Jobs May Take 2 Years to Return
Link
Wednesday, September 22, 2010
Market Summary 9/22/2010
Stock Market Closing Prices – 9/22/10
Dow ( DJIA ) Close - 10739.31 -21.72
Nasdaq - 2334.55 -14.80
S&P 500 Close – 1134.28 -5.50
Commodities Closing Prices – 9/22/10
Gold Close - 1290.20
Oil Close – 74.71
Natural Gas – 3.97
The pullback came a day after the Federal Reserve said explicitly that it will move to keep the economy from falling into a recession. That was some uncertainty about what the trigger might be.
Gold nearly hits $1300, but oil drops. Gold experts believe $1,300 an ounce is just days away, with the metal perhaps hitting $1,500 by the end of the year. Crude oil for November delivery was off 84 cents, to $74.13 after the Energy Department reported a larger-than-expected expansion of domestic supplies.
Adobe weigh on techs as a disappointing guidance. Microsoft boosts dividend, sells $4.75 billion in debt. Sears will partner with Forever 21 chain. Futures trading suggest stocks will open higher.
Economic Data: September 23, 2010
U.S. weekly jobless claims data released. 8:30 a.m.
U.S. August leading indicators. 10 a.m.
U.S. August existing home sales data. 10 a.m.
Tuesday, September 21, 2010
Market Summary 9/21/2010
Stock Market Closing Prices – 9/21/10
Dow ( DJIA ) Close - 10761.03 +7.41
Nasdaq - 2349.35 -6.48
S&P 500 Close – 1142.71 -2.93
Commodities Closing Prices – 9/21/10
Gold Close - 1272.40
Oil Close – 73.20
Natural Gas – 3.94
The Dow were up 7 points to 10761 after rising as many as 80 points after the Fed statement.
The central bank sees weakness for the foreseeable future and promises to act to jolt the ailing patient. The Fed signaled that it may yet inject more cash into the financial system to prevent the economy from falling into a new recession.
The dollar fell against other major currencies, while gold prices continued to hover near record highs. Crude oil fell $1.34 to $73.52 a barrel. Gold settled down $6.50 to $1,274.30 an ounce.
Stocks initially surged on the decision, but the major averages faded in the last half-hour of trading and basically ended the day flat.
The fade at the finish raised concerns that the September rally may have peaked. Future trading suggest a weak open on Wednesday.
Economic Data: September 22, 2010
- U.S. FHFA house prices for July. 10 a.m.
- EIA releases weekly oil inventories data. 10:30 a.m.
- China Premier Wen Jiabao speaking on U.S.-China relations in New York. 5:30 p.m.
Dow ( DJIA ) Close - 10761.03 +7.41
Nasdaq - 2349.35 -6.48
S&P 500 Close – 1142.71 -2.93
Commodities Closing Prices – 9/21/10
Gold Close - 1272.40
Oil Close – 73.20
Natural Gas – 3.94
The Dow were up 7 points to 10761 after rising as many as 80 points after the Fed statement.
The central bank sees weakness for the foreseeable future and promises to act to jolt the ailing patient. The Fed signaled that it may yet inject more cash into the financial system to prevent the economy from falling into a new recession.
The dollar fell against other major currencies, while gold prices continued to hover near record highs. Crude oil fell $1.34 to $73.52 a barrel. Gold settled down $6.50 to $1,274.30 an ounce.
Stocks initially surged on the decision, but the major averages faded in the last half-hour of trading and basically ended the day flat.
The fade at the finish raised concerns that the September rally may have peaked. Future trading suggest a weak open on Wednesday.
Economic Data: September 22, 2010
- U.S. FHFA house prices for July. 10 a.m.
- EIA releases weekly oil inventories data. 10:30 a.m.
- China Premier Wen Jiabao speaking on U.S.-China relations in New York. 5:30 p.m.
Monday, September 20, 2010
Market Summary 9/20/2010
Stock Market Closing Prices – 9/20/10
Dow ( DJIA ) Close - 10753.62 +145.77
Nasdaq - 2355.83 +40.22
S&P 500 Close – 1142.71 +17.12
Commodities Closing Prices – 9/20/10
Gold Close - 1279.00
Oil Close – 74.44
Natural Gas - 3.84
We had a bullish tone out of President Obama’s speech on CNBC. We also received confirmation today that the recession is over.
Crude oil closed up $1.20 to $74.86 after rising to as high as $675.45. Gold settled up $3.30 to $1,280.80 an ounce.
Despite today's excitement, futures trading suggests that stocks will open flat on Tuesday.
The one downside to the rally: The extra yield investors demand to own
government debt jumped to a record high.
Economic Data: September 21, 2010
U.S. Federal Reserve monetary policy announcement. 2:15 p.m.
