Friends Stocks continued to drift with a slight negative bias today as economic data continues to send mixed messages. The recent corporate earnings season provided the bulls some evidentiary hope for the coming quarter or two, but today’s beige book report confirms that whatever momentum the economy had is...
Friends Market participants returned from the holiday weekend somewhat uninspired. The never-ending battle between the press and the President doesn’t help the situation, but by week end the focus should be on the employment picture. On Thursday we get the ADP private payroll number and on Friday we get...
Friends It appears that market participants began the Memorial Day Weekend a bit early. Stocks were virtually motionless today as both the bears and bulls headed for the Hamptons. This morning, the 1st quarter GDP was revised upward slightly, but there really wasn’t any real headline news to trade...
Friends Stocks continue to rally into the upcoming holiday weekend despite getting no help from energy or financial shares. The winners are the same ones that have been winning for some time now. Google (Alphabet), Amazon, Apple, Facebook and Netflix shares seem to climb higher every trading session, while...
Friends The bulls continue to build on the rally that began after last Wednesday’s pullback. The existing home sales number was weak, but that might simply be the lack of supply of affordable homes on the market nationwide. The price index continues to show rising prices which would...
Friends The White House unveiled the President’s first budget proposal this morning and the howling began immediately thereafter. How dare anyone suggest that we need to tighten our belts. The main street narrative is that the Trump administration wants to cut vital programs to support a tax cut. You...
Friends Traders showed up this morning looking to put some money to work as stocks rallied from the opening bell. Oil prices have crept higher in recent sessions, but that hasn’t really led to any real rally in energy shares. Nevertheless the bulls seem to be back in charge...
Friends Stocks had a nice day, but were having even a nicer day (Dow up about 194 points) until a couple of fresh political headlines hit the tape. This is the investment world in which we live now. At any moment a headline can appear that jolts the trading...
Friends Stocks recovered some from yesterdays thumping, but it was hardly convincing. It appeared that there might be some follow through from yesterday’s selling pressure, but buyers stepped in early in the trading session and began to buy some of the beaten down tech and financial shares. The political...
Friends Today was the NYSE’s 225th birthday. It wasn’t very cheery. Stocks plummeted during the trading session as the “impeachment” term was more than casually tossed around by politicians and news pundits. I’m not going to get caught up in all of that nonsense, but it is fair to...
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