About half the S&P 500 companies have reported first-quarter results last week. Approximately 80% of those companies reporting results surpassed analysts’ earnings estimates, better than the 74% four-quarter average. And earnings outperformance was substantial, with companies surpassing average estimates by 9.4%, above the average of 5.1%, according to FactSet data. For the week, however, the…
Market jitters cooled yesterday with the major averages in rally mode. The Dow rose nearly 240 points or .99% to 24,322 and the S&P 500 was up 27.54 points or 1.04% to 2,666. The Nasdaq outperformed, rallying 115 points or 1.64% on the heels of better than expected tech sector earnings. But even with a…
After a nearly 200 point drop on the Dow Jones Industrial Average yesterday, the index managed to close higher, ahead of key tech earnings due out after the close. The Dow and S&P 500 finished to the upside by roughly .2% while the Nasdaq finished the session flat or down .05% on the day. Nonetheless…
If you hadn’t heard it by now, the 10-yr. Treasury note achieved a 3% yield during yesterday’s trading session. The move spooked investors, even as most economists, analysts and investors expected to achieve the watermark level and somewhat higher in 2018. With a 3% 10-yr. being achieved investors assumed a risk-off sentiment, sending the major…
It was a topsy-turvy trading session yesterday with the Dow giving up more than 120 points during the trading session before finishing nearly flat. The Dow ended 14.25 points, or less than 0.1%, lower at 24,448.69, closing with losses for a fourth straight session. The S&P 500 index closed virtually unchanged at 2,670.29. The Nasdaq Composite Index…
The prior week for equity investors and the major averages was shaping up to be a strong week, that is, until the markets hit a wall. The latter trading days, Thursday and Friday, found a lack of buyers and more selling pressure, which ultimately drove the S&P 500 below its 50-DMA once again and in…
I don’t usually execute these types of articles anymore, but sometimes it’s necessary or pertinent to do so. Friday was a strange day for me and as such, you’re gonna hear about it! The major averages fell sharply on Friday as bond yields climbed further, ending the week near the highs. The benchmark 10-year Treasury…
All three major averages fell in the Thursday trading session as bond yields were on the rise. The 10-year Treasury yield trended higher and tipped over 2.92% in yesterday’s trading session, which stirred up anxiety amongst investors once again. The Dow Jones Industrial Average fell 0.3% to 24,665.89. The S&P 500 lost 0.6% to 2,693.13. Both…
The markets were a rather tranquil place yesterday, which hasn’t likely been stated for much of 2018 and in more than 2 months. But indeed it was with all 3 major averages finishing with less than a .5% move on the day and the VIX below 16. The S&P 500 index advanced about 2.25 points,…
U.S. equities have been in rally mode and the VIX is providing confirmation. That doesn’t make any sense now does it? Seeing how the VIX is completely reactionary it should be an example of equities/major averages/dog wagging the VIX/tail. Nonetheless as the major averages have been responding favorably to the early innings of earnings season,…
