Archive for category: Market Commentary

Big Names Keep Rolling

Big Names Keep Rolling

Friends It was another big day for the Nasdaq led by Apple and Microsoft, but because both of those stocks are also part of the S&P 500 and the Dow,  those indices also posted nice gains for the day. We’ve seen this show for the last several months where...

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Apple 1-Bears 0

Apple 1-Bears 0

Friends The bears gave it a good push for most of the trading session, but Apple being both in the Dow and the S&P just couldn’t be held down. The big tech earnings, especially Apple, Amazon and Facebook were stellar after the close yesterday, which fueled a surge of...

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Earnings Fireworks

Earnings Fireworks

Friends We got our first look at 2nd quarter GDP today, and as expected it wasn’t pretty. Maybe more concerning is that weekly jobless claims have been back up a couple of weeks in a row now. We know the labor picture is extremely distressed and will likely continue to...

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Testimonies and Pressers

Testimonies and Pressers

Friends I was so engrossed in the flogging of Mark Zuckerberg, Jeff Bezos, Sundar Pichai, and to a lesser degree Tim Cook by the folks on the Hill, I almost forgot to do this email. Fed Chair Powell also held his presser after the Fed Decision (the Fed did...

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Stocks Slump Before Big Tech Testimony

Stocks Slump Before Big Tech Testimony

Friends The pattern we are seeing with earnings is that often the lowered expectation bar is being cleared, but the companies are finding it very difficult to find anything positive about the immediate future. Investors know the difficulties these companies face, thus revenue decreases are not unexpected. What is...

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Busy Week Ahead

Busy Week Ahead

Friends It’s a big week for earnings with Apple, Amazon and Google all reporting after the close on Thursday. We also have a Fed meeting which will conclude with Chair Powell’s press conference on Wednesday. As for today, news of drug companies moving into phase 3 trials for Covid-19...

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Earning Weigh On Stocks

Earning Weigh On Stocks

Friends The bears got the upper hand again today, as earnings season is proving to be somewhat of a challenge. Results have been as expected, but companies are very concerned about how the next couple of quarters are going to play out, and investors are starting to pay attention....

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The Darlings Drop

The Darlings Drop

Friends The bulls finally ran out of gas. Despite good earnings reports from the likes of Microsoft and Tesla, a downgrade of the shares of Apple by Goldman Sachs seemed to set the tone early, and stocks in general came under selling pressure later in today’s trading session. The...

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Late Gains

Late Gains

Friends It was a quiet, non-descript session for most of the day, but the bulls did press the action just a bit in the final hour of trading. Earnings releases are the main story this week with Microsoft and Tesla after the close today. So far, stock reaction to...

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Broadening Out?

Broadening Out?

Friends The bulls were holding on to a nice rally, one that was similar to last week in that it was broader than recent advances, when headlines began to indicate that a new relief bill out of Congress wasn’t going to be a slam dunk. At least it appears...

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