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Showing posts from September, 2014

September 27, 2014 – Weekend Market Comment

September 27, 2014 – U.S. stocks plummeted Thursday over 1% in a day due to hawkish talk from the Fed's Fisher and rumors Russia may enact laws to seize foreign assets.  Thursday the S&P 500 stocks dived 1.3 per cent to 5313 points. At the forefront is the US Federal Reserve, which flagged it would next year begin raising interest rates — after six year of being near zero — as the economy picks up steam, driving bond yields and the greenback higher.

This was followed by Friday when stocks rose sharply, cutting losses for the week, after the government raised its estimate of economic growth in the second quarter and consumer sentiment rose in September.

After a 202-point jump Friday morning, the Dow Jones Industrial Average pulled back a bit and gained 167.35 points, or 1 percent, to 17,113.15 to mark a fifth day in a row of triple-digit moves, its longest such stretch since June 2013. Nike led blue-chip gains that cut the Dow's weekly drop to 1 percent. The S&P 500 ad…

September 20, 2014 – Weekend Market Comment

September 20, 2014 – U.S. large cap stocks mostly rose on Friday, with the Dow finishing at a record, as investors welcomed Alibaba's market debut and Scotland's vote to remain in the U.K. Just over 55 percent of Scottish voters supported sticking with the nation's 307-year union with the U.K. after Prime Minister David Cameron vowed to give additional policy-making powers to Scotland.
Friday's session also brought a quarterly scenario known as quadruple witching, with futures and options contracts on indexes as well as individual stocks expiring. Scaling back from an 84-point gain that had it setting another intra-day record, the Dow Jones Industrial Average ended up 13.75 points, or 0.1 percent, at 17,279.74, leaving it 1.7 percent higher on the week, with Microsoft pacing blue-chip gains that extended to 18 of 30 components. After setting an all-time high during the session, the S&P 500 lost nearly a point to 2,010.40, less than a point below its record close, ac…

September 13, 2014 – Weekend Market Comment

September 13, 2014 – U.S. stocks closed down on Friday, breaking five weeks of consecutive gains as investors awaited the Federal Reserve's announcement next Wednesday. The Dow Jones Industrial Average closed down 61.4 points, or 0.36 percent, at 16,987.51. The S&P 500 was down 11.9 points, or 0.60 percent, at 1,985.54, with energy and utilities the hardest hit as all 10 sectors closed in the red. The Nasdaq closed 24.2 points lower, or 0.53 percent, at 4,567.60. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13.5. For every advancer, four declined on the New York Stock Exchange in the close, with an exchange volume of 672 million, and composite volume of 3.1 billion.
The Dow Jones Industrial Average and S&P 500 closed near 3-week lows, as energy led S&P declines for the week and the Dow recovered slightly from an earlier 110-point drop on Exxon losses. In addition to the impact of upcoming central bank news, most…

September 6, 2014 – Weekend Market Comment

September 6, 2014 – U.S. stocks erased losses and rose on Friday, with benchmark indexes extending gains into a fifth week, as investors detoured around a surprisingly disappointing jobs report. Wednesday the Dow Industrials and Transports tested their summer highs. The Dow Transports have hit new highs (led by rails and truckers). The Dow Industrials, are testing their July peak. After a 59-point fall, the Dow Jones Industrial Average rose 67.78 points, or 0.4 percent, to 17,137.36, leaving it with a we at weekly gain of 0.2 percent and less than a point from its record close of 17,138.20, set July 16. Nike led blue-chip gains that extended to 22 of 30 components. It might have been a great day for Nike but fellow consume discretionary stock the GAP had a big miss and sold off strong. A cease-fire in Ukraine gave a big boost to Russian stocks as well as European stocks closely tied to Russia. Energy paced gains among the 10 major industry groups on the S&P 500, up 10.06 points, …