Hello traders everywhere. Stock markets around the globe are posting gains today as the tensions between the U.S. and North Korea have eased a bit. The S&P 500 and NASDAQ are both posting 1% gains with the DOW trailing closely on their heels.
Concerns over a rise in OPEC crude production has pushed oil down little over 1% to 48.13, its lowest level in slightly over two weeks. Check out Robert Boselego's recent article on OPEC's production numbers and where he sees the price of oil heading.
Gold has retreated from its Friday high of 1298.10 and is currently trading lower for the day coming under pressure from a strengthening dollar.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.4, down about 20%. The index posted its largest weekly gain since December 2015 last week as the North Korea situation escalated.
Key levels to watch this week: Continue reading "Stocks Gain As Global Tension Eases"
Hello traders everywhere. What are we waiting for you ask, inflation to pick up steam. The Labor Department announced Friday that the Consumer Price Index edged up 0.1% last month, versus expectations of a 0.2% gain. Traders scour the inflation data looking for clues on the Fed's next monetary policy move. It's going to be hard for the Fed to raise rates with weak inflation.
Market expectations for a December rate hike fell after the CPI data was released. Just 38% of investors expected the central bank to rates again at the end of the year, down from about 45%, according to the CME Group's FedWatch tool.
Do you think they are going to raise rates if inflation remains stagnant?
Key levels to watch this week: Continue reading "The Endless Wait Continues"
Hello traders everywhere. The DOW fell almost 150 pts this morning as tensions and worries over North Korea increased. U.S. stocks fell the most in a month, and the VIX reached its highest level since May as American allies warned North Korea against firing missiles toward Guam. Of course, the safe-haven assets advanced, with gold, the yen, and Treasuries all higher.
The NASDAQ is the big loser this morning, losing 1.38% and issuing a new red weekly Trade Triangle, indicating that a move to the sidelines is in order.
Key levels to watch this week: Continue reading "North Korea Brings Volatility To The Stock Market"
Hello traders everywhere. The DOW The DOW Continues its climb into record territory with a tenth straight day of gains. Overall, the stock market has been boosted in recent weeks by strong corporate earnings, and a strong July employment report on Friday added to the positive market sentiment. This week is filled with retail companies releasing quarterly results, including Michael Kors, Macy's and Nordstrom. Media giants Disney and News Corp. are also reporting this week.
Crude oil is retreating amid speculation that abundant supplies will weigh on the market, capping any rallies. Russia and Kuwait are said to meet producers such as Iraq in Abu Dhabi to discuss compliance with the OPEC production-cut deal.
Key levels to watch this week: Continue reading "The DOW Is looking To Post Its Tenth Day Of Gains"
Hello traders everywhere. Hello Traders everywhere. The DOW is trading at all-time highs today and is within reach of 22,000. On the flip side, the U.S. Dollar Index continues to head lower after posting a fifth straight monthly loss in July. This is partly due to a manufacturing report that showed that last month fell short of expectations and data showed Americans' spending barely grew in June.
The yield on the 10-year Treasury notes slipped to 2.26% while crude oil retreated after topping $50 a barrel.
Key levels to watch this week: Continue reading "DOW Hits Record High"