Friday, September 17, 2010
Market Summary 9/17/2010
Stock Market Closing Prices – 9/17/10
Dow ( DJIA ) Close - 10607.85 +13.02
Nasdaq - 2315.61 +12.36
S&P 500 Close – 1125.93 +0.93
Commodities Closing Prices – 9/17/10
Gold Close - 1275.60
Oil Close – 73.66
Natural Gas - 4.02The Dow were up 13 points to 10608 .The September rally pushes the Dow up 13, despite a report showing consumers continue to be gloomy.
The market had a lot of quick turns during the day. These had to do with the expiration of options, which causes extra churn in the market.
But
Because of the uncertainty, gold finished at a new closing high, settling at $1,277.50 an ounce, up $3.70. Crude oil was off 91 cents to $73.66 as concerns about the economy and global supply glut persist.
Next week, The Fed will meet on interest rates. Several reports will offer a broad picture of economics, including:
- The Building Sentiment Index from the National Association of Home Builders.
- Housing starts and building permits for August, due Tuesday from the Commerce Department.
- Existing-home sales for August, due Wednesday from the National Association of Realtors.
- New-home sales for August, due Thursday from the Commerce Department.
- Initial jobless claims, due Thursday from the Labor Department.
- Durable-goods orders for August, due Friday from the Commerce Department.
Thursday, September 16, 2010
Silver Hits '80 Level; Gold Sets Fresh High
There's a silver lining to the gold rally.
Silver futures on Thursday hit their highest level since 1980, the year the Hunt brothers allegedly attempted to corner the market. Individual investors are snapping up new Silver Eagle and antique coins, and hedge funds have been plowing money into the metal since midyear.
The fervor has pushed prices up 4.8% this week alone, and 23% this year, outstripping even gold's 16% gain.
Silver settled Thursday at $20.7450 a troy ounce, topping its 2008 high of $20.685 and hitting the highest level since Oct. 15, 1980. Prices hit their all-time high of $48.70 in January 1980, fueled by the Hunt brothers' buying.
Gold, meanwhile, set a record high Thursday for the second time this week, rising 0.4% to $1,271.90.
......
Link
Silver futures on Thursday hit their highest level since 1980, the year the Hunt brothers allegedly attempted to corner the market. Individual investors are snapping up new Silver Eagle and antique coins, and hedge funds have been plowing money into the metal since midyear.
The fervor has pushed prices up 4.8% this week alone, and 23% this year, outstripping even gold's 16% gain.
Silver settled Thursday at $20.7450 a troy ounce, topping its 2008 high of $20.685 and hitting the highest level since Oct. 15, 1980. Prices hit their all-time high of $48.70 in January 1980, fueled by the Hunt brothers' buying.
Gold, meanwhile, set a record high Thursday for the second time this week, rising 0.4% to $1,271.90.
......
Link
Market Summary 9/16/2010
Stock Market Closing Prices – 9/16/10
Dow ( DJIA ) Close - 10594.83 +22.10
Nasdaq - 2303.25 +1.93
SP 500 Close – 1124.66 -0.41
Commodities Closing Prices – 9/16/10
Gold Close - 1271.90
Oil Close – 74.56
Natural Gas – 4.06
The Dow were up 22 points to 10595 as jobless claims are better, but a manufacturing report is weaker than expected.
FedEx earning missed the street estimate by a penny and guidance disappoints. Shares fell 3.8% to $82.72. The company said will cut 1700 jobs for consolidating the business.
Gold settled up $5.90 to $1,273.80 an ounce, a new closing high. Crude oil settled down $1.45 to $74.57 an ounce .
But, the market may jump on Friday since Research In Motion and Oracle reported better than expected the result after closed the bell.RIM shares were up 7.6% to $50 after hours; Oracle was up 4.2% to $26.43 after hours.
Economic Date: September 17, 2010
U.S. CPI data for August. 8:30 a.m.
U.S. UMich preliminary consumer sentiment for September. 9:55 a.m.
Dow ( DJIA ) Close - 10594.83 +22.10
Nasdaq - 2303.25 +1.93
SP 500 Close – 1124.66 -0.41
Commodities Closing Prices – 9/16/10
Gold Close - 1271.90
Oil Close – 74.56
Natural Gas – 4.06
The Dow were up 22 points to 10595 as jobless claims are better, but a manufacturing report is weaker than expected.
FedEx earning missed the street estimate by a penny and guidance disappoints. Shares fell 3.8% to $82.72. The company said will cut 1700 jobs for consolidating the business.
Gold settled up $5.90 to $1,273.80 an ounce, a new closing high. Crude oil settled down $1.45 to $74.57 an ounce .
