@theMarket: Profit-Taking Trims Post-Election GainsBy Bill Schmick,
03:03PM / Friday, November 15, 2024 | |
A 5 percent gain in nine days on the benchmark S&P 500 Index was met by profit-taking. Traders booked gains in Trump trades as some had second thoughts about continued upside. Who can blame them?
The conviction by many that happy days are here again (or will be by next year) sent markets through the roof in a frenzy of FOMO-generated trades. Technology took a back seat for a change as small-cap stocks soared on the belief that tariffs would force consumers to buy made-in-America products from American companies.
Smaller capitalization companies are distinctly American and are listed on the Russell 2,000 Index. Traders know that a good 40 percent of these 0 Comments
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@theMarket: Will Election Fears Trigger More DownsideBy Bill Schmick,
02:12PM / Friday, November 01, 2024 | |
Tuesday's presidential elections and the Fed's decision on interest rates have traders rushing to hedge their portfolios or go to cash. It is a little late in the day to take such action.
Over the last few weeks, I have been warning readers that the days surrounding the election could prove to be volatile. That situation appears to be taking center stage as we close this week's trading. I also urged investors not to get caught up in the panic and I hope you listened.
We are no further along in predicting the election outcomes than last month. The only thing we do know is that the race is too tight to call, and the popular vote will not be a 0 Comments
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@theMarket: Election Unknowns Keep Markets on EdgeBy Bill Schmick,
03:18PM / Friday, October 25, 2024 | |
Markets vacillate between betting on a GOP sweep and a Democrat victory with little justification for either outcome. Don't get caught up in the frenzy.
The betting markets have Trump winning but they have been wrong in the past and it is easy to tip the odds one way or the other with a couple of big bets. The polls are no help either because the results are all within a margin of error that makes them useless.
Only 36 percent of the S&P 500 have reported third-quarter earnings. So far, 79 percent of companies have beat earnings by a median of 6 percent. Sales results have also been strong with 58 percent beating estimates. The corporate results have 0 Comments
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@theMarket: As Election Approaches, Markets' Volatility Should IncreaseBy Bill Schmick,
03:01PM / Friday, October 18, 2024 | |
Investors are increasingly preoccupied with the general elections, which are less than three weeks away. That focus should increase as we go down to the wire, and as it does, so will volatility.
It is getting harder to ignore the election contest. The media, both mainstream and social, spews out a continuous stream of political news. I finally shut down my X account this week because of it. Although difficult, my attention remains focused on the market and not the election.
This week, third-quarter earnings have kicked off, and results have been strong thus far. Of the 58 companies reporting thus far, 76 percent have beat estimates. Banks have 0 Comments
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@theMarket: Stocks Make Record Highs Despite a Wall of WorryBy Bill Schmick,
03:31PM / Friday, October 11, 2024 | |
Mixed inflation data, higher unemployment claims, steeper bond yields, the unresolved Israeli counterstrike against Iran, and jitters over the election kept the equity averages volatile throughout the week. Despite those worries, the S&P 500 Index and the Dow hit record highs.
A bullish stock market often climbs a wall of worry. This week certainly qualified. Investors had to contend with a continued rise in yields on the benchmark Ten-Year U.S. Treasury and poor results of a government auction for that bond. The yield this week hit a high of 4.09 percent and has gone straight up ever since the Fed's 50 basis point cut in the Fed funds rate last month. If the Fed 0 Comments
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