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Chart of the Day…AMZN is Extremely Oversold

October 7, 2019 By: Todd Mitchell

U.S. retailers could see a healthy holiday season. Analysts at Deloitte say retail sales could surge between 4.5% and 5% between November and January, as retailers rake in up to $1.1 trillion in sales. “Near record-low unemployment rates, coupled with continued monthly job creation, may encourage people to spend more during the holiday season. The economy is still growing, albeit at a...

Jobs Reports Keeps Bulls in Charge, For Now

October 5, 2019 By: Todd Mitchell

U.S. markets showed strength for the 2nd-straight session following a jobs report that was not as weak as feared. Optimistic comments from President Trump regarding upcoming U.S.-China trade talks added to the jobs report momentum which tempered rising worries of a deeper slowing in economic growth, if not recession by 2020.Fed speak throughout the day supported expectations for another...

NY Fed to extend operations to pump money into markets through Nov 4

By: Todd Mitchell

The New York Federal Reserve Bank said Friday it will continue to inject billions into the US financial plumbing on a daily basis through November 4, extending the operations by three weeks.The effort, begun in mid-September, is aimed at preventing a spike in short-term interest rates, the New York Fed said in a statement.Rates spiked last month as banks struggled to find the cash needed to meet...

Dow and S&P 500 will try to snap a 3-week slide as US-China trade talks kick off in the week ahead

By: Todd Mitchell

Stocks will try to regain their mojo next week as China and the U.S. hold long-awaited trade negotiations in Washington.The Dow Jones Industrial Average dropped 0.9% this week while the S&P 500 slid about 0.3%. Overall, the two averages posted their first three-week losing streak since August.Wall Street’s poor performance for the week comes after a disappointing U.S. manufacturing data...