2nd quarter GDP figures were released this morning and indicated the U.S. economy grew at 2.4% in the quarter.  This came in line with expectations, which were downwardly revised over the last month as newer economic data has been released.  This indicates a trend downward in the rate of growth for the economy, which will […]

U.S. Stocks are set to open higher again Tuesday, as earnings reports continue to drive the market.  The market has cleared some major resistance levels in the last few trading sessions, which suggests that at the very least, an intermediate term rally is under way.  The April highs may get tested this summer, and if […]

U.S. stocks posted an impressive turnaround in Tuesday’s market action, closing up by 75 points in the Dow Industrials after an early 140 point decline.  The S&P 500 was even more impressive, closing higher by 12 points.  The SPOO looks set to test the 1100 level in the next day or two.   While I would […]

U.S. Stocks are under pressure this morning ahead of the open after IBM reported earnings last night that the market did not like.  Housing starts were reported at 549,000 for June, while June Building Permits rose 2.1% after falling 5.9% in May. 
After all this data was digested as I write this, S&P 500 futures are […]

U.S. stocks are set to open mixed this morning, with prices lower in Europe.  Retail sales for June were reported to be down 0.5%, a little weaker than expected, and the second straight monthly decline.  S&P 500 futures are lower by 1.7 points as I write this 10 minutes before the open.  Apple is called […]

U.S. Stocks posted strong gains on Tuesday, in what can be described as a follow through day upon last Wednesday’s big move to the upside.  Although the Dow Industrials only managed a 1.44% gain, the rest of the averages were significantly strong to label this as a follow through day.  Furthermore, volume was higher than […]

U.S. Stocks are up a solid 1.5% across the board at the mid point of trading on Tuesday.  Stocks are up in spite of a downgrade for Portugal, which was shrugged off by European traders.  Stocks are posting strong gains in spite of Apple shares getting pummelled today due to Consumer Reports indicating it could […]

U.S. Stocks appear to be gearing up for a nice upside open Tuesday morning behind nice moves in Europe in spite of a downgrade of Portugal.  At 8 am ET, Dow futures are trading up nearly 60 points, S&P 500 futures are up about 8 points and Nasdaq 100 futures are up about 15.5 points.
Rep. […]

U.S. Stocks closed with modest gains in light trade on Monday as trading shifts to earnings reports.  With little economic news over the weekend and during trading today, stocks traded within a narrow trading range, and it appears the market may have tired out a bit after last week’s big gains. 
Among the big industry performers […]

U.S. stocks are set for a flat to down open as the market consolidates last week’s gains, and earnings reports begin to drive the market.  One issue with last week’s rally is that it was accompanied by low volume.  I was astonished that one of the traders on CNBC said that doesn’t bother him at […]