Daily Market Commentary

Consumer Spending Unexpectedly Fell in April; Dow also in Record Territory

May 30th, 2014

The Dow Jones joined the S&P 500 to both finish the day record territory. Nasdaq ended down. The stocks were red during the majority of the day after reports showed that consumer spending dropped in April. This was an unexpected dip and was the first time American consumers cut back on spending in nearly a
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U.S. Economy Shrinks 1% in Q1; Bitcoin is Back

May 29th, 2014

The S&P 500 rallies after yesterdays loss to end the day up and hits yet another record close. The Dow Jones and Nasdaq also ended the day in the green. The U.S. economy shrunk in the first quarter for the first time in three years. It does appear that the decline will lead to a
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Is the Market Too Pricey?; DSW Down 25%

May 28th, 2014

Stocks end the day lower as the S&P 500 falls from its record high yesterday. The continual setting of record highs is disconcerting to many investors who are beginning to believe that the U.S. stock market is getting too pricey. Shares of shoe retailer DSW (DSW) fell nearly 25% during the day after sharply missing
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Consumer Confidence Up in May; S&P 500 Hits Another Record High

May 27th, 2014

The S&P 500 hits another new record as it closed above 1,900 for the second straight day. The Dow Jones and Nasdaq also ended the day up. The Consumer Confidence Index rose 1.7 in May, up to 83 from 81.7 in April. Many consumers’ expectations for the economy improved, along with the warmer weather. Durable
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New Home Sales Rose 6.4%; S&P 500 Closed At 1,900

May 23rd, 2014

Ahead of the Memorial Day weekend, stocks rose today with the S&P 500, Dow, and Nasdaq making gains. New home sales rebounded in April. Sales reached 433,000 and outperformed an earlier median estimate of just 420,000. In corporate news, GameStop (GME) was up 4% after reporting a profit of 68 million, up from $54.6 million last
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Gap’s Q1 Income Down 22%; HP to Eliminate At Least 11,000 Additional Jobs

May 22nd, 2014

Stocks continued to rally and ended the day slightly up. Retailers continued to release their first quarter earning reports this week. Best Buy (BBY) reported stronger-than-expected profit in Q1 resulting in their shares jumping up 2.7% during afternoon trading. Gap (GPS) didn’t quite fair as well, their Q1 net income fell 22% due to additional
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Minutes from the Fed’s April Meeting Released; Stocks Rally

May 21st, 2014

Stocks end the day up, with the Dow Jones gaining almost 160 points. This increase is partially due to luxury retailers, which were led by Tiffany’s (TIF) whose shares ended the day up 9%. The minutes from the April FOMC meeting were released today and investors were searching for clues that would help determine when
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Stocks Dragged Down by Weak Retail Earnings; Target Fires Another Executive

May 20th, 2014

Stocks close the day sharply down partially due to weak retail earnings. Dick’s Sporting Goods (DKS), TJX Companies (TJX), Urban Outfitters (URBN) and Home Depot (HD) all failed to meet Wall Street’s expectations, thus driving down the stock indices. Just days after General Motors (GM) recalled nearly 3 million vehicles, the auto maker recalls an
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AT&T Purchases DirecTV for $48.5M; Credit Suisse Charged With Aiding Tax Evasion

May 19th, 2014

Stocks close the day slightly up due to corporate dealmaking. AT&T (T) announced today that they will be purchasing DirecTV (DTV) for $48.5 million. While this acquisition ended with a deal, not all acquisitions were as successful today. AstraZeneca (AZN) rejected Pfizer’s (PFE) “final takeover offer” of £69.4 billion; as a result AstraZeneca’s shares fell
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GM Assessed $35M Fine; Two-Day Losing Streak Ends

May 16th, 2014

Stocks moved higher during the afternoon trading session to end a two-day losing streak. General Motors (GM) was assessed the maximum fine of $35 million for their recall delay. GM was assessed the fine since they admitted to not notifying the government in a timely manner after discovering the faulty ignition switch. Darden Restaurants (DRI)
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Walmart’s Poor Q1 Earnings Drags Down the Dow; GM Recalls 3 Million More Vehicles

