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Market Update

Who Wants to Bet the S&P Closes Above 15 Hundo?

Gentleman’s bet anyone?

“NEW YORK (AP) — A sudden drop in claims for unemployment benefits helped push the Standard & Poor’s 500 index above 1,500 for the first time since December 2007.

Apple’s stock sank 10 percent, pulling the Nasdaq composite index lower, after the electronics giant predicted slower sales.

The Labor Department reported that the number of Americans applying for unemployment aid fell last week to the lowest since January 2008. Applications dropped 5,000 to 330,000. The four-week average also hit a five-year low.

The Dow Jones industrial average was up 66 points at 13,846 as of 12:10 p.m. EST.

The Standard & Poor’s 500 index edged up 5 points to 1,500. The S&P 500 last closed above 1,500 on Dec. 10, 2007. It’s already up 5.1 percent this year and has risen over the previous six days.

One reason for the market’s recent rise is that some of the biggest obstacles have been pushed aside, said Brian Gendreau, a market strategist at Cetera Financial Group. On Wednesday, the House of Representatives agreed to suspend the federal government’s borrowing limit until May 19, allowing the U.S. to keep paying its bills for another four months.

“Politics is off the table for now and Europe seems like it’s stable. So what’s left? It’s earnings. And aside from Apple it seems like pretty good news,” Gendreau said.

The Nasdaq fell five points to 3,148. A 10 percent drop in Apple, the country’s most valuablecompany, was enough to pull the technology-heavy index lower. Apple is the largest company of the Nasdaq, making up 10 percent of the index….”

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Market Update

U.S. equities have pared half their gains after being up as much as 80 and change on the DOW.

The NASDAQ is being dragged down by $AAPL which is down roughly 12% today.

Retailers have sprung back today after the sector took a drudging yesterday due to poor earnings out of $COH.

Transports are currently fighting with retailers in leading the market higher.

Oil inventories came in slightly below expectations, but a build in supplies none the less. WTI is currently up $0.89.

Gold is getting hammered for $19 sticks with other metals are weak as well.

Given good jobless claims and PMI data i would be surprised if we did not close at the highs or more of the day.

Finally the Yen and the Euro are trading higher against the dollar.


Market update 

3D heat map

[youtube://http://www.youtube.com/watch?v=LerOXe4R2lM 450 300]

Link for iPhone users: http://www.youtube.com/watch?v=LerOXe4R2lM


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European Markets Little Changed Despite a Beat in Manufacturing and Service Area Data

European stocks were little changed, near a two-week high, as a measure of manufacturing and services in the euro area rose more than expected, offsetting Apple Inc. (AAPL)’s slowest profit growth since 2003. U.S. index futures and Asian shares declined.

EasyJet Plc (EZJ) added 4.1 percent after saying fiscal first- quarter sales gained. Logitech International SA slumped 7.5 percent after reporting a third-quarter loss of $195 million. Banca Monte dei Paschi di Siena SpA plunged 6.1 percent after the Bank of Italy said that the world’s oldest lender hid documents from its regulators.

The Stoxx Europe 600 Index (SXXP) retreated 0.1 percent to 287.99 at 11:15 a.m. in London, after earlier sliding as much as 0.4 percent. The equity benchmark has climbed 3 percent this year after U.S. lawmakers agreed on a compromise budget. Standard & Poor’s 500 Index futures dropped 0.2 percent today, while the MSCI Asia Pacific Index fell 0.3 percent.

“It’s back to reality in a way: mixed news on the macroeconomic front, plus Apple, is impacting the equity markets today,” said Francois Savary, who oversees about $8.1 billion as the chief investment officer at Reyl & Cie. in Geneva. “The market wants to see that companies can increase sales and earnings-per-share down the road, and this is the key to sustain the rally.”

The volume of shares changing hands in Stoxx 600 companies today was 30 percent greater than the average of the last 30 days, according to data compiled by Bloomberg.

Composite PMI…”

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The Bulls Grab Another Round of 5 Year New Highs

As has been the case for the last 2 months the markets started off slightly negative and finished with upside according to the new law of central bank physics.

Today the S&P was the only board that was skittish and concurrently finished up the weakest.

Gold and oil performed poorly today while technology did well when looking at specific names like $IBM & $GOOG.

Retailers took it on the chin thanks to poor earnings out of $COH.

The markets were led by technology followed by service companies. Despite positive markets transportation, healthcare, and capital goods were largely flat on the day while conglomerates, consumer cyclicals, energy, and financials were down.

This happens to be the tenth longest rally without a correction so it’s no wonder we are experiencing a slow grind higher based on relatively okay earnings and the powers of the bearded clam.

