Stock Market News: 11-27-21

Market Indexes: All 4 indexes retreated this week, with Friday seeing a big selloff, as news of another virus variant rattled investors. The DOW had its worst day the year and its third worst Black Friday selloff ever on Friday.

Volatility: The VIX rose 60% this week, ending the week at $28.62.

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Market Breadth: 5 DJIA stocks rose this week, vs. 24 last week. 17% of the S&P 500 rose, vs. 35% last week.

FOREX: The US $ gained vs. the Pound, the Loonie, and the Aussie & NZ $ this week, and fell vs. the Yen, Swiss Franc, and the Euro.

“The dollar hit fresh 16-month highs against the euro on Wednesday as investors priced for the prospect that the Federal Reserve will begin hiking rates in mid-2022 while the European Central Bank is expected to remain more dovish as growth in the region lags.” (Reuters)

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Economic News: “Initial Unemployment Claims fell last week to their lowest point since 1969, the Labor Department reported Wednesday. New filings for state benefits totaled 199,000 on a seasonally adjusted basis, a decline of 71,000 from the previous week.
The drop marks a milestone in the economy’s recovery from the pandemic. Weekly claims peaked at more than 6 million in April 2020, as the coronavirus forced businesses and consumers alike to shut down. As recently as early January, amid a winter resurgence of the coronavirus, new state claims exceeded 900,000 in one week. Filing for unemployment benefits has come down sharply since then, but remained well above pre-pandemic levels until very recently.
Despite a summer lull, the economy has been showing signs of life lately.Employers added 531,000 jobs in October, and most economists expect growth to pick up in the final quarter of the year, boosted by healthy consumer spending.
“Today’s data reinforce the historic economic progress we are making and the importance of building on that progress in the weeks ahead,” President Biden said in a statement about the unemployment claims report.
As one measure of progress, Mr. Biden pointed to the most recent tally of unemployment benefits of all sorts, from early November, which showed the number of people with continuing claims — those filing for benefits who have already filed an initial claim — at 2.4 million. The figure right before Thanksgiving last year was more than 20 million.” (NY TImes)
“In an attempt to reduce global energy prices, the White House will release 50 million barrels of crude oil along with Britain, China, India, Japan and South Korea. The Department of Energy’s release of the reserves, which is set to be detailed in remarks by Mr. Biden on Tuesday afternoon, is meant to address fluctuations in supply and demand for oil, administration officials said.

The price of oil has fallen since late October partly in anticipation that countries would take action to try to tame energy costs. The U.S. benchmark, West Texas Intermediate, immediately jumped after the administration’s announcement but then slipped to 0.4 percent lower for the day. So far this month, the price had dropped 4.75 percent.
Demand for oil fell precipitously in the early months of the pandemic, so oil-producing nations cut output. In the United States, reduced demand led to a substantial decline in drilling; the country’s oil rig count was down nearly 70 percent in summer 2020.
A coordinated release would probably be considered a challenge by members of OPEC Plus, and could prompt a response next week when the group holds its next monthly meeting.
In recent monthly meetings, the OPEC group has stuck with plans to increase production by a relatively modest 400,000 barrels a day each month. Asked about a potential response from OPEC Plus, U.S. officials said on Tuesday that the administration had worked for weeks to rally other oil-producing countries to agree to tap into their stockpiles to ensure a parallel release, which was a preference of Mr. Biden’s.
The average price of a gallon of regular gasoline in the US had risen to $3.40 on Tuesday from $2.11 a year ago, according to AAA, the travel services organization. But gas prices have started to level off in the past week.” (NY Times)


(MarketWatch)

Week Ahead Highlights:
The heavily-watched Non-Farm Payrolls report for Navember will be released next Friday am.Economists are forecasting 581,000 jobs to have been added in November.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Energy led this week, the only sector having positive gains, despite the Friday selloff, with Consumer Discretionary lagging again.

Futures: WTI Crude fell -10% this week, ending at $68.17.
“Oil fell sharply as a new coronavirus strain raised concerns about the outlook for demand and sent global markets spiraling. The emergence of the new strain represents the biggest threat to the recovery in oil consumption for several months, with several governments tightening restrictions on travel from countries in southern Africa. Global markets sold off heavily, as traders fled to haven assets.
The price plunge is the latest dramatic twist ahead of a key OPEC+ meeting next week. While the gathering was already set to be keenly watched, after an alliance of consumers announced the release of emergency supply earlier this week, the potential severity of the new coronavirus variant is the latest factor that the group will have to tackle when deciding whether to lift output.” (Bloomberg)

Stock Market News: 11-13-21

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Market Indexes: All 4 indexes retreated this week, ending a 5-week streak of weekly advances, as inflation fears, Fed tapering, and lower consumer sentiment gave investors pause.

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Volatility: The VIX fell -1% this week, ending the week at $16.29.

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Market Breadth: 11 DJIA stocks rose this week, vs. 11 last week. 52% of the S&P 500 rose, vs. 62% last week.

FOREX: The US $ gained vs. most other major currencies again this week.

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Economic News: “The producer price index for final demand rose 0.6% last month after climbing 0.5% in September, the Labor Department said on Tuesday. That reversed the slowing trend in the monthly PPI since spring. In the 12 months through October, the PPI increased 8.6% after a similar gain in September. More than 60% of the increase in the PPI last month was due to a 1.2% rise in the prices of goods, which followed a 1.3% jump in September. A 6.7% surge in gasoline prices accounted for a third of the rise in goods prices. There were increases in the prices of diesel, gas and jet fuel as well as plastic resins.
Wholesale food prices dipped 0.1% as the cost of beef and veal tumbled 10.3%. Prices for light motor trucks fell as the government introduced new-model-year passenger cars and light motor trucks into the PPI.Exorbitant motor vehicle prices have accounted for much of the surge in inflation as a global semiconductor shortage linked to the nearly two-year long COVID-19 pandemic has forced manufactures to cut production, leaving virtually no inventory. ” (Reuters)

“U.S. consumer prices accelerated in October as Americans paid more for gasoline and food, leading to the biggest annual gain in 31 years, more signs that inflation could stay uncomfortably high well into 2022 amid snarled global supply chains. Inflation pressures are also brewing in the labor market, where an acute shortage of workers is driving wages higher.
The number of Americans filing claims for unemployment benefits fell to a 20-month low last week. The consumer price index jumped 0.9% last month after climbing 0.4% in September, the Labor Department said. The largest gain in four months hoisted the annual increase in the CPI to 6.2%. That was the biggest year-on-year rise since November 1990 and followed a 5.4% advance in September.
Food prices advanced 0.9%, mostly driven by meat, eggs, fish, vegetables, cereals and bakery products. It also cost more to eat away from home. But prices for alcoholic beverages fell. Excluding the volatile food and energy components, the CPI gained 0.6% last month after climbing 0.2% in September.
The so-called core CPI was boosted by rents, with owners’ equivalent rent of primary residence, which is what a homeowner would receive from renting a home, rising a solid 0.4%.The cost of hotel and motel accommodation rose 1.5%.
Prices for used cars and trucks rebounded 2.5% after declining for two straight months. New motor vehicle prices increased 1.4%, marking the seventh consecutive month of gains. A global semiconductor shortage has undercut motor vehicle production.Healthcare costs increased 0.5%, the largest gain in 17 months.
Consumers also paid more for household furnishings, recreation and grooming. The costs of motor vehicle insurance and apparel were unchanged. Air fares fell 0.7%.The so-called core CPI jumped 4.6% on a year-on-year basis, the largest increase since August 1991, after being steady at 4.0% for two straight months.” (Reuters)

“The University of Michigan’s Consumer Sentiment Index dropped to 66.8 in its preliminary November reading, the lowest level since November 2011, from October’s final reading of 71.7.” (Reuters)


(MarketWatch)

Week Ahead Highlights:
There will be several Housing-related reports due out next week, including the Homebuilders Index, Building Permits, and Housing Starts. Walmart, Target, Home Depot, and Macy’s Inc are among the high profile retailers expected to report next week.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Basic Materials led this week, with Consumer Discretionary lagging.

Futures: WTI Crude fell -0.5% this week, ending at $80.69.

Stock Market News: 11-6-21

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Market Indexes: All 4 indexes advanced again this week, with the Russell small caps leading with a 6% surge, followed by the NASDAQ, which was up 3%.
“Wall Street’s main indexes scored record closing highs on Friday and booked solid gains for the week following a strong U.S. jobs report and positive data for Pfizer’s experimental pill against COVID-19.
The S&P 500 and the Nasdaq notched record high closes for their seventh straight sessions, while the Dow Jones Industrial Average also closed at a record. All 3 indexes posted weekly gains for their fifth straight weeks.” (Reuters)

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Volatility: The VIX rose 1.4% this week, ending the week at $16.48.

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Market Breadth: 21 DJIA stocks rose this week, vs. 17 last week. 62% of the S&P 500 rose, vs. 53% last week.

FOREX: The US $ gained vs. most other major currencies this week, except the Yen, the Swiss Franc, and the Euro.

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Economic News: “The Federal Reserve on Wednesday said it will begin trimming its monthly bond purchases in November with plans to end them in 2022, but held to its belief that high inflation would prove “transitory” and likely not require a fast rise in interest rates.
However, the U.S. central bank nodded to global supply difficulties as adding to inflation risks, saying that those factors “are expected to be transitory,” but would need to ease to deliver the anticipated drop in inflation. “As the pandemic subsides, supply-chain bottlenecks will abate and job growth will move back up,” Fed Chair Jerome Powell said in a news conference after the release of the central bank’s latest policy statement. “And as that happens, inflation will decline from today’s elevated levels. Of course, the timing of that is highly uncertain.”

Yet even in announcing a $15 billion monthly cut to its $120 billion in monthly purchases of Treasuries and mortgage-backed securities (MBS), the Fed did little to signal when it may begin the next phase of policy “normalization” by raising interest rates.

“Economic activity and employment have continued to strengthen,” the policy-setting Federal Open Market Committee said in the statement, but did not change its intent to leave its benchmark overnight interest rate near zero until inflation had hit 2% and was “on track to moderately exceed 2% for some time.” (Reuters)

“The American economy added 531,000 jobs in October, a sharp rebound from the prior month and a sign that employers are feeling more optimistic as the latest coronavirus surge eases. The October gain was an improvement from the 312,000 positions added in September — a number that was revised upward on Friday. The labor force participation rate — the share of the working-age population employed or looking for a job — was flat in October, while the prime age (25 to 54) rate improved slightly to 81.7%.  The unemployment rate fell to 4.6% from 4.8% in September.” (NY Times)

“The Institute for Supply Management said on Wednesday its non-manufacturing activity index vaulted to a reading of 66.7 last month. That was the highest since the series started in 1997 and followed a 61.9 reading in September. A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of U.S. economic activity. The survey’s measure of new orders received by services businesses soared to a record 69.7 last month from 63.5 in September. Spending is shifting from goods to services, thanks to vaccinations against the coronavirus.
Part of the better-than-expected services sector index reading reflected longer delivery times. The survey’s measure of supplier deliveries accelerated to a reading of 75.6 from 68.8 in September. A reading above 50 indicates slower deliveries.” (Reuters)

“Better-than-expected third-quarter earnings have helped lift sentiment for equities. With about 360 companies having reported, S&P 500 earnings are expected to have climbed 40.4% in the third quarter from a year earlier.” (Reuters)


(MarketWatch)

Week Ahead Highlights: There will be several inflation-related reports due out next week, including the PPI, anf the CPI, in addition to the Consumer Sentiment index.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Consumer Discretionary led again this week, with Healthcare and Financials lagging.

Futures: WTI Crude fell -2.44% this week, ending at $81.39.

Stock Market News: 10-30-21

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Market Indexes: All 4 indexes advanced this week, with the NASDAQ leading, and the S&P hitting new highs. October was a big month for market gains, with the NASDAQ up over 7% and the S&P up nearly 7%; the DOW gained 5.8%, and the Russell small caps rose 4.25% in October. It was the market’s best month since November 2020.

“Apple Inc. delivered a rare revenue miss Thursday as the smartphone giant grew iPhone sales and revenue more slowly than anticipated. “Demand was very robust,” Chief Executive Tim Cook said on Thursday’s earnings call, but he estimated that supply constraints had a $6 billion negative impact on revenue. Cook cited “industry-wide silicon shortages and COVID-related manufacturing disruptions.” reported fiscal fourth-quarter net income of $20.6 billion, or $1.24 a share, up from $12.7 billion, or 73 cents/share, in the year-earlier period.” (MarketWatch)

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Volatility: The VIX rose 5% this week, ending the week at $16.26.

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Market Breadth: 17 DJIA stocks rose this week, vs. 22 last week. 53% of the S&P 500 rose, vs. 78% last week.

FOREX: The US $ fell vs. most other major currencies in October.

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Economic News: “The U.S. economy grew at its slowest pace in more than a year in the third quarter as a resurgence in COVID-19 cases further stretched global supply chains, leading to shortages of goods like automobiles that slammed the brakes on consumer spending. Gross domestic product increased at a 2.0% annualized rate last quarter, the government said in its advance GDP estimate. That was the slowest since the second quarter of 2020, when the economy suffered a historic contraction in the wake of stringent mandatory measures to contain the first wave of coronavirus cases. The economy grew at a 6.7% rate in the second quarter.
The meager growth came mostly from a moderate pace of inventory drawdown. Business inventories decreased at a $77.7 billion pace compared to a $168.5 billion rate in the second quarter. As result, inventories contributed 2.07 percentage points to third-quarter GDP growth. Inventory accumulation remains weak owing to shortages, especially of motor vehicles. Motor vehicle production fell at a 41.6% rate after declining at a 14.1% pace in the second quarter because of a global shortage of semiconductors.” (Reuters)

“The consumer confidence index increased to a reading of 113.8 this month from 109.8 in September, ending three straight monthly declines. The measure, which places more emphasis on the labor market, remains below its peak of 128.9 in June. The rise contrasted with the University of Michigan’s survey of consumers, which showed sentiment falling early this month.
The rebound in confidence coincided with an ebb in coronavirus infections. Consumers were upbeat about both current conditions and the short-term outlook. Despite perceptions of high inflation, consumers planned to step up spending. Buying intentions for motor vehicles rebounded from a nine-month low. More consumers intended to purchase household appliances like washing machines, television sets and refrigerators over the next six months. Consumer spending this quarter is also likely to be boosted by increased demand for travel. The percentage of consumers saying they plan to take a vacation in the next six months increased to 47.6%. That was the highest figure since the pandemic started and was up from 42.3% in September.” (Reuters)

“Sales of new U.S. single-family homes surged to a six-month high in September, but higher house price are making homeownership less affordable for some first-time buyers. New home sales jumped 14.0% to a seasonally adjusted annual rate of 800,000 units last month, the highest level since March, the Commerce Department said on Tuesday. August’s sales pace was revised down to 702,000 units from the previously reported 740,000 units. Sales increased in the populous South, as well as in the West and Northeast. They, however, fell in the Midwest.” (Reuters)

“The U.S. 2-year Treasury yield rose to a 19-month high on Wednesday, occasioning the sharpest flattening of one yield curve yardstick since the pandemic started amid heightened anticipation of a Federal Reserve interest rate rise next year. U.S. 10-year yields dropped to a two-week low of 1.52% and were last at 1.5378%. The widely watched spread between the 2- and 10-year yields fell to 103.7 basis points, from 116.4, the biggest point contraction since March 27, 2020, and the flattest since late August.
In the run-up to the Fed’s policy meeting next week, market focus has moved beyond pricing the central bank’s likely taper of asset purchases and onto the timing of the first rate rise since December 2018.” (Reuters)


(MarketWatch)

Week Ahead Highlights: The market will be focused on the Fed’s meeting for hints on rate hike and taper timing. The October Non-Farm Payrolls report is due out on Friday, and the Q3 ’21 earnings season continues.
“Fed policymakers are also expected to announce plans to begin tapering the central bank’s $120 billion in monthly purchases of Treasuries and mortgage-backed securities at the end of their two-day meeting next week.” (Reuters)

Next Week’s US Economic Reports:


(MarketWatch)

Sectors: Consumer Discretionary led this week, with Financials lagging. Consumer Discretionary and Energy led in October, with Communications Services lagging.

