Allthreemajorindicesendedthedaylowerbyalittlelessthan1%.Disappointingeconomicnewsandananalystslashingfirstquarterearningsestimatesforseveralfinancialnamesoutweighedstrengthsseeninmanycommoditynames.However,evenwithtoday’sdecline,theS&P500isstillupmorethan6%fromthelowsreachedonMarch17th.
Businessesmayhavejoinedconsumersincuttingtheirspendingrecently.TheDurableOrdersforFebruarydropped1.7%follow...[
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Themarketclosedthedayinamixedfashion.TheDow,theonlyloseramongthethreemajorindices,swungbetweenpositiveandnegativeterritoriesforatleast30timesbeforefinishingthedaywithalossof16points.Itwasnotasmallachievementconsideringmostnewsofthedaywasnegative.Inaddition,nosharpselloffinrecentwinnersaftertherecentrun-upwasalsoconsideredtobepositiveforthemarketmovingforward.
Consumersseemedtobequitenervousthe...[
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Themarkethaditsfirstback-to-backrallyinMarchwithallthreemajorindicesgainingmorethan1.5%followinglastThursday’s2%gain.WehavetogobacktoearlyFebruarytoseearallyofthisscale.AsmostEuropeanmarketsareclosedtodayfortheEasterholiday,today’srallyintheUSwilllikelyhavesomepositiveimpactontheoverseastradingtomorrow.
Finallywereceivedsomepositivenewsonthehousingfront.TheFebruaryexistinghomesalesrose2.9%to...[
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Allthreemajorindicesclosedthedayhigherbymorethan2%despitemixedeconomicnewsandongoingde-leveragingactivitiesinthecommoditymarket.Fortheweek,theS&P500advanced3.2%andtheDowgained2.2%.TheCRBCommodityIndex,whichoutperformedtheequityindicesbyawidemarginbeforethisweek,gaveback8.3%.
Investorstryingtofindgoodnewsinthejobmarketprobablyhadtowaitalittlelonger.Thecloselywatchedinitialjoblessclaimsincreased...[
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Themarketgavebackagoodportionofyesterday’shistoricalgain.Allthreemajorindicesclosedthedaylowerbyaround2.5%.Concernsofmorede-leveragingactivitiesinthecommoditymarketoutweighedpositivenewsfromthefinancialsector.
WestartedthedayinapositivetonefollowingMorgan’sbetter-than-expectedearningsresultandreportthatregulatorwasrelaxingitssurpluscapitalrequirementonFannieMaeandFreddieMacfrom30%to20%.Thela...[
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Bullsaregoingtocelebratetonight.Whyshouldn’tthey?Justonedayfollowingoneofthemostvolatiletradingsessionsinyears,themarkethadoneofitsbestdaysinhistory.Infact,S&P500hadthebestpercentagegainsinceOct2002andtheDowgained420points,thefourthbestinits112years’history.Evenmoreincredible,thisallhappenedonadayfilledwithso-soeconomicnewsandaFeddecisionthatarguablydisappointedsomeontheStreet.
Themarketstar...[
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Therearesomedaysthatwillbewrittenintothefinancialhistorybookandtodayshouldbequalifiedasoneofthem.Moreprecisely,thefallinBearStearnswillberememberedinasimilarfashionasLTCM,OrangeCountyormorerecentlyEnron.JustminutesbeforetheAsianmarketopenedthismorning,JPMorganreachedadealwithBearStearnsandagreedtopaytheshareholdersofthetroubledinvestmentbank$2foreachshare.Soonafter,theFedmadeseveralsignificantanno...[
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AnormallyquietFridayturnedouttobeoneofthemostvolatilesessionsinrecentyears.Allthreemajorindicesendedthedaydownbymorethan1.5%.Butfortheweek,DowwasactuallyhighercomparedtooneweekagowhileS&P500lostlessthanhalfapercent.TheVIXindexclosedat31.16,thehighestsinceMarch2003-themonththatUSlaunchedthesecond“GulfWar”againstIraqandwasmarkedastheendofthe2000–2003bearmarket.Canhistoryrepeatthistime?Onlytimewil...[
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Therearemorethanadozenreasonsthatcoulddrivethemarketdownbymorethan300points.Butintheend,onereportsavedthatfromhappeningandallthreemajorindicesendedthedayingreen.Whataremarkabledayanditshouldnotbeeasilyforgottenbybullsandbearsalike.BeforethestockmarketopenintheUS,therewassimplynogoodnewstocheerabout.Evenworse,wegotsomeoverwhelminglybearishnews.
StartwiththetroubledhedgefundCarlyleCapital.Althou...[
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Themarketheldupprettywelluntil30minutesbeforetheclose,whenawaveofsellinginfinancialsharesbroughtallthreemajorindicesintored.Butthelosseswerequitelimited.Forexample,S&P500,theworstperformeramongthethree,wasdownbylessthan1%aftergainingmorethan3%yesterday.Thevolumewasonthelightside.Similartoyesterday,therewaslittleeconomicnewsscheduledtobereleased.Aswementionedyesterday,financialsarethekeytowatchinth...[
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