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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" »
Stocks closed higher sending the Dow Jones Industrial Average to a record close, as optimism about a cooler-than-expected reading on inflation, together with falling crude oil prices, offset disappointing earnings from a few companies. The market's advance was slightly dented by news that the manufacturing sector contracted in January. However, the primary overhang in the market recently has been concerns over faster-than-expected economic growth leading to inflation and putting upwards pressure on interest rates.
Continue reading "Daily Market Brief for February 01, 2007" »
Stocks leaped with the Dow Jones Industrial Average posting its best day of the year after the Federal Reserve left interest rates unchanged and indicated that inflation remains under control, easing concerns the central bank might have to raise interest rates. Interpretation that inflation is moderating, while there's a pick up in the economy, should all be good for equities.
Continue reading "Daily Market Brief for January 31, 2007" »
Stocks closed higher, benefiting from rallying oil prices and energy shares that helped offset the caution ahead of a Federal Reserve interest rate decision. The market held up pretty well considering the big stocks that are down after reporting a now familiar pattern of okay earnings and lackluster guidance. It's likely that we will stay around current levels until we can get a sense of where the economy's headed and what the Fed will do.
Continue reading "Daily Market Brief for January 30, 2007" »
Stocks finished mixed after investors behaved cautiously in the face of sliding crude oil prices, a flurry of merger developments, and technology innovations from chip-making companies Intel Corp. (Nasdaq: INTC) and IBM (NYSE: IBM). This is a heavy week with lots of earnings, economic data, and the Federal Reserve meeting. Any of these can move the market, so it is likely to remain choppy until investors can get a grip on the overall picture."
Continue reading "Daily Market Brief for January 29, 2007" »
Stocks closed mixed as investors showed renewed interest in technology shares, while the broad market remained under pressure and posted weekly losses amid caution about rising long-term interest rates in the bond market. Worries about higher interest rates overshadowed the day's corporate news, including upbeat earnings from Microsoft (Nasdaq: MSFT) and Caterpillar (NYSE: CAT), weaker results from Amgen (Nasdaq: AMGN) and a Citigroup (NYSE: C) downgrade of Cisco Systems (Nasdaq: CSCOT).
Continue reading "Daily Market Brief for January 26, 2006" »
Stocks closed sharply lower with the Dow Jones Industrial Average suffering its worst day of the year so far, as investors were shaken by a sell-off in the bond market, which sent long-term interest rates to five-month highs and fueled jitters about the housing market and the economy. The weak housing report added fuel to the fire.
Continue reading "Daily Market Brief for January 25, 2007" »
Stocks rallied and lifted the Dow Jones Industrial Average to a new record and its best day of the year as the technology sector charged higher on the back of positive news from Yahoo Inc. (Nasdaq: YHOO) and Sun Microsystems Inc (Nasdaq: SUNW). These earnings tempered worries about technology sector earnings.
Continue reading "Daily Market Brief for January 24, 2007" »
Stocks closed higher reclaiming some ground from a sell-off in the previous session, as solid results from Texas Instruments (NYSE: TXN) helped soothe investor concerns about technology stocks. The Dow and S&P 500 rose, while the Nasdaq was little changed, as investors struggled to absorb a nearly 5% jump in oil prices.
Continue reading "Daily Market Brief for January 23, 2007" »
Stocks closed sharply lower with the Dow Jones Industrial Average losing more than 100 points at its worst level and the Nasdaq Composite down further as sentiment towards the technology sector soured after disappointing earnings last week. A slide in oil prices following a morning advance failed to reassure investors, amid ongoing concerns that energy prices could further rebound.
Continue reading "Daily Market Brief for January 22, 2007" »
Stocks finished mixed on the day and for the week, with the broad market little changed but technology shares posting steep weekly losses, after IBM's (NYSE: IBM) earnings forecast failed to live up to investor expectations, further souring sentiment towards the tech sector. A number of better than expected results from several blue chip stocks failed to push the Dow higher, as Wall Street was hesitant to take a position at the start of the earnings season.
Continue reading "Daily Market Brief for January 19, 2007" »
Stocks closed lower after an earnings forecast from technology icon Apple Inc. (Nasdaq: AAPL) disappointed investors, weighing heavily on shares throughout the tech sector. The Nasdaq composite slumped for a second straight session amidst worries about the strength of technology earnings in the just-completed fourth quarter.
Continue reading "Daily Market Brief for January 18, 2006" »
Stocks ended lower after the Dow Jones Industrial Average backed off an all-time high and technology sector weakness linked to Intel Corp. (Nasdaq: INTC) offset strong results from financial giant J.P. Morgan Chase (NYSE: JP). The tech sell-off sank the Nasdaq composite and forced the Dow Jones industrial average to give up its attempt at closing at a record high for the fourth straight session.
Continue reading "Daily Market Brief for January 17, 2007" »
Stocks closed mixed after investors digested in-line earnings results from Wells Fargo & Co. (NYSE: WFC) and a weak forecast from Symantec Corp. (Nasdaq: SYMC), while energy shares weighed amid a continued slide in crude oil prices. Blue chips got a lift on lower oil prices and techs slid ahead of Intel's quarterly report, expected after the close.
Continue reading "Daily Market Brief for January 16, 2007" »
Stocks closed at sharply higher levels, sending the Dow Jones Industrial Average to a record close, as investors shrugged off recent jitters about global markets and commodities, leaving room for the market to focus on earnings and the technology sector.
Continue reading "Daily Market Brief for January 11, 2006" »
Stocks closed higher with investors looking past a sell-off in oil and commodities to focus on strength in the technology sector and Alcoa Inc.'s (NYSE: AA) strong kick-off to the fourth-quarter earnings season. The general sentiment is that the market has overshot on the way down and would rebound strongly.
Continue reading "Daily Market Brief for January 10, 2006" »
Stocks closed mixed on with a continued slide in crude oil prices weighing on the broad market but with technology shares receiving a bid after Apple Computer Inc. (Nasdaq: AAPL) unveiled its new iPhone device. However, the inability of the market to perform better given the significant decline in energy is somewhat disheartening. This is not a great sign for the overall health of the market.
Continue reading "Daily Market Brief for January 09, 2006" »
Stocks reversed early weakness to close higher as comments by a Federal Reserve official helped soothe recent concerns about the economy and Fed policy, while optimism about the technology sector helped offset concerns about the upcoming earnings season. Investors welcomed lower oil prices, a spate of mergers and some bullish analyst comments on the technology sector.
