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Stocks Bounce Back From Ugly Thursday
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US markets saw a sharp turnaround from Thursday's geopolitics-driven rout.

Russian President Vladimir Putin called for a ceasefire in eastern Ukraine, where pro-Russian separatists are believed to have downed a Malaysian Airlines aircraft Thursday. There has been some speculation that Putin would have to clamp down on the separatist movement as a result of the tragic plane crash, which would be a plus for global market stability.

Additionally, investors may have leaned too negative on Thursday, which also saw Israel begin an invasion of Gaza.

The VIX (INDEXCBOE:VIX) rose 32% yesterday, which on a historic basis, constitutes an enormous move and is indicative of major fear.

Today, as investors caught their collective breath, the VIX dropped 16% as the S&P 500 (INDEXSP:.INX) rebounded 1.0% to close at 1,978.22.

Additionally, gold and US Treasuries sold off, while riskier assets like tech stocks and junk bonds bounced, indicating that -- in keeping with recent history -- the bulls will not be easily shaken by geopolitical events.

Earnings news supported the action, with NASDAQ Composite (INDEXNASDAQ:.IXIC) heavyweight Google (NASDAQ:GOOG) impressing investors with its strong revenue growth.

Apple (NASDAQ:AAPL) also did some heavy lifting for the major indices, rising 1.4% to $94.43 ahead of next week's earnings report.

Both General Electric (NYSE:GE) and IBM (NYSE:IBM) had modest sell-offs on their respective earnings reports, while Advanced Micro Devices (NYSE:AMD) dropped 16.2% on weak guidance.

In economic news, the July University of Michigan Sentiment Survey was 81.3, slightly below the 83.0 consensus. And the June Leading Economic Indicators Index was 0.3% vs. the 0.5% expected.

Tomorrow's Financial Outlook

The June Chicago Fed National Activity Index will be reported at 8:30 am ET.

Some major companies will report earnings, including Halliburton (NYSE:HAL), ManPower (NYSE:MAN), and Texas Instruments (NYSE:TXN).

However, even with Friday's rebound, investors remain focused on Eastern Ukraine and Israel. News out of those regions could impact the trading action.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Stocks Bounce Back From Ugly Thursday
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US markets saw a sharp turnaround from Thursday's geopolitics-driven rout.

Russian President Vladimir Putin called for a ceasefire in eastern Ukraine, where pro-Russian separatists are believed to have downed a Malaysian Airlines aircraft Thursday. There has been some speculation that Putin would have to clamp down on the separatist movement as a result of the tragic plane crash, which would be a plus for global market stability.

Additionally, investors may have leaned too negative on Thursday, which also saw Israel begin an invasion of Gaza.

The VIX (INDEXCBOE:VIX) rose 32% yesterday, which on a historic basis, constitutes an enormous move and is indicative of major fear.

Today, as investors caught their collective breath, the VIX dropped 16% as the S&P 500 (INDEXSP:.INX) rebounded 1.0% to close at 1,978.22.

Additionally, gold and US Treasuries sold off, while riskier assets like tech stocks and junk bonds bounced, indicating that -- in keeping with recent history -- the bulls will not be easily shaken by geopolitical events.

Earnings news supported the action, with NASDAQ Composite (INDEXNASDAQ:.IXIC) heavyweight Google (NASDAQ:GOOG) impressing investors with its strong revenue growth.

Apple (NASDAQ:AAPL) also did some heavy lifting for the major indices, rising 1.4% to $94.43 ahead of next week's earnings report.

Both General Electric (NYSE:GE) and IBM (NYSE:IBM) had modest sell-offs on their respective earnings reports, while Advanced Micro Devices (NYSE:AMD) dropped 16.2% on weak guidance.

In economic news, the July University of Michigan Sentiment Survey was 81.3, slightly below the 83.0 consensus. And the June Leading Economic Indicators Index was 0.3% vs. the 0.5% expected.

Tomorrow's Financial Outlook

The June Chicago Fed National Activity Index will be reported at 8:30 am ET.

Some major companies will report earnings, including Halliburton (NYSE:HAL), ManPower (NYSE:MAN), and Texas Instruments (NYSE:TXN).

However, even with Friday's rebound, investors remain focused on Eastern Ukraine and Israel. News out of those regions could impact the trading action.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Stocks Bounce Back From Ugly Thursday
Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

US markets saw a sharp turnaround from Thursday's geopolitics-driven rout.

Russian President Vladimir Putin called for a ceasefire in eastern Ukraine, where pro-Russian separatists are believed to have downed a Malaysian Airlines aircraft Thursday. There has been some speculation that Putin would have to clamp down on the separatist movement as a result of the tragic plane crash, which would be a plus for global market stability.

Additionally, investors may have leaned too negative on Thursday, which also saw Israel begin an invasion of Gaza.

The VIX (INDEXCBOE:VIX) rose 32% yesterday, which on a historic basis, constitutes an enormous move and is indicative of major fear.

Today, as investors caught their collective breath, the VIX dropped 16% as the S&P 500 (INDEXSP:.INX) rebounded 1.0% to close at 1,978.22.

Additionally, gold and US Treasuries sold off, while riskier assets like tech stocks and junk bonds bounced, indicating that -- in keeping with recent history -- the bulls will not be easily shaken by geopolitical events.

Earnings news supported the action, with NASDAQ Composite (INDEXNASDAQ:.IXIC) heavyweight Google (NASDAQ:GOOG) impressing investors with its strong revenue growth.

Apple (NASDAQ:AAPL) also did some heavy lifting for the major indices, rising 1.4% to $94.43 ahead of next week's earnings report.

Both General Electric (NYSE:GE) and IBM (NYSE:IBM) had modest sell-offs on their respective earnings reports, while Advanced Micro Devices (NYSE:AMD) dropped 16.2% on weak guidance.

In economic news, the July University of Michigan Sentiment Survey was 81.3, slightly below the 83.0 consensus. And the June Leading Economic Indicators Index was 0.3% vs. the 0.5% expected.

Tomorrow's Financial Outlook

The June Chicago Fed National Activity Index will be reported at 8:30 am ET.

Some major companies will report earnings, including Halliburton (NYSE:HAL), ManPower (NYSE:MAN), and Texas Instruments (NYSE:TXN).

However, even with Friday's rebound, investors remain focused on Eastern Ukraine and Israel. News out of those regions could impact the trading action.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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