Friends
The only major economic news today was Apple’s new iPad rollout and the ADP employment number which came in as expected with around 215,000 new jobs for February. Perhaps this sets the tone for Friday’s government employment number.
Stocks bounced back some after yesterday’s downturn with the Dow gaining 78 points to close at 12,837 while the S&P added 9 points to end at 1,352. Oil finished the day at $106.35 and gold rose $14 to $1686.
Have a nice evening everyone.
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...
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...
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...
