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      by Larry Levin   There sure are a lot of people out there that simply can't handle the truth that is all around them. Some people seem to just hate any and all bad economic news. “Can't you ignore the bad news and just report the good stuff” they ask? In fact, a few relatives have asked me that very question, which was met with a hearty laugh. Others believe that the world revolves around what the idiots at MSNBC or Rush Limbaugh have to say. These extremely partisan robots therefore perceive anything out of that narrative with vitriolic hatred. … [Read more...]

Stocks Dipping as Ebola Concerns Meet Earnings Data

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    The reported case of Ebola in New York is causing worries to flare-up, offsetting some upbeat earnings reports, and stocks are modestly lower in early action. Dow member Microsoft, UPS and Bristol-Myers Squibb all exceeded the Street's quarterly expectations, while Dow component Procter & Gamble matched estimates, Ford missed revenue projections, and Amazon.com posted a wider-than-expected loss. Treasuries are trading higher, ahead of a read on U.S. new home sales due out after the opening bell. Elsewhere, gold is nearly unchanged, while the U.S. dollar and crude oil … [Read more...]

U.S. Stocks Back on Track

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      After snapping their winning streak yesterday, the domestic equity markets are moving nicely higher in late-morning action, aided by some upbeat earnings reports and an unexpected improvement in eurozone business activity, led by a return to manufacturing growth for Germany. Dow members Caterpillar and 3M both topped analysts' earnings forecasts, along with Comcast and General Motors, more than offsetting profit misses from Dow component AT&T and Eli Lilly. Treasuries are trading lower on the gains for stocks, despite domestic reports showing a … [Read more...]

Stocks Modestly Tack Onto Recent Rally

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      The domestic equity markets are trading slightly to the upside in late-morning action, extending their recent rally, courtesy of upbeat earnings reports from Dow member Boeing, Yahoo, Dow Chemical and Broadcom. Meanwhile, a read on U.S. consumer prices showed inflation remained subdued, despite a modest unexpected increase in the headline figure. Treasuries are dipping despite the benign inflation data, which followed a jump in domestic weekly mortgage applications. Elsewhere, gold is lower and the U.S dollar is higher, while crude oil prices are mixed. Overseas, … [Read more...]

Earnings Helping Stocks Move Higher

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  The U.S. equity markets are extending yesterday's modest gains, ahead of a read on domestic existing home sales, while the Street is digesting upbeat earnings reports from Apple, and Dow members United Technologies and Travelers Companies. Meanwhile, European stocks are gaining ground on some favorable earnings reports in the region and speculation of European Central Bank bond purchases. However, other earnings from the Dow were mixed, with McDonald's missing analysts' same-store sales expectations, Coca-Cola posting softer-than-expected revenues, and Verizon Communications' … [Read more...]

Stocks Beginning the Week Mixed

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        The U.S. equity markets are mixed in early action, following Friday's solid rebound to cap off a volatile week, with earnings season ramping up, while the domestic economic docket is quiet today. Dow member IBM is finding solid pressure after the company posted much softer-than-expected 3Q results. Meanwhile, overseas, European stocks are broadly lower in the wake of a lowered full-year profit forecast from Germany's SAP, while Royal Philips missed analysts' quarterly expectations. Gold is trading higher, along with Treasuries, while the U.S. dollar is … [Read more...]

Stocks Pointing to an Early Rebound

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      The U.S. equity markets are moving nicely higher in early action as a report showing domestic housing starts topped expectations and a sharp rebound in Greece are helping provide some relief to global sentiment, which has been rattled as of late by a plethora of global uncertainty. Moreover, the U.S. earnings calendar is in focus, with Dow member General Electric slightly beating the Street's earnings expectations and Morgan Stanley besting analysts' quarterly projections, while Google missed with its bottomline results. Treasuries are moving lower on the rebound … [Read more...]

Stocks Overcome Early Pressure

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      The U.S. equity markets are trading modestly higher in afternoon action, with traders assessing the recent downside volatility that has come from exacerbated global growth concerns, resurfaced eurozone debt worries, elevated geopolitical tensions, and heightened Ebola fears. Meanwhile, comments to Bloomberg from St. Louis Fed President and non-FOMC voting member James Bullard suggesting the Central Bank should consider delaying the end of its asset purchases appeared to help stocks overcome their early sell-off. Elsewhere, U.S. jobless claims dropped and Dow member … [Read more...]

Global Rout Remains

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      Although off the worst levels of the day, U.S. and European stocks remain solidly lower, as already skittish global growth concerns were exacerbated by a plethora of softer-than-expected domestic data, and a rally in Treasuries is ensuing and the U.S. dollar is seeing pressure. Retail sales surprisingly declined, producer prices unexpectedly dipped, regional manufacturing activity decelerated much more than anticipated, and business inventories missed expectations. The data comes ahead of an afternoon look at business activity across the nation, courtesy of the … [Read more...]

Modest Resiliency Amid Festering Growth Worries

Rally Rolls On

    Coming off yesterday's solid declines that came amid festering global growth concerns, the domestic equity markets are moving higher in late-morning action, despite continued losses for energy stocks as oil prices remain under pressure. Stocks are showing some relative resiliency in the face of another string of disappointing eurozone economic data, which has fueled the global uneasiness and led the recent downside volatility for equities. Meanwhile, traders are digesting a plethora of U.S. earnings reports, with Citigroup and Dow member Johnson & Johnson both topping … [Read more...]