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Market Watch: Which Candidate would benefit U.S. Economy?

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U.S. stocks finished mixed at the conclusion of Monday trading amid declines in oil prices,which fell nearly 3% as traders assessed the impact of wildfires on Canada’s oil output.

In the meantime, with the U.S. Presidential election still 6 months away, the candidates are being judged as to what their proposed economic policies would mean the to the U.S. economy. For example: some are saying that Bernie Sanders’ plan would add $21 billion dollars to the U.S. debt, while others like Peter Schiff– CEO of Euro Pacific Capital believe Donald Trump knows a U.S. government default is inevitable. Does Trump  have right idea when it comes to handling U.S. debt?  See more below.

Read the analysis of Bernie Sanders’ financial plan from the Tax Policy Center here.

Here are the final numbers from Monday, May 9th on Wall Street:

Dow Jones Industrial Average: 17,705.91  (-34.72 / -0.20 %)

NASDAQ: 4,750.21  (+14.05 / +0.30 %)

S&P 500: 2,058.69 (+1.55/ +0.08%)

Market Watch: Stocks Up Despite Disappointing April Jobs Report

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The last day of the trading week saw the Dow complete its first two week losing streak since February.  The possibility of a Federal Reserve rate hike in June also suffered a big hit today as the April jobs report fell well below analysts’ estimates. In April, the U.S. economy added 160,000 jobs, far below economist predictions of 202,000. Before April’s employment report came out, the market estimated a 10% chance of a June rate hike by the FOMC, but those odds now stand at 6%. Weak U.S. economic growth may be making some employers more cautious about hiring.

Chris Williamson, chief economist at Markit, wrote in a research note:

“By adding to signs that economic weakness is lingering into the second quarter, these disappointing numbers greatly reduce the likelihood of the Fed hiking rates this side of the presidential election.”

See more (below) from CNBC as to why, despite today’s poor April jobs report, the market experienced gains today.

Meanwhile the April jobs report could spark a bull rush on the gold market. Watch below.

Here are the final numbers from Friday, May 6th on Wall Street:

Dow Jones Industrial Average: 17,740.63  (+79.92 / +0.45 %)

NASDAQ: 4,736.15  (+19.06 / +0.40 %)

S&P 500: 2,057.14 (+6.51/ +0.32%)

Market Watch: Markets Mixed as Jobs Report Looms

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Cinco de Mayo or May 5th commemorates the Mexican Army’s victory over French forces at the Battle of Puebla on May 5, 1862. However, there was no celebrating on Wall Street today as stocks finished with mixed results.  Atlanta Fed President Dennis Lockhart told CNBC’s “Closing Bell” that:

“He is “on the fence” on the possibility of a June rate hike, while optimistic the rest of the year will be much better than first-quarter U.S. growth. He added that the U.K. vote on whether or not to stay in the European Union is “a big unknown” and a consideration in U.S. policymaking.”

Meantime Investors anxiously awaited a key employment report due out tomorrow.  Check out more from CNBC below.

Here are the final numbers from Thursday, May 5th on Wall Street:

Dow Jones Industrial Average: 17,660.71  (+9.45 / +0.05 %)

NASDAQ: 4,717.09  (-8.55 / -0.18 %)

S&P 500: 2,050.63 (-0.49/ -0.02%)

Market Watch: Warren Buffett does not calm fears as stocks end worst week since Feb.

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Market volatility continued it’s re-assault on Wall Street today as stocks ended their worst week since February. The CBOE Volatility Index, generally regarded as the best indication of fear & volatility in the markets, shot up more than 10% to its highest level since March 15th.-a near 7 week high.
Meanwhile, billionaire investor and chairman of Berkshire Hathaway Warren Buffett said today that he cannot, at this time comfort anyone who worries about very slow growth in the U.S. economy.  Buffett spoke ahead of tomorrow’s annual Berkshire Hathaway shareholders meeting and was interviewed by CNBC’s “Squawk Box.”

He said the following about the current state of the U.S. economy:

“It’s certainly not accelerating … [but] it’s not declining. The economy is not booming, [but] on the other hand, it’s not falling apart in any way shape or form, either.”

Buffet’s comments come a day after the government’s initial look at first-quarter G.D.P. showed a weaker-than-expected annual increase of just 0.5 percent.

According to today’s NY Times:

“U.S. corporate profits, weighed down by the energy slump and slowing global growth, are set to decline for the third straight quarter in the longest slide in earnings since the financial crisis.”

See CNBC’s “Squawk Box’ entire interview with Warren Buffett below.

Here are the final numbers from Friday, 4/29/16 on Wall Street:

Dow Jones Industrial Average: 17,773.64  (-57.12 / -0.32 %)

NASDAQ: 4,775.36  (-29.93 / -0.62 %)

S&P 500: 2,065.30 (-10.51/ -0.51%)

Market Watch: There will be a day of reckoning on the markets

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“The Markets will have a day of reckoning!”

Those were the words of billionaire investor Carl Icahn, who told CNBC’s Power Lunch today that he is “extremely cautious” on the U.S. markets. The result of his warning was a big drop on Wall Street today as The Down dropped over 187 points and the NASDAQ lost almost 58 points.  Icahn’s comments came after he announced that he has sold all of his Apple stocks as the tech giant’s stock continues to lose value after disappointing earnings. On Tuesday Apple posted its quarterly earnings and revenue totals which missed Wall Street’s expectations. Apple’s sales have declined 13% from the previous year, its first yearly revenue drop since 2003. Sales of its key iPhone fell to to 51.2 million from 61.2 million in the year prior.

