Market Watch: Wall Street Holds on to Small Gains

December 14, 2015

It was the start of a monumentally important week on Wall Street as the Fed will consider whether to raise interest rates midweek. It is widely expected that after the Federal Reserve’s Open Market Committee’s two day meeting on Wednesday, the Fed will decide to raise interest rates by a quarter percentage point, the first such rise in the key lending rate in nearly a decade. The expectation has been based on Fed Chair Janet Yellen’s comments that she’d like to see rates rise before the end of 2015. Stocks eaked out some small gains, thanks to a small rise in the price of oil. U.S. crude oil settled up 69 cents, or 1.94 percent, at $36.31 a barrel, ending a six-day drop in the price of a barrel of crude, that took it to its lowest level in nearly seven years.

More on what a rate hike could mean from CNBC’s Art Cashin below.

Here are the final numbers from Monday, 12/14/15 on Wall Street:

Dow Jones Industrial Average: 17, 368.50 (+103.29/ +0.60%)

NASDAQ: 4,952.23 (+18.76 / +0.38%)

S&P 500: 2,021.94 (+9.57 / +0.48%)

Market Watch: Oil Plunge Takes Stocks Along

Phil Cannella

December 11, 2015

The continued free-fall in the price of oil sent stocks into a downward spiral today. A 3% decline in energy issues led to to losses across the board-the 4th down day of 5 this week. The Dow fell over 309 points, while the NASDAQ dipped below 5,000. Oil closed down $1.14 or just over 3% at $35.62 a barrel. There was speculation that today’s drop may cause the Fed to question whether to raise interest rates next week.

Bill Stone, chief investment strategist at PNC Asset Management said:

“The precipitous decline in oil may be something (the Fed) pauses on but I suspect they say it’s something that will pass.”

Art Cashin, the director of floor operations for UBS at the NYSE told CNBC’s “Squawk Alley” today that- “We could be in trouble.”

Watch below.

Here are the final numbers from Friday, 12/11/15 on Wall Street:

Dow Jones Industrial Average: 17,265.21 (-309.54/ -1.76%)

NASDAQ: 4,933.46 (-111.71/ -2.21%)

S&P 500: 2,012.37 (-39.86 / -1.94%)

Market Watch: Wall St. Snaps 3 Day Losing Streak

Phil Cannella

December 10, 2015

For the first time this week, Wall Street finished in the black as the markets broke a three day losing streak.

Adam Sarhan, CEO of Sarhan Capital told CNBC:

“In general, when you step back, we’re still range-bound,” he said. The major averages have closed lower for five out of the last six sessions, and are on track for weekly losses of more than 1 percent.”

Today’s gains on Wall Street came despite another drop in oil prices. The price of a barrel of oil settled down 40 cents, or 1.08 percent, at $36.76 a barrel. All this as investors await next week’s Fed announcement on interest rates. CME’s FedWatch says there’s an 85% percent chance of the Federal Reserve raising rates at its meeting next week for the first time in nearly a decade.

See what Art Cashin, Director of Floor Operations at UBS, thinks the stock market will do next year.

Here are the final numbers from Thursday, 12/10/15 on Wall Street:

Dow Jones Industrial Average: 17,574.75 (+22.31/ +0.44%)

NASDAQ: 5,045.17 (+104.74 / +2.08%)

S&P 500: 2,052.23 (+4.61 / +0.23%)

Market Watch: Stocks Suffer 3rd Straight Day of Losses

Phil Cannella

December 9, 2015

Wall Street’s losing streak continued for a 3rd consecutive day as the week remained in the red. The S&P 500 dropped into negative territory for the year, while the Dow has now lost over 353 points this week alone. The NASDAQ is down nearly 119 points so far this week. Once again oil, as it has been for all three days of the trading week was one of the main reasons for the negative vibe from investors today. Oil closed down at $37.16 a barrel, its lowest since Feb. 2009.

Sharon Stark, managing director and fixed income strategist at D.A. Davidson told CNBC:

“I think that the market’s looking at oil and really just waiting for the Fed to make their move next week.”

With only a couple weeks remaining in the year, Citigroup has tempered its outlook for stocks next year. Watch more from CNBC below.

