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Author Archives: Mathew Nolan
Shrugging off a sharp drop in consumer confidence, the markets marched higher on Tuesday on the strength of surprisingly upbeat earnings reports from several blue-chip companies, including Dow component Pfizer Inc. The Dow added 72 points to reach a five-year… Continue reading
Earnings helped lift the major indexes today with the Dow adding 62 points, the S&P 500 rose 6, and the Nasdaq gained 8. Twenty-two of the Dow’s 30 components were higher, with The Travelers Companies (TRV) and UnitedHealth Group (UNH)… Continue reading
After a strong start to the week, the major indexes essentially unchanged on Tuesday after Hewlett-Packard Co. reported a fourth-quarter net loss of $6.8 billion, or $3.49 per share, citing an $8.8 billion write-down stemming from “accounting improprieties” at Autonomy… Continue reading
One day after European Central Bank President Mario Draghi stated that the ECB would do “whatever it takes” to support the eurozone, both German Chancellor Angela Merkel and French President Francois Hollande confirmed that their countries, which represent the two… Continue reading
The major indexes gained ground for a second consecutive day on the strength of the information technology sector and after several bellwether companies, notably Intel and Honeywell, reported better-than-expected second-quarter results. The market was further bolstered by several positive economic… Continue reading
After trading in the red immediately following Fed Chairman Ben Bernanke’s semi-annual monetary policy testimony before the Senate Committee on Banking, where he provided a somewhat gloomy outlook for the U.S. economy and job growth, the markets turned into positive… Continue reading
The major U.S. equity indexes spent most of the day trending higher, bolstered by positive U.S. economic data, before momentum reversed on rising concerns about the funding needs of several Greek banks and the release of the minutes from the… Continue reading
Jim Kochan, Wells Fargo Funds Management Chief Fixed Income Strategist, summarizes why he believes the current environment supports high-yield corporate and municipal bonds. Considering the low-yield environment, new bond issuance has been near record levels, but demand technicals have… Continue reading
The four-day rally in the equity markets came to a screeching halt today, primarily due to news that Standard & Poor’s was downgrading the credit rating on the sovereign debt of several euro-area countries as Greece struggled to renegotiate lending… Continue reading