Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 3rd of July.
As we go into the long July 4th holiday weekend, we thought it would be interesting just to look at some of the trends that are persisting in the markets right now.
So let's get started.
LOOKING AT TRENDS IN THE: Continue reading "Today's Video Update: Have a Safe and Happy Fourth of July"
The number of Americans seeking unemployment benefits fell 5,000 to a seasonally adjusted 343,000 last week, a sign that layoffs remain low and companies are adding a modest number of jobs.
The four-week average, a less volatile figure, dipped just 750 to 345,500, the Labor Department said Wednesday. The average has fallen 9 percent in the past year.
Weekly applications for unemployment benefits are a proxy for layoffs. Since March, they have fluctuated roughly between 340,000 and 360,000, a level consistent with steady hiring.
On Friday, the government will issue its June jobs report. Economists forecast that it will show employers added 165,000 jobs, slightly below the 175,000 gain in May. The unemployment rate likely ticked down to 7.5 percent from 7.6 percent. The economy has added an average of about 175,000 jobs per month for the last two years. Continue reading "U.S. unemployment benefit applications fall"
Rumors and trademark filings from Taiwan to Turkey are fueling the Apple rally. It's no secret that the next big thing from Apple (NASDAQ:AAPL) is going to be an iWatch.
Is the iWatch going to be a game changer for Apple? Apple is one of the few technology companies in the world that has both the design and execution skills to bring a first-class smart watch to the market.
With Sir Jonathan (Jony) Ive heading up Apple's design team, the odds for a successful product being born out of Apple are good. Jony Ive is the same brilliant industrial designer who created many of Apple's biggest successes. Tim Cook, Apple's CEO, is coordinating and orchestrating supply chain logistics and marketing, and we're likely to see a first-class product coming out of Apple sooner, rather than later.
One thing Apple does perhaps better than any other company is to brand and develop a cult-like following. This was particularly evident when Steve Jobs, Apple's founder, was still with us. Many iPhone and iPad users will be quick to adopt whatever Apple is offering and with its huge installed base of users and cultists, it is going to be hard to see how this product could fail.
In today's video Continue reading ""A" Is For Apple And Its Upcoming iWatch"
The stock market turned negative in early afternoon trading Tuesday on news reports of political turmoil in Egypt.
Stocks had traded higher most of the day on positive news about the U.S. economy. But around 1:40 p.m. Eastern Daylight time, the market dipped below Monday's close. News emerged that Egypt's military had drawn up plans to suspend the country's constitution, dissolve its legislature and set up an interim government.
That development overshadowed good news about car sales, home prices and manufacturing, which led the market higher in the morning.
The Standard & Poor's 500 index had climbed as much as 9 points, or 0.6 percent, to 1,624. By 2:11 p.m. the stock index was down three points, or 0.2 percent, at 1612. Continue reading "Stock market falls after reports of Egypt turmoil"
The price of oil advanced past $98 a barrel Tuesday, underpinned by political unrest in Egypt that raised fears of disruption to global crude supplies.
By early afternoon in Europe, benchmark crude for August delivery was up 37 cents to $98.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $1.43 to close at $97.99 on Monday.
After massive weekend protests in Egypt that continued Monday, the country's military issued an ultimatum to President Mohammed Morsi that gives him 48 hours to meet the demands of the millions who have taken to the streets seeking his ouster.
The ultimatum, rebuffed by Morsi, raised worries on both sides the military could outright take over, as it did after the 2011 ouster of autocrat Hosni Mubarak. It also raised the risk of a backlash from Morsi's Islamist backers, including his powerful Muslim Brotherhood and hard-liners, some of whom once belonged to armed militant groups. Continue reading "Oil above $98 as protests rock Egypt government"
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