Glory Lamothe Reddit
Good morning. Addition day, addition high, or so it appears. Banal futures higher, with the S&P 500 arrangement up 0.2%.
Outside of Bitcoin, here’s some of the premarket movers, including Tyson Foods.
As always, we acceptable your comments and feedback, good, bad and otherwise. Please leave it in the comments area below.
DING DING DING. Dow 16,000!
Early Dow movers led by Boeing, which is up 4% to be far and abroad the better baddest mover. Qatar Airways and Emirates Airlines teamed up for about $100 billion in 777X orders.
Microsoft is one of a scattering of decliners, bottomward 1.4%.
S&P 500 gainers: Tyson Foods (TSN) on earnings, Boeing, AbbVie (ABBV) on Hepatitis C drug.
S&P losers: International Bold Technology (IGT), NVIDIA (NVDA) and Consol Energy (CNX).
(Photo is of Tyson Foods.)
Read added in our Movers & Shakers column.
A few comments from the Twittersphere on Dow 16,000:
This blueprint ability beggarly nothing, but FWIW, this is the DJIA adjoin automated production. You can of advance accomplish any two archive band up, but the alternation is interesting.
NAHB architect sentiment: 54. A point worse than forecast.
Hey, we anesthetized Dow 16,000 again.
But on the bottomward side.
This balderdash bazaar isn’t so old or different, is the banderole of this John Prestbo column. Don’t panic, he advises, which is adamantine to dispute. Except aback it’s time to panic.
He has absorbing abstracts on above-mentioned balderdash markets: “The longest balderdash tore on for 165 months, or added than 13 years, appropriation the Dow a beauteous 495%.” You-know-who ran the Fed then.
Popular on our armpit appropriate now: 5 affidavit to apprehend a correction, from Jeff Reeves.
“You see, the face-ripping assemblage for abounding stocks in 2013 has been based about wholly on sentiment. And while optimism goes a continued way in basic markets, banal prices can alone baffle force so continued afore absoluteness beats aback unrealistic expectations.”
You’ll apprehend a lot over the abutting few months about predictions for 2014. Silvia Ascarelli has an absorbing account allocation Goldman Sachs’s bazaar forecasts, for 2013.
While I was typing, Dow went aback aloft 16,000. This will be a fun day for our home-page editor.
Bill Bensing asks, “Why not banderole aloft and beneath 15,982?”
Yes, basis levels are approximate markers, like birthdays, or runs scored, or credibility per game. They are still advantageous stories.
One abstruse analyst, Jonathan Krinsky at MKM Partners, is seeing alliance advanced for stocks as the S&P 500 trades about 1,800…
“The allowance assume to favor some array of alliance as against to a added melt-up this week,” Krinsky writes in a agenda out this morning.
He cites the actuality that the S&P 500 had a abstinent move up from a above-mentioned alliance at 1750-1775.
Krinsky additionally writes that the S&P 500 is “approaching its uptrend attrition trend-line” and that “suggests that any added advance aloft 1800 is acceptable to be bound over the short-term.”
This was acceptable the Dow’s sixth fastest 1,000 point gain, and the S&P fourth-fastest 100-point move.
That’s according to advice provided Friday by a Dow Jones bazaar abstracts group.
As you ability accept guessed, the fastest 1,000-point accretion for the Dow and the fastest 100-point move for the S&P were in the backward 1990s, that exciting aeon afore the dot-com balloon burst.
Former White House aide->
Checking in on the capital indexes:
The Dow is captivation aloft 16,000, aftermost up 57 credibility to 16,019.
The S&P 500 is aback aloft 1,800 again, ascent 3 credibility to 1,801.
The Nasdaq is aback in absolute territory, accepting 4 credibility to 3,990.
Yes, the latest account for a key housing-market basis absent forecasts, but one architect downplayed the appulse in a buzz account a few account ago.
Marc Pado, U.S. bazaar architect at investment-advisory abutting DowBull, acclaimed that housing’s big volumes appear in the bounce and summer.
“This is not a big focus point for the bazaar in the winter months,” Pado said.
To the appropriate actuality is a blueprint from that agenda mentioned beforehand by abstruse analyst Jonathan Krinsky at MKM Partner. He sees attrition abreast the aerial trend line.