Futures: WTI Crude rose 11.13% in October, ending at $83.27.

Stock Market News: 10-23-21

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Market Indexes: It was another positive week, with all 4 indexes advancing at least 1%, led by the S&P, which rose 1.64%. Thus far, October has been a big month for market gains. The Dow set a record closing high on Friday, taking out a previous record close from August 16th.
“Analysts increased their expectations for S&P 500 earnings growth for the third quarter, forecasting an increase of 34.8% year-on-year, up from an expected 31.9% rise at the beginning of the week, according to data from Refinitiv.Data showed U.S. business activity accelerated in October, as COVID-19 infections subsided, though labor and raw material shortages held back manufacturing.” (Reuters)

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Volatility: The VIX fell 4.5% this week, ending the week at $15.43.

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Market Breadth: 22 DJIA stocks rose this week, vs. 22 last week. 78% of the S&P 500 rose, vs. 75% last week.

FOREX: The US $ fell vs. most other major currencies again this week.

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Economic News: “China’s economy increased by 4.9 percent in the third quarter, compared to the same period last year; the period was markedly slower than the 7.9 percent increase the country notched in the previous quarter. Industrial output, the mainstay of China’s growth, faltered badly, especially in September, posting its worst performance since the early days of the pandemic.
Two bright spots prevented the economy from stalling. Exports remained strong. And families, particularly prosperous ones, resumed spending money on restaurant meals and other services in September, as China succeeded once again in quelling small outbreaks of the coronavirus. Retail sales were up 4.4 percent in September from a year ago.
Chinese officials are showing signs of concern, although they have refrained so far from unleashing a big economic stimulus. Now, real estate — in particular, the debt that developers and home buyers amassed — is a major threat to growth. The country’s biggest developer, China Evergrande Group, faces a serious cash shortage that is already rippling through the economy.
Construction has ground to a halt at some of the company’s 800 projects as suppliers wait to be paid. Several smaller developers have had to scramble to meet bond payments. This could create a vicious cycle for the housing market. The worry is that developers may dump large numbers of unsold apartments on the market, keeping home buyers away as they watch to see how far prices may fall.” (NY TImes}

“U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labor, strengthening expectations that economic growth slowed sharply in the third quarter.
The report from the Commerce Department on Tuesday also showed housing completions hitting a 13-month low. It followed on the heels of news on Monday that production at U.S. factories fell by the most in seven months in September. Strong demand as global economies emerge from the COVID-19 pandemic is running against worker shortages, straining supply chains.
Housing starts dropped 1.6% to a seasonally adjusted annual rate of 1.555 million units last month, the lowest level since April. Data for August was revised down to a rate of 1.580 million units from the previously reported 1.615 million units. Lumber prices are rising again after tumbling from record highs set in May. Building materials, like windows and electric breaker boxes, are in short supply. The pandemic has upended labor market dynamics.
Starts have declined from the 1.725 million unit-pace level scaled in March, which was more than a 14-1/2-year high.
Single-family starts, which account for the largest share of the housing market, were unchanged at a rate of 1.080 million units last month. Single-family starts fell in the Northeast and the densely populated South, but rose in the West and Midwest. Starts for buildings with five units or more dropped 5.1% to a rate of 467,000 units last month.
Permits for future homebuilding plunged 7.7% to a rate of 1.589 million units in September. Single-family permits fell 0.9% to a rate of 1.041 million units. Permits for buildings with five units or more plummeted 21.0% to a rate of 498,000 units.

Housing completions dropped 4.6% to a rate of 1.240 million units last month. Single-family home completions were unchanged at a rate of 953,000 units. The inventory of previously owned homes is near record lows, leading to record double-digit annual growth in home prices. Realtors estimate that single-family housing starts and completion rates need to be in a range of 1.5 million to 1.6 million units per month to close the inventory gap. ” (Reuters)


(MarketWatch)

Week Ahead Highlights: Q3 ’21 earnings season heats up, with 10 DKIA stocks reporting, including AAPL and MSFT. 32% of the S&P 500 will report, including AMZN, XOM, CMCSA, and KO.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Real Estate and Healthcare led this week, with Communications Services lagging once again.

Futures: WTI Crude rose 2.33%, ending at $83.97, yet another 7-year high, its highest close since 2014.

Stock Market News: 10-16-21

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Market Indexes: It was another up week, with good earnings from major banks, and ongoing stronger energy prices supporting the market. The DOW had its biggest rise since June, and the S&P had its biggest rise since July.

“Wall Street’s main indexes rallied on Thursday, boosted by technology stocks and strong quarterly results from Bank of America and Walgreens, while better-than-expected economic data eased some concerns about higher inflation. Citigroup, Bank of America, and Morgan Stanley topped quarterly earnings estimates, helped by release of more reserves to cover loan losses, with torrid dealmaking, equity financing and trading activity adding to their profits.
Analysts expect corporate America to report strong quarterly profit growth and will focus on commentary from companies on how they are going to battle rising costs, labor shortages and supply chain disruptions. Meanwhile, data showed the number of Americans filing new claims for unemployment benefits fell close to a 19-month low last week, while a separate report showed producer prices eased in September.” (Reuters)

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Volatility: The VIX fell 8.6% this week, ending the week at $16.15.

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Market Breadth: 22 DJIA stocks rose this week, vs. 25 last week. 75% of the S&P 500 rose, vs. 82% last week.

FOREX: The US $ fell vs. other major currencies this week, except the Yen.

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Economic News: “Analysts predict that earnings for companies in the S&P 500 rose nearly 28 percent in the third quarter, compared with a year ago, which would be the third-highest increase since 2010. But that’s not necessarily a positive sign for the overall economy.
The sectors showing the biggest jumps in earnings are the few that benefit the most from inflation. Companies in the energy and materials sectors — like Exxon and Dow — are expected to report huge jumps in profits for the third quarter. By contrast, companies that are reluctant to pass higher costs onto consumers, like Amazon and General Motors, are expected to have a disappointing quarter. Banks are in the middle, with trading businesses expected to fall short of last year’s windfall but consumer divisions picking up as the economy reopens.
On the most recent earnings calls at S&P 500 companies, some 70 percent warned that supply chain issues would be a negative factor for sales and profits.” (NY TIMES)

“U.S. House of Representatives gave final approval on Tuesday to a Senate-passed bill temporarily raising the government’s borrowing limit to $28.9 trillion, putting off the risk of default at least until early December. Democrats, who narrowly control the House, maintained party discipline to pass the hard-fought, $480 billion debt limit increase by 219-206. The vote was along party lines, with every yes from Democrats and every no from Republicans. Republicans insist Democrats should take responsibility for raising the debt limit because they want to spend trillions of dollars to expand social programs and tackle climate change. Democrats say the increased borrowing authority is needed largely to cover the cost of tax cuts and spending programs during former Republican President Donald Trump’s administration, which House Republicans supported.” (Reuters)

“Consumer prices jumped more than expected last month, data released on Wednesday showed, raising the stakes for the White House and Federal Reserve as they continue to wager that rapid inflation will cool as the economy returns to normal.
The Consumer Price Index climbed 5.4 percent in September when compared with the prior year, more than expected in a Bloomberg survey of economists and faster than its 5.3 percent increase through August. From August to September, the index rose 0.4 percent, also above expectations. The September gains came as food — especially meat and eggs — cost consumers more. Housing prices also accelerated, something that raised alarm bells among many economists. Shelter is an important part of overall inflation and upward pressure in that index tends to last for some time.” (Reuters)


(MarketWatch)

Week Ahead Highlights: Q3 ’21 earnings season ramps up, with 7 DJIA stocks reporting, including JNJ, PG, VZ, and AXP. Housing, Mfg. and Industrial reports are due out next week.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Basic Materials led this week, with Communications Services lagging again.

Futures: WTI Crude rose 4.17%, ending at $82.66, another 7-year high, its highest close since 2014.

Stock Market News: 10-09-21

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Market Indexes: It was an up week, supported by a debt ceiling deal, and surging Energy prices, as oil and natural gas both hit 7-year highs.
“Stocks rebounded this week after Monday’s losses left the S&P 500 down 5.2% from its record high hit in September. A truce in the U.S. Congress to avoid a debt default provided some relief, but investors remain worried about inflation, higher U.S. Treasury yields and the Federal Reserve’s plan to unwind its easy money policies.” (Reuters)

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Volatility: The VIX fell 11% this week, ending the week at $18.77.

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Market Breadth: 25 out of 30 DOW stocks rose this week, vs. 8 last week. 82% of the S&P 500 rose, vs. 30% last week.

FOREX: The US $ fell vs. other major currencies this week, except the Aussie $, the Euro, and the Yen.

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Economic News: “The U.S. economy created the fewest jobs in nine months in September amid a drop in hiring at schools and worker shortages, but ebbing COVID-19 cases and the end of generous unemployment benefits could boost employment gains in the months ahead. The unemployment rate of 4.8% was down four-tenths of percentage point, while average hourly earnings increased 0.6%.
Non-farm payrolls increased by 194,000 jobs last month. Data for August was revised to show 366,000 jobs created instead of the previously reported 235,000 positions. Employment is 5.0 million jobs below its peak in February 2020. Employment gains were restrained by a 161,000 decline in state and local government payrolls. Private education jobs fell by 19,000. Most back-to-school hiring typically occurs in September, but recruitment last month was lower than usual, resulting in a decline after stripping seasonal fluctuations from the data.
Pandemic-related staffing fluctuations in public and private education have distorted the normal seasonal patterns, making it difficult to interpret the data, the government said. Overall, government payrolls fell by 123,000 jobs last month. That was offset by a 317,000 increase in private payrolls.
Employment in leisure and hospitality rose by 74,000 in September, but hiring at restaurants and bars little changed for the second straight month. Professional and business services payrolls rose by 60,000 jobs. Retailers hired 56,000 workers, while manufacturing added 26,000 jobs.
Economists polled by Reuters had forecast payrolls increasing by 500,000 jobs with estimates ranging from as high as 700,000 jobs to as low as 250,000. The unemployment rate of 4.8% was down four-tenths of percentage point, while average hourly earnings increased 0.6%.
“U.S. Senate leaders agreed to raise the Treasury Department’s borrowing authority until early December, averting a potential debt default later this month, Senate Majority Leader Chuck Schumer announced on Thursday. Democrats had been trying to pass legislation that would have raised the debt limit through the end of 2022 but Republicans blocked that effort.” (Reuters)
“The number of Americans filing new claims for jobless benefits dropped by the most in three months last week, suggesting the labor market recovery was regaining momentum after a recent slowdown, as the wave of COVID-19 infections began to subside.
The weekly unemployment claims report from the Labor Department on Thursday, the most timely data on the economy’s health, also showed the number of people on state unemployment rolls plunging to an 18-month low in late September. That bodes well for the government’s closely watched employment report for September due for release on Friday.
Initial claims for state unemployment benefits decreased 38,000 to a seasonally adjusted 326,000 for the week ended Oct. 2. That was the biggest drop since late June. Unadjusted claims, which economists say offer a better read of the labor market, tumbled 41,431 to 258,909 last week. California led the drop in claims last week. There were also decreases in Michigan, Ohio, Washington DC and Missouri.” (Reuters)
“New orders for U.S.-made goods accelerated in August, pointing to sustained strength in manufacturing even as economic growth appeared to have slowed in the third quarter because of shortages of raw materials and labor.
The Commerce Department said on Monday that factory orders increased 1.2% in August. Data for July was revised higher to show orders rising 0.7% instead of gaining 0.4% as previously reported. Orders have now increased for four straight months.” (Reuters)


(MarketWatch)

Week Ahead Highlights: Inflation data is due out next week – the CPI and PPI reports come out on Tuesday and Wednesday.
“U.S. stock market investors are gauging whether more volatility is ahead because of surging global energy prices, which could drive up inflation, erode profit margins and pressure consumer spending.”

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Energy rolled on, leading by a wide margin again this week, with Communications Services falling the most.

Futures: WTI Crude rose 2.38%, ending at $79.58, a 7-year high, its highest close since 2014. Natural Gas futures also hit 7-year highs this week.

Stock Market News: 10-2-21

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Market Indexes: It was a down week, with the Tech-heavy NASDAQ pulling back the most. Friday saw a rebound – a welcome change after the September pullback.
“Wall Street stocks ended sharply lower on Tuesday in a broad sell-off driven by rising U.S. Treasury yields, deepening concerns over persistent inflation, and contentious debt ceiling negotiations in Washington. All three major U.S. stock indexes slid nearly 2% or more, with interest rate sensitive tech and tech-adjacent stocks weighing heaviest as investors lost their risk appetite. It was the S&P 500 index’s biggest one-day percentage drop since May, and the Nasdaq’s largest since March.” (Reuters)

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Volatility: The VIX rose 19% this week, ending the week at $21.15, after rising 40% in September.

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Market Breadth: 8 out of 30 DOW stocks rose this week, vs. 14 last week. 30% of the S&P 500 rose, vs. 56% last week.

FOREX: The US $ rose vs. other major currencies this week, except the Loonie and Aussie $.

