Tag: Bitcoin (CME:BRTI)

Hello traders everywhere. For the first time this year, the S&P 500 posted its fifth straight weekly gain as traders shrugged off worries about the trade war between the U.S. and China. Strong corporate earnings have helped to push the index near its all-time of $2,872.87.

Berkshire Hathaway and Tyson Foods are helping to propel the S&P 500 higher after a weak opening. Berkshire Hathaway Inc (BRK.B) rose +3.7% after reporting a +67% surge in quarterly operating profit while Tyson Foods Inc. (TSN) gained +3.8% after the meat processor beat analysts' quarterly profit estimates due to strong demand for beef.

Of the 413 S&P 500 companies that have reported earnings so far, 79.2% have topped earnings estimates. That is well above the average of 72% for the past four quarters.

Facebook Inc. (FB) and PepsiCo Inc. (PEP) have led the NASDAQ into positive territory after opening lower on the day. Facebook gained +3.7% after the Wall Street Journal reported the company had asked large U.S. banks to share detailed financial information about their customers, as part of an effort to offer new services to users. PepsiCo rose +1.5% after the company said Ramon Laguarta, a company veteran with experience in international markets, would succeed Indra Nooyi as the chief executive officer. Continue reading "An All-Time High is Within Reach For The S&P 500" →

Hello traders everywhere. The stock market is ending the week just like it has spent most of the week, mixed. The NASDAQ is down on the day but will end the week in positive territory overall having bounced off support by way of the 50-day moving average and eeking out a gain of +.66%. The S&P 500 is following suit by gaining +.44%, and the DOW has fallen just short posting a weekly loss of -.23%.

The Labor Department announced that The U.S. economy added 157,000 jobs last month vs. an expected gain of 190,000. While the headline jobs growth number for July missed expectations, June's figures were revised substantially higher up to 248,000 from 213,000. Plus, wage growth met expectations growing by +2.7% in July on a year-over-year basis. Continue reading "Lackluster Jobs Report and Rising Trade Tensions" →

Hello traders everywhere. The stock market started out the day in positive territory mostly due to positive earnings for Apple Inc. (AAPL), which hit an all-time high of $201.32 and still trading +5% higher on the day. However, trade tensions between the U.S. and China have taken control of the market action and pushed stocks lower.

The Trump administration's unpredictability on trade has been in the spotlight in the last 24 hours after reports that talks between Washington D.C. and Beijing were set to resume were quickly overtaken by a threat to raise tariffs by 25%, instead of the initially proposed 10%, on $200 billion worth of imported Chinese goods. Of course, China vowed to retaliate if the United States slapped further tariffs.

The Fed decision, which is due at 2 pm EDT today is also weighing on traders minds. While a rise in interest rates is not expected today, discussion on trade or where the Fed is thinking of heading could be on the table and might provide clues as to their future moves. Will they still act on the two remaining rate hikes that they had mentioned earlier in the year? Continue reading "Trade Tensions Overshadow Apple Earnings" →