It was perhaps the worst timed IPO (initial public offering) of the decade. Cardlytics (CDLX)went public at the Friday open, one of the worst days in the history of Wall Street. The shares were priced at $13 and closed later in the day at a strong $13.33. The Dow Average then collapsed some 1,100 points in hours. … Read more
Stocks got off to a nice start today. The major indices opened higher, then continued to rally ahead of today’s FOMC Minutes. But the FOMC really ruined the party. Although the initial reaction to the Fed Minutes was positive, the mood quickly changed. The major indices hit session highs 25 minutes after the report, then plummeted. … Read more
Stocks kicked off the short week with losses this morning. But just 15 minutes into trading, it looked like the major indices were getting ready to extend their recent win-streak. The NASDAQ lead the major indices higher, and theS&P followed right behind. But the gains were short-lived. Stocks couldn’t recover from an afternoon sell-off, and the S&P’s 6-day win-streak comes … Read more
The median daily transaction fee on the bitcoin network fell to $0.79 on Sunday, a six-month low. That represents a dramatic 97-percent decline from the peak of $34 reached on December 23. The median daily bitcoin transaction fee was more than $10 from mid-December until mid-January but has been declining steadily since then. The high … Read more
The Dow Jones industrial average fell sharply on Tuesday, pressured by a steep decline in Walmart shares and a rise in interest rates. The 30-stock index traded 300 points lower as of 3:15 p.m. ET, with shares of Walmart shedding more than 9.5 percent. The retail giant’s stock was also on track for its worst … Read more
It was quite a week for stocks. With the major indices up 4.3%+ across the board, stocks had their best weekly gain since 2013. It was a great week, but there were some hurdles to overcome. On Wednesday, traders dealt with inflation concerns after a 0.5% increase in monthly consumer prices was reported. Index futures tanks after … Read more
The market may have bounced back from the recent sell-off, but trader Kenny Polcari isn’t confident the upward trend will last. U.S. stocks notched a 5-day win streak on Thursday after suffering a massive sell-off last week. “The speed at which we broke through every one of those technical levels … my sense is it’s … Read more
Stocks finished higher for the 5th day in a row. Although we still have a ways to go until we get back to 2018 highs (the S&P is up 2.2% for the year but 4.9% below January’s high), it’s starting to “feel” like the Bulls are regaining some control. The major indices were green heading into the open … Read more
Markets went crazy when CPI was released at 8:30am ET this morning. The 0.5% CPI increase (vs. a 0.3% forecast) and 0.3% Core CPI increase (vs. a 0.2% forecast) sent futures all over the place. With the increase, traders are worried about inflation all of the sudden (something they haven’t had to worry about for a while). Looking at … Read more
U.S. markets traded higher despite worry over inflation fears and weaker-than-expected economic news to extend its winning streak to 4-straight sessions. The continued follow through remains a bullish signal as the 50-day moving averages for the major indexes are back in play. The Nasdaq showed the strongest gains after zooming 1.9% and trading to an intraday … Read more