@theMarket: Holiday Cheer Lead Stocks HigherBy Bill Schmick,
03:49PM / Friday, November 29, 2024 | |
Scott Bessant at Treasury, threats of day-one tariffs on trading partners, and calls for another end-of-year rally buoyed markets. It is a seasonally bullish time for the equity markets with Christmas around the corner.
By now, you have probably heard that hedge fund manager Bessant will take the reins at the U.S. Treasury in January. Markets cheered that news. Most market participants believe Bessant is the man best suited for that post. Investors hope he will be market-friendly and a voice of moderation in the new Trump administration.
But before Bessant or anyone else gets carried away with the idea that Trump has lost that loving feeling he has for 0 Comments
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@theMarket: Stocks Should Climb into ThanksgivingBy Bill Schmick,
01:57PM / Friday, November 22, 2024 | |
Last week, traders made profits from the Trump trade. This week they reversed their positions. I expect further upside into the Thanksgiving holiday.
The market's performance was even more impressive considering the disappointing earnings from the number one AI player, Nvidia. The semiconductor giant reported stellar third-quarter earnings this week, but they were just not good enough to keep the stock's upside price momentum going.
Company management said supply chain issues reduced the growth rate in sales to the slowest in seven quarters. All that means, in my opinion, is that revenue will be boosted down the road when the bottlenecks are 0 Comments
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@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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