Coming off the worst week of the year, U.S. equities were mixed in the stock market today (Monday) at we kick off a big week for earnings.
In mid-afternoon trading, the Dow Jones Industrial Average was down 14.19, or 0.10%, at 14,533.32. The Standard & Poor's 500 Index gained 2.50, or 0.22%, to 1,558.93.
The Nasdaq was up 20.17, or 0.63%, to 3,226.23.
Gold, which lost 7%, or $105.70 a troy ounce last week, was down 20 cents, to $1,426.30.
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It's time for some insight.
I'm constantly asked where I think the stock market is going next. Since the Dow recently reached new highs and the S&P 500 is pushing its old October 2007 highs, it's no wonder that's the question on everyone's mind and lips.
My answer is: I don't know where it's going. But I do know what to do about it.
Here's the thing...
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Worries over the plan to force bank depositors in Cyprus to help fund a $13 billion international bailout rattled global equities and sent the U.S. stock market today (Monday) lower.
Right after the open, the Dow Jones Industrial Average, the Standard & Poor's 500 Index and the Nasdaq were all sharply lower.
By mid-afternoon, all three indexes remained in negative territory with the Dow down 4.76, or .03% at 14,509.03; the S&P down 2.97, or 0.17%, at 1,557. 73, and the Nasdaq down 2.11, or 0.11%, at 3,247.
Sending global markets lower Monday was the unprecedented agreement reached this weekend over Cyprus' bailout plan.
The proposed plan - by representatives of the International Monetary Fund, the European Central Bank and Eurozone's finance ministers - includes taxing deposits over 100,000 euros ($128,950) at 9.9%, while those with less than that amount would be subject to a 6.75% levy.
The aim is to raise 5.8 billion euros ($7.52 billion) that would go toward the $13 billion international bailout of the country.
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The bears predicting a stock market crash have it all wrong.
So says Jeremy Siegel, finance professor at the University of Pennsylvania's Wharton School and author of "Stocks for the Long Run." He predicts the Dow - which closed yesterday (Wednesday) at a new record high 14,455.28 - will continue the bull market run, ending this year in the 16,000 to 17,000 range.
For 2014, he says, the "best bet goal" is the Dow will climb to 18,000.
And the well-known bull has nearly 150 years of data to back up his bold prediction.
Here's why Siegel is so bullish.
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If you happen to do something that you probably do, and have been doing - only, you didn't know it was "abusive manipulation" of the markets - they're already after you.
The Chinese New Year officially began Feb. 10, starting what some investors consider a very bad zodiac year. Not only does the year of the snake havethe worst stock market returns, but some of the darkest moments in U.S. history. Take a look.
The stock market today (Friday) hit a high not seen in more than five years when the Dow Jones Industrial Average crossed 14,000 for the first time since October 2007.
Less than an hour into trading the Dow spiked 140 points, or 1%, to hit 14,000.97. In mid-afternoon trading, the Dow rallied further, tacking on 150 points. The move leaves the Dow around 200 points, or 2%, from its all-time high of 14,198.10.
Friday's strong showing came on the heels of the Dow's strongest January (up 5.8%) since 1994.
The Standard & Poor's 500 Index, which logged its best January since 1997, added 15 points, or just shy of 1%. The Nasdaq advanced 40.
The robust rally followed a lackluster report on the job market which gave "strength to the argument that the Fed will continue its bond buying program and keep rates low, which is also a positive for the stock market," Tom Schrader, managing director at Stifel Nicolaus told CNN Money.
That sentiment also gave bonds and precious metals a boost. Gold prices moved up $7 to $1,670. Silver added 37 cents to $31.94
A bevy of reports helped buoy markets Friday.
A Census Bureau report showed construction rose 0.9% in December, well above forecasts. The Institute for Supply Management's monthly manufacturing index rose to 53.1 in January, ahead of the expected 50.5 read, and the University of Michigan's sentiment index climbed to 73.8 last month, better than the expected 71.4.
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At first glance, there can be no doubt that U.S. President Barack Obama has been good for the stock market.
The Standard & Poor's 500 Index has rallied by nearly 700 points - just shy of 86% - since the president's first Inauguration on Jan. 20, 2009.
This is the best stock market performance for a presidential first term since World War II, even beating the 79.2% rally during President Bill Clinton's first term in the White House, from January 1993 to January 1997.
In fact, the only time stocks rallied more during a presidential first term was during Franklin Roosevelt's first term from March 4, 1933, to Jan. 20, 1937, when the Dow Jones Industrial Average rose 245% off of Depression-era lows.
In a very broad sense, the condition of the stock market at the start of President Obama's first term in 2009 can be compared to the stock market in 1933. In both cases, stock prices had collapsed and were trading at generational lows when both presidents took office. In both cases, share prices rallied substantially off of the bottom as economic conditions improved.
But all this really proves is that the first leg of any rally is usually the strongest and most profitable.
As the S&P 500 is at a five-year high and is zeroing in on the 1,500 level for the third time in its history, one has to wonder if the Obama Rally is sustainable or are we just reverting to the mean?
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The stock market today rose right out of the gate Thursday on improved economic data, with the Dow Jones Industrial Average up 70 points just before noon, and the Standard & Poor's 500 Index up 7.
Giving equities a lift was a pair of reports that showed the U.S. economy continues on the path to recovery.
The Department of Commerce reported Thursday morning that construction for new U.S. homes leapt in December to the highest rate in more than four years. Gains were logged all across the nation, as well as in buildings and single family homes.
The 12.1% jump in housing starts in December was the best reading since June 2008.
"Overall, this report reinforces the current narrative of a positive growth momentum in the housing sector," Millan Mulraine, a macro strategist at TD Securities told Market Watch.
A measure of homebuilders on the S&P 500 jumped 2.1%, poised for the highest closing level since 2007.
The second report that juiced markets was data from the Labor Department. A report revealed the number of Americans filing first-time claims for unemployment benefits fell more than expected in the latest week to the lowest level in five years.
In the week ending Jan. 12, applications for jobless benefits fell by 37,000 to 335,000, marking the lowest level since Jan. 19, 2008, and well below estimates of 369,000.
"The labor market is certainly getting better," Brian Jones, senior U.S. economist at Societe General in New York, told Bloomberg News.
Even with typical seasonal adjustment, Jones added, "this is still a good report. Chances are claims remain at a fairly low level."
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The stock market today (Friday) will try to continue its impressive rally after the Standard & Poor's 500 Index closed at a five-year high Thursday.
The S&P 500 closed at 1,472.12, about 93 points away from its all-time high of 1,565 hit in October 2007 and its highest close since December of that year.
By 1 p.m., the S&P 500 was down just over 2 points, and the Dow was up 4 points, or 0.04%.
While the stock market today fights for a continued climb, here are companies investors should be eyeing.
Economic forecaster Harry Dent just made another dire prediction, and investors should hope he's wrong.To continue reading, please click here...
As the bull market tries to enter its fifth year, many are wondering if it still has legs - but a handful of stock market charts warn there's high risk of a coming sell off. To continue reading, please click here...
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Intercontinental Exchange (NYSE: ICE) announced Thursday it will acquire NYSE Euronext (NYSE: NYX) for $8.2 billion in cash and shares. What does it mean?
Keith Fitz-Gerald weighed in.
