Commentaries

Into the breach with stocks

July 20, 2009

It’s hard to ignore the momentum in the U.S. stock market.

Over the last week, solid second quarter earnings, the last-minute save of the troubled lender, CIT Group Inc, by bondholders and a rosier stock outlook from Goldman Sachs analysts have conspired to make investors feel good again about stocks. The benchmark Standard & Poor’s 500-stock index has responded in kind.

The debt nightmare is still with us

July 15, 2009

Pouring trillions of dollars into the global financial system has done more than pull the world away from the abyss.

IPO.not

July 13, 2009

The optimist will take this bit of IPO news as a sign the equity markets really are springing back to life.

Markets knocking the stuffing out of the optimists

July 8, 2009

Treasurys are up after a stellar auction of $19 billion reopened 10-year notes, stocks are floundering as investors worry about the economy and earnings season. More and more it feels like the pessimists have decisively turned the tide.

Financial markets fall into Monday rut

July 6, 2009

If things continue like this, investors will have to start calling the start of the week “mopey Monday.”

Markets ending the first half with a whimper

June 30, 2009

Stocks are on their back foot with the DJIA off by nearly 1% points at 8,449 and the S&P down nearly 0.8% at 919 as a gloomier than expected consumer reminded the few trading this week that a snapback in the U.S. economy is hardly a slam-dunk.

World Bank, Moody’s fighting for hearts and minds of stocks

June 23, 2009

Has it really come to this? Reuters is reporting that U.S. stock futures point to strong start to the day due to ratings firm Moody’s Investors Service affirmation of the U.S. AAA rating. This comes just one day after the World Bank’s call for a 2.9% decline in global output this year had stocks go splat around the world.

Wall Streets waits for Godot

June 12, 2009

Stocks, for little over a week, have been stuck in neutral.

On June 4, the Dow Jones closed at 8,750. And with a little less then two hours to go in the current trading week, the Dow was trading at 8,759. Come on, we can do it. All we need is to drop another 9 points.

Oil off the charts, Treasury yields less of a conundrum

June 10, 2009

Oil making a 7-month high overnight is getting markets into a twitter.  The a drop in crude stocks is the driver, adding fuel to hopes that an economic recovery is on the horizon.  A weakening U.S. dollar also doesn’t hurt. Blogger Macroman, however, makes an interesting point: the demand for crude doesn’t seem to be driven by China – the usual culprit behind sharp rises in commodities.