The holiday-shortened week proved to be a rough one for traders and investors alike. By the time the dust settled today, the Dow Jones Industrial Average (DIA – 13,113.5) had shed 250 points, or 1.87%, to close below both its 10-day and 20-day moving averages for the first time since August 28. Of its 30 components, only Johnson & Johnson (JNJ) managed to lock in a gain on the session. For the week, the Dow stumbled 1.83% lower. The broad market was soundly smacked lower on Friday following the release […]

Asian stock markets closed higher today with the Nikkei up by +0.32%, Hong Kong up +2.86%, China closing +0.49% and Australia closing +1.59%. The European stock markets are higher this morning with the European DJ Stoxx 50 up +0.15%. This week’s US economic schedule is fairly busy and caps off with Fed Chairman Bernanke’s speech on Friday at the annual Fed symposium in Jackson Hole, Wyoming. The markets will be hoping for some further analysis from Mr. Bernanke of the recent banking crisis and further hints on the Fed’s current […]

NEW YORK – Stocks fluctuated in early trading Monday following a sharp pullback Friday brought by concerns about the credit market and ahead of the Federal Reserve’s meeting Tuesday. Wall Street is looking for signs of encouragement after the fractious trading of the past two weeks. In a day devoid of economic news and with few earnings reports, investors are likely to remain cautious, especially with the Fed’s meeting on interest rates slated for Tuesday. Policy makers are widely expected to hold the benchmark rate steady at 5.25 percent; as […]

U. S. Stocks-September S&P’s this morning are trading -0.20 points as the market treads water following yesterday’s sharp rally. The stock market is awaiting today’s retail sales and consumer confidence reports for a better fix on consumer spending. The US stock market yesterday rallied very sharply and the Dow posting a record high and the S&P 500 posting a new 7-1/4 year high (Dow +2.09%, S&P 500 +1.91%, Nasdaq Composite +1.88%). Bullish factors yesterday included better than expected sales from Wal-Mart, a new record in US exports, and hopes for […]