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Economic News: “New orders and shipments of key U.S.-made capital goods increased solidly in August amid strong demand for computers and electronic products, keeping business spending on equipment on track for another quarter of robust growth. Core capital goods orders rose 0.5%; Core capital goods shipments rose 0.7%; and Durable goods orders surged 1.8%; unfilled orders up 1.0%.” (Reuters)

“The number of Americans filing new claims for jobless benefits rose further last week amid another increase in California, but the labor market recovery remains intact, with unemployment rolls steadily shrinking in mid-September. Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 362,000 for the week ended Sept. 25. Economists polled by Reuters had forecast 335,000 applications for the latest week. Claims have been rising, with economists blaming a range of factors including wildfires in California and the lingering effects of Hurricane Ida, which struck the Gulf Coast in late August and caused record flooding in New York and New Jersey in early September.
The latest wave of coronavirus infections could also have caused some companies in the high contact services sectors to layoff workers. The upheaval caused by the pandemic has also made it harder to adjust the data for seasonal fluctuations.
Unadjusted claims, which economists say offer a better read of the labor market, fell 8,326 to 298,255 last week.” (Reuters)


(MarketWatch)

Week Ahead Highlights: “Stocks and bonds could take cues in the coming week from developments in Washington, where lawmakers continue to debate an infrastructure spending package, as well as next Friday’s monthly U.S. jobs report.
Among the indicators investors are using to gauge stocks’ future trajectory is the spread between the yields on two-year and 10-year Treasuries. Some view this as a barometer of whether the economy is slowing or overheating.” (Reuters)

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Energy led by a wide margin again this week, with Healthcare falling the most.

Futures: WTI Crude rose 2.38%, ending at $75.74, its highest close since July.

Stock Market News: 9-25-21

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Market Indexes: It was a volatile week, with big swings, but all 4 indexes eked out small gains.
“Stocks slid Monday, with major indices tumbling by over 2% during the worst points of the afternoon session, as investors nervously eyed the potential ripple effects of the default of a major Chinese real estate company, as well as ongoing debates over the debt limit in Washington. The CBOE Volatility Index, or VIX, jumped by more than 30% to its highest since May, as a confluence of risks roiled markets.
Fears mounted that Evergrande, the Chinese real estate juggernaut would collapse under a major debt burden, impacting shareholders, bondholders and potentially triggering turmoil elsewhere across global markets. Meanwhile, heated debates in Washington over increasing the government’s borrowing limit built on the risk-off tone in markets.” (YahooFinance)
“World stock markets rallied on Thursday and the U.S. dollar retreated from one-month highs as worries faded about contagion from China Evergrande and as investors digested the Federal Reserve’s plans for reining in U.S. stimulus. Norway’s central bank raised its benchmark interest rate and said it expects to hike again in December, joining a growing list of nations moving away from emergency-level borrowing costs. Norway’s crown strengthened versus the euro to its highest since mid-June.” (Reuters)

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Volatility: The VIX was down 14.7% this week, ending the week at $17.75.

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Market Breadth: 14 out of 30 DOW stocks rose this week, vs. 9 last week. 56% of the S&P 500 rose, vs. 41% last week.

FOREX: The US $ fell vs. the Loonie and the Swiss Franc, and rose vs. other major currencies this week.

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Economic News: “The Federal Reserve said it could soon slow its large-scale purchases of government-backed debt and indicated it might raise interest rates in 2022. Federal Reserve officials indicated on Wednesday that they expect to soon slow the asset purchases they have been using to support the economy and predicted they may raise interest rates next year, sending a clear signal that policymakers are preparing to pivot away from full-blast monetary help as the business environment snaps back from the pandemic shock.
“If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted,” the policy-setting Federal Open Market Committee said in its statement. The new phrasing eliminated wording that had promised to assess progress over “coming meetings,” suggesting that a formal announcement of the slowdown could come as early as the central bank’s next gathering in November.
Fed officials confront a complicated backdrop nearly 20 months after the coronavirus pandemic first shook the American economy. Business has rebounded as consumers spend strongly, helped along by repeated government stimulus checks and other benefits. But the virus persists and many adults remain unvaccinated, preventing a full return to normal.
The Fed has been holding interest rates at rock bottom since March 2020 and is buying $120 billion in government-backed bonds each month, policies that work together to keep many types of borrowing cheap. That has fueled lending and spending and boosted economic growth.
“My own view would be that the substantial further progress test for employment is all but met,” Mr. Powell said. “I think if the economy continues to progress broadly in line with expectations, and also the overall situation is appropriate for this, I think we could easily move ahead at the next meeting — or not, depending on whether we think those tests are met.”
Policymakers also discussed the pace of the slowdown in asset purchases, Mr. Powell said, with officials largely expecting the overall bond-buying program to conclude around the middle of next year.” (NY Times)

(MarketWatch)

Week Ahead Highlights: It’ll be a heavy data week, with several Housing reports, the Q2 GDP figure, and mfg. and goods reports due out.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Energy and Financials led by a wide margin this week, with Real Estate falling the most again.

Futures: WTI Crude rose 7%, ending at $73.95, its highest point since July.
“U.S. crude inventories last week fell by 3.5M barrels to 414M barrels, the lowest since October 2018, the EIA reported Wed. The report was bullish overall, as crude supplies are “only going to get worse in the coming weeks” because inventories are “stretched and refiners are coming on back faster than supply of crude oil in the Gulf of Mexico. (YahooFinance)

Stock Market News: 9-18-21

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Market Indexes: 3 out of 4 indexes fell this week, with only the Russell small caps finishing in positive territory, 0.39%. The DOW is down over -2% so far in September, while the S&P is close behind, down -2%.
“World shares fell on Friday, pressured by concerns over China’s markets, the potential for a U.S. corporate tax hike and an update on the U.S. Federal Reserve’s tapering strategy next week. The Federal Reserve, facing a labor market that may be stalling or on the cusp of a surge, is expected next week to open the door to reducing its monthly bond purchases while tying any actual change to U.S. job growth in September and beyond.

“The big test comes as we move past the Delta wave – we will see how long it takes to loosen up the supply side of the economy,” wrote Bank of America economist Michelle Meyer. “Whether the supply constraints are fleeting or persistent matters for the Fed. The former allows for easy policy to continue.”
The U.S. 10-year treasury note yield rose to touch a two-month high, and the dollar touched a three-week high.” (Reuters)

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Volatility: The VIX was ~flat this week, down -0.05%, ending the week at $20.81.

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Market Breadth: 9 out of 30 DOW stocks rose this week, vs. 5 last week. 41% of the S&P 500 rose, vs. 16% last week.

FOREX: The US $ rose vs. other major currencies again this week.

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Economic News: Core CPI fell in August, while Retail Sales rose. Both the NY and Philadelphia Mfg. Indexes rose.
“U.S. consumers’ expectations for how much inflation will change over the next year and the coming three years rose last month to the highest levels since 2013, according to a survey released on Monday by the New York Federal Reserve.
Year-ahead inflation expectations increased for the 10th straight month to a median of 5.2% in August, according to the monthly survey of consumer expectations. Inflation expectations over the next three years increased to a median of 4.0%. Both metrics are at the highest they’ve ever been for the survey, which was launched in 2013.” (Reuters)

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(MarketWatch)

Week Ahead Highlights: Investors will get additional readings on the health of the U.S. economy next week with the release of consumer price index figures, retail sales, and a measure of consumer sentiment.

Next Week’s US Economic Reports: Investors await the Fed’s meeting next week, and will will focus on the Fed’s timeline for tapering asset purchases.

(MarketWatch)

Sectors: The Energy sector led this week, with Utilities lagging

Futures: WTI Crude rose .61%, ending at $69.17.
“OPEC said on Monday that demand for oil was expected to rebound above pre-pandemic levels next year.
In its Monthly Oil Report, the group said that it expected oil demand to average 100.8 million barrels per day in 2022, compared with just over 100 million barrels a day in 2019 before the pandemic took hold. China, for instance, is expected to consume almost 15 million barrels a day in oil next year, 1.5 million barrels a day more than it burned in 2019.

The pandemic slammed oil demand, which plummeted by around nine million barrels a day last year, or about 9 percent, OPEC said. Oil consumption has recovered strongly, but the emergence of the fast-spreading Delta variant has applied the brakes. Now, OPEC expects some of the recovery in oil demand previously forecast this year to be put off until 2022.” (NY Times)

Stock Market News: 9-11-21

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Market Indexes: All 4 indexes fell again this week, with the Russell small caps falling the most, down -2.78%.
“U.S. stocks fell for a fifth straight day on Friday, with the S&P 500 ending the week down 1.7 percent in its longest losing streak since February.” (NY Times)

“Wall Street main indexes finished lower on Friday after data showing persistent U.S. inflation offset expectations of an easing in U.S.-China tensions after a call between President Joe Biden and China’s Xi Jinping. U.S. producer prices increased solidly in August, indicating that high inflation is likely to persist for a while, with supply chains remaining tight as the COVID-19 pandemic drags on.” (Reuters)

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Volatility: The VIX rose 28% this week, ending the week at $20.95.

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Market Breadth: 5 out of 30 DOW stocks rose this week, vs. 17 last week. 16% of the S&P 500 rose, vs. 53% last week.

FOREX: The US $ rose vs. other major currencies this week.

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Economic News: Unemployment claims fell to 310K last week from 340K the previous week.The Producer Price Index fell to 0.7% in August from 1% in July.


(MarketWatch)

Week Ahead Highlights: Investors will get additional readings on the health of the U.S. economy next week with the release of consumer price index figures, retail sales, and a measure of consumer sentiment.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: All sectors fell this week, with Consumer Discretionary holding up the best, and Real Estate falling the most.

Futures: WTI Crude rose .61%, ending at $69.17.

Stock Market News: 09-04-21

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Market Indexes: Only the DOW fell this week, with the NASDAQ leading.

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Volatility: The VIX was flat this week, ending the week at $16.41.
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Market Breadth: 17 out of 30 DOW stocks rose this week, vs. 18 last week. 53% of the S&P 500 rose, vs. 72% last week.

FOREX: The US $ fell vs. other major currencies this week, except for the Swiss Franc.

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Economic News: “The American economy slowed abruptly last month, adding 235,000 jobs, a sharp drop from the huge gains recorded earlier in the summer and an indication that the Delta variant of the coronavirus is putting a damper on hiring. follows a sharp increase in coronavirus cases and deaths that has undermined hopes that restrictions on daily activities were nearing an end.
The unemployment rate was 5.2%, compared with 5.4% in July. Economists polled by Bloomberg has been looking for gain of 725,000 jobs. The August showing would have been respectable in pre-pandemic times. But after gains of 962,000 in June and 1.05 million in July — and with more than eight million people unemployed — it was a sharp deceleration.
The scale of the weakness was most apparent in lower-paid industries in which employees deal with customers face to face, like restaurants, bars and hotels. Leisure and hospitality employment in August was unchanged after strong gains in previous months. Retail jobs declined by 29,000. White-collar workers fared better, as did those in manufacturing.
“I think the fingerprints of the Delta variant were all over this report,” said Scott Anderson, chief economist at Bank of the West in San Francisco. “We saw a big pullback in pandemic-impacted industries, and it was a pretty broad-based disappointment.” The report also showed the first increase since December in the number of people working from home.” (NY Times)

“U.S. construction spending picked up in July, lifted by gains in both private and public sector projects. The Commerce Department said on Wednesday that construction spending increased 0.3% after being unchanged June. Construction spending rose 9.0% on a year-on-year basis in July.
Spending on private construction projects rose 0.3% after increasing 0.4% in June. Outlays on residential projects advanced 0.5%, with single-family homebuilding spending increasing 0.9%, driven by robust demand for housing. Investment in private non-residential construction like gas and oil well drilling slipped 0.2% in July. Spending on public construction projects rebounded 0.7% in July after dropping 1.6% in June. Outlays on state and local government construction projects rose, but federal government spending dropped 1.1%.” (Reuters)
“U.S. manufacturing activity unexpectedly picked up in August amid strong order growth, but a measure of factory employment dropped to a nine-month low, likely as workers remained scarce. The ISM said on Wednesday its index of national factory activity inched up to 59.9 last month from a reading of 59.5 in July.
A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. The ISM survey’s forward-looking new orders sub-index rebounded to a reading of 66.7 last month after two straight monthly declines. Demand is being driven by businesses desperate to replenish stocks after inventories were drawn down sharply in the first half of the year.
The survey’s measure of prices paid by manufacturers fell to an eight-month low of 79.4 from a reading of 85.7 in July. This measure has dropped from a record 92.1 in June.
It was the latest indication that inflation has probably peaked. Data last week showed the Federal Reserve’s preferred inflation measure recorded its smallest monthly gain in five months in July.” (Reuters)

(MarketWatch)

Week Ahead Highlights: US markets will be closed Monday, in observance of the Labor Day holiday.
Next Week’s US Economic Reports:

(MarketWatch)
Sectors: Healthcare led this week, with the Financials sector lagging.

Futures: WTI Crude rose .52%%, basically flat, ending at $69.10.

Stock Market News: 8-28-21

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Market Indexes: All 4 indexes rose this week, aided by a weaker US $, and rising energy prices. The Russell small caps bounced back in a big way, gaining 5%, while the NADAQ added 2.8%.

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Volatility: The VIX fell 11.7% this week, ending the week at $16.39.

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Market Breadth: 18 out of 30 DOW stocks rose this week, vs. 11 last week. 72% of the S&P 500 rose, vs. 34% last week.

FOREX: The US $ fell vs. other major currencies this week, except for the Yen.

