Market commentary June 16

Dow Jones industrial average

16 June Open: 13-110. High: 11990.02 low: 11875.77 close: 11961.52 change: + 64.25 (+ 0.54 percent). Rsi: 33 MACD:-144Strategy: markets closed with fresh gains yet again after some relief from jobless data, entering purchase relief rally. However, the market shows signs of tire.

Overview: Stocks in the US gained a relief as jobless claims had fallen back some short buying at lower levels and fears about Greece's debt problems started quickly discounted at these levels.

The Dow Jones average of industrial gained 64.25 points or 0.54 percent to 11,961.52. The broad-based Standard and poor 500 index advanced 2.22 points, or 0.18%, to close at 1,267.64. However, the tech heavy Nasdaq composite index fell 7.76 points, or 0.3%, to 2,623.70.

The Dow was led by American Express 2.39%, Hewlett Packard 2.07%, Home Depot 1.83% and Cisco 1.42%. However, the Dow to close the lower included Alcoa-1.14%, 1%-Walt Disney, JP Morgan-0.80% and Du Pont-0.40%. 25 Dow components led Rally as only four index stocks from the Dow shed weight.

Utilities 0.8%, consumer staple 0.8% and 0.6%, Financials remained in focus areas.

To change an improved set of indicators, data released by State agencies, cheering on the market, sparking a relief rally.

The Labor Department reported new claims for jobless benefits fell 16,000 to 414,000 claims last week.

New construction began in may, 560,000 homes up to 3.5% from the previous month.

Prospects for the bailout of Greece has improved somewhat, after the IMF agreed to continue to support Greece via e-mail.

The new company, shares of BlackBerry maker Research in motion has plunged 15% in after-market after RIM cut full-year guidance and confirms the will start reducing jobs.

Kroger quarterly earnings rose to 70 cents a share, beating analysts ' expectations for 64 cents per share. Shares was 4.5%.

In M and A deals, equity transferring energy confirmed the move to buy Southern Union for $ 7.9 billion. Shares of South Union shot up 18%.

The dollar strengthened against the euro and British pound, but oversupply against the yen.

Oil for July delivery rose 14 cents to $ 94.95 a barrel,

Gold delivery slated for August won $ 3.30 to $ 1,529.90 a gram.

The day begins

Friday

Consumer sentiment in June

.. thanks for the confidence. you have shown in me and my business.

by Larry Swing
Larry@mrswing.com
Can the crib is with you ...

View the original article here

Market commentary June 17

Dow Jones industrial average

17 June

Opening: 11962.66

High: 89 12072.

Low: 11962.51

Close: 12004.36

Changed: + 42.84 (payroll employees%)

Rsi: 33 MACD:-144Strategy: markets closed with fresh gains yet again after some fresh hopes of agreement on the second bailout package offered in Greece has been improved, which brought relief to the markets of the rally. However, the market shows signs of fighting near 12,000 points.

Overview: Stocks at MAS gained for the second consecutive day on a relief as betting a bailout package offered in Greece has been improved, and a sharp decline in oil prices helped Dow close the week with gains after two and a half months near by.

The Dow Jones industrial average advanced 4.84 points or 0.33 per cent, to close at 12,004.36. The S and P 500 gained 4 points, or 0.3 percent, to 1,271.50, ending the week virtually flat. The tech-heavy Nasdaq composite however fell again by about 7 percentage points, or 0.3%, to 2,616.

The upheavals among the components of the Dow to push markets higher included Microsoft travellers 1,12%, 1.1%, JP Morgan 1.09% and IBM 1.09%.

The losers among the Dow components included Intel-1.07%, Cisco-0.53%, Alcoa-0.47% and Chevron-0.26%.

A total size of 23 Dow components advanced in the session, as well as for the other seven score.

Financials (+ 0.9%), Telecom (+ 0.8%), consumer discretionary (+ 0.7%) and consumer staples (+ 0.6%) areas remained in the spotlight.

The Greece bailout continued to watch movements as mode changes in the attitude of the participants in the EU. The Greece called a new Finance Minister and a former Defense Minister said would replace George as Minister of finance.

Meanwhile, German Chancellor Merkel ensured Andrea away from its previous statement that private banks be required to help bail out Greece's economy.

Another world economy related news, Moody's said a prison for a downgrade Italy creditworthiness.

The Conference Board's leading economic indicators rose by 0.8% in may, compared with a rise of 0.4% economists had forecasted.

However, data released continued to be mixed, with most recent consumer sentiment drop to 71.8 from over 74 in the previous month, showing confidence shaken in fresh generation of jobs. Analysts had forecasted level consumer sentiment to 73.5.

A M and a new chapter, a late Thursday said it plans to acquire e-banker ING Direct, making it the fifth-largest u.s. Gatherer deposit Bank shares fell by 0.5%.

BankRate.com shares fell 1% public debut. The website economics priced its initial public offering at $ 15 a share.

Deviation of the dollar against the euro, Yen and British pound.

Gold Futures for August delivery rose $ 9.20 at $ 1,529.20 a gram.

However, oil futures continued to exhibit correct and those marked for delivery July he came down from $ 93 a barrel.

The day begins

Monday

Any significant economic indicator

.. thanks for the confidence. you have shown in me and my business.

by Larry Swing
Larry@mrswing.com
Can the crib is with you ...

View the original article here