OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +640, DOW +49All one has to acknowledge this morning is the fact that the S&P has managed the highest trade since June 14th. One could suggest that Alcoa earnings are providing the boost to prices, or one might suggest that optimism toward a potential capping of the Gulf oil well might be contributing to the bullish sentiment seen over the...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -460, DOW -32The stock market is showing some initial weakness this morning but it would not appear as if the market is poised for a major washout perhaps because some sellers will be afraid to sell into the market ahead of the earnings kick off after the close today. However, the markets are fresh off a rather impressive run up over the prior...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +50, DOW -8While the new highs for the move overnight weren't exactly dominating, the markets have generally maintained a positive track into the last day of a holiday shortened week. While the market might not see the Italian economic readings as that important, we think that news of a 1% rise in May Industrial Production from a Euro zone...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -30, DOW +1While some market measures managed to forge a higher high initially this morning on the charts, we don't get the sense that the market is moving to price in an improved economic condition. In fact, a stop gap investment prospect for BP and relief rally gains in banking sector stocks are hardly cause for fresh optimism toward the...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -330, DOW -31The stock market looks to be in a liquidation pattern today, as the reward for being long this market continues to be limited by rather limited expectations for future world growth. While the market saw some fresh developments from the Euro zone financial front this morning, the bank stress tests results won't be made public until...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +1210, DOW +100While the European markets were attempting to fan concern over the upcoming European Bank stress tests, that mentality didn't prevent European equity markets from starting out higher for the day. In fact, overnight strength was reportedly the result of gains in bank and mining stocks and that suggests that the US equity market is...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +0, DOW -2The stock market forged a big range down reversal in the prior trading session as the trade was obviously undermined by the very disappointing US economic readings. However, if the market hadn't seen the US economic report slate yesterday, the stock market could have forged a massive range up rally off the favorable news from the Euro...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -100, DOW +0 The stock market looks set to start the Thursday session under a bit of pressure because of news of a slack Chinese PMI reading and also because of lingering uncertainty off the Euro zone repayment issue. With a fresh new low for the move overnight and the lack of a bounce off the lows in the prior trading session, one has to leave...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 +690, DOW +56While the market is showing some initial recovery action in Europe and in the early Wednesday US action, we get the sense that the bounce is mostly a technical balancing move and not a sign of improved sentiment. However, with the Euro climbing slightly in the wake of a 3 month tender overnight, there is a tempering of anxiety...
OVERNIGHT CHANGES THROUGH 6:05 AM (CT): S&P 500 -1190, DOW -105The stock market has forged a fresh downside breakout on the charts overnight and the slide looks to be the result of a series of unrelated negatives. While the Shanghai equity market was supposedly down off investors liquidating shares to build cash for an upcoming Chinese AG Bank IPO, it is also possible that a downward revision...
