Continue reading "Daily Market Brief for April 03, 2007" »
Stocks closed slightly higher as a raft of deals, including a $29 billion leveraged buyout of First Data Corp. (NYSE: FDC), weighed against a weak manufacturing report and high oil prices. While the news of mergers and other equity deals indicated that there's still a lot of money out there, the ISN numbers were a disappointment.
Continue reading "Daily Market Brief for April 02, 2007" »
Stocks finished a volatile session on a mixed note mirroring a likewise volatile and mixed performance for the first quarter, with the Dow Jones Industrial Average now in negative territory for the year so far, while other stock proxies hold on to meager gains. The market initially took a sharp downturn after news that the U.S. has imposed trade sanctions on China and as tensions over a stand-off between Iran and the UK kept oil prices near $66 a barrel.
Continue reading "Daily Market Brief for March 30, 2007" »
Stocks threw off losses to close higher. They were bolstered by news of an unexpected upward revision to fourth-quarter growth as investors looked past a rise in crude oil prices above $66 a barrel. It is evident that the process of rallies and pull-backs would continue for some months.
Continue reading "Daily Market Brief for March 29, 2007" »
Stocks pared losses but still ended lower after the chairman of the Federal Reserve reiterated concerns about inflation and disappointed investors hoping that weaker growth would soon push the Fed closer to cutting interest rates. Federal Reserve Chair Ben Bernanke said the U.S. economic outlook has become more uncertain in recent weeks, reviving recession worries.
Continue reading "Daily Market Brief for March 28, 2007" »
Stocks closed lower as concerns about the stumbling housing market and the economy resurfaced after an uncertain outlook from homebuilder Lennar Corp (NYSE: LEN) showed widespread drops in home prices. The weak profit report revived worries about the housing sector and a big drop in consumer confidence fed concerns about the broader economy.
Continue reading "Daily Market Brief for March 26, 2007" »
Stocks reduced their losses to close mixed after investors took heart from the close of crude futures below $63 a barrel and some positive brokerage talk about technology bellwethers like eBay Inc. (Nasdaq: EBAY) and Dell Inc (NYSE: DELL). Earlier in the session, stocks dropped sharply after news that sales of new homes unexpectedly fell to a 7 year low in February, fueling concerns that the stumbling housing market might derail economic growth. However, gains in technology and commodities offset the impact of the weak read on new home sales.
Continue reading "Daily Market Brief for March 26, 2007" »
Stocks closed slightly higher as investors rested on strong weekly gains that came on hope that the Federal Reserve has moved closer to cutting interest rates should the economy weaken too much. News that existing home sales rose also helped soothe immediate concerns about the housing market. However, worries about rising oil prices limited gains.
Continue reading "Daily Market Brief for March 23, 2007" »
Stocks closed mixed and little changed as investors consolidated strong gains from the previous session, when the Federal Reserve left interest rates unchanged but opened the door for possible rate cuts later this year. The tepid action came a day after markets rallied on hopes the Fed will cut rates and stave off a housing-led hard-landing for the economy. However, concern about the sub-prime mortgage market resurfaced as banking regulators were grilled about the issue in the Senate.
Continue reading "Daily Market Brief for March 22, 2007" »
Stocks rallied and lifted the Dow Jones Industrial Average by over 160 points, after the Federal Reserve left interest rates unchanged as expected, but also opened the door for the central bank to consider risks to the economy on an equal footing with inflation risks. The Fed no longer said that data are suggesting firmer economic growth, instead describing those indicators as mixed. It also dropped a previous reference that additional firming of monetary policy may be needed. This implies that the central bank is more likely to cut rates than raise them anytime soon.
Continue reading "Daily Market Brief for March 21, 2007" »
Stocks rose today, boosted by merger news and speculation that more deals were in the works, which helped offset caution in the market as the Federal Reserve's two-day meeting on interest rates got underway. Return of deals is a sign that confidence is returning to the marketplace. Investors welcomed a strong report on housing and the start of the two-day Federal Reserve policy meeting.
