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Stocks Mixed Following Two-Day Jump

Dow Continues To Soar To Record Levels

Coming off a sharp two-day rally, the U.S. equity markets are mixed in afternoon action. The S&P 500 and Nasdaq are modestly extending their gains, while the Dow is being bogged down by a solid decline in Nike after its disappointing futures orders are overshadowing its stronger-than-expected quarterly results. Meanwhile, crude oil prices are rebounding to buoy energy stocks, while trading is choppy on quadruple witching day, the simultaneous expiration of option and futures contracts on stocks and indexes. Treasuries are mixed after being pressured by the recent rally in stocks, with the … [Read more...]

Stocks Remain Under Pressure as Oil Continues to Drop


The U.S. equity markets are lower in early action, with oil's persistent drop continuing to weigh on sentiment as the Street grapples with potential ripple effects outside of the energy sector. Moreover, volatility elevated as Russia boosted its benchmark interest rate by over 600 basis points to 17.0% in an attempt to stabilize the falling ruble but the action is failing to stem the currency's sell-off. Treasuries are trading noticeably higher on the heightened volatility, while a read on domestic housing construction missed expectations, ahead of a preliminary look at U.S. manufacturing … [Read more...]

Domestic Stocks Dragged Lower by Overseas Pressure


Although well off of the worst levels of the day, the domestic equity markets remain lower in afternoon action, heading for their second-straight session of losses. The weakness comes as Chinese stocks sold-off after regulators tightened lending requirements, while European stocks fell broadly following the drop in China and as Greek stocks tumbled amid political uncertainty. Meanwhile, the U.S. equity front is applying some pressure, as Dow member Verizon Communications issued a profit warning, Citigroup announced a $3.5 billion 4Q charge and H&R Block posted a wider-than-expected loss. … [Read more...]

Stocks Finding Energy to Rebound

Rally Rolls On

  The domestic equity markets are trading higher in afternoon action, rebounding from yesterday's declines on further stimulus hopes in China and the eurozone. Commodity-related issues, notably energy stocks, are getting a boost and also helped push European markets mostly higher. Moreover, a rally in shares of Biogen Idec on upbeat study results of its Alzheimer's treatment is aiding the healthcare sector. Elsewhere, Treasuries are trading solidly lower, while the lone report on the domestic economic calendar revealed stronger-than-expected construction spending. Meanwhile, gold and … [Read more...]

Stocks Decline Despite Domestic Manufacturing Data


      The U.S. equity markets remain lower in late-morning action despite a stronger-than-expected ISM Manufacturing Index, and a separate read on domestic manufacturing output that showed continued expansion. Commodity stocks are seeing pressure, courtesy of disappointing eurozone and Chinese manufacturing data and crude oil's recent sell-off to five-year lows. Moreover, sentiment is being hamstrung by a credit rating downgrade of Japan by Moody's Investors Service and as consumer discretionary stocks are seeing some pressure after the National Retail Federation … [Read more...]

Disappointing Domestic Data Dents Early Gains

Stocks Swing

      The U.S. equity markets have pared gains in early action, as disappointing reads on domestic durable goods orders, jobless claims and personal income and spending are knocking some of the luster off of yesterday's stronger-than-expected 3Q GDP report. Meanwhile, volume is likely to be lighter than usual with the U.S. markets set to be closed tomorrow and trade in an abbreviated session on Friday in observance of the Thanksgiving holiday. Treasuries are trading higher on the data, which will continue to pour in after the opening bell, with reads on housing sales, … [Read more...]

China and Eurozone Stimulus Hopes Boost Stocks


    The domestic equity markets are moving higher in late-morning action, with the Dow and S&P 500 notching more record highs. Global equities are getting a boost from surprising rate cuts in China, which were the first in more than two years. Moreover, European Central Bank President Mario Draghi suggested it may be nearing a full-fledged quantitative easing campaign to combat low inflation. Gold and crude oil prices are gaining ground, along with the U.S. dollar and Treasuries, with the domestic economic calendar light today as an upbeat read on regional manufacturing … [Read more...]

Stocks Retreat From Record Highs as Fed Report Looms


    After the Dow and S&P 500 notched more record highs yesterday, the domestic equity markets are trading lower in afternoon action, with the Street awaiting the release of the minutes from the Federal Reserve's October meeting. Meanwhile, a plethora of upbeat earnings reports from the retail sector are failing to boost stocks, with Target Corp beating the Street's quarterly forecasts, along with Lowe's Companies and Staples, while PetSmart topped analysts' profit forecasts and is getting a boost from buyout chatter. Treasuries are lower following the housing report, which … [Read more...]

Mixed Markets Amid Massive M&A Reports


    The U.S equity markets are mixed in afternoon action, with some large corporate deal news offsetting global growth concerns as an unexpected contraction in Japanese GDP growth for the second-consecutive quarter met the technical definition of a recession. Treasuries are trading lower despite the global growth concerns and as U.S. economic reports showed industrial production and capacity utilization both missed expectations and regional manufacturing growth accelerated by a slightly smaller amount than forecasted. In equity news, Dow member Pfizer agreed with Germany's Merck … [Read more...]

Stocks Slightly Higher in Light Holiday Volume

Dow Continues To Soar To Record Levels

    The domestic equity markets are trading modestly to the upside in early action, tacking onto yesterday's record highs for the Dow and S&P 500, though volume is lighter than usual amid the Veterans Day holiday, which has the U.S. bond markets closed. Meanwhile, domestic small business optimism improved slightly more than expected for October. In equity news, D.R. Horton missed the Street's earnings expectations, but offered an upbeat outlook, while Caesars Entertainment posted a much larger-than-expected loss. Gold is higher, while the U.S. dollar is flat and crude oil … [Read more...]