Ennui

Friends A better than expected (but not really great) GDP number and ridiculously good corporate earnings still didn’t cheer up the stock market today. As we have mentioned we appear to be in a good news is “bad” news phase. It’s not like we are experiencing severe selling pressure,...

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Slight Gains

Friends  It was another day of great earnings reports and shaky price action. Boeing lit up the morning with a stellar earnings report which helped the market post gains at the open. But that advance lasted no more than minutes before prices were tumbling once again into negative territory....

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Stocks Fall-Peak Earnings?

Friends  Stocks suffered an ugly reversal today as market participants are concerned about interest rates, earnings peaking and an economy that might have seen its best days for a while. First, we finally broke the 3% barrier on the 10 year Treasury note this morning. That on its own...

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Big Week For Earnings

Friends  Buckle up. It’s going to be a big week for earnings. Today’s action was mixed as stocks were higher early in the day, but tilted to the negative in the afternoon part of the trading session. The 10 year Treasury Note yield flirted with 3% early in the...

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Inflation, Yields, Stocks

Friends  With a little whiff of inflation, bonds sold off just a bit this morning which got the attention of the stock market. Stocks sold off, led by a big drop in the price of consumer staples, namely P&G, Clorox, Altria (Philip Morris) and others. With the uptick of...

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Quiet For A Change

Friends  The lack of volatility today had me checking my screen to make sure it was working. Since February, we have seen massive volatility both from day to day and intraday, so day’s like today stand out for being quiet. Earnings continue to trickle out and as we mentioned...

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Good Earnings

Friends  Stocks enjoyed another nice advance today, buoyed by good corporate earnings and the absence of distracting headlines. We are believers that this is going to be a good earnings season, and though it is very early (the bulk of the S&P’s earnings will be released over the next...

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