Continue reading "Daily Market Brief for March 20, 2007" »
Stocks rallied, lifting the Dow Jones Industrial Average by over 100 points, as a boost from Asian and European markets overnight and a flurry of deals -- including talk of a big merger between two European banks -- helped investors set aside recent concerns about the sub-prime mortgage market. The advance was pretty broad-based, thanks to a slew of corporate deals. Investors are also gearing up for the start of the two-day Federal Reserve policy meeting.
Continue reading "Daily Market Brief for March 19, 2007" »
Stocks fell and posted losses for the week, as investors seeking stability after a volatile week weighed news of rising consumer prices in February, which dimmed hopes that the Federal Reserve can cut interest rates to give the economy a needed boost. Investors have been hoping that Fed, will soon cut rates to prevent a drying up of liquidity in the financial system, as fear of a credit crunch were fueled by the meltdown of the sub-prime mortgage market. Rate cuts have been taken out of the near term picture because of the inflation number.
Continue reading "Daily Market Brief for March 16, 2007" »
Stocks closed higher as investors found comfort in the market's ability to bounce back from recent heavy losses, helping them ignore data pointing to both waning economic growth and rising inflation. The market had come down so far that it got a little oversold and we're also in the middle of options expirations. Tomorrow's quadruple witching expiration of options on stocks and bonds forced a lot of investors to buy back shares. Merger news and strength in the financial sector overshadowed concerns about sub-prime mortgages.
Continue reading "Daily Market Brief for March 15, 2007" »
Stocks closed in positive territory after a volatile session that can be described as technically-driven and tested by more evidence of the meltdown in the sub-prime mortgage market. The sub-prime is unfolding in a worse way than was expected, but trading was more technical than fundamental.
Continue reading "Daily Market Brief for March 14, 2007" »
Stocks sank and caused the Dow Jones Industrial Average to give up 242 points, as the rising tide of problems in the sub-prime mortgage market spurred fear of contagion across the whole financial sector, while weaker-than-expected retail sales confirmed a slowing economic outlook. The downturn accelerated in the early afternoon after news that a number of homeowners were unable to meet mortgage payments and were entering the foreclosure process.
Continue reading "Daily Market Brief for March 13, 2007" »
Stocks closed higher as fresh concerns over the sub-prime lender market failed to lead to heavy losses and a batch of big mergers helped to give investors an upbeat tone. Market found some momentum owing to the deals news and lower oil prices.
Continue reading "Daily Market Brief for March 12, 2007" »
Stocks rose today, posting gains for a volatile trading week after a report of limited jobs growth in February helped ease concerns about a slowdown in the economy but raised fears that inflation might prevent the Federal Reserve from cutting interest rates as early as expected.
Continue reading "Daily Market Brief for March 09, 2007" »
Stocks closed sharply higher after strong gains in global stock markets fed hopes that equities have stabilized after recent massive sell-offs, overshadowing disappointment with February sales from the nation's retailers. However, the gains were pared a bit near the session's end, as investor's worried about the financial sector and some jitters ahead of Friday's monthly jobs report.
Continue reading "Daily Market Brief for March 8, 2007" »
Stocks rallied and lifted the Dow Jones Industrial Average by over 150 points, as investors extended a recovery in Asian markets and the dollar overnight, spurred hopes that markets can regain a portion of the massive losses suffered over the past week. The Dow was pushed to its biggest gain in more than eight months.
Continue reading "Daily Market Brief for March 06, 2007" »
Stocks closed lower, giving up fragile gains seen among blue-chips, as bargain-hunters were unable to offset pressure from fresh woes in global markets overnight and concerns in the distressed sub-prime mortgage market. Nasdaq was hit the hardest, as investors continued to bail out of equities.
Continue reading "Daily Market Brief for March 05, 2007" »
Stocks closed lower with the Dow Jones Industrial Average posting its largest weekly percentage decline since March 2003, as the Japanese yen's rally against the dollar and more bad news for mortgage lenders fueled the anxiety that sent stocks sliding all week. Stocks fell for the third time in four sessions on worries about global growth prospects - capping the worst week in 4 years for U.S. markets. Technology and energy companies were especially hard-hit on the day.
