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Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index and news review mid-day July 29, 2014

Posted on | July 29, 2014 | No Comments

Stock market index news review and composite trends mid-day July 29, 2014:
Activity in the marketplace was minimal as trading opened in the U.S. this week. Investors stepped into this week with apprehensions. Some apprehension stems from geopolitical turmoil affecting markets right now and some stems from the amount of earnings and economic data scheduled for later this week in the U.S. Investors don’t want to make any glaring mistakes ahead of the influx of data. Notes from the Federal Reserve policy meetings will post soon. The quarterly GDP report will post. Jobless claims and the monthly jobs report will also come later this week.
Last session, the primary U.S. stock composites finished the day mixed. The S&P 500 moved up to 1,978.91. The Nasdaq dropped to 4,444.91 and the Dow Jones Industrial Average moved up to 16,982.59. The noteworthy news as the week opened was merger related. Dollar Tree agreed to buy Family Dollar for $8.5 billion and Zillow agreed to purchase Trulia for $3.5 billion.
Today, prior to opening bell, U.S. stock futures were positive across the board and stocks were set for the stronger open.
In economic news, the S&P/Case-Shiller home price index for May posted. According to this report, home prices fell in May. The price drop was the first in over two years. Specifically, the home price index dropped .3 percent in May which was a surprise considering the gain that economists expected.
Also, the Conference Board released its monthly consumer confidence index. The confidence index rose to 90.9 in July which was the highest level since 2007. This report was much better than expected.
As the trading session reached the halfway point today, the primary U.S. stock composites were in the red across the board.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock market index review mid-day July 29, 2014:
The S&P 500 was lower by .22 percent at 1,974.46. The Nasdaq was red by .02 percent at 4,444.33 and the Dow Jones Industrial Average was lower by .10 percent at 16,965.69 at mid-day.



Frank Matto

Today’s Gold price per ounce Spot gold per gram spot silver per ounce precious metal news review today July 29, 2014 mid-day

Posted on | July 29, 2014 | No Comments

Today’s Gold per ounce price and silver per ounce price precious metal news review mid-day July 29, 2014:
Gold and silver price rose higher to open the trading week. The ongoing geopolitical turmoil continues to pressure the marketplace and erupting violence in places like the Gaza Strip also weighs on investors globally. The associated fear and uncertainty pushed precious metal safe haven appeal and the increase in diversification pushed precious metal price higher yesterday. Gold contract price rose to the electronic rate of 1,307.70 per ounce last session. September silver contract price rose to the electronic rate of 20.70 per ounce. Despite the rise in gold and silver price yesterday, both still post a negative price change according to one month analysis. Current one month price change for gold is still negative by approximately 1.4 percent at this time. Current one month price change for silver is still negative by approximately 1.55 percent. The heightened fear in the marketplace right now may be enough to push precious metal appeal further as this week unfolds. Today, as the trading session reached the mid-day mark, gold and silver prices were moving in divergent directions. Gold price was down and silver price was up.

Today’s gold and silver contract price per ounce mid-day July 29, 2014:
August contract gold price was lower by .4 percent at the electronic rate of 1,298.10 per ounce. September contract silver price was up by .21 percent at the electronic rate of 20.6 per ounce at mid-day.
Spot gold per gram and spot silver per ounce price trend review mid-day July 29, 2014:
Spot gold per gram price down to 41.78 at mid-day today. Spot silver per ounce price was up to 20.58 as of the halfway point in the session today.



Camillo Zucari

EUC 2014; Unemployment Benefit Extension News Review; Congress Unable to Get Job Done

Posted on | July 29, 2014 | No Comments

Unemployment benefit extension deal review today July 29, 2014:
Congress will finish this month and then they will go on recess in August. U.S. lawmakers will get to take off several weeks, a summer break, while millions of Americans remain out of work and out of benefits. Congress initially allowed unemployment benefits to expire for the long term jobless in the U.S. back in December 2013 and have been unable to agree on an extension plan in the seven months that followed. Since December, million of Americans have fallen into the category of unemployed without benefits and Congress has been unable to find bipartisan support for an extension of benefits. Many lawmakers believe that an extension is not necessary to boost the economic recovery process in the U.S. and that an extension of benefits might have a confounding result. Some Republicans have speculated that an extension of benefits at this time might actually elongate the crisis by providing out of work Americans an option to choose unemployment over accepting a job that they might not prefer. Those that agree with this mode of thinking cite the recent drop in the unemployment rate as evidence that an extension is not needed. The New York Times just recently posted data that shows a significant drop in the long term jobless rate. According to the New York Times, the proportion of the workforce that has been out of work for more than 27 weeks dropped to 1.98 percent. Therefore, according to the New York Times, less than a third of all unemployed workers have been out of work for at least six months. Even more crushing to the argument to extend unemployment is that during 2014, the long term jobless rate dropped at a pace faster that any in over 50 years. This data, and the fact that Congress is going on summer recess, greatly diminishes the potential of extending unemployment benefits.



