Tag Archive: steve jobs

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.

___________

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?

This is a followup post of the article from earlier today titled “Market Falls as Reports Come in of Lower Home Prices.”

Earlier today, it seemed that the momentum from yesterday would not carry over, that the rallying of the stock market was over. But today, it showed us that the stock market isn’t done. After my last article here, the Dow Jones rallied and finished with a gain of almost a 144 points totaling to 11,320. It’s getting closer and closer to the 12,000 mark, a mark we haven’t seen for some time.

The NASDAQ Composite increased just under 22 points, finishing at 2,467. The S&P 500 finished with a gain of 15 points at 1,177. And the New York Stock Exchange finished at 7,273 with a gain of 63 points.

Steep Gold Price Drop

Gold Price Drop by Yahoo! Finance

While the stock market rallied, the price of gold kept on dropping. Currently the price of gold is roughly $1,758, dropping an additional $26 from our last report here on Stocksicity. To the left you see a graph that shows you just how steep the drop has been for gold. And if the stock market’s momentum carries on to tomorrow once again, we could see the price of Gold keep dropping as investors start putting their money in stocks rather than Gold. As always, some investors could use this as an opportunity to buy gold for a discount compared to earlier this week. If I had the money to purchase large sums of gold, I personally wouldn’t. I believe that this is a bubble and once the market gets better (and I believe it will soon enough), the price of Gold will keep dropping and eventually get to a level we haven’t seen for several years.

The banking sector did pretty well today. Citigroup (C) showed an increase of more than 4% which Bank of America Corporation (BAC) saw a rise of almost 11%. JP Morgan Chase (JPM) saw an increase of just over 3%.

Apple’s stock originally rose $2.58 during the trading day. However, after the market closed, it was announced that CEO Steve Jobs has resigned from his post at Apple. He left his post to Chief Operating Officer Tim Cook. As a result of the news, Apple stocks plummeted more than 5%, or almost $20 per share,  in after hours trading. The news should sink in over night and the value of Apple should go back up to balance itself out over the next few days. But this requires Tim Cook to make a good presence at Apple. He has to show everyone that he is the right person for the job. I have no doubt that he is the right person for the job. For Apple’s sake, let’s hope that he can fill the shoes of Steve Jobs.

I am glad the market turned around in the afternoon. I would have hated to see the stock market do so well earlier in the week just to go through a steep drop the next day. I also hope that the stock market’s momentum carries onto tomorrow and the stocks rally again. We are still hopeful for what Bernanke has to say in his announcement on Friday. If it’s a good one, I think we’ll be seeing more greens in the stock market next week as well.