Funny…a guy who has lived off the tax payer all his life is telling people he will get them all jobs!
Mushy day yesterday. We guess it was good that DOW came back but SEMIS another rough day. We are now in the midst of earnings.
CAT, UTX, VZ gap up in the DOW. MMM, TRV gap down. KO is flat from the DOW.
Others gapping up…PHM, HOG WHR, SAP,CDNS, EDU, LMT.
Gapping down…GOOGL…but only $78 on a $1070 stock…but noteworthy that it was up $50 after hours yesterday before turning down. BIIB, CNC, PII, AMTD, CVNA.
We are sure we missed a few. Futures up decently but off their earlier highs. Markets remain in the ping-pong, back and forth. Again, after the 2013 central bank-induced romp, markets went into an 18 month range with a couple of yonks to the downside during the range. This range-bound action is not abnormal. The bulls hope recent lows are not taken out. So far, the lows continue to hold. Our take is that they are good lows for now but always on watch. We continue to tell you not so sure there can be a ton of upside either.
Lots more earnings this week and next.
Futures been strengthening a bit this morning.
OIL prices down decently. We told you over the weekend oil stocks extended and overbought. Let’s see how they pull in.
Important GOOG(L) after the close. A ton of important names this week.
In the DOW…MMM, CAT, KO, TRV, VZ, BA, INTC, MSFT, V, CVX, XOM, UTX
Tuesday: AMTD, FCX, HOG, GLW, JBLU, MAS, PCAR, R, SAP, SHW, WYNN, CHRW, COF, CB, CREE, DFS, TXN, X
Wednesday: ANTM, BIIB, CMCSA, GD, NDAQ, NSC, TROW, TWTR, T, CMG, FFIV, F, LVS, QCOM, NOW, XLNX
Thursday: BMY, MO, AAL, CELG, CME, DPZ, GM, GRUB, TREE, MGM, RCL, STX, SNE, STM, TSCO, UNP, UPS,AMZN, AMGN, BIDU, EXPE, FISV, KLAC, PYPL, SBUX,, SYK, VRSN, VRTX, WDC
Please check on whether pre-market or after-market and dates are sometimes changed. We left out a ton of other names.
GE surprises…actually up but meaningless to the DOW as it is low priced.
Leading names SKX, TEAM go bye bye.
Futures down but not a ton but:
HOUSING looks like it is rolling over gain…from lower levels.
CONSUMER STAPLES new yearly lows. TOBACCO smoked (pun intended) as well as food, beverage, household priducts.
AUTOS look topped.
And the all-important SEMIS mauled yesterday as TSM lowers and giving overall poor SEMI guidance…hitting most names in the group hard. This is not good news for a market that has just bounced back into the middle of the range. The SEMIS have been a leader both up and down for a couple decades so something to watch closely. The news from TSM hit AAPL as they stated smart phones weakening.
OILS remain with the bid but Trump is ripping OPEC today. Doubt it has an effect. Better action in COMMODITIES also.
FINANCIALS bounce every time long rates move up…exactly what happened yesterday.
They ain’t going to make things easy now. Just into the ping pong, back and forth again.