The Dow Jones Industrial Average and S&P 500 reached all‐time highs last week, 1,634 and 15,118 respectively, on favorable employment and housing news. Weekly initial jobless claims fell 4,000 to 323,000, the lowest level since January 2008. The four‐week rolling average declined by 6,250 to 336,750, its lowest since November 2007. Fannie Mae said it […]
Archives for May 2013
Market Summary – May 3, 2013
May 14, 2013 · Posted by ·
Earnings seasons and unemployment results were the major news bits for the week. With 80% of S&P 500 companies reporting, results have been uninspiring as sales have fallen 1.4% and earnings increased 2.4%. April jobs report produced a gain of 165,000 (140,000 forecasted), to bring the unemployment rate to 7.5%, the lowest level since 2008. […]
Market Summary – April 19, 2013
May 1, 2013 · Posted by ·
China’s GDP grew 7.7% year‐over‐year in the first quarter, an unexpected slowing and down from 7.9% in the final quarter of 2012. Because of wide‐scale global weakness, investors responded by selling off stocks and commodities, including gold, silver and copper. The price of a barrel of oil fell to $88. Gold futures tumbled more than […]