Here is the latest trading and free market analysis video on the S&P500 (SPX), SPY, QQQQ, DIA, GLD ETFs and more...
06/03/09 16:30 ET Dow -65.63 at 8675.24, Nasdaq -10.88 at 1825.92, S&P -12.98 at 931.76:
[BRIEFING.COM] Poised to take profits after watching stocks climb higher in each of the four previous sessions, participants drove broad-based losses. However, the major indices were able to limit their decline by attracting enough support to make a strong finish.
Commodities were unable to overcome considerable losses as the U.S. dollar recovered from a four session losing streak. The Dollar Index made its best percentage gain since January by climbing 1.3%, but that gave the CRB Commodity Index a 2.8% loss, which is its sharpest decline in one month. Gold, silver, natural gas, and crude oil prices all moved lower.
The sharp drop in commodity prices weighed heavily on materials and energy stocks, which led losses among stocks for nearly the entire session. Weakness in the energy sector was exacerbated by Valero Energy's (VLO 18.40, -3.98) disappointing forecast, which caused oil and gas refiners to dive 15.1% -- their worst single-session showing since October.
Losses among equities were broad-based for nearly the entire session, though health care showed resilience as biotech stocks (+2.7%) found favor. Still, a lowered earnings outlook from Aetna (AET 26.00, -1.27) weighed on managed care providers (-1.9%) and undercut the broader sector (-0.4%).
Economic data came without any significant surprises, so participants were neither dissuaded from selling nor compelled to intensify their push against stocks. The ISM Services Index for May came in at 44.0, and was essentially in-line with expectations, while factory orders for April increased 0.7%, a bit below the 0.9% increase that was widely forecast.
A precursor to Friday's nonfarm payrolls report, the ADP Employment Report showed 532,000 job losses for May. That was generally in step with the consensus forecast.
Though the pace of layoffs has slowed, job conditions remain difficult, which is expected to continue challenging consumer spending in coming months. With unemployment up and no fiscal stimulus checks in the mail, retailers are expected to face difficult same-store sales comparisons in coming months -- several retailers are scheduled to report May sales results Thursday. Shares of retailers slipped 0.9% this session.
Still, many hope that consumer spending will pick up with an economic rebound in the back half of this year. Accordingly, Fed Chairman Bernanke stated during his testimony before the House Budget Committee that overall economic activity is expected to turn up later this year.
Nasdaq -10.88 at 1825.92... S&P Midcap 400 -2.3... NYSE Adv/Dec 839/2178... Nasdaq Adv/Dec 1039/1614.
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Wednesday, June 3, 2009
Monday, June 1, 2009
SPY S&P500 SPX QQQQ DIA GLD OIL update 06/01/09 - Free Stock Market Analysis
Here is the latest trading and free market analysis video on the S&P500 (SPX), SPY, QQQQ, DIA, GLD ETFs and more...
06/01/09 16:30 ET Dow +221.11 at 8721.44, Nasdaq +54.35 at 1828.68, S&P +23.73 at 942.87:
[BRIEFING.COM] Thanks to a concerted, broad-based buying effort amid pleasing economic data, the S&P 500 climbed to fresh highs for 2009 and managed to close above its 200-day moving average for the first time since December 2007.
There wasn't any individual catalyst for the upward push, just pleasing economic data in the U.S. and abroad.
That notion was supported by news that personal spending for April declined a moderate 0.1%, which was better than expected and an improvement from the previous month, while personal income for April showed a surprise 0.5% increase in the face of loose labor conditions.
Construction spending for April also registered an unexpected increase by climbing 0.8% month-over-month.
The ISM Manufacturing Index for May came in at 42.8, which was largely in-line with expectations, but up from the prior month. Though the reading indicates manufacturing activity continues to contract, the pace of contraction is decelerating.
Meanwhile, upbeat PMI data in both China and Europe supported foreign indices, and even looped back to the U.S. to help extend the surge that U.S. stocks saw in the final hour of trading last week.
Given the impressive gains in the U.S. and abroad, the Dow Jones World Index climbed 2.6% Monday.
Retailers in the S&P 500 saw some of the best gains. They spiked 6.1%, which helped the consumer discretionary sector climb 4.6%. The sector was also helped by a 6.4% advance by automakers, even as General Motors (GM 0.75, +0.00) confirmed all previous suspicion by announcing that it will enter bankruptcy with the help of the U.S. government, which is investing $30 billion for a 60% stake in the company.
As a result of the filing, GM will lose its long-held position in the Dow. Cisco (CSCO 19.50, +1.00) will replace GM, effective June 8.