“The dollar slid on Friday after the market perceived a highly anticipated speech by Federal Reserve Chair Jerome Powell to be dovish, even though he indicated tapering the U.S. central bank’s massive economic support should start by year’s end. Powell said there has been clear progress toward maximum employment and that he was of the view that if the U.S. economy evolved broadly as anticipated, “it could be appropriate to start reducing the pace of asset purchases this year.” (Reuters)

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Economic News: “Global equity markets slipped on Thursday, while U.S. Treasury yields dipped after reaching two-week highs after two hawkish Federal Reserve officials called for the U.S. central bank to start ending its bond-buying program.
Ahead of a speech by Fed Chair Jerome Powell, Dallas Fed President Robert Kaplan said he still believes the Fed in September would announce a plan for tapering to start in October or shortly thereafter. Earlier, St. Louis Fed President James Bullard said the Fed is “coalescing” around a plan to begin reducing its $120 billion in monthly bond purchases. Following Kaplan and Bullard’s comments, benchmark 10-year Treasury note yields reached their highest level since Aug. 12 before retreating to 1.3491%% after U.S. markets closed.” (Reuters)

“U.S. consumer spending slowed in July as a decline in motor vehicle purchases due to shortages offset a rise in outlays on services, supporting views that economic growth will moderate in the third quarter amid a resurgence in COVID-19 infections. But the slowdown in spending will probably not be as sharp as currently anticipated, with the report from the Commerce Department on Friday showing Americans boosting savings. Inflation also appears to have peaked, which could preserve households’ purchasing power.
Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.3% last month. Data for June was revised up to show spending advancing 1.1% instead of 1.0% as previously reported. Demand is rotating back to services like travel and leisure, but spending has not been sufficient to compensate for the drop in goods, whose purchases are also being impacted by shortages.
Goods spending fell 1.1% last month, led by motor vehicles. A global shortage of semiconductors is hampering auto production. There were also decreases in spending on recreational goods as well as clothing and footwear.” (Reuters)

“U.S. existing home sales increased for the second consecutive month in July as inventories improved moderately, while prices eased from the prior month’s record level.
Existing home sales increased 2.0% to a seasonally adjusted annual rate of 5.99 million units last month from June’s upwardly revised pace, the National Association of Realtors said on Monday. Sales were unchanged in the Northeast, but increased in the Midwest, South and the West. Home resales, which account for the bulk of U.S. home sales, increased 1.5% on a year-on-year basis. The median sales price slipped to $359,900 from June’s record level but was still up 17.8% from a year earlier.
The sales rate increase suggests the drop-off in sales this year from last year’s 14-year high may have run its course.” (Reuters)

“The US Food and Drug Administration on Monday granted full approval to the Pfizer/BioNTech Covid-19 vaccine for people age 16 and older. This is the first coronavirus vaccine approved by the FDA, and is expected to open the door to more vaccine mandates.
“The vaccine has been known as the Pfizer-BioNTech COVID-19 Vaccine, and will now be marketed as Comirnaty, for the prevention of COVID-19 disease in individuals 16 years of age and older,” the FDA said Monday. “The vaccine also continues to be available under emergency use authorization (EUA), including for individuals 12 through 15 years of age and for the administration of a third dose in certain immuno-compromised individuals,” according to the FDA. (CNN)
“Business activity in the euro zone grew strongly this month, only dipping from July’s two-decade high monthly pace, as a rapid COVID-19 vaccination drive allowed more firms to reopen and customers to venture out, a survey showed.” (Reuters)

(MarketWatch)
Week Ahead Highlights: The August Non-Farm Payrolls report is due out on Friday.
“A rally in which U.S. stocks have doubled from post-pandemic lows is about to enter the year’s worst month for equities, as investors focus on a nationwide COVID-19 resurgence and how quickly the Federal Reserve plans to pull back on its easy money policies. September has been the worst month of the year for the S&P 500, with the benchmark index falling an average of 0.56% since 1945. The S&P has advanced only 45% of the time in September, the lowest rate of any month.” (Reuters)

Next Week’s US Economic Reports:

(MarketWatch)
Sectors: Energy led this week, with the Utilities sector lagging.

Futures: WTI Crude rose 10.6%, ending at $68.67.

Stock Market News: 8-21-21

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Market Indexes: All 4 indexes fell this week, with the Russell small caps falling the most, down -2.54%.
“The account of the Fed’s July 27-28 meeting showed Fed officials largely expect that later this year they will reduce the central bank’s emergency monthly purchases of $120 billion of Treasury bonds and mortgage-backed securities.
But consensus on other key issues appeared elusive, including the start date and pace of the bond-buying “taper,” and whether the bigger risk to the recovery is posed by inflation, ongoing joblessness, or the lurking chance that a resurgent coronavirus may throw things into reverse.
As policymakers weighed recent spikes in prices against the value of being “patient” with monetary policy so more hiring could take place, they also noted “the risks that rising COVID-19 cases associated with the spread of the Delta variant could cause delays in returning to work and school, and dampen the economic recovery.” (Reuters)

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Volatility: The VIX rose 20% this week, ending the week at $18.56.

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Market Breadth: 11 out of 30 DOW stocks rose this week, vs. 23 last week. 34% of the S&P 500 rose, vs. 66% last week.

FOREX: The US $ rose vs. other major currencies, sending commodities lower, on news of possible earlier Fed tapering, and potential threats to the economic recovery stemming from  rising Delta variant cases.

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Economic News: “China’s July retail sales, industrial production and fixed asset investment were all weaker than expected as the latest COVID-19 outbreak weighed on the world’s second-biggest economy. Industrial production in the world’s second largest economy increased 6.4% year-on-year in July, data from the National Bureau of Statistics (NBS) showed on Monday. Analysts had expected output to rise 7.8% after growing 8.3% in June.
Retail sales increased 8.5% in July from a year ago, far lower than the forecast 11.5% rise and June’s 12.1% uptick. China’s economy has rebounded to its pre-pandemic growth levels, but the expansion is losing steam as businesses grapple with higher costs and supply bottlenecks. New COVID-19 infections in July also led to fresh restrictions, disrupting the country’s factory output already hit by severe weather this summer.” (Reuters)

“U.S. homebuilder confidence in the market for single-family homes fell in August to its lowest reading in 13 months, driven by higher construction costs and supply shortages. The NAHB/Wells Fargo Housing Market index declined 5 points to a reading of 75 this month, its lowest level since July 2020, from 80 in July. Economists polled by Reuters had expected the index to remain unchanged from the month prior.
However, a reading above 50 means more builders view market conditions as favorable than poor. The index hit an all-time high of 90 in November 2020. Surging home prices and limited supply has put a lid on home sales throughout this year. Consequently, fewer U.S. consumers believe that now is a good time to purchase a home.” (Reuters)

“U.S. business inventories increased strongly in June, though raw material shortages continue to frustrate efforts by motor vehicle retailers to restock. Business inventories rose 0.8% after advancing 0.6% in May, the Commerce Department said on Tuesday. Inventories are a key component of gross domestic product. June’s increase was in line with economists’ expectations. Inventories increased 6.6% on a year-on-year basis in June.” (Reuters)

“Housing starts dropped 7.0% to a seasonally adjusted annual rate of 1.534 million units last month. Data for June was revised up to a rate of 1.650 million units from the previously reported 1.643 million units. Homebuilding fell in the Northeast, Midwest and West, but rose in the populous South. Economists polled by Reuters had forecast starts would fall to a rate of 1.600 million units. Starts increased 2.5% on a year-on-year basis in July.
Single-family starts, which account for the largest share of the housing market, fell 4.5% to a rate of 1.111 million units. Starts for the multi-family segment tumbled 13.1% to a rate of 423,000 units. Permits for future homebuilding rose 2.6% to a rate of 1.635 million units in July. Single-family permits fell 1.7% to a rate of 1.048 million units. Permits for multi-family housing projects jumped 11.2% to a rate of 587,000 units.” (Reuters)

(MarketWatch)
Week Ahead Highlights: “The Fed is likely to dominate the economic conversation next week as well with an annual meeting of central bankers at Jackson Hole, Wyoming. Markets will be watching for any clearer indication on plans for a Fed taper of monthly bond purchases, which minutes showed officials believed would happen this year if the economy recovers as expected. Fed Chairman Jerome Powell will deliver remarks on the economic outlook next Friday.” (Reuters)

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Healthcare led this week, with the Energy sector lagging.

Futures: WTI Crude fell -.37%, basically flat, ending at $68.03.

Stock Market News: 8-14-21

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Market Indexes: 2 out of 4 indexes gained this week, the DOW and the S&P, with the NASDAQ ~flat, and the Russell small caps retreating -1%.
“The Dow Industrial and S&P 500 edged up to closing records on Friday and notched a second straight week of gains, buoyed by a climb in Walt Disney shares, but a sharp drop in consumer sentiment kept gains in check. A report from the University of Michigan dented optimism after it showed the university’s preliminary consumer sentiment index fell to 70.2, its lowest level in a decade, suggesting that the Delta variant of the coronavirus was impacting consumers.” (Reuters)

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Volatility: The VIX fell 5% this week, ending the week at $15.45.

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Market Breadth: 23 out of 30 DOW stocks rose this week, vs. 14 last week. 66% of the S&P 500 rose, vs. 54% last week.

FOREX: The US $ fell vs. other major currencies, except the Pound and the Swiss Franc, this week.

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Economic News: “A $1 trillion infrastructure package that is a top priority for U.S. President Joe Biden secured enough votes to pass in the Senate on Tuesday, a bipartisan victory for the White House as it aims to provide the nation’s biggest investment in decades in roads, bridges, airports and waterways.
Polls show that the drive to upgrade America’s infrastructure, hammered out by a bipartisan group of senators over months of negotiations, is broadly popular with the public. The bill still has to go to the House of Representatives and the spirit of cooperation in Congress that led to its passage on Tuesday will likely prove fleeting.” (Reuters)

“The number of Americans filing claims for unemployment benefits fell last week, a sign that the economic recovery from the COVID-19 pandemic continues to gather momentum.
Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 375,000 for the week ended August 7. Data for the prior week was revised to show 2,000 more applications received than previously reported. Claims remain well above their pre-pandemic level of 256,000, though they have dropped from a record 6.149 million in early April 2020. There were a record 10.1 million job openings at the end of June. About 8.7 million people are officially unemployed.” (Reuters)

(MarketWatch)
Week Ahead Highlights: Housing reports and FOMC meeting minutes are due out next week.
Q2 ’21 Earnings season continues to wind down, with 3 DOW stocks reporting – tech giant CSCO, and retailers WMT and HD. Several other big S&P retailers will report, including TGT, TJX, and ROST.
Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Basic Materials led this week, aided by the dollar’s decline, with the Energy sector lagging.

Futures: WTI Crude fell -.37%, basically flat, ending at $68.03.

Stock Market News: 8-7-21

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Market Indexes: All 4 indexes gained again this week, led by the NASDAQ and the Russell small caps. “The S&P 500 logged record closing and intraday highs on Friday, extending record-setting gains from a day earlier. The Dow added more than 100 points, or 0.4%, and also set a record high. The Nasdaq dipped as Treasury yields gained across the curve after the better-than-expected print on the labor market’s recovery.” (YahooFinance)

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Volatility: The VIX fell 12.5% this week, after spiking as high as $25 intraday on Monday’s pullback, and ended the week at $16.30.

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Market Breadth: 14 out of 30 DOW stocks rose this week, vs. 15 last week. 54% of the S&P 500 rose, vs. 72% last week.

FOREX: The US $ rose vs. other major currencies, except the NZ and Aussie $, this week.

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Economic News: “At 943,000, payrolls last month grew by the most since August 2020.
The Unemployment rate fell to 5.4% vs. 5.7% expected and 5.9% in June.
Job growth was also upwardly revised for May, coming in at 614,000 versus the 583,000 previously reported, and for June, with an upward revision to 938,000 from 850,000.
The economy, however, is still trying to recoup millions of jobs lost since the start of the pandemic. On net, the economy has shed 5.7 million payrolls since March of last year, with much of this deficit still present in the leisure and hospitality industries. These employers shed a total of nearly 2 million jobs since the pandemic first brought about shutdowns across the U.S.
Leisure and hospitality employers were again the leaders in bringing back jobs last month, with payrolls rising by 380,000 to comprise more than a third of the total July jobs gains. In the private sector, education and health services employment also contributed notably, with payrolls increasing by nearly 90,000.
A significant contributor to the July payrolls report also came from government jobs, especially in education. Overall, government payrolls were up by 240,000 last month. These increases, however, may overstate the extent of actual job growth occurring in the sector, given seasonal adjustment issues due to the pandemic.
“Staffing fluctuations in education due to the pandemic have distorted the normal seasonal buildup and layoff patterns, likely contributing to the job gains in July,” the Labor Department said in its report.” (Yahoo)

“New orders for U.S.-made goods increased more than expected in June, while business spending on equipment was solid, pointing to sustained strength in manufacturing even as spending is shifting away from goods to services. Factory orders rose 1.5% in June after advancing 2.3% in May. Economists polled by Reuters had forecast factory orders increasing 1.0%.
Orders soared 18.4% on a year-on-year basis. Demand pivoted towards goods during the COVID-19 pandemic as millions of Americans were cooped up at home, boosting manufacturing, which accounts for 11.9% of the U.S. economy. But the surge in demand is straining the supply chain. The increase in factory goods orders in June was broad, with notable gains in machinery, computers and electronic products, as well as electrical equipment, appliances and components.” (Reuters)

“U.S. President Joe Biden’s administration on Friday announced a final extension of a coronavirus relief pause on federal student loan repayments, interest and collections until Jan. 31, 2022.” (Reuters)


(MarketWatch)
Week Ahead Highlights: CPI, PPI and Consumer Sentiment reports are due out next week.
Q2 ’21 Earnings season starts to wind down, with 9 members of the S&P 500 reporting, including Disney.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: Financials and Utilities led this week, with the Consumer Staples sector lagging.

Futures: WTI Crude fell -7.86%, ending at $68.00, while Natural Gas rose 6%.

Stock Market News: 7-31-21

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Market Indexes:  Only the the Russell small caps gained this week, with the NASDAQ, DOW, and the S&P all down.

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Volatility: The VIX fell 1.1% this week, ending the week at $18.24.

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Market Breadth: 15 out of 30 DOW stocks rose this week, vs. 20 last week. 62% of the S&P 500 rose, vs. 72% last week.

FOREX: The US $ fell vs. other major currencies this week, except the Aussie and NZ $.

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Economic News: “Gross domestic product increased at a 6.5% annualized rate last quarter, the government said in its advance estimate of second-quarter GDP. The economy grew at a 6.3% rate in the first quarter, revised down from the previously reported 6.4% pace. Economists polled by Reuters had forecast GDP rising at an 8.5% rate last quarter. Excluding inventories, trade and government spending, the economy grew at a 9.9% pace.
With the second-quarter estimate, the government published revisions to GDP data, which showed the economy contracting 3.4% in 2020, instead of 3.5% as previously estimated. That was still the biggest drop in GDP since 1946.” (Reuters)

“U.S. consumer confidence inched up to a 17-month high in July, with households’ spending plans rising even as concerns about higher inflation lingered, suggesting the economy maintained its strong growth clip early in the third quarter.
The economy’s prospects were further brightened by other data on Tuesday showing a solid increase in new orders for manufactured capital goods in June despite supply constraints hampering production at some factories, indicating that business spending on equipment could remain strong for a while.
The Conference Board said its consumer confidence index ticked up to a reading of 129.1 this month, the highest level since February 2020, from 128.9 in June. Economists polled by Reuters had forecast the index would fall to 123.9.” (Reuters)

“U.S. consumer spending surged in June as vaccinations against COVID-19 boosted demand for travel-related services, but part of the increase reflected higher prices, with annual inflation accelerating further above the Federal Reserve’s 2% target. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rebounded 1.0% last month after dipping 0.1% in May, the Commerce Department said. Economists polled by Reuters had forecast consumer spending rising 0.7%. Spending on services advanced 1.2% last month. The broad increase was led by spending at restaurants and hotels.
Spending on goods rose 0.5%. Spending on long-lasting goods decreased 1.5%, reflecting a decline in motor vehicle purchases. Outlays on nondurable goods rose 1.8%. Consumer spending grew at a robust 11.8% annualized rate last quarter, accounting for much of the economy’s 6.5% growth pace, which lifted the level of GDP above its peak in the fourth quarter of 2019.” (Reuters)

“The International Monetary Fund on Tuesday maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections.
The divergence is based largely on better access to COVID-19 vaccines and continued fiscal support in advanced economies, while emerging markets face difficulties on both fronts, the IMF said in an update to its World Economic Outlook.

