No need to worry about the Fed ending QE with mixed economic data: Durable goods orders fell in March as businesses cut back on investment in capital equipment. The Commerce Department said durable-goods orders for long lasting manufactured goods fell by 5.7 percent from the prior month. Some of the decrease in durable goods orders…
Associated Press Tweet Causes Flash Crash, Rattles Markets: The Dow Jones Industrial Average fell precipitously after a tweet from the Associated Press claimed the White House had been attacked and that President Obama was hurt. The tweet occurred at 1:07 pm and at 1:16 pm, AP confirmed the account had been hacked at a White…
Follow Through From Last Week Occurs – Finally: Stocks rebounded yesterday after rising late in the session last week. The follow through upward movement was welcome for bullish traders since the market has been rangebound recently. The rise in stocks came on no economic news but the market appeared to be oversold short term. Traders…
Sequestration and the Payroll Tax Increase Delayed Effects Set In: Stocks fell yesterday after a dismal jobs report was announced for March 2013. U.S. equities dropped in the pre-session trading after the jobs number showed only 88,000 additional people were employed for the month. Once again the labor participation rate stunned observers as people wondered…
U.S. Companies Add 158,000 Private Jobs U.S. companies added a meager 158,000 in March 2013 according to ADP and this was far below what most economists expected. The increase in private sector jobs in March was slightly below the mean for the last few months and way below what would be considered expansionary. This leaves…
