All he needs is an internet connection! Yesterday, Cyber Monday, was the biggest online shopping day in history. Mobile device sales exploded to the upside totaling more than $5.23 billion, which is up over 17% from last year. Desktop computers seem to be going the way of black-and-white TVs as sales
The next six weeks are usually directionless, similar to the end of summer — especially with earnings season winding down. With 95% of S&P companies reporting third quarter earnings, 74% have had positive EPS surprises and 66% have beaten on sales. Overall, it’s been a very positive earnings season
Yesterday was the worst day for the Dow (^DJI, DIA) in two months, where earnings were the main driving force pushing the market down. Although some of the big S&P 500 (^GSPC, SPY) components beat on the top and bottom lines, it was the revenue and guidance that worried investors. Boeing (BA) also
By the time traders entered the trading floor on that day at 9:00 a.m. (EST), they knew it was going to be a bad day and any hope of buyers stepping in to support Friday’s decline was fast fading. By the end of the trading day, the market had fallen an incredible 508 points.
The start of Q3 earnings season has gone mostly as expected—a little bumpy for the markets, but still bullish enough to hit Dow 23,000.
Unfortunately, most eyeballs reading this note will not be around to wear those "Dow 1,000,000" hats they pass around at every milestone.
Just a little talk about tax reform can really move markets. On Tuesday, Treasury Secretary Steve Mnuchin spoke to reporters saying that tax reform may come this year. Wall Street would be happy with any cut down to 20% to 25%.
While the Dow (^DJI, DIA) was posting its ninth consecutive record close, with the tech-heavy Nasdaq (^IXIC, QQQ) trading above 6,000 and with the S&P 500 (^GSPC, SPY) holding above 2,400—you might think the whole market is on fire. The Russell 2000 (^RUT, IWM), the major index tracking the small cap
The US economy added 209,000 jobs—far greater than the 180,000 analysts had been expecting. June’s numbers from the BLS were also revised higher to 231,000 from 222,000. The unemployment rate dropped from 4.4% to 4.3%, in line with analysts’ expectations. The closely-watched labor force participation
US markets were rather quiet Monday, with traders focusing on a slew of earnings reports coming out later in the week. The Dow (^DJI, DIA) fell 8.02 points to close at 21,629.72. IBM (IBM) was the biggest drag on the index, as Big Blue closed down $1.23 to $153.01.
Dr. Yellen’s testimony to Congress put markets in a euphoric mood. The Dow (^DJI, DIA) closed up 123.07 points to finish at 21,532.14 (a record) and hit an intraday all-time high of 21,580.79. The transports are a good harbinger of what’s going on at the ground level.
Here we are: 174 days until the new year and at the beginning of the third quarter. So far, it’s been a pretty predictable summer with dwindling volume, as we head into the heart and heat of the season. Expect to see volatility increase this quarter, as most trading in this light-volume environment will
Last week, the “don’t show-don’t own” stocks [Facebook (FB), Amazon (AMZN), Apple (AAPL), Netflix (NFLX) and Google (GOOGL, GOOG)] were back “en vogue,” with Amazon hitting a new all-time high at 1070 on the open. The Dow (^DJI, DIA) also started the week by reaching a new high at 21,528.99. This time
The Nasdaq (^IXIC, QQQ) got hit pretty hard, ending the session down -25.47 to 6,194, and the S&P 500 (^GSPC, SPY) finished down 0.10% to 2,437. Today was another day of tech selling that started the slide in the Nasdaq. Unlike last week’s downgrade of Apple (AAPL) that started the romp in the techs
For the second week, there’s been another downgrade for Apple (AAPL) and, like last time, all the other FANGs followed Apple down. After Friday’s selloff in the tech sector that saw the Nasdaq (^IXIC, QQQ) plunge 1.8% and the S&P 500 (^GSPC, SPY) slip 0.1%, traders were hoping for a little reprieve.