The Closing Look

Stocks edged higher on Tuesday helping the Dow Jones Industrial Average hit a fresh record high in quiet trade. Economic data was relatively quiet. The Labor Department said U.S. productivity rose at an annualized rate of +3.1% in Q3. The U.S. trade deficit widened to $42.6 billion and October factory orders, rose 2.7 percent, matching estimates.

Gary’s Thoughts: Overbought, stretched and extended continues. Soon, we get some shaking. Watching European banks now that are turning the corner. Remember the death of Deutsche Bank? Not…was given some bucks and is one of those names…

Other thoughts…we continue with our stance while we really like most of the things Trump is doing and saying on the economy, we are worried about we have call “heavy hands!” We believe in market forces. We shall see what happens.