Very strong open and on earnings.
CAT up $5 Dow name.
MMM up $6 on numbers.
BIIB up $11 on numbers…breakaway gap.
LRCX up $9 gapping up to the old highs.
VAR up $10 on numbers.
PX up $5 on numbers.
XLNX up $2.50…another semi-name. SEMIS will have a strong day after weak day yesterday because of TXN.
UNP is down almost $5 on numbers.
A bunch more companies announcing bonuses, investments, philanthropy, wage increases.
OIL PRICES keep ticking up…oil stocks remain strong.
International markets are very strong…some emerging markets up 10% in past 5 weeks.
The dollar remains very weak with Mnuchin pouncing on it…saying weak dollar is good. We hate that yapping.The weak dollar has helped commodities.
BIOTECH recently broke out on 2 buyouts but now gets stronger off of BIIB action today. The company missed and numbers were not so great but market still likes them.
Markets remain stretched, extended and overbought as about as far as we have seen with a big dose of too much bullishness…but markets do not give a crap.