A heartbreaker for the bulls. At one point they had a major reversal and gain on their hands.
But first, the scoreboard:
Dow: +5
S&P 500: +0.40
NASDAQ: -5.94
And now, the key stories of the day:
Following Monday's action in the US, you knew that Japan was going to be ugly, if only because it had to play catch up. But it wasn't just ugly -- it was really ugly, with stocks falling over 3%, bringing down on ongoing nervousness about the ineptitude of the BoJ. That cast a pall over the rest of Asia.
Europe had another unimpressive day. Stocks sagged, Greek CDS spreads continued to widen, and Anglo Irish Bank turned in a really monster loss.
Futures in the US bottomed very early in the morning (right around 3:00 AM) and steadily gained into the opening bell. A decent June Case-Shiller number buoyed stocks. A good consumer confidence index reading also helped, and given all the talk about the double dip, it this was a particularly gratifying reading.
At one point all the markets were up solidly, including the NASDAQ. But as is the case these days, the rally faded. Fed minutes confirmed a divided FOMC (though mostly it was all well within expectations).
In the end, it was a tug-of-war kinda day, but stocks ended lower, with the NASDAQ taking the worst of it.
source:businessinsider
Tuesday, August 31, 2010
Why Gold is A Safe Investment Despite Record Highs
Here's Why Gold Is A Safe Investment Despite Record Highs
With gold only few dollars shy of marking another all-time high, it's appropriate to review the investment and central banking ramifications of gold at $1250/oz.
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With gold only few dollars shy of marking another all-time high, it's appropriate to review the investment and central banking ramifications of gold at $1250/oz.
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Market Summary 8/31/2010
Stock Market Closing Prices – 8/31/10
Dow ( DJIA ) Close - 10014.72 +4.99
Nasdaq Close - 2114.03 -5.90
S&P 500 Close – 1049.33 +0.41
Commodities Closing Prices – 8/31/10
Gold Close - 1248.30
Oil Close – 71.62
Natural Gas – 3.82
The Dow up 5 points to 10014, stocks struggled all day and ended modestly lower as traders bid goodbye to a crummy August.
The indexes end down more than 4% in August. Volume continued to be light.
Expert said trading will probably remain volatile as investors await key economic reports due later this week, including non-farms payroll report on Friday. It's hard to be long or short ahead of the non-farms payroll report.
Crude oil was settled down $2.78,to $71.92, a victim of economic worry. Gold jumps above $1,250.
Economic Data: Sep 1, 2010
8:15am ADP Employment Change
10:00am Construction Spending
10:00am ISM Index
Dow ( DJIA ) Close - 10014.72 +4.99
Nasdaq Close - 2114.03 -5.90
S&P 500 Close – 1049.33 +0.41
Commodities Closing Prices – 8/31/10
Gold Close - 1248.30
Oil Close – 71.62
Natural Gas – 3.82
The Dow up 5 points to 10014, stocks struggled all day and ended modestly lower as traders bid goodbye to a crummy August.
The indexes end down more than 4% in August. Volume continued to be light.
Expert said trading will probably remain volatile as investors await key economic reports due later this week, including non-farms payroll report on Friday. It's hard to be long or short ahead of the non-farms payroll report.
Crude oil was settled down $2.78,to $71.92, a victim of economic worry. Gold jumps above $1,250.
Economic Data: Sep 1, 2010
8:15am ADP Employment Change
10:00am Construction Spending
10:00am ISM Index
Monday, August 30, 2010
...Talking About A Double Dip
GOOLSBEE: I don't think we will have a double dip recession. But it's –clearly anybody should keep their eye on that. You saw at the Jackson Hole fed conference in Wyoming that the - the fed is - is saying that. The central bankers from around the world are paying attention to it. I think if we passed a small business recovery bill, if we do what the president is asking and extend the middle class tax cuts, and if we go with his export initiative - he's outlined various ideas to promote exports. I don't think we will have a double dip recession. But it's clearly something we've got to - we've got to be mindful, and we've got to prevent.
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Warren Buffett:The Fortune Years
The Oracle of Omaha has long been considered the iconic value investor. As Buffett celebrates his 80th birthday today, Fortune takes a look back at the decades he's spent gracing our cover.
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Market Summary 8/30/2010
Stock Market Closing Prices – 8/30/10
Dow ( DJIA ) Close - 10009.73 -140.92
Nasdaq Close - 2119.97 -33.66
S&P 500 Close – 1048.92 -15.67
Commodities Closing Prices – 8/28/10
Gold Close - 1235.60
Oil Close – 74.12
Natural Gas – 3.81
The Dow down 141 points to 10010 , The market gave up of its gains from Friday.
Much of the decline was disappointment with a government report on personal income and spending. The declines came despite a steady stream of deal announcements and rumors of more deals.
Crude oil setled down 47 cents to $74.70. Gold settled up $1.30 to $1,239.20 an ounce.
Merger Monday appears to be rising. Intel agrees to buy Infineon's mobile chip business and 3M buying Cogent.
Market breadth was negative. Trading volume was light, with 818 million shares changing hands.
Economic Data: August 31, 2010
U.S. Case-Shiller home prices for June. 9 a.m.
U.S. August Conference Board consumer confidence. 10 a.m.
Federal Reserve's FOMC minutes. 2 p.m.
Dow ( DJIA ) Close - 10009.73 -140.92
Nasdaq Close - 2119.97 -33.66
S&P 500 Close – 1048.92 -15.67
Commodities Closing Prices – 8/28/10
Gold Close - 1235.60
Oil Close – 74.12
Natural Gas – 3.81
The Dow down 141 points to 10010 , The market gave up of its gains from Friday.
Much of the decline was disappointment with a government report on personal income and spending. The declines came despite a steady stream of deal announcements and rumors of more deals.
Crude oil setled down 47 cents to $74.70. Gold settled up $1.30 to $1,239.20 an ounce.
Merger Monday appears to be rising. Intel agrees to buy Infineon's mobile chip business and 3M buying Cogent.
Market breadth was negative. Trading volume was light, with 818 million shares changing hands.
Economic Data: August 31, 2010
U.S. Case-Shiller home prices for June. 9 a.m.
U.S. August Conference Board consumer confidence. 10 a.m.
Federal Reserve's FOMC minutes. 2 p.m.
Sunday, August 29, 2010
Daytrading Rules
*** Leave Greed at the Door.
*** Don't Hold Stocks Overnight.
*** Never Try to Catch a Falling Knife
*** Buy Stocks that are Gping Up
*** Buy Stocks Breaking Through their High of Day
*** Don't Hold Stocks Overnight.
*** Never Try to Catch a Falling Knife
*** Buy Stocks that are Gping Up
*** Buy Stocks Breaking Through their High of Day
Saturday, August 28, 2010
Investors Pull $7.1 Billion From Stock Funds...
Investors Pull $7.1 Billion From Stock Funds Worldwide, Buy Emerging Bonds
Investors withdrew a net $7.1 billion from equity funds tracked worldwide in the week to Aug. 25 and put some $5.2 billion into bonds amid concern economies in the U.S. and Europe are losing momentum, EPFR Global said.
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Investors withdrew a net $7.1 billion from equity funds tracked worldwide in the week to Aug. 25 and put some $5.2 billion into bonds amid concern economies in the U.S. and Europe are losing momentum, EPFR Global said.
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Friday, August 27, 2010
Next Week's Stock Market
The next week is labor day weekend. Normally, the week before Labor Day is quite on Wall Street.
A slew of important economic reports are due in the week before Labor Day. The key event Friday: The big jobs report for August.
The real action will come in how the markets react to important economic reports that will come every day, starting with a report on personal income for July on Monday and ending with the big report on August payroll employment and joblessness on Friday.
Here's what to expect from major reports and other data:
Monday: Personal income and spending for July, due Monday from the Commerce Department.
Tuesday:Consumer confidence, due Tuesday from the Conference Board.
S&P Case-Shiller Home Price Index, due Tuesday morning.
Chicago Purchasing Managers Index, due Tuesday.
Minutes from the Federal Reserve's Aug. 10 meeting, due Tuesday at 2 p.m. ET.
Wednesday: The Institute for Supply Management Manufacturing Index for August, due Wednesday.
U.S. auto sales for August, due Wednesday from automakers.
Construction spending for August, due Wednesday from the Commerce Department.
Thursday:Jobless claims, due Thursday morning from the Labor Department.
Factory orders for July, due Thursday from the Commerce Department.
Pending home sales, due Thursday from the National Association of Realtors.
Friday:ISM non-manufacturing index, due Friday from the Institute for Supply Management.
Payrolls and unemployment for July, due before the Friday market open from the Labor Department.
Here are the key reports for ER:
Monday: Supermarket chain Winn-Dixie Stores (WINN).
Tuesday: Bank of Nova Scotia (BNS), discount retailer Dollar General (DG).
Wednesday: Aircraft maker Bombardier (BDRAF), H.J. Heinz, Hovnanian and Joy Global.
Thursday: H&R Block (HRB), Krispy Kreme Doughnuts (KKD) and Toronto-Dominion Bank.
A slew of important economic reports are due in the week before Labor Day. The key event Friday: The big jobs report for August.
The real action will come in how the markets react to important economic reports that will come every day, starting with a report on personal income for July on Monday and ending with the big report on August payroll employment and joblessness on Friday.
