This is all promulgated by overseas markets. We started with the festering Asian situation, Russia then spilled over into Latin America, and Wall Street has trouble dealing with all these overseas situations. |
This is par for the course. All you've got to do is breath heavy and you get the Dow plus or minus 90 points. |
This is the first day of the month, you may have seen some end-of-the-month portfolio selling dissipating, ... And this is the day that Microsoft is distributing $33 billion in cash, so there is some anticipation of that finding its way back to the market. |
This resiliency is something that's very impressive. |
Today bonds rallied because of the softer new home sales, ... Yesterday, bonds fell because the purchasing managers report was too strong. Now we go to Friday and the non-farm payrolls, which is the main part of the economic reporting cycle, and if that number comes in too strong, the bonds get whacked again -- and so do the stocks. |
Today bonds rallied because of the softer new home sales. Yesterday, bonds fell because the purchasing managers report was too strong. Now we go to Friday and the non-farm payrolls, which is the main part of the economic reporting cycle, and if that number comes in too strong, the bonds get whacked again -- and so do the stocks. |
Tomorrow (Tuesday) we get numbers on industrial production and housing and big reports from Intel, Coke, Johnson & Johnson -- maybe that can turn us around. |
Translated, the Microsoft ruling was a major event, but it was so predictable as to have little immediate impact. |
We are in a bit of a vacuum with the long three-day weekend coming up. Tomorrow will be a vacuum kind of day. |
We had a good day with surprising strength, but I need to see a follow-through tomorrow to believe it will stick. |
We have good earnings today, but there's just too much good economic news. We're increasing the likelihood of a rate hike in June. The data are coming in stronger than expected, so the Street is expecting another hike. The better the news, the more likely the Fed will tighten. It's a strange phenomenon that good news can be bad news. |
We knew deep down there was some good news in the bottom line, but we were beginning to have our doubts. |
we may have gotten overbought a little. We are probably going to see a pullback in the next few days. |
We remain in a stimulus vacuum and the underlying motif this week will be the Federal Reserve meeting next week. |
We say it again and again, but it's true that everything depends on the consumer, since around 70% of our economy is based around consumer spending. |