“When the market is on a roll like this, it ultimately looks for excuses for profit taking, and retail sales provided that.” – Tony Dwyer, equity strategist FTN Midwest Research (subscription required) About an hour ago Barry Ritholtz at The…
4 weeks ago (Tue 4/9, “Back to Reality – Earnings Season Kicks Off”), I was skeptical that markets could power through what looked to be an upcoming disappointing earnings season. I quoted E.S. Browning from the Wall Street Journal that…
The S&P 500 closed today at 1502 – the first time it’s closed above 1500 since Sept 7, 2000. The all-time closing high for the S&P 500 of 1527.46 on March 24, 2000 seems destined to fall. Dow 13,000. Now…
After rallying as much as 40 points earlier in the day, the Dow went into free fall in the last 2 hours of trading today losing about 90 points in that time. My sense is that this was just people…
At 8:30am EST, or about 5 hours from now, the Commerce Department will make its first stab at reporting 1st quarter Real GDP. Economists are estimating a measly 1.8% growth. In his “Ahead of The Tape” column from today’s (Fri…
If this chart doesn’t scream “Sell China” I don’t know what does. That chart looks to me like it’s about to curl around and head back in time while going up at the same time. Some trick that would be!!!! …
On the back of Google’s superb earnings report after the close yesterday, the market has taken off. The Dow has powered through 12900 for the first time in its history, up 124 points with an hour and a half left…
The S&P 500 closed today up 15 to 1468, marking a 6 1/2 year high. That’s 8 points higher than the most recent high close of 1460 on Tuesday February 20 – the week before the huge sell-off of February 27. To say…
Writing in today’s Wall Street Journal E.S. Browning said (subscription required): Whether, and how, the [forthcoming 1st quarter] profit news surprises investors is likely to be the main determinant of the market’s direction in the next few weeks. Finally we can…
” … They can’t say what they really think. The Fed knows how important confidence is, and they do not want to do anything to discourage consumer sentiment or spook the psychology of the markets.” – Barry Ritholtz, “FOMC Statement,…