May 15th, 2014

All three U.S. stock indices ended the day lower, with the Dow Jones being dragged down by Walmart (WMT). Walmart revealed a disappointing earnings report today, reporting that the retailer’s net income dropped by 5% in the first quarter. The mega-retailer sites that the harsh winter weather greatly impacted their earnings report.  It seems like
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Stocks Retreat From Yesterday’s Highs; Yahoo Purchases Snapchat Rival

May 14th, 2014

After achieving record finishes yesterday the Dow Jones and the S&P 500, along with Nasdaq ended the day down. The way we order fast food restaurants may be changing due to the improvements of Panera (PNRA). The fast-food sandwich restaurant plans to introduce high-tech ordering to its stores by way of in-store kiosks. The CEO
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Coke Increases Stake in Keurig; Another Record Day for Dow and S&P 500

May 13th, 2014

The Dow Jones and S&P 500 climbed even higher today to end with yet another record close for the second day straight. Nasdaq didn’t fare as well as it ended the day down 0.1%. The Department of Transportation released today that almost 65,000 domestic flights were cancelled this year due to the winter weather. These
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Dow Jones, S&P 500 Close at Record Highs

May 12th, 2014

The Dow Jones and S&P 500 closed at record highs today, with Nasdaq also ending the day in the green. This surge is partially due to investors purchasing some stocks that have been slumping recently. Pinnacle Foods (PF) stock rose over 13% today after it was announced that Hillshire Brands (HSH) will be purchasing the
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USPS Posts a $1.9B Loss in Q1; Apple Reportedly to Acquire Beats

May 9th, 2014

Stocks ended the day up as Nasdaq snapped a three-day losing streak and the Dow Jones ended the day at a new all-time high. USPS posted a first quarter loss of nearly $1.9 billion, making it the 20th time in the last 22 quarters that USPS posted a loss. After raising the monthly subscription price
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Companies Claim Obamacare Hurt Q1 Profits; Amazon Expands Sunday Delivery

May 8th, 2014

Stocks end the day mixed yet again, with the Dow Jones ending the day barely up and Nasdaq and the S&P 500 ending the day slightly down. First companies were blaming the harsh winter weather for negatively impacting their profits, now it is Obamacare. Over 30 companies in the S&P 500, out of the 446
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AOL Q1 Income Falls 64%; Yellen Has Bright Outlook on Economic Future

May 7th, 2014

Stocks end the day mixed, with Nasdaq being dragged down by “toxic” stocks such as Whole Foods (WFM) and Yahoo (YHOO). Despite a slow first quarter, Janet Yellen believes that economic growth will accelerate throughout the remainder of the year. But she does note that the housing market slowdown may be a point of concern
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Dow Jones Falls 130 Points; Office Depot to Close 400 Stores

May 6th, 2014

Stocks end the day sharply lower as the Dow Jones lost nearly 130 points. Twitter’s (TWTR) shares fell a whopping 18% on the day and plummeted to its lowest point since its IPO debut in November. Chrysler hopes to become mainstream as it announced that it will be releasing a compact sedan, the Chrysler 100,
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Target’s CEO Steps Down; GM Issues Another Recall

May 5th, 2014

Stocks end the day up as the four-year anniversary of the flash crash quickly approaches. On May 6, 2010 $1 trillion in wealth was wiped out almost instantly, investors still wonder what caused the the quick crash. Target’s (TGT) CEO stepped down from his position today, just five months after the retailer experienced a massive
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288,000 Jobs Added in April; Unemployment Rate Falls to 6.3%

May 2nd, 2014

Stocks end down today despite the better than expected April jobs report being released. Employers added 288,000 jobs in April, the most jobs added in a single month in over two years. The unemployment rate also fell to 6.3% from 6.7%, which is currently at the lowest rate since September 2008. The Commerce Department announced
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