Friends It was a little sloppy, but when all was said and done it was a pretty good day for stocks. Retailers in general had a good showing led by Walmart and their enormous stock buyback announcement. The pattern has been when retailers go up then Amazon goes down...
Friends Stocks showed a little sign of nerves during today's trading session as we look to enter the latest earnings season. Indeed, shares are somewhat priced for perfection, so any disappointments will likely be greeted by a hostile reaction. With the bond market...
Friends Stocks took a breather today on the heels of the distorted non-farm payroll number. Because of the effect from the storms the economy lost 33,000 jobs in September, many in the service sector including restaurant workers. The unemployment rate did actually...
Friends Stocks drifted aimlessly, but mostly in positive territory as the bulls may have been simply taking a bit of a breather. We did get an extremely hot ISM non-manufacturing number, but the ADP private payroll came in a little shy of expectations. Nevertheless,...
Friends The bulls won't even let the bears catch their breath. Another day of trading and another day of new highs. All this is happening in a very calm and deliberate manner, almost numbing market participants for the time being. Of course, all this while the...
Friends I get butterflies every morning when I turn on my phone and check the news. Today's tragedy just made my heart sink. I know this is the world we live in, but that doesn't make it any easier to deal with. Anyway, despite the horror in Las Vegas and the...
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...
