Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, November 30, 2010

Tuesday

Stocks fell as investors continued to worry about the European sovereign-debt crisis, but better-than-expected data on U.S. manufacturing and consumer confidence helped limit the drop. As market sentiment toward the euro zone sharply deteriorates, European officials are planning a new round of bank "stress tests" that are said to be more rigorous than the widely discredited exams conducted earlier this year. November posted the market's first monthly drop since August with the Dow Jones Industrial Average finishing in the red 1% for the month. DJIA -46.47 Nasdaq -26.99 S&P 500 -7.21.

Monday, November 29, 2010

Monday

Stocks fell today as investors worried that the $112.61 billion Irish bailout might not be enough to contain the euro-zone debt crisis. The Dow closed in the red .36% with its technology components among the average's worst performers. HP declined 1.4%, while IBM slid .7% after Gartner Inc. cut its world-wide personal-computer shipments forecast for the year. On the bright side, early reads from the Black Friday shopping weekend indicated that business was brisk and heavier than last year, especially in consumer electronics, toys and jewelry. DJIA -39.51 Nasdaq -9.34 S&P 500 -1.64.

Monday, November 22, 2010

Monday

Blue-chip stocks declined today, led by financials, as the market cringed over new details of widespread insider-trading investigations and Ireland's debt woes. Although the Dow closed in the red, it managed to regain most of its 100-point loss from earlier in the trading session. Leading the Dow's declines were Bank of America, down 3.1%, and J.P. Morgan Chase, which slid 2.3%. The market's early tumble came after Ireland over the weekend agreed to accept a bailout. Adding fuel to the fire, fresh worries over the financial sector arose when the Wall Street Journal reported that FBI agents raided the offices of three hedge funds amid a far-reaching insider-trading investigation. DJIA -24.97 Nasdaq +13.90 S&P 500 -1.89.

Thursday, November 18, 2010

Thursday

Stocks soared as worries about Ireland's debt situation eased. The Dow jumped 1.6%, marking the blue-chip index's first gain in three days. The energy, materials and technology sectors led the index's climb as worries diminished about China and the scope of its inflation-cooling measures. DJIA +173.35 Nasdaq +38.39 S&P 500 +18.10.

Wednesday, November 17, 2010

Wednesday

The Dow fell for the fourth time in five days after a day of choppy trading that saw markets dragged down by financial stocks. The blue-chip average was helped by strong earnings by retailers, keeping the average above the 11,000 mark. Financial stocks led the declines after The Wall Street Journal reported that the Fed will require all 19 banks that underwent stress tests during the height of the financial crisis to undergo another review of their capital and their ability to absorb losses under an "adverse" economic scenario. DJIA -15.62 Nasdaq +6.17 S&P 500 +.25.

Tuesday, November 16, 2010

Tuesday

Stocks posted their biggest one-day drop in over three months today. The declines came as fears of a slowdown in Chinese economic growth and doubts over the long-term effects of the Federal Reserve's bond-buying program mounted. Concerns over China's monetary policy have mingled with growing skepticism over the effectiveness of the central bank's announcement earlier this month. It seems that many are getting nervous about the Fed's ambitious plans. DJIA -178.47 Nasdaq -43.98 S&P 500 -19.41.

Monday, November 15, 2010

Monday

A rally in U.S. stocks on stronger-than-expected retail sales fizzled out late in the session as worries about the economy persisted. Data showed U.S. retail sales surged in October, topping expectations on robust car sales and solid spending for a broad array of merchandise. Retail sales rose 1.2% last month, the fourth consecutive increase and the biggest rise since March. Other data released today were not quite as encouraging. The November reading of New York-area manufacturing activity from the Federal Reserve Bank of NY fell into negative territory. Meanwhile, a bigger-than-expected increase in inventories at U.S. businesses in September could leave companies holding too much inventory if the holiday shopping season disappoints. DJIA +9.39 Nasdaq -4.39 S&P 500 -1.46.

Thursday, November 11, 2010

Thursday

Continued worries about weakening currencies paired with a jump in Chinese consumer prices sent investors back to gold as an inflation and currency hedge. Gold continues to ride a wave of support after the Fed's announcement last week that it will buy $600 billion in Treasury bonds over the next eight months. Meanwhile, worries about sovereign debt in some European nations have been resurfacing, further supporting gold as a perceived haven. DJIA -73.94 Nasdaq -23.26 S&P 500 -5.17.

Tuesday, November 09, 2010

Tuesday

Stocks fell today as investors became increasingly concerned about the potential impacts of the Federal Reserve's stimulus plans announced last week. Global controversy has been mounting over the Fed's moves ahead of a group of 20 summit meeting that begins Wednesday night in Seoul. Data showed inventories at U.S. wholesalers grew more than twice as much as expected in September. While the inventory build could be seen as a sign that companies are confident demand will hold up as the economy continues to recover, some worried about whether that might leave companies with more inventory than they can sell. DJIA -60.09 Nasdaq -17.07 S&P 500 -9.85.

Thursday, November 04, 2010

Thursday

Stocks rallied today to their highest level since September 2008 as investors applauded the Federal Reserve's latest effort to stimulate the struggling economy. Financials were the S&P 500's biggest gaining sector after The Wall Street Journal reported the Federal Reserve is expected soon to start allowing healthy banks with strong capital levels to increase their dividend payments. On the employment front, initial jobless claims jumped back above the 450,000 level, suggesting continued weakness in the labor market. But U.S. productivity bounced back in the third quarter, rising at a 1.9% annual rate, exceeding economists' expectations. DJIA +219.71 Nasdaq +37.07 S&P 500 +23.10.

Wednesday, November 03, 2010

Wednesday

The Dow Jones Industrial Average jumped to a two-year closing high following a volatile afternoon of trading. The market had been bouncing around after the congressional election and after the Fed said it would buy $600 billion of Treasurys to prime the domestic economy. Reports showed that private-sector employment grew by 43,000 in October, topping consensus estimates of a 22,000-job gain. U.S. factory orders also rose more than expected. This is the third consecutive month of growth for one of the economy's key drivers. DJIA +26.41 Nasdaq +6.75 S&P 500 +4.39.

Monday, November 01, 2010

Monday

Blue-chip stocks squeaked out a slim gain today amid jitters ahead of U.S. midterm elections and expected moves from the Federal Reserve. Technology stocks rose after the Semiconductor Industry Association said global chip sales rose 2.9% in September. The market had climbed earlier today, fueled by encouraging manufacturing reports from the U.S. and China, as well as an unexpected rise in U.S. construction spending. A ProPublica report said the SEC is investigating whether J.P. Morgan Chase allowed Magnetar Capital, a hedge fund, to improperly select assets for a $1.1 billion deal backed by subprime mortgages. This report caused financial stocks to slide into the red, which in turn caused the market's climb to slow. DJIA +6.13 Nasdaq -2.57 S&P 500 +1.12.