Continue reading "Daily Market Brief for March 02, 2006" »
Stocks fell even as they recovered from an early steep fall, as upbeat news about the manufacturing sector helped in morning trade, but couldn't completely offset continued nervousness about Asian markets, distressed lenders, and the economy. However, the declines were minimal as investors showed their mettle.
Continue reading "Daily Market Brief for March 01, 2006" »
Stocks rallied and rebound from their biggest one-day point drop in over five years in the previous session, although the major averages all closed lower on the month. Investors found comfort in a partial recovery of the Shanghai stock market, and soothing words from Federal Reserve Chairman Ben Bernanke.
Continue reading "Daily Market Brief for February 28, 2007" »
Stocks plunged to their worst one-day performance since 2001, with the Dow Jones Industrial Average losing 200 points in one minute around 3 p.m. before recovering some ground by the close, after a sell-off in China fueled concerns about growth. Stocks tumbled across the board, after declining global markets and a steep drop in durable goods orders triggered a massive sell-off on Wall Street. Trying to limit the declines, the NYSE said it imposed trading curbs as of 1:03 p.m. ET, around the time the Dow slipped 200 points.
Continue reading "Daily Market Brief for February 27, 2007" »
Stocks fell as concerns about growth resurfaced with oil prices holding above $61 a barrel, dampening investor enthusiasm and offsetting the latest deal-making news, including the $45 billion takeover of TXU Corp (NYSE: TXU). Blue chips fell for the fourth session in a row, as investors opted to bail out of a variety of sectors.
Continue reading "Daily Market Brief for February 26, 2006" »
U.S. stocks closed lower, putting in a mixed performance for the week, amid heightened jitters about the sub-prime mortgage market, rising oil prices and a court ruling against Microsoft Corp (Nasdaq: MSFT). Investors are displaying signs of stress and fatigue and they're locking in profits as they become more concerned about the market being at high levels. The Dow Jones industrial average down for the third straight session, as investors focused on higher oil and gold prices.
Continue reading "Daily Market Brief for February 27, 2006" »
Stocks closed mixed with the broad market weighed down after the United Nations' nuclear watchdog said Iran had failed to meet a deadline to stop nuclear enrichment, but with tech shares making a late comeback on upbeat news for several stocks. The Dow Jones industrial average slumped for a second session, amid rising oil prices, and a jump in Treasury bond yields.
Continue reading "Daily Market Brief for February 22, 2007" »
Stocks closed mixed on being hit by a disappointing earnings outlook from Hewlett-Packard Co. (NYSE: HPQ) and news that consumer prices rose more than expected in January, which fueled concern about inflation. However, minutes from the Federal Reserve's last meeting on interest rates, showed that the Fed wasn't overly concerned about inflation at the end of January, and somewhat soothed the market's worries.
Continue reading "Daily Market Brief for February 21, 2006" »
Stocks rose and sent the Dow Jones Industrial Average to a record closing level, as reassuring comments from Federal Reserve Governor Susan Bies, along with upbeat results from Wal-Mart Stores Inc. (NYSE: WMT) and merger news, helped offset disappointing earnings from Home Depot Inc (NYSE: HD).
Continue reading "Daily Market Brief for February 20, 2006" »
Stock indexes logged gains of over a percent for the week, with the Dow scraping out a third record high close amid otherwise mixed markets as investors consolidated gains ahead of a three-day weekend. However, data suggested economic weakness, including a big drop in housing starts, falling consumer confidence and a cautious outlook from Microsoft Corp (Nasdaq: MSFT).
Continue reading "Daily Market Brief for February 16, 2007" »
Stocks closed higher, with the Dow Jones Industrial Average setting another record high, bolstered by Caterpillar Inc.'s (NYSE: CAT) share buyback and another spate of merger news. Investors eyed mixed economic news, a rebound in oil prices and the conclusion of Fed chief Ben Bernanke's two days of congressional testimony.
