ThemarketclosedloweronthisWednesday.TheDow,whichwassomewhatdistortedbya5%gaininBoeingshares,postedamodestlossof0.4%.Nasdaqcontinuedtobetheworstperformeramongthebigthreeandendedthedaylowerbymorethan1%.AlthoughfinancialsgotanearlyboostfromthenewsthatCitigroupisclosetosell$12billionormorethanaquarterofitsleveragedloans,reportsthatGoldmanandMorgansawtheirLevel3assetsclimbduringthelatestquarterquicklyc...[
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ItwasanotherquietdayonWallStreet.TheDowswunginarangeof80pointsbeforeendingthedaywithalossof36points.Nasdaq,theworstperformeramongthebigthree,closedthedaylowerby0.7%.Therewassimplylittlegoodnewsintoday’ssession.Infact,wegotsomeworse-than-expectedeconomicnewsplusdisappointingearningsnewsfromtheAlcoaandAMD.WaMu’scapitalinjectionplanwasnotasrosyassomehadhopedforeither.Butattheendoftheday,themarketst...[
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Themarketstartedthenewweekinarelativelyquietmood.Allthreemajorindicesclosedthedaywithin0.3%fromtheunchangedlevels.TherewaslittleeconomicnewsscheduledtobereleasedbutapotentialcapitalinjectionintoWaMuwithoutgovernmentinvolvementalongwithseveralM&Aannouncementsmanagedtokeepthemarketinthepositiveterritoryformostoftheday.
Commodities,followingasharpreboundintheCRBcommodityindexrecently,continuedtod...[
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Themarketendedthedayessentiallyflat,whichwasnotbadatallconsideringthehugegainsearlierthisweekandaworse-than-expectedNon-farmpayrollreportearlythismorning.Fortheweek,theDowrosealmost400points,or3.2%,withnearlyalltheadvancecomingonTuesday.TheS&P500gained4.2%intheweekto1370,thebiggestweeklygainin2months.TheNasdaq,whichhaditsbestweekinmorethan2years,gainedalmost5%andfinishedtheweekat2370.Othermajorind...[
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Ithasbeenawhilethatweseethemarketbehaveinsuchaquietway.TheDowwasswingingbetweenplus0.5%andminus0.5%forthewholedayandclosedthedaymodestlyup.WedidgetsomemixedeconomicnewsbutthespotlightofthedaywasinWashington,wheretheFedChairmanandotherofficialstestifiedbeforetheSenateBankingCommitteeregardingtheBearStearnscollapse.
Theweeklyjoblessclaimscamemuchworsethanexpected.Economistsexpectedareadingof365k...[
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Themarketheldupprettywellfollowingyesterday’shugerally.Allthreemajorindicespostedalossbutthedeclinewaslimitedtolessthanhalfofapercent.ThenewsontheeconomicfrontwasmixedandBernankementioned“recession”forthefirsttimeattheFedChairmanposition.
StartwiththemonthlyADPreport,whichisoftenusedasaproxyforthemoreimportantNon-farmpayrollreportonFriday.AlthoughADPincludesonlyprivateemploymentanditsrecord...[
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Themarketstartedthenewquarterinawaywehaven’tseenfor70years.Allthreemajorindicespostedagainofbetterthan3%.AccordingtoBloomberg,itisthebeststartforthesecondquartersince1938.Actuallytoday’srallywassohugethatsometradersstartedtowonderwhetheritwassimplyanAprilfools’joke.
Ironically,itwasUBS’recordwrite-downthattriggeredtoday’shugerally.ThebiggestEuropeanbankannouncedearlierthatitwouldmakeafurt...[
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Themarketendedthefirstquarteronarelativelyquietfashion.Allthreemajorindicespostedmodestgainsbutthevolumewasverylight.Despitetoday’sgain,theS&P500stillendedthemonthlowerbyaroundhalfofapercent,extendingitslosingstreaktofiveconsecutivemonths-thelongestsince1990.Asforthequarter,theindexpostedadeclineof9.9%,thebiggestsince2002.
Itwasalightdayintermsofeconomicnews.TheChicagoPMIcameat48.2,betterthan...[
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Allthreemajorindicescontinuedtoslideforthethirddayinarow.Themarketstartedtheweekonastrongtonebutfinishedtheweekwithalossofaround1%.UnlesswegetastrongMonday,themarketissettocloselowerforthefifthmonthandendthequarterwiththesteepestlosssince2002.Similartoyesterday,theeconomicnewsforthedaywasmoreorlessmatchingexpectation,butananalyst’sbearishcommentsforthefinancialsectoralongwithaprofitwarningfromJCP...[
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Themarketcontinuedtogivebackgainsfromthepreviousweek.Attoday’sclose,theS&P500isinredfortheweekandmonth.WithonlytwomoretradingsessionsremaininginMarch,thewidelyfollowedindexisontracktopostlossesforfivemonthsinarow,astreaklastseenin1990.Unlikepreviousfewdays,wedidgetsomepositiveeconomicnews.However,Oracle’sdisappointingrevenueresultsforitslatestquarteralongwithconcernsoverfirstquarterearningsforfi...[
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