Friends Stocks moved in and out of positive territory today as China tensions continue to increase, and a plethora of other domestic issues continue to smolder from racial tensions to fights over what constitutes free speech. We’ve come a long way from the March 23rd bottom and it would not...
Friends Stocks were having another nice day until word came that the President was going to make some comments about China in a press conference. Worries are that tensions are heightening once again, and deals that were made might be discarded overtook stocks and the day’s gains were quickly...
Friends The reopen rally continued today as stocks opened higher, gave some back, but closed strong. Most notably is that stocks that had benefited from people being quarantined have run into some profit taking, while shares of cyclicals, banks and companies in general that benefit from the economy reopening...
Friends Stocks enjoyed another positive trading session as hopes that the reopening of America could lead us back to some sense of normalcy. Of course, we are constantly in a wait and see mode these days, but despite some blatant disregard for social distancing that you surely saw on...
Friends It appeared that everyone is ready for a 3 day holiday weekend. We don’t have anywhere to go, mind you, but at least we have a few days to unwind and try to get away from the stress of the Covid-19 world. To that end, trading was uneventful...
Friends We had another horrific first time unemployment claims number this morning. These numbers are mind numbing, but obviously we all hope that they are temporary. Of course, as time goes on we’ll find out which of these job losses are permanent and which are not. Stocks spent the...
Friends The bulls were able to recapture yesterday’s late day selloff to put the market back on track for a positive week heading into the Memorial Day weekend. Retail earnings from the big boys like Walmart, Target, Home Depot and Lowe’s have all been pretty good, and that is...
Friends It was a somewhat quiet and nondescript trading session until a report surfaced questioning the excitement around Moderna’s vaccine news yesterday. Traders seemed to seize the moment to take a few profits and stocks gave back a little of yesterday’s monster gains. On the news front, both Home...
Friends On Sunday night, CBS 60 Minutes aired an interview with Fed President Jerome Powell in which he again reiterated that the Fed has plenty of firepower to support markets and it will use every bit of it if necessary. This put a little charge into stock futures overnight....
Friends The retails sales number for April was understandably awful. Again, when you shut everything down, numbers are going to be terrible. Stocks tumbled a little at the open, but by the afternoon had made it into positive territory. After some back and forth the market averages ended...
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