State of the Markets
All About the Action
By: David Moenning
Not much going on from around globe early this morning. China cut rates on its short-term lending facility and expanded quota, but Asian markets are mixed. Europe is trading mixed in choppy fashion, and has been relatively quiet. February composite PMI slipped a bit from flash readings bu…
Are You Looking At the Right Picture?
Is there really anything more fun than watching the financial networks fawn all over a major index moving above a big, round number? Thinking back, I guess it truly was a big deal the first time the Dow Jones Industrial Average moved above the 10,000 level. (Admit it; you've still got the…
China, Europe, Fed Remain Focal Points for Markets
The big news over the weekend involved China. First, in a surprise move, the People's Bank of China cut interest rates by 25 basis points. The PBOC said the move was intended to keep rates at levels suitable to the current fundamental trends in economic growth, which as just about everyon…
There Is No Bubble in the U.S. Stock Market, But...
One of my personal pet peeves about market pundits these days is the preponderance of bubbles being sighted. Nary a day goes by where you don't see an article on the major financial sites about a bubble in this or a bubble in that. The problem is that almost by definition, when a bubble i…
China, Bullard Making Headlines...
While the spotlight has been on Janet Yellen this week, this morning traders are turning their attention to China. In Shanghai, stocks rocketed higher with the composite index gaining 2.14% overnight. Calls for additional monetary stimulus/easing were cited as the primary driver behind th…
The Key To This Move Is...
The key to yesterday's move to fresh all-time highs was easy to identify as Janet Yellen did herself proud in front of the Senate Banking Committee. So before we move on to other inputs or the drivers behind today's early action, let's spend a moment or two to understand what the nation's…
The Story of the Day Is...
There was no shortage of stories to attract the attention of traders and their computers yesterday. It seemed like there was a new item flashing across the screens every 15 minutes or so. However, at the end of the day, the market only seemed to care about a couple things - Yellen and App…
On To The Next Big Thing?
The fact that the S&P 500 finally made a convincing break for the border and finished at an all-time high on Friday may have some investors scratching their heads. Yes, there was a deal reached to extend Greece's loan by four months. However, haven't we seen this movie before? Isn't t…
The Drama Continues But The Real Question Is...
Today's market action continues to be all about Greece. As is typically the case on a Friday, there has been a flurry of headlines from both sides of the debate today. For example, it is being reported that the ECB is preparing for a Greek exit from the Eurozone and that the central bank'…
Greece, Oil Remain the Focal Points
Trying to pin down the primary driver of the current stock market is a little tricky as there seems to be three or four sources of input these days. For starters, there can be little doubt that traders are keeping an eye on Europe/Greece. Yet, the headlines coming from across the pond hav…