Archive for October, 2011

The Stock Market Rallies and we go over 12k

First off, I apologize for disappearing for a few weeks. I have been extremely busy and haven’t had much time to follow the stock market, let alone write an article about it. But now that I am back and I am happy to announce that yesterday, the Dow Jones finally went over the 12,000 mark like I had originally predicted several months ago. The picture above is what was shown yesterday. The Dow Jones is thankfully doing a lot better today. Although it didn’t rally today, it added onto the huge 3% rally from yesterday.

The Dow Jones currently sits at 12,231. It’s up almost 600 points since I last reported on October 14th. This is great news because it is a sign that the economy is doing better. We haven’t seen the 12,000 figure for months. The last time it was doing well, we were heading towards the 13,000 mark and currently that’s our goal. Our current objective is to stay over the 12,000 mark as we head to 13k.

The NASDAQ is also doing better than when I last reported. Although it dropped just under 1.5 points, it is still doing great. Currently the NASDAQ is at 2,737.  The S&P is also up, currently at 1,285, heading towards the 1,300 mark itself. And finally, the NYSE is at 7,803, almost a 500 point increase from October 14th.

The past two weeks have been great for the stock market. I do regret missing out on most of it but what can you do, life happens.

Before my small break, I was keeping an eye on Netflix. Two days ago, Netflix (NFLX) stocks dropped over 35% after they reported losing over 800,000 subscribers due to their company changes. That’s a huge drop. It hit a new low that day of $74.25 per share. Over the past two days, it has been recovering, but very slowly. Currently Netflix stocks cost $84.14 a share. It’s very surprising to see what was once a $300 stock to lose this much in this little time. Netflix has no one else to blame but itself for this.

So what’s happened to gold over the past 2 weeks?

It seems that Gold has been prospering too. I thought the price of gold would keep going down as the economy improved and the stock market went up, but it seems that gold has been riding along. Gold now costs $1,743 an ounce, compared to $1,680. It’s not a huge increase but an increase nonetheless.

Quite a bit has happened in my absence, I have tried to follow as much as I could but my schedule made it difficult. I am sorry for not bringing you more updates sooner. I will try to bring you as many updates as possible in the near future. Today is the end of the week and next week, the market will open into Halloween. Lets hope the issues in Europe continue to get better and the stock market’s momentum from this week moves over to the next. We could definitely use a big break as we head towards the Holidays.

So how was your two weeks? Are you happy with how the stock market has turned out in its rallies? Where do you think we will go from here?

Week Ends in a Rally

Stock Market Rallies for Second Week in a Row

by Idea go

I apologize for the lack of updates the past few days, my scheduling had me beat and I was unable to post updates. But now, I bring you good news at the end of this Market Week. The Stock Market rallied for the second week in a row and it is great news for us.

The Dow Jones today gained 166 points, adding onto yesterday’s rally. Although it dropped a little on Wednesday, it was not enough to stop the market from ending the week in the positive. The Dow currently sits at 11,644. We haven’t seen this number in a while because in the past, it seems that whenever we get close to a number this nigh, something happens in Europe and we all end up paying for it.

The NASDAQ Composite gained more than 47 points, or 1.8%. It currently sits at 2,667. The S&P 500 gained almost 21 points, or 1.7% and currently sits at 1,224. And the NYSE gained over a 121 points, and it sits in at 7,350 at the end of this market week.

This week has definitely given us a great push towards the 12,000 mark. Hopefully the momentum from this week doesn’t stop here and carries over to the next few weeks. It will give investors a great deal of confidence if the Dow can go back over the 12,000 mark, something we haven’t seen in months.

Gold has also been holding steady over the past few weeks between the $1,600 and $1,700 marks. Currently gold costs $1,680 an ounce. Surprisingly, the price of gold has gone up recently along with the stock market. Generally, they tend to have an opposite effect on each other. As the stock markets rally, gold usually drops, and vice versa. But this week was a bit peculiar with the price of gold and the stock market rally.

