Dow s Quarter Ends With Slip The Dow industrials shed 50.79 points as oil s rally to a 17-month high weighed on the rest of the market, especially consumer companies. Blue chips rose 4.1% in the first quarter.
The Embattled Yen: Can It Get Any Worse?
March - 31 - 2010
Ralph Shell submits:
For the past year, the value of the yen was boosted because it was perceived as a safe haven during troubled economic times. As the global economic recovery has gained momentum, the yen has lost it’s attraction and analysts are beginning to notice that the yen’s safe haven pedigree is tarnished. Recovery may be commencing in many parts of the globe, but Japanese officials are searching for ways to hasten business activity there. Yesterday, household spending anticipated to be up 1.5% during the latest period was reported a disappointing -0.5 %, and preliminary industrial production was down 0.9% worse than the -0.4% expected.
Today’s policy tweaks by the planners are handicapped because the citizens of Japan failed to create enough replacement Japanese for the past 40 years. Other industrialized countries have these demographic problems, but they allow immigrants to come into the countries, work, pay taxes and support the old. This is not the case in Japan and domestic growth in the country has suffered for years.
Today in Commodities: One Quarter Down, Three to Go
March - 31 - 2010
Matthew Bradbard submits:
Crude traded to its highest level since mid-January and appears poised to re-visit $85/barrel very soon. We have no long or short exposure with clients currently. Natural gas traded above the 9 day MA for only the second time this month but as of this post is back near its lows, well below $4. It may take multiple attempts at higher ground, but we think a small long position at these levels is acceptable. Those who have bought from higher levels, including some of our clients, should not add until we establish a bottom.
The ADP number seemed low today and I cannot picture a 200,000 plus jobs number Friday, so we could finally see some downside in indices. The line in the sand remains last Thursday’s highs; in the S&P at 1176.50, the Dow at 10894 and in the NASDAQ 1974.25.
Are Small Caps Getting Tired?
March - 31 - 2010
Prieur du Plessis submits:
I posted a short article “Picture du Jour: Keep an eye on small caps” about 10 days ago, arguing that small caps, a leading performer since the lows of March 9 last year, seem to be tiring. This is illustrated by the relative chart of the Russell 2000 Index versus the S&P 500 Index below. (A rising relative-strength trendline indicates small caps outperforming and vice versa.)
Tortoise rally: Stocks have slow but big 1Q gain (AP)
March - 31 - 2010
The stock market is taking some ages-old advice to heart: everything in moderation. Stocks on Wednesday ended a first quarter that many investors and analysts would describe as healthy.
Gulf Island, Seahawk Gain as Small Caps Fall U.S. small-capitalization stocks slid on the first quarter s last day of trading, though some energy companies gained on the Obama administration s plan to expand oil and natural-gas exploration.
Job anxiety hits Wall Street; RIM sinks late (Reuters)
March - 31 - 2010
Stocks fell on Wednesday as a report showing a surprising drop in private- sector employment stoked concerns about the health of the labor market two days before the government s key jobs data.
US STOCKS-Job anxiety hits Wall St; RIM sinks late (at Reuters)
March - 31 - 2010
* Data spurs unease about labor market s recovery * US Midwest business activity expands less than expected * Dow and Nasdaq each off 0.5 pct; S&P 500 off 0.3 pct