Stocks traded slightly lower for the day amid a sell-off in energy and material stocks but managed to pare losses in the final hour of trading. Commodities were in focus as silver prices tumbled nearly 8% as the CME will be raising margin requirements after the market closes today. Gold also sank, down nearly 1% for the day. Oil dropped $2.43 to $111.07 a barrel. In stock news: Alcoa surged amid talks… Read More ›
Daily Market Updates
The momentum in the stock market continued today in the wake of a mixed basket of earnings reports and ahead of the Microsoft earnings release which is expected after the close. Oil closed up a dime at $112.86 a barrel. New records were set in commodities with the dollar hitting a 3 year low, silver closing at a 31 year high near $50 and gold closing at an all time high of… Read More ›
Stocks hit new multi-year highs today as they gained momentum following Federal Chairman Ben Bernanke’s remarks, giving a longer run projection for economic growth, inflation and unemployment. The FOMC reiterated the need to continue to support the economy but did not express long term concerns about inflation. Oil closed up $1.05 a barrel to close at $113.26 and gold was up $9.60 to $1512.60 and ounce. A rush of earnings continued this… Read More ›
This is a daily market update.