Week in Review In the face of drum beating bears and prior tech sector meltdown quarterly reporting from FANG stocks, the 3 major averages have held together quite well in recent weeks. Last week, the finale of FANG reports was delivered by Apple Inc. (AAPL) and served to deliver the first $1trn market cap for…...
It looked as if it was going to be a dreadful day on Wall Street in the early morning on Thursday with the major averages pointing to a steep decline at the market’s open. Within the first hour of trading, however, all 3 major averages bottomed and made a sharp U-turn heading higher through the…
That was something for all the market pundits and critics to behold last week was it not? The mantra surrounding the disbelief in the market rally that started in late April has been FANG, FANG, FANG. What we actually saw during the 5-day reporting cycle for FANG, however, was a market that held up rather…
That was something for all the market pundits and critics to behold last week was it not? The mantra surrounding the disbelief in the market rally that started in late April has been FANG, FANG, FANG. What we actually saw during the 5-day reporting cycle for FANG, however, was a market that held up rather…...
There’s some good and bad residing within every trading day. Yesterday’s good news was the performance or rotation out of large and midcap stocks and back into small cap stocks as the Russell 2000 Index outperformed its larger peer indices. Rotation is a sign of a healthy market as it points to active market participation…
After a rough open for the tech-heavy Nasdaq and usually supportive FAANG stocks, the market quickly rebounded intraday. All major averages, on the heels of a worse than expected Netflix subscriber addition number and share price plunge near 12% overnight, finished higher on the day. What may be even more remarkable than the intraday reversal…
Although it was only a one-day layoff with the markets closed for the 4th of July, it seems like headlines continued to roll in regarding global trade. The most significant or positive headline may have come out of the European Union. European officials are considering holding talks on a tariff-cutting deal between the world’s largest…
We’ve reached the end of the week and what a week it has been. A couple of overextended streaks came to an end during the trading week, including a Dow and Financials Select Spiders ETF (XLF) losing streak. In our daily market dispatch yesterday morning, we discussed the potential for XLF going forward. “While the…
The market is euphoric right? No, not by a long shot. The forward 12-month P/E ratio for the S&P 500 is 16.2. This P/E ratio is equal to the 5-year average 16.2. Do you really believe an equity market can express euphoria for a 5-year period? Clearly, the recent February-April period of market correction and…
Last Friday’s stock market rally carried forward on Monday with the tech-heavy Nasdaq leading the way. The Nasdaq Composite closed at a record for the first time since March 12, rising 52.13 points, or 0.7%, to 7,606.46. The S&P 500 finished up 12.25 points, or 0.5%, to 2,746.87. The Dow Jones Industrial Average advanced 178.48 points,…
