This morning before the open two of the biggest retailers Walmart (WMT) and Home Depot (HD) reported their quarterly earnings. Walmart forecast a weak 3Q and full year citing economic pressure on its customers. Investors didn’t respond favorably to what…
I remember sitting down in front of my TV on Tuesday February 27 as the clock hit 12:00pm out here in California – the start of the final hour of trading. And I remember the Dow just plunging – from…
The market is acting a little schizo right now. After being down 100 or so points in the immediate aftermath of the FOMC announcement, it reversed course and at one point was up around 100 points (XLF chart). Currently, it’s…
In the statement that accompanied the Fed’s decision to hold rates steady today, Fed Chairman Ben Bernanke acknowledge the ongoing turmoil in credit markets but gave no hint that rates might be cut in response anytime in the near future….
[The Fed] “might reference recent market movements by talking about the ongoing repricing of risk….” – Drew Matus (subscription required), Senior Economist, Lehman Brothers Well aren’t we just so excited about seeing Uncle Ben tomorrow!!! I mean would you look at that:…
“Markets will be hungry for any good news next Tuesday, and may take the Fed’s words the way a plain girl or guy who hasn’t had a date in months would when his telephone starts ringing.” – The Lindsey Group…
“Bear Stearns is the fundamental issue [today]“. – Joe Keating (subscription required), Chief Investment Officer, First American Asset Management “Bear Stearns has a relatively high degree of reliance on the US mortgage and leveraged finance sectors, and its revenues and profitability…
The stock market is the most amazing thing. Everyday and throughout the course of a trading day new information comes out and you can see, immediately, the market processing that information via changes in securities prices. A company reports earnings…
This weekend, in his “Current Yield” column for Barron’s, Randall Forsyth wrote the best concise explanation I’ve read for what is going on in markets now in an article entitled “Giving Credit Its Due, Finally” (subscription required – e-mail me and…
“Although the overall market is up, I’m seeing a balance of buyers and sellers. There are people taking advantage of the ‘up’ market to do some profit taking.” – Joe Ranieri (subscription required), Co-Head of Trading, Canaccord Adams The Dow was…