Stocks opened lower but closed mixed on Wednesday after Apple Inc (AAPL) gapped down after reporting earnings. A slew of other stocks reported earnings as well and, so far, there is a slight bias to the downside. Meaning, more stocks are falling, after reporting earnings, than rallying. Stocks turned higher after oil prices reversed on…
Stocks slid on Tuesday as investors digested a slew of earnings data. Consumer stocks fell hard, especially stocks that depend on people buying things for their home after reporting disappointing earnings. Sherwin-Williams (SHW), Whirlpool (WHR) and Masco (MAS), were some of the stocks that fell hard on Tuesday. On the economic front, consumer confidence came in…
Market Update: Stock futures are lower ahead of Wednesday’s open after Apple reported its first annual revenue decline since 2001. Gary’s Thoughts: Apple no help. Think its more about it has already moved up…but no doubt, mature company with no growth. Futures yuck after yesterday’s yuck day. We now talk support levels again after one…
Stocks rallied on Monday as investors digested the latest round of mixed earnings data and another mega-merger between AT&T & Time Warner. Over the weekend, AT&T (T) reached a deal to acquire Time Warner (TWC) for more than $85 billion, or $107.50 per share. The deal is made possible by easy money from the Fed and other…
Market Update: Stock futures are up ahead of Monday’s open as investors digest last week’s up and down action and wait for the next round of earnings to be released. Gary’s Thoughts: Strong open. Market recognizes it was defended again Friday so back into the range on the open today. Financials, oils lead. Semis still strong but losing some momentum….
By Gary Kaltbaum October 24,2016 Thoughts on the AT&T/Time Warner deal as well as the other rumored or proposed deals: It’s all about EASY MONEY. It cannot happen without easy money. Easy money keeps rates low so borrowing costs stay low and easy money buoys stock prices so higher stock prices can be used as currency….
Before Thursday’s open, the European Central Bank (ECB) did nothing at its latest meeting which disappointed some investors (who wanted more easy money). Economic data was mixed. Jobless claims came in at 260k, missing estimates for 250k. The Philly Fed Index came in at 9.7, beating estimates for 7.0. Existing home sales came in at…
Market Update: Stock futures are down ahead of Friday’s open as investors digest a busy week of economic and earnings data. Gary’s Thoughts: Futures worsening as we get near open. MSFT big gap off of flat sales…go figure. MCD beats and rallies…been a terrible stock. Very interested to see if as usual, buyers stop any bleeding preventing indices from…
Stocks ended mixed on Wednesday, helped by a huge rally in crude oil. Crude oil broke out to a 15-month high after the Energy Information Administration reported a 5.3 million draw-down in inventory. Tighter supply concerns helped crude oil breakout and hit a fresh high for the year ahead of OPEC’s meeting next month (where they…
Market Update: Stock futures are flat ahead of Thursday’s open as investors digested the final Presidential Debate, the latest ECB meeting (they did not add more easy money), and the latest round of earnings data. Gary’s Thoughts: Futures down a wee bit after being up most of the night. Earnings have been blah but many companies smart enough…
