JRS Investments

jeremy — Thu, 14 Jul 2011 14:34:09 +0000

U.S. stocks rose, sending the Standard & Poor’s 500 Index toward its second day of gains, as better-than-expected earning from JPMorgan Chase & Co. (JPM) and improving data on jobs and retail sales overshadowed concerns America’s credit rating may be downgraded. Fewer people sought unemployment benefits last week, an encouraging sign the job market may be slowly improving. Weekly applications dropped 22,000 to a seasonally adjusted 405,000, the Labor Department said, the lowest level in almost three months.

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Morning Market Commentary 7/13/11

jeremy — Wed, 13 Jul 2011 14:21:33 +0000

Markets rose in early trading as Italy announced it will strengthen its package of austerity measures and get it through parliament by Friday, finance minister Giulio Tremonti pledged Wednesday as he sought to calm market fears that the eurozone’s third-largest economy would be swept into the European debt crisis. China’s rapid economic growth slowed in the latest quarter to a still robust 9.5 percent, easing fears of an abrupt slowdown and giving Beijing room to tighten controls to fight surging inflation. Federal Reserve Chairman Ben Bernanke told Congress Wednesday that a new stimulus program is in the works that will entail additional asset purchases, the clearest indication yet that the central bank is contemplating another round of monetary easing.

Morning Market Commentary 7/12/11

jeremy — Tue, 12 Jul 2011 14:18:05 +0000

Wall Street stocks opened flat on Tuesday, as the euro zone’s continuing debt crisis kept nervous investors on edge. European officials for the first time refused to rule out default by Greece and investors feared the crisis could overtake the bigger European economies of Spain and Italy. Helping support markets, traders cited rumors that the European Central Bank was buying peripheral bonds for the first time in three months, with Portugal the suspected target. Oil prices fell to near $94 a barrel on Tuesday as financial markets were hit by worries about Europe’s debt crisis and the U.S. dollar strengthened, making commodities like crude more expensive for international investors.

Morning Market Commentary 7/11/11

jeremy — Mon, 11 Jul 2011 15:14:48 +0000

Wall Street stocks sank on Monday as fears about Europe’s debt crisis and the global economy sent a shudder through markets and overshadowed the start of the U.S. earnings season. Global equity markets fell, the euro slid more than 1 percent and the cost of insuring Italian debt jumped to a record amid fears of contagion in Europe’s debt markets and reports some European Union leaders were considering allowing a selective default by Greece. ”In the short term, in terms of worries — not actual events but worries –it’s a little bit of a perfect storm for investors,” said Oliver Pursche, president at Gary Goldberg Financial Services in Suffern, New York.

Morning Market Commentary 6/15/11

jeremy — Wed, 15 Jun 2011 14:07:06 +0000

Stocks opened sharply lower on Wednesday on worries the Greece debt crisis may escalate and after a negative reading on New York State manufacturing underscoring the headwinds facing the economy. After six months of holding steady the National Association of Home Builder’s sentiment survey fell three points in June to 13, as builders face not only competition from distressed properties, but rising costs of materials. Fifty is the line between positive and negative sentiment on the survey. Pandora IPO opened up $9 from the $16 offering price in early trading.

Morning Market Commentary 6/13/11

jeremy — Mon, 13 Jun 2011 15:49:46 +0000

Stocks rose on Monday after Wendy’s/Arby’s Group said it would sell control of its Arby’s business to a private equity firm that owns several other quick service franchises, including Moe’s Southwest Grill and Auntie Anne’s. VF Corp., whose brands include Wrangler and The North Face, also said it would buy boot maker Timberland for more than $2.2 billion. Weak economic news has sent stocks lower for six straight weeks. Investors have been worried about a dismal housing market, a slowing manufacturing industry and a sluggish jobs market for weeks.

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Morning Market Commentary 6/9/11

jeremy — Thu, 09 Jun 2011 14:41:50 +0000

Stocks are opening mixed after two economic reports suggested that the recovery is still sluggish. Initial claims for state jobless benefits increased 1,000 to 427,000, the Labor Department said. However, economists polled by Reuters had forecast claims dropping to 415,000 from a previously reported count of 422,000. A Commerce Department report showed the U.S. trade deficit narrowed unexpectedly in April, as U.S. exports rose to a new record and imports from Japan tumbled more than 25 percent after its earthquake, tsunami and nuclear disaster.

Morning Market Commentary 6/8/11

jeremy — Wed, 08 Jun 2011 13:55:48 +0000

Stocks futures fell Wednesday, extending a slide fueled by Federal Reserve chairman Ben Bernanke’s comments that economic growth has slowed. In a speech late Tuesday afternoon, Bernanke said that the U.S. economy wasn’t growing as fast as had been expected this year, in part because damage to industrial supplies in Japan following its catastrophic tsunami and nuclear disaster has disrupted imports from that country. OPEC says it has decided to maintain output levels, with the option of meeting within the next three months for a possible production hike. Oil prices have moved back over $100 a barrel this morning.

Morning Market Commentary 6/7/11

jeremy — Tue, 07 Jun 2011 13:29:37 +0000

Stocks appear set to open higher Tuesday following four straight days of losses. Traders are awaiting remarks by Federal Reserve chairman Ben Bernanke that could indicate whether the Fed will continue its loose-money policies. Before the opening bell, Dow Jones industrial average futures rose 34 points, or 0.3 percent, to 12,121. Standard & Poor’s 500 index futures rose 5, or 0.4 percent, to 1,290. Nasdaq futures rose 5, or 0.2 percent, to 2,279.

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Morning Market Commentary 5/27/11

jeremy — Fri, 27 May 2011 14:27:29 +0000

Stocks are opening higher after a report showed Americans’ spending edged up last month. The Commerce Department said early Friday that both personal income and spending rose 0.4 percent in April, in line with what economists expected. However higher food and gas prices accounted for most of the spending increase. All three indexes are down for the week. Stock markets took a hard fall Monday with a batch of bad news from Europe.