Stocks have had no real reaction to the Chicago PMI for October. The reading slipped to 58.4 from 60.4 in September. It had been expected to come in at 58.9. With pressure staying steady, all three major equity averages — the...
Stocks are trading in choppy fashion this morning. The lack of direction has kept them in negative territory with modest losses. There hasn’t been any real reaction to the final September reading on consumer sentiment from the University of Michigan. Even...
Stocks have reclaimed some of the gains that they had surrendered while drifting lower in recent trade. The positive tone among market participants has given advancers a 13-to-1 advantage over declining issues on the NYSE. Equally impressive is that advancing...
New home sales numbers for September were just released. They increased by 5.7% to an annualized rate of 313,000, which is a positive surprise since the Briefing.com consensus had called for a sales rate of 300,000. Stocks haven’t really reacted...
The stock market’s efforts to climb up from its morning low keeps being interrupted by renewed selling pressure. Most recently, stocks set a fresh rebound high as the S&P 500 came in contact with the 1245 line, but it has...
Consumer staples stocks (-0.8%), telecom stocks (-0.7%), and utilities stocks (-0.6%) have descended to new session lows, but tech stocks (+1.4%) and financial stocks (+1.6%) are trading at or near their best levels of the day. Renewed strength among tech issues...
The major averages are trading at their best levels of the session as all three hold gains of at least 1.4%. The Dow and S&P lead the way as both trade up 1.5% while the Nasdaq lags just behind with...
Stocks have pulled back after bouncing in response to the latest Philadelphia Fed Survey, which improved to 8.7 for October from the -17.5 that was posted in September. The October reading had been expected to remain negative at -8.8. Also recently...
Stocks have rallied back after grappling with sellers in the first 30 minutes of trade. The effort has been led by financials, which are now collectively up about 2%. Diversified banks and financial services stocks continue to lead the effort. Utilities,...
Stocks have come under a recent flurry of selling pressure, which has knocked the major equity averages to new morning lows. The effort has been relatively broad. Financials are back to a 1.5% loss, but it’s the materials sector that is...
