Friends The reopen rally continued today as stocks opened higher, gave some back, but closed strong. Most notably is that stocks that had benefited from people being quarantined have run into some profit taking, while shares of cyclicals, banks and companies in...
Friends Stocks enjoyed another positive trading session as hopes that the reopening of America could lead us back to some sense of normalcy. Of course, we are constantly in a wait and see mode these days, but despite some blatant disregard for social distancing that...
Friends It appeared that everyone is ready for a 3 day holiday weekend. We don’t have anywhere to go, mind you, but at least we have a few days to unwind and try to get away from the stress of the Covid-19 world. To that end, trading was uneventful today. Stocks spent...
Friends We had another horrific first time unemployment claims number this morning. These numbers are mind numbing, but obviously we all hope that they are temporary. Of course, as time goes on we’ll find out which of these job losses are permanent and which are not....
Friends The bulls were able to recapture yesterday’s late day selloff to put the market back on track for a positive week heading into the Memorial Day weekend. Retail earnings from the big boys like Walmart, Target, Home Depot and Lowe’s have all been pretty good,...
Friends It was a somewhat quiet and nondescript trading session until a report surfaced questioning the excitement around Moderna's vaccine news yesterday. Traders seemed to seize the moment to take a few profits and stocks gave back a little of yesterday's monster...
Friends On Sunday night, CBS 60 Minutes aired an interview with Fed President Jerome Powell in which he again reiterated that the Fed has plenty of firepower to support markets and it will use every bit of it if necessary. This put a little charge into stock futures...
Friends The retails sales number for April was understandably awful. Again, when you shut everything down, numbers are going to be terrible. Stocks tumbled a little at the open, but by the afternoon had made it into positive territory. After some back and forth...
Friends It looked like the bears were firmly entrenched on the high ground as stocks tumbled once again at the open. But, as the trading session wore on the bulls were able to take the hill and send the bears scurrying into the woods. Translated, stocks dropped over...
Friends The last couple of trading sessions show us just how fast sentiment can change, especially in environments like we find ourselves in at the moment. Fueled by Fed speeches and a series of market pundits declaring that stocks seem particularly rich right now...
Friends Anxiety about opening up the economy and the possible health effects that may result seemed to weigh on stocks today. The virtual testimony of Dr. Fauci and others before the Senate set a different tone than one that has emanated from the White House...
Friends It was a pretty quiet trading day with mixed results. Nasdaq keeps pushing towards previous highs led by the likes of Microsoft, Apple, Amazon, Google, Netflix and Facebook, but many other areas of the market are struggling. The Dow traded down a couple of...
Friends Stocks were drifting along, minding their own business when a mini late day selloff interrupted things. The usual suspects, Apple, Google, Amazon etc., had been keeping stocks in positive territory for most of the trading session, but they also gave up some...
Friends Stocks were on the way to having a very nice day, but ran into a bit of a wall in the last hour of trading. Whether comments from a Fed official or just a moment of economic realization, the bulls seem to step away from the Fed’s overflowing punch bowl as the...
Friends Warren Buffett held a virtual Berkshire Hathaway annual meeting on Saturday and considering the cautiousness that the famed investor displayed, it is surprising that stocks fared as well as they did today. We found out that Mr. Buffett sold all of his airline...