“Close to 40 percent of the population in advanced economies has been fully vaccinated, compared with 11 percent in emerging market economies, and a tiny fraction in low-income developing countries,” Gita Gopinath, the IMF’s chief economist, said during a news conference.” (Reuters)

“U.S. single-family home prices in 20 key urban markets rose in May from a year earlier at the fastest pace in nearly 17 years, a closely watched survey said on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 17.0% through the 12 months ended in May, the largest annual price increase since August 2004. On a month-to-month basis, the 20-city composite index rose 1.8% from April. Among the 20 cities, Phoenix, San Diego, and Seattle reported the largest year-over-year gains in May.
Sales of new U.S. single-family homes declined for the third consecutive month in June, hitting a 14-month low amid supply constraints. Meanwhile, existing home sales rebounded moderately last month.” (Reuters)


(MarketWatch)
Week Ahead Highlights: July’s Non-Farm Payrolls report is due out on Fri. am. There were 850,000 jobs created last month.
Q2 ’21 Earnings season continues, with 27% of the S&P 500 reporting, including several Energy companies.

Next Week’s US Economic Reports:

(MarketWatch)

Sectors: The Basic Materials and Energy led this week, with the Consumer Discretionary sector lagging.

Futures: WTI Crude rose 2.41%, ending at $73.81.

Stock Market News: 7-24-21

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Market Indexes: All 4 indexes gained this week, led by the NASDAQ and the Russell small caps.
“The S&P 500 and Nasdaq indexes hit record highs on Friday and ended the week with good gains, helped by megacap growth stocks and strong earnings from social media companies, while a weak forecast from Intel hit chipmakers.” (Reuters)

“Wall Street plunged in a broad sell-off on Monday as mounting infections of the COVID-19 Delta variant revived fears of renewed shutdowns and a protracted economic recovery, sending investors fleeing for safety.
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery. All three major U.S. stock indexes ended the session sharply lower, with the S&P and the Nasdaq suffering their largest one-day percentage drop since mid-May.
The blue-chip Dow had its worst day in nearly nine months. The highly contagious COVID-19 Delta variant, now the dominant strain across the globe, has caused a surge in new infections and deaths, nearly exclusively among unvaccinated people.” (Reuters)

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Volatility: The VIX fell 6.8% this week, after spiking as high as $25 intraday on Monday’s pullback, and ended the week at $18.45.

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Market Breadth: 20 out of 30 DOW stocks rose this week, vs. 13 last week. 72% of the S&P 500 rose, vs. 32% last week.

FOREX: The US $ fell vs. the Loonie, and rose vs. other major currencies this week.

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Economic News: “U.S. Treasury Secretary Janet Yellen urged lawmakers on Friday to increase or suspend the nation’s debt limit as soon as possible and warned that if Congress does not act by Aug. 2, the Treasury Department will need to take “extraordinary measures” to prevent a U.S. default.
As a partisan fight over raising the debt ceiling erupted in Congress, Yellen told House of Representatives Speaker Nancy Pelosi in a letter that the outstanding debt of the United States will be at the statutory limit on Aug 1. “Today, Treasury is announcing that it will suspend the sale of State and Local Government Series (SLGS) securities at 12:00 p.m. on July 30, 2021,” Yellen said in the letter, also sent to other congressional leaders from both parties.
The suspension will continue until the debt ceiling is suspended or raised, Yellen said.
“If Congress has not acted to suspend or increase the debt limit by Monday, August 2, 2021, Treasury will need to start taking certain additional extraordinary measures in order to prevent the United States from defaulting on its obligations,” Yellen added.
A failure to work out differences over whether government spending cuts should accompany an increase in the statutory debt limit, currently set at $28.5 trillion, could lead to a federal government shutdown – as has happened three times in the past decade – or even a debt default.” (Reuters)

(MarketWatch)

Week Ahead Highlights:
Q2 ’21 Earnings season gets into high gear, as 10 DJIA stocks report next week, including AAPL, MSFT, PG, and V. 33% of the S&P 500 will report. The 1st estimate for Q2 GDP is due out on Thursday.

Next Week’s US Economic Reports:

(MarketWatch)
Sectors: The Communications Services  led this week, while the Utilities sector lagged.

Futures: WTI Crude rose .85%, ending at $72.17.
“WTI Crude fell below $70/barrel for the first time in over a month Monday, as OPEC and its allies agreed to increase production at the same time the COVID-19 delta variant threatens global demand.
OPEC’s decision to continue holding production back in the months ahead is a sign that Saudi Arabia is willing to give up some market share to U.S. producers in exchange for higher prices, which is a “net positive for U.S. shale,” says Bank of America’s Chase Mulvehill.” (YahooFinance)

Stock Market News: 07-17-21

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Market Indexes: All 4 indexes fell this week, for the 1st time in a month, with the Russell small caps retreating -5%, its worst weekly decline since October, as investors grew wary again about inflation.

“Accelerating inflation raises concern about the sustainability of the economic expansion. Treasury yields fell for a 3rd consecutive week. Fed Chief Powell defended the central bank’s accommodative stance for a second time in two days on Thursday in his testimonies to lawmakers. The Fed’s stance underscores a growing divergence among global central banks on their response to growing price pressures. Policy makers from New Zealand to Canada and the U.K. are turning hawkish, making investors wonder how long could the Fed afford to remain dovish.” (Bloomberg)

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Volatility: The VIX rose 14% this week, ending the week at $18.45.

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Market Breadth: 13 out of 30 DOW stocks rose this week, vs. 14 last week. 32% of the S&P 500 rose, vs. 43% last week.

FOREX: The US $ fell vs. the Yen, and the NZ $, but rose vs. other major currencies this week.

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Economic News: “U.S. retail sales unexpectedly increased in June as demand for goods remained strong even as spending is shifting back to services, bolstering expectations that economic growth accelerated in the second quarter.
Sales surged 18.0% compared to June last year and are now well above their pre-pandemic level. Demand shifted to goods like electronics and motor vehicles during the pandemic as millions of people worked from home, took online classes and avoided public transportation.
Spending is now rotating back to services like travel and entertainment, with at least 160 million Americans fully immunized against COVID-19. Retail sales are mostly goods, with services such as healthcare, education, travel and hotel accommodation making up the remaining portion of consumer spending.

Receipts at auto dealerships fell 2.0% after declining 4.6% in May. Sales at clothing stores increased 2.6%. Consumers increased spending at restaurants and bars, leading to a 2.3% rise in receipts. Sales at restaurants and bars increased 40.2% compared to June 2020.

Receipts at electronics and appliance stores rose 3.3%; sales at furniture stores fell 3.6%. Sales at sporting goods, hobby, musical instrument and book stores dropped 1.7%. Receipts at food and beverage stores gained 0.6%. Sales at building material stores fell 1.6%.

Online retail sales rose 1.2%, likely lifted by Amazon’s Prime Day, which was emulated by other retailers.” (Reuters)

“The Consumer Price Index climbed by 5.4 percent in the year through June, the Labor Department said, as prices for used cars and trucks increased rapidly. The increase was more than the 5 percent increase reported in May and was the largest year-over-year gain since 2008.” (NY Times)

“U.S. consumer sentiment fell sharply and unexpectedly in early July to the lowest level in five months as inflation worries dented confidence in the economic recovery, a survey showed on Friday.
The University of Michigan said its preliminary consumer sentiment index fell to 80.8 in the first half of this month – the lowest since February – from a final reading of 85.5 in June. Economists polled by Reuters had forecast the index would rise to 86.5.
“Consumers’ complaints about rising prices on homes, vehicles, and household durables has reached an all-time record,” Richard Curtin, the survey director, said in a statement.
The survey’s gauge of current economic conditions also fell to a reading of 84.5, the lowest since August 2020, from 88.6 in June. Its measure of consumer expectations slid to 78.4, the lowest since February, from 83.5. The survey’s one-year inflation expectation shot to the highest level since August 2008 at 4.8%, up from 4.2%, while its five-year inflation outlook ticked up to 2.9% from 2.8% in June.” (Reuters)

“Business inventories rose 0.5% after edging up 0.1% in April, the Commerce Department said on Friday. Inventories are a key component of gross domestic product. May’s increase was in line with economists’ expectations.
Inventories increased 4.5% on a year-on-year basis in May. Retail inventories decreased fell 0.8% in May as estimated in an advance report published last month. That followed a 1.7% decrease in April.
Motor vehicle inventories decreased 5.5%, rather than 5.3% as estimated in an advance report published last month. A global semiconductor shortage is undercutting auto production, leading to stocks being run down and prices of used car and trucks soaring, boosting inflation.
Retail inventories excluding autos, which go into the calculation of GDP, increased 0.9% as estimated last month.” (Reuters)


(MarketWatch)

Week Ahead Highlights:
Q2 ’21 Earnings season gains momentum, as 9 DJIA stocks report next week, including IBM, JNJ, VZ, KO, and AXP. 14% of the S&P 500 will report.

Next Week’s US Economic Reports:

(MarketWatch)
Sectors: The defensive Utilities sector led this week, while the Energy sector lagged.

Futures: WTI Crude fell -4.5%, ending at $71.17.

Stock Market News: 7-10-21

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Market Indexes: It was another up week for most of the indexes once again, except for the Russell 2000, which fell -1.23%. In a short week, the market seesawed, as the narrative shifted to fears that economic growth’s pace may have peaked, due to Delta variants which might cause another round of restrictions that would weigh on global economic activity.
The DOW, S&P, and the NASDAQ all closed at record highs.

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Volatility: The VIX rose 7.4% this week, ending the week at $16.18.

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Market Breadth: 14 out of 30 DOW stocks rose this week, vs. 19 last week. 43% of the S&P 500 rose, vs. 70% last week.

FOREX: The US $ fell vs. the Yen, the Swiss Franc, the Pound, and the Euro, and rose vs. the NZ and Aussie $, and the Loonie.

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Economic News: “The yield on 10-year Treasury bonds fell to 1.29% on Thursday, down from a recent high of 1.75% at the end of March and the fourth straight trading day of decline. The closing price of inflation-protected bonds implied expectations of consumer price inflation at 2.25% a year over the coming decade, down from 2.54% in early May.

Moreover, there is a reasonable argument that the economy will be better over the medium term if it experiences moderate growth and low inflation, as opposed to the kind of breakneck growth — paired with shortages and inflation — seen in the last few months.

The Institute for Supply Management’s report this week showed that the service sector was continuing to expand rapidly in June, but considerably less rapidly than it had in May. Anecdotes included in the report supported the idea that supply problems were holding back the pace of expansion.” (NY Times)

(MarketWatch)

Week Ahead Highlights: Core CPI and Consumer Sentiment reports are due out next week, along with June Retail sales, and Industrial Production reports.
Q2 ’21 Earnings season kicks off, with 3 DOW stocks reporting: Goldman Sachs, JPMorgan, and United Health. Several other big banks will report, including Citi, Wells Fargo, USB, Bank of America, and PNC.

Next Week’s US Economic Reports:

(MarketWatch)
Sectors: The Real Estate sector led this week, while the Energy sector lagged. Energy continues to lead all sectors by a wide margin so far in 2021.

Futures: WTI Crude fell -.71%, ending at $74.63.
“Oil prices rose for a second day on Friday as the market reacted to falling U.S. inventories, and signs of strong Asian demand from both China and India added support.
“The market is coming to grips with the historic drop in U.S. oil inventories, and dimmed prospects of Iranian oil returning to the market,” said Phil Flynn, senior analyst at Price Futures Group in Chicago.
Still, prices on both sides of the Atlantic ended the week little changed, despite significant daily fluctuations. Prices were weighed down early in the week by the collapse of output talks between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+.” (Reuters)

Stock Market News: 04-03-21

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Week Ahead Highlights: The Q1 ’21 earnings report season will start in mid-April, with overall S&P 500 earnings are expected to jump 24.2% from a year ago. “One near-term market focus is likely to be whether Congress will pass the infrastructure plan Biden formally introduced this week. Click here to read more…

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Stock Market News: 03-20-21

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Market Indexes: The market pulled back this week, with the Russell small caps falling the most, down -2.85%. Rising Treasury yields, mixed economic data, and falling Crude prices put a damper on investor enthusiasm.
“The yield on the U.S. 10-year Treasury note on Thursday rose above 1.75% for the first time in 14 months after Click here to read more…

Stock Market News: 3-6-21

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Market Indexes: “The S&P 500 surged on Monday and was headed for its biggest one-day gain since June as bond markets calmed after a month-long selloff, while developments on COVID-19 vaccines and fiscal stimulus bolstered expectations of a swift economic recovery. Click here to read more…

Stock Market News 02-06-21

“In the past year, more new investors have opened accounts at brokers than ever before. U.S. brokers added at least 10 million new retail trading accounts, and a shift to zero trading commissions late in 2019 unlocked a wave of activity that dwarfed even the wild days of the dot-com bubble. Click here to read more…

Stock Market News: 12-12-20

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Market Indexes: Three out of four indexes retreated this week, which was positive for only the Russell small caps. Good vaccine news eventually gave way to bad economic news, as Congress continued its stalemate for a new stimulus bill.
“The S&P 500 and the DJIA hit record highs moments after the open on Wednesday, as hopes for a vaccine-linked economic recovery and more domestic fiscal stimulus sparked demand for economically sensitive stocks such as banks and industrials.” (Reuters)  <a href=”http://www.doubledividendstocks.com/attachments/StkMktNews12122020.pdf” target=”_blank” rel=”noopener noreferrer”>Click here to read more… </a>

Stock Market News: 12-05-20

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Market Indexes: The market had another up week, with small caps and the NASDAQ leading the way, gaining over 2% on the week. There’s a wide margin year to date between the NASDAQ, which is up nearly 39%, and the DOW, which is up only 5.89%.   All 4 indexes hit new highs on Friday, for the 1st time since 2018, as news of revived stimulus talks lifted investors’ spirits, in spite of a weak Payrolls report. The COVID vaccine progress continued to lift the markets this week, even as the US faced rapidly increasing virus cases.

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Stock Market News 11-07-20

Futures: WTI rose 4.53% this week, ending at $37.37.
“OPEC’s effort to shore up world oil markets during the pandemic is facing a new threat — from the group’s own rising production. In the past few months, the resurgent coronavirus has increasingly frustrated the cartel’s attempt to defend crude prices through cutting its output. Oil futures have sunk below $40 a barrel in London to their lowest since May.
But a fresh challenge is emerging from within the organization’s own ranks, just weeks before Saudi Arabia and other oil heavyweights meet to to draw up plans for the year ahead.
Click here to read more…

Stock Market News: 10-17-20

“S&P 500 companies slashed or suspended over $40 billion in dividends in the second quarter, the deepest quarterly drop since 2009.” (Dow Jones)
“Second-quarter global dividends plunged by $108 billion, or 22%, as companies scrambled to save cash during the pandemic.” (Reuters)
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Volatility: The VIX rose 9.6% this week, ending at $27.41.
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Stock Market News: 09-26-20


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Market Indexes: It was the 4th straight down week for the market, with only the NASDAQ making a gain. Small caps took it on the chin – the Russell 2000 lagged, falling -4.49%, and continues to trail the other 3 indexes by a wide margin so far in 2020.

