There are more warnings of a stock market correction circulating now – especially since the Nasdaq and S&P 500 both reached closing record highs Friday.The Nasdaq Composite closed at a record high on Friday at 5,092.08. That was the first time the index had set a record in more than 15 years. The S&P 500 closed the week at 2,117.69. […]
By Ben LevisohnIt’s that time of the year, when biotech stocks are tumbling–Amgen (AMGN), Celgene (CELG) and Biogen Idec (BIIB) are all down about 3%–and investors looking at the iShares NASDAQ Biotechnology ETF (IBB) and wondering if this is the end of the sector’s astounding run.
Bloomberg News
The answer: Who knows? There’s certainly little in the way of news that would cause […]
“That’s a high-profile move. That could make people concerned,” said Steve Massocca of Wedbush Securities. “It’s not exactly the cheapest group around. It’s got an elevated valuation here. It does nothing but go up. It doesn’t take much to create a wobble.””It doesn’t appear to be hurting other speculative areas. The social media index is up three-quarters of a percent,” […]
Biotech stocks have been surging since their mid-March plunge (back below the 50DMA), but it appears that is at an end as XBI – the SPDR Biotech ETF – is now down almost 7% from Friday’s highs on heavy volume (and back below the 50DMA once again).Which has smashed XBI back below its 50DMA on very heavy volume..This is a […]
“I would be very careful here,” said Kelly on Thursday’s “Fast Money.” “I can’t find too many faults with the quarter, but I’m just talking trading wise—don’t get too aggressive.”Adami echoed that view saying that it was best to start taking profits on the rise that the stock picked up from earnings.Seymour cautioned investors not to get too excited over […]
In last week’s Fakeout or Breakout? I made the case based on the technical evidence that “despite Friday’s drop, I expect last week’s highs in the major averages to be surpassed in the coming weeks.” As you may recall, the S&P 500 was down over 1% on Friday April 17 and the bearish sentiment spiked.In last Thursday’s trading, the NYSE […]
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There’s a huge disconnect in the US stock market right now.A new Bank of America Merrill Lynch survey published Friday finds that US investors have pulled $79B out of equities year to date — including net outflows in 9 of the past 10 weeks — despite stock prices continuing to break new record highs.On Thursday, the Nasdaq closed at its […]
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There’s a huge disconnect in the US stock market right now.A new Bank of America Merrill Lynch survey published Friday finds that U.S. investors have pulled $79B out of equities year to date — including net outflows in 9 of the past 10 weeks — despite stock prices continuing to break new record highs.On Thursday, the Nasdaq closed at its […]
The Sensex plunged 297 points or 1.07 per cent to close Friday’s session at 27,437.94. The Nifty also finished down 93 points or 1.11 per cent at 8,305.25.The sectoral indices were all in the red with realty down 3.83% and consumer durables down 3.18%. Among the other major losers were IT (down 2.78%), capital goods (2.57%), teck (2.33%), bank (1.33%) […]
Benchmarks ended in the red on Friday following investor concern over new equity market regulations in China and Greece’s debt crisis. Meanwhile, AmEx’s dismal earnings results weighed on the Dow. The S&P 500 and the Dow both registered their worst one day percentage decline in more than three weeks on Friday. Benchmarks also finished in negative territory for the week […]
