STTG Market Recap June 15, 2015

Indexes gapped down at the open on the daily Greek drama, and while some of those losses were recovered as the day progressed there was not really any real buying power that came in. The S&P 500 fell 0.46% and the NASDAQ 0.42%. The Federal Reserve does meet tomorrow and Wednesday so we’ll see if we can take at least a 1 day break from the daily Greek dance Wednesday.Athens and its…

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STTG Market Recap May 22, 2015

It was a quiet Friday to end a quiet week as it seems most of Wall Street left for the Hamptons last weekend. The S&P 500 fell 0.22% and the NASDAQ 0.03%. Stocks moved little following an afternoon speech by Federal Reserve Chair Janet Yellen that said a rate hike would be appropriate this year if the economy improves. She noted that first quarter weakness was largely transitory and that…

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STTG Market Recap May 20 2015

It was another quiet session as there was very little reaction to the Federal Reserve minutes which basically reinforced what everyone expected – there will be no rate hike coming in June. There was a momentary spike when this news was released but almost all of that was sold within an hour. The S&P 500 dropped 0.09% while the NASDAQ added 0.03%.Federal Reserve officials believed it…

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STTG Market Recap Apr 28, 2015

In what was generally a quiet day we had some fireworks in Twitter (TWTR) in the closing hour as its earnings were released early causing the stock to halt and then re-open and plunge. More on that later. As for the indexes the S&P 500 gained 0.28% while the NASDAQ fell 0.10%. Many people tend to sit on their hands the day ahead of a Fed announcement, which comes tomorrow.”The market is…

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STTG Market Recap Apr 27, 2015

A morning gap up led to some sellers showing up as the extended NASDAQ needed to take a bit of a breather. The S&P 500 fell 0.41% and the NASDAQ 0.63%. There is a Federal Reserve meeting this week in between all these earning reports so we’ll see if there is any gyration Wednesday – but no action is expected until fall at the earliest in terms of raising interest rates.Fun fact -…

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STTG Market Recap Apr 15, 2015

A solid day in U.S. markets as indexes gapped up and stayed solid all day. The S&P 500 gained 0.51% and the NASDAQ 0.68%. Stocks extended gains slightly following the Federal Reserve’s Beige Book noted improvements in residential real estate but reported overall moderate growth.Some key earnings for Thursday – Citigroup, Goldman Sachs, American Express, Schlumberger, UnitedHealth,…

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STTG Market Recap Apr 16, 2015

Thursday saw choppy action in the indexes as it looked like it was going to be a typical bull market type day with morning selling met by buying – but then a late round of selling pushed things back to near break even. The S&P 500 fell 0.08% and NASDAQ 0.06% – not much too read into that. Economic news is on the back burner this week but U.S. March housing starts showed a 0.926 million…

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STTG Market Recap Apr 17, 2015

Friday was a bit of a curveball as overseas events impacted U.S. markets. The S&P 500 fell 1.13% and the NASDAQ 1.52%. Chinese futures sunk over news of coming government regulation to expand short-selling and limit over-the-counter margin trading. Regulators in China banned the margin trading businesses of brokerages from taking part in umbrella trusts. Investors in China have ramped…

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STTG Market Recap Apr 21, 2015

All major indexes opened up Tuesday but by end of session only the NASDAQ remained in the green as the biotech sector had some merger and acquisition activity in it. The S&P 500 fell 0.15% while the NASDAQ rose 0.39%. The earnings onslaught continued.The NASDAQ has quickly recovered all of last Friday’s losses now.  The S&P 500 remains range bound.
Original post: STTG Market Recap Apr…

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STTG Market Recap Apr 22, 2015

Another day of heavy earnings reports as this market tries to sludge its way upward. The S&P 500 gained 0.51% and the NASDAQ 0.42%. Existing home sales data for March beat expectations at 5.19 million. The report was expected to show a second consecutive monthly increase, to just over 5 million, broadly matching the average monthly reading since last summer.
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STTG Market Recap Apr 24, 2015

With all the earnings related surges in after hours Thursday night it was not difficult to predict Friday would be a solid day for the NASDAQ – and it was, as the index added 0.71% to go along with a more modest day on the S&P 500, up 0.23%. The NASDAQ gapped up at the open and stayed steady all day. Middling economic news was ignored; durable goods, ex-transportation, fell 0.2 percent,…

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STTG Market Recap Apr 23, 2015

After last Friday’s selloff on the China news, this week has been generally quite positive as the earnings parade has been unleashed. Today was another such day as a slight negative open was bought and the S&P 500 finished up 0.24% and the NASDAQ 0.41%. New home sales for March came in weaker than expected, at 481,000 in March, versus the 510,000 unit estimate. Overseas, China’s flash…

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STTG Market Recap Apr 20, 2015

China taketh and China giveth. After Friday’s selloff was caused by some tightening lending standards and increased short opportunities in the Chinese market, we saw a role reversal as China’s central bank acted to ease. In now normal knee jerk reaction markets jumped when any central bank in the world says jump. The S&P 500 gained 0.92% and the NASDAQ 1.27%. On Sunday, China’s…

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STTG Market Recap Apr 14, 2015

A quick pop at the open was immediately sold but then some mild buying came in Tuesday afternoon. All in all, a quiet day as the S&P 500 gained 0.16% and the NASDAQ fell 0.22%. The NASDAQ has been really outperforming of late so this was to a degree some reversion to mean between the two indexes. In economic news retail sales showed an increase of 0.9 percent , slightly below…

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STTG Market Recap Apr 6, 2015

After a holiday Friday, marred by a very weak employment report indexes initially opened down but “bad news = good news” returned very early Monday as the bad data led people to think the Federal Reserve will have its interest rate hike pushed out yet again. The S&P 500 gained 0.66% and the NASDAQ 0.62%. The Fed immediately sent out its minions to reassure markets that they have our…

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