But, the market may jump on Friday since Research In Motion and Oracle reported better than expected the result after closed the bell.RIM shares were up 7.6% to $50 after hours; Oracle was up 4.2% to $26.43 after hours.
Economic Date: September 17, 2010
U.S. CPI data for August. 8:30 a.m.
U.S. UMich preliminary consumer sentiment for September. 9:55 a.m.
Wednesday, September 15, 2010
Market Summary 9/15/2010
Stock Market Closing Prices – 9/15/10
Dow ( DJIA ) Close - 10572.73 +46.24
Nasdaq Close - 2301.32 +11.55
SP500 Close - 1125.07 +3.97
Commodities Closing Prices – 9/15/10
Gold Close - 1266.70
Oil Close – 75.72
Natural Gas – 4.00
The Dow were up 46 points to 10573.
The s&p 500 was up 4 points to 1125, twice the S&P 500 has faded after reaching 1,130, resistance level!
Early in the day, the big news was the yen after the Japanese government sold the currency for the first time in six years in a bid to push it lower against the dollar. The dollar has surged 3.3% against the yen to trade at 85.76.
Crude oil fell 78 cents to $76.02 per 42-gallon barrel. Gold fell $3 to $1,268.70 an ounce after hitting a closing high on Tuesday.
Tomorrow is an important day, the government will report on initial jobless claims, which have fallen for two straight weeks after hitting 504,00 in the week ended Aug. 14.
U.S. weekly jobless claims, 8:30 am , PPI for August and current account for second quarter. 8:30 a.m.
FedEx to release quarterly results before market open .
Oracle/Research in Motion to announce quarterly results after market close.
Dow ( DJIA ) Close - 10572.73 +46.24
Nasdaq Close - 2301.32 +11.55
SP500 Close - 1125.07 +3.97
Commodities Closing Prices – 9/15/10
Gold Close - 1266.70
Oil Close – 75.72
Natural Gas – 4.00
The Dow were up 46 points to 10573.
The s&p 500 was up 4 points to 1125, twice the S&P 500 has faded after reaching 1,130, resistance level!
Early in the day, the big news was the yen after the Japanese government sold the currency for the first time in six years in a bid to push it lower against the dollar. The dollar has surged 3.3% against the yen to trade at 85.76.
Crude oil fell 78 cents to $76.02 per 42-gallon barrel. Gold fell $3 to $1,268.70 an ounce after hitting a closing high on Tuesday.
Tomorrow is an important day, the government will report on initial jobless claims, which have fallen for two straight weeks after hitting 504,00 in the week ended Aug. 14.
Economic Date: September 16, 2010
FedEx to release quarterly results before market open .
Oracle/Research in Motion to announce quarterly results after market close.
Tuesday, September 14, 2010
Market Summary 9/14/2010
Stock Market Closing Prices – 9/14/10
Dow ( DJIA ) Close - 10526.49 -17.64
Nasdaq Close - 2289.77 +4.06
S&P 500 Close – 1121.10 -0.80
Commodities Closing Prices – 9/14/10
Gold Close - 1268.40
Oil Close – 76.47
Natural Gas – 3.97
The Nasdaq held on to its gains as investors bet on more dividends and share buybacks. Cisco said it plans a dividend starting in 2011. Cisco finished up 0.9% to $21.45.
Gold moves above $1,270, up 2% from Monday and the biggest percentage gain since February. The dollar's fall also helped silver and agricultural commodity prices move higher.
Economic Date: September 15, 2010
Empire state index for September. 8:30 a.m.
Crude Inventories 10:30 am
Monday, September 13, 2010
A Valuation Chart Book
If readers want to contemplate something meaningful at this juncture, one thing to think about is that the real earnings yield of 7.0% for the S&P 500 is extremely high on a historical basis.
Obviously, a lot of uncertainty about the outlook has contributed to the high risk premium in stocks, but if the market's worst fears do not come to fruition, the value proposition presented by that high earnings yield should start to shine through.
As a reference point for our readers, we have put together a valuation chart book for the S&P 500 and the ten economic sectors that comprise it.
....
Link
Obviously, a lot of uncertainty about the outlook has contributed to the high risk premium in stocks, but if the market's worst fears do not come to fruition, the value proposition presented by that high earnings yield should start to shine through.
As a reference point for our readers, we have put together a valuation chart book for the S&P 500 and the ten economic sectors that comprise it.
....
Link
Market Summary 9/13/2010
Stock Market Closing Prices – 9/13/10
Dow ( DJIA ) Close - 10544.13 +81.36
Nasdaq Close - 2285.71 +43.23
S&P 500 Close – 1121.90 +12.35
Commodities Closing Prices – 9/13/10
Gold Close - 1245.10
Oil Close – 77.16
Natural Gas – 3.94
The Dow were up 81 points to 10544 as growth in Chinese industrial production and strength from banks firm the market.
