Stocks were close in the U.S. on Monday in observance of the MLK holiday. Overseas markets fell on Monday after rumor spread that England would seek a hard Brexit. Stocks fell on Tuesday dragged lower by the financials. The U.S. dollar fell hard after President-Elect Donald Trump said in an interview that the U.S. dollar…
Chipotle Mexican Grill (CMG) was downgraded to ‘Neutral’ from ‘Overweight’ at JPMorgan Chase with a price target of $375. Everest Re Group Ltd (RE) was downgraded to ‘Underperform’ from ‘Neutral’ at Macquarie Research with a 12-month target price of $186. Morgan Stanley (MS) is up nearly 2% in pre-market trading after it reported Q4 EPS…
Random thoughts: Now entering the midst of earning’s season. Friday’s financial earnings were ok with financials gapping out of range, only to be pulled in. We received a ton of emails that the move was negative. We will hold off until Goldman and the rest report. Financials remain range-bound just like: The major indices remain…
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…
