Daily Market Commentary

The S&P 500 continues its record breaking streak as it closed the day with another record high. Just a day after the International Monetary Fund cut its forecast for the U.S. economy, it cuts its global GDP growth forecast. The IMF cut the growth forecast from 3.4% to 3.6%, they do however expect global growth
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The S&P 500 closed at a record high today as it continues to near 2000. The International Monetary Fund cut its forecast for U.S. economic growth for 2014 due to its struggle during the first quarter. The IMF projects that U.S. growth will be just 1.7% this year, down from 2%.  Apple (AAPL) has yet
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Stocks end the day higher, with the S&P 500 hitting an intraday record. Companies are continuing to release their second quarter earnings statement this week. Nearly a fifth of the companies in the S&P 500 have reported their Q2 earnings statements so far, with 66% of them beating analysts’ estimates. Chipotle (CMG) just blew away
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Stocks fell sharply during the early trading session today, but recovered slightly to end the day barely down. The global uncertainty, particularly in Ukraine and Gaza, is weighing heavily over investors. Many large U.S. companies will be releasing their Q2 corporate earnings reports tomorrow and investors have high hopes. These companies include Apple (AAPL), Microsoft
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Stocks bounce back, seemingly ignoring all of the geopolitical tension that has been occurring over the past couple of days. The bull market is sending 401(k) retirement plans soaring to record highs. The average 401(K) balance rose 12.9% to $91,000, with 77% of the growth attributed to the stock market. If the 21st Century Fox
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The Malaysia Air crash set the Dow back 160 points. Nasdaq and the S&P 500 also ended the day in the red. The rumors that have been flying about a large number of layoffs at Microsoft (MSFT) have been confirmed today. Microsoft will layoff approximately 18,000 employees within the next year, the majority of these
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The Dow Jones ends at another record close, driven higher by the continual growth in China and heated merger discussions. It appears that Rupert Murdoch, the chairman and CEO of 21st Century Fox, will continue to push to acquire Time Warner (TWC). Time Warner’s shares even ended the day up 17%, despite the fact that
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Stocks end mixed after the chair of the Federal Reserve, Janet Yellen, said that many stocks and assets are currently overvalued. Yellen also told Congress today that the Fed intends to continue to provide support to the U.S. economy since the economic recovery is still not complete. Rumors have been flying that Microsoft (MSFT) will
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The Dow Jones once again closes the day above 17,000, but fell slightly from its intraday record. It was announced today that China’s Alibaba filed for an IPO in the United States, this IPO may very well be the biggest tech IPO in history. Yahoo (YHOO) is set to make a lot of money off
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(As of 3:45pm) All U.S. stocks are in the green during afternoon trading. Amazon (AMZN) is seeking FAA approval to test 50-mph drones. Amazon believes that Amazon Prime Air will be able to deliver packages to customers in under 30 minutes and hopes to make this prime benefit available to customers worldwide. Old Navy is
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The possible Portuguese financial crisis may be spreading across the rest of Europe, thus driving the Dow down. If the financial crisis were to spread it would negatively impact all of the work that the the European Central Bank has been doing in recent years to stabilize the European economy. The Federal Trade Commission filed
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After ending down for two straight days, U.S. stocks finally rebounded and ended the day in the green. The Fed recently released the minutes from its June 17-18 meeting. The minutes revealed that the Federal Reserve is leaning towards ending economic stimulus in October, showing that the Fed is very confident in the future of
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Stocks further retreated today and the Dow Jones even closed the day below 17,000. U.S. consumers paid the highest gas prices for Fourth of July since 2008, but it looks like gas prices for the year may have peaked. Oil is trading down 19 cents today to $103.34 a barrel, experiencing its eight-straight daily drop.
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Stocks retreat from the record highs set before the holiday weekend. Today the chief of the International Monetary Fund predicted that the global economy will improve and grow over the next year and a half, just not at the speed previously expected. As the bull market continues, investors are expecting U.S. companies to deliver sizable
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After much anticipation the Dow Jones finally closed the day above 17,000. A couple of stocks led the Dow to reaching this milestone, Caterpillar (CAT) is up 22.3% in 2014, Intel (INTC) is up 20.0%, and Merck (MRK) is up 18.3%, just to name a few. June’s job report was released today and showed that
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The Dow Jones and S&P 500 record closes continued today, but the Dow still remains just shy of 17,000. Private businesses added more than 281,000 jobs last month, significantly higher than the estimated 205,000 additions. June’s monthly job gains was the highest reported since November 2012. Janet Yellen spoke today regarding the “spillover” effect that
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All three U.S. stock indices started off the second half of the year in the green, with the S&P 500 and Nasdaq closing at record highs. Manufacturing index unexpectedly fell last month from 55.4 to 55.3, while experts expecting an increase to 55.8. On the bright side manufacturing expanded for the 13th straight month, but
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Stocks end Q2 mixed but overall posted strong gains throughout the second quarter. General Motors (GM) announced a recall of nearly 8.4 million vehicles today, mostly for faulty ignition switches. This year so far GM has recalled over 27 million vehicles, which is quickly approaching the 30.8 million industry-wide recall record that was set in
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Following earlier reports of a slowing economic growth and consumer spending, U.S. stocks stalled but ended higher on Friday. Michaels (MIK) went public today after the company had been taken private by Bain and Blackstone (BX) back in 2006. However, this IPO had a modest day and shares largely traded flat. Nike (NKE) was one of
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Wall Street ended on Thursday slightly lower after several economic and corporate reports disappointed investors. Despite the drop for the S&P, this is only the third loss for the index in 10 trading days. The government announced that unemployment claims dropped last week, a good sign for the economy, but also announced that consumer spending
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