Thanks to the news from China, crude oil settled up 74 cents to $77.19. Gold rose 60 cents to $1,247.10 an ounce at the close in New York.
The major index (TheDow/Nasdaq/S&P500) are now trading above their simple 200-day moving averages for the first time in a month which is bullish.
Microsoft was up 5.2% to $25.11 as Bloomberg said MSFT might sell bonds to pay for dividends and buy back shares. Intel was up 3.3% today to $18.56 after the company said its new "Sandy Bridge" core processors will be available next year.
Economic Date: September 14,2010
U.S. retail sales for August. 8 a.m.
U.S. business inventories for July. 10 a.m.
Dow ( DJIA ) Close - 10544.13 +81.36
Nasdaq Close - 2285.71 +43.23
S&P 500 Close – 1121.90 +12.35
Commodities Closing Prices – 9/13/10
Gold Close - 1245.10
Oil Close – 77.16
Natural Gas – 3.94
The Dow were up 81 points to 10544 as growth in Chinese industrial production and strength from banks firm the market.
Thanks to the news from China, crude oil settled up 74 cents to $77.19. Gold rose 60 cents to $1,247.10 an ounce at the close in New York.
The major index (TheDow/Nasdaq/S&P500) are now trading above their simple 200-day moving averages for the first time in a month which is bullish.
Microsoft was up 5.2% to $25.11 as Bloomberg said MSFT might sell bonds to pay for dividends and buy back shares. Intel was up 3.3% today to $18.56 after the company said its new "Sandy Bridge" core processors will be available next year.
Economic Date: September 14,2010
U.S. retail sales for August. 8 a.m.
U.S. business inventories for July. 10 a.m.
Sunday, September 12, 2010
Next Week's Economic Report
Tuesday: Retail sales for August, due Tuesday from the Commerce Department.
Wednesday:Industrial production for August, due Wednesday.
Thursday: Initial jobless claims, due Thursday from the Labor Department.
Friday: Producer Price Index, due Thursday, and the Consumer Price Index, due Friday, both from the Labor Department.
Reuters/University of Michigan Consumer Sentiment Index, due Friday.
for corporate outlooks:
Tuesday: Best Buy and Cisco Systems will dominate the headlines on Tuesday.
Thursday:Thursday offers reports from FedEx, Oracle and Research In Motion.
Wednesday:Industrial production for August, due Wednesday.
Thursday: Initial jobless claims, due Thursday from the Labor Department.
Friday: Producer Price Index, due Thursday, and the Consumer Price Index, due Friday, both from the Labor Department.
Reuters/University of Michigan Consumer Sentiment Index, due Friday.
for corporate outlooks:
Tuesday: Best Buy and Cisco Systems will dominate the headlines on Tuesday.
Thursday:Thursday offers reports from FedEx, Oracle and Research In Motion.
Saturday, September 11, 2010
A Quick ETF View
1.
VT (43.06) -- Vanguard Total World Stock Index ETF
IOO(56.58) -- iShares S&P Global 100 Index
2.
SPY (111.48) -- Standard & Poor's Depositary Re
VTI (56.69) -- Vanguard Total Stock Market ETF
3.
VGK (46.45) -- Vanguard European ETF
4.
VWO (42.93) -- Vanguard Emerging Markets ETF
5. EPP, FXI, RSX, EWZ, EWY, EWT, EWH, IEV, EZU
VT (43.06) -- Vanguard Total World Stock Index ETF
IOO(56.58) -- iShares S&P Global 100 Index
2.
SPY (111.48) -- Standard & Poor's Depositary Re
VTI (56.69) -- Vanguard Total Stock Market ETF
3.
VGK (46.45) -- Vanguard European ETF
4.
VWO (42.93) -- Vanguard Emerging Markets ETF
5. EPP, FXI, RSX, EWZ, EWY, EWT, EWH, IEV, EZU
Friday, September 10, 2010
Market Summary 9/10/2010
Stock Market Closing Prices – 9/10/10
Dow ( DJIA ) Close - 10462.77 +47.53
Nasdaq Close - 2242.48 +6.28
S&P 500 Close – 1109.55 +5.37
Commodities Closing Prices – 9/10/10
Gold Close - 1248.90
Oil Close – 74.78
Natural Gas – 3.88
The Dow were up 48 points to 10463 for the second week in row.
The market finished higher for the 3rd straight day as gains in energy and health care offset weakness in semiconductor stocks.
The market got a boost in the morning from China. The government said imports increased 35% in August.
