Bulls Feeling Better

Nov 1, 2018 | Market Commentary

Friends 

With a three day winning streak, the bulls are starting to feel a little better about things. Of course, Apple’s earnings after the close might set the tone going into tomorrow’s trading. In addition, we get the non-farm payroll number tomorrow with analysts expecting 190,000 new jobs to have been created in October. 

As for today, by the close the Dow Jones Industrial Average was up 264 points to finish the day at 25,380. The S&P 500 was up 28 points to close at 2,740. Gold was up $20 to trade at $1,235 per ounce, while oil was down $1.80 to trade at $63.51 per barrel WTI. 

Apple’s earnings and the jobs number will both be catalysts tomorrow. Let’s see which way these catalysts send us. 

Have a nice evening everyone.

Recent Posts

Tech Stocks Continue to Drag Market Lower

Tech Stocks Continue to Drag Market Lower

Friends The weakness in tech/AI stocks continues and the market averages, especially the Nasdaq, continue to lose ground as we get closer to year end. Instead of taking a victory lap the stocks that have been the leaders all year long are now cowering nervously in the...

Stocks Mostly Lower after Employment Data Release

Stocks Mostly Lower after Employment Data Release

Friends This morning’s release of the November non-farm payroll number showed that 64,000 new jobs were added, which was better than analysts had expected. The unemployment rate did tick up to 4.6%, which was actually more than expected. It’s hard to determine if this...

Stocks Soft As Economic Data Looms

Stocks Soft As Economic Data Looms

Friends Today was pretty much the same script we have seen over the past couple of weeks. The AI/big tech names came under selling pressure enough to take the market averages into negative territory. It’s hard to read too much into recent market action as we are so...