• Free Book
  • Store
    • Books
    • Free First Chapters
    • Free Newsletters
  • Recent Articles

TradingMarkets.com

Quantified Stock Market Trading Strategies & Systems

  • Home
  • New Trading Research
  • Education
    • Articles
      • Connors Research
      • ETFs
      • Options
      • Stocks
      • Volatility
    • Trading Lessons
    • Connors Research
    • Glossary
    • Interview Archive
    • Videos
  • Python
  • Quantamentals
    • Quantamentals: The Next Great Forefront of Trading and Investing
    • Quantamentals Resources
  • Courses
  • Store
    • New Book! The Alpha Formula
    • “Buy The Fear, Sell The Greed” – Best Seller!
    • Swing Trading College 2019
    • Trading Books and Guidebooks
    • Street Smarts
    • Online Trading Courses
    • Private Mentoring with Larry Connors
    • Customized Trading Research
    • Amibroker Strategy Add On Modules
You are here: Home / Stocks / Commentary / FOMC Minutes Relief, Stocks Mixed, New Oil Highs

FOMC Minutes Relief, Stocks Mixed, New Oil Highs

April 6, 2010 by David Goodboy

Stocks breathed a sigh of relief today as the FOMC minutes clearly indicated that the Fed has no plans for immediate interest rate hikes. Concerns about unemployment and creating a potential bubble dominated the earlier meeting. Stocks rallied on the news but closed mixed on the day with the DJIA as the laggard. The festering bull market lifted oil prices to 17-month highs as speculators bet big on the recovery. Led lower by Travelers, the DJIA gave back -3.56 to 10969.99, the tech heavy Nasdaq gained +7.28 to 2436.81 and the broad based S&P 500 added +1.99 to 1189.43.

^MEE^: The coal mine owner suffered a massive explosion at a West Virginia mine sending shares tumbling 11.41% or $6.24 to $48.45.

^KBH^: Shares fell 2.83% or 48 cents to $16.51 after the home builder was downgraded to “neutral” at Credit Suisse.

^AN^: The stock price advanced 3.38% or 61 cents to $18.65/share after the car dealer announced first quarter profit is going to beat initial estimates.

^RF^: A share price upgrade at Credit Suisse sent shares higher by 4.40% or 36 cents to $8.55.

Oil eased higher by 12 cents to $86.75, gold gained $1.00 to $1135.20 and the VIX index dropped 4.64% to 16.23.

Are you finding the most relevant high probability setups for your portfolio? With 30 categorized lists of promising setups, find exactly what you need to take your trading to the next level – click here.

Market Snapshot

Dow

-3.56 10,969.99

NASDAQ

+7.28 2,436.81

S&P 500

+1.99 1,189.43
Economic
News

ISM Services (Mar): Consensus: 54.0, Prior: 530.0

Pennding Home Sales (Feb): Consensus: -1.0%, Prior: -7.6%

Minutes of FOMC Meeting: Consensus: NA, Prior: NA

Crude Inventories (04/03): Consensus: NA, Prior: 2.93M

Consumer Credit (Feb): Consensus: $1.6B, Prior: $5.0B

Continuing Claims (03/27): Consensus: NA, Prior: 4662K

Initial Claims (04/03): Consensus: 433K, Prior: 439K

Wholesale Inventories (Feb): Consensus: 0.3%, Prior: -0.1%

Filed Under: Commentary, Recent Tagged With: FOMC minutes, mixed closed, stock market close

Buy The Fear, Sell The Greed

Buy The Fear, Sell The Greed

Swing Trading College

New Book From Larry Connors and Chris Cain, CMT – "The Alpha Formula; High Powered Strategies to Beat The Market With Less Risk"

We’re excited to announce the release of a new investment book written by Larry Connors and Chris Cain, CMT. The book, “The Alpha Formula; High Powered Strategies to Beat The Market With Less Risk “ combines… Hedge fund legend Ray Dalio’s brilliant insight into combining uncorrelated strategies… With new, minimally correlated, quantified, systematic strategies to trade… [Read More]

Buy The Alpha Formula Now

Connors Research Traders Journal (Volume 57): 7 Real-World Reasons Why Short Strategies Should Be Included In Your Portfolio

In our new book, The Alpha Formula – High Powered Strategies to Beat the Market with Less Risk, we show the benefits of including short-strategies in your portfolio. As a reminder, building portfolios should be based on First Principles – otherwise known as truths. These truths are: Markets Go Up Market Go Down Markets Go… [Read More]

Company Info

The Connors Group, Inc.
185 Hudson St., Suite 2500
Jersey City, NJ 07311
www.cg3.com

About Us

About
Careers
Contact Us
Link To Us

Company Resources

Help
Privacy Policy
Return Policy
Terms & Conditions

Properties

TradingMarkets
Connors Research

Connect with TradingMarkets

Contact

info@cg3.com
973-494-7311 ext. 628

Free Book

Short Term Trading Strategies That Work

© Copyright 2020 The Connors Group, Inc.

Copyright © 2023 · News Pro Theme on Genesis Framework · WordPress · Log in