As predicted earlier, Apple (AAPL) has bounced back pretty well and has set new records over the past few days. Currently, apple costs $422 a share after gaining $13.57 a share, or 3.32%. Steve Jobs has left behind a great and very strong company and even though many investors and consumers felt as if Apple wouldn’t do as well without Jobs, many others knew that Apple was too big to be brought down. Apple will continue to thrive and I believe we will see this stock set bigger and better records for itself.

I am glad to be able to bring you some good news at the end of this market week. Hopefully things continue to go up in the coming weeks. What are your thoughts about what happened in the past week?

Stocks Rally For Columbus Day

Stocks Rally on Columbus Day

by Danilo Rizzuti

Today turned out to be a great start of the week. The stock market rallied like there was no tomorrow. Most stocks saw decent gains, although some did see drops due to bad news. The rally came after France and Germany pledged to come up with a plan to help the banks of the region. Only the pledge has been made so far, I can’t wait to see what they have planned to help Europe get out of the economic depression. I also hope that they do something soon.

The Dow Jones gained almost 3%, or 330 points today. The Dow finished off at over 11,433. We are back where we were about two or three weeks ago. It’s almost as if we didn’t really go anywhere. But at least we are not where we were last week, about 400 points below the 11,000 mark.

The NASDAQ Composite gained 3.5% or 86 points. Finishing off at 2,566. The S&P 500 gained 39 points, or 3.4% finishing off at 1,194. And the NYSE gained over 247 points or 3.58%. The NYSE Finished off at 7,173, finally over the 7,100 mark once again.

Apple (AAPL) is one of the stocks to have seen a decent gain today. Apple stocks rose more than 5.1% today, or just over $19 a share. Apple is slowly bouncing back after the slight drop it saw after the passing of its co-founder, Steve Jobs last Wednesday.

But not all stocks saw gains. Sprint (S) is still in trouble. It reached a new 52 week low today at $2.10 per share. It dropped almost another 8% today after dropping several percentage points at the end of the last market week. Hopefully Sprint bounces back and it most likely will. Sprint stocks are very cheap now and investors could use this opportunity to buy low.

Netflix (NFLX) is another stock that is still suffering. Even after they announced scraping the plans for Qwikster, which was supposed to separate the DVD rental and Online streaming services from Netflix. Netflix Stocks dropped another 4.77%, or $5.59 a share. Currently, Netflix costs just $111.62, almost $200 a share below it’s 52-week high just a few months go.

And the last stock mention of the day is Eastman Kodak (EK). Kodak has had issues recently and at one point, their stocks were worth almost $0.50 each. Now they are holding steady at around $1.40. I still think that Kodak will pull out and become one of the great stocks that it used to be. Investors who are putting their money into the company now will probably benefit the most.

Today was a great day for the stock market. Lets hope that the momentum continues to tomorrow. This momentum push could help us get to the aimed 12,000 mark with the Dow very soon. I know the market is very volatile now and investors could start selling tomorrow to cash in on today’s rally, hopefully that doesn’t happen and investors keep investing. I also hope that more good news keep coming out of the global economy.

I hope you enjoyed Columbus Day. And if you are in Canada, Happy Thanksgiving To You!

Jobs Data sends stock market to finish lower

by Jeroen van Oostrom

Earlier today, the US Jobs Data was released for September 2011. We needed some good news after the terrible job report from August which didn’t create any jobs at all. For September, everyone expected around 50,000 jobs to be created. But the report was better than expected.

The report stated that 103,000 jobs were created in September. Sure you may think that it’s great, but a large portion of the number is Verizon workers going back to work in September after the strike that we saw over the summer. This is actually not great news. It’s decent news that we are actually creating jobs in the economy, but it’s no where close to getting us out of the high unemployment rate that we seem to be stuck on.

August 2011′s job data was also revised. The number went from 0 jobs created to 57,000 jobs created. Although that’s good news, it’s still no where close to getting us out of the 9.1% unemployment rate that we have been stuck on for months.

The Congressional Budget Office is predicting that the number will get better by the end of the Fourth Quarter of 2011. They are expecting it to drop to 8.9%. It’s not a huge drop but still, it’s below 9%, something we haven’t seen for a very long time.

