The nation’s 16th largest bank was taken by the Fed as regulators did not wait…they acted swiftly and efficiently to curb continued withdrawals that had totaled 42 million dollars on Thursday, as SVB endured one of the largest bank-runs. SVB Bank data was and is highly suspect, with unrealized losses of a staggering $16 billion, … Read more
Stocks finished higher last Friday after a lackluster week. Investors and traders were ‘happy’ that several high flyers were having better than expected quarters. As the market opened up Monday, the mood was anxious in anticipation of the Labor numbers coming forth at the end of the week. Also, Jerome Powell’s upcoming appearance before Congress … Read more
The Big News Friday…The release of the PCE (Personal Consumption Expenditures Index). The report, developed by the Commerce Department illustrates consumer spending, and it showed the trend is continuing to rise, up 1.8% from December, a compelling figure as it reflects the spending mood of the consumer. It also brings-to-bear that the inflation rate is … Read more
For the third straight week, the market continued ‘sour,’ with investors and traders beleaguered by a plethora of unsettling news. Apprehension gripped the market as stubborn inflation bucked Mr. Powell and the Federal Reserve. The January number [CPI] came in at 6.4%, a bit of a drop from December’s 6.5%, giving little solace to the … Read more
Important Inflation information is coming up for release this week, giving investors and traders more to think about. Evidently there was more positive than negative thoughts as Monday’s close was upward. The Dow Jones Industrial Average was up 1.1%, 376 points, as the S&P 500 nudged higher by 43 points. The technology-heavy Nasdaq Composite was … Read more
Stocks opened mixed on Monday as traders and investors were perplexed…as hiring has soared, with 517,000 new jobs reported since the first of the year, shoving unemployment to a 57 year low, at 3.49%. That is the lowest level since May 1969, after five months of slowing employment, according to the Labor Department. Treasury Secretary … Read more
Investors and traders are finally ‘on board’ with Mr. Powell, Federal Reserve Chair. After rate hikes from June of 2022 to the present, and ranging from 0.75 percentage points to today’s 0.25 percentage increase, major progress in fighting inflation is apparent. After one month, in the new year, market indices are drifting higher. Led by … Read more
Stocks finished last week with robust swagger, as the tech driven Nasdaq Composite favorites posted some surprise earnings results, amid some massive announced layoffs. The market came to life on Monday as stocks showed optimism, as all indices were stronger. The Dow Jones Industrial Average was up 259 points or 1.2%, with the S&P 500 … Read more
Stocks finished Friday on the upswing after a week of peaks and valleys. Investors and traders watched closely as a few ‘big banks’ showed earnings that were surprisingly ‘good.’ As interest rates increase, loans become more profitable, generating more fees and revenue, as seen in the latest quarter. As the week opened, more bank earnings … Read more
The market finished last week’s session with the Dow Jones Industrial Average soaring nearly 700 points, while the S&P 500 and Nasdaq Composite gained 2.3% and 2.6% respectively. It marked the first week of 2023 with increases in the indices. A big factor in the positiveness of the market was the Labor Department’s monthly report. … Read more