Daily Market Updates

February 3, 2016

US stocks attempted a massive comeback today as oil prices surged.  In economic news, the ISM non-manufacturing index January reading came in at 53.5, below expectations and the lowest reading since December 2013 which contributed to the initial declines on the Dow of 180 points.  A surge 8% higher in oil after US inventories reportedly rose by 7.8 million barrels last week also weighed on investors early on but the markets were… Read More ›

February 2, 2016

US stocks traded sharply lower today as oil prices fell, unwinding last week’s rally as hopes of an output cut deal faded.  The sharp drop in oil took its toll on the markets and investors chose to lock in some of the gains seen from the last week’s rally.  At the end of the day, the major averages closed in the red across the board: DOW  -295 at 16153 SP500   -36 at 1903… Read More ›

February 1, 2016

Despite a 6% drop in U.S. crude oil and the release of soft economic data from China overnight, stocks finished the day mixed thanks to a climb by Facebook and Alphabet. The Chinese Shanghai Composite index closed down 1.8% after the country’s official PMI index came in at 49.4 for January.  In U.S. economic news, personal income data showed a .3% increase in December, consumer spending was unchanged, and November personal spending… Read More ›

January 29, 2016

U.S. Stocks rose by more than 2% Friday, the last day of trade for January, after the Bank of Japan unexpectedly adopted a negative interest rate policy for the first time. Encouraging earnings reports, a better-than-expected Chicago PMI report and some stabilization in oil prices helped push equities higher.  In U.S. economic news, the advance read on the fourth-quarter GDP showed an increase of .7%, in-line with expectations.  At the close, Dow… Read More ›

January 28, 2016

The markets rebounded today after yesterday’s selloff that following the Fed’s decision to leave rates unchanged for now but didn’t rule out future rate increases by March.  Investors didn’t like the Fed statement yesterday but that selloff was met with buyers today on solid earnings and higher oil.  At the end of the day, the Dow closed in triple digits and all three major indices closed in the green: DOW  +125 at 16069… Read More ›