Strength in blue-chips helped the Dow cut into its year-to-date loss, which now stands at less than 1%.
Industrial stocks climbed 4.7%, more than any other major sector. Tech tacked on 3.3%, helping the Nasdaq Composite outperform the other headline indices and close above its 200-day moving average for the fifth consecutive session.
The broad-based buying effort helped nine of the 10 major sectors in the S&P 500 finish higher. Telecom (-0.4%) was the only sector to finish lower, but financial stocks (+0.5%) and health care stocks (+0.5%) also lagged the broader market.
Commodities also logged an impressive session as the CRB Commodity Index spiked 3.1% to log its best single-session advance by percent in two months. It was helped along by rising crude oil prices, which logged another 2009 closing high by finishing pit trading 3.2% higher at $68.40 per barrel.
Treasuries were knocked around again. The benchmark 10-year Note shed 58 ticks, which pushed its yield up to 3.68%. The 10-year Note had been down more than two full points during the session.
Nasdaq +54.35 at 1828.68... S&P Midcap 400 +3.7... NYSE Adv/Dec 2507/568... Nasdaq Adv/Dec 2042/647.
If you find these videos or info to be helpful please Tip or donate - <<<< link on the side >>>>.
Contributions: We appreciate all donations, please help keep this site free for the World to see and profit from. You can also help by checking out the great products and services advertised on this page. Thanks again.
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CNBC: Word on the Street:
Reuters News:
06/01/09 16:30 ET Dow +221.11 at 8721.44, Nasdaq +54.35 at 1828.68, S&P +23.73 at 942.87:
[BRIEFING.COM] Thanks to a concerted, broad-based buying effort amid pleasing economic data, the S&P 500 climbed to fresh highs for 2009 and managed to close above its 200-day moving average for the first time since December 2007.
There wasn't any individual catalyst for the upward push, just pleasing economic data in the U.S. and abroad.
That notion was supported by news that personal spending for April declined a moderate 0.1%, which was better than expected and an improvement from the previous month, while personal income for April showed a surprise 0.5% increase in the face of loose labor conditions.
Construction spending for April also registered an unexpected increase by climbing 0.8% month-over-month.
The ISM Manufacturing Index for May came in at 42.8, which was largely in-line with expectations, but up from the prior month. Though the reading indicates manufacturing activity continues to contract, the pace of contraction is decelerating.
Meanwhile, upbeat PMI data in both China and Europe supported foreign indices, and even looped back to the U.S. to help extend the surge that U.S. stocks saw in the final hour of trading last week.
Given the impressive gains in the U.S. and abroad, the Dow Jones World Index climbed 2.6% Monday.
Retailers in the S&P 500 saw some of the best gains. They spiked 6.1%, which helped the consumer discretionary sector climb 4.6%. The sector was also helped by a 6.4% advance by automakers, even as General Motors (GM 0.75, +0.00) confirmed all previous suspicion by announcing that it will enter bankruptcy with the help of the U.S. government, which is investing $30 billion for a 60% stake in the company.
As a result of the filing, GM will lose its long-held position in the Dow. Cisco (CSCO 19.50, +1.00) will replace GM, effective June 8.
Strength in blue-chips helped the Dow cut into its year-to-date loss, which now stands at less than 1%.
Industrial stocks climbed 4.7%, more than any other major sector. Tech tacked on 3.3%, helping the Nasdaq Composite outperform the other headline indices and close above its 200-day moving average for the fifth consecutive session.
The broad-based buying effort helped nine of the 10 major sectors in the S&P 500 finish higher. Telecom (-0.4%) was the only sector to finish lower, but financial stocks (+0.5%) and health care stocks (+0.5%) also lagged the broader market.
Commodities also logged an impressive session as the CRB Commodity Index spiked 3.1% to log its best single-session advance by percent in two months. It was helped along by rising crude oil prices, which logged another 2009 closing high by finishing pit trading 3.2% higher at $68.40 per barrel.
Treasuries were knocked around again. The benchmark 10-year Note shed 58 ticks, which pushed its yield up to 3.68%. The 10-year Note had been down more than two full points during the session.
Nasdaq +54.35 at 1828.68... S&P Midcap 400 +3.7... NYSE Adv/Dec 2507/568... Nasdaq Adv/Dec 2042/647.
If you find these videos or info to be helpful please Tip or donate - <<<< link on the side >>>>.
Contributions: We appreciate all donations, please help keep this site free for the World to see and profit from. You can also help by checking out the great products and services advertised on this page. Thanks again.
Please Feel free to share this blog with your family and friends, Thanks!
If you would like please comment below.
CNBC: Word on the Street:
Reuters News:
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