Online shoppers hit Amazon’s Amazon Prime Day promotion hard. The stampede caused the company's retail website to experience serious connectivity issues Monday. Also on Monday, Netflix reported great profit numbers after the closing bell. But the Netflix new subscriber tally disappointed Wall Street. Badly.
Oil makes a feeble attempt to recover, but Thursday stocks market still lacks conviction as Washington continues to fiddle while the economy stalls.
After robustly bullish Monday trading, stocks and commodities catch the vapors in Tuesday trading action as crude inventories build. WTI off 3 percent.
Demand for crude oil also reduces U.S. stockpiles, fueling big Wednesday energy rally. S&P 500, NASDAQ up, Dow down. Comey firing somehow to blame?
March market action looks more and more like a sideways correction to the Trump Rally. Crude oil, gold get back in the game.
Meanwhile, oil catches a bid after recent downdraft while gold jumps, then takes a hit. Financials try to regain footing. “Animal spirits” back on Wall Street?
But traders in black gold—extractors, refiners, and exploration and pipeline companies—soar post-OPEC agreement to cut production.
OPEC move drives crude oil stratospheric, techs take a hit, banks, insurers speeding away on cruise control.
Tuesday’s stock action was poor. Naturally, Wednesday trading is good. as confusing market largely ignores traditional indicators. Oil up, jobs down says ADP.
DOJ penalty vs. Deutsche Bank for alleged pre-2008 mortgage lending transgressions rumored much lower than estimates. Oil trading flat, Nutanix IPO a rousing success.
Surging oil price hammers utilities, as TIPS finally catch a bid as investors apparently choose to rotate out of stocks that serve as bond proxies.
WASHINGTON, April 19, 2016 – We’ll try to keep things short today since Tuesday’s stock market action has us confused once again, although that’s been par for the course since roughly the beginning of 2015. Stocks opened flat, then jumped significantly, only to sink back into the red in late morning trading. As of 1 ...