Stocks continued to slide on Friday on some weak earnings reports that eclipsed strong results from big techs. John Lekas, CEO and portfolio manager of Leader Capital and Scott Redler, chief strategic officer at T3live.com shared their market views.
U.S. stocks managed to close the week in positive territory, up about 1% or greater. The Dow Jones industrial average settled above the 10,000-level twice this week, reaching its highest close in a year.
At this moment in time, it is the best earnings season ever on record. You heard that right.
Stocks pared some of their earlier losses but were still lower as disappointing results from Bank of America and General Electric eclipsed strong results from big techs.
Should you buy into Friday's weakness? Will you thank yourself in November? Or is it time to unwind your long positions?
Stocks skidded at the open Friday as disappointing results from Bank of America and General Electric eclipsed strong results from big techs. They slid further — with the Dow down 100 points — after a report showed a surprise drop in consumer sentiment.
Futures indicated a lower open for Wall Street Friday, as mixed earnings from General Electric eclipsed strong results from big techs.
Earnings reports from General Electric and Bank of America are the big numbers for markets Friday, and they matter nearly as much in the foreign exchange and Treasury markets as they do in the stock market.
After hours the Fast Money traders were closely watching the action in IBM and Google as they sorted through earnings reports from both companies.
The Dow pulled off a nearly 50-point gain Thursday after a topsy-turvy session as the boost from oil's rally ultimately beat out disappointment in earnings from Goldman Sachs and Citigroup.
IBM: more sell on the news…. down 5 percent after the close…earnings and guidance was just not enough, it’s a simple as that.
Intel's report was blockbuster, plain and simple, and the key takeaway is that the news isn't merely "less bad," but finally "good
The amazing thing about Google ahead of its earnings tonight is the lack of humility.
Traders applied the brakes Thursday, a day after the Dow topped 10,000, as Goldman Sachs and Citigroup proved no match for Wall Street's inflated earnings expectations.
Dow Jones 10,000 arrived on Wall Street Wednesday for the first time in a year. It’s a milestone of sorts, and it certainly represents a vote for investor confidence in economic recovery. Blowout profit reports form Intel and JPMorgan helped fuel today’s 145 point gain. So did a retail sales report that excluding Cash for Clunkers was actually quite strong.
The news was deservedly dominated by Tuesday's better than expected Intel report and then by the superb earnings announcement from J.P. Morgan. Jamie Dimon knows how to run a financial company. But as good as the earnings news is shaping up to be, at least in these early stages, the area that produces over 60% of jobs in America is still struggling.
Stocks pared their losses Thursday after a third straight positive Philly Fed reading — the first time that's happened in two years. Stocks had opened lower after disappointment in earnings from Goldman Sachs and Citigroup.
After Wednesday's stellar market performance, stock index futures indicated a lower open for Wall Street on Thursday as investors take a breather and evaluate their next move.
One benefit of the recession is that inflation is nowhere to be seen, as consumer prices have barely grown in months.
While cheers could be heard on the floor of the New York Exchange when the Dow broke the 10,000 mark on Wednesday, Bill Smith, CEO and president at SAM Advisors, said the move did not have much significance.