The idea of a growing global economy boosted oil prices. Crude settled up $2.20 to $76.45 a barrel. For the week, crude was up 2.5%.
Gold settled down $4.40 to $1,246.50 an ounce and ended the week off 0.4%.
Dow ( DJIA ) Close - 10462.77 +47.53
Nasdaq Close - 2242.48 +6.28
S&P 500 Close – 1109.55 +5.37
Commodities Closing Prices – 9/10/10
Gold Close - 1248.90
Oil Close – 74.78
Natural Gas – 3.88
The Dow were up 48 points to 10463 for the second week in row.
The market finished higher for the 3rd straight day as gains in energy and health care offset weakness in semiconductor stocks.
The market got a boost in the morning from China. The government said imports increased 35% in August.
The idea of a growing global economy boosted oil prices. Crude settled up $2.20 to $76.45 a barrel. For the week, crude was up 2.5%.
Gold settled down $4.40 to $1,246.50 an ounce and ended the week off 0.4%.
Thursday, September 9, 2010
General Market
.SPY (S&P 500) -- tracks the 500 largest publicly traded companies
.QQQQ(Nasdaq 100) -- tracks the 100 largest tech, biotech, and telecom companies
.DIA (DJIA ) -- tracks SPDR Dow Jones Industrial Average
Market Cap Indexes
. MDY (S&P Midcaps) -- tracks 400 representative madcap companies
. IWM (Russell 2000) -- tracks 2000 representative small-cap companies
Sector Indexes
.SMH – semiconductor companies
.IBB – biotech companies
.OIH – oil services companies
.HHH – Internet companies
.RTH – retail companies
.XLF – financial services companies
.XHB – home building companies
.QQQQ(Nasdaq 100) -- tracks the 100 largest tech, biotech, and telecom companies
.DIA (DJIA ) -- tracks SPDR Dow Jones Industrial Average
Market Cap Indexes
. MDY (S&P Midcaps) -- tracks 400 representative madcap companies
. IWM (Russell 2000) -- tracks 2000 representative small-cap companies
Sector Indexes
.SMH – semiconductor companies
.IBB – biotech companies
.OIH – oil services companies
.HHH – Internet companies
.RTH – retail companies
.XLF – financial services companies
.XHB – home building companies
Market Summary 9/09/2010
Stock Market Closing Prices – 9/09/10
Dow ( DJIA ) Close - 10415.24 +28.23
Nasdaq Close - 2236.20 +7.33
S&P 500 Close – 1104.18 +5.31
Commodities Closing Prices – 9/09/10
Gold Close - 1248.90
Oil Close – 74.78
Natural Gas – 3.77
The Dow were up 28 points to 10415 after government report showed jobless claims fell more then expected and the trade deficit unexpectedly narrowed in July.
Consider the S&P 500, which jumped to as high as 1,110 right after the open -- and promptly fell back. That suggests traders are programming sell orders at 1,110 to take profits.
Gold settled down $6.60 to $1,250.90 an ounce. Silver was down more than 15 cents to $19.86 an ounce. Oil futures for October delivery fell 42 cents to settle at $74.25 a barrel.
Trading volume is 30% below the 3-month moving average.
Economic Data : September 10,2010
U.S. wholesale trade data for July. 10 a.m.
Dow ( DJIA ) Close - 10415.24 +28.23
Nasdaq Close - 2236.20 +7.33
S&P 500 Close – 1104.18 +5.31
Commodities Closing Prices – 9/09/10
Gold Close - 1248.90
Oil Close – 74.78
Natural Gas – 3.77
The Dow were up 28 points to 10415 after government report showed jobless claims fell more then expected and the trade deficit unexpectedly narrowed in July.
Consider the S&P 500, which jumped to as high as 1,110 right after the open -- and promptly fell back. That suggests traders are programming sell orders at 1,110 to take profits.
Gold settled down $6.60 to $1,250.90 an ounce. Silver was down more than 15 cents to $19.86 an ounce. Oil futures for October delivery fell 42 cents to settle at $74.25 a barrel.
Trading volume is 30% below the 3-month moving average.
Economic Data : September 10,2010
U.S. wholesale trade data for July. 10 a.m.
Wednesday, September 8, 2010
Market Summary 9/08/2010
Stock Market Closing Prices – 9/08/10
Dow ( DJIA ) Close - 10387.01 +46.32
Nasdaq Close - 2228.87 +19.98
S&P 500 Close – 1098.87 +7.03
Commodities Closing Prices – 9/08/10
Gold Close - 1255.60
Oil Close – 75.09
Natural Gas – 3.81
The Dow were up 46 points to 10387 after the Fed sees 'widespread' signs of slowing growth.