Here's what to expect from major reports and other data:
Monday: Personal income and spending for July, due Monday from the Commerce Department.
Tuesday:Consumer confidence, due Tuesday from the Conference Board.
S&P Case-Shiller Home Price Index, due Tuesday morning.
Chicago Purchasing Managers Index, due Tuesday.
Minutes from the Federal Reserve's Aug. 10 meeting, due Tuesday at 2 p.m. ET.
Wednesday: The Institute for Supply Management Manufacturing Index for August, due Wednesday.
U.S. auto sales for August, due Wednesday from automakers.
Construction spending for August, due Wednesday from the Commerce Department.
Thursday:Jobless claims, due Thursday morning from the Labor Department.
Factory orders for July, due Thursday from the Commerce Department.
Pending home sales, due Thursday from the National Association of Realtors.
Friday:ISM non-manufacturing index, due Friday from the Institute for Supply Management.
Payrolls and unemployment for July, due before the Friday market open from the Labor Department.
Here are the key reports for ER:
Monday: Supermarket chain Winn-Dixie Stores (WINN).
Tuesday: Bank of Nova Scotia (BNS), discount retailer Dollar General (DG).
Wednesday: Aircraft maker Bombardier (BDRAF), H.J. Heinz, Hovnanian and Joy Global.
Thursday: H&R Block (HRB), Krispy Kreme Doughnuts (KKD) and Toronto-Dominion Bank.
Stock Market Survival School
Cramer said despite the inherit conflicts of interest on Wall Street, and the occasional bad apple, stocks still remain the best way to make money over the long term. He said since 1926, 40% of the S&P 500's total return has come from dividends, which is why he continued to recommend high-yielding dividend stocks.
Beyond that, however, Cramer said there are simple rules investors can follow to help them avoid many of the rookie mistakes that cost individual investors tons
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Beyond that, however, Cramer said there are simple rules investors can follow to help them avoid many of the rookie mistakes that cost individual investors tons
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Market Summary 8/27/2010
Stock Market Closing Prices – 8/27/2010
Dow ( DJIA ) Close - 10150.65 +164.84
Nasdaq Close - 2153.63 +34.94
S&P 500 Close – 1064.59 +17.37
Commodities Closing Prices – 8/2710
Gold Close - 1236.00
Oil Close – 75.17
Natural Gas – 3.65
The Dow up 165 points to 10151 after The Fed chairman says he’ll support the economic recovery.
The rally was a big relief to many investors dismayed by the market's declines this month. But the relief may be short-lived because next week offers the potential for more bad economic news on the economy, especially the Sept. 3 jobs report.
The rally came despite Intel (INTC) cutting its revenue guidance for the Q3, saying low-end-computer sales are coming in weaker than expected.
Oil futures for October delivery gained $1.81 to settle at $75.17 a barrel. Gold for December delivery gained 20 cents, settling at $1,237.90 an ounce.
Dow ( DJIA ) Close - 10150.65 +164.84
Nasdaq Close - 2153.63 +34.94
S&P 500 Close – 1064.59 +17.37
Commodities Closing Prices – 8/2710
Gold Close - 1236.00
Oil Close – 75.17
Natural Gas – 3.65
The Dow up 165 points to 10151 after The Fed chairman says he’ll support the economic recovery.
The rally was a big relief to many investors dismayed by the market's declines this month. But the relief may be short-lived because next week offers the potential for more bad economic news on the economy, especially the Sept. 3 jobs report.
The rally came despite Intel (INTC) cutting its revenue guidance for the Q3, saying low-end-computer sales are coming in weaker than expected.
Oil futures for October delivery gained $1.81 to settle at $75.17 a barrel. Gold for December delivery gained 20 cents, settling at $1,237.90 an ounce.
Thursday, August 26, 2010
Market Summary 8/26/2010
Stock Market Closing Prices – 8/26/10
Dow ( DJIA ) Close - 9985.81 -74.25
Nasdaq Close - 2118.69 -22.85
S&P 500 Close – 1047.22 -8.11
Commodities Closing Prices – 8/26/10
Gold Close - 1237.70
Oil Close – 72.96
Natural Gas – 3.83
The Dow closed down 74 points to 9986 .
The bears won the day today as economic fears and weakness in IBM and Cisco weighted market.
Jobless claims aren't as bad as expected. Gold dips; crude oil rises.
The battle will erupt again Friday when the government reports a revision to GDP and Fed Chairman Ben Bernanke discusses how the Fed can help the economy start growing again.
Economic Data: August 27, 2010
U.S. second-quarter GDP revision. 8:30 a.m.
Final Univ. of Michigan consumer sentiment for August. 10 a.m.
Fed Chairman Ben Bernanke keynote speech at Jackson Hole, Wyo., conference. 10 a.m.
Dow ( DJIA ) Close - 9985.81 -74.25
Nasdaq Close - 2118.69 -22.85
S&P 500 Close – 1047.22 -8.11
Commodities Closing Prices – 8/26/10
Gold Close - 1237.70
Oil Close – 72.96
Natural Gas – 3.83
The Dow closed down 74 points to 9986 .
The bears won the day today as economic fears and weakness in IBM and Cisco weighted market.
Jobless claims aren't as bad as expected. Gold dips; crude oil rises.
The battle will erupt again Friday when the government reports a revision to GDP and Fed Chairman Ben Bernanke discusses how the Fed can help the economy start growing again.
Economic Data: August 27, 2010
U.S. second-quarter GDP revision. 8:30 a.m.
Final Univ. of Michigan consumer sentiment for August. 10 a.m.
Fed Chairman Ben Bernanke keynote speech at Jackson Hole, Wyo., conference. 10 a.m.
Wednesday, August 25, 2010
Market Summary 8/25/2010
Stock Market Closing Prices – 8/25/10
Dow ( DJIA ) Close - 10060.06 +19.61
Nasdaq Close - 2141.54 +17.38
S&P 500 Close – 1055.33 +3.46
Commodities Closing Prices – 8/25/10
Gold Close - 1239.50
Oil Close – 72.79
Natural Gas – 3.89
The Dow up 20 points to 10060 after drop as many as 102 points soon after open.
New-home sales drop to their lowest level on record. The report was especially disappointing because most analysts had expected sales to be flat from June.
The Dow had hovered around 10,000 for all of the morning and much of the afternoon before the rally set in. The Dow dropped below 10,000 on at least three occasions today.
The S&P 500 dropped twice to about 1,040, which technical analysts have been watching carefully. A close below 1,040 would be very bearish for stocks.
But the market faces a big head wind on Thursday when the Labor Department issues its weekly report on jobless claims. Over the past few weeks, the report has signaled a deteriorating job market.
Oil futures for October delivery gained 89 cents to settle at $72.52 a barrel. Gold for December delivery rose $7.90 to settle at $1,1241.30 an ounce.
Economic Data: August 26, 2010
U.S. weekly jobless claims. 8:30 a.m.
EIA releases weekly natural gas inventories.10:30 a.m.
J. Crew Group is scheduled to report quarterly results before market open.
Dow ( DJIA ) Close - 10060.06 +19.61
Nasdaq Close - 2141.54 +17.38
S&P 500 Close – 1055.33 +3.46
Commodities Closing Prices – 8/25/10
Gold Close - 1239.50
Oil Close – 72.79
Natural Gas – 3.89
The Dow up 20 points to 10060 after drop as many as 102 points soon after open.
New-home sales drop to their lowest level on record. The report was especially disappointing because most analysts had expected sales to be flat from June.
The Dow had hovered around 10,000 for all of the morning and much of the afternoon before the rally set in. The Dow dropped below 10,000 on at least three occasions today.
The S&P 500 dropped twice to about 1,040, which technical analysts have been watching carefully. A close below 1,040 would be very bearish for stocks.
But the market faces a big head wind on Thursday when the Labor Department issues its weekly report on jobless claims. Over the past few weeks, the report has signaled a deteriorating job market.
Oil futures for October delivery gained 89 cents to settle at $72.52 a barrel. Gold for December delivery rose $7.90 to settle at $1,1241.30 an ounce.
Economic Data: August 26, 2010
U.S. weekly jobless claims. 8:30 a.m.
EIA releases weekly natural gas inventories.10:30 a.m.
J. Crew Group is scheduled to report quarterly results before market open.
Tuesday, August 24, 2010
Obama Needs to Act
Cramer said Obama has the power to turn the markets and the economy around, he just doesn't know it.
Cramer said President Obama has the ability to change the psychology of the markets, if only he'd take a more active role, and show investors that he actually cares about equities.
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Cramer said President Obama has the ability to change the psychology of the markets, if only he'd take a more active role, and show investors that he actually cares about equities.
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Market Summary 8/24/2010
Stock Market Closing Prices – 8/24/10
Dow ( DJIA ) Close - 10040.45 -133.96
Nasdaq Close - 2179.76 -35.87
S&P 500 Close – 1051.87 -15.49
Commodities Closing Prices – 8/24/10
Gold Close - 1231.80
Oil Close – 71.41
Natural Gas – 4.05
The Dow dropped 134 points to 10040.
Investors started selling after they took one quick look at today’s report on existing-home sales. Volume, however, was light.
With today's pullback, the Dow rejoins the S&P and the Nasdaq in a correction, commonly defined as a fall of 10% or more from a recent high. The Dow is off 10.4% from its April high, with the S&P 500 off 13.6% and the Nasdaq off 16.1%.
