Friends It was a somewhat quiet day on the headline front and an equally quiet day on the stock trading front. The Dow and the S&P were able to squeak out a win, while the Nasdaq struggled a bit. The ADP private payroll number came in a little...
Friends Stocks got quickly out of the starting gate this morning, but seemed to run out of gas as the trading session wore on. We had Mnuchin and Powell in front of the Senate Banking Committee, Biden introducing his economic team, and the Senate floating possible stimulus deals during...
Friends November ended up being a very good one for the stock market, though it did close on a bit of a sour note today. More than reading anything nefarious into today’s proceedings, it might be best explained by saying that after the advance we have seen since...
Friends After yesterday’s historic day for the Dow Jones Industrial Average, it appeared that the bulls spiked the ball and went home for Thanksgiving. Yes, there was a little profit taking in some of those Dow names, but market participants still showed interest in owning some more of those...
Friends We mentioned that markets tend to favor Thanksgiving week and so far so good. The markets seem to be enamored with the choice of Janet Yellen as the next Treasury Secretary and there was a collective sigh of relief when word came that the administrative transition would...
Friends The markets got a double shot of good news today with yet another Monday morning vaccine announcement, this time from AstraZeneca, and then later in the afternoon the report that former Fed Chair Janet Yellen will be Joe Biden’s nominee for Treasury Secretary. It appears to be...
Friends Buyers just didn’t seem interested today. For the most part, it was a quiet day for the market averages, but it had a downward tilt to it. A minor spat between Treasury Secretary Mnuchin and Fed Chair Powell over some lending reserves that were designated in the...
Friends It was a choppy day for stocks as the range of traders’ emotions went from despair (Covid-19 cases rising causing more and more shutdowns) to hope (McConnell and Schumer talking about stimulus) throughout the trading session. It has been a tug of war between the good news on...
riends Like yesterday, despite good earnings from a couple of retailers, namely Target and TJ Maxx, stocks struggled later in the trading session. Pfizer updated the efficacy number for their Covid-19 vaccine to 95%, but cases of the virus continue to explode and shut downs are once again occurring...
Friends It was a sell the news kind of day for the stock market, though the averages closed well off their lows for the day. Both Walmart and Home Depot had stellar earnings reports, but because both were trading near all-time highs, market participants decided to take some profits....
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