riends After a difficult September, October began with such promise. But, once all was said and done, October turned out to be the worst month for stocks since March. Over the last couple of weeks, the rise of Covid-19 cases, the lack of a stimulus deal, and the...
Friends As expected, we saw a blow out 3rd quarter GDP number this morning. Now, of course it is coming after a disastrous 2nd quarter GDP number, but it does give us an indication that the economy was improving as we entered the 4th quarter. Of course, now we are...
Friends Despite some good earnings reports, such as the one delivered by Microsoft after the close yesterday, stocks just could not overcome the wave of disturbing news concerning the coronavirus continuing to blow up in the U.S. and Europe. Add to that, that...
Friends It was a very mixed day for stocks. After earnings from the likes of Caterpillar and 3M, the industrials came under selling pressure, while at the same time the big tech names saw a lot of buying activity sending the tech heavy Nasdaq up nicely for the day....
Friends Stocks came under heavy selling pressure at the open this morning, and the sellers continued to keep up the assault as the trading session wore on. Sure, investors are concerned that a stimulus deal will not get done before the election, but the rapid rise of...
Friends It was an odd trading day for stocks. Headlines about the stimulus deal caused their usual volatility, and of course we are dealing with earnings news on a company by company basis, but what looked like it could be a difficult day turned into a bit of a...
Friends Hopeful comments from the Speaker of the House turned stocks this morning from a selloff to a rally, but as we know these moves have been tentative lately. We are seeing some positive signs in the economy just as we are seeing Covid-19 cases rise. So the...
Friends It was a choppy day for stocks as attempts to rally were met with selling pressure. Investors seem to be running out of patience with the stimulus bill negotiations, as the headlines seem to change on an hourly basis. Netflix had the most talked about...
Friends Stocks got a boost midday on constructive comments from the Speaker of the House about a stimulus deal, but seemed to begin to doubt that a deal could actually get done and passed before Election Day. But, stocks were able to post decent gains for the...
Friends Stocks sold off a bit today, maybe in sympathy with the anniversary of the October 19,1987 crash. If you are old enough you might remember that one. I was in my 3rd year in the business at Merrill Lynch back then when stocks fell almost 23% in one day. People...
Friends Stocks finished a choppy week on a calm note. Despite the rising Covid-19 case numbers around the world, and the lack of a stimulus deal out of Congress, stocks continue to be resilient. The retail sales number this morning was very much better than expected...
Friends Stocks tumbled at the open, but as the trading session wore on buyers continued to nibble and by the close the damage was minimal. Big Tech names struggled the most while the transports, financials, energy and consumer staples fared the best. The stimulus deal...
Friends It was another soft day of trading for stocks as traders seem more and more convinced that a stimulus deal is unlikely to get done before the election (Treasury Secretary Mnuchin indicated the same). We continue to get earnings from the big banks and despite...
Friends Stocks took a pause today, and that may not be a bad thing after the run we've had over the past couple of weeks. Apple's somewhat boring iPhone rollout, Eli Lilly and J&J 's drug trial pauses, and perhaps the realization that a stimulus deal may not...
Friends Stocks continue to climb despite the lack of a new stimulus deal. Are investors emboldened by the success we are reportedly seeing in Covid-19 treatments including therapeutics and vaccines? Is the market becoming more comfortable with a Biden victory,...