“Wall Street’s main indexes hit their lowest in nearly 7 weeks on Monday as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears about another hit to the domestic economy. Click here to read more…

Stock Market News: 09-19-20

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Stock Market News: 9-12-20

“S&P 500 companies slashed or suspended over $40 billion in dividends in the second quarter, the deepest quarterly drop since 2009.” (Dow Jones)

“Second-quarter global dividends plunged by $108 billion, or 22%, as companies scrambled to save cash during the pandemic.” (Reuters)

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Market Indexes: It was a down week for the market, with the Tech-heavy NASDAQ falling -7%, its worst week since March. The Russell 2000 fell -5%, while the DOW held up the best, but still lost -3.45%. A much-awaited fiscal aid package stalled in the Senate.
“Global equity markets and oil prices tumbled Tuesday as a sharp sell-off in technology stocks and rising concerns over the U.K. leaving the European Union without a trade agreement threatened to stall a rally that had pushed world shares near record highs despite the coronavirus pandemic. While many market players were unable to pinpoint a single trigger for the Nasdaq’s plunge, Click here to read more…

Stock Market News: 9-05-20

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Market Indexes: It was a down week for the market, with the major indexes pulling back on Thursday and Friday.
“Wall Street’s main indexes tumbled on Thursday, heading for their worst day since June as investors dumped high-flying technology-focused stocks, while economic data highlighted concerns about a long and difficult recovery. Separately, a survey showed U.S. services industry growth slowed in August, likely as the boost from the reopening of businesses and fiscal stimulus faded.” (Reuters) Click here to read more…

Stock Market News: 08-29-20

“S&P 500 companies slashed or suspended over $40 billion in dividends in the second quarter, the deepest quarterly drop since 2009.” (Dow Jones)
“Second-quarter global dividends plunged by $108 billion, or 22%, as companies scrambled to save cash during the pandemic.” (Reuters)
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Market Indexes: The DOW returned to positive territory for the year this week, as all 4 indexes gained. The NASDAQ led, and continues to lead by a wide margin year to date, propelled by big cap tech.
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8-15-20 Stock Market News

FOREX: The US $ fell vs. most major currencies this week, except for the Yen and the NZ $.. “The dollar dropped on Friday, falling for 8 straight weeks, as investors looked to other currencies whose economies are currently outperforming that of the United States in terms of managing the coronavirus pandemic.”
Click here to read more…

Stock Market News: 8-8-20

Economic News: Claims for jobless benefits have risen for 2 straight weeks. At least 30.2 million Americans were receiving unemployment checks in early July.
“U.S. employment growth slowed considerably in July, underscoring an urgent need for additional government aid as a resurgence of COVID-19 infections threatens to snuff out the nascent economic recovery. Click here to read more…

Stock Market News: 08-01-20

FOREX: The US $ fell vs. major currencies in July, in the wake of continuing government stimulus programs.
“The dollar index =USD was down 4.1% for July, its biggest monthly percentage fall since September 2010, with most of the drop coming in the last 10 days as new coronavirus cases surged across several U.S. states and some recent data pointed to an economic recovery losing steam.” (Reuters) Click here to read more…

Stock Market News: 07-04-20

“S&P 500 companies slashed or suspended over $40 billion in dividends in the second quarter, the deepest quarterly drop since 2009.” (Dow Jones)
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Market Indexes: The market rose this holiday-shortened week, with all 4 indexes making solid gains, spurred on by upbeat economic news. In May, the US economy regained parts of the severe losses it incurred in March and April. The NASDAQ led, but was closely followed by the Russell small caps and the S&P.Click here to read more…

Stock Market News: 06-20-20

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Market Indexes: The market bounced back this week, with all 4 indexes gaining. The NASDAQ led by a wide margin, and remains the only index in the black so far in 2020. Friday was a down day, with worries over an uptick in COVID cases in several states, and Apple announcing the re-closing of several stores. Click here to read more…

Stock Market News: 5-09-20

Market Indexes: The NASDAQ and the Russell small caps surged 6% and 5.8% this week, with the S&P up 3.5% and the DOW up 2.56%, as investors cheered imminent reopening plans for 30 US states in the next few weeks. The indexes were also buoyed by resurgent crude oil prices, as WTI crude gained over 24% this week; and a better-than-expected Chines export figure. Click here to read more…

Stock Market News: 05-02-20

Market Indexes: The market was cruising along for the week, but then reversed on Friday, due to poor earnings reports, and threats of a renewed tariff war coming out of DC. 3 out of 4 indexes were down for the week, with only the Russell small caps in the black.
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Stock Market News – 4-25-20

Market Indexes: 3 out of 4 indexes were down for the week, in spite of the new relief package approved by Congress. Oil went on a roller coaster ride this week, with oversupply pushing prices down temporarily to below zero.
The U.S. Senate on Tuesday approved $484 billion in a fresh relief package, which mainly expands funding for loans to small businesses. Click here to read more…

Stock Market News: 04-18-20

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Market Indexes:
3 out of the 4 major indexes gained again this week, on news of future reopening plans in some US states and in upcoming openings in some European nations. Some progress may have been made on potential vaccines and treatments, which also added to the indexes’ rise. The gains came in spite of gloomy economic data in retail sales, industrial production, housing, and leading economic indicators. The Russell small caps trailed, while the Tech-heavy NASDAQ led by a wide margin, and continues to be the most reilient index so far in 2020.
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Stock Market News: 4-11-20

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Sectors: All sectors had healthy gains this week, with Basic Materials and Financials leading.
Futures: WTI Crude crude fell -18.17% this week, ending at $23.19, as the market showed some disappointment in the size of the announced Saudi/Russian oil production cutback agreement.
Click here to read more…

Stock Market News: 04-04-20

Economic News: “The March jobs report showed that 701,000 Americans lost their jobs last month, far exceeding estimates for around 83,0000. It was the first decline in payrolls since September 2010 and not far from the worst month of job losses during the 2007-09 recession.
The unemployment rate rose to 4.4% from 3.5%, but the unemployment picture is likely…Click here to read more…

Stock Market News: 3-28-20

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Market Breadth: 28 out of 30 DOW stocks rose this week, vs. 0 last week. 93% of the S&P 500 rose, vs. just 5% last week. Market breadth bounced back in a major way.
FOREX: The US $ fell vs. ..
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Stock Market News: 3-14-20

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Market Indexes:
Thursday was the market’s worst day since 1987, with all sectors and assets selling off, including previous safe havens, such as gold and muni’s. “Wall Street clawed back some of the losses on Friday from its biggest declines in three decades, Click here to read more…

Stock Market News: 03-07-20

Market Indexes:
Volatility continued this week in the market, although the Fed’s rate cut inspired a 1-day rally mid-week, which resulted in 3 of the 4 indexes gaining ground for the week. Only the Russell small caps posted a loss.  Adding to the virus-inspired pressures, crude oil fell 10% on Friday, after an OPEC proposal to cut output collapsed.
“The Federal Reserve, in a rare inter-meeting move, on Tuesday cut its benchmark interest rate to counter the threat to the economy from the coronavirus epidemic. The Fed said it cut its fed funds target rate by a half percentage point to a range of 1%-1.25%.
Click here to read more…

Stock Market News: 2-15-20

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Market Indexes: The market is reacting first and foremost to news about the corona virus, even more than to earnings releases and economic reports. This week was an up week, as fears about the virus’s spread appeared to wane, along with perceived economic fallout.
“China’s National Health Commission on Wednesday said 2015 new cases of the disease caused by the new viral infection had been reported over the last 24 hours, declining for a second day. That brought the number of cases in mainland China to 44,653, although experts have warned that a substantial number may have gone uncounted. The commission said there were 97 additional deaths from the virus in the last 24 hours, bringing the mainland total to 1,113.” (MarketWatch)
“Investors are edging back into emerging markets, even though worries about the coronavirus’ impact on global economic growth have clouded prospects for the boom-and-bust asset class. Nearly $730 million flowed back into emerging markets exchange-traded funds (ETFs) in the past week, according to Lipper, after two straight weeks of outflows that accompanied sharp declines in the stocks and currencies of developing countries.  As of Friday, the coronavirus has infected 63,581 people and killed 1,380. Still, investors have grown more hopeful that economic damage will be limited.” (Reuters)

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Stock Market News: 8-24-19

Market Indexes: It was another volatile week for the markets, with Fed chief Powell’s speech falling on negative ears – the market was looking for reassurance of a deep interest rate cut in September, or even a cut announcement at the meeting, but it didn’t happen.
Investors think another interest-rate cut in September is a foregone conclusion, but other Fed officials’ comments indicate that the FOMC rate- setting committee has a difference of opinions on that subject.
Click here to read more…

Stock Market News: 8-10-19

“Late Sunday, China let the yuan breach the key 7-per-dollar level for the first time in more than a decade and announced it was halting its purchases of U.S. agricultural products, halting a global rally which had pushed benchmark indexes in the United States and China up more than 20% for the year to date. Click here to read more…

Stock Market News: 8-3-19

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Market Indexes: It was a rough week for the markets, with the Fed making its predicted .25% rate cut, but indicating this isn’t necessarily the start of a new trend. More tariff rhetoric from DC drew an immediate response from China, which rattled investors. The Payrolls report didn’t disappoint, but wasn’t enough to reverse the market’s decline. Click here to read more…

Stock Market News: 7-20-19

Market Indexes: All 4 market indexes fell this week, with the Russell small caps lagging. Trade worries and heightened tensions in Iran weighed on the market.
“A narrow waterway in the Middle East that marks the most sensitive transportation choke point for global oil supplies remained in focus Friday after Iran’s Islamic Revolutionary Guard said it seized a British-flagged tanker in the Strait of Hormuz, Click here to read more…

Stock Market News: 7-6-19

“Global stocks rallied and bonds retreated on Monday as the United States and China agreed to restart trade talks at the G20 summit over the weekend, leading investors to bet that a breakthrough between the world’s two largest economies would jumpstart global economic growth. The US and China agreed on Saturday to resume trade negotiations after the US offered concessions to China met at the Group of 20 summit in Japan. Those included no new tariffs and an easing of restrictions on tech company Huawei. China agreed to make unspecified new purchases of U.S. farm products and return to the negotiating table.” (Reuters)
Click here to read more…

Stock Market News 6-15-19


“Hong Kong police fired rubber bullets and tear gas at demonstrators who threw plastic bottles on Wednesday as protests against an extradition bill that would allow people to be sent to mainland China for trial descended into violent chaos. Civil Human Rights Front, which organized a protest on Sunday that it estimated saw more than a million people take to the streets in protest against the extradition bill, accused police of using unnecessary violence.” (Reuters)

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Stock Market News 6-8-19

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Markets: Market indexes roared back this week, supported by a Fed chief Powell’s remarks in a speech Tuesday, that were seen as opening the door to a rate cut if the economy slows. The  weak jobs report on Friday morning also added fuel to the fire, sending all 4 indexes up for the week. The DOW led, up 4.71%, followed by the S&P, up 4.41%, the NASDAQ, up 3.88%, and the Russell small caps, up 3.43%:

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Stock Market News: 6-1-19


How is your portfolio handling the volatile market of 2019?
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Markets: Market indexes fell again this week, pressured by ongoing trade war rhetoric, and a surprise expansion of the trade war to include Mexico. This was a dismal May for the market, with the DOW falling -6.69%, the S&P 500 falling -6.58%, the NASDAQ down -7.93%, and the Russell small caps down -7.85%.
Click here to read more…

Stock Market News: 5-25-19

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Markets: Market indexes fell this week, pressured by ongoing trade war rhetoric, and falling oil prices, which posted their biggest weekly drop of the year, due to concerns about rising inventories and worries about the global economy. The DOW held up the best, but still fell -.89%, while the S&P fell -1.17%. The NASDAQ trailed, losing -2.29%, and the Russell small caps lost -1.34%. This was the DOW’s longest weekly losing streak since 2011.
“The United States needs to correct its wrong actions if it wants to continue negotiations with China to end a damaging tariff war, China’s Commerce Ministry said on Thursday, adding that talks should be based on mutual respect…Click here to read more…

Stock Market News: 5-11-19

Markets: This was the market’s worst week of the year, with volatile sessions every day, due to constant trade talk fears, which were exacerbated by rhetoric. The market turned up Friday afternoon, after a comment by Fed member Bostic, who said on Friday that the central bank could cut interest rates if a trade fight begins to hurt to American economy.

The DOW. lost the least, down -2.12%, with the S&P Click here to read more…

Stock Market News: 4-20-19

Markets:  It was a short, but mixed week for the market, with the DOW up .56%, and the S&P 500 slightly down. The RUSSELL trailed again, falling -1.29%, and the NASDAQ had a small .17% gain. The market was held back by lagging healthcare stocks, which fell, after several news stories surfaced detailing future potential overhauls to the US healthcare system.
Click here to read more…

Stock Market News: 4-13-19

Markets: It was a mixed week for the market, with the NASDAQ and the S&P 500 posting good gains. The DOW and RUSSELL trailed. The market was buoyed on Friday by positive earnings report from JPMorgan and PNC; and the unveiling of its pricing for its new streaming service from Disney. Oil also gained this week.
Click here to read more…

Stock Market News: 3-23-19

Economic News: “The Federal Reserve doesn’t see any interest rate hikes coming in 2019.
Patient means that we see no need to rush to judgment,” Fed Chairman Jerome Powell said, adding it could be “some time” before the jobs and inflation outlooks provide a reason to change policy. Treasury yields dropped to the lowest in over a year. Click here to read more…

3-16-19 Stock Market News

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Markets: It was an up week for the market, with the Tech-heavy NASDAQ logging a big 3.78% gain. Indexes logged their best weekly gains in several weeks, and the S&P 500 and Nasdaq finished at their highest levels since early October, as investors focused on progress on China trade talks. Boeing shares, which had slumped over the past 2 weeks, rebounded a bit at the end of the week. The NASDAQ and the Russell small caps lead year to date.
Click here to read more…

STOCK MARKET NEWS: 3-9-19

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Markets: It was a down week for the market, which was blindsided by the unexpected ECB stimulus announcement, and then confronted with a very weak US Payrolls report on Friday. Investors went “risk off”, and sold off small caps – the Russell 2000 lost -3.28%, while the S&P held up the best, losing -1.49%.
“The economy’s remarkably steady job-creation machine sputtered in February and produced a mere 20,000 jobs. It was the smallest gain in well over a year and came on top of other signs that the economy was off to a sluggish start in 2019.” (NY Times)
“The European Central Bank slashed its growth forecasts and surprised everyone with a new round of policy stimulus, leaving investors fearing the worst for the global economy. ECB President Mario Draghi said the economy was in “a period of continued weakness and pervasive uncertainty” as he pushed out a planned rate hike and instead offered banks a new round of cheap loans. The reversal came in the same week that Canada’s central bank took a sudden dovish turn and dismal data from Australia to the UK instilled a sense of foreboding in markets.” (Reuters)

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Stock Market News: 3-2-19

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Markets: It was a mixed week for the market, with the DOW and RUSSELL small caps  flat, the S&P up .39%, and the NASDAQ leading. Investors were buoyed by positive comments from both sides about the US-China trade talks.

