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…
Market Update: Stock futures are higher before Wednesday’s open as traders wait for a busy day and week of economic data. Gary’s Thoughts: Futures up a wee bit as beginning of year starts nicely. Economic Calendar: Motor Vehicle Sales MBA Mortgage Applications 7:00 AM ET ADP Employment Report 8:15 AM ET Gallup U.S. Job Creation…
Disney (DIS) was upgraded to ‘Buy’ from ‘Hold’ at Evercore ISI with a 12-month target price of $120. Facebook (FB) was rated a new ‘Buy’ at Aegis Capital with a 12-month target price of $150. QEP Resources (QEP) was upgraded to ‘Outperform’ from ‘Market Perform’ at FBR Capital Markets with a 12-month target price of…
Market Update: Stock futures are higher ahead of Tuesday’s open on the first trading day of 2017. Gary’s Thoughts: Happy new year to all. Hope you had a great holiday. We are back in the states with serious jet lag but nevertheless, alive and well. We will wait til end of week for bigger report…
