By now you have probably heard of the horrendous screwup at Knight Capital. It seems that in the space of 15 minutes, Knight Capital lost $440 million with a software snafu. This is four times their earnings last year. They are now exploring their business options, which include seeking equity investments or selling the company outright.
What you probably didn't know is this: Continue reading "We Nailed Knight Capital"
U.S. employers added 163,000 jobs in July, a hopeful sign after three months of sluggish hiring.
The Labor Department said Friday that the unemployment rate rose to 8.3 percent from 8.2 percent in June.
July's hiring was the best since February. Still, the economy has added an average of 151,000 jobs a month this year, roughly the same as last year's pace. That's not enough to satisfy the 12.8 million Americans who are unemployed. Continue reading "US economy adds 163K jobs, rate rises to 8.3 pct."
European leaders on Thursday gamely promised to keep tackling the continent's debt crisis. But the markets wanted much more.
Stocks sank across the U.S. and Europe, the euro fell against the dollar and investors dumped bonds issued by the governments of Spain and Italy. Investors had been expecting more immediate action from the European Central Bank and were disappointed by the plan's lack of details, especially considering the ECB president's pledge last week to do "whatever it takes" to keep the euro intact. Continue reading "With no concrete action in Europe, stocks slump"
After ending the previous session notably lower, treasuries showed a strong move back to the upside on Thursday in reaction to the latest headlines out of Europe.
Bond prices moved sharply higher over the course of the morning but gave back some ground in the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 6.1 basis points to 1.478 percent. Continue reading "Treasuries Move Back To The Upside On News Out Of Europe"
Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 2nd of August.
As we mentioned on the MarketClub TV show yesterday, no word from the ECB or Mario Draghi spells doom and gloom for the markets. Talk is cheap and the market wants to see concrete action, not talk.
Remember Italy, Spain, Greece, and others owe a boat load of money. We do not believe there is any plan in action and politicians are just thinking of more and more ways to kick the can down the road.
We expect the market to be on the defensive for the balance of the week.
Now, let's analyze the major markets and stocks on the move using MarketClub's Trade Triangle Technology.
Click Here to view today's video
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