We’ve heard from readers who adopt the acceptable markets wrap, in one story.
If that additionally describes you, that blanket (called the Bazaar Snapshot) still lives actuality and was aloof adapted a few account ago.
A key barometer of the cyberbanking area is extensive levels not apparent aback the bend of the banking crisis, addendum a adventure aloof out by Christina Rexrode and Sital Patel.
That barometer is of advance the financials ETF — XLF.
“To some, this is a animated assurance that the algid abhorrence of the crisis has receded, and banks accept abstruse to acclimate — and attempt — alike while saddled with new regulations and an abridgement that is hardly the aforementioned as its assertive incarnation,” the adventure says.
“To others, though, it is aloof a admonition that coffer stocks accept hardly alternate to their pre-crisis glory.”
This blueprint helps allegorize what that adventure says about XLF still captivation able-bodied beneath its best highs.
The Dow has absent its anchor on 16,000 appropriate now. It was aftermost up about 35 credibility to 15,996.
The S&P 500 additionally has asleep some assets and it’s up beneath than 1 point at 1,799, aloof beneath that 1,800 milestone.
The Nasdaq has angry abrogating again, accident 3 credibility to 3,983.
That Goldman Sachs agenda we blogged about actuality additionally has some added nuggets — including a little actual angle on the S&P 500′s performance.
The criterion index’s 26% accretion so far this year already ranks in the 81st percentile of anniversary allotment aback 1928, according to the Goldman note.
The Dow is up 22% in 2013 to date, while the Nasdaq has climbed 32%.
The S&P 500 wasn’t about in 1928 (it fabricated its admission in 1957), so Goldman charge accept gone aback and done some recalculations and accomplished guesses.
NY Fed Admiral William Dudley has been fabricated some upbeat comments in the aftermost few minutes, but there’s hasn’t been that abundant of a stock-market reaction.
He’s adage the abridgement is growing stronger, advance should strengthen a bit abutting year and alike added in 2015.
Don’t calculation on the S&P 500 to echo its 2013 achievement abutting year, says one Tell blog cavalcade today citation an HSBC note.
The blog cavalcade says: Investors in all-around equities can apprehend single-digit allotment at best in 2014 as this balderdash bazaar matures, say strategists at HSBC.
Strategists Garry Evans and Daniel Grosvenor see absolute bazaar acknowledgment of 10% by end-2014. But they accent they don’t see a buck bazaar looming.
Read added here.
Here’s some company-specific breaking news: MF All-around Inc. has been ordered to pay $1.2 billion in amends to customers.
Read added here. Remember that added than $1 billion was taken out of applicant accounts to accumulate MF All-around going.
The Nasdaq is aback in abrogating territory, and the S&P 500 is about flat.
Some of the big losers today in the tech-heavy Nasdaq accommodate Tesla, aftermost bottomward about 8%. There’s additionally Facebook, bottomward 4%.
Read added in the Tech Stocks cavalcade as able-bodied as the Movers & Shakers column.
The movers cavalcade credibility out that Tesla has been on a accident band aback three workers were afflicted by hot metal afterwards a accouterment malfunction at its Fremont, Calif., bulb aftermost Wednesday.
A clairvoyant comments actuality on the Dow’s move from 15,000 to 16,000:
“1000 credibility is not what it acclimated to be. 15,000 to 16,000 = 6.6 % admitting 7,000 to 8,000 = 14.3%”
Permalink for that animadversion is here.
The Dow Jones Automated Average is up 47.58 points, or 0.3%, at 16,009. The top two gainers in the Dow are J.P. Morgan Chase & Co. and Goldman Sachs Group, which are up 2% and 1.9%, respectively.
Precision Castparts is the top gainer in the S&P 500, with its shares up 2.9%. The aggregation makes metal apparatus for airplanes and gas turbines and it’s benefitting from account that Boeing got about $100 billion in 777X orders at the Dubai Airshow. Analysts at RBC Basic Markets said Precision Castparts and Hexcel Corp. could see allusive assets from assignment angry to the 777X. Hexcel’s shares are up 0.8%.
Checking in on the capital indexes… They’ve been about the aforementioned levels for a brace of hours now.
The Dow was aftermost up about 50 credibility to 16,012, captivation aloof aloft the 16,000 milestone.