DOW up 65

NASDAQ up 10

S&P up 2

Russell 2000 down 2

Gold down $7

WTI down $1.07

Brent up $0.60

[youtube://http://www.youtube.com/watch?v=fRA_AQ-Azo4 450 300]

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Options Chains are Suggesting a 7% Move in $AAPL After Earnings Release


“NEW YORK/CHICAGO (Reuters) – The options market is bracing for a big move in Apple shares after it posts earnings on Wednesday amid what has been a dramatic plunge for the world’s most valuable publicly traded company.

Apple Inc shares were trading at $512 on Tuesday, down sharply from $702.10 in September, on worries that its mobile devices are no longer as popular.

Based on options activity just hours before the announcement, due after the market close, traders were estimating about a 7 percent one-day move after the earnings, which would be a much more volatile outcome than normal for Apple. Such a move could push the shares as low as $465 or as high as $535, depending on how earnings come out.

“Three ingredients make this earnings for Apple especially appetizing for options traders: (CEO) Tim Cook has missed earnings estimates 60 percent of the time over the past five quarters, the stock has crashed almost 30 percent since September, and no stock has as many hedge funds owning it,” said Gareth Feighery, a founder of options education firm Markettamer.com in Philadelphia.

“Combine those three factors together and Apple is a fireworks display ready to ignite, which makes it no surprise to see its options building in a move of close to 7 percent post-earnings.”

In the previous eight quarters, the average one-day earnings move has been 3.9 percent, according to RiskReversal.com, an options research firm based in New York.

As competition intensifies from Samsung Electronics Co Ltd and others using Google Inc’s Android software, investors are wondering if Apple’s days of hyper growth are over.

Despite the sharp decline in recent months that cost Apple nearly $190 billion in market capitalization – about equal to the entire value of AT&T – plenty of Apple bulls remain on Wall Street, with about four-fifths of the nearly 60 analysts covering the company rating it “buy” or “strong buy,” according to Thomson Reuters data…”

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The Bulls Grind Out a Small Rally

Lackluster housing data and not so exciting earnings had U.S. equities going into the red this morning. By lunch the markets began to pare losses and into the closing bell the bulls managed to eek out a small rally.

DOW up 62


S&P up 6

Gold up $3.6

WTI up $0.68

[youtube://http:///w.youtube.com/watch?v=HNY8eYmzdH4 450 300]


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The Bulls Dance and Spit on the Graves of the Bears

U.S. equities had support from good economic data, (initial claims and housing tarts,) the announcement that the Bank of Japan will embark on QE infinity, and that the GOP is considering a proposal to raise the debt ceiling. All in all we did not close at the highs of the day, but the bulls can claim victory.

New highs were made in the trannies, mid cap sector, S&P 500, and the small cap sector.

The markets were led higher by consumer cyclicals, capital goods, conglomerates, and healthcare.

All the bears can cling too is the low volume…which is troublesome, but not until panic occurs. For now we can grind higher.

A word of advice: HEDGE YOURSELF AS WE ARE APPROACHING UNSTABLE FROTH TERRITORY. IT MAY LAST IN A BACK AND FORTH MOTION FOR A FEW MONTHS, BUT IT WILL END ! Tomorrow’s documentary will show clearly why we are in some serious trouble.

DOW up 88

NASDAQ up 18

S&P up 8.6

Gold up $3.6

WTI up $1.05

[youtube://http://www.youtube.com/watch?v=0HYiaYyfp8Q 450 300]

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Market Update

New highs everywhere you look….

Gold doing a cup and handle bull wedge.

WTI hitting 4 month highs.

The world is saved from the boogeyman.


Market Update

[youtube://http://www.youtube.com/watch?v=c6IZecaMttM 450 300]


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Market Update

U.S. equities opened lower on currency comments out of Japan and Europe. In addition to this we have had a lowering of growth estimates by the World Bank and the IMF.

The DOW has pared half its losses, all losses left to $BA for the moment, while the S&P has just ticked positive and the NASDAQ is positive due to upside in $AAPL.

WTI went from flat to up a buck on a surprise draw of crude supplies. Gold is currently trading down $4.4 paring half of its losses. Platinum continues to blast off on supply constraints out of Africa.

Europe has paired its losses to go positive with the exception of Russia and the U.K.

The president is getting ready to announce draconian executive orders on gun control following the great debacle that has fallen NY state with Cuomo’s sweeping legislation.

Market update

3 D heat map


[youtube://http://www.youtube.com/watch?v=X2W3aG8uizA 450 300]

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