Click here to read more…

Stock Market News: 1-19-19

Markets: It was another up week for the market, with investors upbeat on US-China trade talks, and ignoring the government shutdown, which is now the longest one in US history. This was the 3rd straight positive week for the market, and it was broad-based, with all sectors except defensive Utilities rising.

“Major world stock markets climbed on Tuesday..
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Stock Market News: 1-5-19

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Markets: It was a volatile start to 2019, with the market gyrating over the past 3 days, hit by Apple’s downward earnings revision,
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Stock Market News: 12-1-18

Markets: It was an up week for the market, with all 4 indexes posting major gains, as investors were encouraged by Fed chief Powell’s rewording of the Fed’s current rate hike trajectory, and by good online holiday sales figures. Investors also overcame saber rattling chatter from the G20 summit U.S.-China trade talks. With this week’s gains, all 4 indexes returned to positive territory for the year to date.
Click here to read more…

Stock Market News: 11-24-18

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Markets: It was another rough week for the market, with all 4 indexes falling again. For the 2nd week in a row, the Russell small caps held up the best, while the tech-heavy NASDAQ trailed. On Friday, the market closed early, at 1pm, after the Thursday break. Oil prices slipped to their lowest in over a year, dragging down energy shares. Markets were also rattled about the administration’s latest threats to the independence of the Fed.  Meanwhile investors were also jittery ahead of next week’s G20 summit U.S.-China trade talks.


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Stock Market News: 11-17-18



How is your portfolio handling the up and down market of 2018?

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Markets: It was a rough week for the market, with all 4 indexes falling. In a turnaround from recent trends, the Russell small caps held up the best, while the DOW megacaps trailed. Falling crude prices and trade talk confusion gave investors the jitters.

Click here to read more…

Stock Market News: 10-27-18

Markets: It was yet another turbulent week for the market, with all 4 indexes down at least around -3% or more. The DOW held up the best, but still lost -2.97%, while the S&P trailed, losing nearly -4%. Both the DOW and the S&P are now in the red for 2018. The Russell small caps and the NASDAQ both lost ~-3.8%.
Disappointing earnings reports from
WTI rose .52%, finishing the week at $67.62, while Natural Gas fell -.34%.
“Oil prices are pointing lower again, with Saudi credit default swaps rising…Click here to read more…

Stock Market News: 9-15-18

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Markets: It was an up week for the market, as investors took heart earlier in the week from the possibility of further trade talks between the US and China, but the market ended the day nearly flat on Friday, with the US readying more tariffs vs. China. The NASDAQ led the way this week, with Tech stocks getting a bounce. Click here to read more…

Stock Market News: 8-25-18

Markets: It was an up week for the market, as tariff war fears subsided a bit, crude oil rallied, and the Fed struck a moderate tone at its annual conference.
The Russell small caps and the NASDAQ led, while the DOW and S&P 500 also gained.

“Global equity market rose on Friday after Federal Reserve Chairman Jerome Powell expressed no surprises in a key speech..Click here to read more…

Stock Market News: 8-4-18

Markets: It was yet another mixed week for the market, with the DOW flat, and the S&P 500, NASDAQ, and RUSSELL small caps all up. Apple’s robust earnings helped the bulls, but the bears were aided by ongoing tariff troubles. On Friday, the market shook off a tepid jobs report.
“U.S. stocks fell on Thursday, weighed down by financials, as worries of a trade war between the United States and China were heightened after the White House proposed 25% tariffs on $200 billion worth of Chinese imports. The increase is up from a previously proposed 10% duty because China has refused to meet Washington’s demands and has imposed retaliatory tariffs on U.S. goods. Beijing responded to the new threat saying it was ready to escalate the trade war.” Click here to read more…

Stock Market News: 7-21-18


How is your portfolio handling the up and down market of 2018?
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Markets: It was a mixed week for the market, with the DOW, the S&P 500, and the NASDAQ all roughly flat, while the Russell small caps notched a gain. Strong earnings reports from MSFT and other major firms failed to counter investor trade war jitters, which were fueled Friday by another round of rhetoric from the White House, in addition to warnings from US firms about tariffs dampening profits.
Click here to read more…

Stock Market News: 7-14-18

Markets: It was an up week for the market, with investors shaking off trade war developments. Oddly, the Russell small caps fell, lagging the DOW, the S&P 500, and the NASDAQ. The megacap DOW led the way, climbing above the 25,000 level for the 1st time in almost a month, while technology stocks pushed the Nasdaq to a record high.
Click here to read more…

Stock Market News: 7-7-18

Markets: It was an up week for the market, as a good payrolls report on Friday helped investors to shrug off escalating trade war battles.  The Russell small caps led, which makes sense, considering that there are more small US companies which don’t rely on international trade.
U.S. government bond yields fell on Friday to their lowest level since late January, extending their pullback for the week, after the economy added more jobs than forecasted in June. Yields fall when bond prices rise. Click here to read more…

STOCK MARKET NEWS: 6-9-18

Markets: It was a big up week for the market, with solid gains across the board. The DOW bounced back from last week’s loss, logging its best week since March, to lead all 4 indexes. Investors shrugged off global trade tensions, and focused on better earnings – Wall Street estimates 2018 earnings growth of 22.2%, according to Thomson Reuters. A retreat by the $ also perked up Basic Materials stocks – the sector was up 2.98% this week.
Click here to read more…

STOCK MARKET NEWS: 6-2-18

How is your portfolio handling the up and down market of 2018?

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Markets: It was a mixed week for the market. The DOW was down, but the S&P, NASDAQ, and Russell small caps all gained. The NASDAQ led again, with a 1.62% gain. The market rallied Friday, led by bank stocks as a stronger-than-expected jobs report for May reinforced expectations of a June interest rate hike by the Fed.
On Thursday, the US imposed steel and aluminum tariffs on the country’s top allies, the EU, Canada, and Mexico. The tariffs will be 25% on steel and 10% on aluminum. Canada, Mexico and the EU made up 50% of US steel imports in 2017.
Stocks plunged Thursday after Canadian Prime Minister Justin Trudeau announced steel and aluminum tariffs against the US. The EU announced tariffs on Harley Davidson, and Mexico also said it would retaliate.

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Stock Market News – 5-26-18

Markets: It was a flat week for the DOW; the S&P was up a bit, and the Russell small caps trailed. The NASDAQ led, with a 1.08% gain.  Crude oil fell on Friday, due to OPEC talk of raising production levels. N. Korea tensions arose again, as talks were cancelled.

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Volatility: The VIX was down 1.9% this week, ending the week at $13.17.
“The Fed will consider a proposal to modify the “Volcker Rule” banning proprietary trading by banks at a May 30 meeting of its board, the central bank announced Wednesday.
Federal regulators are expected to announce…Click here to read more…

Stock Market News: 5/19/18

Markets: It was a down week for the DOW, S&P and the NASDAQ, with only the Russell small caps up this week. Wall Street slipped on Friday, weighed down by financials and as Alphabet and Applied Materials led technology stocks lower, although losses were limited as industrial shares gained on signs of progress in Sino-U.S. trade talks.
News:  Retail Sales ex-Autos were below forecasts for April, rising 0.3%, vs. the 0.5% forecast. Housing Starts were ~ in line with forecasts.  The Empire State Index rose 20.1% in May, vs. 15.8% in April.
“HSBC Holdings said on Monday it has performed the world’s first trade finance transaction using a single blockchain platform…Click here to read more…

Stock Market News: 5/12/18

“The U.S. stock market has seen volatility rear up in 2018, with major indexes experiencing wild swings on a nearly daily basis. There have been a number of causes often cited for the recent bout of turbulence, including concerns over inflation, geopolitical uncertainty, and the first-quarter earnings season, but one of Wall Street’s most prominent investment banks fingers one key culprit: Main Street.
Citing both their outsize ownership of stocks and a surge in recent trading activity, Goldman attributed the recent whipsawing trading in the equity market to…
Click here to read more…

Stock Market News: 5/5/18

Markets: It was a mixed week – with all 4 indexes saved from weekly losses by Friday’s big rally, powered by positive news about Warren Buffet’s bigger stake in Apple. The DOW and the S&P finished the week slightly down, while the NASDAQ led all 4 indexes, followed by the Russell 2000.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

Stock Market News: 4/28/18

How is your portfolio handling the up and down market of 2018?

Click here to learn how Selling Options can take advantage of higher Volatility, giving you more downside protection and more income.

Markets: It was an flat-to-down week for the market, with 3 out of 4 indexes posting losses, and the S&P flat. It was an “Earnings vs. Higher Rates” showdown, and rate fears appear to have won this week. The Fed funds futures market shows a nearly 50% chance that the Fed will also raise its rate in December, for a total of 4 rate hikes in 2018. This is up from 33% a month ago.

“The bond market had to .. Click here to read more…

Stock Market News: 4/21/18

How is your portfolio handling the up and down market of 2018?

Click here to learn how Selling Options can take advantage of higher Volatility, giving you more downside protection and more income.

Markets: It was an up week for the market, with all 4 indexes posting gains, led by the Russell small caps. The week ended on a down day, though, investors grew leery of rising bond yields and rising inflation. The 10-Year Treasury note rose to 2.956% on Friday, the highest since January 2014. Stocks have been more sensitive to bond prices recently, as the 10-year yield approaches 3%. Click here to read more…

Stock Market News: 4/14/18

Markets: It was an up week for the market, with all 4 indexes posting strong gains, as the market turned in its best performance in a month. Trade war fears ebbed, but investors were unimpressed on Friday by good major bank earnings reports, sending the market down in late trading. Even though JPM, C, and WFC beat earnings estimates, investors were expecting more, due to the anticipated benefits from the tax cut bill. These 3 banks fell from -1.5% to 3.4% on Friday.

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Stock Market News: 4/7/18

Markets: It was a down week for the market, with all 4 indexes falling, as investors reacted to tariffs from China, a disappointing March Non-Farm Payrolls report, and a rate-hawkish speech from new Fed chief Powell on Friday. The DOW, S&P, and the RUSSELL small caps are in the red so far in 2018, with the NASDAQ being the only index still in positive territory year-to-date, (but barely).
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Stock Market News: 3-24-18


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Markets: It was another rough week for the market, with all 4 indexes falling by large percentages, as DC tariffs on Chinese goods and China’s response spooked investors. The Russell 2000 held up the best, but still lost -4.91%. The DOW lost -5.67% and the S&P 500 lost -5.95%, and are now both negative for 2018. The only index in positive territory year to date is the NASDAQ.
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Stock Market News: 3/10/18


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Markets: It was a big up week for the market, with all the DOW and S&P 500 indexes rising over 3%, and the NASDAQ & Russell 2000 rising over 4%. Half of the week’s gains for the DOW and the S&P came on Friday, buoyed by a strong Non-Farm Payrolls Report.
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Stock Market News – 2/17/18

Click here to learn how Selling Options can take advantage of higher Volatility, giving you more downside protection and more income.

Markets: The market bounced back this week, with all 4 indexes making big gains, and recapturing half of the gains from the pullback earlier in the month. It was the market’s best week in over 5 years. Click here to read more…

STOCK MARKET NEWS: 1-13-18

Markets: It was another big week, with all 4 indexes up again, and hitting new highs. All main stock benchmarks closed at records on Tuesday with the S&P 500 notching 6 straight records to kick off a new year, something it has not done since 1964. The Dow and the S&P had the best start to the calendar year since 2003.
“Whenever the benchmark index has risen at least 2% in the first five trading sessions of the year in the past, it has ended in positive territory for the whole year 100% of the time. The average return in those years? Click here to read more…

Stock Market News: 1-6-18

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Markets: It was a big week to start the year, with gains across multiple sectors, with the NASDAQ surging over 3%, the S&P and DOW up over 2%, and the Russell small caps up 1.5%.
“The Dow Jones Industrial Average gained 25% last year, marking the 10th time since 1950 that it scored an annual advance of that magnitude or more. What typically has happened after such banner years? The Dow has been higher in the next year on eight occasions posting a double-digit percentage rise six times. Click here to read more…

Stock Market News: 12/30/17

Markets: It was a down week, with typical year end light volume- with all 4 indexes losing ground for the week.The NASDAQ led in 2017, followed byThe DOW and the S&P 500, and the Russell Small Caps lagged. The DOW hit new highs 71 times in 2017.

However, looking back for the past 10 years, the DOW is just 75% above its October 2007 highs, which gives it a yearly avg. gain of ~7.5% over the past decade. The S&P 500 has a very similar 10-year avg., at 7.08%, while the NASDAQ clearly outperformed, rising 141% above its October 2007 highs, a 10-year avg. of 14.14%:


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Stock Market News: 12-23-17

Markets: It was a mixed week again- with 3 out of 4 indexes gaining for the week and hitting record highs, as the Tax Bill was passed. The DOW and the S&P led, and the NASDAQ gained, but the Russell Small Caps actually lost ground again this week.

“The Dow Jones Industrial avg. did something on Monday, it has never done in its 121-year history. The 30-stock average is now up more than 5,000 points in a year, marking its biggest annual-points gain ever. This following a 200-point rally Monday which sent it to an all-time high. Most of the big point moves are in recent years for an obvious reason: the Dow is much bigger than it was decades ago. So investors should keep this point move in perspective. Click here to read more…

STOCK MARKET NEWS: 12/16/17

Markets: It was a mixed week again- with 3 out of 4 indexes gaining for the week and closing at record highs on Friday, as the Tax Bill advanced further through the legislative process. The DOW and the S&P led, and the NASDAQ gained, but the Russell Small Caps actually lost .92%.
Quadruple witching, the simultaneous expiration of U.S. options and futures contracts for stocks and indexes, boosted volume to 10.7 billion shares, well above the 6.73 billion average over the last 20 trading days, and the highest since a year ago.
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Stock Market News: 12/9/17


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Markets: It was a mixed week- with the DOW and the S&P gaining, and the NASDAQ and the Russell Small Caps trailing.

“The European Union and Japan have agreed terms for a free trade deal set to create the world’s biggest open economic area.The deal – the largest struck by the EU – is expected to liberalize almost all trade between the bloc and the world’s third-largest economy. It must now be ratified by EU members and the European Parliament.