Crude oil dropped $1.47, or 2%, to $71.63 a barrel. Interest rates continued to fall. Gold, however, settled up $4.90 to $1,233.40 an ounce.
Economic Data: August 25, 2010
U.S. durable goods orders for July. 8:30 a.m.
U.S. new-home sales for July. 10 a.m.
****What the Durable Goods Orders Report Measures ? ****
Link
Dow ( DJIA ) Close - 10040.45 -133.96
Nasdaq Close - 2179.76 -35.87
S&P 500 Close – 1051.87 -15.49
Commodities Closing Prices – 8/24/10
Gold Close - 1231.80
Oil Close – 71.41
Natural Gas – 4.05
The Dow dropped 134 points to 10040.
Investors started selling after they took one quick look at today’s report on existing-home sales. Volume, however, was light.
With today's pullback, the Dow rejoins the S&P and the Nasdaq in a correction, commonly defined as a fall of 10% or more from a recent high. The Dow is off 10.4% from its April high, with the S&P 500 off 13.6% and the Nasdaq off 16.1%.
Crude oil dropped $1.47, or 2%, to $71.63 a barrel. Interest rates continued to fall. Gold, however, settled up $4.90 to $1,233.40 an ounce.
Economic Data: August 25, 2010
U.S. durable goods orders for July. 8:30 a.m.
U.S. new-home sales for July. 10 a.m.
****What the Durable Goods Orders Report Measures ? ****
Link
Sunday, August 22, 2010
Blackstone invests in Chinese housing market
Blackstone, the US private equity group, has made its first significant investment in the booming Chinese housing market after agreeing a deal with one of Hong Kong’s largest property developers to build luxury apartments in the country.
Blackstone has agreed to back the development by Great Eagle of more than 1,000 new homes in Dalian in Liaoning, a coastal city and port in northern China. The scheme is also set to include more than 400 hotel rooms, and is expected to be built in several stages.
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Blackstone has agreed to back the development by Great Eagle of more than 1,000 new homes in Dalian in Liaoning, a coastal city and port in northern China. The scheme is also set to include more than 400 hotel rooms, and is expected to be built in several stages.
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In Striking Shift, Small Investors Flee Stock Market
Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year, according to the Investment Company Institute, the mutual fund industry trade group. Now many are choosing investments they deem safer, like bonds.
If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.
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If that pace continues, more money will be pulled out of these mutual funds in 2010 than in any year since the 1980s, with the exception of 2008, when the global financial crisis peaked.
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Friday, August 20, 2010
Market Summary 8/20/2010
Stock Market Closing Prices – 8/20/10
Dow ( DJIA ) Close - 10213.62 -57.59
Nasdaq Close - 2179.76 +0.81
S&P 500 Close – 1071.69 -3.94
Commodities Closing Prices – 8/20/10
Gold Close - 1227.20
Oil Close – 73.46
Natural Gas – 4.12
The Dow lost 58 points to 10213, as investors continued to react to the week's downbeat economic reports that have raised concern about a double-dip recession.
Oil futures for September delivery settled down 97 cents to $73.46 a barrel. Gold for December delivery slipped $6.60 to settle at $1,228.80.
Looking forward next week,
The economic news will continue to challenge. It's a relatively light week for economic reports, but it will be hard to get a lot of cheer from them.
Here's what to look for:
Tuesday: Existing-home sales for July.
Wednesday: Durable-goods orders for July. New-home sales for July.
Thursday: Initial jobless claims.
Friday: Gross-domestic-product growth for the second quarter.
Reuters/Michigan Consumer Sentiment Index for July.
Other reports due next Week include:
Monday: Sanderson Farms (SAFM) and Tuesday Morning (TUES).
Tuesday: Barnes & Noble,Big Lots (BIG)Burger King(BKC) and Medtronic (MDT).
Wednesday: American Eagle Outfitters (AEO), BHP Billiton (BHP), brewer Heineken (HINKY).
Thursday: Bebe Stores (BEBE), Credit Agricole (CRARY) and Bank of China (BACHY).
Friday: National Bank of Greece (NBG) and Tiffany.
Dow ( DJIA ) Close - 10213.62 -57.59
Nasdaq Close - 2179.76 +0.81
S&P 500 Close – 1071.69 -3.94
Commodities Closing Prices – 8/20/10
Gold Close - 1227.20
Oil Close – 73.46
Natural Gas – 4.12
The Dow lost 58 points to 10213, as investors continued to react to the week's downbeat economic reports that have raised concern about a double-dip recession.
Oil futures for September delivery settled down 97 cents to $73.46 a barrel. Gold for December delivery slipped $6.60 to settle at $1,228.80.
Looking forward next week,
The economic news will continue to challenge. It's a relatively light week for economic reports, but it will be hard to get a lot of cheer from them.
Here's what to look for:
Tuesday: Existing-home sales for July.
Wednesday: Durable-goods orders for July. New-home sales for July.
Thursday: Initial jobless claims.
Friday: Gross-domestic-product growth for the second quarter.
Reuters/Michigan Consumer Sentiment Index for July.
Other reports due next Week include:
Monday: Sanderson Farms (SAFM) and Tuesday Morning (TUES).
Tuesday: Barnes & Noble,Big Lots (BIG)Burger King(BKC) and Medtronic (MDT).
Wednesday: American Eagle Outfitters (AEO), BHP Billiton (BHP), brewer Heineken (HINKY).
Thursday: Bebe Stores (BEBE), Credit Agricole (CRARY) and Bank of China (BACHY).
Friday: National Bank of Greece (NBG) and Tiffany.
Thursday, August 19, 2010
Market Summary 8/19/2010
Stock Market Closing Prices – 8/19/10
Dow ( DJIA ) Close - 10271.21 -144.33
Nasdaq Close - 2178.95 -36.75
S&P 500 Close – 1075.63 -18.53
Commodities Closing Prices – 8/19/10
Gold Close - 1232.50
Oil Close – 74.55
Natural Gas – 4.17
The Dow tumbled 144 points to 10271, as investors were hit by bad economic news Thursday: manufacturing still stinks, more people are jobless and confidence in the future is less than hoped.
At the the end of day, however, the terror subsided somewhat. So, the market finished badly but at least off its lows of the day.
Today’s highlights: Intel will buy security software maker McAfee. Interest rates fall. Dell earnings disappoint.
Oil futures for September delivery slipped 99 cents to settle at $74.43 a barrel. Gold for December delivery rose $4 to settle at $1,235.40.
The S&P 500 has a technical breakdown. The index has found support at between 1,060 and 1,070, however. It's not clear if that support will hold on Friday.
After the bell, HPQ reported quarterly earnings and sales that strongly topped its year-ago results.
Futures trading actually suggest stocks could open higher Friday morning.
Economic Calendar Data: 8/20/2010
AnnTaylor to report quarterly results before market open.
Hormel Foods is set to report quarterly results before market open.
Dow ( DJIA ) Close - 10271.21 -144.33
Nasdaq Close - 2178.95 -36.75
S&P 500 Close – 1075.63 -18.53
Commodities Closing Prices – 8/19/10
Gold Close - 1232.50
Oil Close – 74.55
Natural Gas – 4.17
The Dow tumbled 144 points to 10271, as investors were hit by bad economic news Thursday: manufacturing still stinks, more people are jobless and confidence in the future is less than hoped.
At the the end of day, however, the terror subsided somewhat. So, the market finished badly but at least off its lows of the day.
Today’s highlights: Intel will buy security software maker McAfee. Interest rates fall. Dell earnings disappoint.
Oil futures for September delivery slipped 99 cents to settle at $74.43 a barrel. Gold for December delivery rose $4 to settle at $1,235.40.
The S&P 500 has a technical breakdown. The index has found support at between 1,060 and 1,070, however. It's not clear if that support will hold on Friday.
After the bell, HPQ reported quarterly earnings and sales that strongly topped its year-ago results.
Futures trading actually suggest stocks could open higher Friday morning.
Economic Calendar Data: 8/20/2010
AnnTaylor to report quarterly results before market open.
Hormel Foods is set to report quarterly results before market open.
Wednesday, August 18, 2010
Market Summary 8/18/2010
Stock Market Closing Prices – 8/18/10
Dow ( DJIA ) Close - 10415.54 +9.69
Nasdaq Close - 2215.70 +6.26
S&P 500 Close – 1094.16 +1.62
Commodities Closing Prices – 8/18/10
Gold Close - 1229.70
Oil Close – 75.30
Natural Gas – 4.24
The Dow is up 10 points to 10416, as no major economic releases on Wednesday.
The blue chips had been down as many as 76 points and up as many as 66 points. Finally, the market recovered all of its early losses. But the rally appeared to lose steam near the close.
Target reported better-than-expected quarterly result which cheers investors. Just before the close , GM files to go public.
Crude oil was down 35 cents to $75.32 a barrel. Gold for December delivery settled up $3.10 to $1,231.40 an ounce.
All eyes tomorrow will be on the weekly initial jobless claims.
Economic Calendar Data: 8/19/2010
U.S. weekly jobless claims. 8:30 a.m.
Sears /Williams-Sonoma.. is set to report quarterly results before market open.
HPQ / Dell.. is scheduled to report quarterly results after market close.