The Rally saw the Dow move up as many as 86 points but faded after the Fed’s Beige Book report was released and the president spoke.
Financial, industrial, materials and energy stocks were the big leaders today.
The rally came as many companies are taking advantage of record-low interest rates to refinance their debt.
Gold slipped $1.80 to $1,257.50 an ounce as the European situation eased. Oil falls back from $75, Oil futures for October delivery rose 41 cents to settle at $74.67 a barrel.
Economic Data : September 9,2010
U.S. weekly jobless claims data, international trade for July. 8:30 a.m.
OPEC releases monthly oil report schedule before market open.
Dow ( DJIA ) Close - 10387.01 +46.32
Nasdaq Close - 2228.87 +19.98
S&P 500 Close – 1098.87 +7.03
Commodities Closing Prices – 9/08/10
Gold Close - 1255.60
Oil Close – 75.09
Natural Gas – 3.81
The Dow were up 46 points to 10387 after the Fed sees 'widespread' signs of slowing growth.
The Rally saw the Dow move up as many as 86 points but faded after the Fed’s Beige Book report was released and the president spoke.
Financial, industrial, materials and energy stocks were the big leaders today.
The rally came as many companies are taking advantage of record-low interest rates to refinance their debt.
Gold slipped $1.80 to $1,257.50 an ounce as the European situation eased. Oil falls back from $75, Oil futures for October delivery rose 41 cents to settle at $74.67 a barrel.
Economic Data : September 9,2010
U.S. weekly jobless claims data, international trade for July. 8:30 a.m.
OPEC releases monthly oil report schedule before market open.
Tuesday, September 7, 2010
Market Summary 9/07/2010
Stock Market Closing Prices – 9/07/10
Dow ( DJIA ) Close - 10340.69 +107.24
Nasdaq Close - 2208.89 -24.86
S&P 500 Close – 1091.84 -12.67
Commodities Closing Prices – 9/07/10
Gold Close - 1257.30
Oil Close – 73.82
Natural Gas – 3.83
The Dow were down 107 points to 10341 as Worries grow that European banks need more capital and Profit-taking was also surely a cause for today's selling.
Gold for December delivery was up $8.20 to $1,259.30 an ounce. On gold for October delivery, the close was $1258.30, up $8.10. The closes for October and December are record highs.
Crude oil fell $1.12 to $73.48. The dollar was higher against major currencies.
Wednesday, investors will get a read on regional economies with the Federal Reserve's Beige Book.
Dow ( DJIA ) Close - 10340.69 +107.24
Nasdaq Close - 2208.89 -24.86
S&P 500 Close – 1091.84 -12.67
Commodities Closing Prices – 9/07/10
Gold Close - 1257.30
Oil Close – 73.82
Natural Gas – 3.83
The Dow were down 107 points to 10341 as Worries grow that European banks need more capital and Profit-taking was also surely a cause for today's selling.
Gold for December delivery was up $8.20 to $1,259.30 an ounce. On gold for October delivery, the close was $1258.30, up $8.10. The closes for October and December are record highs.
Crude oil fell $1.12 to $73.48. The dollar was higher against major currencies.
Wednesday, investors will get a read on regional economies with the Federal Reserve's Beige Book.
Monday, September 6, 2010
Sunday, September 5, 2010
Mortgage Length: Should you keep it short?
Growing numbers of homeowners are choosing 15-year mortgages when they refinance, but is that really the best option?
In the first six months of the year, 26% of homeowners who refinanced picked the 15-year deal over the more common 30-year mortgage, up from 18.5% in 2009, according to CoreLogic, a market-data firm.
Choosing a 15-year loan for a refinancing can save the homeowner money in three ways: the interest rate is lower than the rate on the loan being replaced, it’s lower than the rate on a new 30-year loan, and choosing a 15-year term instead of 30 eliminates 15 years of interest payments.
It sounds like a strategy that can’t miss.
But there is one drawback: Since the debt has to be repaid in 15 years instead of 30, the principal payments are much, much higher. For many, it might be better to take out a new 30-year loan, and then try to pay extra every month to retire the debt ahead of schedule. That way, the homeowner isn’t committed to the bigger payment required by the 15-year loan.
The average 15-year fixed-rate loan charges 4.072%, compared to 4.532% on the 30-year fixed deal, according to the BankingMyWay survey. For every $100,000 borrowed, the 15-year loan would cost $743 per month, according to the Mortgage Loan Calculator. The 30-year loan would cost just $509.
A homeowner able to shoulder the bigger payment would reap big savings, paying $33,794 in interest during the 15 years compared to $83,091 in interest over the life of the 30-year loan.
But what if the bigger payment will be a strain? Suppose your income falls or other expenses rise more than you expect. If the big payment makes you nervous, consider refinancing with a 30-year loan and making extra payments.