Continue reading "Daily Market Brief for January 8, 2006" »
Stocks ended sharply lower on the day and mixed on the shortened three-day trading week after news of surprising strength in the labor market in December fueled concerns that the Federal Reserve won't cut interest rates anytime soon. A downgrade of Intel Corp. (Nasdaq: INTC) and a profit-warning from Motorola Inc. (NYSE: MOT) also weighed on the technology sector. The jobs number has the market scared to some extent, as they had been happy with the recent weak numbers.
Continue reading "Daily Market Brief for January 05, 2007" »
Stocks closed mixed on after taking a tumble and drastically reversing a strong morning performance, as the minutes from the Federal Reserve's latest meeting on interest rates revived concerns about U.S. growth while giving little ammunition for those hoping for rate cuts. Worries about the economy and inflation deflated attempts at extending the 2006 rally.
Continue reading "Daily Market Brief for January 03, 2007" »
Stocks finished the year with strong gains with all three major stock averages booking their best performance since 2003. However, for the day, the investors backed off a bit at the end of an upbeat quarter. Markets will be closed Monday for New Year's Day and Tuesday for the national day of mourning for President Ford, marking a rare four-day closure for U.S. trading.
Continue reading "Daily Market Brief for December 29, 2006" »
Stocks closed mildly lower after the Dow Jones Industrial Average managed to set a new intraday high, as the brunt of selling pressure seen earlier in the day disappeared ahead of the final trading day of the year. The market earlier was hurt by concerns about strong data forcing the Federal Reserve to keep rates high. However, the declines were minimal one day after the Dow Jones industrial average hit its highest close ever and one day before the end of a strong year on Wall Street.
Continue reading "Daily Market Brief for December 28, 2006" »
Stocks closed higher after investors made a beeline for shares that dropped to attractive prices during last week's sell-off, although Amazon.com Inc. (Nasdaq: AMZN) and other retailers were pressured by concerns about the strength of holiday shopping sales. However, falling oil prices helped offset a weak report on holiday retail sales.
Continue reading "Daily Market Brief for December 26, 2006" »
Stocks closed lower and booked losses for the week, after a key economic report on orders of big ticket items fueled concerns about growth, offsetting upbeat earnings from Blackberry maker Research in Motion Ltd. (Nasdaq: RIMM) and software producer Red Hat Inc (Nasdaq: RHAT). The data also gave investors a chance to book profits ahead of the long Christmas holiday weekend, while low volumes exaggerated the market's moves.
Continue reading "Daily Market Brief for December 22, 2006" »
Stocks closed lower as investors reacted to a weaker than expected regional manufacturing survey and a downward revision of third quarter economic growth, which offset positive momentum from deal making by Raytheon Co. (NYSE: RTN) and Glaxo Smithkline Plc (NYSE: GSK). The weakness can be attributed to a combination of economic weakness combined with the malaise befalling the market as we approach the holidays.
Continue reading "Daily Market Brief for December 21, 2006" »
Stocks pared earlier gains to close lower as a sell-off in natural gas reversed the early positive momentum from a flurry of merger news. The drop in oil brought down the entire energy sector, weighing on the broader market and leaving the averages mostly unchanged on the day.
Continue reading "Daily Market Brief for December 20, 2006" »
Stocks finished mixed with the Dow Jones Industrial Average at a new record close, as higher crude oil prices lifted energy stocks, offsetting earlier weakness sparked by a surprise rise in producer prices and disappointing results from Oracle Corp (Nasdaq: ORCL). The turmoil in Thailand did not affect the markets.
Continue reading "Daily Market Brief for December 19, 2006" »
Stocks closed lower as investors took profit on recent gains, notably in technology shares, offsetting the boost from an upgrade of Citigroup Inc (NYSE: C) and more merger news, including two leveraged buyouts. A slide in crude oil prices also weighed on energy shares and capped gains for the broader market.
Continue reading "Daily Market Brief for December 18, 2006" »
Stocks closed higher for the day and the week as the Dow Jones Industrial Average set another record high close, after hopes of a Goldilocks economy and an interest rate cut in 2007 were revived by an unchanged reading on consumer inflation. The mild read on consumer prices have furthered bets that inflation is easing.
Continue reading "Daily Market Brief for December 15, 2006" »
Stocks closed sharply higher with the Dow Jones Industrials Average setting a record close, after positive forecasts from some household names helped investors shrug off an upcoming cut in oil output. Upbeat earnings from the banking sector, a drop in jobless claims and a rebound in technology added to the cheer.
Continue reading "Daily Market Brief for December 14, 2006" »
Stocks closed with faint gains after rising crude oil prices tempered positive reaction to stronger-than-expected retail sales in November. This eased concerns about the extent of a slowdown in the economy. Investors showed caution amid rising oil prices and Treasury yields.
Continue reading "Daily Market Brief for December 13, 2006" »
Stocks closed lower after the Federal Reserve noted a "substantial cooling" in the housing market but also kept its emphasis on inflation fighting in the statement accompanying its decision to leave interest rates unchanged. While some market participants hoped the Fed might open the door for eventual rate cuts next year, policymakers maintained a bias towards more tightening as they still see inflation as a risk.
Continue reading "Daily Market Brief for December 12, 2006" »
Stocks closed higher after flurry of merger news. However, investors limited the gains in a sign of caution one day ahead of a Federal Reserve decision on interest rates. While a rising dollar helped lower crude oil prices, the positive impact on sentiment was offset by declining energy shares.
Continue reading "Daily Market Brief for December 11, 2006" »
Stocks closed higher posting a weekly gain, as investors digested a slightly stronger-than-expected November jobs report, and bought recently battered shares in the technology sector. The jobs report eased worries about the slowing economy, but investors couldn't muster much momentum ahead of next week's Federal Reserve meeting.
Continue reading "Daily Market Brief for December 8, 2006" »
Stocks closed lower as optimism about a drop in weekly jobless claims was offset by weakness in the technology sector, sparked by speculation that Apple Computer Inc. (Nasdaq: AAPL) will delay the release of its iPhone device. Stocks lost ground in the tech sector and the broad market, where an absence of catalysts left investors mostly sidelined, but many investors seem to be waiting to see tomorrow's data on U.S. employment growth.