Dow ( DJIA ) Close - 10415.54 +9.69
Nasdaq Close - 2215.70 +6.26
S&P 500 Close – 1094.16 +1.62
Commodities Closing Prices – 8/18/10
Gold Close - 1229.70
Oil Close – 75.30
Natural Gas – 4.24
The Dow is up 10 points to 10416, as no major economic releases on Wednesday.
The blue chips had been down as many as 76 points and up as many as 66 points. Finally, the market recovered all of its early losses. But the rally appeared to lose steam near the close.
Target reported better-than-expected quarterly result which cheers investors. Just before the close , GM files to go public.
Crude oil was down 35 cents to $75.32 a barrel. Gold for December delivery settled up $3.10 to $1,231.40 an ounce.
All eyes tomorrow will be on the weekly initial jobless claims.
Economic Calendar Data: 8/19/2010
U.S. weekly jobless claims. 8:30 a.m.
Sears /Williams-Sonoma.. is set to report quarterly results before market open.
HPQ / Dell.. is scheduled to report quarterly results after market close.
Tuesday, August 17, 2010
Warning, bear market 2010..
Warning, bear market 2010: 11 'sells.' Only 6 'buys'
New Normal: Bankrupt nation. Deflation. Zeros. Junk. No jobs. Depression
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New Normal: Bankrupt nation. Deflation. Zeros. Junk. No jobs. Depression
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Dow Rallies Over 100 Points
After several days of depressing stock market action for the bulls, they finally got a win.
But first, the scoreboard:
Dow: +104
NASDAQ: +27
S&P 500: +13
And now, the day's top stories:
The big story of the day was the news that miner BHP Billiton had made an unsolicited offer for Potash (fertilizer) for $34 billion (a 16% premium to the Monday close). Potash rejected the offer, but it's stock shot up well beyond the buyout offer, bringing along with it several other names, including Mosaic and Intrepid Potash. Potash explained here why it's rejecting the deal >
Officially making this a "Merger Tuesday" was the announced deal between Reynolds and Pactiv.
Also good news: Spain and Ireland held successful debt auctions today, allaying fears for now.
The macro data was mixed. New housing starts came in below expectations, but industrial production and capacity utilization were both solid. The PPI was also inflationary, so that's good.
Meanwhile, both Wal-Mart and Lowe's reported decent earnings, also helping things.
source:businessinsider
But first, the scoreboard:
Dow: +104
NASDAQ: +27
S&P 500: +13
And now, the day's top stories:
The big story of the day was the news that miner BHP Billiton had made an unsolicited offer for Potash (fertilizer) for $34 billion (a 16% premium to the Monday close). Potash rejected the offer, but it's stock shot up well beyond the buyout offer, bringing along with it several other names, including Mosaic and Intrepid Potash. Potash explained here why it's rejecting the deal >
Officially making this a "Merger Tuesday" was the announced deal between Reynolds and Pactiv.
Also good news: Spain and Ireland held successful debt auctions today, allaying fears for now.
The macro data was mixed. New housing starts came in below expectations, but industrial production and capacity utilization were both solid. The PPI was also inflationary, so that's good.
Meanwhile, both Wal-Mart and Lowe's reported decent earnings, also helping things.
source:businessinsider
Market Summary 8/17/2010
Stock Market Closing Prices – 8/17/10
Dow ( DJIA ) Close - 10405.85 +103.84
Nasdaq Close - 2209.44 +27.57
S&P 500 Close – 1092.54 +13.16
Commodities Closing Prices – 8/17/10
Gold Close - 1226.60
Oil Close – 75.53
Natural Gas – 4.27
The Dow rose 104 points to 10406 , as the stock rallied on a better-than-expected PPI number as well as merger and acquisition news.
Stocks took off this morning and appeared headed toward a really big finish. But the rally faded a bit in the last hour or so of trading, leaving investors wondering if the gains will continue.It was a broad rally undermined by one issue: relatively low volume.
Home Depot and Wal-Mart earnings cheer investors, they both beat street estimates, even if revenue wasn’t as strong as expected.
BHP Billition (BHP) offered to buy Potash Corp (POT), but Potash of Saskatchewan says a $38 billion offer is too low.
Oil futures for September delivery rose 53 cents to settle at $75.77 a barrel. Gold futures for December delivery increased $2.10 to settle at $1,228.30 an ounce.
The Economic Calendar Data: 8/18/2010
Crude Inventories 10:30 a.m.
Target(TGT) is set to report quarterly results before market open.
Deere(DE) is slated to report quarterly results before market open.
Dow ( DJIA ) Close - 10405.85 +103.84
Nasdaq Close - 2209.44 +27.57
S&P 500 Close – 1092.54 +13.16
Commodities Closing Prices – 8/17/10
Gold Close - 1226.60
Oil Close – 75.53
Natural Gas – 4.27
The Dow rose 104 points to 10406 , as the stock rallied on a better-than-expected PPI number as well as merger and acquisition news.
Stocks took off this morning and appeared headed toward a really big finish. But the rally faded a bit in the last hour or so of trading, leaving investors wondering if the gains will continue.It was a broad rally undermined by one issue: relatively low volume.
Home Depot and Wal-Mart earnings cheer investors, they both beat street estimates, even if revenue wasn’t as strong as expected.
BHP Billition (BHP) offered to buy Potash Corp (POT), but Potash of Saskatchewan says a $38 billion offer is too low.
Oil futures for September delivery rose 53 cents to settle at $75.77 a barrel. Gold futures for December delivery increased $2.10 to settle at $1,228.30 an ounce.
The Economic Calendar Data: 8/18/2010
Crude Inventories 10:30 a.m.
Target(TGT) is set to report quarterly results before market open.
Deere(DE) is slated to report quarterly results before market open.
Monday, August 16, 2010
Berkshire Doubles J&J Stake; Soros Fund Drops 42%
Berkshire's quarterly disclosure of its $46.4 billion U.S. equity portfolio shows the company's holdings as of June 30. Berkshire's stakes in American Express Co., Coca-Cola Co. and Wells Fargo & Co. remained unchanged. Mr. Buffett's firm is the largest shareholder in each.
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Soros Fund Management reduced its positions in AT&T Inc. and J.P. Morgan Chase & Co., selling 4.1 million shares and 2.5 million shares of the firms, respectively. Mr. Soros's stake in AT&T is now at $12.2 million, and J.P. Morgan at $3.9 million.
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Soros Fund Management reduced its positions in AT&T Inc. and J.P. Morgan Chase & Co., selling 4.1 million shares and 2.5 million shares of the firms, respectively. Mr. Soros's stake in AT&T is now at $12.2 million, and J.P. Morgan at $3.9 million.
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Market Summary 8/16/2010
Stock Market Closing Prices – 8/16/10
Dow ( DJIA ) Close - 10302.01 -1.14
Nasdaq Close - 2181.87 +8.39
S&P 500 Close – 1079.38 -0.13
Commodities Closing Prices – 8/16/10
Gold Close - 1224.50
Oil Close – 75.11
Natural Gas – 4.23
The Dow closed down 1 point to 10302 as investors mulled over dismal economic news from China, a bearish forecast from the Federal Reserve .
Crude oil closed down 15 cents to $75.24. Natural gas, heating oil and unleaded gasoline futures were off as well.
If there was any good news from the market today, it was this: The market came back after dropping heavily right after the open; the Dow was off as many as 94 points at 9:35 a.m. The index was up more than 30 points around 12:35 before fading again.
Futures trading suggests a modestly higher open on Tuesday.
The Economic Calendar Data: 8/17/2010
U.S. housing starts for July. 8:30 a.m.
U.S. producer price index for July. 8:30 a.m.
U.S. industrial production for July. 9:15 a.m.
WalMart is set to report quarterly results before market open.
Home Depot is slated to report quarterly results before market open.
Analog Devices to report quarterly results after market close.
Dow ( DJIA ) Close - 10302.01 -1.14
Nasdaq Close - 2181.87 +8.39
S&P 500 Close – 1079.38 -0.13
Commodities Closing Prices – 8/16/10
Gold Close - 1224.50
Oil Close – 75.11
Natural Gas – 4.23
The Dow closed down 1 point to 10302 as investors mulled over dismal economic news from China, a bearish forecast from the Federal Reserve .
Crude oil closed down 15 cents to $75.24. Natural gas, heating oil and unleaded gasoline futures were off as well.
If there was any good news from the market today, it was this: The market came back after dropping heavily right after the open; the Dow was off as many as 94 points at 9:35 a.m. The index was up more than 30 points around 12:35 before fading again.
Futures trading suggests a modestly higher open on Tuesday.
The Economic Calendar Data: 8/17/2010
U.S. housing starts for July. 8:30 a.m.
U.S. producer price index for July. 8:30 a.m.
U.S. industrial production for July. 9:15 a.m.
WalMart is set to report quarterly results before market open.
Home Depot is slated to report quarterly results before market open.
Analog Devices to report quarterly results after market close.
Sunday, August 15, 2010
Next Week's Economic Report
Monday:
8:30 AM ET: Empire State Manufacturing Survey (August). This index fell sharply over the last few months, although it still showed expansion. The consensus is for a slight increase in August to 8.0 from 5.1 in July.
10 AM: The August NAHB homebuilder survey. This index has collapsed since the expiration of the home buyer tax credit. The consensus is for a slight increase to 15 from 14 in July (still very depressed).
