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May
13
Stocks ended the week with losses . The Dow was off 1.7% to 12,820, the S&P fell 1.2% to 1,352, and the NASDAQ decreased 0.76% to 2,934. The risk-off trade had many flocking to treasuries and the 10-year dropped to 1.84% from 2.05% the prior month. Our eyes are on next week’s meeting between Merkel and Hollande as this will set a tone for negotiations in the euro zone. Manufacturing surveys are also due out next week and retail sales on Tuesday will give us another view of the US consumer. Fed minutes come out on Wednesday and there is often speculation about QE3 or not.
The European elections, over the weekend, initially weighed heavily on the markets as constituents voted against austerity, but then by the end of the day, there was hardly a sign of the swoon. The …
May
13
With the jobs report coming out at the end of the week, Spain did weigh on the markets and there was excitement surrounding the Facebook IPO launch, but all of the focus remained on that employment figure. The April jobs number was disappointing on so many levels, but it is still just one more data point, in a long line of lackluster numbers for the US that have outlined this slow and arduous recovery. For the week, the Dow Jones fell 1.4% to 13,038, the S&P 500 dropped 2.4% to 1,369 and the NASDAQ Composite Index was off 3.7% to 2,956.
A decline in GDP from Spain weighed on Monday’s markets. Spain’s GDP decreased 0.3% in 1Q12 and recall that the unemployment rate is north of 20%. Lackluster US economic data was unable to buck …
Apr
29
US Corporate Earnings Outweigh European Unrest
April 29, 2012 | Leave a Comment
After a rough start, the major US indices managed to post impressive results for the week. The DJIA moved up 1.53% for the week to 13,228.31, the S&P 500 Index surged 1.80% to 1,403.36 and the NASDAQ jumped 2.29%.
Stocks struggled on Monday, following a rocky start to the week in Europe. Mark Rutte, Dutch Prime Minister, resigned after failing to win Parliament’s support for austerity measures. In France, political unrest was developing as French President Nicolas Sarkozy lost the first two rounds of voting to his socialist opponent, Francios Hollande.
Domestically, an article in The New York Times last weekend accused WalMart (WMT) of bribing local officials in Mexico to facilitate the opening of new stores in that country. Many of the instances in question occurred over 6 years ago and may be outside the …
Apr
21
Investors Encouraged By Earnings, Jittery About Europe
April 21, 2012 | Leave a Comment
The markets were up in the early part of the week, driven by a better-than-expected retail sales report, optimism on China, and positive corporate earnings reports. By mid week, eurozone concerns resurfaced and some disappointing US economic data was released, putting pressure on shares. However, despite the mid-week dip, the DJIA and the S&P managed to post gains for the week with the DJIA’s close on Friday at 13,029.26, up 179.67 (1.40%) for the week and the S&P 500 Index finished at 1,378.53, up 8.27 (0.60%). The NASDAQ struggled to stay positive, and finished the week down slightly to 3,000.45, off 10.88 (-0.36%), largely due to the pressure on Apple Inc. (AAPL).
On Monday, retail sales for March gained 0.8% month-month, ahead of the 0.3% increase expected. The largest categorical increase was in the building materials and gardening equipment sector, up …
