From the Trading Desk
After-hours trading shows earnings disappointment, but the market still is in a healthy uptrend Earnings were the main story today aside from further talk about Quantitative Easing and the Foreclosure crisis. Citigroup (C) lead off the string of earnings as the market cheered its earning release sending the stock as well as other financial stocks [...]
It was about time we saw the market close lower on heavy volume. At one point the Dow Jones Industrial Average was up more than 155 points. The market was clearly focused in on Ben Bernanke’s testimony and prepared comments then it would turn its attention to the release of the Fed’s meeting minutes. Hints [...]
Void of economic releases the market did get showered with more than $3 billion in asset purchases from the Federal Reserve. A hiccup in the morning was quickly support as the Federal Reserve Open Market Operations flooded the market with fresh new cash. Over Europe the DAX closed in the green for the 11th straight [...]
Heading into the week the US market once again watched the Nikkei continue to move further into the stratosphere. Futures were pretty anemic heading into the trading session today. Overnight news focused on the plunge in precious metals as Silver and Gold were hit hard. Despite the negative open and sentiment both precious metals were [...]
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Stocks Get Late Day Rebound to Close in Positive Territory
Traders get whipsawed as stocks digest earnings reports A roller coaster day for the market as stocks finish in the green, but coming back after sellers took to the market. The NASDAQ hit a wall just after eleven am today falling to its lows by two o’clock. Today’s roll over was not pretty during the [...]