Continue reading "Daily Market Brief for December 7, 2006" »
Stocks closed lower as the market took a break from its recent advance, with Yahoo Inc. (Nasdaq: YHOO) in focus after a management shakeup and concerns ahead of the November jobs report.
Continue reading "Daily Market Brief for December 6, 2006" »
Stocks closed higher after data showed service-sector growth improving in November, while inflation was weaker than expected in the third quarter, fueling hopes of a soft landing for the U.S. economy. The Standard & Poor's 500 got pushed to a fresh 6 year high and lifted the Dow Jones industrial average to within shouting distance of a new record close.
Continue reading "Daily Market Brief for December 5, 2006" »
Stocks closed higher as positive momentum from a flurry of mergers, including a mega deal in the banking sector, offset bad news for Pfizer Inc (NYSE: PFE). The S&P 500 touched a fresh six-year high, as investors welcomed a slump in oil prices.
Continue reading "Daily Market Brief for December 04, 2006" »
Stocks fell after a report showed the U.S. manufacturing sector contracted in November, fueling fears of a hard landing for the U.S. economy. Additionally, crude oil prices that closed above $63 a barrel also added to the selling pressure. But as has been seen in recent sessions, stocks pared their losses in the final hour but finished the session in negative territory.
Continue reading "Daily Market Brief for December 1, 2006" »
Stocks closed little changed today but sharply higher on the month. Today's session featured early weakness caused by soft economic data and disappointing retail sales as well as a late-session spurt of buying. Investors were unwilling to make any decisive moves amid higher oil prices and a big rally in the bond market.
Continue reading "Daily Market Brief for November 30, 2006" »
Stocks rallied to close higher after the third-quarter economic growth was revised higher and inflation was revised lower. Additionally, Intel Corp. (Nasdaq: INTC) and Verizon Communications (NYSE: VZ) provided support following positive broker comment. The release of the Federal Reserve's "beige book' survey of economic conditions also comforted investors about the economy.
Continue reading "Daily Market Brief for November 29, 2006" »
Stocks closed higher on as investors digested a spate of economic data and remarks from Federal Reserve Chairman Ben Bernanke and came back to the market following yesterday’s sharp losses. However, worries about the economy and a run up in oil prices kept investors on edge.
Continue reading "Daily Market Brief for November 28, 2006" »
Black Monday followed the Black Friday, with stocks slumping and the Dow industrials posting its biggest one-day percentage drop since July. Despite positive preliminary results from the holiday shopping season kickoff, investors eyed higher oil prices, a weaker dollar and a cautious outlook from Wal-Mart (NYSE: WMT) and decided to head for the exits. Additionally, jitters about the slew of economic news due later this week weighed as well, as did a sense that the recent rally was due for a pullback.
Continue reading "Daily Market Brief for November 27, 2006" »
Stocks closed early with minor losses on the day and mixed on the week with investors monitoring a sharp decline in the U.S. dollar and awaiting news about consumer activity as the holiday-shopping season got under way. All financial markets were closed yesterday for Thanksgiving, and the stock markets closed at 1 p.m. today - 3 hours early.
Continue reading "Daily Market Brief for November 24, 2006" »
Stocks closed slightly higher as a big drop in crude oil prices and better than expected earnings from Dell Inc. (NYSE: DELL) offset an unexpected drop in consumer confidence. The Nasdaq composite surged to its highest point in nearly six years, but the blue-chip averages meandered the day before Thanksgiving, with investors distressed by a slump in GM (NYSE: GM) shares on news that one of its major shareholders has shed stock.
Continue reading "Daily Market Brief for November 22, 2006" »
Stocks closed higher with gains by Alcoa Inc. (NYSE: AA), Caterpillar Inc. (NYSE: CAT) and Boeing Co. (NYSE: BA) supporting the Dow Jones Industrial Average and helping offset higher crude prices and light volumes ahead of Thursday's Thanksgiving holiday. The Nasdaq composite and S&P 500 managed to carve out fresh multi-year highs.
Continue reading "Daily Market Brief for November 21, 2006" »
Stocks closed mixed with the Dow Jones Industrial Average snapping a six-day winning streak, as waning forward momentum led to selling pressure. A spate of mega-merger news, including Freeport-McMoRan Copper & Gold's (NYSE: FCX) $26 billion deal for Phelps Dodge Corp. (NYSE: PD), the Blackstone Group bid $20 billion to take Equity Office Properties Trust (NYSE: EOP), and many more kept the day interesting.
Continue reading "Daily Market Brief for November 20, 2006" »
Stocks closed mixed as the Dow Jones Industrial Average extended its winning streak to a sixth session and set yet another record high, bolstered by a continued slide in crude-oil prices. The S&P 500 finished above 1,400 for the first time in more than six years.
Continue reading "Daily Market Brief for November 17, 2006" »
Stocks closed higher with the Dow Jones Industrial Average finishing at another record high level, as tame consumer-price inflation and a big drop in crude oil prices helped offset bad news from Applied Materials Inc. (Nasdaq: AMAT) and Dell Inc (NYSE: DELL).
Continue reading "Daily Market Brief for November 16, 2006" »
Stocks rose with the Dow Jones Industrial Average stretching to a fresh record close after surprising strength in a regional survey eased economic worries, with further help from news of a possible merger in the airline sector. Traders weighed the minutes of the latest Federal Reserve meeting on interest rates that showed central bankers were less worried about the housing market's impact on the economy and still had concerns about inflation. Investors welcomed further signs that the economy is slowing at a moderate pace, and not heading for recession.
Continue reading "Daily Market Brief for November 15, 2006" »
Stocks staged a late rally as gains for Wal-Mart Stores Inc. (NYSE: WMT), Home Depot Inc (NYSE: HD) and Intel Corp. (Nasdaq: INTC) boosted the Dow Jones Industrial Average to a fresh all-time high. Investors welcomed a tame PPI report although many are looking ahead to consumer-price data they hope will confirm the signs of an easing inflationary trend.
Continue reading "Daily Market Brief for November 14, 2006" »
Stocks closed higher as concerns over slowing growth eased after a Fed official said the economy was growing "forcefully," with Intel Corp. (Nasdaq: INTC) a notable gainer after broker Citigroup (NYSE: C) upgraded the semiconductor sector. A decline in the price of oil further boosted market sentiment. Tech stocks rallied pushing the Nasdaq composite to its highest close in nearly six years.
