Today it looks more like a bear market rally
In my weekend Saturday Night Quarterback on my subscription JubakAM.com site I said that this week would, probably, answer the question of whether Friday’s big bounce was just a bounce, the start of a buy on the dip rally, or even a bear market rally with a bit...
I’d be surprised if today’s oil price weakness persists
Oil is down strongly today with U.S. benchmark West Texas Intermediate lower by 5.13% to $102.61 a barrel. You don’t need to look in obscure, dark corners of the financial market for the reason. The IMF sharply cut its forecast for global growth today and China...
Delta spikes on earnings and forecast of rebound in summer travel
Delta Air Lines (DAL) reported a smaller than expected first quarter loss today and shares rose strongly after the company said a strong rebound in summer traffic would turn results positive in the second quarter. As of noon New York time Delta shares were up 4.51%....
Airline stocks soar before Delta earnings
As of 3 p.m. New York time Monday, April 11, airline stocks were rallying strongly ahead of Delta Air Lines (DAL) earnings report Wednesday morning. The stocks gave up some ground at the close but still finished the day strongly Delta shares were up 4.68% at 3 p.m....
Airlines climb on oil drop, traffic pickup–now it gets tricky
Oil prices collapsed. And airlines reported a better than expected pick up in traffic. So airline stocks soared with the most stressed operators showing the biggest gains in their shares. Delta Air Lines (DAL) closed up 8.70% on the day. United Airlines (ULA) picked...
U.S. to ban Russian oil and natural gas–Brent hits $131 a barrel, WTI $127
The United States will ban imports of oil and natural gas from Russia, President Biden announced Tuesday. I’ve tried to pin down the exact timing and implementation of the ban (I don’t see these details in the executive order as released by the White...
Be careful out there: This is one insanely volatile market both on the up and down sides
Want to know exactly how volatile the stock market is right now? Yesterday investors and traders got news that the first case of the Omicron Variant had been recorded in California. On that, and some “We’ll tighten sooner than expected” remarks from...
Federal Reserve’s Powell stops calling inflation “transitory” and stocks tank–except for Apple
Federal Reserve Chair Jerome Powell retired the word “transitory” to describe stubbornly high inflation in testimony today in front of the Senate Banking Committee. And, Powell continued, the Fed might accelerate the pace at which it is winding down its purchase of...
Apple, Amazon, Alphabet,Adobe, Applied Materials and other big techs rally hard–rest of stocks not so much
Today, Monday November 29, it’s a tale of two bounces from Friday’s big sell off. Technology stocks and especially big technology stocks are up big. At the close in New York Applied Materials was up 5.53%. Adobe (ADBE) was ahead 3.83%. Nvidia (NVDA) was...
Are airlines “the canary in the coal mine” for how much the Delta variant will slow the U.S. economy in the third quarter?
The politics and the science argue that this fall we’re not going to see a repeat of the economic lockdowns put in place in 2020 in an attempt to control the spread of the coronavirus. But it’s also clear that the the current huge surge in infections from...
The financial market is feeling better today about risk–time to put on your worry hat?
You can judge the stock market’s mood pretty accurately today, Tuesday, March 30, from just a few price movements. Take a look at the performance of bank stocks, the small cap Russell 2000, the CBOE VIX “fear index,” and technology stocks to see...
The rotation gets extreme–Dow hits record intraday high while NASDAQ Composite falls into a correction
Two indexes will tell you what you need to know about today’s stock market action. The Dow Jones Industrial Average, driven by cyclicals, vaccine recovery stocks, and consumer stocks rose to an intraday record high. After a slight retreat at the end of the...
It’s dejavu all over again: Everything is down today
Back on February 23, I wrote a post with the headline “Everything is down today” and added that while I wasn’t buying everything on the dip I was doing some selective nibbling. Today’s market looks almost exactly the same–if a bit more so...
No bounce after yesterday’s selling
What I like to see–if I’m on the long side of stocks–after a drop like yesterday when the Standard & Poor’s fell 1.86% for its biggest loss in a month and the Dow Jones Industrial Average gave up 2.29%–is a bounce that speaks to...
For one more day, stock market buys politicians’ blather on coronavirus stimulus
Stocks climbed today with the Standard & Poor’s 500 up 0.80% at the close, as investors and traders decided that the talk out of Washington about another coronavirus stimulus effort was more than just pre-election hot air. The Dow Jones Industrial Average...
