Markets

GM CEO Forced To Resign; Obama Rejects Bailout… For Now

By |2009-03-30T15:09:23+00:00March 30th, 2009|Markets|

General Motors and Chrysler seem to be running out of support in DC. In today’s speech, President Obama questioned the viability of both companies, saying more concessions were needed from stakeholders, while still emphasizing that he was “absolutely committed” to the survival of our domestic auto industry. Via MSNBC: President Barack Obama refused further long-term [...]

US Economic Calendar – March 30 – April 3

By |2009-03-30T09:37:30+00:00March 30th, 2009|Markets|

Weekly calendar of latest economic events and indicators, complete with full reports, charts, graphs, and in-depth analysis. Monday      GM CEO Wagoner Resigns - Full Story Tuesday      Consumer Confidence - Full Report Wednesday      ISM Manufacturing Index - Full Report, Charts/Analysis      ADP Employment Report - Full Report, Charts/Analysis      Pending Home Sales - Full Report, Charts/Analysis Thursday      Initial Jobless Claims [...]

Best Buy Results Beat Estimates

By |2009-03-26T14:21:45+00:00March 26th, 2009|Markets|

Best Buy Co., the largest consumer electronics retailer in the US, posted better-than-expected earnings results for the 4th quarter today:   Via MarketWatch: Shares of Best Buy Co. (BBY) had their biggest gain this year, after investors cheered a rosier-than-expected forecast and a smaller-than-expected 23% decline in fourth-quarter profit. The nation’s largest electronics retailer said sales exceeded its [...]

Economic Report: Jobless Claims

By |2009-03-26T10:26:09+00:00March 26th, 2009|Markets|

The number of people filing for first time unemployment benefits rose in the latest week, continuing its sharp upward trend that began during the first part of this new year. According to the US Department of Labor, for the week ending March 21st, initial jobless claims rose by 8,000 to stand at 652,000. That’s slightly off the highest levels seen since October [...]

Economic Report: New Home Sales

By |2009-03-25T11:19:41+00:00March 25th, 2009|Markets|

Sales of new homes in the US rebounded off their lowest levels on record in February, after a lackluster January in which sales were initially down over 10%. Sales jumed by 4.7% to a seasonally adjusted annual rate of 337,000 units, up from January’s initial estimate of 309,000, which was revised to 322,000 in today’s report. Despite the revision, [...]

Economic Report: Durable Goods Orders

By |2009-03-25T10:47:12+00:00March 25th, 2009|Markets|

Orders for US-made durable goods spiked higher in February, following a dismal January in which we saw total orders revised lower to a negative 7.3%. According to the Commerce Department’s monthly M3 Report, February’s durable goods orders jumped 3.4%, mostly on increased demand for machinery and other capital goods. The gain is the biggest in more than a [...]

Economic Report: Existing Home Sales

By |2009-03-23T11:11:41+00:00March 23rd, 2009|Markets|

Well it looks like the housing market is recovering very nicely, even without the long-awaited government’s bad-asset purchase plan in place. Resales of homes and condos in the US spiked higher in February, following a pullback in sales in January. Sales rose 5.1% for the month, from a seasonally-adjusted annualized rate of 4.49 million in January to 4.72 million. The number was above [...]

US Economic Calendar – March 23-27

By |2009-03-23T09:26:52+00:00March 23rd, 2009|Markets|

Weekly calendar of latest economic events and indicators, complete with full reports, charts, graphs, and in-depth analysis. Monday      Existing Home Sales - Full Report, Charts/Analysis Tuesday      None Wednesday      Durable Goods Orders - Full Report, Charts/Analysis      New Home Sales - Full Report, Charts/Analysis Thursday      Initial Jobless Claims - Full Report, Charts/Analysis      Gross Domestic Product - Full Report Friday [...]

S&P 500 Hits Resistance

By |2009-03-20T11:10:30+00:00March 20th, 2009|Markets|

The S&P 500 reached the 50-day moving average and has failed in its first attempt to break the downward trend. The index crossed the 800 level only temporarily before retracing its steps. In today's trading session, the VIX index has bounced off the very important support level at the 200-day moving average after temporarily breaking that level yesterday. [...]