Continue reading "Daily Market Brief for November 13, 2006" »
Stocks closed higher on the day and the week after strong financial results from American International Group (NYSE: AIG) and lower crude oil prices offset disappointment with Walt Disney's (NYSE: DIS) latest earnings report. Tech stocks rose while the broader market struggled at the end of an upbeat week on Wall Street. Investors also showed caution amid news of a new direction for Congress.
Continue reading "Daily Market Brief for November 10, 2006" »
Stocks closed lower and snapped a three-session winning streak, felled by weaker than expected consumer sentiment data, higher crude prices and worries about how pharmaceutical and defense companies will fare under a Democratic party dominated Congress. Investors bailed out of drug, telecom and financial stocks, following confirmation that the Democratic Party will control all of Congress for the first time since 1994.
Continue reading "Daily Market Brief for November 9, 2006" »
Stocks ended higher with the Dow Jones Industrial Average setting a new record close, after investors concluded that little market-moving legislation is likely to come out of the new Democratic party-controlled House of Representatives and a Senate whose leadership remains uncertain. The broader market also welcomed the resignation of Defense Secretary Donald Rumsfeld.
Continue reading "Daily Market Brief for November 08, 2006" »
Stocks ended higher as investors awaited the outcome of mid-term congressional elections. Investors welcomed falling Treasury yields, lower oil prices, and Boeing Co. (NYSE: BA) surged more than 5% after the aerospace giant won an important aircraft order.
Continue reading "Daily Market Brief for November 07, 2006" »
Stocks rallied to a sharply higher close and allowed the Dow to break a six-session losing streak. An upbeat Fed official's remarks and a $3.7 billion takeover offer for Four Season Hotels Inc. (NYSE: FS) lent cheer to the market. Additionally, there were a host of corporate deals and as investors geared up for Tuesday's congressional elections.
Continue reading "Daily Market Brief for November 06, 2006" »
Stocks ended lower with the Dow Jones Industrial Average posting its first six-session losing streak since mid-2005, after a surge in long-term interest rates and a spike in oil prices overshadowed a largely positive October jobs report. A pair of strong economic reports and a steep decline in the bond market sparked bets that the Federal Reserve won't cut interest rates anytime soon.
Continue reading "Daily Market Brief for November 03, 2006" »
Stocks ended lower with the Dow Jones Industrial Average taking its fifth loss in a row, hurt by data showing a pick-up in wage inflation and a rise in jobless claims. The Dow industrials have not had a five-session loss since June, 2005. The market was further hurt by Wal-Mart Stores Inc. (NYSE: WMT) and a broker downgrade for Intel Corp. (Nasdaq: INTC) Jitters about Friday's big employment release continue to plague the market.
Continue reading "Daily Market Brief for November 02, 2006" »
Stocks fell today and sent the Dow Jones Industrial Average to its fourth consecutive loss, after a pair of weak economic reports sparked worries about the speed of the economic slowdown, giving investors a reason to retreat from the recent rally. Although strong earnings from MasterCard (NYSE: MA) and Burger King (NYSE: BKC) minimized the gloom, the market also focused on a multibillion-dollar merger between CVS Corp. (NYSE: CVS) and Caremark Rx Inc. (NYSE: CMX).
Continue reading "Daily Market Brief for November 1, 2006" »
Stocks ended mixed after an otherwise strong month for the market as a decline in energy prices and a better-than-expected third-quarter earnings season offered investors their best October in three years. There have been continued worries about the health of the economy to dampen investor sentiment.
Continue reading "Daily Market Brief for October 31, 2006" »
Stocks ended mixed after a tepid sales forecast from Wal-Mart Stores Inc. (NYSE: WMT) added to concerns about slowing economic growth. However, some investors took comfort from a sharp drop in the price of oil and a buoyant tech sector to boost the Nasdaq.
Continue reading "Daily Market Brief for October 30, 2006" »
Stocks ended lower after a weaker-than-expected economic growth report caused investors to break from a recent rally, with the technology sector hard hit by a Goldman Sachs note saying demand for mother boards "is falling off a cliff." However, the prospect that continued weak economic data will prompt the Federal Reserve to lower interest rates kept losses in check.
Continue reading "Daily Market Brief for October 27, 2006" »
Stocks closed higher after a fresh batch of earnings reports from Exxon Mobil Corp. (NYSE: XOM), Comcast Corp (Nasdaq: CMCSA) and others carried the S&P 500 Index to its highest close in about six years. Additionally, falling oil prices and rallying tech shares recharged the rally and pushed the Dow to another record high, and the Nasdaq to its highest point in 5-1/2 years.
Continue reading "Daily Market Brief for October 26, 2006" »
Stocks closed higher as investors found relief in the Federal Reserve's decision to leave interest rates unchanged and its assessment that the economy continues to expand at a moderate pace. Optimism over the quarterly reports from Altria (NYSE: MO) and Amazon (Nasdaq: AMZN) offset disappointment with numbers from Boeing (NYSE: BA) and General Motors (NYSE: GM), and helped send the Dow Jones Industrials Average to yet another all-time high.
Continue reading "Daily Market Brief for October 25, 2006" »
Stocks closed mixed with investors awaiting an upcoming Federal Reserve decision on interest rates, as the Dow set a new closing high amid strong gains for some of its components.
Continue reading "Daily Market Brief for October 24, 2006" »
Stocks rallied to a sharply higher close after plans by Wal-Mart Stores Inc. (NYSE: WMT) to improve profitability at its existing stores sparked a broader market rally, with gains for General Motors Corp(NYSE: GM), 3M Co (NYSE: MMM). and others lending further blue-chip support. The latest round of solid corporate earnings and perhaps some speculative buying, pushed the Dow Jones industrial average up more than 100 points to another record close.
Continue reading "Daily Market Brief for October 23, 2006" »
Stocks ended mixed after a profit warning from Caterpillar Inc. (NYSE: CAT) wrapped up an otherwise largely positive week for quarterly earnings reports. While, the Nasdaq and the S&P rose, Caterpillar dragged the Dow industrials down from record levels.