Continue reading "Daily Market Brief for February 15, 2007" »
Stocks rallied and pushed the Dow Jones Industrial Average to a record close as investors cheered soothing words from Federal Reserve Chairman Ben Bernanke on inflation. The market also welcomed upbeat earnings from Applied Materials Inc. (Nasdaq: AMAT) and discussion of a restructuring at DaimlerChrysler Corp (NYSE: DCX). Bernanke spoke of inflation moderating, that unemployment won't be a problem and that there are tentative signs of housing stabilizing.
Continue reading "Daily Market Brief for February 14, 2007" »
Stocks rallied to a sharply higher close with the Dow Jones Industrial Average gaining 100 points after a report Alcoa Inc. (NYSE: AA) may be a takeover target and news that 3M Co. (NYSE: MMM) plans a large stock buyback. Investors saw strength across the board, with a rebound in commodity shares and an upgrade of GM (NYSE: GM).
Continue reading "Daily Market Brief for February 13, 2007" »
Stocks closed lower as disappointing deal news and uncertainty over Federal Reserve Chairman Ben Bernanke's testimony to Congress later this week offset the boost an Apple Inc. (Nasdaq: AAPL) upgrade and a strategic move announced by Home Depot Inc (NYSE: HD). News that the Nasdaq Stock Market (Nasdaq: NDAQ) is abandoning its bid for the London Stock Exchange, also dented sentiment, somewhat offsetting the usual boost from Monday-merger news. It looks like the market is in need of more of a corrective move.
Continue reading "Daily Market Brief for February 12, 2007" »
Stocks closed lower on the day and week, dented by a rise in crude futures, hawkish remarks by Federal Reserve officials leaving open the possibility of more rate hikes and concern by Micron Technology (Nasdaq: MU) executives about memory chip demand and pricing. These worries overshadowed new upgrades of Ford Motor Co. (Nasdaq: F) and General Motors Corp (NYSE: GM).
Continue reading "Daily Market Brief for February 09, 2007" »
Stocks closed lower even as late gains in technology and energy contained losses for the broad market, after HSBC Holdings (NYSE: HBC), the world's third largest bank, warned that bad debts were on the rise in the U.S. The downtrend was possibly a reaction to the negative news coming out HSBC. Investors mulled January retail sales, higher oil prices and revived worries about the impact of the slowdown in the housing market.
Continue reading "Daily Market Brief for February 08, 2007" »
Stocks closed slightly higher, with the Dow Jones Industrial Average barely finishing in positive territory after hitting a new record high, as a drop in crude-oil prices weighed on the energy sector, while the technology sector remained boosted by Cisco Systems Inc.'s (Nasdaq: CSCO) upbeat earnings. Investors have now to look at where the next good news is coming from.
Continue reading "Daily Market Brief for February 07, 2007" »
Stocks closed slightly higher as crude oil prices failed to reach $60 a barrel, lifting overall sentiment and offsetting earlier weakness in the technology sector. Investors appear to be waiting for news from Cisco (Nasdaq: CSCO) due later after market close.
Continue reading "Daily Market Brief for February 06, 2007" »
Stocks closed mixed with better-than-expected sales at Wal-Mart Stores Inc. (NYSE: WMT) providing mild support for the Dow Jones Industrial Average, while a bearish report on Microsoft Corp. (Nasdaq: MSFT) weighed on the stock and the technology sector. With fourth-quarter earnings season winding down, investors were also contemplating the market's recent advance. The slew of merger news could not give boost to the market.
Continue reading "Daily Market Brief for February 5, 2007" »
Stocks closed mixed Friday but chalked up gains for the week, after a weaker-than-expected January employment report eased investor concern about inflation but weighed on economically-sensitive stocks on the Dow Jones Industrial Average. Often short-term traders try to catch some profit and today's down trend can be attributed to that.
Continue reading "Daily Market Brief for February 02, 2007" »
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