Friends Though earnings are not beating estimates (they are off about 2%-3%), corporate revenues are slightly ahead of analysts’ estimates as we near the halfway point of this earnings season. So far, it appears that stocks were priced for something worse. Tesla surprised after the close yesterday with...
Friends Stocks got off to a rocky start this morning with the Dow down over 300 points in early trading. But buyers stepped in and pushed the market averages higher, with the aforementioned Dow actually moving into positive territory by more than 100 points. After some back and...
Friends The bulls made an appearance at today’s trading session after a surprisingly good earnings release from Netflix yesterday after the close. The tug-of-war over the next couple of weeks will be between corporate earnings and Fed Speak. Stay tuned. As for today, by the close the...
Friends The bears have made their presence known so far this week. After a good start to the year for the bulls, reality that the economy is slowing, and the Fed doesn’t seem to care has begun to set in. Today’s PPI and Retail Sales numbers showed again...
Friends Stocks were lower today but most of the damage was done in the Dow Jones Industrial Average. Huge declines in Goldman Sachs and Travelers dragged the Dow lower while the other market averages fared better. Goldman’s earnings miss was curious given that Morgan Stanley, a huge competitor, had...
Friends Good news on the employment front (the ADP private payroll number was much hotter than expected) was bad news for stocks today. Add to that comments from Fed officials confirming the higher for longer stance with regards to interest rates and the bulls didn’t really have a...
Friends 2023 started off with somewhat of a whimper today as stocks were lower throughout the trading session but closed well off the lows of the day. Big names Apple and Tesla struggled mightily and weighed on the market averages. It wasn’t all bad as industrials and financials...
Friends The bulls were able to crank up a little rally music today, but it did seem somewhat half-hearted. Despite the push higher stocks are still down nearly 20% as measured by the S&P 500 and nearly 34% as measured by the Nasdaq year-to-date. Bonds are also down...
Friends It appears that the bulls are taking 2022 in for somewhat of a crash landing. No, the guy in the red suit is not involved. As a matter of fact, he is nowhere to be found at the moment. Instead, relentless selling into year end seems to be...
Friends Hopes and dreams of a spirited Santa Clause rally fell to earth today as the bulls could never really get anything going that even resembled enthusiasm for stocks. Retail sales jumped nearly 8% for the holiday season but a lot of that increase was reflected in higher prices...
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