Continue reading "Daily Market Brief for October 20, 2006" »
Stocks ended higher with the Dow Jones Industrial Average closing above 12,000 for the first time after a raft of upbeat earnings reports led by Apple Computer Inc. (Nasdaq: AAPL), eBay Inc (Nasdaq: EBAY) and the Coca-Cola Co. (NYSE: KO) eased concerns about a slowing economy. This record close came on the 19th anniversary of the stock market crash of 1987, in which the Dow fell 508 points, or 22.6% to 1,738.40.
Continue reading "Daily Market Brief for October 19, 2006" »
Stocks closed mixed with the Dow Jones Industrial Average failing to stay above 12,000, after it smashed through that barrier in early trade as IBM (NYSE: IBM) and Intel (Nasdaq: INTC) posted strong gains. The Dow soared after the latest reports on inflation and the housing market reassured investors. Corporate earnings and another drop in oil prices were also catalysts.
Continue reading "Daily Market Brief for October 18, 2006" »
Stocks ended lower after the latest producer price report reignited inflation fears. However, Johnson & Johnson (NYSE: JNJ) and Merrill Lynch (NYSE: MER) both outperformed the broader market on the back of strong quarterly results. A report showing an improvement in builders' sentiment eased concern about the housing market and helped stocks bounce off their lows for the session. However, troubling economic news overshadowed positive earnings reports and lead to the decline.
Continue reading "Daily Market Brief for October 17, 2006" »
Stocks ended higher with the Dow Jones Industrial Average logging another record close as strong gains for Alcoa Inc (NYSE: AA), Exxon Mobil Corp. (NYSE: XOM) and Merck (NYSE: MRK) among others offset broker downgrades for General Electric Co. (NYSE: GE) and Home Depot Inc. (NYSE: HD). The Dow Jones industrial average came within three points of the 12,000 mark, and closed at a record high for the seventh time in the last 10 sessions. However, gains were modest as rising oil prices and trepidation ahead of a week packed with earnings and economic reports kept some investors on the sidelines.
Continue reading "Daily Market Brief for October 16, 2006" »
Stocks closed higher with the Dow Jones Industrial Average finishing at a fresh record high, capping off a solid week that saw the Nasdaq Composite post a 2.5% gain. Initially, the index was weighed down by uninspiring earnings from General Electric Co. (NYSE: GE) and a broker downgrade for Home Depot (NYSE: HD). However, investors shrugged off these reports and a weak retail sales report to keep the market's recent rally going.
Continue reading "Daily Market Brief for October 13, 2006" »
Stocks rallied on stronger than expected earnings from McDonald's Corp. (NYSE: MCD), Costco Wholesale Corp. (Nasdaq: COST) and Yum Brands Inc (NYSE: YUM), with a batch of new orders for Boeing Co. (NYSE: BA) helping propel the Dow Jones Industrial Average to a new closing high. A favorable Federal Reserve Beige Book survey, showed few signs of increased price pressure, and this provided further support.
Continue reading "Daily Market Brief for October 12, 2006" »
Stocks fell in a session rocked by an aircraft crashing into a building in New York City, disappointment over the near-term interest rate outlook and an inauspicious start to the third-quarter earnings reporting season.
Continue reading "Daily Market Brief for October 11, 2006" »
Stocks ended higher on a fresh drop in oil prices and cautious optimism over the upcoming third quarter earnings season. However, a rise in bond yields and lingering concerns over North Korea gave investors pause for thought. The Dow Jones Industrial average set a new closing record.
Continue reading "Daily Market Brief for October 10, 2006" »
Stocks ended higher with the Nasdaq Composite at its best level in five months, as a Fed official's soothing remarks on inflation, a going-private offer for Cablevision Systems (NYSE: CVC) and a $6 billion deal in the banking sector placed news of North Korea's nuclear test on the back burner.
Continue reading "Daily Market Brief for October 9, 2006" »
Stocks fell today after a mixed jobs report prompted some investors to lock in profits in a week where a slide in oil prices and increasing optimism over the economy propelled the Dow Jones Industrial Average to a new all-time high. The Dow industrials ending its three-day streak of record closes, as investors considered a weak September jobs report and a setback for General Motors (NYSE: GM).
Continue reading "Daily Market Brief for October 6, 2006" »
Stocks ended higher for a third day as a more than 4% gain for Caterpillar Inc. (NYSE: CAT) lifted the Dow Jones Industrial Average to a new all-time record close, and helped offset a fall in shares of Wal-Mart Stores Inc (NYSE: WMT) sparked by weak September sales. Investors also breathed a sigh of relief as oil prices backed off session highs after some traders questioned whether the OPEC will go ahead with a production cut.
Continue reading "Daily Market Brief for October 5, 2006" »
The Dow Jones Industrial Average ended at its second record high in two days Wednesday, and the S&P 500 rallied to its best level in more than 5 1/2 years on increasing optimism that economic growth will continue at a pace that will sustain job creation and corporate profits. The Nasdaq Composite also rose to its best level since May.
Continue reading "Daily Market Brief for October 4, 2006" »
Stocks ended higher with the Dow Jones Industrial Average logging a new record close, after the price of oil slumped to a 14 month low. This raised hopes that falling energy costs will boost consumer spending and moderate any slowdown in the economy.
Continue reading "Daily Market Brief for October 3, 2006" »
Stocks ended lower with weakness in technology shares pacing the decline, while the Dow Jones Industrial Average once again backed off record highs amid a disappointing sales outlook from Wall-Mart Stores Inc (NYSE: WMT). Nervousness over the upcoming third-quarter earnings season also contributed to the pullback, and dented the positive impact of a sharp drop in the price of oil.
Continue reading "Daily Market Brief for October 2, 2006" »
Stocks closed lower today, although the major averages recorded solid quarterly gains due to lower oil prices, allowing the Dow Jones Industrial Average to give its best third-quarter performance in 11 years. A string of economic reports over the last three months also helped investors rally to the idea that U.S. economic growth will moderate, but remain at adequate levels to sustain corporate profits and job creation.
Continue reading "Daily Market Brief for September 29, 2006" »
Stocks posted their fourth straight session of gains, though the Dow Jones Industrial Average stopped a bit short of reaching a fresh closing high. Stocks have continued to rally with investors welcoming falling oil prices, signs that the economy is slowing, not heading for a recession, and relief that the Federal Reserve has halted its interest-rate hiking campaign.