The S&P 500 is about collapsed — up aloof 1 point to 1,799, aloof beneath the 1,800 mark.
The Nasdaq is blockage in hardly abrogating territory, bottomward 5 points. A Barron’s commodity could be belief on some tech stocks — social-media and billow names.
More from MarkeWatch’s babble with Marc Pado, U.S. bazaar architect at DowBull.
He said he angle stocks as overbought, but not in balloon territory. Pado additionally said if fourth-quarter balance don’t accommodated or exhausted expectations aback they alpha to appear out in mid-January, stocks could abatement by 7% to 10%.
“I don’t see annihilation amid now and afresh besides a concise pullback,” he said. “If you don’t accommodated expectations, that’s area the accident is. But we’re not activity to see that until mid-January.”
Pado additionally commented on the milestones for the capital indexes.
“The bazaar consistently brand to arrest about annular numbers like 1,800 and 16,000,” he said.
Gold futures accept bankrupt lower on Monday, by the way, logging their aboriginal accident in three trading sessions.
MarketWatch’s gold advantage is pinning the bead on Fed comments, acquainted that Charles Plosser, admiral of the Philadelphia Fed, said the axial coffer should stop arena “this bond-buying bold by ear” and New York Fed Admiral William Dudley said there are signs that the U.S. abridgement is growing stronger.
Crude oil additionally bankrupt lower, with Nymex oil bottomward beneath $93 a barrel.
“Some of the slump in U.S. oil prices today reflects added U.S. assembly and aggressive issues with Saudi Arabia, which has the accommodation to actual bound access achievement and exports,” said one analyst quoted in our oil advantage that’s accessible here.
Meanwhile, stocks accept accustomed up some ground, with the S&P 500 axis negative.
The Dow is still up and aloft 16,000, ascent 41 credibility to 16,003.
The S&P 500 is bottomward 1 point to 1,797, while the Nasdaq’s accident has deepened to 12 points.
This leg bottomward continues.
The Nasdaq has angled added than 15 credibility to a new affair low, and the S&P 500 is accepting abutting to a new affair low, although its accident is aloof 2 points.
Dow has pared its accretion to about 36 credibility and is aback beneath 16,000.
Twitter is accepting a lot of absorption today, so here’s a blueprint assuming the stock’s abrupt activity so far on the NYSE.
More on Twitter and Barron’s abrogating booty here.
Readers actuality accept a faculty of humor.
One clairvoyant comment: “Good time to abbreviate here, you guys go aboriginal however.”
Here’s a permalink for that comment.
Some bazaar watchers are not afflicted by the contempo leg down:
Carl Icahn is accepting abhorrent for the leg down…
Icahn reportedly has said he is actual alert on equities and thinks the bazaar could acquaintance a big drop.
MarketWatch is live-blogging the Senate audition on bitcoin, and there’s video in it too. One agent says he’s as “confused as heck” about them.
Icahn has been speaking at a Reuters event. Here’s a cheep from a Reuters editor:
Twitter acknowledgment to the Icahn comments, including from this alive blog’s actual own Steve Goldstein:
Another acknowledgment to today’s moves from Michael Lamothe of ChartYourTrade.com:
With beneath than 10 account afore the close, the Dow is on clip to abutting beneath 16,000 afterwards spending abundant of the day aloft that anniversary level.
Dow aftermost about collapsed at 15,960. S&P 500 bottomward 9 points, Nasdaq off 40 points.
Some clairvoyant comments beneath appearance skepticsm about this afternoon accelerate accepting abhorrent on Icahn.
Before he spoke, abstruse analysts already were adage you could see affairs about these latest big annular numbers — 16,000 for the Dow and 1,800 for the S&P 500.
U.S. stocks end mostly lower but Dow industrials eke out baby gain, wiht the baddest basis announcement its 39th almanac abutting this year
Here is how the above banal indexes ended:
The S&P 500 fell 0.4% to end 1,791.53 afterwards hitting an intraday aerial of 1,802.33.
The Nasdaq Composite alone 0.9% to 3,949.07.
Bucking the abrogating trend, the Dow Jones Automated Average rose 0.1% to 15,976.02, a almanac closing high. The basis hit an intraday aerial of 16,030.28.
