Category: General

Stocks Close Modestly Lower

Posted on by The INO.com Team

(RTTNews) - Stocks showed a negative bias throughout much of the trading day on Wednesday, ending the session modestly lower. A negative reaction to the minutes of the latest Federal Reserve meeting weighed on the markets, although stocks closed well off their worst levels of the day.

While the Dow and the Nasdaq ended the session firmly in negative territory, the S&P 500 closed roughly flat. The S&P 500 edged down 0.02 points or less than a tenth of a percent to 1,341.45, while the Dow fell 48.59 points or 0.4 percent to 12,604.53 and the Nasdaq slid 14.35 points or 0.5 percent to 2,887.98. Continue reading "Stocks Close Modestly Lower" →

Officials warn of looming crisis for economy

Posted on by The INO.com Team

By MARTIN CRUTSINGER
AP Economics Writer

(AP:WASHINGTON) The Federal Reserve is open toward taking further action to support the struggling U.S. economy. But minutes of the Fed's June meeting show policymakers are at odds over whether the economy needs more help now.

A few said the economy may already require additional support. But several others noted that further action "could be warranted" if the recovery lost momentum, if risks became more pronounced or inflation seemed likely to run below the committee's target.

Investors appeared to be disappointed by the division within the Fed. Continue reading "Officials warn of looming crisis for economy" →

Currency Commentary for Wednesday

Posted on by The INO.com Team

The September Dollar was lower due to profit taking in overnight trading as it consolidates some of last week's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, June's high crossing at 84.00 is the next upside target. Closes below the 20-day moving average crossing at 82.49 would temper the near-term friendly outlook. First resistance is Tuesday's high crossing at 83.65. Second resistance is June's high crossing at 84.00. First support is the 20-day moving average crossing at 82.49. Second support is the reaction low crossing at 81.56. Continue reading "Currency Commentary for Wednesday" →

Stocks fall for a fourth day as tech profits slump

Posted on by The INO.com Team

(AP:NEW YORK) Stocks are dropping for the fourth straight day Tuesday following a profit slump at technology companies and steep decline in oil prices, which sent energy stocks sharply lower.

A half-hour before the closing bell, the Dow Jones industrial average was down 106 points at 12,630.

Chip maker Advanced Micro Devices fell sharply after reporting that a slowdown in China and Europe led to an 11 percent slump in second-quarter revenue. The company had previously forecast a gain of 3 percent. Other technology companies also fell. Continue reading "Stocks fall for a fourth day as tech profits slump" →

Morning Commentary for the Precious Metals

Posted on by The INO.com Team

August gold closed higher due to short covering on Monday as it consolidated some of last Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews the decline off June's high, May's low crossing at 1529.30 is the next downside target. If August renews the rally off June's low, June's high crossing at 1642.40 is the next upside target. First resistance is June's high crossing at 1642.40. Second resistance is reaction high crossing at 1674.30. First support is June's low crossing at 1547.60. Second support is May's low crossing at 1529.30. Continue reading "Morning Commentary for the Precious Metals" →