Here are the final numbers from Wednesday, 12/9/15 on Wall Street:

Dow Jones Industrial Average: 17,492.30 (-75.70/ -0.43%)

NASDAQ: 5,022.87 (-75.38 / -1.48%)

S&P 500: 2,047.62 (-15.97 / -0.77%)

Market Watch: Oil, The Fed & China Cause Stocks to Waver

Phil Cannella

December 8, 2015

With just one week to go before the Federal Reserve is expected to raise interest rates for the 1st time since June of 2006s, global stocks faced another down day today as the price of oil dropped again and metals lagged. The Dow finished down over 161 points.

According a report in the Wall Street Journal, investors are betting that the Fed will raise rates as they have placed a record $26.6 billion in wagers that 5-year U.S. Treasury notes will react positively to a rate hike in December. There were also fresh signs of weakness in China’s economy and that worried investors that it could have an effect on other economies around the world. The S&P 500 Index dropped for the 4th time in 5 days as the cost of a barrel of crude oil fell to its lowest price since 2009. China’s slowing trade increased worry over the country’s economy and iron ore fell to a historic low.

Here are the final numbers from Tuesday, 12/8/15 on Wall Street:

Dow Jones Industrial Average: 17,569.47 (-161.04/ -0.91%)

NASDAQ: 5,098.24 (-3.57 / -0.07%)

S&P 500: 2,063.62 (-13.45 / -0.65%)

Market Watch: Big Drop in Oil Leads to Down Day

Phil Cannella

December 7, 2015

The first day of the trading week on Wall Street was covered in red as all three of the major indices took a hit. The energy sector was the biggest loser with oil down $2.32 to $37.65 a barrel, the lowest level since February 2009- A seven year low. Peter Cardillo, chief market economist at First Standard Financial told CNBC:

“Obviously it’s about oil below $40, a new year-low. That’s going to pressure things and induce some profit-taking today. After Friday’s surge, the fact that oil prices are lower is probably going to impact the market on the negative side.”

Market Watch: Stocks Soar on Week’s Final Trading Day

Phil Cannella

December 4, 2015

Comments by European Central Bank (ECB) President Mario Draghi and a solid jobs report boosted investors’ confidence as stocks rose 2% across the board today. The Dow added almost 370 points while the NASDAQ was up by over 104 points.

ECB chief Mario Draghi told the Economic Club of New York that:

“There are no particular limits to the ECB’s policy tools. Thanks to our monetary policy actions, the risk of deflation in the euro area is firmly off the table. The ECB’s easy policy is having its “intended” effects, and the bank sees “no particular limit” to how it can use tools. The ECB would “no doubt” intensify policy like its quantitative easing program, if needed. QE is there to stay. If needed, it could be re-calibrated but it will extend its bond-buying program to at least March 2017, “

The November jobs’ report also gave investors confidence that the U.S. economy could withstand a possible Fed interest rate hike this month. The economy added 211,000 jobs in November, and the unemployment rate remained unchanged at 5%. The October employment report was also revised up to 298,000.

Here are the final numbers from Friday, 12/4/15 on Wall Street:

Dow Jones Industrial Average: 17,847.63 (+369.96/ +2.12%)

NASDAQ: 5,142.27 (+104.74 / +2.08%)

S&P 500: 2,091.65 (+42.07 / +1.07%)

Market Watch: Stocks Plunge as Rate Hike Looms

Phil Cannella

December 3, 2015

Any ideas of a pre- “Santa Claus” rally on Wall Street faded very quickly today as stocks suffered heavy losses, while investors continue to ponder “if and when” the Fed will raise interest rates possibly next month. At one point today the Dow was down 300 points while the NASDAQ was off more than %1.9 percent. The Dow closed down over 251 points while the S&P 500 fell into negative numbers for the first time this year. Robert Pavlik, chief market strategist at Boston Private Wealth told CNBC:

“I think the market’s a little bit more focused on the Fed moving on rates and the pace going forward. … Additional rate hikes may be coming and the economy really isn’t that strong but for some reason the Fed thinks it is, all because of the jobs number.”