Hope supports airline shares today; logic not so much
After taking a beating yesterday afternoon when President Donald Trump tweeted that he was instructing Treasury Secretary Steve Mnuchin to end coronavirus stimulus talks with House Speak Nancy Pelosi, airline stocks are bouncing today after a late-night tweet from the...
Why the President’s positive test for coronavirus led to a rally today in airline stocks
Every investor and trader has spent much of today speculating (either in words or dollars) on what President Donald Trump’s positive coronavirus test might mean for stocks. The Standard & Poor’s 500 closed the day, October 2, down 0.96% and the Dow...
Stocks take a while but deliver expected bounce today
This morning it looked like we might not get the bounce I expected today after the Monday morning sell off and Monday afternoon recovery. The NASDAQ, dominated by the big tech names most likely to bounce today, started Tuesday off in a mild downturn. As of 11:07 a.m....
Small move in S&P 500 disguises continued turmoil in big technology shares
Three stocks in the Standard & Poor’s 500 were up for every two that were down as the index turned in a day with very little movement–a gain of 0.05% at the close on September 11. The Dow Jones Industrial Average was ahead a bit more at 0.48% That...
Tech bounces off 50-day moving average
They’re back. Tech stocks were back big this morning as the NASDAQ bounced off of its 50-day moving average. As of noon New York time, the Standard & Poor’s 500 was up 2.16% and the NASDAQ Composite was ahead 2.69%. The Technology Select Sector SPDR...
Slide in the afternoon doesn’t augur well for tomorrow
The NASDAQ Composite was down an already punishing 2.75% at noon in New York. But the damage wasn’t done for the day. The tech-heavy index closed the day down 4.11% And the big techs, the stocks that had driven the rally up and are now pacing the move down, sold...
Stocks recover to show narrower loss by end of day
The Standard & Poor’s 500 almost got to break-even late in the day today (at 3:28 p.m. New York time) but stocks couldn’t hold the line. Still the 0.81% loss at the close for the index as much better than the 2.99% loss at 10:45 this morning. That was...
Market passes baton back to Fed’s Powell Put for today’s rally
On Monday the Standard & Poor’s 500 and the NASDAQ Composite hit new all-time highs on what I’m calling the Vaccine Put, the hope that we’ll see the announcement of an approved coronavirus vaccine by early in 2021 or maybe even the end of 2020...
Back to tech: For a day (at least) rotation is over
Today, August 12, the rotation out of tech winners and into beaten-up consumer and industrial stocks is over. As of the close today. the Standard & Poor’s 500 was up 1.40% but the NASDAQ Composite was ahead 2.13%. The Dow Jones Industrial Average was higher...
Today it’s Amazon’s market
This morning shares of Amazon (AMZN) burst higher out of the box, gaining 5.98% as of noon New York time. The catalyst, it appears, was a new target price from Goldman Sachs of $3800 a share, up from the previous target of $3000. The shares had closed at $2961.97 on...Vaccine hopes drive stock prices higher today–and tomorrow?
U.S. stocks broke strongly higher today as Moderna (RNA) disclosed results from an initial safety trial. Investors also got a report on the ITV.com website that new findings from the vaccine candidate being developed at the University of Oxford could be published as...
Everything was rosy until the last hour
At the high point during the day, the Dow Jones Industrial Average was up 2.2%. It closed with a gain of just 0.1% for the day. The trend wasn’t limited to U.S. stocks. The iShares MSCI Emerging Markets ETF (EEM) was up 1.26% at noon New York time but closed off...
Today markets forget China rally and return to coronavirus recession worries with UAL announcement
United Airlines Holdings (UAL) has warned employees that it has seen a sharp drop in bookings in the last few weeks. Bookings at United’s Newark hub were at 16% of July 2019 levels as of July 1. That rate is roughly half of the level a few weeks ago when it...
Stock patterns today show deep uncertainty about market direction in today’s buying and selling
It wasn’t a day for big moves in U.S. stocks. The Standard & Poor’s 500 closed ahead 0.06% and the Dow Jones Industrial Average finished off 0.15%, for example. Nobody wants to get every far ahead of the trend–whichever direction it’s...Jim’s Daily Email Alerts:
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