Friends Despite a stellar earnings report from Apple, soft economic data and a little “sell on the news” attitude helped send stocks lower today after yesterday’s Fed induced rally. Given the run up in the market averages we saw leading into the Fed decision, it’s not really that surprising...
Friends Stocks took a little bit of breather today, and given the confusing China trade deal headlines and the anticipation/concern about the FOMC announcement tomorrow, it wasn’t really a surprise. On the earnings, both Merck and Pfizer impressed, while engine maker Cummins was a little disappointing (yet the shares...
Friends As we prepare for a very busy week that will include a full calendar of corporate earnings, a Fed meeting which might result in a Fed Funds rate cut, and a full calendar of economic releases, stocks pushed to record all-time highs for the S&P 500 in today’s...
Friends While individual stocks continue to be whipsawed by earnings releases, the market averages continue to climb towards new all-time highs. Even after the negative reaction to the shares of market giant Amazon after its earnings release, stocks stayed firm and added to early gains as the trading session...
Friends More earnings and more mixed reactions. Stocks spent parts of the trading session in both positive and negative territory, as shares of 3M weighed on the Dow while Microsoft’s shares gave the market average a boost. It has certainly, so far, been an earnings season of winners and...
Friends A couple of industrial giants, Caterpillar and Boeing both had “difficult” earnings reports. Amazingly, the shares of both companies ended higher for the day. Once again, as we always say, the actual report is less important than the perception and expectations going into the report. In other words,...
Friends Despite Dow component Boeing’s attempt to drag stocks down, the market averages worked hard to produce decent gains on this first day of a very busy earnings week. Yes, Boeing continues to struggle with the 737 Max story, but corporate earnings should set the tone as the week...
Friends Stocks were trying to hang in there today, but the weight of Boeing and Johnson & Johnson on the Dow finally forced the index to tumble decisively lower. Both of the blue chip names were dealing with special legal situations and nothing really earnings related. Nevertheless, led by...
Friends Not surprisingly, after yesterday’s earnings driven rally, stocks took a bit of a breather today after a somewhat disappointing retail sales number was released before the opening bell. As mentioned, we are just getting started with regards to earnings reports (Bank of America added to the decent reports...
Friends Earnings season has begun, and by all measures it’s off to a pretty nice start. We got positive numbers from Johnson & Johnson and United Healthcare, and the banks led by J P Morgan Chase and Citigroup also provided a catalyst to the market. Dow component Goldman Sachs...
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