Going further, if you took out the 30-year loan and paid an extra $234.71 a month, your monthly cost would be same as with the 15-year deal, and the loan would be paid off in 16 years. Over the life of the loan, you’d pay $39,872 in interest, about $43,000 less than if you made only the required payments on the 30-year loan for three decades.
With this 30-year prepay option, you’d pay about $6,000 more in interest than with the 15-year loan, a result of the slightly higher interest rate. But that might seem like a small price to pay for the flexibility you’d enjoy – the right to pay $509, instead of $743.
That would come in handy if money were tight, or if you saw a more profitable way to invest that $235 a month.
source: www.mainstreet.com
In the first six months of the year, 26% of homeowners who refinanced picked the 15-year deal over the more common 30-year mortgage, up from 18.5% in 2009, according to CoreLogic, a market-data firm.
Choosing a 15-year loan for a refinancing can save the homeowner money in three ways: the interest rate is lower than the rate on the loan being replaced, it’s lower than the rate on a new 30-year loan, and choosing a 15-year term instead of 30 eliminates 15 years of interest payments.
It sounds like a strategy that can’t miss.
But there is one drawback: Since the debt has to be repaid in 15 years instead of 30, the principal payments are much, much higher. For many, it might be better to take out a new 30-year loan, and then try to pay extra every month to retire the debt ahead of schedule. That way, the homeowner isn’t committed to the bigger payment required by the 15-year loan.
The average 15-year fixed-rate loan charges 4.072%, compared to 4.532% on the 30-year fixed deal, according to the BankingMyWay survey. For every $100,000 borrowed, the 15-year loan would cost $743 per month, according to the Mortgage Loan Calculator. The 30-year loan would cost just $509.
A homeowner able to shoulder the bigger payment would reap big savings, paying $33,794 in interest during the 15 years compared to $83,091 in interest over the life of the 30-year loan.
But what if the bigger payment will be a strain? Suppose your income falls or other expenses rise more than you expect. If the big payment makes you nervous, consider refinancing with a 30-year loan and making extra payments.
Going further, if you took out the 30-year loan and paid an extra $234.71 a month, your monthly cost would be same as with the 15-year deal, and the loan would be paid off in 16 years. Over the life of the loan, you’d pay $39,872 in interest, about $43,000 less than if you made only the required payments on the 30-year loan for three decades.
With this 30-year prepay option, you’d pay about $6,000 more in interest than with the 15-year loan, a result of the slightly higher interest rate. But that might seem like a small price to pay for the flexibility you’d enjoy – the right to pay $509, instead of $743.
That would come in handy if money were tight, or if you saw a more profitable way to invest that $235 a month.
source: www.mainstreet.com
Friday, September 3, 2010
Market Summary 9/03/2010
Stock Market Closing Prices – 9/03/10
Dow ( DJIA ) Close - 10447.93 +127.83
Nasdaq Close - 2233.75 +33.74
S&P 500 Close – 1104.51 +14.41
Commodities Closing Prices – 9/03/10
Gold Close - 1249.20
Oil Close – 74.60
Natural Gas – 3.94
The Dow were up 128 points to 10448, Stocks rise for a fourth straight day after private-sector jobs grow more than expected, but unemployment hits 9.6%.
For the technically minded, the market is sending off some bullish signals. Most important: The S&P 500 is above 1,100 for the first time since Aug. 10.
Crude oil closed down 42 cents to $74.60 a barrel and dropped 0.8% for the week. Gold settled down $2.30 to $1,251.10 an ounce but climbed 1.1% for the week.
Markets are closed Monday for Labor Day.
Looking Forward, The big question: Will the rally continue?
The Fed's Beige Book report will be closely studied. So will President Obama's stimulus proposals to boost the economy.
Wednesday: The Federal Reserve will release its Beige Book report on the economy on Wednesday.
Thursday : brings the jobless-claims report and a report on the nation's trade balance.
Friday: The president said Friday he'll be offering new proposals next week to help boost the economy.
Dow ( DJIA ) Close - 10447.93 +127.83
Nasdaq Close - 2233.75 +33.74
S&P 500 Close – 1104.51 +14.41
Commodities Closing Prices – 9/03/10
Gold Close - 1249.20
Oil Close – 74.60
Natural Gas – 3.94
The Dow were up 128 points to 10448, Stocks rise for a fourth straight day after private-sector jobs grow more than expected, but unemployment hits 9.6%.
For the technically minded, the market is sending off some bullish signals. Most important: The S&P 500 is above 1,100 for the first time since Aug. 10.
