Oil prices rose Wednesday after the government reported a surprising decrease in gasoline stockpiles, implying improvements in demand. Crude for November delivery rose $2.90, or 4.4%, to $69.61 a barrel. OIH is an Oil ETF that shows how swiftly Oil rebounded today off it’s support level in black. The decline in gasoline demand in last ...…
A surprise drop in a key regional economic indicator sent stocks reeling Wednesday, with the Dow Jones industrials tumbling more than 100 points. The Chicago Purchasing Managers Index fell to 46.1 in September rather than rising to the 52 that economists expected. The index, considered a precursor to the national Institute for Supply Management index ...…
The worst U.S. recession since the Great Depression eased more than anticipated in the second quarter, setting the stage for a recovery to take hold in the last half of 2009. The world’s largest economy shrank at a 0.7 percent annual rate from April through June, the best performance in more than a year, revised ...…
The U.S. dollar rose from an eight-month low against the yen Tuesday after Japan’s finance minister said the government might take action if currency moves were irregular. The dollar also advanced against the euro, hitting a two-week high after a report showed U.S. consumer confidence fell unexpectedly in September and as traders said the dollar’s ...…
A year ago today on Sept. 29, the Dow Jones industrial average suffered its worst point drop in history, plummeting nearly 778 points, after the House of Representatives rejected the first draft of the $700 billion financial rescue plan. The S&P 500 and Nasdaq each plunged about 9% that day. Of course, the controversial Troubled ...…
The US Dollar surged higher to start the trading week as stocks sold off across Asian exchanges, boosting demand for the safety-linked currency. The British Pound bore the brunt of the greenback’s assault as risk aversion compounded last week’s dovish rhetoric from the Bank of England. Key Overnight Developments • Pound Tumbles Despite BOE Backtracking ...…
Crude Oil dipped toward $66.50 a barrel on Tuesday as a weak demand outlook was expected to be reinforced by weekly inventory data from the United States. As we continue to say, Oil and the Dollar remain the key to the equity markets right now. U.S. crude futures fell 29 cents to $66.55 a barrel ...…
The housing market, a source of so many of the country’s economic problems, caused more headaches for Wall Street on Thursday. Stocks fell after a real estate group reported that sales of existing homes dropped 2.7 percent in August. The figures disappointed economists and investors, who had been expecting a fifth consecutive month of gains. ...…
According to the Shared National Credit Program (SNC) 2009 Review, an annual inter-agency report released on Thursday, credit quality deteriorated to record levels with respect to large loans and loan commitments. The Shared National Credit Program which was set up in 1977 to review large syndicated loans now reviews and classifies all institutional loans of ...…
AAPLE STOCK LOOKS VERY BEARISH – Seems like the run up in Apple stock has gone a little big over-board. Now don’t go sending us hate emails Apple fans out there (we are one too!) but let’s face it, the stock is due for a major pull-back here. Notice the breakouts of the major trendlines ...…
Oil prices dropped nearly 4 percent on Thursday to $66 a barrel as weak U.S. home sales data and high U.S. crude inventories stirred doubts about a potential fuel demand recovery. U.S. crude fell $2.62 to $66.35 a barrel by 12:25 p.m. p.m. London Brent crude fell $2.49 to $65.50 a barrel. Commercial stockpiles of ...…
The Bond Market came under pressure after a report said initial claims for jobless benefits fell to the lowest level since July earlier this morning. Naturally the futures were trading higher into the open but still well below yesterday’s levels after the FED sell-off. Yields on 2-year notes rose 1 basis point, or 0.01%, to 0.97%. ...…
U.S. stocks rose on Wednesday as the Federal Reserve said economic activity has picked up following a severe downturn, an assessment that suggested the outlook for corporate profits was brightening. As expected, the Fed’s policy-setters kept interest rates unchanged and said they will stay very low for an extended period. “Their statement was a little ...…
FED INTEREST RATE DECISION - Federal Reserve officials may signal that the U.S. economy has started to recover while maintaining their pledge to keep the benchmark interest rate near a record low for an “extended period.” Policy makers meet as analysts project 2.9 percent growth in the quarter ending this month, compared with a 1 percent ...…
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