Author: The INO.com Team

Today's Video Newsletter: Uncertainty leads to choppy trading

Posted on by The INO.com Team

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Thursday, the 31st of January.

Uncertainty ahead of tomorrow's monthly jobs report is contributing to choppy trading today. Following yesterday's disappointing fourth quarter GDP report, the Labor Department released a report before the start of trading showing a bigger than expected rebound by weekly jobless claims.

The Labor Department said initial jobless claims rose to 368,000 in the week ending on January 26th, an increase of 38,000 from the previous week's unrevised figure of 330,000. Economists had been expecting jobless claims to climb to 350,000 after hitting a five-year low in the previous week. Continue reading "Today's Video Newsletter: Uncertainty leads to choppy trading" →

Fed to keep up stimulus

Posted on by The INO.com Team

The Federal Reserve said Wednesday that the U.S. economy "paused" in recent months because of temporary factors and reaffirmed its commitment to try to stimulate growth by keeping borrowing cheap for the foreseeable future.

The Fed took no new action at its two-day policy meeting. But it stood behind aggressive steps it launched in December to try to reduce unemployment, in a statement released after the meeting.

Last month the Fed said it would keep its key short-term interest rate at a record low at least until unemployment falls below 6.5 percent. The rate is currently 7.8 percent.

And it said it would keep buying $85 billion a month in Treasurys and mortgage bonds to try to keep borrowing costs low and encourage spending. Continue reading "Fed to keep up stimulus" →

Today's Video Newsletter: Will a name change save RIMM?

Posted on by The INO.com Team

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Wednesday, the 30th of January.

The big news today is that RIMM announced it will change its name to BlackBerry to maintain a single brand. It will have the ticker symbol "BBRY" on the Nasdaq Stock Market. Along with that news, they unveiled 2 new phones for their Blackberry 10 system. The questions remains, is this to little to late?

The markets are extremely flat and quiet today ahead of the Fed's monetary policy announcement due at 2:15 pm ET.

Let's take at look at the markets and see what the Trade Triangles are telling us.

Have a great trading day,
Jeremy Lutz

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Stocks advance, pushing Dow toward 14,000

Posted on by The INO.com Team

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000.

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing. Continue reading "Stocks advance, pushing Dow toward 14,000" →

Today's Video Newsletter: Consumer Confidence Plunges

Posted on by The INO.com Team

Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Tuesday, the 29th of January.

The markets have largely shrugged off a report from the Conference Board showing that U.S. consumer confidence fell to a fourteen-month low in January.

The Conference Board said its consumer confidence index tumbled to 58.6 in January from an upwardly revised 66.7 in December. With the decrease, the index fell to its lowest level since November of 2011. This drop is a direct reaction to smaller paychecks and uncertainty about the debt ceiling. Continue reading "Today's Video Newsletter: Consumer Confidence Plunges" →