Stock Market Thread - ALL COMBINED
- Thread starter vinnie
- Start date
I agree with dawg the chit goes some place else not here. This is for positive thinking only. And MJ was positive and didn,t need a answer. Politics to the politcal form.
This thread is for good people discussing the market, not backwards ass Texas retards bashing Obama.:nono:
Wells Fargo earnings surprise sends market highe
Wells Fargo earnings surprise sends market highe
don't play the stock market but here's an article that i just read & thought that you might find this interesting...
Stocks Soar on Wells Fargo Earnings
By STEPHEN BERNARD and TIM PARADIS, AP Business Writers Stephen Bernard And Tim Paradis, Ap Business Writers
NEW YORK ? Stocks bounded higher Thursday after banking giant Wells Fargo & Co. surprised the market with an early profit report that blew past analysts' expectations thanks to a strong pickup in its lending business.
Investors have been grasping at any sign of improvement in the crippled banking industry, and Wells Fargo's report Thursday that it expects first-quarter earnings of $3 billion provided an encouraging sign that a deep freeze in borrowing activity may finally be thawing. Wells Fargo said it benefited from its January acquisition of Wachovia and an increase in mortgage applications.
"The fact that Wells Fargo can have record profits despite the troubles facing the banking system tells you something," said Rick Campagna, chief investment officer at 300 North Capital in Pasadena, Calif. "It's very good news."
In the final hour of trading, the Dow Jones industrial average rose 225.96, or 2.9 percent, to 8,063.07. It was the blue chips' first trade over the 8,000 mark since Monday.
Broader stock indicators also jumped. The Standard & Poor's 500 index rose 26.87, or 3.3 percent, to 852.03, while the Nasdaq composite index rose 54.73, or 3.4 percent, to 1,645.39.
The report from Wells Fargo injected a decisively upbeat tone into the market after three days of choppy trading earlier this week, when the market appeared to be taking a breather after barreling ahead more than 20 percent in March. Analysts see occasional pullbacks as signs of a healthy market as investors allocate money carefully instead of just following a frenzied crowd.
Bank shares had been sluggish this week following worrisome forecasts from key analysts about the bad loans they still carry on their balance sheets and other long-term woes. Major banks begin reporting first-quarter profits next week.
Wells Fargo jumped 27 percent Thursday and several other major banks also rose smartly, including Citigroup Inc., up 10.7 percent; JPMorgan Chase & Co. up 12.7 percent, and Bank of America Corp. up 31.2 percent.
Investors appeared unfazed by uneven monthly sales reports from retailers and mixed economic news.
Wal-Mart Stores Inc. reported lower-than-expected sales in March, sending its shares down 2.5 percent, making it one of the only stocks to fall among the 30 companies that make up the Dow.
Target Corp. rose 5.9 percent after posting results that topped expectations, while teen clothing retailer Abercrombie & Fitch Co. slid 4.3 percent after its numbers came in weaker than expected.
In economic news, new jobless claims fell more than expected last week, but those continuing to receive unemployment benefits set another high. The total number of laid-off Americans receiving unemployment rose to 5.84 million from 5.75 million, the most on record since 1967 and more than analysts expected.
The jump in stocks comes at the end of a relatively quiet holiday week, when markets will be closed for Good Friday.
Investors have been worried in recent days that the upcoming corporate earnings season could bring bad news about how companies expect the rest of the year to turn out. But the market's tone brightened somewhat on Wednesday on reports that the government will provide support for battered life insurers and a merger deal between two major homebuilders.
Ted Aronson, a partner at Aronson-Johnson-Ortiz in Philadelphia, said Wells Fargo's upbeat preview into its earnings could place a greater burden on banks reporting results next week. Wells Fargo doesn't report its full results until April 22.
"I'm not sure everyone will be as successful, but we'd like to hope that the success will spill over," Aronson said.
In other trading, the Russell 2000 index of smaller companies jumped 23.07, or 5.2 percent, to 465.19.
More than six stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.06 billion shares.
Treasury prices fell as the stock rally damped demand for safe-haven investments. The yield on the 10-year Treasury note rose to 2.92 percent from 2.86 percent late Wednesday.
The dollar was mixed against other major currencies, while gold prices fell.
Light, sweet crude rose $2.73 to $52.11 on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average rose 3.7 percent following reports that the country's ruling party is seeking a stimulus package bigger than originally announced. Britain's FTSE 100 gained 1.5 percent, Germany's DAX index rose 3 percent, and France's CAC-40 rose 1.8 percent.
Wells Fargo earnings surprise sends market highe
don't play the stock market but here's an article that i just read & thought that you might find this interesting...
Stocks Soar on Wells Fargo Earnings
By STEPHEN BERNARD and TIM PARADIS, AP Business Writers Stephen Bernard And Tim Paradis, Ap Business Writers
NEW YORK ? Stocks bounded higher Thursday after banking giant Wells Fargo & Co. surprised the market with an early profit report that blew past analysts' expectations thanks to a strong pickup in its lending business.