Fed Chair Janet Yellen told a committee of lawmakers on Capitol Hill today that economic conditions are falling into place for a December rate hike and that she does not see any impact from mass shootings or recent attacks around the world on the U.S. economy, but added the terror attacks could have an effect on the economy in the future. Yellen spoke shortly after the European Central Bank (ECB) said that it was cutting a key interest rate and extending its stimulus program to raise attempts to bolster the 19 European countries that use the euro. See more from CNN here.

Here are the final numbers from Thursday, 12/3/15 on Wall Street:

Dow Jones Industrial Average: 17,477.94 (-251.74/ -1.42%)

NASDAQ: 5,037.53 (-85.69 / -1.67%)

S&P 500: 2,049.62 (-29.89 / -1.44%)

Market Watch: Wall St. Down as Dow Goes Negative for the Year

Phil Cannella

December 2, 2015

Energy stocks fell over 3% as oil prices dropped below $40 a barrel -levels not seen since August, 2015. Wall Street suffered losses across the board as the Dow finished in negative territory for the year after Fed Chair Janet Yellen supported the case for a rate hike at the Fed’s December meeting but reiterated that the decision will be dependent on current economic and financial data. The Federal Open Market Committee meets Dec. 15th to the 16th and could raise short-term interest rates for the first time in nearly a decade. By the end of the trading day the Dow Jones Industrial Average lost more than 150 points closing at 17,729.

Market Watch: Stocks Up- Manufacturing Down

Phil Cannella

December 1, 2015

Stocks showed gains on the second trading day of the week despite the fact that the U.S. manufacturing sector contracted in November, dropping to its worst levels in over 6 years when the American economy was still in the middle of a debilitating recession. The latest report by the Institute for Supply Management (ISM) said its index of national factory activity fell to 48.6, the first time the index has been below 50 since November 2012. The 48.6 figure is contraction territory and well below 50.5 which had been expected. It was the worst manufacturing data since June 2009 and the first time the index fell below 50 in three years.

Peter Boockvar, chief market analyst at The Lindsey Group told CNBC-

“We’re in manufacturing recession. The data hit the market big time and the Fed is raising rates in a scenario we’ve never seen before, that scenario being a manufacturing recession. The only reason why we were up earlier was the calendar change. We have to start shifting the conversation to, the data’s good enough to get a rate hike but not enough for a second one.”

Most Popular

This website is strictly for educational purposes and is not intended to provide specific legal, financial, or tax advice. Phil Cannella and Joann Small are licensed professionals in the insurance industry. Crash Proof Retirement®, LLC. and Retirement Media, Inc ®. do not recommend or sell securities to anyone at any time. Any interviews conducted by Retirement Media, Inc ®. published on this website are not to be considered endorsements. Crash Proof Retirement®, Crash Proof Retirement® Show, and Retirement Media, Inc. ®, and all related uses, are federally trademarked with the United States Patent and Trademark Office. Any company or individual found violating these federal trademarks will be vigorously pursued through all available legal avenues and penalized to the fullest extent of the law. © 2024 Retirement Media, Inc ®., All Rights Reserved.

Market Watch: Wall Street Holds on to Small Gains

Market Watch: Oil Plunge Takes Stocks Along

Market Watch: Wall St. Snaps 3 Day Losing Streak

Market Watch: Stocks Suffer 3rd Straight Day of Losses

Market Watch: Oil, The Fed & China Cause Stocks to Waver

Market Watch: Big Drop in Oil Leads to Down Day

Market Watch: Stocks Soar on Week’s Final Trading Day

Market Watch: Stocks Plunge as Rate Hike Looms

Market Watch: Wall St. Down as Dow Goes Negative for the Year

Market Watch: Stocks Up- Manufacturing Down

Recent Posts

The Impact of Repealing the Glass-Steagall Act

Study: 40% of Retirees Plan to Return to the Workforce in 2024

THIS WILL CHANGE EVERYTHING

The Investment Gender Gap: Women Feel Ignored by Financial Advisors

Adjusting Your Investment Strategy as You Age

Most Popular

The Impact of Repealing the Glass-Steagall Act

Study: 40% of Retirees Plan to Return to the Workforce in 2024

THIS WILL CHANGE EVERYTHING

The Investment Gender Gap: Women Feel Ignored by Financial Advisors

Adjusting Your Investment Strategy as You Age