Climbing the Wall of Worry
Stocks are “climbing a wall of worry and that tends to be the best kind of bull market,” Mike Lenhoff from Brewin Dolphin told CNBC Tuesday. Marc Ostwald from Monument Securities joined the discussion.
Fidelity Launches Emerging Market Fund
The Fidelity China Special Situations Fund launched Monday and has managed to raise £460 million. Tom Stevenson from Fidelity told CNBC it was the biggest emerging market fund launch in the last 20 years.
Charts: Euro to Rally vs Dollar?
The euro is likely to rally versus the dollar “into the $1.38 resistance area,” Roelof van den Akker from ING Commercial Banking told CNBC Tuesday. Akker also takes a technical look at the Xetra DAX.
Stocks End Mixed As Investors Digest A Slew of Earnings
It is important to note that the major averages have been steadily rallying since early February and a pullback of some sort should be expected. The prior commentary’s observation, “Since the March 1, 2010 follow-though-day (FTD) a handful of distribution days has not been the least bit damaging to the market’s confirmed rally” – was immediately followed with the 6th distribution day for the S&P 500 Index, a sign of mounting pressure on this 8-week rally. Trade accordingly.
Spitzer on Goldman 4.19.10
Insight on the SEC’s case against Goldman Sachs, with Eliot Spitzer, former governor of New York.
Rating Agency Risk
Where do the rating agencies fall into the fray when it comes to the SEC’s charges against Goldman Sachs? Sean Egan, president of the Egan-Jones Ratings Company, and Mark Zandi, of Moody’s Economy.com, share their insight.
Citi Earnings Reaction
Chris Whalen, managing director of Institutional risk Analytics, shares his reaction to Citi’s quarterly results.
Euro to Remain Weak on Greek Bailout
The euro will remain weak “for a while” because the European Union will have to bail out Greece, Bob McKee from Independent Strategy told CNBC Monday. Michael Browne from Sofaer Global Research and Alan Miller from Spencer-Churchill Miller Private joined the discussion.
7-Week Rally Under Pressure
Stocks tanked on Friday after several high profile companies released their Q1 results and the SEC charged Goldman Sachs with fraud. Our primary concern before the SEC/GS news was released was the ominous action in shares of GOOG, ISRG and BAC after releasing their Q1 results. Longstanding readers of this column know how much we focus on how the market reacts to the news, not just the news itself. That said, the fact that these leaders reacted poorly to bullish quarterly results suggests that the much anticpated pullback may have begun. Then the SEC/GS news broke, which was the proverbial icing on the cake. At this point, the major averages have been steadily rallying since early February and a pullback of some sort should be expected. Since the March 1, 2010 follow-through day there have been 6 distribution days on the S&P 500 which is more than enough to put pressure on this 7-week rally. Trade accordingly.
SEC's Charges Against Goldman
CNBC’s David Faber and other market insiders weigh in on the SEC’s charges that Goldman Sachs allegedly committed fraud with subprime mortgages.