Category Archives: Economy

Down Down 100+; Nasdaq Off 1.5%

Stocks are down about 1% today as uncertainty about the timing of a rate hike as well as global growth continued to push stocks lower.

The Dow was down 170 points after falling more than 200 earlier.

Health care and energy were the greatest decliners in the S&P 500, which traded more than 1 percent lower.
Apple had fallen more than one and a half percent despite news that it sold more than 13 million new iPhone 6s and 6s Plus models in a record first weekend of sales.

The Nasdaq fell more than 1.5% pressured by a 3 percent decline in the iShares Nasdaq biotechnology ETF. The ETF fell further into bear market territory, or more than 20 percent from its 52-week high.

On Friday, the IBB plunged nearly 5 percent for its worst day since easrly 2014. The Dow closed more than 100 points higher, boosted by decent earnings.

“The big concern here is the market has deteriorated to a point that now even the leadership is faltering,” said Lance Roberts, head of Streettalklive.com.

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Retail Stocks May Be The New Winners

As the retail sector gained Monday, one group of suffering stocks led the way, jumping 1.2 percent: the multiline retail stock group, which includes names such as Target, Dollar Tree and Nordstrom.

The average national gas price recently fell to $2.29 from $2.33 a week ago, according to AAA’s Daily Fuel Gauge, translating into more available funds for consumer discretionary spending.

Barron’s wrote over the weekend that Dollar Tree is expected to outperform compared to estimates, based on long-term gains from its acquisition of  Family Dollar. The stock rose 1.8 percent on Monday.

Retail ETFs also seem to be at an inflection point and the money flow looks to turn positive.

After being down about 5% this calendar year, retail is moving higher and may one of the few winners by the end of the year.

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Stocks are mostly higher this morning, as investors eyed declines in oil prices and remained uncertain ahead of the key Federal Reserve meeting next week.

The major averages reversed opening losses to attempt slight gains.

Energy briefly fell more than 1.5 percent to lead nearly all S&P 500 sectors lower.

Oil trimmed losses after earlier falling about 3 percent or more after Goldman Sachs became the latest bank to cut price forecasts. Brent crude held about 2 percent lower near $47.80 a barrel and WTI crude traded about 1.7 percent lower to above $45 a barrel after earlier falling more than 3 percent.

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Dow down 100

Stocks traded lower as declines in oil weighed amid the July employment report that supported the case for a rate hike as early as September.

“I think the market’s successfully digested the nonfarm payrolls number and now shifting to fundamental drivers like the commodity complex,” said Art Hogan, strategist at Wunderlich.

Oil fell to just above $44 barrel and brent crude topped $49 a barrel. The Dow transports fell more than 1 percent.

The Dow 30 fell more than 100 points as consumer stocks continued a recent decline.

The July nonfarm payrolls report said that 215,000 jobs were added in July, with an unemployment rate of 5.3 percent.

 

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Nasdaq falls 1%, Dow falls 150

U.S. stocks lower despite surprisingly strong Amazon earnings, as signs of slower global growth weighed.

The major averages extended losses, breaking through support levels of about 2,088 on the S&P500 and 17,600 on the DJI.

The Dow Jones industrial average fell more than 150 points as Goldman Sachs declined and Chevron and Exxon Mobil hit multi-year lows with the continued decline in oil.

Another look at penny stock picks.

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Small-Cap and Growth Stock Funds Are Bright Spots

In the 2nd quarter, the Euro-Zone quivered, as Greece sparred with its creditors. In China, the stock market sank. U.S. markets fell only slightly, with small-cap and growth stocks showing gains and propelling mutual funds that focus on them.

A commitment to buying what Richard H. Gould, a portfolio co-manager, called “pure growth companies” produced two second-quarter standouts for Turner Investments — Turner Small Cap Growth Fund and Turner Emerging Growth Fund. Emerging Growth invests in stocks with a broader span of market capitalizations, Mr. Gould said. Small Cap Growth typically buys only companies with market capitalization of less than $2 billion.

 Continue reading at the New York Times

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Market will crash… don’t know catalyst: Marc Faber

Marc Faber

He’s calling for a 30 percent decline in the S&P 500.

The market is setting up for a big decline that could be as bad as the crash of 1987, according to Marc Faber, known as “Dr. Doom.” He just isn’t sure exactly what will set it off.

“The problem with crashes, you never know beforehand precisely what is the catalyst,” the publisher of the Gloom, Boom & Doom report told CNBC’s “Closing Bell.”

It could come from the credit market, equities being perceived as too expensive or a geopolitical event, he added.

Watch the video and read more.

His comments came a day after he told “Futures Now” that the asset bubble has begun to burst.

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Wall Street Week Ahead: Undervalued euro shares a hurdle for U.S. stocks

After Wall Street’s biggest weekly decline since June and the worst week this year for the Dow average, investors will be searching for a rebound. But the best gains may not be at home as investors take notice of an improved outlook in Europe.

Fund managers have started to shift to euro-zone equities after a series of economic indicators showed the region finally emerging from recession.

The region outperformed U.S. stocks in recent weeks, ending 0.2 percent higher this week while Wall Street underwent a 2 percent loss. For the month so far, the total return of euro-zone equities is around 1.9 percent compared to a 1.8 percent loss on the S&P 500.

The difference might also point to which parts of the U.S. market are likely to perform well after a long run by companies that do the lion’s share of their selling within America’s borders.

“The increase in volatility and uncertainty we’ve seen throughout the euro zone is finally coming to an end,” said Diane Garnick, chief executive of Clear Alternatives, an asset management firm in New York.

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