Genny Germano

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review and stock composite trend update July 29, 2014

Posted on | July 29, 2014 | No Comments

Stock market news and stock composite trend review at open July 29, 2014:
This week starter off slow, but will pick up. The Federal Reserve will post notes from its policy meetings and the second quarter GDP data will post at mid-week as well. The biggest news that investors will be waiting on links to the monthly jobs report scheduled to post at the end of the week. The second half of the week is expected to be very busy with economic and earnings data. Investors currently appear positioned to wait on the data before making any major moves.
In recent merger news, Family Dollar and Dollar Tree made headlines. Family Dollar will be purchased by the Dollar Tree company by $8.5 billion. In other merger news, Zillow will purchase Trulia for $3.5 billion in stock.
As the last trading session came to a conclusion yesterday, the primary U.S. stock composites were mixed. The Nasdaq fell into the red last session.

Dow Jones Industrial Average, Nasdaq, S&P 500 close review today:
The S&P 500 rose by .03 percent to close at 1,978.91 last session. The Nasdaq fell back by .10 percent to 4,444.91 and the Dow Jones Industrial Average rose higher by .13 percent to close at 16,982.59.
Stocks were flat last session and investors will tune in today to see if composites can rebound. Earnings and economic reports will be more abundant as this week moves forward and investors are expected to be less apprehensive.



Frank Matto

Gold price and silver price per ounce Today’s SPot gold per gram spot silver rates review July 29, 2014

Posted on | July 29, 2014 | No Comments

Gold price and silver price precious metal market news review today July 29, 2014 at open:
Gold and silver price trend-lines moved in divergent directions early during the opening trading session. Gold price continued to climb higher during the day. Investors were reluctant to make any major moves in the stock market to open the week due to worry and uncertainty linked to global turmoil and geopolitical volatility. Violence in the Gaza Strip has heightened worries and sanctions aimed at Russia are unsettling as well.
Investors also lost confidence due to the negatively skewed new home sales data in the U.S. This could be a sign that the real estate sector in the U.S. is struggling more than most thought.
Due to these concerns, gold’s safe haven appeal garnered attention. Gold price rose higher as a result.
Today’s Gold per ounce and silver per ounce contract close review:
August contract gold price rose higher by .07 percent to post the electronic rate of 1,304.20 per ounce. September contract silver price rose higher by .26 percent to post the electronic rate of 20.62 per ounce. It should be noted that one month price change for both gold and silver is still negative right now.
Spot gold per gram and spot silver per ounce price review today July 29, 2014:
Prior to opening bell today, spot gold per gram and spot silver per ounce prices tracked higher. Spot gold per gram price moved to 41.93. Spot silver per ounce price rose higher to 20.56 prior to opening bell today.



Camillo Zucari

Today’s Gold per ounce Spot gold per gram Spot silver per ounce price review mid-day July 28, 2014

Posted on | July 28, 2014 | No Comments

Gold price and silver price precious metal news update mid-day July 28, 2014:
Gold and silver contract prices rallied during the last full trading session due, in part, to the geopolitical pressures affecting the global marketplace right now. Stocks sunk lower in the U.S. amidst the overseas turmoil emanating from the Middle East. Volatility stemming out of the Ukraine, and the sanctions aimed at Russia, also pressured stock market activity during the last full trading session. Investors moved to diversify and this activity pushed precious metal gold and silver prices higher. August contract gold price rose higher to 1,303.30 per ounce last session and silver price posted at 20.64 per ounce. Gold price bounced higher and snapped a multi-day losing streak. Investors tuned in today to see if precious metal gold price could continue to move higher. As the trading session reached the mid0day mark in the session, gold and silver prices were mixed. Gold price was positive and silver was negative.

Today’s Gold price and silver price contract review per ounce rates mid-day July 28, 2014:
August contract gold price was up by .08 percent at the electronic rate of 1,304.30 per ounce at mid-day. September contract silver price was lower by .08 percent at the mid-day electronic rate of 20.62 per ounce.

Spot gold per gram and spot silver per ounce price review mid-day today July 28, 2014:
Spot gold per gram price posted at 41.91 as of the mid0day mark in the session. Spot silver per ounce price was lower at 20.57 at mid-day.



Camillo Zucari

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market news review mid-day Jul 28, 2014

