Market Wrap

With the government back in business and the debt ceiling raised, the S&P leapt to a record high. The federal government will be reopened until January 15 and the country can continue to borrow funds until February 7. The biggest companies to report earnings today include Philip Morris (...

Toward the end of trading Wednesday, the Dow closed up 1.36 percent to 15,373.83 while the NASDAQ surged 1.20 percent to 3,839.43. The S&P also rose, gaining 1.38 percent to close at 1,721.54. Top Headline Bank of America (NYSE: BAC) reported a rise in its third-quarter profit. Bank of...

Government default and earnings will be the talk of the week as the government default date nears and almost 100 companies are expected to report earnings this week. Keep in mind that little economic data is released this week. Markets rallied this afternoon as news broke that president Obama...

Markets leapt higher as investors anticipate an increase in the debt ceiling. President Obama is set to meet with Republicans this afternoon and Treasury Secretary Jack Lew recommended the increase. Major Averages The Dow Jones Industrial Average spiked 323.09 points, or 2.18 percent, to 15,...

At the end of trading Wednesday, the Dow closed up 0.18 percent to 14,802.98 while the NASDAQ declined 0.46 percent to 3,677.78. The S&P also closed up 0.06 percent to 1,656.40. Top Headlines President Barack Obama announced his nomination of Janet Yellen to succeed Ben Bernanke as...

Tuesday kicked off earnings season as Alcoa (NYSE: AA) reported earnings after the close. Markets are reacting stronger to the government shut down each day as the likelihood for the first US default continues. The Nasdaq led the way down Tuesday as technology [Apple (NASDAQ: AAPL)] and...

Monday was a light day for news and correspondingly light volume. On top of this was very little economic data. This is the seventh day of the government shutdown and fears are escalating that the government will default on its debt. At last check, ten year treasuries were sitting as a two...

The satirical story of the day (and probably week) is that shares of TWTRQ (OTC: TWTRQ) shooting higher as investors confused them for Twitter, which is yet to IPO. Shares were last up 684.62 percent before being halted. As the government shutdown continues, Lockheed Martin (NYSE: LMT)...

The the debt ceiling battle presses on, equity markets do not seem to be taking notice. After yesterday’s gains, major indexes suffered small losses Wednesday. The value of the dollar continued to tumble downward and is now the weakest it has been against the euro in eight months. Over the past...

For the first time in a month, the Dow had a negative week after trading down four days this week. Top news items include consumer confidence, personal income figures, and BlackBerry’s (NASDAQ: BBRY) disappointing quarter. Major Indexes The Dow Jones Industrial Average dropped 70.06 points...

Markets started the day bounding higher after initial jobless claims hit a six year low, despite a GDP miss. It was announced that JPMorgan (NYSE: JPM) may pay 11 billion dollars to settle with the Justice Department for questionable mortgage securities that helped cause the 2008 recession. To...

At the end of trading Wednesday, the Dow closed down 0.40 percent to 15,273.26 while the NASDAQ dropped 0.19 percent to 3,761.10. The S&P also fell, declining 0.27 percent to 1,692.77. Top Headline AutoZone (NYSE: AZO) reported a 15% rise in its fiscal fourth-quarter earnings. AutoZone's...

At the end of trading Wednesday, the Dow closed up 0.95 percent to 15,676.94 while the NASDAQ jumped 1.01 percent to 3,783.64. The S&P also rallied, gaining 1.22 percent to 1,725.52. Top Headline The FOMC statement dominated headlines this afternoon after it surprised investors, holding QE...

At the end of trading Tuesday, the Dow closed up 0.23 percent to 15,529.73 while the NASDAQ closed up 0.75 percent to 3,745.70. The S&P also rose, closed up 0.42 percent to 1,704.76. Top Headline FactSet Research Systems (NYSE: FDS) reported a 5% rise in its fiscal fourth-quarter earnings...

After being hammered last month, markets finished the week out with huge gains. The Dow is the biggest winner, up more than three percent for the week. Major Indexes The Dow rose 75.42 points, or 0.49 percent to close at 15,376.06. The S&P 500 added 4.57 points, or 0.27 percent to close...