Crude oil closed down 42 cents to $74.60 a barrel and dropped 0.8% for the week. Gold settled down $2.30 to $1,251.10 an ounce but climbed 1.1% for the week.
Markets are closed Monday for Labor Day.
Looking Forward, The big question: Will the rally continue?
The Fed's Beige Book report will be closely studied. So will President Obama's stimulus proposals to boost the economy.
Wednesday: The Federal Reserve will release its Beige Book report on the economy on Wednesday.
Thursday : brings the jobless-claims report and a report on the nation's trade balance.
Friday: The president said Friday he'll be offering new proposals next week to help boost the economy.
Thursday, September 2, 2010
The Smart Investor
"It's my job to protect you from conventional wisdom," Jim Cramer told viewers of his "Mad Money" TV show Thursday. He said that anyone who tells you ordinary people shouldn't own individual stocks is just wrong.
Cramer said it's "hogwash" for those on Wall Street to tell individual investors that the market is too hard, and that they should just go with mutual funds or index
....
Link
Cramer said it's "hogwash" for those on Wall Street to tell individual investors that the market is too hard, and that they should just go with mutual funds or index
....
Link
Market Summary 9/02/2010
Stock Market Closing Prices – 9/02/10
Dow ( DJIA ) Close - 10320.10 +50.63
Nasdaq Close - 2200.01 +23.17
S&P 500 Close – 1090.10 +9.81
Commodities Closing Prices – 9/02/10
Gold Close - 1251.50
Oil Close – 74.91
Natural Gas – 3.75
The Dow were up 51 points to 10320, third straight gain and fourth in the last five sessions.
The rally was a surprise, the economic news was helped by better-than-expected reports on jobless claims and pending home sales. Plus, retailers reported favorable August sales.
Hewlett-Packard finally wins 3Par.
Crude oil settled up $1.11 to $75.02 a barrel. Gold nears a record high, Gold settled up $5.30 to $1,253.40 an ounce.
All eyes on the unemployment report, which will be released at 8:30 a.m. ET, Friday's report is expected to show U.S. unemployment rising slightly to 9.6%.
Dow ( DJIA ) Close - 10320.10 +50.63
Nasdaq Close - 2200.01 +23.17
S&P 500 Close – 1090.10 +9.81
Commodities Closing Prices – 9/02/10
Gold Close - 1251.50
Oil Close – 74.91
Natural Gas – 3.75
The Dow were up 51 points to 10320, third straight gain and fourth in the last five sessions.
The rally was a surprise, the economic news was helped by better-than-expected reports on jobless claims and pending home sales. Plus, retailers reported favorable August sales.
Hewlett-Packard finally wins 3Par.
Crude oil settled up $1.11 to $75.02 a barrel. Gold nears a record high, Gold settled up $5.30 to $1,253.40 an ounce.
All eyes on the unemployment report, which will be released at 8:30 a.m. ET, Friday's report is expected to show U.S. unemployment rising slightly to 9.6%.
Wednesday, September 1, 2010
Market Summary 9/01/2010
Stock Market Closing Prices – 9/01/10
Dow ( DJIA ) Close - 10269.47 +254.75
Nasdaq Close - 2176.84 +62.81
S&P 500 Close – 1080.29 +30.96
Commodities Closing Prices – 9/01/10
Gold Close - 1246.30
Oil Close – 73.63
Natural Gas – 3.76
The Dow up 255 points to 10269, Stocks rallied as investors welcomed a rebound in Chinese manufacturing and robust economic growth in Australia. In addition, investors cheered strong economic reports on US manufacturing activity.
Gold fell $2.20 to $1,248.10. Crude oil settled up $1.99 to $73.91.
Energy shares were higher as a result.
Futures trading suggests a modestly lower open.
Economic Data: Sep 2, 2010
U.S. weekly jobless claims. 8:30 a.m.
U.S. pending home sales for July.
U.S. factory orders for July. 10 a.m.
Dow ( DJIA ) Close - 10269.47 +254.75
Nasdaq Close - 2176.84 +62.81
S&P 500 Close – 1080.29 +30.96
Commodities Closing Prices – 9/01/10
Gold Close - 1246.30
Oil Close – 73.63
Natural Gas – 3.76
The Dow up 255 points to 10269, Stocks rallied as investors welcomed a rebound in Chinese manufacturing and robust economic growth in Australia. In addition, investors cheered strong economic reports on US manufacturing activity.
Gold fell $2.20 to $1,248.10. Crude oil settled up $1.99 to $73.91.
Energy shares were higher as a result.
Futures trading suggests a modestly lower open.
Economic Data: Sep 2, 2010
U.S. weekly jobless claims. 8:30 a.m.
U.S. pending home sales for July.
U.S. factory orders for July. 10 a.m.
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