Author: The INO.com Team

3 Week Winning Streak Comes To An End

Posted on by The INO.com Team

The stock market fell on Friday, pushing the DOW, S&P 500, and NASDAQ into the red for the week, ending a three-week winning streak. Inflation fears overshadowed strong retail sales numbers and better-than-expected earnings reports as earnings season kicked off.

On the day the DOW lost 299.17 points or -0.86%, to close at 34,687.85. The S&P 500 dipped -0.75% to 4,327.16, and the NASDAQ lost -0.80% to 14,427.24.

On a weekly level, the DOW ended the week down -0.52%, while the S&P 500 dipped -0.97%, and the NASDAQ fell -1.87% for the week. Continue reading "3 Week Winning Streak Comes To An End" →

Weekly Stock Market Forecast

Posted on by The INO.com Team

This week we have a stock market forecast for the week of 7/11/21 from our friend Bo Yoder of the Market Forecasting Academy. Be sure to leave a comment and let us know what you think!

The S&P 500 (SPY)

SPY Daily Chart - Stock Market Forecast

The S&P 500 (SPY) has been quite volatile over the last week and broke out to the upside without a lot of bullish sponsorship as forecast.

The news from the Federal Reserve on inflation was seen as “good,” and the market rallied hard in a knee-jerk reaction into Friday’s close.

I’m still expecting to see this rally fizzle out by next week. Still, interestingly enough, I have found some stocks this week that are worthy of long exposure, so I will follow their observed supply/demand pressures and add them despite my unenthusiastic view on the S&P 500 itself. Continue reading "Weekly Stock Market Forecast" →

DOW Bounces Back To Set Record Close

Posted on by The INO.com Team

The DOW rose 448.23 points or +1.30%, to a record close of 34,870.16 on Friday, a day after losing 259.86 points. The S&P 500 gained +1.13%, closing at an all-time high of 4,369.55, and the NASDAQ rose +0.98% to close at a record of 14,701.92.

Friday's comeback brought all three major averages into green territory for the week, with the DOW gaining +0.25% for the week. In addition, the S&P 500 and NASDAQ both gained +0.40% and +0.43% since the beginning of the week, respectively. Continue reading "DOW Bounces Back To Set Record Close" →

NASDAQ and S&P 500 Hit Record Closes

Posted on by The INO.com Team

The U.S. stock market rose on Friday, with the NASDAQ and S&P 500 adding to their records for the week when both indexes closed at record highs. The NASDAQ closed up on the day with a gain of +0.81% or 116.95 points to close at 14,639.33, an all-time high. Not to be outdone, the S&P 500 closed that day up +0.75% or +32.45 points to close at 4,325.34, an all-time high. In fact, it rose for a 7th straight day after a strong jobs report, marking its best winning streak in 10 months. The DOW missed out on the record run this week, but it did finish the day up +0.44% or +152.82 points to close at 34,786.35.

On a weekly level, the NASDAQ rose +2%, while the S&P 500 and Dow climbed 1.7% and 1.1%, respectively. Continue reading "NASDAQ and S&P 500 Hit Record Closes" →

U.S. Crude Production Off In April 2021

Posted on by The INO.com Team

The Energy Information Administration reported that April crude oil production dipped 19,000 barrels per day, averaging 11.169 mmbd. This follows a gain of 1.415 mmb/d in March as production returned after the freeze in Texas. In addition, the April 914 figure compares to the EIA’s weekly estimates (interpolated) of 10.947 mmbd, a figure that was 222,000 lower than the actual 914 monthly estimate.

Monthly US Crude Production

A large decline in the Gulf of Mexico (92,000 b/d) caused a dip in U.S. production. However, that drop was largely offset by gains in Colorado (31,000 b/d), Texas (28,000), and New Mexico (17,000).

Given the huge reduction in May 2020, production dropped by 841,000 b/d over the past 12 months. This number only includes crude oil. Continue reading "U.S. Crude Production Off In April 2021" →