Slide in the afternoon doesn’t augur well for tomorrow
The NASDAQ Composite was down an already punishing 2.75% at noon in New York. But the damage wasn't done for the day. The tech-heavy index closed the day down 4.11% And the big techs, the stocks that had driven the rally up and are now pacing the move down, sold off...
NASDAQ 100 moves into correction
Traders who bought on the dip at the end of last week were a bit early, the market is saying today. As of noon New York time, the Standard & Poor's 500 was down 1.91%; the Dow Jones Industrial Average was off 1.56%, and the NASDAQ Composite was lower by a whopping...
Market passes baton back to Fed’s Powell Put for today’s rally
On Monday the Standard & Poor's 500 and the NASDAQ Composite hit new all-time highs on what I'm calling the Vaccine Put, the hope that we'll see the announcement of an approved coronavirus vaccine by early in 2021 or maybe even the end of 2020 or perhaps before...
What rally? Yes, tech has zoomed but the average stock in the S&P 500 was still down 28% from its February peak as of the Friday close.
Forget about a "V-shaped" recovery or a "W-shaped" bounce-pullback-move up again recovery. The talk on Wall Street is now about a "K-shaped" recovery where a handful of companies and their shares sooar ahead but where the average company and its stock lags way, way...
“Re-opening dependent” stocks outperform tech shares for another day–time to nibble on AAL, SIX, SHAK puts?
For yet another day shares of companies dependent on the re-opening of the U.S. economy and continued good news on job and spending gains during a time of coronavirus outperformed shares of tech companies. For example, while, as of 3:30 p.m. New York time today,...
Microsoft’s growth disappoints Wall Street in yesterday’s earnings report
Shares of Microsoft (MSFT) were down 4.35%at the close today in spite of the company's strong beat of Wall Street projections for the company's fiscal fourth quarter that ended on June 30. The company reported earnings of $1.46 a share, versus Wall Street projections...
Let the stimulus logrolling begin (I hope): Republicans near $1 trillion (maybe) with Democrats at $3 trillion as McConnell describes his plan on Senate floor
Of course, there isn't actually a Republican bill in the Senate yet, but in a floor speech today Senate Majority Leader Mitch McConnell said “The American economy needs another shot of adrenaline.” McConnell also noted that infections are “climbing in hot spots around...
Today it’s Amazon’s market
This morning shares of Amazon (AMZN) burst higher out of the box, gaining 5.98% as of noon New York time. The catalyst, it appears, was a new target price from Goldman Sachs of $3800 a share, up from the previous target of $3000. The shares had closed at $2961.97 on...
Saturday Night Quarterback says, For the week ahead expect…
...exciting times. And while that's fun (to some people, I hear) on a roller coaster, it's not going to be fun this week as investors try to figure out how to play three big news trends. First (because it's simpler and not because it's necessarily most important)...
Trick or trend: Netflix disappointment doesn’t take down tech stocks
Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Friday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. Netflix...
Inflection point for stocks approaches
Today what I'm calling "re-opening dependent" stock fell again. At least in the early going. Toward the end of session--like yesterday--these stocks and stocks in general rallied. Which in and of itself tells us something important about this market. First, the 2 p.m....Jim’s Stock Alerts
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