Techs Waver

Microsoft reported great earnings next week, but that didn't keep NASDAQ in the black today. The tech sector was looking a bit peaked, despite Microsoft's win in court today over AT&T. This index gave up about 1 1/2% today. The Dow and the S&P dropped about 1/2% in sympathy. Consumer spending rose a paltry 0.3%. Inflation reared its head slightly, so we'll have to wait to see what the Fed does. In the meantime... DJIA -58.03 NASDAQ -32.12 S&P 500 -11.70

Earnings!

There was more good earnings news on Wall Street today. Microsoft took the cake with their new Vista product. Their earnings rose 65%-- just what the techies have been waiting for! Chevron reported an increase of 18% (no surprise there). AT&T's long-time CEO is retiring and is taking a $158 million dollar retirement package with him. Whoa! All this good news was overshadowed a bit by the reporting of poor economic growth numbers. According to the economists, we are slowing down. You wouldn't know it by the earnings reports, though. Wall Street reacted to all this news with a sigh-- a relatively flat day. DJIA +15.44 NASDAQ +2.75 S&P 500 -0.18

Still Counting

We keep setting records, as earnings keep filtering in. Exxon reported a 10% increase in earnings. Apple posted good results. Ford's losses were less than expected. Everyone's happy, right? Well, there is one dark cloud on the horizon. Countrywide, the big mortgage company, had a big decline and doesn't see things improving anytime soon. Housing is still the spoiler for the party. We'll have to see how this settles out. In the meantime, we'll enjoy the party! DJIA +14.63 NASDAQ +8.26 S&P 500 -0.21

Back in the Saddle

I've been traveling lately, so I've been neglecting my blog. Last week, I attended the Eastern Finance Association conference in New Orleans. I didn't get a chance to visit the hurricane ravaged areas of the city, but the French Quarter was blowing and going. I was delighted to see crowds of people filling the streets, enjoying the unique flavor of the city. We managed to partake of many delicacies. I even had my fortune read by a Tarot reader on the square. Oh, yeah, I even managed to learn a few things about finance! Last week was a record setter for stocks, but today saw retreats all round. Bank mergers were the tale of the day, as Bank of America and Barclays opened their pocketbooks for new ventures. HealthSouth's shamed CEO cut a deal with the SEC. He has agreed to pay $81 million in damages. Where do you find that kind of cash? I guess it's pocketchange, if you're a corporate do-no-gooder! DJIA -42.58 NASDAQ -2.72 S&P 500 -3.42

Cool Monday

The jobs report was good. Oil dropped below $62 per barrel. And markets yawned. Maybe, it's the cold weather. Spring has sprung. Easter is past, but more than half of the country is in the deep freeze. Markets seemed to reflect that cool feeling. It was a flat day on Wall Street. AMD is struggling, as the giant Intel is making a run for market share. DJIA +8.94 NASDAQ -2.16 S&P 500 +0.85

Friday? No, Thursday.

It's a short trading week, with markets closing for Good Friday. For the third day in a row, markets ended in the green, with the NASDAQ gaining about 1/2%. Kerkorian has given up on GM and is now sniffing around Chrysler. Ahh, to have that much cash lying around! While some economic reports have been so-so, it's been merger and buyout news that's driving markets. Happy Easter! DJIA +30.15 NASDAQ +12.65 S&P 500 +4.39

Two in a Row

Yesterday was a big day for Wall Street, with indexes gaining more than 1%. The prediction was that we'd give back today, but not so. The domestic automakers are reporting dire news. Other economic news today was not too good, but stocks showed resilience by adding slightly to yesterday's numbers. Iran decided to play nice and release the British soldiers. Maybe that was the reason for the green day. I'm not looking this gift horse in the mouth! DJIA +19.75 NASDAQ +8.36 S&P 500 +1.60

Shopping

The markets were abuzz with deals. KKR has made an offer to buy First Data. Sam Zell is trying to buy the Tribune. It's a sure sign of flowing cash and good values when the private investors come out to play. While manufacturing reported not so good news, the deals brewing on Wall Street resulted in all indexes posting in the green. DJIA +27.95 NASDAQ +0.62 S&P 500 +3.69