Consumer confidence slipped in June

By ANNE D'INNOCENZIO
AP Retail Writer

(AP:NEW YORK) Americans can't seem to shake their uneasy feeling about the economy.

Consumer confidence fell in June for the fourth straight month in the row as lingering worries about the economy outweighed relief at the gas pump.

The Conference Board says Tuesday that its Consumer Confidence Index is now at 62, down from 64.4 in May and the 63.2 analysts were expecting. The index remains well below the 90 reading that indicates a healthy economy _ a level it hasn't been near since the recession began in December 2007. But it's far from the all-time low of 25.3 reached in February 2009. Continue reading "Consumer confidence slipped in June"

Futures Pointing To Modestly Higher Open

(RTTNews) - After moving sharply lower over the course of the previous session, stocks may regain some ground in early trading on Tuesday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

Bargain hunting is likely to contribute to any early strength on Wall Street after worries about the ongoing European debt crisis dragged the major averages firmly into negative territory on Monday.

Nonetheless, the lingering concerns about the financial situation in Europe are likely to keep buying interest relatively subdued. Continue reading "Futures Pointing To Modestly Higher Open"

Chart of the Week

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

The August Gold Futures suffered through a disappointing week for Gold Bugs in the week ending on June 22nd. The chart began to show very serious promise when buyers began to speculate that the US FED would announce another round of easing. This anticipatory rally drove the market to and through an important trendline that ended at the critical $1600 price. Closes above this level had bulls feeling confident, and bears worried about the next target above the prior June high. Continue reading "Chart of the Week"

Daily Video Update: Psst, brother can you spare 100 Billion Euros for Spain?

Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Monday, the 25th of June.

Let's get serious... Spain is the fourth largest economy in Europe and it is asking for a 100+ billion Euros to bailout the banks. That's got me really concerned and I don't believe the politicians have an answer that they can live with and stay in office. All politicians have done for the last 2 1/2 years is kick the can down the road and there's no indication that is going to change anytime soon.

Now look at Greece, a small economy compared to Spain, but here you have the prime minister and his finance minister suddenly ill and not able to attend the 14th summit meeting on the European problems on the 28th. What does that mean? Well, it's a delay tactic and once again kicking the can down the road. No politician wants to face the inevitable. I think there's going to be a lot of pain and some major haircuts involved, it's impossible to avoid that. If you did not see my video this past weekend on the S&P 500, I strongly recommend you watch it and see the conclusions I draw from an amazing recurrent pattern. Continue reading "Daily Video Update: Psst, brother can you spare 100 Billion Euros for Spain?"

Stocks Posting Steep Losses

(RTTNews) - After moving sharply lower at the open, stocks continue to see substantial weakness in mid-day trading on Monday. Lingering concerns about the ongoing European debt crisis are weighing on the markets amid worries about the impact on the global economy.

The major averages are currently posting steep losses, just off their worst levels of the day. The Dow is down 165.59 points or 1.3 percent at 12,475.19, the Nasdaq is down 59.32 points or 2.1 percent at 2,833.10 and the S&P 500 is down 24.04 points or 1.8 percent at 1,310.98. Continue reading "Stocks Posting Steep Losses"