Wall Street Update and Outlook Previous close Chg % chg DOW 11,143.69 80.91 0.73% Nasdaq 2,480.66 11.89 0.48% S&P 1,184.71 8.52 0.72% Source: Yahoo Finance Citigroup led the rebound in bank stocks on an upbeat earnings report. It jumped 5% yesterday night. However, this cannot be said for energy stocks which weakened as Halliburton slumped over its 3Q results. Retailer stocks also did not have a good day as well as JC Penney declined in response to a short-term stockholder rights plan that is likely intended to fight off institutional control. Fewer than 1b shares were transacted on the NYSE, […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,062.78 -31.79 -0.29% Nasdaq 2,468.77 33.39 1.37% S&P 1,176.19 2.38 0.20% Source: Yahoo Finance Earnings, Bernanke, and data were in focus on Friday, but the major averages diverged as the Nasdaq jumped (attributed to the huge rally in Google shares), the Dow dragged, and the S&P 500 settled flat. Comments from Fed Chairman Bernanke were also in focus this morning. His comments indicated that further quantitative easing and accommodation are likely, all else equal, caused the dollar to dance. The greenback swung sharply between positive and negative ground before […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,094.57 -1.51 -0.01% Nasdaq 2,435.38 -5.85 -0.24% S&P 1,173.81 -4.29 -0.36% Source: Yahoo Finance Stocks logged their first loss in five sessions as weakness among bank stocks imbued broader market trade and the dollar pared its loss. Data was of little consequence this session. A lack of direction in the early going left stocks vulnerable to a broader slide that was led by bank stocks. Banks succumbed to a concerted selling effort related to concern regarding banks’ handling of foreclosures and representation of mortgage loan pools for use in […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,096.08 75.86 0.69% Nasdaq 2,441.23 23.31 0.96% S&P 1,178.10 8.33 0.71% Source: Yahoo Finance Strong earnings and a slide in the dollar sent stocks to fresh five-month highs this session. Some of the gains were surrendered into the close, though. Buying was initially stirred by better-than-expected earnings from bellwethers Intel (INTC 19.24, -0.53) and JPMorgan Chase (JPM 39.84, -0.56). Though neither name actually advanced, their announcements were enough to add to the stock market’s recent momentum, which has seen the S&P 500 close higher for four straight sessions. JPM […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,020.40 10.06 0.09% Nasdaq 2,417.92 15.59 0.65% S&P 1,169.77 4.45 0.38% Source: Yahoo Finance Though stocks were quick to recover from an early slide, the broader market stagnated near the neutral line until word of possible quantitative easing pushed stocks into positive ground for a solid finish. Moderate, yet widespread weakness had dropped the stock market for a loss in the early going. Near-term support provided a floor for a rebound, but the S&P 500 struggled to turn positive with the dollar holding out in positive territory. The dollar […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,010.34 3.86 0.04% Nasdaq 2,402.33 0.42 0.02% S&P 1,165.32 0.17 0.01% Source: Yahoo Finance Stocks spent most of the session chopping along listlessly with modest gains until a flurry of late selling led to a flat finish. A lack of headlines left stocks with few drivers this morning, but a modest bid helped keep the major averages in positive territory. Still, conviction appeared lacking as there was little support when stocks were tested with resistance near last week’s highs. Stocks were also backed down by the greenback’s gains — […]

Wall Street Update and Outlook Previous close Chg % chg DOW 11,006.48 57.90 0.53% Nasdaq 2,401.91 18.24 0.77% S&P 1,165.15 7.09 0.61% Source: Yahoo Finance The market was able to advance even in the face of some ugly employment numbers as the data increased the chances that the Fed will implement a second round of quantitative easing. The notion that the Fed may expand its quantitative easing program to kick start the recovery prompted most of the buying interest in the equity market. It pushed the dollar down 1.2%, with the yen climbing to a 15-year high and the Australian […]