The stock market ended slightly higher for the week as neither the foreign nor domestic economies showed any decisive moves.The September employment report was stagnant,with a steady jobless rate of 9.1,and Europe watched expectantly for results of a weekend summit between French President Nicolas Sarkozy and German Chancellor Angela Merkel.For the week,the Dow rose 1.7%,while the NASDAQ gained 2.7 and the S&P added 2.1.
Next week,earnings season begins with Alcoa reporting its results on Tuesday.On Wednesday,PepsiCo reports,and JP Morgan Chase and Google issue their marks on Thursday.Friday will see the release of retail sales and consumer sentiment numbers.
The market will be open on Monday,Columbus Day.The S&P futures pointed down on Friday evening,losing 2.70,and bond index futures also declined as gold gained 17.40 to close at 1634.50 an ounce.
In the PGA's Fall Series,England's Paul Casey shot an exceptional second round eight under par 64 to take the lead at the Frys.com Open at CordeValle Golf Club in San Martin,California.He was followed by American Bud Cauley and South African veteran Ernie Els at seven under.
Alcoa(AA),PepsiCo(PEP),JP Morgan Chase(JPM),Google(GOOG)
Showing posts with label JP Morgan Chase. Show all posts
Showing posts with label JP Morgan Chase. Show all posts
Friday, October 7, 2011
Friday, August 5, 2011
Standard&Poor's Downgrades U.S. Credit
In an historic blow to U.S. prestige and finances,the Standard&Poor's rating agency has cut America's credit rating from AAA to AA+.Belgium and New Zealand are also rated AA+.France,Canada,Hong Kong and the U.K. remain rated AAA.The action may have a negative impact on everything from credit card rates to government programs as the U.S. may have to come up with higher interest payments on its already colossal debts.Because a downgrade of U.S. Treasury bonds is unprecedented,it isn't exactly clear just what will happen when business resumes Monday morning.
The situation is complicated by the fact that the two other ratings agencies,Moody's and Fitch,disagree with S&P and have maintained their AAA rating of U.S. bonds.In any event,all bets are off for consumers,government and financial markets alike as the world comes to terms with the S&P censure of what it deems as an inadequate response to the the U.S. budget deficit.
Americans may end up paying more for everything from auto loans to mortgages because of the downgrade.There may also be less money for other government needs as the U.S. struggles to pay more interest to its creditors-approximately 100 billion a year more,according to a JP Morgan Chase estimate.The impact may be a cut of U.S. economic growth by about a half a percent.
At the World Golf Championships Bridgestone Invitational at the Firestone Golf Club near Akron,Ohio,Tiger Woods and Phil Mickelson failed to play adequately as they fell down the leader board in the second round on Friday.Americans Keegan Bradley,Rickie Fowler and Ryan Moore shared the lead with Australian Adam Scott at eight under par.
Next week,the market will be dealing with a Federal Reserve meeting,retail sales and consumer sentiment reports,on top of the S&P downgrade of U.S. bonds.Disney will report earnings on Tuesday,while JC Penney reports its earnings Friday.
The S&P futures were initially down 0.90 Friday evening,while bond index futures rose.The S&P futures later edged up to 0.50.The CME Group futures market reopens for business Sunday afternoon.
The situation is complicated by the fact that the two other ratings agencies,Moody's and Fitch,disagree with S&P and have maintained their AAA rating of U.S. bonds.In any event,all bets are off for consumers,government and financial markets alike as the world comes to terms with the S&P censure of what it deems as an inadequate response to the the U.S. budget deficit.
Americans may end up paying more for everything from auto loans to mortgages because of the downgrade.There may also be less money for other government needs as the U.S. struggles to pay more interest to its creditors-approximately 100 billion a year more,according to a JP Morgan Chase estimate.The impact may be a cut of U.S. economic growth by about a half a percent.
At the World Golf Championships Bridgestone Invitational at the Firestone Golf Club near Akron,Ohio,Tiger Woods and Phil Mickelson failed to play adequately as they fell down the leader board in the second round on Friday.Americans Keegan Bradley,Rickie Fowler and Ryan Moore shared the lead with Australian Adam Scott at eight under par.
Next week,the market will be dealing with a Federal Reserve meeting,retail sales and consumer sentiment reports,on top of the S&P downgrade of U.S. bonds.Disney will report earnings on Tuesday,while JC Penney reports its earnings Friday.
The S&P futures were initially down 0.90 Friday evening,while bond index futures rose.The S&P futures later edged up to 0.50.The CME Group futures market reopens for business Sunday afternoon.
Friday, January 14, 2011
Nowitzki Almost Well;Earnings Season Starts Well
Dallas Mavericks star Dirk Nowitzki said he's close to coming back into the lineup-hopefully on the Mavs' current road trip.He missed his 9th straight game Friday because of a sprained knee.The Mavs lost to the San Antonio Spurs 101-89.Dallas owner billionaire Mark Cuban attended the game at San Antonio's at&t Center,but to no avail for his struggling team.
San Antonio has the best record in the NBA,at 34-6,and were led by Tony Parker's 18 points,while Dallas' Shawn Marion scored 14.Parker said we've been lucky with our health,but it's a little too early to talk about being a championship team.The Spurs have achieved 5 straight wins.
The east was achieving some mighty cold temperatures Friday night,as Harrisburg,Pennsylvania was dropping down to the teens Fahrenheit.A clipper system was to cross the Great Lakes Saturday afternoon,bringing lake effect snow showers to the area.
Wall Street notched multiyear highs this week,with the Dow up 1.0,the NASDAQ 1.9 and the S&P 1.7.Earnings season had launched on an uptrend for Alcoa,Intel and JP Morgan Chase.The S&P futures continued the optimism Friday evening with a substantial 8.1 of further gain as bond prices dropped.
Alcoa(AA),Intel(INTC),JP Morgan Chase(JPM)
San Antonio has the best record in the NBA,at 34-6,and were led by Tony Parker's 18 points,while Dallas' Shawn Marion scored 14.Parker said we've been lucky with our health,but it's a little too early to talk about being a championship team.The Spurs have achieved 5 straight wins.
The east was achieving some mighty cold temperatures Friday night,as Harrisburg,Pennsylvania was dropping down to the teens Fahrenheit.A clipper system was to cross the Great Lakes Saturday afternoon,bringing lake effect snow showers to the area.
Wall Street notched multiyear highs this week,with the Dow up 1.0,the NASDAQ 1.9 and the S&P 1.7.Earnings season had launched on an uptrend for Alcoa,Intel and JP Morgan Chase.The S&P futures continued the optimism Friday evening with a substantial 8.1 of further gain as bond prices dropped.
Alcoa(AA),Intel(INTC),JP Morgan Chase(JPM)
Friday, January 15, 2010
Profit-Taking Today
Friday was a day for booking profits as investors expressed doubts about the economic situation.Reports suggesting consumer weakness raised the level of uncertainty about the course of 2010-enough to make taking profits a prudent measure at this time.Even Intel,with its sterling achievements in Q4,was skimmed for cream.JP Morgan Chase reported loan losses,and CEO Jamie Dimon expressed uncertainty about the economy in the conference call following its quarterly report.A disappointing reading by the University of Michigan on consumer sentiment further agitated the markets,raising the volatility level,although stocks did close off their lows for the session.The prospect of a three day weekend in the U.S. left traders eager to safeguard their portfolios with a buffer of cash in the face of a questionable opening on Tuesday morning and a cascade of further earnings reports next week,icluding one from Citigroup.
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