Continue reading "Daily Market Brief for September 28, 2006" »
Stocks gained modestly as crude futures spiked above the $63-a-barrel level and Verizon Communications Inc. (NYSE: VZ) tumbled on the news that it plans to spend $18 billion over four years on fiber services. These issues offset the gain by Intel Corp. (Nasdaq: INTC), McDonald's Corp. (NYSE: MCD) and others, that had put the Dow Jones Industrial Average within striking distance of an all-time high.
Continue reading "Daily Market Brief for September 27, 2006" »
Stocks rallied and pushed the S&P 500 Index to a new 5-1/2 year high. The Dow Jones Industrial Average also reached its highest close of 2006, after lower oil prices and a better than expected consumer-confidence report eased economic worries.
Continue reading "Daily Market Brief for September 26, 2006" »
Stocks rallied and pushed the S&P 500 to a fresh five-and-a-half year closing high, as investors appeared optimistic that a decline in the price of oil over the last two months will suffice to sustain consumer spending and offset a slowing housing market. Investors are confident that the Federal Reserve won't lift interest rates again anytime soon. There was notable strength in the technology sector, but shares of Altria Group Inc. (NYSE: MO) sank as the company and other tobacco makers faced a new lawsuit.
Continue reading "Daily Market Brief for September 25, 2006" »
Stocks closed lower on the day and the week. Markets were pressured by concern that the economy could be entering a major slowdown and about the potential impact of a congressional probe into Hewlett-Packard Co (NYSE: HPQ). The losses have been a major disappointment to many investors; as many analysts were predicting new record highs for the Dow Jones Industrials and the S&P 500.
Continue reading "Daily Market Brief for September 22, 2006" »
Stocks closed with sharp losses after the Philadelphia Federal Reserve reported an unexpected contraction in manufacturing this month, fueling fears that the economic slowdown could be more painful than previously projected. This weak read on regional manufacturing gave investors an incentive to take profits following the recent rally.
Continue reading "Daily Market Brief for September 21, 2006" »
Shares of Tribune Co. (NYSE: TRB) surged up $1.36, or 4.4%, at $32.05, on a report that the newspaper company may consider going private. Its board may consider a leveraged buyout as well as several other options to deal with shareholder and employee dissent. Tribune has been feuding with its largest shareholder, the Chandler family trust, in a brawl over planned reductions at the Los Angeles Times.
Stocks ended higher as a sharp drop in oil prices and a batch of strong earnings reports led by Oracle Corp. (Nasdaq: ORCL) and Morgan Stanley (NYSE: MS) helped the market overcome some mild disappointment over the Federal Reserve's decision to leave the door open to further interest-rate increases. Some investors also expressed concern that there may be some debate over the inflation outlook among Fed members after one central bank official dissented with the majority decision to keep short-term rates unchanged.
Continue reading "Daily Market Brief for September 20, 2006" »
Stocks ended lower as a sales warning from Yahoo Inc. (Nasdaq: YHOO) saw the Nasdaq Composite snap a seven-session winning streak. Fortunately, a sharp drop in oil prices helped the market recover from its lows. Additionally, a smaller than expected rise in producer prices for August eased inflation worries. However, another weak housing report raised new questions about the extent of the slowdown in the nation's economy.
Continue reading "Daily Market Brief for September 19, 2006" »
Stocks ended mixed with the Nasdaq Composite logging a seventh session of gains. However, a rise in oil prices and cautious trading ahead of a mid-week Federal Reserve meeting on interest rates limited any significant move to the upside.
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Stocks closed higher on the day and week with the Nasdaq Composite posting a 3.2% five-day gain, after data showing moderating consumer inflation outweighed investor disappointment with the details of a Ford Motor Co. (Nasdaq: F) restructuring plan. The mild reading on inflation means the Federal Reserve won't have to raise rates when it meets again.
Continue reading "Daily Market Brief for September 15, 2006" »
Stocks closed lower after downgrades of General Electric (NYSE: GE) and Boeing (NYSE: BA) and data showing unexpected inflation in import prices provided excuses to pull back from a recent rally. Worries about inflation and interest rate policy have again caused investors to retreat.
Continue reading "Daily Market Brief for September 14, 2006" »
Stocks rallied and pushed the major averages to new four-month closing highs, as investors cheered solid earnings from Lehman Brothers Holdings Inc (NYSE: LEH) and lower Treasury yields. There was a broad-based advance.
Continue reading "Daily Market Brief for September 13, 2006" »
Stocks rallied and pushed the Dow Jones Industrial Average to its highest close since mid-May. The catalysts were, a sharp fall in crude oil prices, a drop in bond yields and strong earnings from Goldman Sachs (NYSE: GS). Additionally, Hewlett-Packard (NYSE: HPQ) and Bristol-Myers Squibb (NYSE: BMY) contributed to the cheer after the companies reshuffled their top managements.
Continue reading "Daily Market Brief for September 12, 2006" »
Stocks ended slightly higher as a commodities sell-off led by oil eased inflation concerns, but also raised questions about the outlook for economic growth. Shares of Dell Inc (NYSE: DELL) fell after the computer maker said it would delay its second-quarter earnings filing. Technology shares advanced giving a boost to the Nasdaq composite, but the broader market drifted at the end of a choppy session.
Continue reading "Daily Market Brief for September 11, 2006" »
Stocks ended higher as a fresh drop in oil prices and a more upbeat assessment of Federal Reserve commentary on the economy helped the market narrow its losses for the week. Investors welcomed the soothing comments from a Federal Reserve official regarding inflation and interest rates.
Continue reading "Daily Market Brief for September 08, 2006" »
Stocks ended lower after a Federal Reserve official hinted at further interest rate hikes in a market worried that a string of rate increases has already brought about a sharper than expected slowdown in economic growth. Investors also took in a morning read on wholesale inventories that rose 0.8% against the expected 0.7%. Inflation and interest rate policy worries continue to plague investors.
Continue reading "Daily Market Brief for September 07, 2006" »
A jump in labor costs sparked worries about inflation and the future of the Federal Reserve's interest-rate hiking campaign. This prompted a slide in the market with stocks closed lower. After last week's big run-up, stocks were vulnerable and the minor pullback is not surprising.
Continue reading "Daily Market Brief for September 06, 2006" »
Stocks ended higher helped by strength in the technology sector. While the Nasdaq composite rose thanks to strength in technology and commodity shares, the Dow industrials struggled after hitting more than three month highs last week.
