Ken flagg's Blog Posts Tagged 'WRAPX' (33)

Today's action was focused on the comments from European Central Bank President Mario Draghi. During his press conference, Mr. Draghi failed to announce new measures to help stem the European debt crisis. The S&P 500 quickly dropped to 1,360 and hovered around that level until the final hour of the session. During the final 60 minutes stocks were able to recover a portion of their losses, and the S&P 500 finished down 0.7%.…

Stock futures haven't had much of a reaction to the latest data, mostly because there weren't any big surprises to the numbers. Personal income for August declined by 0.1%,  a 0.1% increase. The unexpected slip comes after income had increased by 0.3% in the prior month. However, personal spending increased by 0.2%, as had been broadly expected. Still, the pickup wasn't as strong as the 0.8% jump that was reported for the prior…

Stock futures haven't really had much of a reaction to the latest dose of data, mostly because there weren't any dramatic surprises to the numbers. Personal income for August declined by 0.1%, which contrasts with the consensus call for a 0.1% increase. The unexpected slip comes after income had increased by 0.3% in the prior month. However, personal spending increased by 0.2%, as had been broadly expected. Still, the pickup wasn't as strong as the 0.8% jump…

 Energy markets are mixed this morning, gold is back near the flat line, while silver is showing sharp losses. The dollar index is down 0.4% and is providing a boost to only select commodities.

Crude oil has been in negative territory all morning and fell to session lows of $97.81/barrel earlier this morning. It has since recovered about half of its losses and is now down 0.6% at…

 The stock market is coming off of its sixth straight weekly loss and the Nasdaq is now negative for the year, but only a modicum of relief buying has been displayed this morning. The narrow lead that stock futures currently hold over fair value comes amid mixed action abroad and a moderately weaker dollar. Other trading catalysts are limited this morning, given the dearth of corporate events in the news. There isn't any domestic data on tap for today…

 Stocks appear to be getting some relief after suffering a string of losses in recent sessions. The bid comes despite mixed action abroad and no changes to monetary policy by either the Bank of England or the European Central Bank. Both the euro and the sterling pound are holding on to fractional gains against the dollar in the wake of the decision. The euro could see some increased volatility when ECB President Trichet begins his press conference at the bottom…

 Futures are pointing to a sharply lower open following the disappointing jobs data. The weaker open will come on the heels of mixed trade overseas as the major Asian bourses (Nikkei -0.7%, Hang Seng -1.3%, Shanghai +0.9%) finished mostly lower but mixed while European markets (FTSE -0.7%, CAC -1.0%, DAX -0.5%) trade at their session lows.

Market chatter pointed to a possible rate-hike in China over the long…