By Gary Kaltbaum- November 27,2016 We can continue to be quite succinct with the market on both the good and the bad. As far as what has been working, the worst thing we can see is that they are way, way, way overdue to pull in. All are stretched, all are extended and all remain…
Market Update: Stock futures are lower ahead Monday’s open as traders return from a shortened holiday week. Looking forward, the highlights for this week are: OPEC’s next meeting, End of Month, and the always fun (and fake) jobs report. Gary’s Thoughts: Can’t be! Futures are down? Thought market never going down again! Economic Calendar: Dallas…
Stocks were mixed on Wednesday as investors digested the latest round of economic data, including minutes from the Federal Reserve’s November meeting. The Minutes showed the Fed still wants to raise rates in December. Separately, Durable Goods rose by +4.8%, beating estimates for +1.5%. Gary’s Thoughts: 100% certainty of rate hike. Happy Thanksgiving to everyone.
Market Update: Stock futures are higher ahead of the open as consumers all over the country flock to the stores trying to grab Black Friday deals. The market will close early (at 1pm EST) today. When you have a chance, check out copper (JJC), check out FCX, check out AKS, NUE, X…check out BHP,RIO,SCCO…it is a…
Market Update: Stock futures are relatively quiet ahead of Wednesday’s open one day after the major indices hit fresh record highs and topped psychologically important levels. The stock market will be closed all day on Thursday (in observance of Thanksgiving) and close at 1pm EST on Friday. Gary’s Thoughts: Futures down…nah, that can’t be. Market never…
The Dow Jones Industrial Average, Nasdaq composite, S&P 500 all hit record highs on Monday. Monday was the first day of the shortened holiday week. The benchmark S&P 500 hit a fresh record high after energy prices rallied 2% on renewed optimism that OPEC would cut production. Apple ($AAPL) and IBM ($IBM) were two big…
Market Update: Stock futures are higher ahead of Tuesday’s open after the major indices hit fresh record highs. the first day of this holiday week. The stock market will be closed all day on Thursday (in observance of Thanksgiving) and close at 1pm EST on Friday. Gary’s Thoughts: We offer no cold water except to say…
Tech worker visas face uncertain future under Trump, Sessions Commentary: Putin will pay a high price for Trump’s friendship Tsunami of 60 cm reaches Fukushima coast after earthquake: NHK Cabinet hopefuls continue trek to Trump Tower Texas manhunt seeks killer of policeman; four U.S. police shot on same day Major indexes hit records as post-election…
We continue to believe this remains a very split tape…regardless that some major indices are in new high ground. Bounces aside…and to be clear, all these areas are deeply oversold…we continue to avoid: Gold/silver, real estate, utilities, beverages, food, household products, tobacco,emerging markets, apparel, medical supplies,medical equipment, pharma, solar, big telecom, big cap tech/internet (Facebook,…
Stocks ended mixed on Wednesday as the Dow snapped a 7-day win streak. Before the open, mortgage applications tanked by 9% as mortgage rates spiked higher. A separate report showed Home Builder sentiment remained steady. Inflation remained at bay as the producer price index came in unchanged, missing estimates for a gain of 0.3%. Finally industrial…
