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 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 10, 2015


Indexes opened in the red (slightly) and then finished mix in a quite quiet day. The S&P 500 gained 0.15% while the NASDAQ fell 0.24%. While there were some minor economic reports today none of these typically move the market, and that was the case today. Earnings are slowing down and the Fed meeting is still a month off so we are in a bit of a quiet period here.

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Market Recap Nov 2, 2015


Following a strong October, indexes got off to a strong got off to a strong start in November as we saw a gap up in the morning on decent European economic news and steady buying all day. The S&P 500 gained 1.19% and the NASDAQ 1.45%. This has been a “rip your face off rally” much more like what we have seen much of the years since 2009. Economic news was not great as the key October ISM manufacturing reading was 50.1, slightly beating expectations of 50.0 but posting a fourth straight month of decline. Any reading below 50 would signal contraction. Construction spending rose 0.6% in September.

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Market Recap Oct 21, 2015


Indexes hung around the unchanged area most of the day until a bout of selling in the last hour. The S&P 500 fell 0.58% and the NASDAQ 0.84%. It was another day of earnings and frankly a lot of them did not sound that good. So the market was relatively resilient considering that. Wall Street also digested Japanese exports data, which came in far weaker than expected. Japan’s annual export growth slowed for the third straight month in September, raising questions as to whether or not the Bank of Japan will go further into its qualitative and quantitative easing program. (Japan’s market rallied on the news because bad news = good news because it means more central bank easing!) “Big picture, easy money is here to stay,” said Adam Sarhan, CEO of Sarhan Capital.

“We’ve had some pretty rocky earnings, and volatility has been pretty much contained,” said Peter Cardillo, chief market economist at Rockwell Global Capital. “With all these individual stock stories, the indexes are hanging in pretty nicely,” Art Hogan said.

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Market Recap Jul 22, 2015


All things considered, Wednesday could have been a much worse day considering the big drop in Apple (AAPL) and Microsoft (MSFT) – both larger components of many indexes. The S&P 500 only fell 0.24% while the NASDAQ fell 0.70%. Existing home sales rose 3.2% from the previous month in June, their highest levels in over eight years.

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Market Recap Jul 21, 2015


Indexes were generally in the red as IBM really weighed on the Dow (down 1%). The S&P 500 fell 0.43% and NASDAQ 0.21%. Earnings have returned the forefront as they will the next few weeks, with Apple (AAPL) dominating tonight. You can check out Blain’s real time reaction on to the Apple’s earnings – if you have small children turn down the volume. 😉 So we just had the biggest 1 day market cap gain with Google (GOOG) a few days ago ($65B) and today we have a $50B drop in Apple afterhours. Looks like tomorrow will be a real rough day on the NASDAQ as Apple is a massive component and Microsoft in a big one too.

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STTG Market Recap Apr 21, 2015


All major indexes opened up Tuesday but by end of session only the NASDAQ remained in the green as the biotech sector had some merger and acquisition activity in it. The S&P 500 fell 0.15% while the NASDAQ rose 0.39%. The earnings onslaught continued.

The NASDAQ has quickly recovered all of last Friday’s losses now.  The S&P 500 remains range bound.

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