Yields for Italy, Spain, France, and Germany …
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U.S. equities have very little to complain about and as a result we have another tepid rally on our hands. Hopefully, we will not see a give back like yesterday.
Earnings, a clam put, and hope for Europe resolving their debt problems fuels the cautious rally.
Shoert have to cover as markets continue to drift higher into the heaviest shorted market in 5 years.
The S&P has poked its nose above 1400.
Europe has pared any losses seen during the trading session. Europe was able to ignore some recessionary data and the Standard Charter banking scandal.
Oil is up firmly in today’s session.
Comments »“U.S. stocks advanced, sending the Standard & Poor’s 500 Index higher for a third straight day, amid better-than-estimated corporate earnings and speculation global central banks will take steps to boost economic growth.”
Comments »Fears over Europe’s debt woes have subsided a bit as comments out of Italy suggest that interest rates may be lowered soon by the ECB. As a result global markets rose overnight.
Comments »U.S. equities rally hard on better than expected non farm payrolls erasing the week’s losses this morning.
The S&P and the DOW have touched new highs not seen for at least a month or two of trade. Let’s hope we stick a close above these new levels signifying a break out to the upside.
[youtube://http://www.youtube.com/watch?v=3GwjfUFyY6M 450 300] Comments »Rail traffic continues to expand;
“The latest data from the AAR showed another gain in intermodal traffic at 4.1%. This brings the 10 week moving average to 5.1%. Carloads paint a more mixed picture with a decline of 1.5%. Intermodal, historically, has been a better leading indicator of economy growth, however. I think it’s all consistent with a muddle through economy, but not one that’s currently contracting. The AAR has more details:”
Comments »Markets remain weak after no action out of the ECB. While they are working on reform for the debt crisis, markets see this as a possibility for trouble to emerge. U.S. equities pared half their losses by 10:30 am, but have since fallen back to the lows of the day.
Considering all that has happened in the last two days the markets should get a teflon grade A rating as we could have tanked hard. Wait for the close to see where we really end up.
The clam put has been pushed off for September. Markets are awaiting their fix.
[youtube://http://www.youtube.com/watch?v=N6uEMOeDZsA 450 300] Comments »