Stocks were relatively quiet on Thursday after the new Treasury Secretary, Steve Mnuchin, said a “very significant” tax reform will be passed by August. Mnuchin said, “We’ve been working closely with the leadership in the House and the Senate and we’re looking at a combined plan.” Stocks have soared since the election, thanks, in part,…
Stocks were relatively quiet on Wednesday as investors digested the recent and very strong rally. The Fed Minutes hinted that more rate hikes may be on the horizon, especially if Trump’s policies do indeed spur economic growth. In economic news, weekly mortgage applications slid by 2% amid tepid refinancing levels. A separate report showed that…
Market Update: Stock futures are higher ahead of Thursday’s open as the market continues to flirt with record highs. Gary’s Thoughts: Just a tad higher. OIL PRICES rally…so oversold energy will bounce but still avoid. TSLA now down this morning on another loss. If we had to guess, we think TSLA will need to raise…
Stocks were closed on Monday for the Holiday. On Tuesday, stocks rallied nicely as investors continued to buy stocks. The White House announced Monday that Lieutenant General H. R. McMaster will become the new national security advisor. McMaster replaces Michael Flynn, who resigned last week. Economic news was light. The flash read on the IHS Markit…
Market Update: Stock futures are lower ahead of Wednesday’s open as the market continues to flirt with record highs. Gary’s Thoughts: Look at that…we are down at the open. We don’t have to tell you markets are just way overdue for sitting or pulling in…which would be normal and not a bad thing. Economic Calendar:…
“STILL…HARDLY ANY COMPLAINTS!” By Gary Kaltbaum- February 20, 2017 There continues to be very little to complain about. Major indices continue their upward trajectory with nary a pullback. In fact, since the election, we have not seen a correction of even 2%. This in itself is amazing. Normally, there is an ebb and flow in where markets…
Stocks slid on Thursday after 5 strong days of hitting fresh record highs. Energy shares lagged as crude oil pulled back. President Trump tweeted about the stock market and said, “Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism – even before tax plan rollout!” Economic data was…
Market Update: Stock futures are lower ahead of Friday’s open as the market finally takes a breather and pulls back from record highs. Gary’s Thoughts: Futures down…no issue here f the market sits, pulls back and relaxes. It is due. Economic Calendar: E-Commerce Retail Sales 10:00 AM ET Leading Indicators 10:00 AM ET Baker-Hughes Rig…
Stocks rallied on Wednesday as Janet Yellen spent the day testifying on Capitol Hill. Economic news was mixed. The consumer price index (CPI) rose 0.6% in January, which was higher than the Street’s estimate for for 0.3%. Separately, Retail sales, rose 0.4% last month beating estimates for 0.1%. The Housing market index came in at…
Market Update: Stock futures are lower ahead of Thursday’s open as stocks continue to hit fresh record highs. Gary’s Thoughts: Futures flat…would love some rest here…NTES big gap to new highs of the day…. One important note: lots of yapping that Jack Dorsey bought $7 million of Twitter stock this week. Terrific but he also…
