Daily Market Updates

May 17, 2011

Markets were under pressure but closed off the lows of the day as the economy points to further signs of a slowdown, causing concern to investors.  In economic news, industrial output was unchanged in April, as factory production fell .4%, the first drop in 10 months, and housing starts fell 10.6% in April.  Oil fell to close near $97 a barrel Gold settled at $1483.50 an ounce Hewlett-Packard led the blue-chip index lower after news the… Read More ›

May 16, 2011

Markets struggled for direction today, trading in and out of positive territory, as investors remain concerned over the euro zone debt crisis and it’s affect on the economic recovery.  In US economic news, the Empire State Manufacturing Index fell to its lowest level since December 2010 and the $14.3 trillion debt limit was reached today. With that, stocks closed lower for the day.  The euro zone troubles pressured oil prices with oil… Read More ›

May 13, 2011

Stocks traded lower today as financial stocks fell amid fears of a worsening European debt crisis.  There was a further decline as the dollar rose against a basket of currencies after news that consumer sentiment strengthened.  the rise in the dollar put pressure on stocks of companies that benefit from a weaker dollar in overseas sales. Oil prices settled higher after trading lower much of the session.  Oil closed +.35 to 99.32 a… Read More ›

May 12, 2011

After being down as much as 90 points early on, stocks turned around and closed modestly higher for the day, following a rebound in commodity prices. Oil closed +$.76 to $98.97 a barrel. Gold was down $5.10 an ounce. In stock news: Cisco was the biggest laggard on the blue-chip index after the tech bellweather warned that it would perform worse than analysts had expected in the current quarter. Energy stocks were… Read More ›

May 11, 2011

Stocks paused for a breather after a 3 day rally as a slump in oil and metal prices dragged down the stocks of energy companies and materials producers.  A drop in the euro with Greece’s debt issues remaining on the forefront also put markets on edge. Demand for gasoline in the US fell by the largest amount in 7 weeks which signaled that consumers are conserving more money as gas prices near… Read More ›