Independent, Fee-Only Financial Advisor
Thursday, February 25, 2010
A wave in late buying couldn't quite bring the stock market back from this morning's descent. Major averages were hurt by investors' worries about the U.S. jobs picture and sovereign debt in Europe. However, we were lucky that because of the afternoon climb, they ended up only modestly lower than yesterday's close. With one trading session to go in February, the Dow is now up 2.5% for the month. In other markets, the dollar fell, while the euro gained slightly. DJIA -53.13, Nasdaq -1.68, S&P 500 -2.30.
Tuesday, February 23, 2010
A dismal report on consumer confidence tripped up stocks today, sending the market to a second straight loss. Again, recovery-sensitive industrial and commodity-producing stocks led today's decline. Earnings reports released by some leading retailers were strong, giving some traders and analysts hope that customer's conservative thoughts might not be translating into actual behavior at cash registers. In other markets, the dollar strengthened against the euro but weakened against the yen. DJIA -100.97 Nasdaq -28.59 S&P 500 -13.41.
Monday, February 22, 2010
Well, it has been a dreary day today in Mississippi! The sun has been hiding behind thick clouds that are rumored to bring us a bit of snow tomorrow night. Unfortunately, it seems that the market went along with the gloomy atmosphere that we've experienced outside today. Stocks broke a four-day winning streak as investor jitters about the economy resurfaced, hurting the energy sector and other recovery-sensitive categories. In other markets, the dollar slipped versus the yen and euro. DJIA -18.97 Nasdaq -1.84 S&P 500 -1.16.
Thursday, February 18, 2010
Stocks rose again today with the industrials and materials sectors leading the climb. They gained momentum in late-afternoon trading after posting only modest gains for most of the day due to disappointing data on jobless claims among other things. The dollar strengthened against the yen but weakened against the euro. The pound along with treasurys declined as well. DJIA +83.66 Nasdaq +15.42 S&P 500 +7.24.
Wednesday, February 17, 2010
Stocks gained for the second day in a row, boosted by strong profit reports and economic data that reinforced investors' newfound preference for the U.S. over Europe as a venue to put their money to work. That attitude boosted the dollar as well, marking a rare instance of the currency rallying in tandem with stocks and some commodities. The Yen also gained today as the Euro and Pound fell slightly. DJIA +40.43 Nasdaq +12.10 S&P 500 +4.64.
Tuesday, February 16, 2010
Well, it's back to business here after our break due to "The Big Snow." Luckily, not only do things outside seem to be getting back to normal, but also after our bumpy ride last week, things seem to be getting better in the stock market. Stocks jumped today, aided by improving U.S. economic data and rising confidence in Europe's efforts to help heavily indebted Greece. The Pound, Yen, and 10-year note gained minimal amounts; however, the Dollar and the Euro fell slightly. DJIA +169.67, Nasdaq +30.66, S&P 500 +19.36.