(Justin Vaughn, Editor, Options Trading Report) Even though the market staggered at the end of the month, and soared the last day, the indices were positive for the finish. A 575 point surge on Friday by the Dow Jones Industrial Average gave investors and traders a much needed ‘shot-in-arm’. As May finished, all three indexes were up, with the Dow Jones up 2.3%, the S&P 500 up 4.8% and the blazing Nasdaq Composite leading the … Read more…
(Justin Vaughn, Editor, Options Trading Report) The Bull keeps charging on with popular high-techs leading the way! All three indexes, the Dow Jones Industrial Average, the S&P 500 and the heavy tech Nasdaq Composite are cresting new highs weekly. Even the small cap Russell 2000 with value companies is ‘on-the-bandwagon.’ The U.S. investor, and small time consumer want a piece of the exploding techs. The market has been robust with consumer friendly stocks many of … Read more…
(Justin Vaughn, Editor, Options Trading Report) At Friday’s close all three indexes stood near records, as the market was sizzling. The Dow Jones Industrial Average was up 1.2%, the S&P 500 and Nasdaq Composite were up !.5% and 2.1% respectfully. For the month of May the S&P 500 was up 5.3%, with nearly all equities in the positive. “The market is very keyed in on this notion of a soft landing, and most data points … Read more…
(Reuters) – Wall Street’s top regulator on Thursday said it had updated rules to ensure investment companies and others work to detect and respond to hackers’ theft of customer data. The changes, approved unanimously by the five-member U.S. Securities and Exchange Commission, apply to rules first adopted in 2000. “Over the last 24 years, the nature, scale, and impact of data breaches has transformed substantially,” SEC Chair Gary Gensler said in a statement, adding that … Read more…
MOSCOW (Reuters) – Russian President Vladimir Putin made a state visit to China on Thursday where he was greeted by China’s Xi Jinping. What are the main takeaways from the visit? * Xi and Putin declare a “new era” partnership: In a joint statement, 7,000 words long in Russian, Xi and Putin pledged a “new era” of partnership between the two most powerful rivals of the U.S., which they cast as an aggressive Cold War … Read more…
By Karen Freifeld NEW YORK (Reuters) – The New York State Commission on Judicial Conduct has dismissed an ethics complaint against Justice Juan Merchan, who is overseeing the hush money criminal case against former U.S. President Donald Trump, a spokesperson for the judge said. \”Justice Merchan said the complaint, from more than a year ago, was dismissed in July with a caution,\” spokesperson Al Baker of the state Office of Court Administration said this week … Read more…
(Justin Vaughn, Editor, Options Trading Report) April showers bring May flowers…..the bear scampered off, the bull charged in, and the market sizzled…just what the street needed. Friday finished convincingly, with all indexes on fire nudging new highs. After a dismal April, with stubborn inflation and constant negative inflation news there-of, May has had a spate of positive indicators. Corporate earnings, leveling of labor and wages have given investors indications that inflation trends are heading downward. … Read more…
WASHINGTON (Reuters) – The Dow topped 40,000 for the first time on Thursday in an all-time high, giving U.S. President Joe Biden an opening to prove his Republican election rival’s 2020 predictions wrong. The state of the U.S. economy looms as one of the larger factors weighing on the Democratic president’s bid for reelection. Persistently high prices have hindered Biden’s efforts to win credit from voters for his handling of the economy, although inflation in … Read more…
By Nupur Anand NEW YORK (Reuters) – With JPMorgan Chase coming off a year of record profits, investors are eager to learn about the firm’s succession plans, investments in artificial intelligence and opportunities beyond traditional banking. Chief Executive Jamie Dimon and his team will be presenting their growth strategies and financial targets on Monday at JPMorgan’s investor day in New York. More than 18 years into Dimon’s tenure as CEO of the bank, JPMorgan’s shares … Read more…
By Ann Saphir (Reuters) – Federal Reserve policymakers waiting to see renewed progress on inflation before reducing borrowing costs got some encouraging data on Wednesday with a government report showing inflation eased a bit in April. The 3.4% rise in the consumer price index from a year earlier, and the 0.3% increase from March, shows the Fed still has some distance to go before it achieves its 2% target for inflation. But the report … Read more…