OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -90, DOW -9While the stock market seems to have been oversold and expecting very bad economic conditions, the magnitude of the recovery rally yesterday probably sent a message to the bear camp. In addition to the sharp across the board rally in equities, the trade was clearly assisted by much better than expected ISM readings and that seemed to...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +1260, DOW +99The stock market is seemingly charging higher because of a slightly positive Chinese purchasing manager's release overnight but that action would seem to fly in the face of recent expectations that mostly call for slack readings from the US ISM report and also for generally slack figures from two private employment surveys due out...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -410, DOW -40The market is facing the worst August market performance since 2001 and that combined with lingering concerns of a double dip recession has forced many investors to the sidelines. While a flurry of Central banks either offered up additional stimulus or they floated the promise of extra stimulus, those actions only seemed to confirm...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -100, DOW -10The stock market enters the Wednesday trade somewhat oversold but generally seeing weakness from the Asian markets overnight. The trade was presented with a $39 billion BHP offer for Potash, but BHP tempered that offer impact with statements that they would not buy assets regardless of their price. The market might also garner some...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -760, DOW -70While the sky appears to be the limit in the US Treasury market, that type of action typically serves to undermine equity prices. At least in the early action today, the bear camp seems to have the advantage of headline flow as concerns toward the Japanese and US economies seems to be thick in the news flow overnight. With a number...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +610, DOW +44The stock market is showing signs of opening just below the recovery highs forged last Friday. Apparently the merger/buy out tilt continues to provide a measure of support to stock prices but the markets are still contending with the threat of slowing in the global economy. News of eight US bank failures on Friday, along with ideas...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -610, DOW -52With European markets showing some periodic weakness and early US action flirting with yesterday's lows, it is clear that the path of least resistance is pointing downward. The market is understandably disappointed in the fact that slowing continues to dog the US economy, especially after the largest US stimulus package ever and...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +550, DOW +45While the talking heads overnight were attempting to play up easing talk from the Fed yesterday as a positive from the market today, favorable UK retail sales readings overnight seem to have given the bull camp an added argument in the early going today. However, the markets in general still seem to be skeptical of embracing a...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -80, DOW +0Unfortunately the bull market isn't able to get fresh Wal-Mart earnings every day and therefore one has to wonder where the markets will direct its attention today. While the UK equity market could have garnered some support from favorable BOE dialogue overnight, there doesn't appear to be a definitively bullish track in the early...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +620, DOW +46The stock market is showing a bit of a recovery bounce overnight and we think that is the direct result of action from the Japanese. Unlike the US Fed or the ruling class in Washington, the Japanese seem to be interested in acting before the track of slowing worsens significantly and the reality of a double dip recession becomes...
