Oct 1 2012 | 4:56 PM

Stocks advanced this morning on U.S. economic reports but then lost some steam as Federal Reserve Chairman Ben Bernanke made comments about the state of the U.S. economy during an Economic Club of Indiana luncheon.


Markets rallied on the open thanks to positive production and manufacturing results though the surge was later tempered by Chairman Bernanke’s comments that the U.S. economy will not see decided growth until we get a marked improvement in employment which he does not foresee in the near future as he defended the central bank’s recent announcement to embark upon another bond-buying stimulus program. 


The market strength this morning came after data showed that the manufacturing sector expanded for the first time since May, with the ISM index rising to 51.5 (49.7 expected) in September from 49.6 in August.  A reading above 50 indicates an expansion.  This followed PMI data from China and the euro zone that showed some signs...

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Sep 26 2012 | 5:00 PM

Stocks declined and the VIX inched higher today, as concerns over the euro zone continued to mount after protesters flooded the streets of Athens and Madrid, violently demonstrating their opposition to further austerity measures.


On the economic front, a report showed that sales of new homes slowed in August to 373K (380K expected), compared to a revised 374K in July.


MBA reports mortgage applications were up 2.8% vs. 0.2% decline last week. The thirty-year fixed mortgage rate decreased to 3.63% from 3.75%.            


The euro hit a two-week low against the U.S. dollar and oil fell below $90 a barrel for the first time since the beginning of August.


Have a good Wednesday evening.


Market Indices/Statistics:



  • Dow closed down 44.04 pts/-0.33% to 13,413.51

  • S&P closed down 8.27 pts/-0.57% to 1,433.32

  • Nasdaq...
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Sep 25 2012 | 4:45 PM

Stocks fell sharply in volatile trading and closed on session lows, despite a batch of positive economic reports, as investors redirected their attention to the debt crisis in the euro zone.   Spain is likely to request a bailout from the ECB and is set to announce another round of strict austerity measures in a 2013 budget on Thursday, already prompting protests in Madrid.


According to the S&P/Case Shiller composite index, home prices rose 0.4% (0.8% expected) in July, a sixth consecutive monthly increase, suggesting that the recovery in the housing market remains on track.  In a separate report, The U.S. Federal Housing Finance Agency home price index indicated prices rose 0.2% in July compared to 0.6% in June.


Consumer confidence jumped to seven-month highs, rising to 70.3 in September, compared to a reading of 63.1 forecasted by economists.


Have a good Tuesday evening.


Market Indices/...

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Sep 24 2012 | 4:44 PM

Stocks closed lower today, as concerns over the euro zone continued to weigh on financial markets, despite the recent bond-buying plan from the ECB,  after German business sentiment fell for a fifth month in a row.  Investor sentiment was further dampened after a China beige book survey signaled a downturn in business optimism in the world’s second largest economy.


Spain continues to be in focus as the debt-burdened nation is scheduled to present its budget to parliament Thursday and release its bank audit results on Friday.  Additional pressure was applied to Spain after a credit review by Moody’s suggested that Spanish debt could be downgraded.


Have a good Monday evening.


Market Indices/Statistics:



  • Dow closed down 20.55 pts/-0.15% to 13,558.92

  • S&P closed down 3.26 pts/-0.22% to 1,456.89

  • Nasdaq closed down 19.18 pts/-0.60% to 3,160.78
  • ...
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