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Mar 10, 2015
via Morning Bid with David Gaffen

The bull market ripens

Bull markets do not die of old age, as the saying goes, and with this current bull celebrating its sixth anniversary, that’s something investors are keeping in mind.

What commentators expect going forward for the next few weeks during a dry spell of information (no important earnings, too early for warning season, mostly second-tier economic figures for the past few days) is a consolidative-type move. It has already been going on ever since the Nasdaq managed to tip its way over 5,000 for a cup of coffee and has since been turned back by some pent-up selling that was clearly looking for the tech-heavy index to push through that 5K mark, at which point the buying exhausted itself and let the sellers take over.

Mar 10, 2015
via Morning Bid with David Gaffen

The bull market ripens

Bull markets do not die of old age, as the saying goes, and with this current bull celebrating its sixth anniversary, that’s something investors are keeping in mind.

What commentators expect going forward for the next few weeks during a dry spell of information (no important earnings, too early for warning season, mostly second-tier economic figures for the past few days) is a consolidative-type move. It has already been going on ever since the Nasdaq managed to tip its way over 5,000 for a cup of coffee and has since been turned back by some pent-up selling that was clearly looking for the tech-heavy index to push through that 5K mark, at which point the buying exhausted itself and let the sellers take over.

Mar 9, 2015

At long last, Dow gets a taste for Apple

NEW YORK (Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research), the largest U.S. company by market value, will join the Dow Jones industrial average .DJI, replacing AT&T Inc (T.N: Quote, Profile, Research), in a change that reflects the dominant position of the iPhone maker in the U.S. consumer economy.

The decision to nudge aside AT&T, which has been part of the Dow for the better part of a century, is a recognition of how communications and technology have evolved. It’s also a marker of Apple’s transformation, from a struggling company with a small, fervent following two decades ago, into the nation’s predominant consumer tech company.

Mar 6, 2015

Apple to replace AT&T in Dow industrials

NEW YORK (Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz), the largest U.S. company by market value, will join the storied Dow Jones industrial average .DJI, replacing AT&T Inc (T.N: Quote, Profile, Research, Stock Buzz), in a change that reflects the dominant position of iPhone maker in the U.S. economy and society.

The decision to nudge aside AT&T, which has been part of the Dow for the better part of a century, is a recognition of the way in which communications and technology have evolved over the last several decades.

Feb 27, 2015

Former AIG head Benmosche dies at 70

By David Gaffen

(Reuters) – Robert Benmosche, who headed insurer American International Group (AIG.N: Quote, Profile, Research, Stock Buzz) after a massive government bailout at the height of the financial crisis, died Friday at 70, the company said in a statement.

Benmosche, president and chief executive officer of AIG between August 2009 and September 2014, died at NYU Langone Medical Center in New York City. He had undergone treatment for lung cancer since 2010.

Feb 25, 2015

World stocks stay near all-time high after Fed signals

NEW YORK (Reuters) – An index of world equities stayed within reach of an all-time high on Wednesday as investors welcomed comments from Federal Reserve Chair Janet Yellen suggesting the U.S. central bank is in no rush to raise interest rates.

Markets were also supported by slightly better than expected Chinese factory activity data and U.S. sales of new homes.

Feb 24, 2015

Bonds, stocks rally, after Yellen emphasizes flexibility

NEW YORK, Feb 24 (Reuters) – U.S. equities rose and bond
yields fell after U.S. Federal Reserve Chair Janet Yellen said
on Tuesday it would be several months before the Fed expects to
boost interest rates, while European equity markets gained after
Greece locked in a four-month extension of its financial rescue
program.

Yellen said the Fed’s policy-setting committee is
considering interest rate hikes “on a meeting by meeting basis.”
She added, however, that a rate increase is not likely for at
least the next couple of meetings, and that the first hike would
not necessarily come after the Fed removes the word “patient”
from its forward guidance.

Feb 24, 2015

Global Market – Bonds rally, dollar falls after Yellen emphasizes flexibility

NEW YORK (Reuters) – The dollar edged lower and bond yields fell after U.S. Federal Reserve Chair Janet Yellen said on Tuesday it would be several months before the Fed expects to raise interest rates, while European equity markets gained after Greece produced a list of proposed economic reforms.

Yellen said the Fed’s policy-setting committee is considering interest rate hikes “on a meeting by meeting basis.” She added, however, that a rate increase is not likely for at least the next couple of meetings, and that the first hike would not necessarily come after the Fed removes the word “patient” from its forward guidance.

Feb 24, 2015

Bonds rally, dollar falls after Yellen emphasizes flexibility

NEW YORK, Feb 24 (Reuters) – The dollar edged lower and bond
yields fell after U.S. Federal Reserve Chair Janet Yellen said
on Tuesday it would be several months before the Fed expects to
raise interest rates, while European equity markets gained after
Greece produced a list of proposed economic reforms.

Yellen said the Fed’s policy-setting committee is
considering interest rate hikes “on a meeting by meeting basis.”
She added, however, that a rate increase is not likely for at
least the next couple of meetings, and that the first hike would
not necessarily come after the Fed removes the word “patient”
from its forward guidance.

Feb 24, 2015

Dollar, bond yields bounce, then fade after Yellen testimony

LONDON/NEW YORK (Reuters) – The dollar edged lower and bond yields fell after U.S. Federal Reserve Chair Janet Yellen said on Tuesday it would be several months before the Fed expects to raise interest rates, while European equity markets gained after Greece produced a list of proposed economic reforms.

In a subtle change of emphasis in how the Fed has been speaking about its plans for rate increases, Yellen said its policy-setting committee is considering interest rate hikes “on a meeting by meeting basis.”

    • About David

      "David Gaffen oversees the U.S. markets team, having joined Reuters in May 2009. He spent four years at the Wall Street Journal, where he was the original writer of the web site's MarketBeat blog. He is a frequent guest on Reuters TV, and has appeared on CNN International, Fox Business, NPR, and assorted other media and is the author of the book "Never Buy Another Stock Again.""
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