Friends A much hotter than expected PPI inflation number helped set the tone for a downward tilt to stocks today. Add to that White House advisor Peter Navarro throwing cold water on hope of a trade deal with China and we had stocks as represented by the Dow down...
Friends As expected, the Fed did not raise interest rates today, but short of a total unforeseen event, the FOMC is poised to raise rates in December. After that, they are signaling that we are likely to see 3 more hikes in 2019, and then an additional 3 hikes in...
Friends It appears market participants are quite comfortable with gridlock. After yesterday's election results produced the most likely and anticipated outcome, traders were in a buying mood this morning. The buying urge grew during the President's press conference,...
Friends It is really hard to read much into the market action over the past two trading sessions. There has been an upward bias to the proceedings, but with the election results looming, volume has been light and volatility has been limited. But, having said that,...
Friends Despite weakness in big names like Apple, Amazon, Facebook, and Google, stocks were able to hold on to early gains throughout the trading session. It feels like market participants are a little tentative as we head into tomorrow's mid-term elections, but that...
Friends Stocks gyrated in a nearly 500 point range for the Dow, as China trade headlines (deal or no deal), a strong jobs number and "disappointing" Apple earnings all weighed on market participants. First, let's talk about the fantastic jobs report. Payroll gains...
Friends With a three day winning streak, the bulls are starting to feel a little better about things. Of course, Apple's earnings after the close might set the tone going into tomorrow's trading. In addition, we get the non-farm payroll number tomorrow with analysts...
Friends Thanks for all who participated in our call today. I hope we were able to shed some light on the market action in October. Indeed, despite the last couple of sessions it was a difficult month for stocks. Does the positive action over the last two days mean...
Friends How about that? A big up day for the bulls. Now the test will be can they post some gains tomorrow and put 2 up days together. We've talked about vicious rallies that accompany pullbacks/corrections/bear markets. What we need to see before getting excited, is...
Friends We had 2 large investment banks dueling it out today with Goldman Sachs commenting that the October sell off has been overdone and that we should recover some of the losses by year end. Taking an opposite view was Morgan Stanley who suggests that the October...
Friends Stocks once again were under heavy selling pressure this morning with the S&P 500 falling into correction territory (correction territory is defined by a 10% or more decline from the highs). Earnings disappointments from the likes of Amazon and Google...
Friends Down 600 points one day. Up 400 points the next day. You might wonder what is the difference between yesterday and today in terms of market moves. Well, nothing really. This is how corrections/disruptions/even bear markets play out. Declines are quick and...
Friends Checking in again from the road. As we mentioned, we're likely not done with the volatility, and the ever increasing tensions on the political landscape aren't helping. For the day, the Dow Jones Industrial Average was down 608 points to finish the day at...
Friends Checking in from the road. Stocks had a very volatile trading session today. After being down more than 550 Dow points, stocks rallied back throughout the afternoon to post more modest losses. Earnings have been ok, but as we worried, companies are speaking...
Friends Before I get into today's remarkable rally, I first want you to know that I will be out of the office for the next week and a half. My wife and I are off to celebrate my 60th birthday next week (we tried this 10 years ago for the big 50 and I had to bail...
