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Showing posts from March, 2015

March 28, 2015 – Weekend Market Comment

March 28, 2015 – U.S. stocks closed mildly higher on Friday as investors digested Fed Chair Janet Yellen's remarks remained cautious ahead of first quarter earnings in April.

U.S. stocks closed mildly higher on Friday as investors digested Fed Chair Janet Yellen's remarks remained cautious ahead of first quarter earnings in April.

The Dow Jones industrial average closed up 34.43 points, or 0.19 percent, at 17,712.66, with Intel and UnitedHealth leading gains and Chevron the greatest laggard. The blue chip index fell 2.29 percent this week, for its worst week since Jan 30. The S&P 500 closed up 4.87 points, or 0.24 percent, at 2,061.02, with health care leading six sectors higher and energy the greatest laggard. The index closed down 2.23 percent for the week, its worst since the week ending January 30. The Nasdaq closed up 27.86 points, or 0.57 percent, to 4,891.22. The index closed down 2.69 percent for the week, its worst since the week ending October 10. Advancers were a …

March 21, 2015 – Weekend Market Comment

March 21, 2015 – U.S. stocks jumped about 1 percent to close near highs on Friday, continuing several days of alternating gains and losses as investors weighed a weaker dollar amid options expirations. The Dow Jones industrial average and S&P 500 broke three weeks of consecutive losses to post gains of more than 2 percent for the week. The Dow Jones Industrial Average briefly rose more than 225 points before paring gains to close up 168.62 points, or 0.94 percent, at 18,127.65, with Nike leading gains and Apple and UnitedHealth the greatest laggards. The blue chip index posted gains of 2.13 percent for the week.

The Nasdaq closed up 34.04 points, at 0.68 percent, at 5,026.42, above the psychologically key level of 5,000 for the second time since the tech bubble in March 2009. The index had its best weekly gain since the week ending October 31 as the index approached its 15-year record closing high of 5,048.62. Biotech stocks and Facebook led gains. The S&P 500 closed up 18.79 p…

March 14, 2015 – Weekend Market Comment

March 14, 2015 – U.S. stocks closed lower on Friday, as a week of mixed economic data, renewed dollar strength and sharply lower oil prices made traders cautious ahead of next week's Fed meeting.

As predicted here, again the Dow fell this week. Friday it dropped more than 250 points before recovering to close 145 points lower. The major indices declined, with nearly all blue chips lower and all S&P 500 sectors in the red. The Dow and S&P 500 posted their third week of declines, while the Nasdaq closed lower for the second straight week.

The Dow Jones Industrial Average closed down 145.91 points, or 0.82 percent, at 17,749.31 with IBM the greatest laggard and Microsoft leading seven blue chip advancers. The S&P 500 closed down 12.55 points, or 0.61 percent, at 2,053.40, with utilities leading all ten sectors lower. The Nasdaq closed down 21.53 points, or 0.44 percent, at 4,871.76. The U.S. 10-year Treasury yield traded higher near 2.12 percent. About two shares decline…

March 7, 2015 – Weekend Market Comment

March 7, 2015 – U.S. stocks closed down more than 1 percent on Friday as investors weighed a jobs report that indicated an interest rate hike could come sooner rather than later.

The Dow Jones industrial average closed below 18,000 for the first time since February 19. The index had its worst day in a over a month, briefly falling more than 300 points, down more than 1.5 percent. The report sent turbulence into bond markets, with the U.S. 10-year Treasury note yield rising to 2.25 percent and the 2-year surging to 0.73 percent on increased anticipation of an interest rate hike.

February's nonfarm jobs report showed a gain of 295,000, above expectations of 240,000 in February, down from 257,000 in January. The unemployment rate fell to 5.5 percent, while hourly wages ticked up 0.1 percent, below consensus and off the surprise 0.5 percent gain in January. The report sent turbulence into bond markets, with the U.S. 10-year Treasury note yield rising to 2.25 percent and the 2-year surgi…