Tuesday:
8:30 AM: Housing Starts for July. Housing starts collapsed in June following the expiration of the tax credit. The consensus is for a slight increase to 565K (SAAR) in July from 549K in June.
8:30 AM: Producer Price Index for July. The consensus is for a 0.2% increase, and +0.1% for core PPI.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for July. The consensus is for a 0.5% increase in Industrial Production, and an increase to 74.5% (from 74.1%) for Capacity Utilization.
9:00 AM to 1:30 PM: Conference on the Future of Housing Finance. According to the agenda: "This event will provide a forum for public input as the Administration continues its work developing a comprehensive housing finance reform proposal for delivery to Congress by January 2011."
12:30 PM: Minneapolis Fed President Narayana Kocherlakota speaks about the FOMC at Northern University of Michigan.
Note: The Q2 Quarterly Starts and Completions by Purpose and Design will also be released
Wednesday:
Early: The AIA's Architecture Billings Index for July will be released (a leading indicator for commercial real estate). This has been showing ongoing contraction, and usually this leads investment in non-residential structures (hotels, malls, office) by 9 to 12 months.
7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index declined sharply following the expiration of the tax credit, and the index has only recovered slightly over the last few weeks - suggesting reported home sales in July and August will be very weak.
Thursday:
8:30 AM: The initial weekly unemployment claims report will be released. Consensus is for a slight decrease to 480K from 484K last week. If so, this will push the 4-week average to the highest level this year.
10:00 AM: Conference Board's index of leading indicators for July. The consensus is for a 0.1% increase in this index.
10:00 AM: Philly Fed Survey for August. This survey declined sharply over the last two months, although was still showing expansion (at a slower pace). The consensus is for a slight increase to 7.0 from 5.1 in July (still expanding, but slowly).
Lunch: St Louis Federal President James Bullard speaks on the economic outlook, and Chicago Fed President Charles Evans speaks to reporters.
Friday:
10:00 AM: the BLS will release the Regional and State Employment and Unemployment report for June.
After 4:00 PM: The FDIC will probably have another busy Friday afternoon ...
8:30 AM ET: Empire State Manufacturing Survey (August). This index fell sharply over the last few months, although it still showed expansion. The consensus is for a slight increase in August to 8.0 from 5.1 in July.
10 AM: The August NAHB homebuilder survey. This index has collapsed since the expiration of the home buyer tax credit. The consensus is for a slight increase to 15 from 14 in July (still very depressed).
Tuesday:
8:30 AM: Housing Starts for July. Housing starts collapsed in June following the expiration of the tax credit. The consensus is for a slight increase to 565K (SAAR) in July from 549K in June.
8:30 AM: Producer Price Index for July. The consensus is for a 0.2% increase, and +0.1% for core PPI.
9:15 AM: The Fed will release Industrial Production and Capacity Utilization for July. The consensus is for a 0.5% increase in Industrial Production, and an increase to 74.5% (from 74.1%) for Capacity Utilization.
9:00 AM to 1:30 PM: Conference on the Future of Housing Finance. According to the agenda: "This event will provide a forum for public input as the Administration continues its work developing a comprehensive housing finance reform proposal for delivery to Congress by January 2011."
12:30 PM: Minneapolis Fed President Narayana Kocherlakota speaks about the FOMC at Northern University of Michigan.
Note: The Q2 Quarterly Starts and Completions by Purpose and Design will also be released
Wednesday:
Early: The AIA's Architecture Billings Index for July will be released (a leading indicator for commercial real estate). This has been showing ongoing contraction, and usually this leads investment in non-residential structures (hotels, malls, office) by 9 to 12 months.
7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index declined sharply following the expiration of the tax credit, and the index has only recovered slightly over the last few weeks - suggesting reported home sales in July and August will be very weak.
Thursday:
8:30 AM: The initial weekly unemployment claims report will be released. Consensus is for a slight decrease to 480K from 484K last week. If so, this will push the 4-week average to the highest level this year.
10:00 AM: Conference Board's index of leading indicators for July. The consensus is for a 0.1% increase in this index.
10:00 AM: Philly Fed Survey for August. This survey declined sharply over the last two months, although was still showing expansion (at a slower pace). The consensus is for a slight increase to 7.0 from 5.1 in July (still expanding, but slowly).
Lunch: St Louis Federal President James Bullard speaks on the economic outlook, and Chicago Fed President Charles Evans speaks to reporters.
Friday:
10:00 AM: the BLS will release the Regional and State Employment and Unemployment report for June.
After 4:00 PM: The FDIC will probably have another busy Friday afternoon ...
Friday, August 13, 2010
Market Summary 8/13/2010
Stock Market Closing Prices – 8/13/10
Dow ( DJIA ) Close - 10303.15 -16.80
Nasdaq Close - 2171.48 -16.79
S&P 500 Close – 1079.25 -4.36
Commodities Closing Prices – 8/13/10
Gold Close - 1214.90
Oil Close – 75.39
Natural Gas – 4.33
Stocks fell for a a fourth straight day as investors continued to worry that a fading economy would unleash a wave of deflation.
The Dow fell nearly 17 points to 10303.
Trading volume today was light, as it was all week -- a pretty clear signal that much of the investment community may be on vacation. Traders who were working had little reason to make any major moves because of economic data that remains confusing.
But, if you're a bull, you have to be concerned. A lower close on Friday can translate into a weak open on Monday.
Meanwhile, crude oil was down 35 cents to $75.39. Gold finished down a dime at $1,216.60 an ounce but up 0.6% for the week.
Next week features earnings reports from Wal-Mart (WMT), Target (TGT), Home Depot (HD), Lowe's LOW) and Deere (DE).
Dow ( DJIA ) Close - 10303.15 -16.80
Nasdaq Close - 2171.48 -16.79
S&P 500 Close – 1079.25 -4.36
Commodities Closing Prices – 8/13/10
Gold Close - 1214.90
Oil Close – 75.39
Natural Gas – 4.33
Stocks fell for a a fourth straight day as investors continued to worry that a fading economy would unleash a wave of deflation.
The Dow fell nearly 17 points to 10303.
Trading volume today was light, as it was all week -- a pretty clear signal that much of the investment community may be on vacation. Traders who were working had little reason to make any major moves because of economic data that remains confusing.
But, if you're a bull, you have to be concerned. A lower close on Friday can translate into a weak open on Monday.
Meanwhile, crude oil was down 35 cents to $75.39. Gold finished down a dime at $1,216.60 an ounce but up 0.6% for the week.
Next week features earnings reports from Wal-Mart (WMT), Target (TGT), Home Depot (HD), Lowe's LOW) and Deere (DE).
Thursday, August 12, 2010
Market Summary 8/12/2010
Stock Market Closing Prices – 8/12/10
Dow ( DJIA ) Close - 10319.95 -58.88
Nasdaq Close - 2190.27 -18.36
S&P 500 Close – 1083.61 -5.86
Commodities Closing Prices – 8/12/10
Gold Close - 1215.40
Oil Close – 76.64
Natural Gas – 4.30
The Dow falls 59 points to 10320.
The major indexes move lower as Cisco's earnings disappoint and jobless claims rise.
General Motors reports a profit, but CEO Whitacre will step aside.
The S&P 500 finished three points below its 50-day moving average of 1,087, a key technical sign of investor confidence. But the index had fallen to as low as 1,077.
As stocks moved lower, a combination of falling share prices, economic worries and a rising dollar pushed energy prices lower. Crude oil settled down $2.28 to $75.74 a barrel.
Winners are hard to find, but Gold, airline and biotechnology stocks were the market leaders this afternoon. Gold shares moved up as investors sought safety from the world's economic woes. Airlines were higher as crude oil moved lower.
The Economic Calendar Data: 8/13/10
U.S. retail sales / CPI data for July is released. 8:30 a.m.
University of Michigan preliminary consumer confidence for August. 10 a.m.
JC Penney is scheduled to report quarterly results before market open.
Dow ( DJIA ) Close - 10319.95 -58.88
Nasdaq Close - 2190.27 -18.36
S&P 500 Close – 1083.61 -5.86
Commodities Closing Prices – 8/12/10
Gold Close - 1215.40
Oil Close – 76.64
Natural Gas – 4.30
The Dow falls 59 points to 10320.
The major indexes move lower as Cisco's earnings disappoint and jobless claims rise.
General Motors reports a profit, but CEO Whitacre will step aside.
The S&P 500 finished three points below its 50-day moving average of 1,087, a key technical sign of investor confidence. But the index had fallen to as low as 1,077.
As stocks moved lower, a combination of falling share prices, economic worries and a rising dollar pushed energy prices lower. Crude oil settled down $2.28 to $75.74 a barrel.
Winners are hard to find, but Gold, airline and biotechnology stocks were the market leaders this afternoon. Gold shares moved up as investors sought safety from the world's economic woes. Airlines were higher as crude oil moved lower.
The Economic Calendar Data: 8/13/10
U.S. retail sales / CPI data for July is released. 8:30 a.m.
University of Michigan preliminary consumer confidence for August. 10 a.m.
JC Penney is scheduled to report quarterly results before market open.
Wednesday, August 11, 2010
4 Top Homebuilder Stocks
While new home demand remains at "abysmal" levels relative to the sharp fall-off experienced during the recession, homebuilders' profitability and liquidity positions strengthened dramatically, Sood continued. He attributed the improvements to the companies' ability to cut expenses, limit spec builds and redesign products.
