All posts by Todd Mitchell

S&P 500 Hits Record High

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The stock market maintained its upward bias on Thursday as better-than-expected economic news fueled sentiment along with positive Tech earnings. Initial unemployment claims checked in at 290,000, versus forecasts of 297,000, marking the second-straight week below 300,000. Tesla (TSLA) and Microsoft (MSFT) helped the Tech sector following blowout numbers while disappointing earnings from International Business […]

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Fed Bans Stock Trading, Restricts Other Investing Activities by Senior Officials

The U.S. Federal Reserve on Thursday banned individual stock purchases by top officials at the central bank and unveiled a broad set of other restrictions on their investing activities roughly six weeks after reports of active trading by some senior policymakers triggered an ethics uproar.The new rules will limit the types of financial securities the […]

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Blue-Chips Hit Fresh Record High

The stock market showed ongoing momentum on Wednesday with the blue-chips setting a fresh record high. Another round of upbeat earnings extended a streak of strong quarterly reports that started with the big banks last week. Technology lagged a bit while the small-caps were the strongest index. Meanwhile, volatility continued to fade as it faces […]

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Bulls Stay Strong on Upbeat Earnings

The stock market showed overall strength for the fifth-straight session following positive earnings results from a number of high profile companies. Johnson & Johnson’s (JNJ) provided a big boost of confidence after the company raised its 2021 profit forecast while Travelers (TRV) also topped estimates. The S&P 500 tested an intraday high of 4,520 before […]

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Nasdaq Reclaims 15,000 Level

Nasdaq

The stock market recovered from a lower open on Monday to close mostly higher for the fourth-straight session. News that China recorded its slowest pace of quarterly economic growth in a year weighed on sentiment to start before enthusiasm over 3Q earnings this week helped the major indexes rebound off the lows. The blue-chips slacked […]

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Extreme Option Profits Chart of Day…Tesla (TSLA)

Pay close attention to climate change stocks. President Biden is getting set to travel to Europe, with plans to discuss the global climate change issue. That could be a major boon for solar, wind, hydrogen, and even electric vehicle stocks.  All should perform well as the world pushes for a greener future. While in Europe, […]

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Colin Powell, former secretary of state, dead at 84 from COVID-19 complications

Gen. Colin Powell, the influential former secretary of state and chairman of the Joint Chiefs of Staff who played a pivotal policy role during the administration of then-President George W. Bush, died Monday at 84 from complications related to COVID-19, his family announced.”We have lost a remarkable and loving husband, father, grandfather and a great […]

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Bulls Stay Strong Despite Mixed Economic News

The stock market was mostly higher on Friday despite underwhelming economic news as strong earnings outweighed the disappointment. Business inventories were up 0.6%, just shy of forecasts of 0.7%, while consumer sentiment slipped -1.4 points to 71.4 in the preliminary October reading.   The October Empire state manufacturing index checked in at 19.8, versus expectations […]

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Bellwether Banks Bust Through Profit Estimates

The four largest U.S. consumer banks posted another strong quarter this week as the rebounding economy allowed them to release more cash they had set aside for pandemic losses, while sizzling deals, equity financing and trading also boosted their bottom lines.JPMorgan Chase, Citigroup, Wells Fargo and Bank of America Corp. — seen by analysts and […]

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3Q Earnings Powers Bulls Past Key Resistance Levels

The stock market rallied on Thursday as the start of the third-quarter earnings season heated up with the big banks and a few of the blue-chip members reporting better-than-expected numbers before the bell. Falling interest rates also helped Tech stocks with the benchmark U.S. 10-year Treasury yield sinking over 3 basis points to under 1.52%. […]

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