Investors have been grasping at any sign of improvement in the crippled banking industry, and Wells Fargo's report Thursday that it expects first-quarter earnings of $3 billion provided an encouraging sign that a deep freeze in borrowing activity may finally be thawing. Wells Fargo said it benefited from its January acquisition of Wachovia and an increase in mortgage applications.
"The fact that Wells Fargo can have record profits despite the troubles facing the banking system tells you something," said Rick Campagna, chief investment officer at 300 North Capital in Pasadena, Calif. "It's very good news."
In the final hour of trading, the Dow Jones industrial average rose 225.96, or 2.9 percent, to 8,063.07. It was the blue chips' first trade over the 8,000 mark since Monday.
Broader stock indicators also jumped. The Standard & Poor's 500 index rose 26.87, or 3.3 percent, to 852.03, while the Nasdaq composite index rose 54.73, or 3.4 percent, to 1,645.39.
The report from Wells Fargo injected a decisively upbeat tone into the market after three days of choppy trading earlier this week, when the market appeared to be taking a breather after barreling ahead more than 20 percent in March. Analysts see occasional pullbacks as signs of a healthy market as investors allocate money carefully instead of just following a frenzied crowd.
Bank shares had been sluggish this week following worrisome forecasts from key analysts about the bad loans they still carry on their balance sheets and other long-term woes. Major banks begin reporting first-quarter profits next week.
Wells Fargo jumped 27 percent Thursday and several other major banks also rose smartly, including Citigroup Inc., up 10.7 percent; JPMorgan Chase & Co. up 12.7 percent, and Bank of America Corp. up 31.2 percent.
Investors appeared unfazed by uneven monthly sales reports from retailers and mixed economic news.
Wal-Mart Stores Inc. reported lower-than-expected sales in March, sending its shares down 2.5 percent, making it one of the only stocks to fall among the 30 companies that make up the Dow.
Target Corp. rose 5.9 percent after posting results that topped expectations, while teen clothing retailer Abercrombie & Fitch Co. slid 4.3 percent after its numbers came in weaker than expected.
In economic news, new jobless claims fell more than expected last week, but those continuing to receive unemployment benefits set another high. The total number of laid-off Americans receiving unemployment rose to 5.84 million from 5.75 million, the most on record since 1967 and more than analysts expected.
The jump in stocks comes at the end of a relatively quiet holiday week, when markets will be closed for Good Friday.
Investors have been worried in recent days that the upcoming corporate earnings season could bring bad news about how companies expect the rest of the year to turn out. But the market's tone brightened somewhat on Wednesday on reports that the government will provide support for battered life insurers and a merger deal between two major homebuilders.
Ted Aronson, a partner at Aronson-Johnson-Ortiz in Philadelphia, said Wells Fargo's upbeat preview into its earnings could place a greater burden on banks reporting results next week. Wells Fargo doesn't report its full results until April 22.
"I'm not sure everyone will be as successful, but we'd like to hope that the success will spill over," Aronson said.
In other trading, the Russell 2000 index of smaller companies jumped 23.07, or 5.2 percent, to 465.19.
More than six stocks rose for every one that fell on the New York Stock Exchange. Volume came to 1.06 billion shares.
Treasury prices fell as the stock rally damped demand for safe-haven investments. The yield on the 10-year Treasury note rose to 2.92 percent from 2.86 percent late Wednesday.
The dollar was mixed against other major currencies, while gold prices fell.
Light, sweet crude rose $2.73 to $52.11 on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average rose 3.7 percent following reports that the country's ruling party is seeking a stimulus package bigger than originally announced. Britain's FTSE 100 gained 1.5 percent, Germany's DAX index rose 3 percent, and France's CAC-40 rose 1.8 percent.
lol....don't have the patience to check the stocks daily....prefer reall estate...but getting tired of this also...
knock them dead my friend....:toast:
- Feb 12, 2000
- 10,652
- 39
- 48
- 50
Reading what AR posted and notice report about
wal mat qrter down and target was up. Then later in day listen to one of the talking heads at cnbc. A fund manager that said the play on that was reverse it. He expects target to lag next 2/3months and wal mart to do very well. Said it was a repeating play.
wal mat qrter down and target was up. Then later in day listen to one of the talking heads at cnbc. A fund manager that said the play on that was reverse it. He expects target to lag next 2/3months and wal mart to do very well. Said it was a repeating play.
- Feb 12, 2000
- 10,652
- 39
- 48
- 50
Market Week - End of April
Market Week - End of April
I think if you can short AAPL for a short-term trade, now is the time. If you can get it at 123 or higher, I think you can easily make a quick 10-20% on this trade.
Anything on the supposed ACTC news? I didn't see anything.
Market Week - End of April
I think if you can short AAPL for a short-term trade, now is the time. If you can get it at 123 or higher, I think you can easily make a quick 10-20% on this trade.
Anything on the supposed ACTC news? I didn't see anything.
- Feb 12, 2000
- 10,652
- 39
- 48
- 50
Well I don't know who you trade with :shrug: but I had one in @.75 it filled all 20,000 shares :00hour:00hour
I think you got in earlier in the day. I didn't put the order in until the afternoon.
Did yours fill at the very end of the day?
no it was earlier now I need it to sell @ .85 for a over the weekend profit of 2k :00hour