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Market Summary 8/11/2010
Stock Market Closing Prices – 8/11/10
Dow ( DJIA ) Close - 10378.83 -265.42
Nasdaq Close - 2208.63 -68.54
S&P 500 Close – 1089.47 -31.59
Commodities Closing Prices – 8/11/10
Gold Close - 1196.20
Oil Close – 79.89
Natural Gas – 4.34
The Dow falls 265 points to 10379.
Stocks dropped sharply lower Wednesday after a report showed the U.S. trade gap widened, and investors worry about overseas demand for American goods.
Traders fret about Chinese growth and the Fed's concession that the economy is slowing.
Macy's rises on strong earnings. Cisco results disappoint after close.
With today's close, the Dow is down 0.5% for 2010, with the S&P 500 off 2.3% and the Nasdaq down 2.7%. Give up 2010 gains! Markets around the world have struggled in 2010 after the big 2009 rally.
The Economic Calendar Data: 8/12/10
U.S. weekly jobless claims at the Labor Department. 8:30 a.m.
Kohl's is scheduled to report quarterly results before market open.
Nordstrom is set to report quarterly results after market close.
Dow ( DJIA ) Close - 10378.83 -265.42
Nasdaq Close - 2208.63 -68.54
S&P 500 Close – 1089.47 -31.59
Commodities Closing Prices – 8/11/10
Gold Close - 1196.20
Oil Close – 79.89
Natural Gas – 4.34
The Dow falls 265 points to 10379.
Stocks dropped sharply lower Wednesday after a report showed the U.S. trade gap widened, and investors worry about overseas demand for American goods.
Traders fret about Chinese growth and the Fed's concession that the economy is slowing.
Macy's rises on strong earnings. Cisco results disappoint after close.
With today's close, the Dow is down 0.5% for 2010, with the S&P 500 off 2.3% and the Nasdaq down 2.7%. Give up 2010 gains! Markets around the world have struggled in 2010 after the big 2009 rally.
The Economic Calendar Data: 8/12/10
U.S. weekly jobless claims at the Labor Department. 8:30 a.m.
Kohl's is scheduled to report quarterly results before market open.
Nordstrom is set to report quarterly results after market close.
Tuesday, August 10, 2010
A Broader View of the Market
So why the violent market swings from negative to "less" negative? Cramer said it all depends on perspective.
For many investors, and pundits alike, when they think about the market, they think about the U.S. Yet as UPS (UPS) noted on their conference call, 96% of all consumers live outside the U.S. UPS is seeing strong growth overseas, but little growth in its U.S. small or midsize business customers.
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For many investors, and pundits alike, when they think about the market, they think about the U.S. Yet as UPS (UPS) noted on their conference call, 96% of all consumers live outside the U.S. UPS is seeing strong growth overseas, but little growth in its U.S. small or midsize business customers.
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Market Summary 8/10/2010
Stock Market Closing Prices – 8/10/10
Dow ( DJIA ) Close - 10644.25 -54.50
Nasdaq Close - 2277.17 -28.52
S&P 500 Close – 1121.06 -6.73
Commodities Closing Prices – 8/10/10
Gold Close - 1196.20
Oil Close – 79.89
Natural Gas – 4.31
After falling as much as 147 points earlier in the session, the Dow was off 53 points, to close at 10,644.86, after the FED said it is willing to expand its holdings of government debt in a bid to keep the economy from falling back into recession.
The central bank says it will keep rates low and continue to make cash available if the economy fades. Stocks bounce off their lows.
After close, Disney reported better-than-expected results, the shares up to $35.70 after hours.
Intel and JC Penney fall on downgrades. Intel shares closed 4% lower.
Crude oil settled down $1.23 to $80.25. Gold closed down $4.60 to $1,198 an ounce.
Future trading suggest tomorrow open lower.
The Economic Calendar Data: 8/11/2010
U.S. trade balance for June is released. 9 a.m.
U.S. federal budget balance is released. 2 p.m.
Macy's is scheduled to report quarterly results before market open.
Cisco Systems is scheduled to report its quarterly results after market close.
Dow ( DJIA ) Close - 10644.25 -54.50
Nasdaq Close - 2277.17 -28.52
S&P 500 Close – 1121.06 -6.73
Commodities Closing Prices – 8/10/10
Gold Close - 1196.20
Oil Close – 79.89
Natural Gas – 4.31
After falling as much as 147 points earlier in the session, the Dow was off 53 points, to close at 10,644.86, after the FED said it is willing to expand its holdings of government debt in a bid to keep the economy from falling back into recession.
The central bank says it will keep rates low and continue to make cash available if the economy fades. Stocks bounce off their lows.
After close, Disney reported better-than-expected results, the shares up to $35.70 after hours.
Intel and JC Penney fall on downgrades. Intel shares closed 4% lower.
Crude oil settled down $1.23 to $80.25. Gold closed down $4.60 to $1,198 an ounce.
Future trading suggest tomorrow open lower.
The Economic Calendar Data: 8/11/2010
U.S. trade balance for June is released. 9 a.m.
U.S. federal budget balance is released. 2 p.m.
Macy's is scheduled to report quarterly results before market open.
Cisco Systems is scheduled to report its quarterly results after market close.
Monday, August 9, 2010
How to own great stocks
He explained that a high share price does not mean a stock is too expensive.
Consider Goldman Sachs (GS) and Apple (AAPL), two stocks which Cramer owns for his charitable trust, Action Alerts PLUS, along with Google (GOOG), Amazon.com (AMZN) and Chipotle Mexican Grill (CMG). Cramer said these triple-digit share prices may seem terrifying, but on a price-to-earnings
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Consider Goldman Sachs (GS) and Apple (AAPL), two stocks which Cramer owns for his charitable trust, Action Alerts PLUS, along with Google (GOOG), Amazon.com (AMZN) and Chipotle Mexican Grill (CMG). Cramer said these triple-digit share prices may seem terrifying, but on a price-to-earnings
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Think of Big Pictures
Inside Wall Street: Why Investors Need to Look Beyond Daily Headlines
Investors love to worry, and who could blame them these days? Intensified volatility continues to harass even some of the more astute market players. Investors are afflicted in these uncertain times with a common malady: Obsessive impatience. The question always boils down to what to do -- now. Good things must happen fast: global economic recovery, employment rebound and a soaring Dow.
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Investors love to worry, and who could blame them these days? Intensified volatility continues to harass even some of the more astute market players. Investors are afflicted in these uncertain times with a common malady: Obsessive impatience. The question always boils down to what to do -- now. Good things must happen fast: global economic recovery, employment rebound and a soaring Dow.
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Read
Market Summary 8/09/2010
Stock Market Closing Prices – 8/09/10
Dow ( DJIA ) Close - 10653.56 -21.42
Nasdaq Close - 2288.47 -4.59
S&P 500 Close – 1121.64 -4.17
Commodities Closing Prices – 8/09/10
Gold Close - 1203.40
Oil Close – 80.70
Natural Gas – 4.31
The Dow is up 45 points to 10699.
Stocks ended higher Monday ahead of an important FED decision on what to do about the economy.
Volume was very low today. Trading on the floor of the NY Stock Exchange didn't come close to hitting even 700 million shares.
Cisco Systems and McDonald's help the Dow gain 45 points. Hewlett-Packard struggles. Crude oil moved higher, and gold drifted lower!
The best bet: The Fed will start a new round of adding cash into the credit system to prevent the economy from sinking into recession.
The Economic Calendar Data: 8/10/2010
FOMC meeting statement to be released at 2:15 p.m.
Second-quarter productivity at the Labor Department. 8:30 a.m.
International Power PLC is set to report quarterly results before market open.
Walt Disney is scheduled to report its quarterly results after market close.
Dow ( DJIA ) Close - 10653.56 -21.42
Nasdaq Close - 2288.47 -4.59
S&P 500 Close – 1121.64 -4.17
Commodities Closing Prices – 8/09/10
Gold Close - 1203.40
Oil Close – 80.70
Natural Gas – 4.31
The Dow is up 45 points to 10699.
Stocks ended higher Monday ahead of an important FED decision on what to do about the economy.
Volume was very low today. Trading on the floor of the NY Stock Exchange didn't come close to hitting even 700 million shares.
Cisco Systems and McDonald's help the Dow gain 45 points. Hewlett-Packard struggles. Crude oil moved higher, and gold drifted lower!
The best bet: The Fed will start a new round of adding cash into the credit system to prevent the economy from sinking into recession.
The Economic Calendar Data: 8/10/2010
FOMC meeting statement to be released at 2:15 p.m.
Second-quarter productivity at the Labor Department. 8:30 a.m.
International Power PLC is set to report quarterly results before market open.
Walt Disney is scheduled to report its quarterly results after market close.
Sunday, August 8, 2010
Are We In a Recession Or Not?
“Everyone agrees that the recession is over.” - Larry Summers, director of the National Economic Council
“Of course not.” - Outgoing Council of Economic Advisers Chairwoman Christina Romer, when asked if the recession was over.
The two senior White House economic advisers made their comments on the same day.
It’s getting harder and harder to read the tea leaves with regard to Barack Obama’s economic team, which in recent weeks has seen two fairly major resignations – the above-quoted Council of Economic Advisers chairwoman Romer, and budget director Pete Orszag, two very different people with different views on the economy.
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“Of course not.” - Outgoing Council of Economic Advisers Chairwoman Christina Romer, when asked if the recession was over.
