Market Recap Nov 25, 2015


It has been a quieter holiday week than usual, even as most holiday weeks are by definition relatively quiet. Maybe this is due to the large jump last week but we haven’t seen the various pockets of momentum stocks hopping around as normally happens in holiday trading. Indexes began without any real premarket movement and finished just about where they began. The S&P 500 fell 0.01% while the NASDAQ added 0.26%.

Fun fact: The week of Thanksgiving is seasonally positive for stocks. Over the last 10 years, the S&P 500 was up for six of those holiday weeks and posted an average return of 1.9%.

In economic news, consumer spending increased just 0.1% in October compared with the 0.3% expected. Less bearish was durable goods which soundly topped expectations with a headline rise of 3.0% in October. The non-defense, ex-aircraft figure rose 1.3% after an upwardly revised 0.4% gain in September.

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Market Recap Nov 24, 2015


Tuesday began with indexes in the red as news of a Russian airline downed by Turkey hurt markets but as the day went by buyers came into the market and we saw a finish of 0.12% for the S&P 500 and 0.01% with the NASDAQ. In U.S. economic news, revised third-quarter GDP came in as expected, up 2.1% from the original reading of 1.5%.

When measured from the income side, the economy grew at a sturdy 3.1% clip, the fastest in a year and an acceleration from the second quarter’s upwardly 2.2% pace. Wages and salaries increased $109.3 billion, $61.6 billion more than initially estimated. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, grew at a still strong 3.0% rate in the third quarter, down from the 3.2% rate estimated last month. The downward revisions mostly reflected weak outlays on communication services and utilities.

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Market Recap Nov 23, 2015


After a big up week it is no surprise to walk into a quiet market Monday. We do have holiday trading later this week and that usually means light volume, and a lot of big movements in small time stocks as individual momentum traders usually have a field day or two. Often this week tends to skew up for whatever reason historically as well. As for Monday the S&P 500 fell 0.12% and NASDAQ 0.05% – nothing significant in terms of a pullback in light of the big rally last week. Existing home sales showed a decline of 3.4% in October.

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Market Recap Nov 20, 2015


After their worst week since August, markets followed with the best week of 2015 (for the S&P 500). This is some serious volatility. The S&P 500 gained 0.38% and the NASDAQ 0.62%. Ahead of the open, European Central Bank President Mario Draghi said the ECB stands ready to “do what (it) must to raise inflation as quickly as possible” if it decides current policy isn’t stimulating the sluggish euro zone economy.

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Market Recap Nov 19, 2015


A very zig zag type of day as the indexes vacillated around the unchanged line; in the end tiny losses on both the S&P 500 (-0.11%) and NASDAQ (-0.03%). News flow was slow as it was just a day of digestion after yesterday’s big move off the Fed minutes.

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