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Earnings beats are driving the market higher today. Releases by Microsoft and GE are leading the charge for the Dow. Investors are also watching the French elections closely along with the IMF meetings slated for this weekend.
Currently the Dow is up 104, the Nasdaq 20 and the S&P is adding 9. [Read more...]
To say Wall Street was disappointed with the jobs report would be an understatement. With the holiday weekend. Out of the gates the major indices plummeted to their session lows. While they have since stabilized, the indices are still painted deep in the red.
Two items investors can look forward to that may stick save the rally. One is a speech tonight by Ben Bernanke. His thoughts on the labor markets bore out so it may push them to act on QE3 on a quicker timetable.
The other is earnings season is fast approaching. Now depending on results, it could be a boon to the bulls or give turn the the market over to the bears. Alcoa is set to release on Tuesday so all eyes will there to see if the recovery is still happening or if a setback is looming.
The Dow is currently down 141, the Nasdaq 32 and the S&P 17. [Read more...]
Stocks are reversing earlier losses as jobless claims came in line with expectations. The levels have dropped to a four year low and it looks like the labor market continues to strengthen. The question now becomes one of sustainability. Are the pieces in place for job growth to continue on into summer? The remains to be seen and the underlying numbers in the reports coupled with the constant upward revisions each week so there can be a ‘drop’ muddy the picture.
The other outlier is Europe. That multi-year soap opera refuses to end. Luckily we don’t have to talk about Greece ad nauseum this time. Spain is now the chief concern with bond yields above the pre-LTRO levels. Europe’s seeming inability to come up with a concrete solution could play havoc on the markets in the coming months. Domestically, it seems investors want to shrug off EU concerns but eventually it will have to be dealt with.
Currently the major indices are turning higher with the the Dow gaining 11, the Nasdaq 12 and the S&P 3. [Read more...]
The stock market opened higher today as investors are optimistic about the U.S. economy and the European debt crisis. Stocks gave up some of these gains briefly this morning after the government said business inventories rose 0.7% in the previous month, slightly higher than the forecasted 0.6%. Stocks went right back up though following a positive retail sales report. Retail sales rose 1.1% making it the largest gain in five months. It will be interesting to see what the next few months hold for retail sales as gas prices have increased drastically over the past month.
The Dow is up 51 points this morning, the Nasdaq is up 15 points and the S&P 500 is up 6 points. [Read more...]
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