The two senior White House economic advisers made their comments on the same day.
It’s getting harder and harder to read the tea leaves with regard to Barack Obama’s economic team, which in recent weeks has seen two fairly major resignations – the above-quoted Council of Economic Advisers chairwoman Romer, and budget director Pete Orszag, two very different people with different views on the economy.
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If You Want Growth,You Better Not Look to The US
Here's Proof That If You Want Growth, You Better Not Look To The US
This chart, from a Morgan Stanley report on what happened during earnings seasons, says it all.
If you're looking for growth, having an international focus, rather than a domestic US focus, is the way to go.
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This chart, from a Morgan Stanley report on what happened during earnings seasons, says it all.
If you're looking for growth, having an international focus, rather than a domestic US focus, is the way to go.
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Apple Reportedly Orders CDMA Chips for December Production Run of Verizon iPhone
Yes, it's the subject that's been beaten to death: a Verizon iPhone. The ongoing rumors have been stoked in recent weeks by a claim from Bloomberg that the device will launch in January, with this week's announcement that Verizon CEO Ivan Seidenberg will offer the keynote address at CES 2011 sparking speculation that an iPhone introduction could occur there.
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Next Week's Report
Monday: There are no economic reports on the agenda.
ER:
King Pharmaceuticals(KG), MDR, LINTA
Tuesday: The Federal Reserve will issue a policy statement in the afternoon. The central bank is widely expected to leave its benchmark federal funds rate in a range of 0 to 0.25%, where it has been since December 2008.
A report on wholesale inventories is due shortly after the market opens.
ER: DIS , IHG
Wednesday: The government reports on the U.S. trade deficit before the opening bell.
In the afternoon, the Treasury Department is slated to release its July budget numbers. Economists expect a deficit of $169 billion in the month after $180.7 billion shortfall in June.
ER:
DIS, CSCO
Thursday: The Department of Labor releases weekly jobless claims figures in the morning.
Reports on July export and import prices also come out before the opening bell.
ER:
JWN, BUD, ADSK
Friday:
Investors will take in top-tier reports on inflation, retail sales and consumer sentiment in the morning.
After the market opens, the University of Michigan Consumer Sentiment Index for early August is expected to edge up to 70 from 67.80.
ER:
PBRQF, JCP
ER:
King Pharmaceuticals(KG), MDR, LINTA
Tuesday: The Federal Reserve will issue a policy statement in the afternoon. The central bank is widely expected to leave its benchmark federal funds rate in a range of 0 to 0.25%, where it has been since December 2008.
A report on wholesale inventories is due shortly after the market opens.
ER: DIS , IHG
Wednesday: The government reports on the U.S. trade deficit before the opening bell.
In the afternoon, the Treasury Department is slated to release its July budget numbers. Economists expect a deficit of $169 billion in the month after $180.7 billion shortfall in June.
ER:
DIS, CSCO
Thursday: The Department of Labor releases weekly jobless claims figures in the morning.
Reports on July export and import prices also come out before the opening bell.
ER:
JWN, BUD, ADSK
Friday:
Investors will take in top-tier reports on inflation, retail sales and consumer sentiment in the morning.
After the market opens, the University of Michigan Consumer Sentiment Index for early August is expected to edge up to 70 from 67.80.
ER:
PBRQF, JCP
Friday, August 6, 2010
Market Summary 8/06/2010
Stock Market Closing Prices – 8/06/10
Dow ( DJIA ) Close - 10653.56 -21.42
Nasdaq Close - 2288.47 -4.59
S&P 500 Close – 1121.64 -4.17
Commodities Closing Prices – 8/06/10
Gold Close - 1203.40
Oil Close – 80.70
Natural Gas – 4.47
The Dow fell 21 points to 10675.
Friday was a wild and crazy day. Stocks plunged after a disappointing jobs report, then nearly recovered all of their losses.
Better-than-expected corporate earnings helped boost the Dow 7% in July, which was the best month for stocks in a year. But the cloudy outlook for the U.S. economy has weighed on the market so far in August, which is historically a bad month for Wall Street.
Friday's jobs report raised speculation that the government may take additional steps to shore up the recovery as previous economic stimulus measures fade.
Next Week:
The Fed will decide whether another round of stimulus is in order. Cisco Systems, Macy's, Disney and JC Penney will report quarterly results.
Dow ( DJIA ) Close - 10653.56 -21.42
Nasdaq Close - 2288.47 -4.59
S&P 500 Close – 1121.64 -4.17
Commodities Closing Prices – 8/06/10
Gold Close - 1203.40
Oil Close – 80.70
Natural Gas – 4.47
The Dow fell 21 points to 10675.
Friday was a wild and crazy day. Stocks plunged after a disappointing jobs report, then nearly recovered all of their losses.
Better-than-expected corporate earnings helped boost the Dow 7% in July, which was the best month for stocks in a year. But the cloudy outlook for the U.S. economy has weighed on the market so far in August, which is historically a bad month for Wall Street.
Friday's jobs report raised speculation that the government may take additional steps to shore up the recovery as previous economic stimulus measures fade.
Next Week:
The Fed will decide whether another round of stimulus is in order. Cisco Systems, Macy's, Disney and JC Penney will report quarterly results.
Thursday, August 5, 2010
38 Billionaires Donate Their Fortunes
MSNBC reports 38 American billionaires joined The Giving Pledge, an effort established by Bill Gates and Warren Buffett to convince the wealthy to donate at least half of their money to charity. Famous names on the list include Michael Bloomberg, George Lucas and Ted Turner. Of course Gates and Buffett are donating the vast majority of their fortunes as well.
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Market Summary 8/05/2010
Stock Market Closing Prices – 8/05/10
Dow ( DJIA ) Close - 10674.98 -5.45
Nasdaq Close - 2293.06 -10.51
S&P 500 Close – 1125.81 -1.43
Commodities Closing Prices – 8/05/10
Gold Close - 1195.90
Oil Close – 82.07
Natural Gas – 4.60
The Dow closed down 5 points to 10675.
Stocks pulled back very slightly today in relatively light trading as Wall Street awaited the Friday jobs and unemployment report.
The major indexes post minor losses. Wheat soars after Russia stops grain exports. Analysts see US unemployment rising to 9.6% in July. Retailers report tepid July sales.
Crude oil settled down 46 cents to $82.01 a barrel. Gold settled up $3.40 to $1,199.30 an ounce.
Modest movement the day before a jobs report is fairly typical. No trader wants to make a bet that will go sour the next day, especially when improvements in the job market are so frustratingly slow.
Economic Calendar Data 8/06/2010
Nonfarm Payrolls - 8:30am EST
Dow ( DJIA ) Close - 10674.98 -5.45
Nasdaq Close - 2293.06 -10.51
S&P 500 Close – 1125.81 -1.43
Commodities Closing Prices – 8/05/10
Gold Close - 1195.90
Oil Close – 82.07
Natural Gas – 4.60
The Dow closed down 5 points to 10675.
Stocks pulled back very slightly today in relatively light trading as Wall Street awaited the Friday jobs and unemployment report.
The major indexes post minor losses. Wheat soars after Russia stops grain exports. Analysts see US unemployment rising to 9.6% in July. Retailers report tepid July sales.
Crude oil settled down 46 cents to $82.01 a barrel. Gold settled up $3.40 to $1,199.30 an ounce.
Modest movement the day before a jobs report is fairly typical. No trader wants to make a bet that will go sour the next day, especially when improvements in the job market are so frustratingly slow.
Economic Calendar Data 8/06/2010
Nonfarm Payrolls - 8:30am EST
Wednesday, August 4, 2010
Market Wants To Go Hogher
"This market is hard to kill," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.
He said the markets have been surprisingly resilient given the prospects of a bad unemployment number
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He said the markets have been surprisingly resilient given the prospects of a bad unemployment number
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Market Summary 8/04/2010
Stock Market Closing Prices – 8/04/10
Dow ( DJIA ) Close - 10680.43 +44.05
Nasdaq Close - 2303.57 -20.05
S&P 500 Close – 1127.24 +6.78
Commodities Closing Prices – 8/04/10
Gold Close - 1194.30
Oil Close – 82.21
Natural Gas – 4.72
The Dow is up 44 points to 10680.
Stocks closed higher Wednesday, after trading in a narrow range for most of the day, as investors welcomed improved data on private sector hiring and the services industry.
The online travel company's results blow away estimates. Toyota and Polo Ralph Lauren also rise. Decent reports on private-sector jobs and services cheer investors.
Investors will get another read on the job market Thursday when the government reports weekly initial claims data before the market opens. The retail sector will also be in focus when the nation's top chain stores report same-store-sales figures for July.
Crude oil settled down 8 cents to $82.47 a barrel. Gold rose $8.40 to $1,195.90 an ounce.
Futures trading suggests a flat open for U.S. stocks.
Economic Calendar Data 8/05/2010
Initial Jobless Claims - 8:30am EST
Commerzbank to announce quarterly results. Before market open.
Kraft Food to release quarterly results. After market close.
Dow ( DJIA ) Close - 10680.43 +44.05
Nasdaq Close - 2303.57 -20.05
S&P 500 Close – 1127.24 +6.78
Commodities Closing Prices – 8/04/10
Gold Close - 1194.30
Oil Close – 82.21
Natural Gas – 4.72
The Dow is up 44 points to 10680.
