Market Updates

 

Update for Oct 22nd:

The market finished the final session of the week in a mixed fashion. For the week, it managed to post a modest gain. It was the third straight weekly advance and the seventh of the past eight weeks. Volume was extremely light ahead of the weekend's G-20 meeting. Shares with stronger-than-expected earnings reports continued to see their shares respond rather well in general. Market leaders, such as Amazon.com and Baidu.com saw their shares hit fresh all-time highs following the latest earnings reports.
 
Most major sectors finished the session higher led by tech and energy. The CRB commodity index rose 0.6%. The US dollar was mixed against most currencies. Treasury yields were higher. The three-month US LIBOR was unchanged. The VIX index was lower. The market was mixed on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

 
Update for Oct 21st:

The market finished the Thursday modestly higher after touching a fresh 5-month high in early trading. Earnings continued to show positive surprises and more important, companies with better-than-expected results were able to see their shares respond positively. We had some mixed economic reports in today's trading. The latest initial jobless claims came at 452K, mostly in-line with expectations. The October Philadelphia Fed index hit 1.0, slightly below 1.5 widely expected. Leading Indicators for September increased 0.3%, in-line with expectations.
 
Most major sectors finished the session higher led by industrials and consumer discretionary. The CRB commodity index dropped 1.2%. The US dollar was up against most currencies. Treasury yields were higher. The three-month US LIBOR was unchanged. The VIX index was lower. The market was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

 
Update for Oct 20th:

 

The market rebounded sharply on Wednesday following yesterday's drop. Renewed weakness in the dollar along with another batch of better-than-expected earnings helped today's rally. Following yesterday's 1.7% surge, the dollar gave back 1.3% in today's trading, which in turn drove the materials sector to a 2.0% gain. The latest Fed's Beige Book showed that national economic activity continued to rise, albeit at a modest pace, from September to early October.
 
All 10 major sectors finished the session higher led by materials and energy. The CRB commodity index surged 2.0%. The US dollar was lower against most currencies. Treasury yields were lower. The three-month US LIBOR was unchanged. The VIX index was lower. The market was positive on both NYSE and Nasdaq. The volume was neutral compared to the previous session.

 
Update for Oct 19th:

The market tumbled on Tuesday with the Dow suffering its biggest loss in two months. A surge in the dollar was mainly responsible for today's drop. Earnings continued to come in better than expected. Apple handily beat expectations but saw its share drop over 2%. The stock had climbed in 10 straight sessions for a cumulative gain of about 14% ahead of the earning announcement so a selloff was not a surprise. Goldman Sachs, on the other hand, saw its share prices rise by almost 2% following a better-than-expected earnings report. The dollar gained 1.7% in today's trading, the best in two months following China's decision to hike its interest rates by 25 bps. Such hike was the first in 34 months.  
 
All 10 major sectors finished the session lower led by energy and materials. The CRB commodity index dropped 1.9%. The US dollar was up against most currencies. Treasury yields were lower. The three-month US LIBOR was unchanged. The VIX index rose by more than 1 point. The market was negative on both NYSE and Nasdaq. The volume was heavier compared to the previous session.

 
Update for Oct 18th:

The market started the new week with a strong note and all three major indexes were closed at their highest levels since April. A stronger-than-expected earnings report from Citigroup helped drive buying into financial stocks, which brought the KBW bank index to a 3.0% gain following the 4.5% loss suffered the week before. The economic data for the session came a little worse than expected. September industrial production unexpectedly fell 0.2% and capacity utilization also slipped a bit. But market participants in general ignored such negative news.
 
Most major sectors finished the session higher led by financials and health care. The CRB commodity index rose 1%. The US dollar was up against most currencies. Treasury yields were lower. The three-month US LIBOR was unchanged. The VIX index was barely moved. The market was positive on both NYSE and Nasdaq. The volume was lighter compared to the previous session.

 

 

 
 

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