April 24nd 2014 – Ukraine Curbs Broader Market gains

Market View:

Well, the market got exactly what it wanted last night and today in terms of earnings news from Apple, Facebook and Caterpillar as well a good report on Durable Goods.  However, it seems that the shadow of uncertainty in Ukraine and the intentions of Mr. Putin clouded what should have been a big rally in Tech stocks at least.  Markets don’t like uncertainty especially around potential conflicts.   Hopefully the situation can calm in the coming days and weeks and the sooner the better.

Market News:

U.S. stocks fluctuated between gains and falls on Thursday as Apple’s earnings and a better-than-expected durable-goods number were offset by concerns about escalating tension between Russia and Ukraine.

The technology sector was also lifted by earnings from Facebook and Texas Instruments.

Worries about Ukraine hit Germany’s DAX equity index, which turned negative after reports quoting Russia’s defense minister as saying Russian troops had begun military drills near the Ukrainian border.

In a related development, the International Monetary Fund on Thursday said Ukraine had met conditions for a financial aid package, which will be reviewed on April 30 when the IMF board meets.

Thursday’s economic reports had orders for durable goods rising 2.6 percent in March, ahead of a 2 percent estimate.

Another report had more Americans than projected filing for jobless benefits last week.

Friday

Earnings: Ford, Colgate-Palmolive, Goodyear Tire, Honda Motors,Moody’s, Covidien, VF Corp, Weyerhaeuser, Dana Holding, Tyco, WPP Group, State Street, AON, American Electric Power

8:58 a.m.: Services PMI

9:55 a.m.: Consumer sentiment