Stocks closed higher Wednesday, after trading in a narrow range for most of the day, as investors welcomed improved data on private sector hiring and the services industry.
The online travel company's results blow away estimates. Toyota and Polo Ralph Lauren also rise. Decent reports on private-sector jobs and services cheer investors.
Investors will get another read on the job market Thursday when the government reports weekly initial claims data before the market opens. The retail sector will also be in focus when the nation's top chain stores report same-store-sales figures for July.
Crude oil settled down 8 cents to $82.47 a barrel. Gold rose $8.40 to $1,195.90 an ounce.
Futures trading suggests a flat open for U.S. stocks.
Economic Calendar Data 8/05/2010
Initial Jobless Claims - 8:30am EST
Commerzbank to announce quarterly results. Before market open.
Kraft Food to release quarterly results. After market close.
Tuesday, August 3, 2010
Stocks Walk Over Treasuries
Cramer said with the yield on a two-year note dropping to an all time low of just 0.51% today, government Treasuries are now an outrageous rip-off, and he wouldn't be a buyer even if they were offered as "buy one, get one." He said while many investors bitten by stocks are flocking to Treasuries, they're simply sacrificing all of their potential upside.
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Market Summary 8/03/2010
Stock Market Closing Prices – 8/03/10
Dow ( DJIA ) Close - 10636.38 -38.00
Nasdaq Close - 2283.52 -11.84
S&P 500 Close – 1120.46 -5.40
Commodities Closing Prices – 8/03/10
Gold Close - 1193.90
Oil Close – 82.26
Natural Gas – 4.64
The Dow is down 38 points to 10636, as profit-taking after Monday's big rally.
Procter & Gamble drags the Dow down 38 points as profits fall from a year ago. July auto sales are mixed. Pending home sales fall. Oil tops $82.
While the market was lower, the S&P 500 was still in the black for the year and was trading above its 200-day moving average. That suggests some market support.
S&P 500 at around 1,120, which hit that level three times since March 2009 and can't seem to move much above it.
Economic Calendar Data 8/04/2010
U.S. ADP employment survey for July. 8:15 a.m.
U.S. ISM non-manufacturing index for July. 10 a.m.
PG&E /Time Warner /AOL to announce quarterly results before market open.
Dow ( DJIA ) Close - 10636.38 -38.00
Nasdaq Close - 2283.52 -11.84
S&P 500 Close – 1120.46 -5.40
Commodities Closing Prices – 8/03/10
Gold Close - 1193.90
Oil Close – 82.26
Natural Gas – 4.64
The Dow is down 38 points to 10636, as profit-taking after Monday's big rally.
Procter & Gamble drags the Dow down 38 points as profits fall from a year ago. July auto sales are mixed. Pending home sales fall. Oil tops $82.
While the market was lower, the S&P 500 was still in the black for the year and was trading above its 200-day moving average. That suggests some market support.
S&P 500 at around 1,120, which hit that level three times since March 2009 and can't seem to move much above it.
Economic Calendar Data 8/04/2010
U.S. ADP employment survey for July. 8:15 a.m.
U.S. ISM non-manufacturing index for July. 10 a.m.
PG&E /Time Warner /AOL to announce quarterly results before market open.
Monday, August 2, 2010
Market Summary 8/02/2010
Stock Market Closing Prices – 8/02/10
Dow ( DJIA ) Close - 10674.38 +208.44
Nasdaq Close - 2295.36 +40.66
S&P 500 Close – 1125.86 +24.26
Commodities Closing Prices – 8/02/10
Gold Close - 1183.30
Oil Close – 81.39
Natural Gas – 4.70
This is a brand new month today. The market was on fire!
The Dow jumps 208 points; the S&P 500 and Nasdaq are ahead in 2010 for the first time since June. Economic reports from China, Europe and the US are better than expected. Oil tops $81.
Looking ahead, investors said the focus may shift later this week from earnings to the economy, particularly the outlook for the U.S. job market.
Futures trading suggests a slightly lower open on Tuesday.
Economic Calendar Data 8/3/2010
U.S. consumer spending for June. 8:30 a.m.
U.S. factory orders for June. 10 a.m.
U.S. pending home sales for June. 10 a.m.
Pfizer/Procter & Gamble /Dow Chemical is to release results for the quarter before market open.
Dow ( DJIA ) Close - 10674.38 +208.44
Nasdaq Close - 2295.36 +40.66
S&P 500 Close – 1125.86 +24.26
Commodities Closing Prices – 8/02/10
Gold Close - 1183.30
Oil Close – 81.39
Natural Gas – 4.70
This is a brand new month today. The market was on fire!
The Dow jumps 208 points; the S&P 500 and Nasdaq are ahead in 2010 for the first time since June. Economic reports from China, Europe and the US are better than expected. Oil tops $81.
Looking ahead, investors said the focus may shift later this week from earnings to the economy, particularly the outlook for the U.S. job market.
Futures trading suggests a slightly lower open on Tuesday.
Economic Calendar Data 8/3/2010
U.S. consumer spending for June. 8:30 a.m.
U.S. factory orders for June. 10 a.m.
U.S. pending home sales for June. 10 a.m.
Pfizer/Procter & Gamble /Dow Chemical is to release results for the quarter before market open.
Sunday, August 1, 2010
Big Investors Fear Deflation
Some of the world's leading investors are becoming more worried about deflation and are re-shaping their portfolios to prepare for a possible period of falling prices.
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Next Week's Report
Monday:
Institute of Supply Management's manufacturing report, due Monday morning.This will show a decline...
Construction spending, due Monday morning from the Commerce Department.This will confirm, in dollar terms, what housing starts and new-home sales data have already. The residential business is weak. It will also show that commercial real estate is just as weak.
Quarterly Result:
Banking giant HSBC (HBC), insurance company Principal Financial Group (PFG), health insurer Humana (HUM).
Tuesday:
Auto sales for July, due all day Tuesday.This is expected to show some strength ...
Pending home sales, due Tuesday from the National Association of Realtors.The June report showed a decline because of the expiration of homebuyer tax credits. Nomura Securities sees little change from June but expects more activity later this year.
Personal income and saving, due Tuesday from the Commerce Department. Expect little or no change.
Quarterly Results:
Pfizer,Procter & Gamble ,Anadarko Petroleum,WholeFoods Market(WFMI).
Wednesday:
ISM Non-Manufacturing Index, due Wednesday.Expect some improvement.
ADP Employment Index, due Wednesday. This will show a small gain in private-sector employment.
ER:
Cameron International , Transocean,online company AOL (AOL); entertainment giant Time Warner (TWX), which is AOL's former corporate parent; and News Corp. (NWSA), owner of the Fox TV empire and The Wall Street Journal.
Thursday:
Jobless claims, due Thursday from the Labor Department. Expect a little improvement. Automakers are starting to hire.
ER:
Dow component Kraft Foods, British financial giant Barclays (BCS), apparel maker Liz Claiborne (LIZ) and real-estate developer St. Joe (JOE) report. St. Joe, one of Florida's largest developers, may comment on how the BP oil spill has affected its business in the Florida Panhandle.
Friday:
Nonfarm payrolls and unemployment, due Friday from the Labor Department. This is the month's most important economic report, and it's likely to be frustrating.
ER:
Washington Post Co.(WPO), Royal Bank of Scotland(RBS) and Armstrong World Industries (AWI), the maker of flooring and ceiling products.
Institute of Supply Management's manufacturing report, due Monday morning.This will show a decline...
Construction spending, due Monday morning from the Commerce Department.This will confirm, in dollar terms, what housing starts and new-home sales data have already. The residential business is weak. It will also show that commercial real estate is just as weak.
Quarterly Result:
Banking giant HSBC (HBC), insurance company Principal Financial Group (PFG), health insurer Humana (HUM).
Tuesday:
Auto sales for July, due all day Tuesday.This is expected to show some strength ...
Pending home sales, due Tuesday from the National Association of Realtors.The June report showed a decline because of the expiration of homebuyer tax credits. Nomura Securities sees little change from June but expects more activity later this year.
Personal income and saving, due Tuesday from the Commerce Department. Expect little or no change.
Quarterly Results:
Pfizer,Procter & Gamble ,Anadarko Petroleum,WholeFoods Market(WFMI).
Wednesday:
ISM Non-Manufacturing Index, due Wednesday.Expect some improvement.
ADP Employment Index, due Wednesday. This will show a small gain in private-sector employment.
ER:
Cameron International , Transocean,online company AOL (AOL); entertainment giant Time Warner (TWX), which is AOL's former corporate parent; and News Corp. (NWSA), owner of the Fox TV empire and The Wall Street Journal.
Thursday:
Jobless claims, due Thursday from the Labor Department. Expect a little improvement. Automakers are starting to hire.
ER:
Dow component Kraft Foods, British financial giant Barclays (BCS), apparel maker Liz Claiborne (LIZ) and real-estate developer St. Joe (JOE) report. St. Joe, one of Florida's largest developers, may comment on how the BP oil spill has affected its business in the Florida Panhandle.
Friday:
Nonfarm payrolls and unemployment, due Friday from the Labor Department. This is the month's most important economic report, and it's likely to be frustrating.
ER:
Washington Post Co.(WPO), Royal Bank of Scotland(RBS) and Armstrong World Industries (AWI), the maker of flooring and ceiling products.
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