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Showing posts from February, 2015

February 28, 2015 – Weekend Market Comment

February 28, 2015 – U.S. stocks posted gains of 5 percent or more in February, despite closing modestly lower on the last trading day of the month on Friday amid lackluster data and oil gains. 

The Dow Jones Industrial Average closed down 82 points, or 0.45 percent, at 18,132.38, with American Express the greatest laggard and Coca-Cola the greatest of seven blue chip advancers. The Dow gained 5.64 percent for the month, its best since January 2013. The S&P 500 closed down 6.24 points, or 0.30 percent, at 2,104.49, with information technology the greatest decliner and consumer staples and telecommunications the only two advancing sectors. The S&P was up 5.49 for the month, the best since October 2011. The Nasdaq closed down 24.3 points, or 0.49 percent, at 4,963.53. The index gained 7.08 percent for the month, its best since January 2012. Advances were a step ahead of decliners on the New York Stock Exchange, with an exchange volume of 738 million and a composite volume of 3.3 b…

February 21, 2015 – Weekend Market Comment

February 21, 2015 – U.S. stocks rallied on Friday to close at highs on an eleventh-hour resolution between Greece and its creditors in the euro zone. The Dow Jones industrial average closed up more than 150 points, its first record close for 2015. The S&P 500 ended the week at its third record close for the year. The Nasdaq also closed higher, within 50 points of the key 5,000 level.

The Dow Jones Industrial Average closed up 154.9 points, or 0.86 percent, at 18,140.70, with Procter & Gamble the greatest of five laggards and Boeing trading at all-time highs (since 1952) to lead blue-chip advancers. The S&P 500 closed up 12.85 points, or 0.61 percent, at 2,110.30, with health care leading gains across all sectors except energy. The Nasdaq closed up 31.27 points, or 0.63 percent, at 4,955.97. Two stocks advanced for every decliner on the New York Stock Exchange, with an exchange volume of 734 million and a composite volume of 3.1 billion in the close.

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February 14, 2015 – Weekend Market Comment

February 14, 2015 – U.S. stocks closed at highs on Friday, with the Dow above 18,000 and S&P 500 setting a new record as firming oil prices sent the energy sector higher. The Dow Jones industrial average closed up 46.97 points, or 0.26 percent, to 18,019.35, with Caterpillar leading 16 blue chip advancers and American Express the greatest laggard. The last time the index closed above 18,000 was on Dec. 26, 2014. The S&P 500 closed up 8.51 points, or 0.41 percent, at 2,096.99, with the energy sector up 1.95 percent to lead six sectors higher and utilities the greatest decliner. The Nasdaq closed up 36.22 points, or 0.75 percent, to 4,893.84, its highest level since March 2000, the peak of the dotcom bubble. The Russell 2000 also closed at a record high. 

Amoung the good news, the European Central Bank allowed Greek banks to access extra emergency financing from the Bank of Greece because deposit outflows have increased and to ensure they have liquidity while discussions continue…