Japan has a population of about 127 million people and is Europe’s seventh-biggest export market. One of the biggest EU exports to Japan is dairy goods, as the Asian nation’s appetite for milk and milk-based products continues to rise. Meanwhile, cars are one of Japan’s biggest exports to the 27-nation bloc.” (Source: MarketWatch) Click here to read more…

STOCK MARKET NEWS: 12/2/17

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Markets: It was a mixed week for the market, with 3 out of 4 indexes gaining, but the Tech-heavy NASDAQ losing ground. However, all 4 indexes hit new all-time highs, spurred on by Tax cut hopes and OPEC support. Oil prices were helped by OPEC, which announced on Thursday that it has agreed, along with its non-member allies, to extend its oil production-cut agreement to the end of 2018. The agreement lengthens the cuts by another nine months. Click here to read more…

Stock Market News – 11-25-17


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Markets: It was a shortened, but up week for the market, helped by rising Crude Oil prices, with all 4 indexes hitting new highs. WTI Crude Oil futures are up 9.8% in 2017, and have risen in 6 of the past 7 weeks. The spread between WTI and Brent crude has been closing – WTI gained 4% and Brent futures, the international benchmark, marked a 1.8% climb.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

Stock Market News – 11/18/17

Markets: It was a split market this week, with the DOW and the S&P down, and the NASDAQ and small caps rising, as investors continued to worry about the future of promised corporate tax cuts. Stocks had their best day since Sept. on Thursday, after passage of the House tax bill.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week:
Click here to read more…

Stock Market News – 11/11/17

Markets: The market fell this week, with all 4 indexes down, and the small caps lagging, as investors worried about the future of promised corporate tax cuts following dueling plans unveiled by Republican lawmakers.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: WKLP, ARR, CLCT, CORR, EVA, LKSD, OAKS, SBRA, SXCP, TNH, APAM, RDSB, UTG.
Click here to read more…

Stock Market News – 11/04/17

Markets: The market rallied once again this week, with the S&P 500, and DOW hitting new highs, and the NASDAQ rallying as well, but, once again, Small caps didn’t join the party, and were down -.79% for the week.

October was a big month for the market, which saw the DOW rise over 4%, the S&P gain 2.2%; the NASDAQ up 3.6%; and small caps gain .73%:

Futures: WTI Crude futures rose 10.5% in October, natural gas also gained 3.4%.
World stock markets notched up a fresh record high on Wednesday, powered by a 3% jump in basic resources shares after oil prices hit their highest since mid-2015. Click here to read more…

STOCK MARKET NEWS: 10-7-17

Markets: The market rallied again this week, with the DOW, the S&P, and the Russell 2000 all making new all-time highs, as hopes were rekindled for tax cuts/reform. The S&P 500 rose 1.2%, hitting a sixth consecutive record high before falling on the final day. At 19 times forecast earnings, the index trades near the highest valuation since the dot-com era.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: CIO,PMT,ARR,OAKS,SBR.
Click here to read more…

Stock Market News: 9-30-17


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Markets: The market rallied this week, with the DOW, the S&P, and theRussell 2000 all making new all-time highs. The RUSSELL small caps went gangbusters in Sept., gaining over 6% in 1 month. The DOW and S&P both added ~ 2% for the month.

“For the first time in over three years, each of the three major Dow stock market averages has just hit a new all-time high the Dow Jones Industrial Average, Dow Jones Transportation Average, and Dow Jones Utility Average. This development is rare: Its happened in fewer than 4% of the months since 1970. But here’s the even better news: Never have any of these prior events occurred at a bull market top. The least bullish of any prior occurrences (which came in the spring of 2007) still came five months before a top”.

“To be sure, investors usually don’t pay much attention to the Dow utilities. Most of us focus just on the Dow industrials. And among those who focus on Dow averages beyond the Dow industrials, most focus on just the Dow transports. That’s because of the famous Dow Theory, the oldest market timing system that remains in widespread use today, which holds that joint new highs of both averages is confirmation that were in a bull market.”(Source: MarketWatch)

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

Stock Market News: 9-9-17

Markets: The market fell this week, with the YTD-leading NASDAQ pulling back -1.17%, as investors pulled back over geopolitical tensions and hurricane-related damage concerns. All 4 indexes fell, with the small caps being the most resilient.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

STOCK MARKET NEWS: 9-2-17


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Markets: It was a big up week for the market, with the NASDAQ and the RUSSELL small caps leading, aided by an upward revision to Q2 GDP, and a lack of hawkish Fed sentiments at last weekend’s Jackson Hole conference. Even a weak Payrolls report couldn’t hold stocks back on Friday.
Click here to read more…

STOCK MARKET NEWS – 8/26/17

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Markets: The market eked out a gain and stopped its 2-week skid, aided Friday by no rate hike comments by Fed Chief Yellen at her Jackson Hole speech.

The RUSSELL flip-flopped, and led this week, although they’re still down -3.27% for the month. The S&P, DOW and NASDAQ all had similar gains. The S&P is still within 1.5% of its all time highs.
Click here to read more…

Stock Market News – 8/19/17


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Markets: The market fell for the 2nd straight week, with Thursday being the biggest loss in 3 months. Investors are growing more skeptical about any tax reform plans getting done in 2018. Ongoing political instability in the administration, which had to dissolve several business councils this week, after CEO’s walked, continues to shake investor confidence.
Click here to read more…

Stock Market News – 8/5/17


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Markets: The DOW advanced .92% this week, hitting more record highs, and exceeding the 22,000 level for the 1st time ever.  The S&P had a minor gain, while was flat, and the RUSSELL small caps trailed again.
The DOW was powered by Apple, JNJ, Exxon, and JPMorgan, all among the top 5 in market cap for the index.
Click here to read more…

Stock Market News: 7/22/17

Markets: Another week of all-time highs for the DOW, S&P, NASDAQ, and the RUSSELL 2000, fueled by rising Crude prices through most of the week, as WTI Crude hit an 8-week high mid-week. It was the 3rd straight week of a drop in US oil supplies.

Energy prices hit a snag, though, on Friday, due to a report which said that OPEC production was rising. OPEC’s July oil supply was set to rise by 145,000 barrels per day  compared to June, according to tanker-tracking firm PetroLogistics.


Click here to read more…

Stock Market News: 7/15/17

Markets: The market had strong gains this week, spurred on by Fed chief Yellen’s dovish interest rate comments before Congress in mid-week. The S&P and DOW hit new all-time closing highs on Friday, helped by rising Crude prices, which were up this week, due to reports of a setback for Nigerian crude supplies and a recent forecast for higher oil demand this year.

Shares of JP Morgan, Citigroup, and Wells Fargo were down, despite reporting quarterly profits that beat analysts’ expectations, as investors saw limited advantages for the big banks from the prospect of fewer rate hikes.  Tech came roaring back, pushing the NASDAQ up 2.8% on the week.


Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: CODI, HRZN, SUNS, CPTA, GAIN, GLAD, GOOD, HPT, SNH, SIR.
Click here to read more…

Stock Market Bulletin: 7/8/17


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Markets: The market were saved by the bullish payrolls report this week, barrelling out of a deficit with big gains on Friday. Only the Russell small caps posted a weekly loss.
The struggling Tech sector, (the most-heavily weighted sector on the S&P 500), held on to make a modest gain this week, which saw Crude futures fall -3.8%.


Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week:
Click here to read more…

Stock Market Bulletin: 7/1/17

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Markets: The market hit a rough patch this week, with the NASDAQ falling 1.99%, the S&P 500 down .61%, the DOW off by .21%, and the RUSSELL small caps flat. Small caps led in June, up 3.37%, followed by the DOW, which rose 1.62%; the S&P was up .48% in June with the Tech-heavy NASDAQ trailing, down -.94%, as investors rotated out of Tech stocks.

Click here to read more…

Stock Market News: 6/17/17

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Markets: The market was split again this week, with the RUSSELL small caps and the NASDAQ lagging, the S&P flat, and the DOW rising.Tech stocks continue to fall, as investors took profits.
Amazon shocked the food world by bidding $42/share to buy out Whole Foods. Barclays now thinks that this may spark a bidding war, as retail grocery competitors place rival bids. (For more info on Whole Foods, (WFM), see the latest article on our Dividend Stocks Blog, which came out the day before the Amazon deal was announced.
Click here to read more…

Stock Market News: 6/10/17


Markets: The market was split this week, with the DOW, S&P and NASDAQ hitting new all-time highs again, in spite of the DC Comey drama, and an adverse UK election result. However, the S&P and NASDAQ fell for the week, while the RUSSELL small caps and the DOW rose. Tech stocks had a big intra-day pullback on Friday, with many dropping over -4%
Click here to read more…

Stock Market News: 5/27/17

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Markets: The market rose this week, with the S&P and NASDAQ hitting new all-time highs. On Friday, trading volume was the lowest of the year. Equity prices have risen on stronger-than-expected Q1 earnings, which grew 15% for S&P 500 companies.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

Stock Market News: 5/20/17

Why pay more and get less, when you can pay less and get more?

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Markets: The market fell this week, reacting to more uncertainty in DC, and a scandal in Brazil. The market fell over 1% on Wednesday, for only the 2nd time in 2017, as the promise of tax reform seemed to fade further into the future.
The Russell Small Caps Index trailed, and even the NASDAQ pulled back.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

June Price Hike – DoubleDividendStocks

After 8 years+ of not raising our subscription prices, they’ll be going up on June 1, 2017. However, you can still lock in our old prices, by subscribing before then.
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Consider all of the unique features you’ll get with our service:
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Monthly issues of The Double Dividend Stock Alert, which has:
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5.Performance of expiring calls and puts
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Each issue runs approx. 15-28 pages, and is published on the evening or weekend after the last trading day of the month.
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Unlike other newsletter services, which merely publish a monthly newsletter,
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We hope you’ll join us, and get in on the “right side of the trade”. Thanks for reading!

Stock Market News: 5/13/17

Markets: The market fell this week, reacting to an uncertain US political environment, after the firing of FBI director Comey. Brick & Mortar Retail stocks slid, led down by JC Penney, which reported mixed results. Retail Sales rose .4% in April, below the .4% forecast.
The NASDAQ was the sole gainer, and leads the other indexes by a wide margin year-to-date, buoyed by resurgent Tech firms.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: GLAD, GOOD, GAIN, HRZN, MAT, NAT, CPTA.
Click here to read more…

Stock Market News: 5/6/17

Markets: The market rose this week, led again by the NASDAQ, which closed at another all-time high. Friday’s positive Non-Farm Payrolls report spurred the market on, capturing most of the indexes’ gains for the week.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: APU, AHC, AJX, ARR, NEWM, ECC.
Click here to read more…

Stock Market News: 4/22/17

Markets: The market had a topsy turvy week – up 2 days, down 3, but broke its 2-week slump with an up week. Investor tax reform enthusiasm faded on Friday, in the face of worries over this weekend’s elections in France.
Small Caps led this week, regaining some of their luster, and the NASDAQ hit a new all-time high on Thursday.
Barrons reported today that “the 10 largest stocks in the S&P 500 accounted for 39% of the market’s gains during the first quarter of the year, according to Birinyi Associates data.Investors have flocked to bonds—sending yields on 10-year Treasuries to the lowest levels since the election—and to gold, which is up 12% this year.
S&P 500 companies are reporting an 11% rise in first-quarter profits, the headiest showing in years, thanks to the big year-over-year jump in energy prices”. (Source: Barrons)

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Click here to read more…

Stock Market News: 4/15/17

Markets: The market fell in this holiday-shortened week, for the 2nd week in a row, hampered by geopolitical worries. Financials fell, in spite of upbeat earnings reports by big banks JP Morgan Chase and Citigroup.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: ABB, E, MAIN, HCAP.
Click here to read more…

Stock Market News 3-25-17

Markets: The market fell this week, in the wake of the GOP failing to pass its revised healthcare bill to replace the Affordable Care Act. This was the market’s worst week of 2017, with the S&P falling over 1.4%. Small caps fared even worse, falling 2.87%.
The Congressional Budget Office estimates that the GOP’s new health care bill would have taken away health coverage for 24 million Americans. The revised bill would have reduced the U.S. deficit by only $150 billion over 10 years, whereas the original bill aimed to reduce the deficit by $337 billion.
Political observers are now saying that HHA head Tom Price, a long-time opponent of the ACA, may use his agency’s powers to sabotage and undermine the ACA.
Next on the DC agenda will be Tax reform, which may have a better chance of passing, before the August summer break. The campaign promise was for a 15% corporate tax rate, but that counted on savings from the defunct healthcare bill, so now observers are pointing to a rate in the 25 -30% range.
Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week:
Click here to read more…

Stock Market News: 3/18/17

Markets: The market reverted to “risk on” this week, with small caps and the NASDAQ leading, after the Federal Reserve disappointed traders this week with its failure to make more aggressive forecasts for rate increases.  Financials, which are thought to benefit from higher rates, lagged all other sectors, due to lower inflation expectations shown in a Consumer survey. This was the markets’ 7th gain in 8 weeks.
Click here to read more…

Stock Market News: 3-11-17

Markets: The market pulled back this week, as investors grew cautious ahead of next week’s Fed meeting, at which there will probably be a 25 basis point rate hike announced. Small Caps lagged, falling nearly -2%, while the market-leading NASDAQ merely slipped -.15%.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week:
Click here to read more…

Stock Market News: 3-4-17

Markets: The market hit record highs again this week, with the S&P 500 gaining for the 6th straight week. Fed Chief Yellen’s speech on Friday indicated a strong likelihood of a rate hike when the Fed meets in mid-March.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: BGL, GM, OXY, PPL, TU, GLPI.
Click here to read more…

Stock Market News: 02-25-17

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Markets: The market had good gains for the week again, with the Dow capping an 11-day winning streak – its longest since 1987. The S&P 500 ended at right around an all-time high on Friday, and hit its 11th all-time high this week. It continues to trade in a tight 1% range, the tightest in 40 years. Investors got defensive, shunning small caps, and leaving the NASDAQ up only slightly.

Q4 earnings season update:  Over 400 companies have reported earnings, with 74% beating profit targets and 53% beating revenue marks. “Results beat expectations for the 31st consecutive quarter”, according to Barclay’s.

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: EFC, NYLD, NNA.
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Stock Market News: 2/18/17

Markets: The market had good gains for the week again, with the Dow, S&P 500 and NASDAQ all hitting all-time highs once again, in spite of Fed Chief Yellen’s testimony to Congress, that the Fed may possibly raise rates in March. Banks had another good week, with the promise of higher rates, and political jawboning about rolling back Dodd-Frank pushed big bank stocks higher.

The zeigeist has shifted in 2017 – over the past few years, any talk of a rate hike would send markets down. In 2017, however, the market sees this as constructive for banks. Of course, the talk about easing financial regulations is very supportive of banks as well.

But wait a minute, weren’t those regulations passed to protect US consumers and the US economy from the reckless behavior of banks, which threw the US into the Great Recession? Yes they were, but investors seem to have forgotten the reason that these regulations were passed.

The rationale for rolling back bank regulations that’s being offered up by the current regime is specious – insisting that “banks aren’t lending to business” is totally incorrect. While some banking regulations may be dampening small community banks profitability, there’s absolutely no proof that big banks aren’t lending to businesses.

Want proof? Click here to read more…

Stock Market News: 2/11/17

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Markets: The market had good gains for the week, with the Dow, S&P 500 and NASDAQ all hitting all-time highs, with big banks getting a boost from promises of future deregulation

Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week:
Click here to read more…