Continue reading "Daily Market Brief for September 05, 2006" »
Stocks closed the week with the major averages all at their best levels in three months, following news that wage inflation was tamer than expected last month. Additionally, other data showed that consumers stayed optimistic and factory activity remained healthy. However, the perception of economic strength was undercut by two new reports confirming the view that the housing sector's slowing.
Continue reading "Daily Market Brief for Septembet 01, 2006" »
Stocks closed near flat on the day, but higher on the month with the market managing to overcome a long list of economic, energy price and political worries during August. Investors welcomed upbeat reports on the economy and inflation but played it cautious after the recent rally and ahead of tomorrow’s monthly employment report.
Continue reading "Daily Market Brief for August 31, 2006" »
Stocks finished higher with investors hoping that weaker Treasury yields may signal an end to Federal Reserve interest rate increases. The market also absorbed news of an upward revision to second quarter GDP data that, while higher than the original estimate, was below expectations. Tech stocks rallied for a fifth session in a row, while the broader market ended little changed.
Continue reading "Daily Market Brief for August 30, 2006" »
Stocks finished higher as investors looked past Federal Reserve monetary policy meeting notes that provided few decisive clues about the central bank's next interest rate move. While the Fed cut its growth forecast and left open the option of further rate increases, investors decided to focus on a drop in crude prices.
Continue reading "Daily Market Brief for August 29, 2006" »
Stock of Schering-Plough Corp. (NYSE: SGP) rose 2.6% to $20.94, after the firm agreed to plead guilty to conspiracy and pay $435 million to settle an investigation into its sales and marketing practices by the Justice Department and the U.S. Attorney's Office of Massachusetts. This calls for the company to pay $180 million in criminal fines and an additional $255 million to resolve civil aspects of the investigation.
Stocks closed sharply after a weakening of Tropical Storm Ernesto relieved investors and sent crude prices lower. Positive momentum was reinforced by news upbeat corporate news energy transporter Kinder Morgan (NYSE: KMI) accepting a $22 billion buyout and by other bits of mergers and acquisition news.
Continue reading "Daily Market Brief for August 28, 2006" »
Stocks closed mixed with all three major averages taking weekly losses due to concern over the outlook for interest rates and mounting fear of a sharper than expected slowdown in economic growth. Today, tech shares closed higher and blue chips closed lower, at the end of a choppy session that was driven mostly by fluctuating oil prices.
Continue reading "Daily Market Brief for August 25, 2006" »
Stocks closed with slender gains as the latest reports on the economy eased concerns about higher interest rates but also raised questions about slowing growth. The weaker than expected new home sales report implies accelerating pace of the economic slowdown.
Continue reading "Daily Market Brief for August 24, 2006" »
Stocks closed lower after the Bush administration said an offer by Iran to hold negotiations on its nuclear program falls short of U.N. demands to halt uranium enrichment. Investors are worried any worsening of the conflict with Iran could send crude prices higher. Additionally, a softer than expected report on the housing market revived economic worries on Wall Street.
Continue reading "Daily Market Brief for August 23, 2006" »
Stocks closed flat after a Federal Reserve official's warning that the central bank may need to raise interest rates again to combat inflation. This revived concerns about higher pressure on inflation and its impact on interest rate hikes. Advanced Micro Devices (NYSE: AMD) was the bright spot that rallied on an upbeat market share forecast and a broker upgrade.
Continue reading "Daily Market Brief for August 22, 2006" »
Stocks closed lower after weaker than expected results from home improvement retailer Lowe's (NYSE: LOW) triggered concern about economic growth. Additionally, Iran's defiant stance over its nuclear activities boosted oil prices. Nasdaq was hit the hardest as investors bailed out of some of last week's biggest winners.
Continue reading "Daily Market Brief for August 21, 2006" »
Some positive quarterlies, a cease-fire in the Mideast and hopes that the Fed will continue holding off on interest rate hikes contributed to a great week on Wall Street. The Dow gained a whopping 293.44 on the week, ending at 11,381.47. the Nasdaq had its biggest weekly gain in four years, ending at 2163.95, up 106.24 for the week, and the S&P500 also reported good news, gaining 35.56 for the week and crossing the $1300 mark to finish the week at 1302.30. Gold lost a little ground, dropping 22.30 for the week and ending at 621.70, and crude slipped 3.21, closing at 71.14.
Continue reading "The Week In Review: A great week" »
Stocks rose for a fifth straight day with the Nasdaq logging its biggest weekly point gain in more than four years, extending a rally powered by tamer than expected inflation data that lifted hopes the Federal Reserve has stopped raising interest rates.
Continue reading "Daily Market Brief for August 18, 2006" »
Stocks ended higher after Hewlett-Packard Co (NYSE: HPQ) declared strong quarterly results and as investors remained optimistic that economic growth has slowed enough for the Federal Reserve to hold interest rates steady. Falling oil prices added fuel to the fire
Continue reading "Daily Market Brief for August 17, 2006" »
The latest consumer price data eased inflation fears and firmed expectations the Federal Reserve will continue to stay its hand on interest. This prompted stocks to end higher for a third straight day with the Dow Jones Industrial Average and the S&P 500 at their best levels in three months.
Continue reading "Daily Market Brief for August 16, 2006" »
A tame inflation report allayed fears of further interest rate hikes to come, and shifted the focus away from concerns over slowing economic growth. This led the stocks to end higher with the S&P 500 at its best level in 2 1/2 months. The Nasdaq Composite posted its best one day point gain in more than six weeks to end at a one-month high, while the Dow Jones Industrial Average rallied triple digits to put in its biggest one day point rise in more than three weeks.
Continue reading "Daily Market Brief for August 15, 2006" »
Stocks ended slightly higher as oil prices eased after a cease-fire in the fighting between Israel and Hezbollah. However, concerns over the nation's economic outlook, inflation and interest rates nearly erased the early rally. Investors did not find enough reason to sustain an advance ahead of key inflation news expected in the next two day.
Continue reading "Daily Market Brief for August 14, 2006" »
Stocks closed lower after a session where investors spent a lot of time trying to diagnose the uncertain health of the economy. Investors digested retail sales numbers pointing toward strength and a business inventories report suggesting sluggishness. The sell off today was led by technology amid a mix of disappointing earnings and questions about stock options practices.
