Friends It was more of a mixed day today for stocks, with the Nasdaq led by tech still weak, while consumer staples helped keep the Dow and the S&P more neutral. I guess you could identify today's action as rotation, but the movement into staples seemed more like...
Friends It was just another stunning day of volatility as the Dow had a more than 600 point trading range. At midday stocks had a nice leg up, only to reverse and collapse as the afternoon wore on. The causes of today's action. Well, tech was the most damaged sector...
Friends Tariffs? What tariffs? After Treasury Secretary Mnuchin among others attempted to clarify the Administration's trade policies over the weekend, the bulls were back ready to buy from the opening bell this morning. With the S&P having its 3rd successive day...
Friends The President was the market's best friend for a while, but has quickly become the market's worst enemy. As tariffs are signed into existence the fear that retaliation will follow appears to be quickly becoming reality. The Chinese are rattling their...
Friends It was a difficult day for stocks. Whether it be the old momentum darlings losing their luster or just a broad base selloff due to the President announcing tariffs aimed at China, the bears seem to be firmly in control of the situation. Sure interest rates...
Friends As expected the Fed raised the Fed Funds rate a quarter of a point with the new range now 1.50% to 1.75%. In their continuing attempt to scale back accommodation, the statement and subsequent testimony from Fed Chair Jerome Powell indicates that there will...
Friends As we wait for tomorrow's Fed release, markets were once again occupied with the Facebook/Cambridge Analytica story. Cambridge suspended its CEO today, and if I didn't know better, Facebook's Mark Zuckerberg might have suspended himself. Both he and COO...
Friends Stocks has a difficult day led by the shares of Facebook which had a very difficult day as a result of news that their platform is mined for information that can be used in questionable ways. Feel free to review various published stories on the subject, but...
Friends Stocks had a nice quiet day as the market averages lingered in mainly positive territory while, for a day at least, there weren't any drastic headlines. The economic data was somewhat of a mixed bag with Industrial Production showing renewed life, Consumer...
Friends It was another odd day for markets as political headlines continue to frustrate traders whichever way they are leaning, and yet another tragedy-this time a just opened pedestrian bridge collapse in Florida. Stocks tried to rally more than once as the Dow...
Friends I've watched Larry Kudlow on television now for decades and he seems like a very nice man, so I'm not going to blame today's selloff in stocks on the fact the he was named head of the President's Economic Council to replace Gary Cohn. On the contrary his...
Friends Despite a CPI number that was as expected and not too hot or too cold, stocks weren't able to hold their early gains and sold off during the afternoon part of the trading session. Perhaps the markets were concerned about the continuous turnover in the White...
Friends It was a Goldilocks jobs report - a way better than expected jobs number, and wages that only rose slightly. Growth without inflation! Sign me up. That's basically what the bulls said as a stock buying stampede ensued. By the close, the Dow Jones Industrial...
Friends Traders spent the day with one eye on the television as the President was speaking at a cabinet meeting and then this afternoon at a press conference to announce his tariffs. Stocks looked pretty much confused by all the rhetoric with the market averages...
Friends After the announcement of the resignation of Chief Economic Advisor Gary Cohn from the White House, stocks were supposed to plummet today. Well, we did get a 300 plus point Dow selloff in the morning, but as the trading session wore on, buyers appeared and...
