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Today is a quadruple-witch day. Quadruple-witching occurs on the 3rd Friday of every quarter when index futures, index options, stock options and stock futures expire on the same day. Here is a look at how quadruple-witches have affected the markets.
At the March 9 bottom, the banks were falling fast and behemoths like Google were at risk of falling out of the Top 20 biggest companies in the S&P 500. Three months later, that has changed significantly.
"I think this is probably the March rally beginning to roll over, the question is how much of a correction does it turn into," Cashin told CNBC. "There's going to be a lot of jockeying around in the next few days."
With the futures pointing south this morning, the Nasdaq could be down for the fourth straight day while the S&P and Dow are right behind with a potential third day of declines. If the day closes down, this will be the first time we have seen streaks like this in awhile.
New U.S. housing starts and permits surged in May from record lows; and the producer price index (PPI) rose at a slower pace despite higher gasoline prices. What does it mean for the stock markets? Art Cashin, director of floor operations at UBS, offered CNBC his insights.
The Dow Industrials briefly turned positive for the year earlier this morning. WAHOO! But wait…the S&P 500 turned positive for 2009 nearly one month ago and is now up over 4.5% this year. So why the performance lag in the Dow (compared to the S&P)?
Both the Dow and S&P 500 tumbled Monday, marking their worst slide in a month, after manufacturing data and a commodities sell-off dragged down investor sentiment.
Investors are hoping to get a better handle on the direction of interest rates after St. Louis Fed president James Bullard spoke with CNBC.
The Dow, S&P and Nasdaq were all down over 2%, as of late this morning. While these moves are significant, we have seen drops like this before in this rally.
Stocks are entering a corrective phase and levels of high volatility are likely ahead, Bob Doll, Vice Chairman and Global Chief Investment Officer of Equities at BlackRock, told CNBC.
On a week where oil topped $73 per barrel for the first time in 8 months before receding on Friday, treasury auctions moved the equity market, and GM and Citi were replaced in the Dow, the markets are flat to positive on the week, but the Dow manages to go positive year-to-date.
The Nasdaq's 50-day moving average crossed over its 200-day moving average last week. Expect the same for the Dow and S&P in the days ahead.
Stocks declined, but ended well off their intraday lows, Wednesday after the 10-year Treasury auction, which had a much higher yield than expected.
As we mentioned earlier today, the major indices have posted strong gains during the current 3-month old bull market. This comes as the S&P flirts with a 7-month high, the Dow tests its January highs, and the Nasdaq hovers at 8-month highs.
Stocks skidded Wednesday as techs dragged and the jump in oil prices spurred worries about the recovery in consumer spending. Stocks had opened higher, buoyed by Home Depot's raised outlook, but those gains quickly faded.
Stocks opened higher Wednesday as oil prices jumped above $71 and Home Depot raised its outlook.
Yesterday's close marked the 3-month anniversary since the markets hit their closing lows on March 9. Here are the biggest gainers and losers on the S&P since then.
This morning's Wall Street theme might be "running in place". But Tuesday could see more action, with plenty of potential market moving events on the docket. Right now, U.S. stock index futures are pointing to a higher opening, and overseas markets have generally been higher as well.
The Treasury will hold its latest auction for 3-Yr notes this morning, 10-Yr notes tomorrow and the long bond on Thursday. Traders are watching to see whether demand will continue to fall in anticipation of Fed tightening in the months ahead.
With more chatter about Steve Jobs, a slew of giant Treasury auctions and signs that interest rates may be heading higher, how should you trade?