Bank of America (BAC) is up +0.5% in pre-market trading after it reported Q4 adjusted EPS of 40 cents, better than consensus of 38 cents GrubHub (GRUB) rose 2% in pre-market trading after being upgraded by Morgan Stanley to ‘Overweight’ from ‘Equal-weight’ BlackRock (BLK) reported Q4 adjusted EPS of $5.14, stronger than consensus of $5.02….
Stocks rallied on Wednesday after President-Elect Trump held his first press conference of 2017. The tech heavy Nasdaq composite closed at a record high while the Dow Jones Industrial Average continued to trade just below 20,000. Meanwhile, the Mexican Peso hit a fresh record low after Trump reiterated his intention to build a wall. Gary’s…
Market Update: Stock futures are lower before Thursday’s open as investors wait for a slew of earnings to be released over the next few weeks. Gary’s Thoughts: Futures down…weaker Europe not helping. Big financials reporting earnings tomorrow…very important to watch. On the gold front, looks like the GDX sets up well just above the 50…
On Monday, stocks were mixed as energy dragged the S&P 500 and Dow Jones Industrial Average lower while the Nasdaq hit a fresh record high. We are entering earnings season and investors will, once again, turn their focus to earnings over the next several weeks. Elsewhere, AliBaba Founder, Jack Ma, met with President-Elect Donald Trump…
American Express (AXP) was upgraded to ‘Outperform’ from ‘Market Perform’ at Oppenheimer with an 18-month target price of $98. Allstate (ALL) was upgraded to ‘Buy’ from ‘Neutral’ at Goldman Sachs. Travelers Cos (TRV) was downgraded to ‘Sell’ from ‘Neutral’ at Goldman Sachs. Williams Cos (WMB) slumped 7% in after-hours trading after it announced a plan…
Market Update: Stock futures are relatively quiet before Tuesday’s open as investors wait for earnings season to officially begin. Gary’s Thoughts: Very quiet but…a bunch of commodity names up 2-5% on higher commodity prices. Forgot to mention a little fireworks in biotech-land yesterday. No real leadership…stuff off lows with a few spec names moving on…
Just remember…Russia has been a bad player forever. It is only news now because there is a certain someone who will be president soon that both parties do not like. The media couldn’t give a crap about Russia. Russian reset? Ok…we’re in a bad mood as our Giants were whooped! 20,000 Dow. We don’t blame…
Stocks rallied on Wednesday after the Fed minutes showed they are concerned about a stronger dollar. Mortgage applications fell by 12% last week, from two weeks earlier as rising interest rates hurt. Separately, Fiat Chrysler, Ford Motor and General Motors all reported better-than-expected auto sales for December, which helped their stocks rally. U.S. auto sales for…
Market Update: Stock futures are lower before Thursday’s open as traders wait for Friday’s jobs report. Gary’s Thoughts: Futures down just a bit but Macys yonked…Kohls yonked, LB, JWN, JCP and other big retailers smacked….big retailers continue to lag. We suspect there will be many more store closings in the years ahead. Macys just announced…
Stocks were closed on Monday in observance of the New Year Holiday. On Tuesday, stocks rallied on the first trading day of 2017 but closed off their highs after energy prices plunged. Natural Gas plunged 10% mid day on ample supply and a seasonally warm January and February. Oil prices U.S. opened higher but closed lower…
