Lots to cover.
We have told you for many moons that the world will never stop their easy money policy. They can’t. They have caused and bought up asset prices across the spectrum. Depending on which abacus you are using, the guess is between $15-20 trillion…let us repeat…TRILLION of printed money, out of thin air, to buy up assets. We are told Yellen has backed away. In fact, she has been raising rates and now starting to pull back on all the printed money but we aint buying it. Because at the same time she stopped, Japan and Europe started their printing to the tune of almost 1 trillion each. That is gargantuan. On top of that, negative interest rates. Fast forward to today. They are still at negative rates and now the dude from the ECB is trying to tell us they will tighten. Do you want to know what their tightening is? Keeping negative rates and printing more than 1/2 trillion each year. And leave no doubt, any dislocation, any market drop will see all ramp up again as a bunch of fedheads have stated that.
Tons of earnings…can’t keep up. Are you ready?
BWLD up $16…stock slaughtered but better than the bad estimates.
TREE up $14, just dropped $40.
TWTR…yes TWTR up 10% on flat numbers and 5% sales drop.
TER, STM small gaps to the upside in semiconductor group. There are a few more smaller gaps.
To the downside:
NOW, UCTT, ORLY, NTRI, XLNX, VAR, CTXS, DLB, AMGN, CELG, NOK, TAL, CA, MLNX, TSCO, UHS, TRN, NTGR. Some big, some small. CELG a biggie as BIOTECH index breaking down.
Also want to make note of some decent distribution showing up in the TRANSPORTS. Has not broke any support, just some issues up in here.
AMZN, GOOG, MSFT tonight so big stuff for NASDAQ and NDX. Pay attention. Soon, FB and AAPL.
In spite of the gaps, futures up today as markets love that Europe going to print infinitum.