Continue reading "Daily Market Brief for August 11, 2006" »
Stocks closed higher as investors cheered the fact that U.K. authorities had apparently thwarted a terror plot to blow up U.S. bound flights, with an accompanying decline in oil prices underpinning gains. However, their concern about a possible slowing of the U.S. economy and corporate earnings continue to be an irritant.
Continue reading "Daily Market Brief for August 10, 2006" »
Stocks closed lower after a rally sparked by strong earnings from Cisco Systems (Nasdaq: CSCOT) and Walt Disney (NYSE: DIS) was undone by worries about economic strength. Investors tried to come to terms with an unfolding monetary-policy outlook that could include renewed rate increases in the coming weeks. The worry now is, would the Federal Reserve will be able to contain inflation without sparking a recession.
Continue reading "Daily Market Brief for August 09, 2006" »
Stocks closed lower after the Federal Reserve, as expected, took a break from its steady stream of quarter point interest rate increases but left open the door open for another rate increase as early as next month. Investors were left unsettled by the fact that the decision was not unanimous, with one Federal Open Market Committee member voting for another hike.
Continue reading "Daily Market Brief for August 08, 2006" »
Stocks closed with moderate losses as investor were worried a day ahead of the Federal Reserve's monetary-policy decision and by a supply disruption at a BP Plc (NYSE: BP) run oil field in Alaska that touched off a rally in crude futures. The rising oil prices sparked worries about inflation and how that would affect the Federal Reserve's decision to put its rate hiking campaign on hold.
Continue reading "Daily Market Brief for August 7, 2006" »
Stocks lost some steam and closed with slight losses. Investors were heartened by weak labor-market data that seemed to point to an imminent pause in the Federal Reserve's current series of rate hikes. However, concerns about slowing growth offset investor's initial enthusiasm about a possible pause in the Fed campaign of raising interest rates.
Continue reading "Daily Market Brief for August 04, 2006" »
Stocks closed higher with the DOW reaching its highest close in a month. Investors sincerely hope that tomorrow's monthly employment report will help convince the Federal Reserve to soften its monetary policy. However, two interest rate hikes in Europe have given this story a new twist. The bounce back in technology stocks boosted the broader market higher.
Continue reading "Daily Market Brief for July 03, 2006" »
Stocks bounced back from two sessions of losses on a slew of positive corporate news stories, with Procter & Gamble (NYSE: PG) and Time Warner (Nasdaq: TWTC) zooming higher on stronger-than-expected earnings.
Continue reading "Daily Market Brief for August 02, 2006" »
Stocks closed sharply lower on worries that inflationary signs in the day's economic news could mean the Federal Reserve's interest-rate hiking campaign may not be done yet. The round of strong economic reports dealt a blow to last week's hopes for a speedy conclusion to the interest rate tightening campaign. Rising energy prices and weak monthly auto sales added fuel to the fire.
Continue reading "Daily Market Brief for August 01, 2006" »
Stocks closed lower to cap a mixed month for the markets as a largely solid second-quarter earnings season and rising hopes of an end to interest rate increases were offset by concerns over slowing economic growth and the conflict in the Middle East. Investors are stepping back amid concerns about rising oil prices and how much longer the Federal Reserve will keep raising interest rates.
Continue reading "Daily Market Brief for July 31, 2006" »
The Dow is back up to happier levels, gaining a whopping 351.32 this week to close the day at 11219.70. Wall Street breathed a sigh of relief after last week's sub-11000 levels soured investors' moods. The Nasdaq also climbed 73.75 this week, ending at 2094.14, despite mixed results on the tech front; and the S&P500 closed at 1278.55, up 38.26 for the week.
Continue reading "The Week In Review: Earnings reports" »
Stocks ended sharply higher, with the S&P 500 Index posting its best weekly point gain in over three years, on hopes the Federal Reserve will stop raising interest rates after economic growth slowed more than expected in the second quarter. This strong finish comes after a week of volatile trading due to a mixed set of quarterly reports.
Continue reading "Daily Market Brief for July 28, 2006" »
Stocks closed lower in a market hemmed in by concerns over the economy and tensions in the Middle East. However, Exxon Mobil Corp.'s strong earnings results brightened a day in which technology shares tumbled. Investors took a step back near the end of an otherwise strong week on Wall Street.
Continue reading "Daily Market Brief for July 27, 2006" »
Disappointing results from Amazon.com Inc. (Nasdaq: AMZN) and a weak profit outlook from Boeing Co. (NYSE: BA) prompted the stocks to end lower. However, a Federal Reserve survey on the economy kept investor hopes alive that the central bank may stop raising interest rates soon.
Continue reading "Daily Market Brief for July 26, 2006" »
Stocks closed higher on the back of better than expected consumer confidence data and lower oil prices. However, investors voiced fresh worries about the strength of corporate profits. Stocks staged a comeback at the end of a volatile session in which investors struggled with uncertainties.
Continue reading "Daily Market Brief for July 25, 2006" »
Stocks ended higher with the Dow Jones Industrial Average posting a triple-digit gain and the Nasdaq Composite up over 2%, after a diplomatic push in the Middle East, a flurry of merger-and- acquisition activity and strong results from Merck (NYSE: MRK) and Schering-Plough (NYSE: SGP) boosted sentiment. Investors eyed the big deals, upbeat earnings and decided to scoop up recently battered shares.
Continue reading "Daily Market Brief for July 24, 2006" »
This week, Fed chief Bernanke told Congress that the economy is slowing down to an acceptable level, and inflationary pressures will ease off as a result. Most investors took this to mean that the regular interest rate hikes have come to an end. The market rallied on the news and the Dow gained 122 points on Wednesday, ending the week up 129.03 over last Friday, closing at 10868.38. Still short of the 11,000 level that makes everybody happy, but a few good earnings reports next week will push the Dow back over that threshold.
Continue reading "The Week In Review: Bernanke, Tech meltdown, Mideast oil flow" »
Stocks closed lower once again with the Nasdaq Composite skidding to its lowest finish in 14 months and taking its third straight weekly loss. Profit warning from Dell (NYSE: DELL) and nervousness about slowing economic growth added fuel to the simmering fire. The worries about the economy overshadowed growing optimism that the Federal Reserve will stop raising interest rates soon.
Continue reading "Daily Market Brief for July 21, 2006" »
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