Daily Market Updates

May 10, 2011

Corporate deals and strong earnings are credited with stocks continued moves higher and today we saw a bit of each. We also saw a trade surplus that was 4X higher than expected coming out of China which renewed hopes of economic growth for investors. Oil closed up $1.10 at 103.65 a barrel. Silver was up more than 4%. Gold settled at $1516.90 an ounce. In stock news: Microsoft announced its plans to… Read More ›

May 9, 2011

News before the market opened that Standard & Poor’s was downgrading Greece to near junk status sent the dollar higher and pressured stocks. But that sentiment reversed mid-morning and the dollar traded lower against other major currencies. Stocks held firm gains for the day as commodities strengthened, with a rebound in oil and precious metals taking center stage and pushing energy and materials sectors higher. Oil rebounded after Friday’s selloff, up over… Read More ›

May 6, 2011

Stocks stabilized in the final hour of trading after spiking early on in the aftermath of a surprisingly strong report on jobs growth in April. Nonfarm payrolls for April showed a jump of 244K jobs, which was far above the 186K that was expected. The markets lost steam midday after a report that Greece has talked about leaving the euro zone and amid falling oil prices and sliding energy stocks. Oil continued… Read More ›

May 5, 2011

Stocks tumbled today led by a steep selloff in commodities across the board. After oil settled below $100 a barrel, the broad market losses extended in the last hour of trading after the CME raising price limits on crude oil. Oil closed at $98.35 a barrel. Silver was down another 11%, closing below $35 an ounce. Gold was down near 3%. In stock news: Energy and commodity related stocks were much lower…. Read More ›

May 4, 2011

Stocks traded lower across the boards today as investors took a breather following disappointing economic news and a sell-off in commodities. In economic news, the non-manufacturing index fell more than expected and the ADP Employment report for March was revised down to 179K jobs created rather than the initial 207K. Investors are awaiting the key government labor market report due out Friday for a better look into the employment picture. Commodity prices… Read More ›