Friends Stocks coasted into the end of the 3rd quarter sporting all-time highs. Despite geopolitical unrest, hurricanes and domestic political theater on an almost daily basis, the bears have not been able to muster any resistance. The bulls seem unstoppable as we...
Friends Despite the full court press by the White House and members of Congress with regards to the tax reform outline, stocks had very little direction today. The revised 2nd quarter GDP number showed 3.1% growth, which was slightly better than the last revision,...
Friends As bad as the momentum stocks have fared for the last week, is how good they looked today. Big moves is Google, Amazon, Netflix and Facebook led the Nasdaq higher. The banks also rallied on the move higher in interest rates which helped the S&P move...
Friends Well today was hardly worth a clean shirt and a cab fare. That's an old saying on Wall Street, and it basically means that not much happened. The momentum stocks tried to bounce back a little and Apple actually had a good day, but other than that, there just...
Friends Most notable about today's market action was the massacre among the momentum names like Netflix, Amazon, Facebook and Google which caused damage in the Nasdaq index. Apple shares also continued to act poorly. Interestingly, as we mentioned last week, money...
Friends Stocks tried to sell off today, they really did. Apple shares were weak as critics noticed lines weren't very long for the first day of sales for the iPhone 8, and also that there are issues with the new watch. But taking aim at Apple hasn't been a very good...
Friends Stocks finally saw a little weakness today after nine consecutive up days, but nothing earth shattering. At this point, I think the bears will take anything and not really care why stocks dropped. Market participants are still pondering yesterday's FOMC...
Friends The Fed, as expected left interest rates unchanged, but it wasn't all quiet with regards to the FOMC statement and Chair Yellen's subsequent press conference. Though they did not raise rates this time the Fed did indicate that there is a likelihood that they...
Friends Stocks continue to inch higher on what seems like a daily basis. The President gave a fiery speech at the UN today, but it had little effect on markets. The housing starts number was good, but did show some effects from Harvey as results fell in the South...
Friends Stocks continue to climb to new highs as we gear up for a busy week of economic news including an FOMC meeting which begins tomorrow. Now, we don't expect a rate hike at this meeting, but we might get the beginning of the balance sheet unwinding. I'm sure the...
Friends Despite a lousy retail sales number (could be affected by Hurricanes) and more drama from the North Koreans, stocks still advanced to new highs. It appears that the bears just can't get a break, as despite all types of headline risk, stocks continue to forge...
Friends Stocks ended the day mixed, with only the Dow sporting a modest gain. For the first time in a while, the CPI number came in at the higher end of the analysts' estimates, which may allow the Fed to proceed with the balance sheet reduction program without...
Friends While the President huddled with members of both parties discussing tax reform, stocks drifted quietly higher. There was very little volatility to speak of as market participants seem to be searching for the next catalyst. As mentioned on Monday, before...
Friends The big news of the day was Apple unveiling its new products, including 3 new phones and a new watch which doesn't need to be tethered to a phone. Typically, Apple shares rise as anticipation about the new products builds. Then, when the products are...
Friends Florida got hit bad by hurricane Irma, but it wasn't quite the destructive blow that many had feared. Add that to the fact the North Koreans didn't fire any missiles or do additional nuclear tests over the weekend, and market participants were poised and...
