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Showing posts from December, 2014

December 26, 2014 – Weekend Market Comment

December 26, 2014 – U.S. stocks opened slightly higher on Friday, with major indexes on track for a second straight weekly advance, though moves were likely to be slight with few market catalysts and many traders still out for the Christmas holiday.

U.S. stocks rose on Tuesday, with the Dow closing above 18,000 for the first time ever and the S&P 500 ending at a record after an unexpectedly strong report on economic growth.

The Nasdaq ended modestly lower, pressured by the biggest selloff in biotech names in many months, while trading was light ahead of the Christmas holiday. Markets were closed early on Wednesday and Thursday.

Both the Dow and S&P 500 hit intraday records in their fifth-straight day of gains. The Dow rose as high as 18,069.22 and is up about 175 percent from a 12-year closing low hit on March 9, 2009. The S&P's record close was its 51st such record this year. 

The final estimate for third-quarter U.S. economic growth was revised up to a 5 percent annual p…

December 13, 2014 – Weekend Market Comment

December 13, 2014 – Well yes the drop in oil is the big story but a new twist, this week, the International Energy Agency (IEA) cut its forecast for global oil demand for the fifth time in six months. It attributed that lack of demand to weakening global economic conditions. As predicted that caused the price of crude and brent oil to plunge to five year lows on Friday, hurting anything tied to oil production. That includes energy shares and stocks of countries that export energy. Big national losers continue to be Canada, Latin America, and Russia. Added to this week's list of big losers were Britain and Norway, and any number of oil-producing nations in the Mideast and Africa.

The Dow Jones Industrial Average declined 315.51 points, or 1.8 percent, to 17,280.83, down 3.8 percent from the week-ago close, its worst weekly loss since November 2011. International Business Machines led blue-chip losses that extended to all 30 components. Recording its worst weekly hit since May 2012, …

December 6, 2014 – Weekend Market Comment

December 6, 2014 – U.S. stocks rose on Friday, lifting the Dow and S&P 500 into uncharted terrain and posting a seventh week of gains, as investors embraced a stronger-than-forecast November payrolls report as backing the view the economy can handle rate hikes by the Federal Reserve in 2015.

We have the pieces of the U.S. economy coming together, with robust jobs growth, falling gas prices giving consumers lots of confidence to spend money, and low interest rates. It's a great holiday gift going into the end of the year. U.S. employers created 321,000 jobs last month, the largest gain since January 2012, and topped the most cheery estimates. The unemployment rate remained unchanged at a six-year low of 5.8 percent, and hourly earnings increased 0.4 percent.

Just look at Non-Farm Payroll it will not be long before the US runs out of cheep labor again.

After a 91-point advance lifted it to a intraday record and within 9 points of the psychological milestone of 18,000, the Dow Jones…