Posted on | July 28, 2014 | No Comments

Stock market index review and market session news update mid-day July 28, 2014:
The primary U.S. stock composites finished the last full trading session in negative territory as geopolitical pressures weighed on investors, as well as the stock index trend-lines. Sanctions aimed at Russia, and continued volatility in the Middle East, pressured the global marketplace and these pressures continue today. Stock futures were in the red this morning and stocks were positioned for the weaker open today. European stock trends mixed earlier and investors are taking a defensive position. Uncertainty and unease with the global marketplace right now will make a rally difficult, but recent news out of China could help. A 17.9 percent rise in Chinese industrial firms profits in June from a year earlier reveals that the economic recovery in the region is stepping in the right direction.
Here in the U.S., investors will be focused on a mix of earnings and economic data to post later this week. GDP and Federal Reserve notes will post mid-week and the monthly jobs report is scheduled to post as the week ends.
As the trading session reached the mid-day mark, the primary U.S. stock composites continued to move through negative territory. Investors appear reluctant to make any major moves ahead of the deluge of economic reports scheduled for later this week.
Noteworthy merger news includes the report that Dollar Tree plans to buy Family Dollar for $8.5 billion. Additionally, Zillow plans on buying Trulia for $3.5 billion.
Today’s Dow Jones Industrial Average, Nasdaq, S&P 500 stock index review mid-day July 28, 2014:
The S&P 500 was lower by .16 percent at 1,975.23. The Nasdaq was lower by .32 percent at 4,435.26 and the Dow Jones Industrial Average was lower by .15 percent at 16,935.01 as of the mid-day mark today.



Frank Matto

Unemployment Benefit Deal 2014; Long Term Jobless Need EUC but Congress is not addressing the current crisis

Posted on | July 28, 2014 | No Comments

Unemployment benefit extension news review today July 28, 2014:
The months are adding up and it has now been approximately 7 full months since Congress initially allowed unemployment benefits to expire for over a million Americans. Since that time, the number of Americans categorized as long term jobless without unemployment benefits is approaching 4 million. The crisis remains substantial, but Congress has been unable to approve another extension deal. Although multiple attempts have been made, Democrats and Republicans can’t seem to find the bipartisan support that is needed to push another unemployment benefit extension deal through. Despite the recent drop in the unemployment rate, from 6.3 percent to 6.1 percent, the rate still remains elevated. Many believe the unemployment rate in the U.S. is severely skewed due to the way the rate is calculated. Since the unemployment rate is calculated by reporting the number of people who are either working or actively seeking work, those that drop out of this process will not be accounted for and thus the rate could misrepresent reality. Many of the long term jobless in the U.S. are not only upset that Congress has not passed another unemployment extension, but they are also upset at the perception that the economic recovery process may be better off than it actually is at this time. Many believe that Congress is about to go on a month’s long break without addressing one of the primary problems in the U.S. right now.



Genny Germano

Today’s Dow Jones Industrial Average DJIA, Nasdaq, S&P 500 stock market index review and market news at Open July 28, 2014

Posted on | July 28, 2014 | No Comments

Stock market news and stock composite trend review today July 28, 2014:
As the last trading week came to a close, market data was mixed. The Labor Department reported that the number of Americans filing for first time unemployment dropped in significant fashion to a level lower than any other in over 8 years. Initial claims for unemployment dropped by 19,000 to a seasonally adjusted rate of 284,000 for the week ended July 19. This news was much better than anticipated and could be a sign that the U.S. economic recovery process is moving in the right direction. Despite this positively skewed data, the major stock indices fell lower during the final trading session of the week and closed the day with losses. Fear and uncertainty gripped investors last session and this pressured the primary stock composites. The S&P 500 moved lower to close at 1,978.34. The Nasdaq dropped to 4,449.56 and the Dow Jones Industrial Average dropped lower to close at 16,960.57. Investors felt the weight of multiple geopolitical concerns as the last week came to a close. Israel launched a ground offensive in Gaza which represents a significant increase in hostility and violence in the region. The Middle East remains a hotbed of turmoil and the U.S. also recently imposed additional sanctions linked to perceived Russian aggression against Ukraine. Geopolitical tension remains high and this should continue to affect the marketplace as this week’s trading gets underway. Investors will tune in to see if stock composites can rebound.


Frank Matto

Today’s 30 and 15 year mortgage interest rates fixed plans; Home sales and Housing Sector Activity July 28, 2014

Posted on | July 28, 2014 | No Comments

Mortgage rates and housing sector news update today July 28, 2014:
Although mortgage rates were little changed during the last week according to Freddie Mac’s analysis, they remain at relative lows still which could help to spark positive activity in the housing sector as this summer pushes forward.
Current mortgage interest rates update today July 28, 2014:
The interest rate for the 15 year fixed mortgage plan posted at 3.26 percent in the latest week, up slightly from 3.23 percent the week prior.
The interest rate for the 30 year mortgage plan posted at 4.13 percent which was unchanged from the week prior.
Hope remains that the still low rates will support positive activity in 2014. Although existing home sales climbed by 2.6 percent to a seasonally adjusted rate of 5.04 million in June which was the highest pace since 2013, new home sales were much weaker than expected in June. According to the Census Bureau sales of single family homes fell back 8.1 percent in June. This data, paired with the sales data from April and May, implies that the sector’s spring activity was not as good as some economists had anticipated.
The lower mortgage rates can still help to prompt home buying activity and the rise in home price could push some off of the sideline to lock in price and rate before they rise. The median home price last month was up over 5 percent from June 2013. Potential home buyers could be motivated to seek out contracts before rate and prices move higher.



Stephen Johnson

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