Daily Wrap
DJIA –14.05 (-0.10%) to 13,881.93; S&P 500 -2.78 (-0.18%) to 1,500.18; NASDAQ +4.59 (+0.15%) to 3,154.30 I had to blink twice and rub my eyes but it was true that the S&P 500 closed lower. The Dow followed suit but AAPL finally having an up day helped the Nasdaq manage to eek out a small gain. Now before we get crazy, this was a near 3 point down day on the S&P after 8 straight days of moving higher. I have been looking for some consolidating which really hasn’t come to fruition. Any pullbacks still look to be greater opportunities…
Daily Wrap
DJIA +46.00 (+0.33%) to 13,825.33; S&P 500 +0.01 (+0.00%) to 1,494.82; NASDAQ -23.29 (-0.74%) to 3,130.38 As expected the Nasdaq lagged today because of Apple Computers (AAPL) and their lack luster earnings results (or at least not up to expectations). Otherwise the S&P 500 probably couldn’t have shown any more indecision closing higher by 1 penny and likely continuing to showcase that it needs a pause/pullback to refresh. What was positive for the market was to see the Small caps lead and again we got a second straight week of better than expected Unemployment data coming in at 330K. Apple…
Daily Wrap
DJIA +67.12 (+0.49%) to 13,779.33; S&P 500 +2.25 (+0.15%) to 1,494.81; NASDAQ +10.49 (+0.33%) to 3,153.67 All in all today was a nothing as we started around flat and stayed flat the majority of the day until we (again) rallied into the close after lunch. After the close we had Apple Computers (AAPL) report earnings which slightly beat EPS estimates but slightly missed on revenues. The futures dropped at the same time as AAPL reported and started to decline and now stand down about 7 points as I write. Apple (AAPL) clearly is driving discussion after the close and it…
Daily Wrap
DJIA +62.51 (+0.46%) to 13,712.21; S&P 500 +6.58 (+0.44%) to 1,492.56; NASDAQ +8.47 (+0.27%) to 3,143.18 Today was an interesting day. 4 Dow names reported before the bell but due t their mixed nature it didn’t seem to help provide any conviction either way so the market erred on the being down side. After wavering for the early part of the day the S&P finally pressed into positive territory around lunch and then started a trek higher closing up over 6 points for the day. In economic news, US existing home sales came in below estimates for December and the Richmond Fed Manufacturing survey looked to…
Daily Wrap
DJIA +84.79 (+0.63%) to 13,596.02; S&P 500 +8.31 (+0.56%) to 1,480.94; NASDAQ +18.46 (+0.59%) to 3,136.00 Today started with a gap higher and then continued leaving a chart which moved from the lower left to upper right. The market really started its move after we got a much better than expected Weekly jobless claims number which came in at 335K vs the expected 369K. The markets did make their high just after 2pm and moved lower into the close and after the close but not destructively so. The news causing the decline may have been from Dallas Fed hawk Fisher…
Daily Wrap
DJIA -23.66 (-0.17%) to 13,511.23; S&P 500 +0.29 (+0.02%) to 1,472.63; NASDAQ +6.76 (+0.22%) to 3,117.54 Again we have another day where the markets were somewhat mixed but overall were overall boring. Opening roughly 4 points lower the S&P rallied to close slightly positive. Today we had the Fed Beige Book but obviously there was nothing ground breaking to the markets and now focus will switch to tomorrow’s jobs data. Last week saw a slight uptick in claims to 371K and this week’s expectation is roughly the same at 369K. Boeing (BA) closed down over 3% today and the news does not look promising. Following a…
Daily Wrap
DJIA +27.57 (+0.20%) to 13,534.89; S&P 500 +1.66 (+0.11%) to 1,472.34; NASDAQ -6.72 (-0.22%) to 3,110.78 A gap down in the morning set the lows on the S&P 500 for the day as we then steadily rose the rest of the day making highs near the close. Overall the data released today was mixed with Retail Sales beating very low expectations, PPI slightly lower than expected and January Empire State Manufacturing better than the previous month but well below expectations. The Nasdaq was the only major down and with AAPL losing another 2.3% along with the $500’s it is not surprising. Moving higher today to the…
Daily Wrap
DJIA +18.89 (+0.14%) to 13,507.32; S&P 500 -1.37 (-0.09%) to 1,470.68; NASDAQ -8.14 (-0.26%) to 3,117.50 Technically it was a mixed day but who really cares about the Dow? Today started and finished lower on the S&P but otherwise was very tight ranged spanning less than 6 points from low to high. Ben Bernanke spoke just after the close but so far it seems to not have any effect as the futures are up less than 1 point after the close as I am typing. Today’s major stock of the day and has often been my stock of the day…
Daily Wrap
DJIA +80.71 (+0.60%) to 13,471.22; S&P 500 +11.10 (+0.76%) to 1,472.12; NASDAQ +15.95 (+0.51%) to 3,121.76 Today’s session started like yesterday’s with early strength that started to wane as the morning went on. Today differed in that around the 11-11:30 AM EST time we bottomed and then moved higher the remainder of the day. Before the market opened we got slightly worse than expected jobs numbers but for many traders those were offset by strong export data out of China. With earnings season still a week away the market looks like it is happy to continue higher. The big stock…
Daily Wrap
DJIA +61.66 (+0.46%) to 13,390.51; S&P 500 +3.87 (+0.27%) to 1,461.02; NASDAQ +14.00 (+0.45%) to 3,105.81 The highs for today were set in very early trading and then the rest of the day was spent pulling back although never going into negative territory. I would define today as orderly and we do have Unemployment data tomorrow so I am not surprised to see a quiet day ahead. Apollo Group Inc.’s (APOL) was in the new today and in negative fashion. After the close yesterday, APOL reported Net Income that were 11% lower than the previous year but still beat on…