Giovanny Moreano is a Quantitative Analyst at CNBC.
What many investors call a price correction in the commodities market has taken a toll recently, especially in the energy sector, but the gains of some of these commodities remain above 30% year-to-date. Is this a buying opportunity or not?
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
Nearly 1.2 billion shares and $14 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Nearly 1.4 billion shares and $16.9 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
Nearly 1.4 billion shares and $15 billion traded yesterday in CNBC's Million Dollar Portfolio Challenge. Check out the bets being made today...
For the week ending Friday, June 20, 2008, the markets dropped on disappointing earnings results from the financial sector, and a continued spike in crude oil prices added to investors' concerns over inflation. The Dow closed below 12000 on Friday for the first time since Mid-March.
For the week ending Friday, June 13, 2008, the markets were mixed on varied economic news, renewed credit concerns from Lehman and the financial sector, and of course, oil. A surprise increase in retail sales gave hope for economic growth and a rising CPI suggested a potential rate move on the horizon that could strengthen the dollar and begin to tame inflation.
For the week ending Friday, June 6, 2008, the markets finished in the red as the CBOE Volatility Index (VIX) again crossed above the 20 threshold and oil surged. Stocks were impacted by continued economic concerns, renewed trouble in the financial sector, and a record spike in crude oil on Friday. Although it was a negative week for the markets, the Dow managed a 200+ point rally on Thursday for the first time since 4/18, after retailers posted better than expected same store sales.
For the week ending Friday, May 30, 2008, the markets finished up, with all major indices increasing ~1.3% or higher for the week. Only the Dow declined for the month, shedding 1.42%. The NASDAQ reached its third consecutive monthly gain , up 4.55% for the month. The markets were encouraged by better than expected earnings from retailers and strong results from Dell. U.S. GDP for 1Q also helped lift stocks up, as it rose 0.9% at an annual rate , better than the previous estimate. Crude Oil also retreated to lower levels.
The latest jobs data show the economy added 203,000 jobs in November, while the unemployment rate hit a five-year low.
A strong sell bias continues among company insiders across the market, as stocks breach trough historic levels.
If history is an indication, the stock market could extend its rally into December.
Even with the sharp gains in stock prices this year, 70 percent of the Dow components still offer dividend yields greater than 2 percent.