U.S. stocks pick up from morning lows; will they hold through the close?
U.S. stocks hit the lows for the day--so far--near the 10:20 a.m. mark in New York this morning. The Dow Jones Industrial Average, which had closed at 25,317 yesterday, October 22, traded at 24,777 at 10:23 a.m. That's a drop of 540 points. The Standard & Poor's...
Saturday Night Quarterback says, For the week ahead expect…
... much less earnings drama now that Facebook (FB), Amazon (AMZN), Netflix (NFLX) and other big tech market leaders have reported. But next week has a bumper crop of earnings reports scheduled with many of them in the important industrial sector where the effects of...
Caterpillar says “Never mind” about “high water mark” comment that spooked stocks so badly on April 24
I think you could make a case that the fears set off by Caterpillar’s “high water mark” comment in its earnings conference call set the tone for much of earnings season where traders and investors sold down the shares of almost every company that reported an earnings surprise. Now, however, Caterpillar is taking it all back.
Caterpillar says this is high water mark for the year–and everybody sells everything
Caterpillar (CAT) crystalized the market’s fears in its conference call this morning. After delivering really great results before the market opened–Caterpillar beat Wall Street earnings estimates by 72 cents a share and then raising its guidance for fiscal 2018 to earnings of $10.25 to $11.25, up from prior guidance of $8.25 to $9.25 a share–the shares moved up strongly, climbing by as much as 4.6%. And then came the conference call.
Selling Caterpillar on the President’s tariff announcement
I don't think there's any point to waiting around to see how quickly or fiercely China (and the European Union) will retaliate against U.S. exporters after today's announcement that the United States will put a 25% tariff on Chinese (and other imported) steel and a...
Caterpillar beats on earnings and guidance but stock falls 1.4% today
Investors and traders were determined to sell Caterpillar (CAT) shares after the stock gained 70% in 2017. That determination overshadowed yesterday's good news on fourth quarter earnings and positive guidance for 2018. The shares, which I added to my Jubak Picks...
Adding Caterpillar to my Jubak Picks and Volatility Portfolios ahead of earnings tomorrow
Caterpillar (CAT) looks to be a major beneficiary of the lower tax rates in the Tax Cuts & Jobs Act and for a lower U.S. dollar. (See today's Morning Briefing on the lower dollar.) Not that Caterpillar sales are exactly struggling. The company reported today a 34%...
Trump administration pushes a weak dollar at Davos
Treasury Secretary Steve Mnuchin gave the markets a green light to push the U.S. dollar lower in remarks at Davos. Currency traders, already on board the lower-dollar train, didn’t waste time before pushing the throttle. The Dollar Spot Index (DXY) is down 0.86% as of noon New York time to 89.347. Traders have been eyeing the 90 level on the index to see whether support would hold at this level or if the index would break below 90 and set up a move lower.
Trick or Trend: Will shutdown overshadow earnings and fourth quarter GDP this week?
Before Washington and the government shutdown stole all the headlines, the U.S. stock market was whipping up a good deal of enthusiasm about reports of fourth quarter earnings. Because the Securities & Exchange Commission gives companies more time to file end of the year annual financial reports than run of the mill quarterly reports, earnings season for the fourth quarter is especially drawn out, but we still get some important bellwether reports this week
Notes You Need for December 13: INTC, local Chinese government fraud, bitcoin, Viagra goes generic, dollar’s rough 2017, CPI, CAT
In my daily trawling through the market I come upon lots of tidbits of knowledge that I think are important to investors but that don’t justify a full post. I’ve decided to start compiling these notes here each day in a kind of running mini blog that I’m calling Notes You Need. A typical item is much like this from today: “10:20 a.m.: Â Intel (INTC) will cut payments under its “Intel Inside” program by 40% to 60%, according to CRN.com. Intel Inside darts to 1991 and paid OEMs and channel partners to mention Intel’s brand on products from PCs to workstations. CRN.com says that Intel will use some of the funds from this cut to invest in its data center business.”
What happened in the markets (and economy) last week–and what it means for August and September
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