Friends November ended up being a very good one for the stock market, though it did close on a bit of a sour note today. More than reading anything nefarious into today’s proceedings, it might be best explained by saying that after the advance we have seen...
Friends After yesterday’s historic day for the Dow Jones Industrial Average, it appeared that the bulls spiked the ball and went home for Thanksgiving. Yes, there was a little profit taking in some of those Dow names, but market participants still showed interest in...
Friends We mentioned that markets tend to favor Thanksgiving week and so far so good. The markets seem to be enamored with the choice of Janet Yellen as the next Treasury Secretary and there was a collective sigh of relief when word came that the administrative...
Friends The markets got a double shot of good news today with yet another Monday morning vaccine announcement, this time from AstraZeneca, and then later in the afternoon the report that former Fed Chair Janet Yellen will be Joe Biden’s nominee for Treasury...
Friends Buyers just didn’t seem interested today. For the most part, it was a quiet day for the market averages, but it had a downward tilt to it. A minor spat between Treasury Secretary Mnuchin and Fed Chair Powell over some lending reserves that were...
Friends It was a choppy day for stocks as the range of traders' emotions went from despair (Covid-19 cases rising causing more and more shutdowns) to hope (McConnell and Schumer talking about stimulus) throughout the trading session. It has been a tug of war between...
riends Like yesterday, despite good earnings from a couple of retailers, namely Target and TJ Maxx, stocks struggled later in the trading session. Pfizer updated the efficacy number for their Covid-19 vaccine to 95%, but cases of the virus continue to explode and shut...
Friends It was a sell the news kind of day for the stock market, though the averages closed well off their lows for the day. Both Walmart and Home Depot had stellar earnings reports, but because both were trading near all-time highs, market participants decided to...
Friends We mentioned last week that there was a good chance we would hear from Moderna this week about their Covid-19 vaccine and indeed we did this morning. Using similar technology to Pfizer’s vaccine, Moderna’s efficacy was even better than the Pfizer...
Friends Despite concerns over the virus continuing to blow up across America, and threats of more shutdowns, stocks had a very good day. Today's advance was a little more broad based with strange bed fellows consumer staples and industrials enjoying good days....
Friends It was a difficult day for stocks as traders are concerned about further shutdowns as the virus continues to blow up. Also, though it should be no surprise, the odds of a stimulus deal, given the political uncertainty/environment, before the end of the year...
Friends It was another mixed day for stocks with the Dow, once again, leading the way higher, while Nasdaq continues to see selling pressure. Many of the "stay at home" stocks continue to be sold while the "everything will be back to normal" stocks got bought for a...
Friends As I mentioned this morning, despite continued political theater, Pfizer's Covid-19 vaccine results was today's major news story. Yes, we have a long way to go. First we need FDA approval for this and hopefully other vaccines. Then we have to produce these...
Friends I am sure by now you have heard the news that Pfizer's early stage 3 Covid-19 vaccine results came in much better than expected. With an efficacy rate of near 90% this is very exciting news. Moderna, who uses a similar technology to develop their vaccine, is...
Friends After a very strong week for stocks, it was pretty impressive that every attempt to take the market down today was met with more buying support. Sure, Covid19 is blowing up again and there is still likely some drama ahead in the presidential and senate races,...