This will be a big challenge for President Obama when it comes to his reelection. By the 2012 elections, the unemployment rate will still be very high, estimated to be around 8.5%. If President Obama is reelected, it will be pretty historical because it has never been done while the unemployment rate is so high. But we will have to see how things go. If things start turning around this quarter or the beginning of 2012, President Obama may have a good chance of being reelected. But it’s still to early to assume anything.

You would expect the stock market to do some rallying after the better than expected jobs data earlier today. But it wasn’t the case. The mixed jobs report actually sent the stocks finishing lower than yesterday. The economy in Italy and Spain were also downgraded today which added to the reasons for the drop today.

Today, the Dow Jones dropped 20 points, finishing at just over the 11,103 mark. The NASDAQ Composite lost over 27 points finishing at 2,479. The S&P 500 dropped just over 9.5 points, finishing at 1,155. And the NYSE dropped more than 71 points, finishing at 6,925.

Apple recently announced it’s iPhone 4s. But the death of Steve Jobs has left a small impact on the value of the Apple (AAPL) stock.  The value of Apple dropped just over 2% or $7.57 a share. it’s not a big drop and they will bounce back soon. Because of Steve Jobs, Apple is one of the strongest companies in the world and it won’t be going anywhere. It is the legacy Steve Jobs left behind and it will be around for a while. So right now, the 2% drop means nothing for its future.

Sprint (S) suffered a huge loss after announcing financial issues. They dropped nearly 20% today, or $0.60 per share. They finished at $2.41 a share.

Clearwire Corporation (CLWR) suffered a bigger loss when Sprint announced that they will no longer be selling phones that work on the Clearwire network. Their stocks dropped $0.66 per share, or 32%.  And MetroPCS Communications (PCS) also suffered a loss of 7.8% or $0.67 per share finishing at $7.93.

The telecommunication industry took a pretty big hit today. But this would also be a great opportunity for investors to jump in to buy these stocks at a low price. If that happens, it should send all three stocks back up. I believe that we need Sprint to stick around to be able to compete with the two big names of AT&T (T) and Verizon (VZ).

Today was the end of the first week of the last quarter. We are finally back over the 11,000 mark with the Dow thanks to three days of rallying. Although the jobs data today wasn’t great, it was still better than expected. I hope that things do turn out better in the near future. We already have Greece in trouble, hopefully Italy and Spain won’t go the same way.

Steve Jobs Passes Away

Steve Jobs Dies

Steve Jobs passed away earlier today. We all knew he had issues with his health for some time. In late August, Steve Jobs stepped down as CEO which sent the stocks of Apple on a small dive.

Today’s news about Steve Jobs is very tragic. Without him, our technological world would not be what it is today. We do owe him a lot whether we like it or not. Not everyone is a fan of the Macintosh but it changed the way we use computers for the better. Steve Jobs leaves behind the legacy known as Apple. Apple is one of the greatest and strongest companies in the world today and it will be around for a very long time. I hope that everything Apple does from this point will be things that Steve Jobs would be proud of.

The news about Steve Jobs’ passing resulted in Apple (AAPL) stocks dropping just over $1. Apple will soon bounce back and go to new heights. Steve Jobs was a visionary and the world lost a great mind.

Rest in Peace Steve Jobs! You will be missed.

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Just to quickly sum up the stock market today. The market saw gains added onto yesterday’s rally. The Dow Jones gained over a 131 points finishing at over 10,939. It’s getting closer to the 11,000 mark and hopefully we will see that tomorrow.

The NASDAQ Composite gained over 55 points, finishing at 2,460. The S&P 500 gained over 20 points, finishing at 1,144. And the NYSE gained over 121 points finishing at 6,844 points.

The mentality about Greece is getting better. More analysts believe that Greece will come out of its default state soon and I do hope they are right. I wish that we can see something solid turn up over the next few days which shows us that Greece is definitely coming out of it. It will do wonders for the stock market.

Share your thoughts on the passing of Steve Jobs. And what do you think will happen with Greece over the next few days?