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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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

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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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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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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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Bulls Bounce Back Despite Headwinds

The stock market was mostly higher on Wednesday following the latest Fed minutes update from the September policy meeting. Members signaled they could start reducing support for the economy in mid-November, though they remained split on how much of an impact it would pose on inflation. In economic news, consumer prices increased 0.4% in September […]

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Whipsaw Action Continues Following Jobs Update

The stock market was choppy again on Tuesday following another update on jobs. The JOLTS report showed job openings fell 659,000 to 10,439,000 in August. This represented the first monthly decline of the year but follows the 913,000 surge to above 11 million in July. The major indexes traded in a tighter range and on […]

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Market Slips for the 2nd-Straight Session

The stock market opened with strong gains on Monday but closed near session lows as Wall Street awaits earnings seasons. The price of oil, which topped $82 a barrel, added to concerns over rising energy and commodity prices. The Dow traded to a low of 34,486 before finishing at 34,496 (-0.7%). Key support at 34,500 […]

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