Daily Wrap
DJIA +106.20 (+0.72%) to 14,818.75; S&P 500 +11.37 (+0.72%) to 1,593.61; NASDAQ +26.40 (+0.93%) to 2,866.95 The market continues its recovery from the recent dip now not also challenging recent highs but making all time highs (closing and intraday). The trend remains strongly in-tact with the SPY up over 12.36% YTD and maybe more astoundingly 16.99% over a rolling 12 month period. In economic news today we saw Personal Spending meet forecasts with a 0.2% increase but Personal Income not only missed forecasts of a 0.4% gain but actually ticked down 0.2%. Lastly, Pending Home sales beat expectations with a 1.5% increase over last month when…
Daily Wrap
DJIA +7.22 (+0.05%) to 13,986.52; S&P 500 +0.83 (+0.05%) to 1,512.12; NASDAQ -3.10 (-0.10%) to 3,168.48 Today was a sloppy up day that saw the S&P 500 spend the majority of the day down except for a midday and then end of day rally which equate to less than a 1 point gain. I noted last night that this week does not have much in the way of planned economic data or events and therefore it is likely that the headlines will be focused on the earnings being announced. Today seems to be an example of how there just didn’t…
Week in Review
DJIA +81.09 (+0.62%) to 13,155.13; S&P 500 +4.13 (+0.29%) to 1,418.07; NASDAQ -11.23 (-0.38%) to 2,978.04; Friday’s action was a mixed day but predominantly based on on a stock of the day and for that matter the week, Apple Computers (AAPL). I do not refer when the Dow leads for the day and week as while it is comprised of some of the bigest companies and brands in the US, it is also the smallest price weighted index and these days is often regarded as a poor judge for the broad market. The word of the week from last Week in…