Friends It was a big week for earnings and for the most part Corporate America delivered results that were better than expected. Sure, some stocks went down after good/decent earnings and some even went up after bad earnings, but for the most part the bulls have to be...
Friends We still have to hear from Amazon today after the close and Apple next week, but earnings from big tech giants appear to be coming to the rescue of the bulls. After the close yesterday Meta (Facebook) joined Microsoft and Google earlier in the week, in delivering...
Friends Despite some pretty good earnings reports from behemoths Microsoft and Google, stocks after trying to rally early, had another difficult session. First Republic Bank circling the drain is not helping any as news about the bank continues to weigh on market sentiment. In general, though, we are seeing...
Friends Despite various share price reactions to earnings released after the close yesterday and before the open this morning (some good, some bad), stocks in general were pretty quiet until word that troubled bank First Republic was exploring asset sales. Bond yields fell and the stocks followed. 77%...
Friends Stocks drifted aimlessly today, as traders are apparently waiting for what is going to be a huge week for corporate earnings. But while the markets meandered, it was the night of the long knives in media land. A network head steps down, while 2 major on air...
Friends A combination of weak economic news (elevated jobless claims, slumping leading indicators and reduced manufacturing activity) and less than stellar earnings reports (AT&T, Tesla, Seagate, American Express) sent stocks lower in today’s trading. The long slow walk towards recession continues it appears, or at least in the...
Friends It was another very quiet day of trading despite the moves in some of the stocks that reported earnings. Netflix sold off on its earnings release while Travelers’ shares soared higher. Morgan Stanley’s earnings looked good but at first the stock sold off. But by the close...
Friends There was a lot of volatility today but within a fairly tight trading range. Part of the confusion today was the different share price reactions to some of the morning’s earnings releases. Johnson & Johnson appeared to beat analysts estimates convincingly but the stock went down. Goldman...
Friends To be clear, we have been cautious/bearish with regards to stocks (and bonds) since late 2021 when the Fed declared war on inflation. We said then and have reiterated for a year and a half that the Fed’s pivot towards tighter monetary policy was going to take time...
Friends Our first look at earnings reports was very interesting. Big banks like JP Morgan Chase and Citi had good numbers and their shares moved nicely higher. Wells Fargo and PNC Bank had decent numbers also, but their shares fared a lot worse. United Health seemed to surprise...
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