Hear more of Icahn’s comments below.

Here are the final numbers from Thursday, 4/28/16 on Wall Street:

Dow Jones Industrial Average: 17,853.90  (-187.65 / -1.04 %)

NASDAQ: 4,805.29  (-57.85 / -1.19 %)

S&P 500: 2,075.81 (-19.34 -0.92%)

Market Watch: NASDAQ Suffers 4th Straight Loss

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The second day of the trading week saw the NASDAQ post its first 4-day losing streak since January as the tech index closed in the red for the year. The day was also highlighted by a big jump in the cost of oil. The price of a barrel of crude spiked 3.3% up $1.44 to close just above $44/barrel.  Oil companies have lost $67 billion dollars since oil prices started collapsing nearly 2 years ago according to the Oil Information Administration. See more below.

The Federal Open Market Committee began its two-day meeting today and is expected to release its statement on monetary policy tomorrow afternoon. No move on interest rates is expected but investors will be searching for any clues as to when the Fed might raise rates again.

Here are the final numbers from Tuesday, 4/26/16 on Wall Street:

Dow Jones Industrial Average: 17,990.32  (+13.08 / +0.07 %)

NASDAQ: 4,888.31  (-7.48 / -0.15 %)

S&P 500: 2,091.70 (+3.91 +0.19%)

Market Watch: Goldman Decline Leads to Down Day

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The first day of the last trading week of April signaled another bad day for financial stocks as the industry remains the worst performer of 2016. Goldman Sachs contributed to most to declines. Wall Street Dick Bove, vice president of equity research at Rafferty Capital Markets said today about Goldman Sachs:

“Goldman Sachs has gone through a “lost decade” and needs to reconsider its strategy.”

See more below.

The Federal Open Market Committee is not expected to move on interest rates at its meeting scheduled for this Tuesday and Wednesday, but investors will carefully look over the statement for any signs on the potential for a possible rate hike this year.

Also today the price of a barrel of oil fell after some banks said that a two-month long rebound in the price of crude has quote “defied fundamentals.”

See more below.

Here are the final numbers from Monday, 4/25/16 on Wall Street: (as of 3:00 pm)

Dow Jones Industrial Average: 17,934.65  (-69.10 / -0.38 %)

NASDAQ: 4,888.71  (-17.48 / -0.36 %)

S&P 500: 2,083.61 (-08.14 / -00.39%)

Market Watch: Market treads water ahead of next week’s Fed Mtg.

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It was a relatively quiet end to the week on Wall Street which marked the calm before the storm in terms of next weeks Fed meeting.  The Federal Open Market Committee is not expected to raise interest rates after their gathering next Tuesday & Wednesday, but investors will be watching closely as to what the Fed governors think about current economic growth.

See more from CNBC below.

Microsoft traded more than 7 percent lower, on pace for its worst day since Jan. 27, 2015. For the week the Dow finished up 97 points.

Here are the final numbers from Friday, 4/22/16 on Wall Street:

Dow Jones Industrial Average: 18,003.75  (+21.23 / +0.12 %)

NASDAQ: 4,906.23  (-39.66 / -0.80 %)

S&P 500: 2,091.58 (+00.10 / 00.00%)

Market Watch: Earnings Reports & Apple Depress Wall Street

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Wall Street today gave back much of what it made over the first three days of the week thanks to disappointing earnings reports and poor performances from transportation & energy stocks. The Dow dropped below the 18,000 mark while oil settled $1 lower, or down 2.3% at $43.18 a barrel.

There was also a great deal of concern over slumping iPhone sales figures. Apple stock is dropping so badly right now that its entering bear market territory. A bear market is considered to be a decline of 20% from recent highs. Apple shares are currently down 21% below the 52-week high of $134.54 from April 28, 2015 and the tech giant announced yesterday that it would delay its next earnings announcement until April 26th- a day later than expected. There is greater worry that Apple is reaching the saturation point for sales of its popular iPhone. Read more here.

Here are the final numbers from Thursday, 4/21/16 on Wall Street:

Dow Jones Industrial Average: 17,982.52  (-113.75 / -0.63 %)

NASDAQ: 4,945.89  (-2.24 / -0.05 %)

S&P 500: 2,091.48 (-10.92 / -0.52%)

Market Watch: Stocks Give back Most of Today’s Gains

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For most of the day markets were flirting with high water marks for the year and then started retreating in late afternoon trading. The Dow still closed at its highest level since July of last year, while the NASDAQ inched closer to the 5,000 level. Energy stocks again led winners after oil traded lower but held mostly above $40 a barrel.

Peter Coleman, head trader at Convergex told CNBC-

“Stocks are rising with people putting money to work during earnings season and continued short covering along with more of a risk-on sentiment around the world right now, and there has been some support for stocks from the rise in oil prices, but the correlation has declined recently.”

In the meantime, there is just over a month  before a referendum vote in the United Kingdom to decide whether or not Britain should leave the European Union. British Chancellor George Osborne said a vote to leave the European Union would do permanent damage to the country’s economy. But supporters of the so called “Brexit” say the EU will hold Britain and the U.K. back. See more from CNN/Money below.

Here are the final numbers from Wednesday, 4/20/16 on Wall Street:

Dow Jones Industrial Average: 18,096.27  (+42.67 / +0.24 %)

NASDAQ: 4,948.13  (+7.80 / +0.16 %)

S&P 500: 2,102.40 (+1.60 / +0.08%)

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