Market Update: Stock futures are slightly lower before Thursday’s open as investors wait for a flurry of economic data to be released, including the final read on Q3 GDP. Gary’s Thoughts: Uber removed self driving cars from San Fran. Good! We despise the idea of self driving cars…because computers cannot react like people. Futures flat…
On Wednesday, stocks were very quiet as the Dow Jones Industrial Average hovered just below 20k. Healthcare stocks lagged and oil turned negative after a surprise build in stockpiles. Economic data was very light, existing home sales for November, hit 5.61 million units, beating estimates for 5.535 million. Year-over-year, existing home sales swelled by 15.4%. A…
“Political Liars Or Just Dolts!” By Gary Kaltbaum-December 21,2016 Jack Lew…treasury secretary says what? In an interview with Maria Bartiromo on Fox Business Network, Jack Lew…treasury secretary says “The idea that you cut regulations and you unleash enormous growth in the economy…I don’t think it’s supported by the analysis that I’ve seen of most of the regulatory…
Stocks rallied on Wednesday, helping the Dow Jones Industrial Average come within striking distance of 20,000. Once again, Financials, Industrials and transportation stocks led the way higher and have largely been the primary beneficiaries of the post election rally. FedEx (FDX) and Nike (NKE) are both schedule to report earnings after the bell. Gary’s Thoughts:…
Market Update: Stock futures are flat before Wednesday’s open as the Dow closed just below 20k yesterday. Gary’s Thoughts: Up a smidge…very close. 20,000…yippee. Economic Calendar: Bank Reserve Settlement MBA Mortgage Applications 7:00 AM ET Existing Home Sales 10:00 AM ET EIA Petroleum Status Report 10:30 AM ET Highlights: VW Reaches Deal for Emissions-Cheating Audi,…
The move to 20,000 ran into a road block. This is normal as big numbers are tough to get through the first time visited. Just feels a little tired. We say that because the financials feel a little tired. After all, they have been acting like high beta growth stocks since the election. We say…
Stocks rallied on Thursday as buyers showed up one day after the Fed raised rates for the second time in a decade. The US dollar surged to a 14-year high as investors believe the Fed will raise rates more aggressively in 2017. In economic news, CPI (Consumer Price Index) increased by +0.2% last month which matched…
Market Update: Stock futures are slightly higher before Friday’s open on the last day of the week. Today is also quadruple witching day which means volume will be higher than normal because a series of options expire today. Gary’s Thoughts: Futures up a wee bit. No real issues with market unless you own the anti-strong…
Stocks fell on Wednesday after the Fed raised rates for the second time in a decade. The Fed raised rates by a quarter point and raised their target to 0.5-0.75%. This was the first rate hike in a year and the second in a decade. The Fed said it wants to raise rates 3 times in…
Market Update: Stock futures are flat to higher before Thursday’s open as investors digest the second Fed rate hike in a decade. Gary’s Thoughts: Rates continue to spike. Dollar continues to rise. Commodities starting to fall because of this. Financials barely budged yesterday as they continue to get the tailwind of expanding short vs long…
