Tuesday, September 20, 2016 4pm EST U.S. stocks closed marginally higher on Tuesday on the heels of disappointing housing data, while investors awaited the latest monetary policy decisions from the Federal Reserve and the Bank of Japan. “You’re dealing with three issues,” said Rob Bartenstein, CEO of Kestra Private Wealth Services, referring to seasonality, valuations…
Stocks Bounce Ahead of Fed Meeting The market tried to bounce last week but the tape remains very split. The market sold off hard on Friday 9/9/16 after one of the Fed officials made the case to raise rates at its meeting next week. He was dovish (wants low rates) and the fact that he…
Wed 9.14.16 U.S. stocks traded higher on Wednesday, led by information technology, as oil prices traded in a wide range following inventories data. The Dow Jones industrial average gained about 60 points, with Apple contributing the most gains. The S&P 500 rose 0.4 percent, with information technology rising more than 1 percent. The Nasdaq outperformed, gaining…
Monday, September 12, 2016 4pm EST U.S. stocks closed sharply higher on Monday after a key Federal Reserve official advised “prudence” with regards to interest rates. “I think there is a bit of a sigh of relief because a dovish Fed official came out and was dovish,” said Anna Rathbun, director of research for CBIZ…
Fed Spooks Markets; Dow & SP 500 Negate Big Breakouts The market is showing signs of a near term top after trading in a very tight range over the past 8-weeks. On Friday, stocks sold off hard after the Fed’s Rosengren, who’s been dovish, changed his stance and made the case for a rate hike…
Wednesday, September 07, 2016 U.S. stocks traded near the flatline Wednesday afternoon, with consumer staples lagging, as investors digested the release of the Federal Reserve’s Beige Book. The Dow Jones industrial average fell about 15 points, with Home Depot contributing the most losses. “It does feel like a calm before a storm as we head…
Tuesday, September 06, 2016 * Non-manufacturing activity index drops to 51.4 in August – ISM * Financial stocks drag down S&P 500 * Spectra Energy jumps on Enbridge deal * Cepheid soars on $4 bln Danaher offer * Dow down 0.06 pct, S&P down 0.05 pct, Nasdaq up 0.18 pct (Adds details, comments, updates prices)…
Bullish Tight Trading Range Continues The tight trading range we have seen over the past 7 weeks continues as the market pauses to digest the very strong ~10% post-brexit rally. All that has happened over the past 7 weeks is that the moving averages are playing catch up to the strong rally. So far, the…
Thursday, September 01, 2016 3:45pm EST U.S. stocks traded mostly lower Thursday as investors digested a slew of economic data ahead of Friday’s key jobs report. The Dow Jones industrial average traded about 20 points lower, after briefly falling more than 100 points. The S&P 500 fell about 0.1 percent, after being dragged lower by…
Market Finally Pulls Back Overall, the major indices continue trading in a very tight range after a very strong ~10% post-brexit rally. So far, the action is normal and very healthy as the market appears to be pulling back from very extended conditions. Remember, there are two ways a market can pullback after a big rally: mover…